Value Place Opens in Hobbs, NM, Reports Record Growth in ’14

HOBBS, NM—Value Place has announced the grand opening of a newly constructed hotel here.

Value Place has partnered with Hobbs VP Investors, LLC in the development of the new four-story, 124-room hotel. The Value Place hotel will be located on 5100 North Lovington Hwy. near the Lea County Event Center, a site often used for conventions and other large professional meetings. This is Value Place’s third hotel in the state, joining hotels in Albuquerque and Las Cruces.

“We are excited about our new hotel in Hobbs,” stated Andy Anderson, EVP of business development at Value Place. “Not only has the population in Hobbs and the surrounding area increased significantly in the past decade, the location is perfect for anyone who might be visiting Lea County and needs an affordable hotel.”

Meanwhile, the opening comes at the same time the brand reported record franchise development growth in 2014, reflecting unprecedented demand for the brand from both current clients and new development partners, according to the company.

“Consistent with our strategy to develop a widely distributed national brand, much of our growth was focused on developing the brand in major metropolitan markets not currently served by the Value Place brand,” noted Bruce Haase, CEO of Value Place. “Entry into key new markets such as Seattle, Chicago, Minneapolis and Miami will introduce the Value Place brand to millions of new consumers.”