Value Place renamed to WoodSpring Suites
In an effort to broaden its appeal, extended stay hotel chain Value Place is being renamed to WoodSpring Suites.
The rebranding will take effect immediately and the company also said it will create a new enhanced brand offering called WoodSpring Suites Signature, aimed at less price sensitive guests.
The change will be rolled out at all 196 hotels in its portfolio which are located nationwide in 32 states and has been welcomed by its franchise partners, the company said.
"We found that although consumers and developers actually love the Value Place product offering, there is a disconnect between perceptions of who we are and the reality of our product and experience based upon our current branding, said Kyle Rogg, president and chief operating officer.
Rogg said the new WoodSpring Suites Signature brand will debut later this year.
Earlier this year Wichita based Value Place posted a 50.9% year-over-year increase in full-year revenue to $108.8 million.
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