{"id":1004093539,"date":"2014-03-28T06:57:32","date_gmt":"2014-03-28T14:57:32","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004093539"},"modified":"2022-12-07T03:22:37","modified_gmt":"2022-12-07T11:22:37","slug":"value-place-pure-strike-to-develop-124-key-hotel-in-san-angelo-texas","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/value-place-pure-strike-to-develop-124-key-hotel-in-san-angelo-texas\/","title":{"rendered":"Value Place, Pure Strike to Develop 124-Key Hotel in San Angelo, Texas"},"content":{"rendered":"<p><em>By Barbra Murray, Contributing Editor<\/em><\/p>\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/03\/Value-Place.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004093542\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/value-place-pure-strike-to-develop-124-key-hotel-in-san-angelo-texas\/value-place\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/03\/Value-Place.jpg\" data-orig-size=\"800,474\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"Value Place\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/03\/Value-Place.jpg?w=800\" class=\"alignleft size-medium wp-image-1004093542\" alt=\"Value Place\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/03\/Value-Place.jpg\" width=\"300\" height=\"177\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/03\/Value-Place.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/03\/Value-Place.jpg?resize=300,178 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/03\/Value-Place.jpg?resize=768,455 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n<p>Leading economy extended-stay hotel brand Value Place continues its rapid expansion across the U.S. with the development of a new property in Central Texas, in partnership with Pure Strike Development L.P.\u00a0 Value Place is more than a little keen on the Lone Star State; the new 124-room hotel, which will sprout up in the City of San Angelo, will mark the company\u2019s 38th location in Texas.<\/p>\n<p>Value Place isn\u2019t talking price tag for the project, but per the company\u2019s development pattern, the cost will be relatively modest.<\/p>\n<p>\u201cLow construction costs are part of our value proposition for owners and guests alike,\u201d Kyle Rogg, COO of Value Place, told <i>Commercial Property Executive<\/i>. \u201cIn addition to designing a building and labor model for operating efficiency, our construction costs tend to be much lower than the industry.\u201d<\/p>\n<p>Of course, the prices vary from market to market. Last year, Value Place announced it would invest $131 million to develop 15 properties in the greater Miami region, and $65 million to open 10 locations in the Atlanta area.<\/p>\n<p>Value Place has good reason for developing its latest project in San Angelo, which is located approximately 180 miles from San Antonio, the nearest city with a population of more than 1 million. As Luke Kozelichki, an associate with HVS, noted on the hospitality consulting and services firm\u2019s website in January, &#8220;The San Angelo hotel market is currently in a state of growth and expansion due to heightened demand brought about by the recent discovery of the Cline Shale.\u201d<\/p>\n<p>San Angelo is just one of many destinations on Value Place\u2019s development radar. Over the next three years, the company plans to build corporate-owned hotels in Fort Lauderdale, Boston, Los Angeles and Dayton, Ohio. It appears no region of the country is off limits.<\/p>\n<p>\u201cAn improving business environment increases the number of construction projects, hiring and training, job relocations, budget conscious vacation travel, and new household formation&#8211;all of which drive demand for our product,\u201d Rogg added.<\/p>\n<p>Value Place San Angelo will make its debut roughly seven months after the commencement of construction.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Leading economy extended-stay hotel brand Value Place continues its rapid expansion across the U.S. with the development of a new property in Central Texas, in partnership with Pure Strike Development.<\/p>\n","protected":false},"author":969,"featured_media":1004093542,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21742,1607],"tags":[],"class_list":["post-1004093539","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-latest","category-san-antonio"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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