{"id":1004105864,"date":"2014-10-20T17:02:40","date_gmt":"2014-10-21T01:02:40","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=299768"},"modified":"2020-05-19T08:16:08","modified_gmt":"2020-05-19T16:16:08","slug":"value-place-opens-new-124-room-hotel-in-cleveland","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/value-place-opens-new-124-room-hotel-in-cleveland\/","title":{"rendered":"Value Place Opens New, 124-Room Hotel in Cleveland"},"content":{"rendered":"<p><em style=\"text-align: justify;\">By Adrian Maties, Associate Editor<\/em><\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/10\/1909951_102680617988_5137795_n.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-299769\" title=\"1909951_102680617988_5137795_n\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/10\/1909951_102680617988_5137795_n.jpg\" alt=\"\" width=\"300\" height=\"191\" \/><\/a>Value Place continues to expand. The extended-stay hotel chain has announced the opening of another hotel in Cleveland. It is the company\u2019s 10th Ohio hotel and its third in the Cleveland metro area.<\/p>\n<p style=\"text-align: justify;\">The newly constructed property is located at 20829 Emerald Parkway, close to  the Hopkins International Airport. Value Place did not disclose the cost of the project. Although the hotel opened to the public on Oct. 10, the company said it will hold a ribbon-cutting ceremony on Oct. 23.<\/p>\n<p style=\"text-align: justify;\">According to Value Place, extended-stay hotels are an appealing option for government employees, construction workers, business travelers and other people with jobs that require them to travel and stay for extended periods of time. The company\u2019s new Cleveland hotel has 124 rooms, on four stories. It offers laundry facilities, free Wi-Fi, kitchens and many other amenities. On its website, Value Place says rooms in the hotel cost between $250 and $310 per week.<\/p>\n<p style=\"text-align: justify;\">\u201cThis new hotel is conveniently located for our business travelers near the Hopkins Airport,\u201d Kyle Rogg, president &amp; COO at Value Place, said in <a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/10\/midyear-hospitality-midwest.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-299771\" title=\"midyear hospitality midwest\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/10\/midyear-hospitality-midwest.jpg\" alt=\"\" width=\"300\" height=\"268\" \/><\/a>a statement for the press. \u201cAs evident through our recent flurry of grand openings across the country, demand for economy extended-stay hotels is on the rise.\u201d Value Place has nearly 190 hotels in 32 states.<\/p>\n<p style=\"text-align: justify;\">According to Marcus &amp; Millichap\u2019s midyear hospitality report, hotels in the Midwest region\u2014which consists of Ohio, Illinois, Wisconsin, Indiana and Michigan\u2014are still on course to post stronger results in 2014, in spite of the severe weather that hindered travel early this year. Room demand in the area increased by 3.2 percent in the first half of 2014, with overall occupancy rising to 57.9 percent.<\/p>\n<p style=\"text-align: justify;\">The state of Ohio saw an increase of 3.1 percent in room demand, and its occupancy also reached 57.9 percent. Marcus &amp; Millichap predicts that by the end of the year occupancy in the Midwest will reach 59.9 percent.<\/p>\n<address style=\"text-align: justify;\"><em>Photo credit: <a href=\"https:\/\/www.valueplace.com\/\" rel=\"nofollow\" >Value Place<\/a><\/em><\/address>\n<address style=\"text-align: justify;\"><em>Charts courtesy of <a href=\"https:\/\/www.marcusmillichap.com\" rel=\"nofollow\">Marcus &amp; Millichap<\/a><\/em><\/address>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Value Place continues to expand. The extended-stay hotel chain announced this week the opening of another hotel in Cleveland. It is the company&rsquo;s tenth Ohio hotel and its third in the Cleveland metro area.<\/p>\n","protected":false},"author":925,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1584,21742],"tags":[39423],"class_list":["post-1004105864","post","type-post","status-publish","format-standard","hentry","category-cleveland","category-latest","tag-cleveland"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Value Place Opens New, 124-Room Hotel in Cleveland - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/value-place-opens-new-124-room-hotel-in-cleveland\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Value Place Opens New, 124-Room Hotel in Cleveland\" \/>\n<meta property=\"og:description\" content=\"Value Place continues to expand. The extended-stay hotel chain announced this week the opening of another hotel in Cleveland. 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