{"id":1004108425,"date":"2014-11-26T09:04:37","date_gmt":"2014-11-26T17:04:37","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=309704"},"modified":"2020-05-18T10:56:15","modified_gmt":"2020-05-18T18:56:15","slug":"value-place-holladay-properties-jv-plans-15-new-hotels-in-the-chicago-area","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/value-place-holladay-properties-jv-plans-15-new-hotels-in-the-chicago-area\/","title":{"rendered":"Value Place, Holladay Properties JV Plans 15 New Hotels in the Chicago Area"},"content":{"rendered":"

By Ioana Neamt, Associate Editor<\/em><\/p>\n

\"\"<\/a>Value Place, the largest extended-stay hotel brand in the U.S. recently announced plans to build multiple hotels in the Chicago area within the next 60 months, in partnership with South Bend, Indiana-based Holladay Properties. The two companies signed a long-term development agreement for a number of 15 new hotels, with the option for additional properties.<\/p>\n

According to a news release, Value Place and Holladay will break ground on the first property in spring 2015. Holladay Properties\u2019 Indiana office will handle site selection and will also be in charge of the architecture and design of the new hotels.<\/p>\n

\u201cThis development group has the stamina and resources to aggressively grow with us in this area of the country,\u201d says Ron Burgett, executive vice president of development at Value Place. \u201cPartnering with Holladay in a big way in Chicago is exactly what this brand needs in the upper Midwest.\u201d<\/p>\n

Value Place currently owns almost 200 locations in 32 countries, and was founded in 2003 by Jack DeBoer, the creator of renowned brands such as Residence Inn, Candlewood Suites and Summerfield Suites (now Hyatt House). The company was recently named one of Forbes\u2019 Best Franchises in America<\/a><\/em>.<\/p>\n

\u201cValue Place represents a strategic expansion of Holladay\u2019s hotel portfolio,\u201d says Tim Healy, senior vice president and partner at Holladay Properties. \u201cWe were attracted to the Value Place brand based on its strong executive leadership and our shared core values.\u201d<\/p>\n

Holladay Properties, founded in 1952 as the Grant-Holladay Construction Group, is one of the largest medical office management companies in the country, and was named the 2013 Developer of the Year by NAIOP-Indiana earlier this year.<\/p>\n

Click here<\/a> for more market data on Chicago<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Value Place, the largest extended-stay hotel brand in the U.S. recently announced plans to build multiple hotels in the Chicago area within the next 60 months, in partnership with South Bend, Indiana-based Holladay Properties.<\/p>\n","protected":false},"author":192,"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":[1491,21742],"tags":[],"class_list":["post-1004108425","post","type-post","status-publish","format-standard","hentry","category-chicago","category-latest"],"acf":[],"yoast_head":"\nValue Place, Holladay Properties JV Plans 15 New Hotels in the Chicago Area - 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-holladay-properties-jv-plans-15-new-hotels-in-the-chicago-area\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Value Place, Holladay Properties JV Plans 15 New Hotels in the Chicago Area\" \/>\n<meta property=\"og:description\" content=\"Value Place, the largest extended-stay hotel brand in the U.S. recently announced plans to build multiple hotels in the Chicago area within the next 60 months, in partnership with South Bend, Indiana-based Holladay Properties.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/value-place-holladay-properties-jv-plans-15-new-hotels-in-the-chicago-area\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2014-11-26T17:04:37+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-18T18:56:15+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/11\/Value-Place-Company-Logo.jpg\" \/>\n<meta name=\"author\" content=\"Ioana Neamt\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/value-place-holladay-properties-jv-plans-15-new-hotels-in-the-chicago-area\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/value-place-holladay-properties-jv-plans-15-new-hotels-in-the-chicago-area\\\/\"},\"author\":{\"name\":\"Ioana Neamt\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/993af2799cdaf5162633d320cf63ff16\"},\"headline\":\"Value Place, Holladay Properties JV Plans 15 New Hotels in the Chicago Area\",\"datePublished\":\"2014-11-26T17:04:37+00:00\",\"dateModified\":\"2020-05-18T18:56:15+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/value-place-holladay-properties-jv-plans-15-new-hotels-in-the-chicago-area\\\/\"},\"wordCount\":288,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/value-place-holladay-properties-jv-plans-15-new-hotels-in-the-chicago-area\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2014\\\/11\\\/Value-Place-Company-Logo.jpg\",\"articleSection\":[\"Chicago\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/value-place-holladay-properties-jv-plans-15-new-hotels-in-the-chicago-area\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/value-place-holladay-properties-jv-plans-15-new-hotels-in-the-chicago-area\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/value-place-holladay-properties-jv-plans-15-new-hotels-in-the-chicago-area\\\/\",\"name\":\"Value Place, Holladay Properties JV Plans 15 New Hotels in the Chicago Area - 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