WoodSpring Suites has entered into a multi-unit agreement with Pure Strike Development, LP and CAMTOD Group to develop six new hotels in the Denver, Colorado area over the next four years. This represents the first major development agreement to be signed since WoodSpring Suites rebranded from Value Place this past April. WoodSpring Suites made the announcement from the 37th Annual NYU International Hospitality Industry Investment Conference in New York.
“We have chosen to partner again with WoodSpring Suites because of their consistent, high demand and proven operating model,” says Blake Schauer, principal partner at Pure Strike. ”WoodSpring Suites offers great support in the development and construction process, and leveraging the WoodSpring Suites expertise in this space will lead to a very successful relationship. We are pleased to expand our portfolio of WoodSpring Suites hotels to the Denver area.”
The development group currently has another property under construction in San Angelo, Texas, and is actively seeking hotel sites in the Denver area. The group’s first hotel in the Denver area, located in Centennial, is expected to break ground in March. Once completed, the hotel will feature such guest amenities as in-room kitchens, free high-speed internet, guest laundry facilities, and the 99-point cleaning process that the WoodSpring Suites brand provides to every guest. These are all part of the company’s “It’s Simple. Done Better.” brand promise.
“This is the type of partnership we anticipated when we launched the WoodSpring Suites brand,” said Bruce Haase, CEO of WoodSpring Suites. “The WoodSpring Suites brand has strong appeal to developers and guests, and is a real asset to local communities. What better place than on the edge of the Rocky Mountains to expand our network of environmentally responsible WoodSpring Suites hotels.”
This development agreement will grow the brand to a total of 15 properties in the state of Colorado.
“Pure Strike Development and CAMTOD Group are an aggressive team that bring unique expertise to development in Denver,” said Ron Burgett, Executive Vice President of Development at WoodSpring Suites. “Partnering with this team will rapidly expand our footprint throughout the Denver area. It’s a great opportunity for all of us.”
WoodSpring Suites, which had a record growth year in 2014, is focused on strategic expansion across the U.S. through corporate- and franchise-owned development. The company expects to break ground on 30 additional properties by the end of the year. Expansion plans through 2017 include the addition of corporate and franchised properties in major metropolitan markets such as Los Angeles, Chicago, Philadelphia, Boston, Seattle, Miami, Portland, and Minneapolis.
WoodSpring Suites, formerly Value Place, is the nation’s fastest growing value extended stay hotel brand with 196 hotels located in 32 states. The company owns 84 of the properties and provides management services for both company-owned and franchised locations.
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