Aiming to provide a balance between cost and return for franchise operators and a price and value balance for guests, My Place economy extended-stay hotels are built to accommodate transient business and leisure travelers. Developed by a team with nearly 40 years of experience in the lodging industry, including one of the founders of Super 8, the first My Place hotel opened in Dickinson, N.D., in 2012. The company has an ambitious growth plan in place, and is looking to grow My Place’s portfolio to 1,000 properties by 2024.
AT A GLANCE:
» Ownership split (U.S. properties) | 41, all franchised
» Rewards program | My Place VIP Club
» Length of contract | 20 years
» Contact | Terry L. Kline, email@example.com, 605-725-5685
|Brand Name||What It's About||Chain Scale||Competitive Set||Franchise Fees||Target Customer||U.S. Properties/States||U.S.
|My Place Hotels of America Since 2013||All new construction with efficient prototypical design and operating platform||Midscale||Midscale and upper-economy extended-stay brands||Initial: $35,000 |
Royalty: 4.5% GRR
Marketing: 2.5% GRR
|Business and leisure travelers||41/20||75|