financeHotel Dive··1 min·For: Owner, Investor, GM, Ops
My Place Signs 10-Hotel Deal to Expand Extended-Stay Brand
My Place Hotels of America has entered into a significant franchise agreement with Lloyd Cos. to develop 10 new extended-stay properties across the Midwest. The deal reinforces the brand's growth strategy amidst a surging market for long-term lodging options.
Key Takeaways
- 1Expand presence in the Midwest through a multi-unit franchise agreement with Lloyd Cos. to develop 10 new properties.
- 2Capitalize on the sustained demand for extended-stay accommodations, a segment currently outperforming other hotel categories.
- 3Strengthen the long-term partnership with Lloyd Cos., which already manages several My Place locations and brings regional development expertise.
Source: Hotel Dive
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