Ho­tel and Real Es­tate In­vest­ment Fran­chises An­tic­i­pate Rapid Growth

Inc. (USA) - - FRANCHISE -

Successful fran­chises can be found in all places, sizes, ages, and mar­kets. From its head­quar­ters in Aberdeen, South Dakota, My Place Ho­tels of Amer­ica has built a sys­tem with 31 open lo­ca­tions within a few years. Ryan Rivett, pres­i­dent and COO, says the con­cept’s ap­peal is based on its fresh ap­proach to a ne­glected niche be­tween econ­omy and mi­dlevel ho­tels.

“In a mar­ket­place mostly over-sup­plied with ag­ing econ­omy ho­tels and re­branded mid­scale prop­er­ties, as well as over­sat­u­rated with up­per mid­scale and up­scale prop­er­ties, My Place is the all-new con­struc­tion niche con­cept that is re­fresh­ing to fran­chisees and in­vestors alike,” Rivett says.

My Place has ho­tels ei­ther op­er­at­ing or un­der con­struc­tion in 19 states from Ge­or­gia to Wash­ing­ton and Texas to Alaska. By the end of 2017, Rivett says, the chain will have 50 prop­er­ties open or un­der con­struc­tion. Much of the growth is oc­cur­ring in the 50 largest mar­kets, Rivett says. “That said, we have a num­ber of de­vel­op­ers work­ing in smaller mar­kets from coast to coast,” he adds. HomeVestors of Amer­ica has ap­prox­i­mately 800 lo­ca­tions in 44 states and 144 ci­ties and should reach 900 lo­ca­tions within the next year, says David Hicks, co-pres­i­dent of the Dal­las­based real es­tate in­vest­ment fran­chise. In­vestor in­ter­est in real es­tate is sup­port­ing their rapid growth as wouldbe prop­erty ty­coons look for leads on in­vest­ment prop­er­ties, Hicks says. “Our trade­mark—We Buy Ugly houses— gen­er­ates leads they can’t oth­er­wise get. That’s prob­a­bly the big­gest rea­son peo­ple are at­tracted to us,” he says. Hav­ing strong fran­chises in most ma­jor metropoli­tan ar­eas, HomeVestors an­tic­i­pates ex­pand­ing in the re­main­ing IPN THYRL[Z ^OPSL ÄSSPUN PU TPKKSL THYRL[ ci­ties. Tar­get mar­kets in­clude Mid­west­ern states, the North­west, and in the North­east, New York and New Jer­sey.

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