Value Place eyes Sunport Hotel
New Mexico Business Weekly
Dallas’ Quanah Hospitality has acquired a 1.83 acre parcel at Mulberry and San Jose SE in Albuquerque with the intent to build a Value Place extended-stay hotel.
Quanah partner, Gary Webb, acknowledges the land acquisition, but said the company will not comment until financing and city approvals for the project are in place. The first Duke City Value Place opened at 13001 Central Ave. NE and it serves the city’s I-40 eastern corridor. The new location is along I-25 and close to the Albuquerque International Sunport.
Value Place offers rooms on a weekly basis at low rates starting at around $200 and is partially aimed at the construction industry where temporary housing is needed on big jobs. Las Cruces has the state’s other Value Place Hotel, but more are planned throughout the state. Since founding the franchise chain in 2004, Quanah has opened more than 100 units throughout the country and has plans for 700 new hotels in the next five years through its 42 franchise operators.
CB Richard Ellis’ Trevor Hatchell and Mike Schiffer brokered the Southeast Heights deal.
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