My Place Hotels of America has entered into a multi-property franchise agreement with Lloyd Companies to develop 10 new My Place Hotels across the Midwest over the next five years. Missouri and Ohio have been identified for the first phase of development, with additional property locations to be announced in the coming months.
Lloyd Companies will lead development and construction on the properties, while Lloyd Hospitality Group will manage hotel operations. Construction on the first property is set to begin later this year, with a second property to follow shortly after. The partners plan to open two properties per year on a six-month development cadence, with the first opening slated for early 2027.
“When we sat down with the Lloyd team, it didn’t take long to see the alignment,” said Matthew Campbell, COO of My Place Hotels. “They share our values, they understand the business, and they’re committed to doing it the right way. That kind of due diligence works both directions, and with Lloyd, it made the decision easy.”
The partnership grew out of a relationship formed through mutual connections, with a shared perspective on the hospitality business ultimately driving the agreement.
“Adding an extended-stay platform to our hospitality division has been a strategic priority for some time now,” said Chris Thorkelson, president and CEO of Lloyd Companies. “It allows us to diversify our portfolio, build on our operational expertise, and continue our growth strategy. But we were only going to do it with the right partner—one that views the hospitality business the way we do and whose operating structure positions us to protect and strengthen long-term investments across multiple communities. We found that in My Place.”
The agreement follows My Place Hotels’ multi-property deals with TGC Group and Opwest. Extended-stay brands now account for more than one-third of all U.S. hotel projects under construction, and their share of industry room revenues has increased every year since 2011.
“The interest in extended-stay properties continues to grow, and so does the number of developers who want to work with us,” said Ryan Rivett, CEO of My Place Hotels. “And while that momentum is exciting, we’ve learned to be selective. Every partnership has to work for all the stakeholders involved—our franchisees, our investors, and the communities we operate in. That’s how we protect the brand and continue to grow the right way.”