My Place Hotels of America, an extended-stay hotel brand, has entered into a two-phase franchise and development agreement with Rimrock Companies for 10 extended-stay hotels across the South in the next six years.
These 10 properties will be located across three states and expand My Place’s footprint in Tennessee, Georgia and South Carolina. Construction of some of these properties is already underway.
All the properties are expected to be completed by 2029.
The second phase of the development plan continues to focus on the country’s Southeast region and incorporates at least as many franchises as the first phase.
“The team at Rimrock is competent in development, and we have a ton of confidence in their ability to execute this business plan,” said Ryan Rivett, founder, president, and CEO of My Place Hotels. “Their proven track record of focus on quality and integrity in their deals made this an easy agreement to structure — plus, they’re just good people, and that’s who we’re looking to do business with at the end of the day.”
A privately-held real estate development and investment company, Rimrock is based in Jacksonville, Fla. The company has a hospitality division focused on extended-stay hotel development. Currently, Rimrock has several extended-stay hotels under development in Montana, Idaho, Florida and the Southeast.
“We’re honored to be partnering with the top extended-stay hotel brand in the business and grateful for the trust My Place Hotels has placed in us to develop a minimum of 10 new properties in the Southeast region of the U.S.,” said Micah Linton, president and CEO of Rimrock Companies. “Our mission from the beginning has been to create exceptional commercial spaces to enhance the communities we serve. Each of these new properties represents an opportunity for us to create something extraordinary for not only guests but also the businesses in the surrounding area.”
Headquartered in Aberdeen, S.D., My Place Hotels is a hotel franchisor focusing on franchising hotels with modern rooms, services and exceptional customer service at an affordable price.
The company currently has two hotel brand options for its franchisees. My Place Hotels now has roughly 70 locations open in 29 states, with more than 130 hotels in the pipeline.
This partnership comes on the heels of a multiple-development agreement announced by My Place Hotels in October 2022. The company had inked a multi-development deal with TGC Group to grow TGC’s portfolio of assets from one My Place Hotel to 10 My Place locations by 2027.
TGC is a Wichita, Kan.-based full-service development, investment, construction and hospitality management company focused on acquiring, syndication and developing restaurant, hospitality, commercial and multi-family properties in the U.S.