Dive Brief:
- My Place Hotels of America has entered into a franchise agreement with South Dakota-based construction firm Lloyd Cos. to develop 10 new My Place hotels across the Midwest, according to a news release obtained by Hotel Dive.
- The extended stay hotels will be developed over the next five years. Construction on the first property will begin later this year, followed by a second property shortly after, per the release. Missouri and Ohio have been identified for the first phase of development.
- The agreement follows other multiproperty deals that My Place has entered in recent years, as the hotel brand grows its extended stay portfolio amid the category’s continued strength.
Dive Insight:
Through the partnership, My Place and Lloyd Cos. plan to open two properties per year, based on a six‑month development cadence, per the release. Lloyd Cos. will lead development and construction of the hotels, while its subsidiary Lloyd Hospitality Group will manage the properties. The first hotel under the agreement is slated to open in early 2027.
The hotels grow My Place’s presence across the Midwest. The brand’s portfolio currently spans 32 states, and it has more than 125 hotels in the pipeline.
That pipeline includes hotels under other multiproperty agreements, including with developers TGC Group and Opwest Partners. In January, for example, My Place opened a hotel in the Phoenix suburb of Mesa as part of its tie-up with Opwest.
These partnerships signify the continued strength of the extended stay category, My Place CEO Ryan Rivett noted. “The interest in extended-stay properties continues to grow, and so does the number of developers who want to work with us,” Rivett said in a statement.
According to My Place research, extended stay brands now account for more than one-third of all U.S. hotel projects under construction. As of the third quarter of 2025, extended stay hotels comprised 40% of all projects and 34% of all rooms in the total U.S. hotel construction pipeline, per Lodging Econometrics.
Other hotel companies actively expanding their extended stay portfolios include Wyndham Hotels & Resorts, which is growing its Echo Suites flag; Choice Hotels International, building on Everhome Suites; and G6 Hospitality, which recently launched the Studio 6 Plus extended stay brand.
