WICHITA, KS—WoodSpring Suites has entered into a second license agreement with Gold Coast Premier Properties, LLC to build a new franchised location in the submarket of Doral, FL.
The principals of Gold Coast Premier Properties have extensive experience in real estate and international finance. The parent company has developed real estate projects throughout the world. “Doral is an extraordinary market in which the demand for extended-stay exceeds the supply,” Raul Garcia, president of Gold Coast stated. “WoodSpring Suites will be an ideal fit for the market.”
Earlier this year, WoodSpring Suites changed its name and brand from Value Place, and the company’s franchise partners have enthusiastically endorsed these changes.
“One of the major reasons we have invested significantly into rebranding our hotels is because research has showed us we have a unique opportunity to capitalize on what we believe to be the best product in our segment,” said Bruce Haase, CEO of WoodSpring Suites. “With the name change from Value Place to WoodSpring, we now have a brand identity that better aligns with an already great product and how it reflects our ‘It’s Simple. Done Better.’ personality.”
“One of the reasons Doral is such a highly sought-after location and lucrative market is because it has extremely high barriers to entry,” said Ron Burgett, EVP of franchise development at WoodSpring. “Fortunately, we were able to use WoodSpring Suites’ corporate real estate expertise to help Gold Coast identify this site, and they were able to leverage their extraordinary deal making abilities to acquire it. The net result is we have a top-flight developer building our brand in one of the most desirable locations in the United States. We could not be more excited about this project or our partnership with Gold Coast.”
This property is the second location announced by Gold Coast Premier Properties and will be a strong complement to the hotel it is building at Zoo Miami.