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US: Upper-midscale extended-stay brand My Place Hotels of America has signed a multi-property franchise agreement with Lloyd Companies to develop 10 properties over the next five years in the Midwest.
Missouri and Ohio have been identified for the first phase of development. Construction on the first property will begin later this year, followed by a second property shortly after.
The partners plan to open two properties per year, sticking to a six‑month development cadence. The first opening is slated for early 2027.
Lloyd Companies will lead development and construction, and Lloyd Hospitality Group will oversee hotel operations.
“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.”
Matthew Campbell, COO of My Place Hotels, added: “When we sat down with the Lloyd team, it didn’t take long to see the alignment. 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 follows similar multi-property agreements that My Place Hotels has made with TGC Group and Opwest.
Highlights:
- My Place Hotels of America signed a franchise agreement with Lloyd Companies to develop 10 extended-stay hotels across the US Midwest within five years.
- Missouri and Ohio will host the first phase of My Place Hotels developments, with construction on the inaugural property scheduled to begin later this year.
- Lloyd Companies will manage hotel development and construction, while Lloyd Hospitality Group will oversee operations under a plan targeting two openings annually.
- The first My Place Hotels opening under the partnership is scheduled for early 2027, following recent multi-property agreements with TGC Group and Opwest.
