Northgate Investment Group Signs to Develop a New Prototype 123-unit WoodSpring Suites in Sacramento, California
SACRAMENTO, CA., October 13, 2016 — WoodSpring Hotels, the nation's fastest growing, extended-stay hotel brand, has entered into an agreement with local hotel developer Northgate Investment Group, LLC, to develop a WoodSpring Suites in Sacramento, Calif., near the Natomas area.
The California-based developers will build a new prototype 123-unit WoodSpring Suites in Sacramento. The projected opening date is late 2017. This franchised location will mark the brand's second prototypical build in the state of California with multiple other sites in the pipeline.
“WoodSpring is a great fit for us. Our focus is to develop, own and operate hotel assets in the greater Sacramento area,” said a partner at Northgate Investment Group, LLC. “WoodSpring Hotels has a very simple, but precise, operating model that we like, and combined with WoodSpring's franchise support system and its above average NOI percentage, we felt this brand was the right choice for us.”
“Northgate Investment Group is a highly engaged hotel owner and operator ready to develop the WoodSpring Suites brand in Sacramento. They are a great example of an owner/operator franchisee that will fit well into our family of franchisees, and we are excited to partner with them,” said Ron Burgett, EVP of franchise development and operations for WoodSpring Hotels.
About WoodSpring Hotels
WoodSpring Hotels is the company behind the nation's fastest growing value extended-stay hotel brand with over 210 hotels system-wide located in over 30 states. The company owns over 90 hotels and provides management services for both company-owned and franchised locations under the WoodSpring Suites and Value Place brands. WoodSpring Suites are hotels for good people with practical needs, down-to-earth attitudes and a comfortable style, and who appreciate the value of life's necessities - done really well. For more information, visit www.WoodSpring.com.
Contact:
Crystal Franz
cfranz@woodspring.com
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