My Place Hotels Signs 10-property Franchise Agreement

My Place Hotels of America has signed a multi-property franchise agreement with Lloyd Companies to develop 10 new My Place Hotels across the Midwest over the next five years. The first phase of development will focus on Missouri and Ohio, with specific property locations to be announced in the coming months. Construction on the first hotel is expected to begin later this year, followed shortly by a second property. The agreement adds new momentum to My Place Hotels’ growth in the extended-stay hotel segment.

The partnership gives Lloyd Companies responsibility for development and construction, while Lloyd Hospitality Group will manage hotel operations. The partners plan to open two properties per year, following a six-month development cadence. The first hotel opening is planned for early 2027, setting the pace for a phased rollout across Midwest markets.

The agreement reflects the rising appeal of extended-stay hospitality for developers and operators. For Lloyd Companies, adding an extended-stay platform has been identified as a strategic priority, allowing the company to diversify its hospitality portfolio and build on its existing operational expertise. The partnership with My Place Hotels gives the group a brand platform suited to long-term investment across multiple communities.

For My Place Hotels of America, the deal reinforces its strategy of working selectively with development partners that fit the brand’s operating model and long-term growth goals. The company is continuing to expand while focusing on partnerships that support franchisees, investors and local markets. This approach is presented as a way to protect the brand while still responding to strong developer interest in the segment.

Matthew Campbell, chief operating officer of My Place Hotels, is named in the announcement in connection with the alignment between the two companies. Chris Thorkelson, president and chief executive officer of Lloyd Companies, is also named in relation to the company’s decision to enter the extended-stay space with My Place Hotels. Ryan Rivett, chief executive officer of My Place Hotels, is linked to the brand’s broader growth momentum and selective partnership strategy.

The new agreement follows other multi-property deals signed by My Place Hotels with TGC Group and Opwest. This indicates that the company is building development momentum through larger franchise relationships rather than relying only on individual property deals. In the Midwest, the partnership with Lloyd Companies will expand the brand’s footprint through a structured pipeline of new hotels.

With 10 properties planned over five years, the agreement marks a significant addition to My Place Hotels’ development pipeline. It also highlights continued confidence in the extended-stay hotel market, particularly in regional communities where demand for practical, flexible and efficiently operated accommodation continues to grow.

About My Place Hotels of America, LLC

My Place Hotels of America, LLC (“My Place Hotels”) is an extended-stay hotel franchisor focusing on franchising clean and comfortable hotels with modern rooms, amenities, and excellent customer service, all at an affordable price. Based in Aberdeen, SD, the company has an established presence across 31 states with over 120 hotels in the pipeline, offering two hotel brand options to current and potential franchisees. For more information on franchising with My Place Hotels, please visit myplacehotels.com/franchising or contact SVP of Franchise Development Eric Meyers at eric.meyers@myplacehotels.com.