My Place Hotels
We provide economy-midscale hotel lodging for travelers and guests who need extended-stay accommodations. Our hotels are typically new-build properties with three to four stories and about 46 to 85 guest rooms, sized to fit local market needs. Each My Place hotel offers guest rooms, a My Store, and guest laundry for added convenience during short or longer stays. We serve the traveling public with a clean, practical place to stay, whether guests are passing through or need lodging for an extended period. Our business operates as a hotel and lodging service focused on delivering everyday comfort and convenience in a straightforward setting.
Your franchise match score
Lodging & Hospitality
Brand highlights
- CEORyan J. Rivett
- Headquarters1910 8th Avenue Northeast, Aberdeen, SD, 57401
- Year founded2011
- Year started franchising2012
- IndustryLodging & Hospitality
- Locations open61 (+24 last three years)
Statistics & metrics
- Investment range$4,678,250 - $5,775,250
- Franchise fee$35,000
- Royalty0% of your Gross Room Revenue until the first month you achieve a monthly Average Occupancy of 50%; 2% of your Gross Room Revenue beginning with the first calendar month that your Average Occupancy equals or exceeds 50% but is less than 60%; 4.5% of your Gross Room Revenue beginning with the first calendar month that your Average Occupancy equals or exceeds 60%.
- Brand fund2.50% of Gross Room Revenue.
- Required Liquid CapitalN/A
- Required Net WorthN/A
Learn more about the Lodging & Hospitality industry:
From hotels and motels to vacation rentals, the lodging industry is a cornerstone of the travel sector. Franchises in this category offer the chance to be part of the global tourism economy.
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FDD insights
The information shown below is derived from publicly available franchise disclosure documents (FDDs), including the version issued as of the issuance date listed below, and other third-party sources. This information may not reflect the most current FDD. It is provided for general informational purposes only and is not part of any franchise offering or sales process. Franchise Sidekick is not providing or furnishing an FDD in accordance with FTC requirements. You should obtain and review the most current official FDD directly from the franchisor before making any investment decision.
FDD Version Referenced - Issuance Date: 2021-04-15
| Category | Detail | View |
|---|---|---|
| The Franchisor & Executives | Learn about My Place Hotels, its parent company, and the executive leadership team responsible for operating and supporting the franchise system. | |
| Business Experience | Review the professional backgrounds and relevant business experience of My Place Hotels's executives, directors, and key management personnel. | |
| Litigation | Understand any past or pending legal actions involving My Place Hotels, its affiliates, or key personnel that may be relevant to prospective franchisees. | |
| Estimated Initial Investment | Review the estimated total initial investment required to open a My Place Hotels franchise, including startup costs and working capital estimates. | |
| Financial Performance Representations | Review any financial performance information My Place Hotels provides, including revenue or earnings data, if disclosed. |
Location data
| Total locations | 61 |
| Franchise locations | 33 |
| Corporate locations | 28 |
System growth over time
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