Philip H. Sanford was named Value Place’s president and chief operating officer, both newly formed positions. Sanford, a former executive officer with Coca-Cola Enterprises and then CEO of The Krystal Company, will focus on national growth for the fast-growing economy extended-stay brand.

“Right now, the consensus across all demographics is to be smart and responsible and Value Place is the epitome of smart and responsible,” said Sanford. “It’s the right idea at the right time and having the opportunity to work with industry giants like Jack DeBoer and (CEO) Greg Kossover to grow their brand into the future is a great opportunity.”

Sanford helped Krystal, a quick-service restaurant chain he bought in 1996, grow to over 400 locations by 2006. He sold his interest, but not his passion for growing companies.

“Value Place is a young company, but already a national brand, proving that clean, safe and affordable are sought-after qualities in any economy,” Sanford said. “I think Value Place will only become stronger through franchised growth because no one can succeed more readily than those individuals that immerse themselves in the communities in which they do business.”

Value Place was founded in 2002 and has more than 130 properties open in 25 states with another 35 expected to open this year. Approximately a third of the properties open now are corporate owned and that could increase with the addition of Sanford.

"Yes, an important element in bringing in Phil into Value Place, Jack and Greg have made Phil a part of the ownership group," says Gina-Lynne Scharoun, the company's president of franchise services.

Forty-seven franchise groups have committed to build more than 550 properties over the next decade, the company says.