Austin, Texas -- WoodSpring Hotels, the nation's fastest growing extended-stay hotel company, has entered into an agreement with Tanuj Nathan and Vinesh Kumar to develop two new WoodSpring SuitesSignature hotels in the greater Austin, TX market. The new locations are in the Austin sub-markets of Buda and Georgetown, TX. Nathan and Kumar own and operate several hotels with multiple brands through their management company, MVK Hospitality. This marks their first venture with WoodSpring Hotels.

WoodSpring Hotels currently has three open properties in the Austin market and one under construction.

"Our attraction to WoodSpring Hotels stemmed from their precise operating model through corporate owned developments and we like the fact that this particular company has leadership experience in the space and a lot of skin in the game," said Tanuj Nathan and Vinesh Kumar, managing partners. "Our team conducted extensive research before deciding to enter into a franchise partnership with WoodSpring Hotels."

"Nathan and Kumar are strong partners with the hospitality expertise to join our ranks of experienced developers," said Ron Burgett, executive vice president of franchise development and operations for WoodSpring Hotels. "This team is exactly the type of franchisee we look for to help us grow. Our existing Austin locations support the regions high guest demand, and these new Signature locations will complement our existing properties."

About WoodSpring Hotels

WoodSpring Hotels is the company behind the nation"s fastest growing value extended-stay hotel brand with more than 230 hotels in over 35 states. The company owns 95 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.woodspringfranchise.com.

Crystal Franz
Vice President of Corporate Communications
Value Place