His firm seeks a new ‘Landing’ for franchisees

BLUFFTON, South Carolina — Working towards its stated goal of creating the “next great franchise,” LandingPlace Hotels took another step on its journey with the recent launch of a new ownership platform known as LandingPlace Holdings.

The platform will acquire and rebrand existing hotels as LandingPlace properties, supporting the Bluffton, South Carolina-based company’s long-term franchise expansion strategy.

To support the initiative, LandingPlace Holdings launched a corporate bond program with an International Securities Identification Number (ISIN), enabling trading via London-based OTC markets. The bond program, funding the platform, is structured with Singapore-based Wolfline Capital and JTC Group.

LandingPlace CEO Jeremy Bratcher outlined why the corporate bond program serves as the catalyst for growth for the company.

This is going to provide us with the capital infrastructure to fuel our acquisition strategy. This capital gives us a lot of flexibility to make acquisitions that are strategic in nature while fueling the proof points for the larger franchisee community.

Jeremy Bratcher

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“This is going to provide us with the capital infrastructure to fuel our acquisition strategy. This capital gives us a lot of flexibility to make acquisitions that are strategic in nature while fueling the proof points for the larger franchisee community,” Bratcher told Hotel Investment Today, further noting the pipeline includes hotels earmarked for franchising, acquisition and joint ventures.

The establishment of the ownership platform follows last July’s launch of two midscale brands, LandingPlace Suites and LandingPlace Select, which represent extended-stay and select-service flags, respectively. Bratcher, who co-founded the company with president Jacob Amezcua, said the company will maintain a number of owned “corporate demonstration” properties to serve as a model for franchisees.

Bratcher noted the company has not set a specific ratio for corporate-owned properties versus franchised locations but will pursue an opportunistic growth strategy.

“If there's a great opportunity that comes across our desk, why wouldn't we do that as an owner? We'll be wearing both hats simultaneously as a franchisor and as a hotel owner,” he said.

Bratcher said the company is targeting having three owned and/or joint venture hotels completed by the end of the year. He added that it expects to acquire an additional seven hotels in 2027, bringing its portfolio to 10 owned hotels.

From a geographical perspective, Bratcher said the company would look at “all corners of the U.S.” and some international markets. While the brand will be built primarily on conversions, the company will consider new builds and has already entered into discussions for a few potential LandingPlace Suites locations.

Approaching acquisitions

The CEO offered some color on how the company plans to approach acquisitions and subsequent operations.

“We're looking to acquire hotels that are either nearing the end of their license or that may need some light-to-medium renovation. In some cases, we've run across some hotels that may have been underperforming from an operational perspective. We do have partners that are sophisticated third-party operators who will be operating the day-to-day business,” he said.

Bratcher elaborated on the type of hoteliers he sees as a good fit for LandingPlace, while reinforcing the company’s intended value proposition.

“We're targeting the franchisee that may be frustrated with their relationship with their current franchisor. Maybe they feel as though the PIPs and brand standards are all driven toward enhancing the brand's value and not being mindful of their bottom line. That's really the void we're looking to fill as a franchisor to really be mindful of the economics of the owner,” he noted.

Bratcher’s extensive background in hospitality dates back to the age of 17, when he worked as a banquet server and van driver, among other roles, at three different hotels. He subsequently joined national brand companies, such as IHG and Starwood Hotels, as well as a number of prominent owner/operators, including MCR Hotels, Banyan Investment Group, GF Hotels & Resorts and Island Hospitality Management.

Starting the company

Bratcher detailed how the opportunity came about to start LandingPlace. 

“I was taking a little bit of a sabbatical and thinking of what I am going to do next, and through happenstance and some conversations, Jacob and I came together. He was working on some projects that I thought could be the start of a better mousetrap, and we put our heads together. Through my career, I've worked with some amazing individuals and I was able to bring them on board both as team members and as strategic advisors and really put together what I think is the ‘next great franchise,” he asserted.

Detailing the potential white space for the two brands, Bratcher referred to the competitive set in the midscale space. “There's a lot of homogenization going on where everything is kind of the same no matter where you go,” he said.

In defining the ethos of LandingPlace Suites, specifically, Bratcher noted the nascent brand is “reimagining how housekeeping and breakfast are executed” across the extended-stay segment.

The brand created a “landing” — redefining the space traditionally dedicated to breakfast.

I think it works in our favor. Anytime there are periods of market transition, it creates opportunities. We're in a great place where we can either acquire at a good valuation or help that owner from an economic perspective as their rate resets higher. So I think the timing is fabulous.

Jeremy Bratcher

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“The landing is a more community-type, multi-function room with various amenities. That's one of the signature items that we're offering and a way to repurpose that space for better guest engagement,” he noted.

In addition, Bratcher added that housekeeping for both brands would be offered as an à la carte service to guests, “which enables an owner to generate revenue through one of the largest expense departments in the hotel.”

When asked if a challenging economic climate may have given him pause before launching a pair of brands, Bratcher refuted the notion.

“I think it works in our favor. Anytime there are periods of market transition, it creates opportunities. We're in a great place where we can either acquire at a good valuation or help that owner from an economic perspective as their rate resets higher. So I think the timing is fabulous,” he said.

While the name LandingPlace is meant to apply to guests looking for a ‘landing place’ throughout their journey, Bratcher noted it can also apply to the company’s investment partners.

“As an owner, you have an origin and a destination for your assets and your investments. We want to be the landing place that gives you confidence in the brand and the support that you're going to receive, as well as the confidence that we're aligned with your vision from an economic perspective. We don't win unless they win. We're all about helping that owner win not just at the top line, but throughout the full P&L,” he said.