function setOptionByValue(select, value){

    var options = select.options;

    for(var i = 0, len = options.length; i < len; i++){

        if(options[i].textContent === value){

            select.selectedIndex = i;

            return true; //Return so it breaks the loop and also lets you know if the function found an option by that value

        }

    }

    return false; //Just to let you know it didn't find any option with that value.

}

​

setOptionByValue(document.getElementById('ifacility'), 'Room 2');