Value Place Hotel-Apartment Concept Expands to Arizona
Planned 'short-term residential' properties to offer cleaner, low-cost lodging
WICHITA, KS, December 15, 2005. Kanmo Partners of Salina, Kan., has signed an agreement with Value Place to build four hotel-apartment properties in the Tucson, Ariz., area. This is the group's first investment in the hospitality industry.
"We're pleased that Kanmo recognized Value Place as a smart real estate investment," says Gina-Lynne Scharoun, president of Value Place Franchise Services (www.myvalueplace.com). "As first-time lodging investors, they found our simple operations model very appealing."
Value Place is a short-term residential hotel-apartment hybrid that offers stays of a week or longer to residents. It is the only national brand offering low-cost, cleaner and safer apartment-style lodging. Lodging industry visionary Jack DeBoer founded the company in 2003.
The group's first property is located in south Tucson, near the intersection of Ajo Way and Interstate 10. It is near the Veterans Affairs Medical Center. Construction start is planned for late spring 2006. Weekly rates for the 121-unit property will start at $179.
Value Place headquarters are in Wichita, Kan. A total of twelve properties are open in Bentonville, Ark., Kansas City, Mo., Lincoln, Neb., Lubbock, Texas, Myrtle Beach, S.C., Oklahoma City and Tulsa, Okla., Omaha, Neb., and Wichita. Eight more are under construction.
In just more than one year of offering franchises, the company has already signed more than 220 franchise commitments. Value Place properties are set to open or be under construction in more than 23 states within two years.
Franchisees - hotel owners, real estate and apartment developers and others - can benefit from the brand's investment potential and operating efficiencies. Value Place offers lower start-up and operating costs, which affords the opportunity for greater potential revenue per square foot compared to traditional rental properties.
For residents, Value Place offers simple, yet high quality accommodations. Residents are business owners, contractors and others, including those who need short-term housing.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
