Value Place Inks More than 350 hotel-apartment Franchise Commitments
Most will be open or under construction within three years
WICHITA, KS, February 15, 2006. Value Place, a new lodging brand launched just three years ago by industry visionary Jack DeBoer now has franchise commitments for more than 350 properties in 27 states. Most properties will be open or under construction within three years. The company earned 150 of the new agreements in about four months. Value Place is a "short-term residential" hotel-apartment hybrid. It offers clean, safe lodging at affordable rates for weekly or longer stays. Suites start at just $149-a-week in many locations.
"This remarkable growth shows we offer exactly what investors are looking for," says Gina-Lynne Scharoun, president of Value Place Franchise Services and a franchisee herself. "Our history in lodging and this niche product with its efficient operations model and fast ramp-up makes Value Place a logical franchise investment."
Value Place founder DeBoer also founded Residence Inn, Summerfield Suites and Candlewood Suites. He is credited with inventing the extended-stay lodging concept. He also was the nation's second largest apartment developer in the 1970s.
"I believe so much in the brand that my husband and I opened our own Value Place in Tulsa (Okla.) last November," says Scharoun.
The Value Place difference
Value Place's simple - yet high quality - accommodations stand apart from many other brands. Others offering weekly rates tend to be older, feature fewer amenities and cost more. A number of lodging brands are adding high-end amenities, but raising rates, too.
"Many of our residents pay their own way and don't travel on company expense accounts," says Scharoun. "They need lodging that provides exactly what they need at a price within their budget." Value Place residents include business owners, contractors and others who need short-term housing. Value Place provides:
.Safety features that include electronic locks; interior, locked corridors; and security cameras
.Choice of studio, studio sleeper or studio double
.Full-size bed and kitchen with full-size refrigerator, stovetop and microwave
Amenities include cable or satellite TV, and biweekly housekeeping. Residents can purchase extras, such as additional housekeeping, dishes, cookware and high-speed Internet.
Company background
Jack DeBoer founded Value Place in 2003. Company headquarters are in Wichita, Kan. By year-end, Value Place plans to have more than 50 open properties. In all, 14 properties are now open in Arkansas, Kansas, Missouri, Nebraska, Oklahoma, South Carolina and Texas.
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