WICHITA, Kan., April 21 /PRNewswire/ -- When you really believe in the
product you are selling, says Value Place Franchise Services President
Gina-Lynne Scharoun, it just makes sense to buy one yourself. In Scharoun's
case, this is no small step, however. Why? The product isn't a household
appliance, a new computer, or even a new car.
It's a hotel.
Construction begins today for Scharoun's Value Place hotel-apartment
property in Tulsa, Okla. Scharoun and her husband, Robert, are majority
shareholders in Valued Partners. Valued Partners is a new company formed with
a small group of investors to develop the property.
"It just seemed logical to become a franchisee myself," says Scharoun. "I
believe that strongly in Value Place as a smart investment."
Value Place ( http://www.myvalueplace.com ) -- a unique "short-term
residential" concept -- was launched in 2003 by industry visionary Jack
DeBoer. DeBoer also founded Residence Inn, Summerfield Suites and Candlewood
Suites. DeBoer and Scharoun are long-time associates.
"Jack has always been a rule-breaker -- and extremely knowledgeable
regarding real estate. That's why his projects are so successful," says
Scharoun, managing partner of the company. Robert Scharoun is president. He is
overseeing the project, including the financing, construction and future
operations when the property opens in October.
Weekly rates for the 121-unit property begin at $159. It is centrally
located at 3415 S. Sheridan Road, at the intersection of Sheridan Road and
Broken Arrow Expressway. The location also is within a half mile of Interstate
44, offering easy and quick access to both of Tulsa's major east and west
highways. The property is about five miles from downtown, The University of
Tulsa, and Tulsa International Airport. Also, the Tulsa State fairgrounds and
Expo Square are only two miles from this future Value Place.
Value Place is a hotel and apartment hybrid that benefits franchisees and
residents. Franchisees enjoy lower start-up and operating costs, which yield
greater potential revenue per square foot compared to traditional rental
properties. Residents include business owners, contractors and others who need
short-term housing. Value Place provides cleaner, safer and lower-cost
accommodations for weekly or longer stays.
Value Place has headquarters in Wichita. Three company-owned properties
are open there and in Oklahoma City. More than 45 others are under
development. Potential franchisees include hotel owners, real estate and
apartment developers, as well as general investors.
Company founder DeBoer -- in addition to inventing the extended-stay hotel
concept and founding three successful brands -- developed more than 16,000
apartments in the 1970s. At that time, he was the nation's second largest
SOURCE Value Place