Value Place Achieves Major Development Milestone: Commitments for 200 Hotel- Apartment Franchises Nationwide

Most of the short-term residential properties to begin construction within

two years

Oct 06, 2005, 01:00 ET from Value Place

    WICHITA, Kan., Oct. 6 /PRNewswire/ -- Value Place, a new brand by lodging
 industry visionary Jack DeBoer, now has franchise commitments for more than
 200 hotel-apartment properties nationwide. The company reached the milestone
 just three years after being founded -- and one year after beginning its
 franchise program.
     "Within the next two years, our short-term residential properties will be
 open or under construction in more than 23 states," says DeBoer. Considered
 the inventor of extended stay lodging, DeBoer also founded Residence Inn,
 Summerfield Suites and Candlewood Suites.
     Value Place ( ) is a hotel-apartment hybrid.
 It offers cleaner and safer lodging at affordable rates for weekly or longer
 stays. Suites start at just $149 weekly in many locations. Other brands that
 offer weekly stays are often older, offer fewer amenities, and cost more.
     The demand
     Value Place logged more franchises in its first eight months than were
 sold in the first three years for DeBoer's Residence Inn and Candlewood Suites
 brands combined.
     "Our franchisees have diverse backgrounds -- real estate, self-storage,
 general investors and more," says Gina-Lynne Scharoun, president of Value
 Place Franchise Services. "They're able to draw upon knowledge from their
 respective businesses and transition right into Value Place."
     Value Place residents are business owners and contractors -- those who
 travel for business but generally pay their own way. Others include those who
 need short-term housing.
     How Value Place is different
     Value Place offers investors many advantages:
     For franchisees:
     -- Each property requires as few as four to 4.5 full-time equivalent
        positions for operations.
     -- The hotel-apartment hybrid concept is based on an apartment-style
        operating model. This results in lower operating expenses than
        traditional hotel properties.
     -- Other benefits include all-new construction and fast ramp-up.
     For residents:
     -- Suites offer simple, yet high-quality accommodations.
     -- Safety features include electronic locks; interior, locked corridors;
        and security cameras.
     -- Room options include studio, studio sleeper and studio double.
     -- All include a 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.
     Nine properties are open in Bentonville, Ark., Lubbock, Texas, Myrtle
 Beach, S.C., Lincoln, Neb., Kansas City, Mo., Oklahoma City and Wichita. Ten
 more are under construction.

SOURCE Value Place