Value Place Continues Swift Development Pace, Inks More Than 350 Hotel - Apartment Franchise Commitments

Most Properties in the Extended Stay Hybrid Concept Open or Under Construction

Within Three Years

Feb 15, 2006, 00:00 ET from Value Place

    WICHITA, Kan., Feb. 15 /PRNewswire-FirstCall/ -- Value Place -- a new
 extended stay lodging brand launched just three years ago by industry
 visionary Jack DeBoer -- now has hotel - apartment franchise commitments for
 more than 350 properties in 27 states. Most of the extended stay hotel -
 apartment franchise properties will be open or under construction within three
 years. The company earned 150 of the new extended stay hotel - apartment
 franchise agreements in about four months.
     Value Place's ( ) extended
 stay hotel - apartment hybrid ( ) 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 Value Place extended stay hotel - apartment franchisee herself. "Our
 history in extended stay lodging and this niche product with its efficient
 operations model and fast ramp-up makes Value Place a logical franchise
 investment. Value Place's extended stay hotel - apartment franchise offering
 is unique."
     Value Place founder DeBoer also founded other extended stay hotel
 companies, including Residence Inn, Summerfield Suites and Candlewood Suites.
 He is, in fact, credited with inventing the extended-stay lodging concept.
     "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 extended stay brands. Other extended stay competitors 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.
     Value Place residents include business owners, contractors and others who
 need short-term housing. Value Place provides:
     --  Electronic locks; interior, locked corridors; and security cameras
     --  Studio, studio sleeper or studio double choices
     --  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. Headquarters are in Wichita, Kan.
 Value Place expects that more than 50 open properties will be open by year-
 end. In all, 14 properties are now open in Arkansas, Kansas, Missouri,
 Nebraska, Oklahoma, South Carolina and Texas.
 Available Topic Expert(s): For information on the listed expert(s), click
 appropriate link.
 Gina-Lynne Scharoun
 Jack DeBoer

SOURCE Value Place