in Seven States; Jack DeBoer Launched
the Brand in 2003
|WICHITA, Kan., July 25, 2005 - Four Kansas holding companies have signed
separate agreements with Value Place to build 86 properties in the Midwest
and South. These properties are in addition to 50 Value Place properties
planned for these regions.
Value Place, a "Short-Term Residential Property," is a hotel-apartment hybrid offering affordable stays for a week or longer. It plans to be the national low-cost provider of safer, cleaner, apartment-style lodging. Lodging industry visionary Jack DeBoer launched Value Place ( http://www.myvalueplace.com ) in 2003.
"We're pleased to continue growing in these important regions," says Gina-Lynne Scharoun, president of Value Place Franchise Services.
The companies of Blue Water Holdings, New River Holdings, SunRidge Holdings and Vineyard Holdings are planning properties for Kansas, Louisiana, Nebraska, Nevada, Tennessee, Texas and Virginia. The specific agreements are:
Value Place is based in Wichita, Kan. Seven properties are open in Bentonville, Ark., Lubbock, Texas, Myrtle Beach, S.C., Oklahoma City, and Wichita. Twelve more are under construction. In all, the company has more than 175 franchise commitments.
Company founder DeBoer invented the extended-stay hotel concept. He also founded Residence Inn, Summerfield Suites and Candlewood Suites and developed more than 16,000 apartments.
|Also See:||Jack DeBoer Is At it Again; Unveils Prototype for His Fourth Hotel Chain / March 2002|
|New River Holdings Building 120 unit Value Place in Kansas City, Missouri; Jack DeBoer's New Lodging Concept Has 45 Properties Under Development / February 2005|