|This article relies on references to primary sources. (December 2011)|
||This article appears to be written like an advertisement. (December 2012)|
|Revenue||$739 million (2008)|
Value Place is an extend stay hotel chain in the United States, based in Wichita, Kansas. It is currently one of the fastest growing hotel franchises in the United States, with 175 locations in 30 states as of January 2012.
The brand caters to traveling workers and guests that are relocating to a new community, building or renovating a new home, or visiting for family events, and vacationers looking to stretch their travel dollars. More specifically the chain is suited for small business travelers and consultants in mind, who often foot their own bill for lodging and other travel expenses or are traveling on a strict per diem budget.
Rates and Service
All Value Place properties operate on a "weekly rate" basis. Accommodations include fully furnished studios with full kitchen, towels and linens; expanded cable network with a premium movie channel, all utilities, and bi-weekly studio cleaning - providing guests with the right amount of what they need for an extended stay, while leaving more money in their pockets. Additional amenities offered for a nominal fee include local and long-distance calling, high-speed Internet access, onsite laundry, vending, dishpacks, and other kitchen supplies.
The chain keeps its rates affordable by keeping its overhead costs low. The properties, which average 124 studios each, have an average of 4.5 employees at each location, compared with 16-22 at other chains. The chain has seen a demand in the services it provides during slower economic times.
In 2003, entrepreneur Jack DeBoer – known in the industry as the originator of extended stay lodging and founder of Residence Inn, Summerfield Suites and Candlewood Suites, recognized a void in the economy segment of the hotel industry. While there were plenty of mid-price and upscale properties with fees and amenities designed for corporate business travelers and family vacationers, there were not many practical options for small- and mid-size business owners and those on the move in their own community who were footing their own bill. The first Value Place opened in October 2003 in Wichita, Kansas offering an affordable, cleaner, safer, simple and flexible extended stay lodging concept. Later a franchising program was launched in June 2004.
Jack DeBoer, Chairman and Founder;
Dan Weber, CEO;
Kyle Rogg COO;
David Redfern, President/Value Place Real Estate Services, Value Place Property Management;
- Value Place