|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 extended 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 185 locations in 32 states as of March, 2014.
According to company documents, Value Place is: The nation’s largest economy extended stay lodging brand, Value Place (www.valueplace.com)provides Affordable, Clean, Safe and Simple short-term lodging for a broad demographic that includes business professionals, families, construction crews, housing transitioners, leisure travelers and military personnel. Value Place franchises, develops, manages and owns Value Place properties through its various operating entities. Value Place LLC owns 75 individual Value Place properties, as well as Value Place Franchise Services LLC, which franchises 185 properties. Value Place Property Management LLC manages company- and franchisee-owned properties and other operating entities are responsible for development and construction operations.
Rates and Service
All Value Place properties operate on a "weekly rate" basis. Accommodations include fully furnished studios with modified kitchen, cable or satellite television, 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 high-speed and, at most properties, WiFi Internet access, on-site coin laundry and vending, coffee makers, dish packs, additional linen service and additional room cleaning.
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, clean, safe, and simple extended stay lodging concept. A franchising program was launched in June 2004.
Jack DeBoer, Chairman and Founder;
Kyle Rogg, President and COO;
Randy Fox, President, Value Place Property Management
Jim Strawn, President, Value Place Construction Services
David Redfern, President, Value Place Real Estate Development
- Value Place