Value Place

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Value Place
Private
Industry Hospitality
Founded 2003
Headquarters Wichita, Kansas
Revenue $223MM million (2014)[1]
Number of employees
500-1000[2]
Website http://www.woodspring.com/

WoodSpring Hotels (formerly Value Place) is an extended stay hotel brand in the United States, based in Wichita, Kansas. The brand offers 200+ WoodSpring Suites hotels and about a dozen Value Place hotels that are owned by a corporate entity and franchise partners.

The company was founded in 2003 by Jack DeBoer – the founder of Residence Inn, Summerfield Suites and Candlewood Suites and WaterWalk Apartments. The first Value Place opened in October 2003 in Wichita, Kansas. A franchising program was launched in June 2004.

As of April, 2017, the company franchises, develops, manages, and owns 225 WoodSpring Suites, WoodSpring Suites Signature and Value Place properties through its various operating entities. WoodSpring Hotels LLC (formerly Value Place LLC) owns 97 individual WoodSpring Suites, WoodSpring Suites Signature and Value Place properties, and WoodSpring Suites Franchise Services (WHFS) (formerly Value Place Franchise Services LLC) has established about 128 properties for about two dozen franchisees/partners nationally. The hotel chain has presence in 33 states with more - including New England presence - locations on the way. WoodSpring Hotels Property Management (WHPM) (formerly Value Place Property Management LLC) manages company- and about 15 more franchisee-owned properties. Eighteen approved operating entities (property management companies or PMCs) are responsible for running the remaining hotels. There are also entities under WoodSpring Hotels LLC that find and develop real estate, that build and maintain hotels, and that oversee franchise support functions including franchise development, sales, marketing, and more.

The brand promises low costs and affordable rates which and a relatively sparse business model helps keep overhead/ownership/operating costs low.[citation needed] The extended stay hotels, which average 121 guest suites each, have an average of 4 employees (some part-time, some full-time) at each location, compared with and average of 22+ at other/traditional/nightly hotels and chains.[citation needed]

In August 2016 Gary DeLapp became CEO of the brand.

In April 2015 the company was renamed WoodSpring Hotels.

References[edit]

  1. ^ "January 23, 2015 company press release". 
  2. ^ "LinkedIn Company Page".