Value Place
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| Company type | Private |
|---|---|
| Industry | Hospitality |
| Founded | 2003 |
| Defunct | April 2015  |
| Headquarters | Wichita, Kansas |
| Revenue | $223MM million (2014)[1] |
Number of employees | 500-1000[2] |
| Website | http://www.woodspring.com/ |
Value Place is an extended stay hotel chain in the United States, based in Wichita, Kansas.
The company was founded in 2003 by Jack DeBoer – the founder of Residence Inn, Summerfield Suites and Candlewood Suites. The first Value Place opened in October 2003 in Wichita, Kansas. A franchising program was launched in June 2004.
As of 2015, the company franchises, develops, manages, and owns Value Place properties through its various operating entities. Value Place LLC owns 84 individual Value Place properties, and Value Place Franchise Services LLC franchises 111 properties. Value Place Property Management LLC manages company- and franchisee-owned properties and other operating entities are responsible for development and construction operations.
The chain keeps its rates affordable by keeping its overhead costs low.[citation needed] The properties, which average 124 suites each, have an average of 4.5 employees at each location, compared with 16-22 at other chains.[citation needed]
The company CEO is Bruce Haase and the CFO is Kyle Rogg.
In April 2015 the company was renamed WoodSpring Hotels.
References
- ^ "January 23, 2015 company press release".
- ^ "LinkedIn Company Page".
