Value Place Hits 517 Franchises Sold

Biz Journals:

Jack DeBoer, Value Place founder, made the announcement during a news conference at the opening of the company’s new 121-room property near Kellogg and Ridge Road in west Wichita. So far, 25 Value Place properties are open in 11 states. Another 40 locations are due to start construction within the next 90 days.

“The product is unique, the market is very broad and frankly the existing properties are just unbelievable,” DeBoer says. “It is a time and it is a product that fits and everybody recognizes and says, ‘Where do I sign?’ ”

DeBoer is credited with creating the extended-stay hotel concepts through his development of Residence Inn, Candlewood Suites and Summerfield Suites.