WICHITA, Kan., Aug. 10, 2006 (PRIMEZONE) -- Wichita's newest Value Place extended stay hotel -- the city's third -- celebrated its official opening yesterday. The 121-unit property is located at 7525 W. Taft St., near the intersection of Kellogg (US Highway 54) and Ridge Road. Weekly rates start at just $169.
Yesterday's event was in conjunction with a news conference at the hotel, where Jack DeBoer -- Value Place founder and hotel industry visionary -- announced that Value Place has now signed more than 500 franchise commitments. This remarkable milestone was achieved in just two years -- and only four years after DeBoer founded the company in Wichita.
DeBoer, credited with founding the extended stay segment of the hospitality industry, told reporters that Value Place (www.valueplace.com) plans to be the nation's leading lower-cost provider of cleaner, safer and simpler extended stay lodging.
"I've been in this business most of my life," DeBoer says. "And I told our team at the beginning: 'This is the best idea I've ever had!' Fortunately, that has proven to be true."
DeBoer and his partner, Value Place LLC chief executive officer Greg Kossover, are the largest franchisees of the brand, with the most open properties in the system.
Value Place's local impact
"We're encouraged by the remarkable response we've had in the Wichita area -- and across the country the concept is being well received, as well," says David Redfern, Value Place president. "We are excited to be able to serve West Wichita now.
"Our business model allows for a lower cost, cleaner, safer, simpler solution for our guests," says Redfern. "We fit a real need for our community by providing affordable temporary housing to business travelers, contractors, men and women in uniform, people in transition, and others.
"This particular location is a perfect fit for our property and its residents," says Redfern. "Contributing almost a quarter million dollars in taxes last year from the two open properties in North and South Wichita, the West Wichita Value Place will increase positive economic impact through job creation and additional taxes payable."
The first Value Place in the nation opened in October 2003 on Wichita's northeast side at 3401 N. Great Plains Drive, near Kansas Highway 96 and Oliver St. The second Wichita property to open, in July 2004, is located at 4665 S. Broadway St., near West 47th St. South.
Suites and amenities
Value Place offers three standard rooms: studio, studio sleeper and studio double. All feature a full-sized bed and kitchen with full-sized refrigerator, stovetop and microwave. Amenities include satellite TV and biweekly housekeeping. Residents can purchase or rent extras, such as additional housekeeping, dishes, cookware and high-speed Internet. Safety features include security cameras, electronic locks and interior, locked corridors.
The company
Value Place headquarters are in Wichita, Kan., employing 65 people locally. There are 23 Value Place hotels open now, in 11 states, with 17 more under construction. Construction is expected to begin on about 40 more within 90 days.
Company founder Jack DeBoer also founded Residence Inn, Summerfield Suites and Candlewood Suites. He is considered the inventor of the extended stay hotel concept. In the 1970s, he was the nation's second largest apartment developer.
Wichita hotels and apartments
Along with partner Greg Kossover, DeBoer owns Hotel at Old Town, Cambridge Suites, and Polo Club Apartments here. Together, these companies employ an additional 71 Wichitans.