Value Place Achieves Major Development Milestone: Commitments for 200 Hotel-Apartment Franchises Nat
Most of the short-term residential properties to begin construction within two years
WICHITA, KS, October 6, 2005. Value Place, a new brand by lodging industry visionary Jack DeBoer, now has franchise commitments for more than 200 hotel-apartment properties nationwide. The company reached the milestone just three years after being founded - and one year after beginning its franchise program.
"Within the next two years, our short-term residential properties will be open or under construction in more than 23 states," says DeBoer. Considered the inventor of extended stay lodging, DeBoer also founded Residence Inn, Summerfield Suites and Candlewood Suites.
Value Place (www.myvalueplace.com) is a hotel-apartment hybrid. It offers cleaner and safer lodging at affordable rates for weekly or longer stays. Suites start at just $149 weekly in many locations. Other brands that offer weekly stays are often older, offer fewer amenities, and cost more.
Value Place logged more franchises in its first eight months than were sold in the first three years for DeBoer's Residence Inn and Candlewood Suites brands combined. "Our franchisees have diverse backgrounds - real estate, self-storage, general investors and more," says Gina-Lynne Scharoun, president of Value Place Franchise Services. "They're able to draw upon knowledge from their respective businesses and transition right into Value Place."
Value Place residents are business owners and contractors - those who travel for business but generally pay their own way. Others include those who need short-term housing.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
