Value Place, which offers weekly rates as low as $159, has signed up 500 franchise properties in less than two years.
“This swift growth makes Value Place one of the nation’s fastest growing hotel brands — and we’re not stopping here,” said founder Jack DeBoer.
He said his company has committed more than $2 billion to developing the extended stay brand.
There are 23 Value Place hotels already open in 11 states with 17 more under construction. Construction is planned for 40 more properties within 90 days, according to Mr DeBoer.
The properties are a new option for travelers, he said.
The company offers “cleaner, safer, simpler lodging at affordable rates for weekly or longer stays,” he added.
Mr DeBoer’s experience includes founding Residence Inn, Summerfield Suites and Candlewood Suites, according to information from Value Place. He is said to have invented the extended stay concept.
Report by David Wilkening
