WoodSpring Hotels (formerly Value Place) is an extended stay hotel brand in the United States, based in Wichita, Kansas. The brand offers 200+ WoodSpring Suites hotels and about a dozen Value Place hotels that are owned by a corporate entity and franchise partners.
The company was founded in 2003 by Jack DeBoer, the founder of Residence Inn, Summerfield Suites, Candlewood Suites, and WaterWalk Apartments. The first Value Place opened in October 2003 in Wichita. A franchising program was launched in June 2004.
As of April 2017, the company franchises, develops, manages, and owns 225 WoodSpring Suites, WoodSpring Suites Signature, and Value Place properties through its various operating entities. WoodSpring Hotels LLC (formerly Value Place LLC) owns 97 individual WoodSpring Suites, WoodSpring Suites Signature, and Value Place properties, and WoodSpring Suites Franchise Services (WHFS) (formerly Value Place Franchise Services LLC) has established about 128 properties for about two dozen franchisees/partners nationally. The hotel chain has presence in 33 states with more locations, including a New England presence, on the way. WoodSpring Hotels Property Management (WHPM) (formerly Value Place Property Management LLC) manages company-owned and about 15 franchisee-owned properties. 18 approved operating entities (property management companies or PMCs) are responsible for running the remaining hotels. There are also entities under WoodSpring Hotels LLC that find and develop real estate, build and maintain hotels, and oversee franchise support functions including franchise development, sales, and marketing.
The brand promises low costs and affordable rates. This, and a relatively sparse business model, helps keep overhead, ownership, and operating costs low. The extended stay hotels, which average 121 guest suites each, have an average of four employees (some part-time, some full-time) at each location, compared with an average of 22+ at other, more traditional nightly hotels and chains.
In August 2016 Gary DeLapp became CEO of the brand.
In April 2015 the company was renamed WoodSpring Hotels.
Video Value Place
References
Source of article : Wikipedia
0 Comments