Extended Stay Vet Launches New Brand

Jack DeBoer, founder of extended stay brands Residence Inn, Summerfield Suites and Candlewood Suites, today opened a Value Place hotel, his latest extended stay venture, in Oklahoma City, Okla. The first two properties in the chain opened this year in Wichita, Kan., the chain's headquarters city. Value Place, which has 20 additional properties in development, operates in the economy tier of extended stay, with rates beginning at $149 per week.

Like other extended stay brands, Value Place is intended for travelers staying seven nights or longer, with some travelers booking for months at a time. Daily rates depend on the length of stay. However, unlike higher price point chains such as Residence Inn, which is now part of Marriott International, or Summerfield Suites, which is now part of Wyndham International, units do not come with fully furnished kitchens or complimentary high-speed Internet access. "Rather, travelers can purchase or rent dishes, cookware and other extras, depending on their individual needs," said Value Place president David Redfern.

DeBoer sold his most recent extended stay venture, Candlewood Suites, to InterContinental Hotels Group in late 2003.