WICHITA, Kan. (October 26, 2012) – Jack DeBoer, who in 2002 founded the Value Place economy extended-stay lodging chain as the latest in a string of innovative and immensely successful hospitality initiatives, became one of the latest inductees into the prestigious Hospitality Hall of Honor last night, during a gala induction ceremony and dinner. DeBoer, widely recognized as the pioneer of the extended-stay and all-suite hotel concepts, joins a “Who’s Who” of industry leaders who have made extraordinary contributions to American and international business and society and have similarly been distinguished for their achievements by the University of Houston’s Conrad N. Hilton College of Hotel and Restaurant Management, which houses the Hall of Honor.

The currently 178-unit Value Place chain is part of an expansive legacy for DeBoer. His career in hospitality began following two years as a Military Police Officer during the Korean War. DeBoer returned to civilian life and teamed up with his father to build homes in southern Michigan. In 1966, DeBoer began building apartments and, by 1973, his company had built over 16,000 of them in 30 cities across 25 states. National Real Estate Investor recognized him as the “second-largest multi-family developer in the United States.” DeBoer went on to create the Residence Inn all-suite hotel chain in 1975 and build it to 103 corporate and franchised locations before selling it to Marriott Corp. 12 years later. He also founded the upscale all-suite Summerfield Hotel chain that he eventually sold to Hyatt Corp., and the Candlewood Hotel Company, which was eventually acquired by InterContinental Hotels Group. He is a member of the Board of Trustees of Chatham Lodging Trust, a self-advised real estate investment trust organized to invest in upscale extended-stay hotels and premium-branded select service hotels.

In addition to applying his drive to developing these properties, DeBoer has devoted extensive time to developing the entrepreneurial spirits and minds of others and supporting underdeveloped populations worldwide. He was a founder of the Center for Entrepreneurship at Wichita State University and is former Chairman of the Board of Trustees of Youth For Understanding, the world’s leading student exchange organization. An avid pilot and world traveler, DeBoer and his wife Marilyn are deeply involved in World Vision projects in Burma. In fact, all proceeds from “Risk Only Money,” the book he authored to impart his philosophy that success can and should be achieved without risking family, friends and reputation, benefit World Vision-Burma.

Though this is one of the most prestigious accolades DeBoer has received to date from his professional community – UCLA also presented him with its hotel industry Lifetime Achievement Award in 2001 – DeBoer has garnered many other honors from a wide range of organizations in his illustrious career. In 1992, he received “The Uncommon Citizen” award from The Wichita Chamber of Commerce, that group’s highest honor, and in 1997 he was inducted into the Wichita Business Hall of Fame. He was also included in The National Registry of Who’s Who™ in 1999, and received the Distinguished Alumni Award from Michigan State University in 2001. In May 2005, he was honored with a Doctorate of Humane Letters from Sterling College in Kansas. In 2010, he received the Lodging Conference’s coveted Above and Beyond Award.

Previous inductees to the Hospitality Hall of Honor include Starbucks Chairman/President CEO Howard Schultz, vintners Ernest and Julio Gallo, former vice chairman of Hilton Hotels Corp. Eric M. Hilton, restaurant critics and publishers Tim and Nina Zagat, Kentucky Fried Chicken founder Colonel Harland Sanders, and many others whose names or companies and products are well-known around the world.

“It is a distinct honor to join such an elite group who have brought so much not only to the world of restaurants and hospitality but also to the world at large,” said DeBoer. “I am incredibly fortunate to have achieved what I have in my career, and feel immeasurably rewarded when I can use my experience to inspire others to succeed in their own endeavors. I am grateful to the University of Houston for this honor.”

Value Place’s economy extended-stay properties offer Hotel Convenience and Apartment Essentials™.  Amenities range from “at-home” basics like stovetops, full-size refrigerators and on-site laundry facilities to “away-from-home” services such as front-desk and key card security and the flexibility to pay by the week and stay as long as is necessary. The chain is the country’s largest economy extended-stay franchise, with 178 U.S. properties. The company has blossomed largely thanks to a carefully curated formula developed by DeBoer, a formula embodied in the company’s closely adhered Brand message: “Affordable. Clean. Safe. Simple. Flexible.”

Value Place has franchise opportunities available throughout the United States to qualifying investors. For more information, call (316) 630-5505, or visit ValuePlaceFranchise.com.

About Value Place Franchise Services LLC
Founded in 2002, Value Place is an economy extended-stay lodging brand that features remarkably affordable weekly rates, rigorous cleanliness standards and secure temporary lodging with an unparalleled commitment to the comfort, privacy and peace of mind of each guest. Value Place currently has 178 locations open in 31 states. For more information, contact Value Place at (316) 630-5505 or visit ValuePlaceFranchise.com.