Hotel Online  Special Report



Quanah Properties Planning to Build Jack DeBoer's Value Place Hotel-apartments in Seven Texas and California Locations

WICHITA, Kan., April 7, 2005 -  Quanah Properties, a Dallas real estate development firm, recently signed an agreement with Value Place to build its hotel-apartment properties in seven Texas and California counties.

Value Place was recently launched by lodging industry visionary Jack DeBoer. DeBoer also founded Residence Inn, Summerfield Suites and Candlewood Suites.

"We're always looking for great real estate opportunities," says Gary L. Webb, executive manager of Quanah Properties. "Of all the opportunities we researched, we chose Value Place."

Construction begins mid-summer for Quanah properties in Fort Worth, Grand Prairie and Duncanville, Texas. The Forth Worth property will be between Meacham and Alliance airports, near Interstate 35 and U.S. Highway 820. The Grand Prairie property is planned at Interstate 20 and Great Southwest Parkway, near Arlington, Texas. The Duncanville property will be on U.S.  Highway 67, at Cockrell Hill Road.  Quanah plans to select sites in California in a few months.

Value Place is a hotel and apartment hybrid. Three properties are already open in Wichita, Kan., and Oklahoma City, with eight more under construction.  More than 45 others are under development. Value Place is a unique concept that benefits franchisees and residents alike. Franchisees enjoy lower start-up and operating costs, which yield greater potential revenue per square foot compared to traditional rental properties. Residents get clean, safe and low-cost accommodations for weekly or longer stays.

Potential franchisees -- hotel owners, real estate and apartment developers and general investors -- can benefit from the new brand's investment potential and operating efficiencies.

Many Value Place residents are business owners, contractors and others who need temporary lodging for job assignments, or individuals who need short-term housing. Value Place plans to be the national low-cost provider of safe, clean, apartment-style lodging. Residents can choose from three standard room options: studio, studio sleeper and studio double.

Company founder DeBoer -- in addition to inventing the extended-stay hotel concept and founding three successful hotel brands -- developed more than 16,000 apartments. In the 1970s, he was the nation's second largest apartment developer. DeBoer considers Value Place to be his best real estate investment yet. It is his first venture in the economy-lodging segment -- one he feels is greatly lacking in suitable, affordable accommodations.


Also See: Value Place Goes Live with InnLink’s Reservation Services / January 2005

New River Holdings Building 120 unit Value Place in Kansas City, Missouri; Jack DeBoer's New Lodging Concept Has 45 Properties Under Development / February 2005

To search Hotel Online data base of News and Trends Go to Hotel.Online Search

Home | Welcome! | Hospitality News | Classifieds | Catalogs & Pricing | Viewpoint Forum | Ideas/Trends
Please contact Hotel.Online with your comments and suggestions.