First Value Place in Kansas City

Construction for the first Value
Place in Kansas City, Mo.—one of seven planned for the area—is now
under way. The franchisee, New River Holdings of Kansas City, Mo., will own and
manage this new hotel-apartment property. It is expected to open by mid-
summer.

Value Place ( http://www.myvalueplace.com/ ) is a new lodging concept
launched by industry visionary Jack DeBoer. DeBoer also founded Residence
Inn, Summerfield Suites and Candlewood Suites. DeBoer has dubbed the new
concept “short-term residential lodging.” Three Value Places are already
open in Wichita, Kan., and Oklahoma City. More than 45 others are under
development.

“Jack DeBoer—and his brands—are proven winners,” says Dave Martin,
president of New River Holdings. “We’ve received tremendous support from
the franchise team. That will be key to our success since we’re new to the
hotel industry.”

The 120-unit property is located at 11301 Colorado Avenue, just off U.S.
Highway 71 and south of Grand View Triangle, a growing residential and
business district. Weekly rates will start at $159.

Value Place is a hotel and apartment hybrid, a unique lodging approach
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.

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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.
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