WoodSpring Suites
American extended stay hotel chain
From Wikipedia, the free encyclopedia
WoodSpring Suites, originally named Value Place,[2] is an extended stay hotel brand owned by Choice Hotels.[1] As of December 2024, there were 256 hotels with 30,846 rooms across the United States.[1]
| |
| Formerly | Value Place (2003–2015) |
|---|---|
| Company type | Extended Stay Hotel |
| Industry | Hotel |
| Founded | 2003 |
| Founder | Jack DeBoer |
Number of locations | 256 (as of December 31, 2024)[1] |
Area served | United States |
| Parent | Choice Hotels |
| Website | www |
Overview
The hotel chain was founded as Value Place in 2003 by Jack DeBoer.[3] DeBoer, who kickstarted the extended-stay hotel segment back in the 1970s,[4] also founded Residence Inn, now owned by Marriott,[5] and Candlewood Suites, now owned by IHG.[6] The brand was pitched as hotel-apartment hybrid with a one-week minimum stay and a minimalist design.[7][8]
The first Value Place opened in Wichita, Kansas, in 2004.[9] Other early locations included a hotel in Lubbock, Texas, and several properties in Oklahoma City.[10] By 2009, the brand had almost 150 locations in operation.[8]
The brand underwent a revamp in 2013, when a new 123-room "Value Place 2.0" prototype debuted.[3] The aim was to reduce operational costs, making properties easier and quicker to clean. Other changes included new air-conditioning units, LED lights, and motion-controlled lighting.
In April 2015, the company changed its name from Value Place to WoodSpring Suites.[2][4] Bruce Haase, the CEO of WoodSpring at that time, remarked that customers had been "reluctant to stay with us because of what our brand name communicated to them".[2] At the time of the change, the company had 84 company-owned locations and 112 franchised locations.[11] 2015 also saw the arrival of a mid-priced spinoff brand, WoodSpring Suites Signature.[4] The spinoff featured a fitness center, laundry facilities, and meeting spaces.[12]
In December 2017, private equity-firm Lindsay Goldberg sold WoodSpring Suites brand and franchise to Choice Hotels for approximately $231 million.[13][6] At the time of acquisition the brand had around 240 locations.[14]
