WoodSpring Suites
 | |
| Formerly | Value Place |
|---|---|
| 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 |
WoodSpring Suites, originally named Value Place[2], is an extended stay hotel brand owned by Choice Hotels.[1]
Overview
[edit]
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 brand underwent a revamp in 2013, when a new 123-room "Value Place 2.0" prototype debuted.[3] Other changes included new air-conditioning units, LED lights, and motion-controlled lighting. These were implemented to reduce energy costs.
In April 2015, the brand changed its name from Value Place to WoodSpring Suites, and announced a spinoff brand, WoodSpring Suites Signature.[2][4][5]
In December 2017, WoodSpring Suites was sold to Choice Hotels for approximately $231 million.[6][7] At the time of acquisition the brand had around 240 locations.[9] As of December, 2024, there were 256 hotels with 30,846 rooms across the United States.[1]
References
[edit]- ^ a b c "10-k for 2024". www.sec.gov. Retrieved June 30, 2025.
- ^ a b Turner, Shawn (April 23, 2015). "CEO: New Name Lifts Value Place Image". CoStar. Retrieved August 26, 2025.
- ^ a b Watkins, Ed (April 24, 2013). "New Generations of Extended-stay Brands". CoStar. Retrieved August 26, 2025.
- ^ a b "Value Place Changing Name to WoodSpring Suites and Developing New Brand, WoodSpring Suites Signature". Hospitalitynet.org. 27 April 2015.
- ^ a b "WoodSpring Suites Celebrates the Grand Opening of Their First Namesake Hotel in Oklahoma City" (Press release). Business Wire. 18 August 2015.
- ^ a b "Choice Hotels to Acquire WoodSpring Suites Brand and Franchise Business". Choice Hotels International - Media Center.
- ^ a b "Choice Hotels Completes Acquisition Of WoodSpring Suites Brand And Franchise Business". markets.businessinsider.com. September 15, 2023.
- ^ Keller, Laurel A. (July 20, 2009). "Value Place: A Hotel/Apartment Fusion". Hotel & Leisure Advisors. Retrieved September 16, 2025.
- ^ "Choice to Acquire WoodSpring Suites for $231 Million". CoStar. December 18, 2017. Retrieved August 26, 2025.
