Wichita-based Value Place, a company Jack DeBoer founded in 2003, is rebranding its extended-stay concept.
“Effective today, we are changing the name of Value Place to WoodSpring Suites,” says CEO Bruce Haase.
He and president and COO Kyle Rogg announced the change at the 2015 AAHOA Annual Convention & Trade Show in Long Beach, Calif., Thursday morning.
Over the next nine months, the rebranding will roll out to 196 Value Place properties, 84 of which the company owns, in 32 states.
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“Value Place was a perfect name in 2003 when we were mostly focused on price,” Rogg says.
He says the chain’s properties have other attributes, though, such as being clean and safe.
“People sort of got it’s low priced, but they didn’t really get the other pieces of it,” Rogg says.
He says some guests “came with a little bit of concern.”
“Once we got them in the door, our guests really liked it.”
Haase says the company did “a tremendous amount of consumer research to evaluate that rebranding.”
He says the company believes it “can bring in new types of customer segments” with the change.
Haase says the rebranded name will appeal to existing guests, “And it appeals to guests that we can steal from the competition.”
He and Rogg say one of the objectives for WoodSpring is to truly build the company into a more national brand.
“We believe that the rebranding will help us become more widely distributed, more national,” Rogg says.
There also will be what the company calls an “enhanced brand extension” with WoodSpring Suites Signature, which is a concept geared to guests who aren’t as concerned about price. The Signature properties won’t be high end, but they’ll be more compatible with competition in more expensive markets.
“It allows us to compete more effectively in those markets,” Rogg says.
Last month, Have You Heard? reported that the company, which has 17,000 square feet at Wilson Estates Office Park at 8621 E. 21st St., is close to a deal for a new headquarters here.
Also, it will be moving its call center from Florida to the new headquarters.
WoodSpring has between 900 and 1,000 employees nationwide.
Rogg says employees and franchisees are “pumped up” about the rebranding.
“Today, it’s created excitement,” he says.
Going forward, he says that “it makes a lot of things easier for our people.”
“It’s easier to go get business. It’s easier to explain what we are,” Rogg says. “We really think it will just effectively communicate who we are.”