Carrie Rengers

Jack DeBoer discusses his current and future WoodSpring Suites ownership

Choice Hotels International has an agreement to acquire WoodSpring Suites in a $231 million deal.
Choice Hotels International has an agreement to acquire WoodSpring Suites in a $231 million deal. Courtesy illustration

After WaterWalk owner Jack DeBoer this week finished explaining that he doesn’t yet have a deal with Gander Outdoors for the former Gander Mountain space, we took the opportunity to ask him about the pending sale of WoodSpring Suites.

In December, Choice Hotels International announced it has an agreement to acquire WoodSpring Suites – its brand and almost 240 extended-stay hotels – from WoodSpring Hotels Holdings.

DeBoer started WoodSpring as Value Place in 2003. In 2013, he received a $100 million investment from New York-based private equity firm Lindsay Goldberg in order to grow the brand more quickly.

It wasn’t immediately clear how much, if any, interest DeBoer has left in the company.

“Let’s just say I have an interest,” he says. “Oh, yeah.”

The deal hasn’t closed yet, and DeBoer says it’s “still to be determined” if he’ll have any ownership after the sale.

“There’s always hair on those kinds of things,” he says. “Which means there’s a lot of stuff that nobody really has control over that sort themselves out in the process.”

DeBoer also says that he couldn’t comment at the time of the Choice Hotels story because he was traveling where there wasn’t cell phone service.

“That’s my escape. I go places where they don’t have cell,” he says.

“There’s certain places in the Bahamas where that works, and the weather’s good, and there’s no TV. That’s not all bad.”

Frank Russold gives a tour of his condo at WaterWalk Place, which doubled in size a few years ago when he purchased an adjacent unit. It's a hip spot with unparalleled views of downtown fireworks. (Matt Riedl/The Wichita Eagle)

Carrie Rengers: 316-268-6340, @CarrieRengers

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