Originally created 04/12/06

Pair of Value Place hotels planned for Augusta



They haven't built the first yet, but developers of an extended-stay hotel already have a second in the works for Augusta.

Wichita, Kan.-based Value Place LLC has plans for a 107-room hotel to be built along River Watch Parkway near the Interstate 20 interchange.

Construction on the $4 million hotel is likely to start within about a month, with a fall opening planned, franchisee Fred Gibbs said. Trees still need to be cleared from the 1.6-acre plot, located next to the Baymont Inn & Suites under construction at River Watch Parkway and River West Drive.

The company has also announced plans for a similarly sized Value Place Hotel on the Noland Connector, a stretch of road off Gordon Highway near Bobby Jones Expressway.

Construction on that hotel will begin later this summer pending the acquisition of the land, Mr. Gibbs said.

The Spartanburg, S.C., resident said he and his investors have no qualms opening two similar hotels in the same market.

"The demographics and market support it, based on our market studies," he said. "We just feel really good about it."

He said I-20 travelers are likely to feed the River Watch site and the second should benefit from Fort Gordon traffic.

Value Place, which offers one- and two-bed studio rooms with full kitchens, is entering the Augusta market for the first time. The company's nearest hotel is in Myrtle Beach, S.C.

Mr. Gibbs is also a franchisee for Aiken and Asheville, N.C. Plans are under consideration for a Value Place in either of those cities, he said.

Reach Tony Lombardo at (706) 823-3227 or tony.lombardo@augustachronicle.com.

VALUE PLACE HOTEL

HEADQUARTERS: Wichita, Kan.

PRESIDENT: Gina-Lynne Scharoun

LOCATIONS: Operates 17 extended- stay hotels nationwide with 11 under construction

PROFILE: Founded in 2004, by Chairman Jack DeBoer, a hotel developer whose previous brands include Residence Inn, Summerfield Suites and Candlewood Suites.

Source: Value Place LLC



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