26
Dec
Kansas extended-stay pioneer's concept sells for $231M
Wichita businessman Jack DeBoer’s track record just got another sparkling review with the $231 million sale of the extended-stay concept, formerly known as as Value Place, that he founded.
DeBoer, now CEO of WaterWalk Hotel Apartments, designed and built the first Residence Inn, an all-suite hotel, in downtown Wichita in 1975, then built or franchised 103 more properties before selling The Residence Inn Co. to Marriott Corp. in 1987.
In 1988, he co-founded Summerfield Hotel Corp., a second-generation…
Source: Arizona Business Journal
