FAIRFIELD — Value Place, a Wichita, Kansas-based hotel chain that specializes in low prices and extended stays, is building a new 121-room, four-story hotel in Fairfield.

Construction on the hotel, located at Fairfield Business Drive in the southern end of the city off Ohio 4, will be finished in the next 12 to 18 months, company officials said.

Value Place was founded in 2003 by Jack DeBoer, who founded Residence Inn, which is now owned by Marriott. The chain has 90 hotels in more than 20 states and is expanding, said Value Place spokeswoman Shay Stegmaier.

"We're concentrated primarily in the Southeast, but we've moved upwards north and continued to evolve west as well," she said.

Stegmaier said the company's research has shown southwest Ohio has a need for Value Place, which has one of three styles of studio room plans with full kitchens that are rented by the week. Other communities targeted to have a Value Place hotel include Mason, Florence, Forest Park and Sharonville.

"A lot of our guests are actually from the area," Stegmaier said.

"They could be waiting on a home remodel, waiting on a home to close, waiting on a home to rebuild, or buying a new home. We find a lot of our guests are community members themselves."

Fairfield Economic Development Manager Greg Kathman said local businesses use the extended stay hotels.

"I hear frequently from businesses where workers come in from out of town and they are working locally in the Fairfield area," Kathman said.

Last year, Fairfield City Council voted to add a 3 percent increase to its hotel tax.

"It's not a major revenue source of the city, but we used the hotel occupancy tax to help with some promotional efforts and city venues," Kathman said.

For more information, visit www.ValuePlace.com.

Contact this reporter at (513) 755-5112 or mpitman@coxohio.com.

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