I’ve spent much of the past two months attending professional conferences, especially in the hotel industry. Perhaps the most rewarding presentation at any of these conferences was a speech delivered on March 7 at the Hunter Hotel Investment Conference in Atlanta, by Jack Deboer. Mr. Deboer is currently the Chairman of Value Place, LLC in Wichita, Kansas. He is well known in hospitality circles, but most people are more familiar with hotel brands he founded. Mr. Deboer is credited with having invented the “extended stay” lodging concept. Brands he founded include Residence Inn (which he sold to Marriott), Summerfield Suites (which he sold to Hyatt), and Candlewood Suites (which he sold to Intercontinental Hotel Group). Value Place is Mr. Deboer’s latest hospitality venture. Here is a link to a good article with background information on Mr. Deboer.
In addition to his many successes, Jack Deboer has been remarkable for his ability to recover from setbacks. The man has literally made fortunes, lost them and then made them again. Here is a link to a video of Mr. Deboer’s speech. I think you will enjoy it even if you are not involved in the hotel industry. He begins with some good insights on the current real estate market for hospitality investments and then talks about the new brand he is developing. But things get real interesting when he expands to remarks on broader principles. When you have a few minutes, click, watch and enjoy.