[1] The chain traces its roots back to in 1975, when Wichita, Kansas developer Jack DeBoer found himself with apartment properties that were facing unusually high vacancy rates.

He repurposed one of the apartment buildings, converting the residential units to monthly rentals, and named it The Residence.

Their guests were mostly business travelers on lengthy work assignments, patients of nearby hospitals, and those in need of temporary housing.

In early 1987, DeBoer bought back Holiday's interest in the chain, before selling the entire company to Marriott International on July 7, 1987.

[5] Although DeBoer died in 2021, the original Wichita property is still operated by his company, under the WaterWalk brand.