Wyndham Hotels & Resorts made headlines on Tuesday with the unveiling of its latest venture, WaterWalk Extended Stay by Wyndham. This marks the conglomerate's impressive 25th brand in its extensive portfolio.
WaterWalk distinguishes itself by offering a unique blend of accommodation options, with approximately 60% of its rooms tailored for extended stays and the remaining 40% dedicated to short-term rentals.
Wyndham has kept details surrounding the acquisition of WaterWalk under wraps, leaving industry analysts speculating about the financial intricacies behind the deal.
Hailing from Wichita, WaterWalk has been a pioneer in the fusion of hotel and apartment-style living since its inception in 2014. Its units range from one to three bedrooms and can be rented either furnished or unfurnished.
WaterWalk's journey has been marked by strategic partnerships and investments. Early on, it collaborated with Rockford Development Group to establish franchises across key U.S. cities, backed by substantial investments totaling millions.
In subsequent years, WaterWalk attracted the attention of global investors, including UK-based private equity firm Henley, and an undisclosed global investment management company in 2021.
For Wyndham, the acquisition of WaterWalk signifies a strategic move into the upscale extended-stay market. This complements its existing brands like ECHO Suites and Hawthorn, catering to various segments of the hospitality industry.
WaterWalk's upscale amenities, including in-unit washers and dryers, full-sized appliances, and well-equipped gyms, set it apart in the extended-stay sector.
One of the most promising aspects of WaterWalk's model is its potential to revitalize aging properties, breathing new life into former top-tier extended-stay accommodations.
Furthermore, WaterWalk's adaptable template allows for both new construction projects and the refurbishment of existing properties, presenting diverse opportunities for growth and expansion.
Guests at WaterWalk are treated to an exceptional experience, regardless of the duration of their stay. From shared common spaces featuring espresso machines and entertainment options to outdoor areas boasting gas grills and fire pits, the amenities cater to every need.
In conclusion, Wyndham's introduction of WaterWalk signifies a bold step into the hybrid hospitality market, promising a blend of luxury, comfort, and convenience for travelers worldwide. With its innovative approach and strategic partnerships, WaterWalk is poised to redefine the extended-stay experience for years to come.
Source: Skift