WICHITA, KS— Extended-stay hotels have become more popular with travelers throughout the country in the past few years, but as reported in GlobeSt.com, officials connected to Value Place, the largest brand in the industry, recently started another chain called WaterWalk Hotel Apartments, and are developing a new business model that provides traditional hotel services to apartment dwellers.
The new company opened its first site last year in its hometown of Wichita, and so far things are looking good. Rates neared full occupancy for the months of May and June, company officials say. Without discounting room rates, June's occupancy was 98% with an average rate equal to upscale extended-stay hotels.
“With numbers reaching full occupancy in just seven months from our official grand opening event in November, it's evident that our hybrid hotel and apartment business model is a proven concept and an unmatched opportunity for franchisees and investors,” says David Redfern, president of WaterWalk Hotel Apartments. “I'm confident that our occupancy in Wichita will continue strong due to execution of our sales and marketing plan and national awareness that will only continue to propel our brand forward in the coming months.”
The new venture was founded by Jack DeBoer, its chairman and chief executive officer, who has already founded several well-known hospitality brands, including Residence Inn, Summerfield Suites, Candlewood Hotel Group, and Value Place. Redfern has worked with DeBoer at each of these ventures.
Companies using WaterWalk for corporate housing can have 24/7 concierge service with onsite staff, washer and dryer in suite, housekeeping, flexibility in lengths of stay, competitive pricing, a secure and gated community, free customized breakfast items delivered to each suite, grocery shopping service, free bike rentals, and a complimentary 24/7 shuttle service.
The company plans to start seven new sites this year including a San Antonio location in July and others in Florida, Charlotte, Albany, NY, Kansas City, among other cities. In the spring, WaterWalk held its inaugural franchise conference in Wichita with more than a dozen different groups that included developers and operators of hotels, apartments and mixed-use projects. It has a total of 34 new properties in different stages of development.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
