WICHITA, KS—WaterWalk Hotel Apartments has made a good start with its hybrid hotel-apartment model since debuting in late 2014, and the rest of this year promises a lot of action as well.
Founded by Jack DeBoer, a well-known hotelier who also started four other brands including Residence Inn, Value Place, Summerfield Suites and Candlewood Suites, the company has raised more than $350 million in franchise development capital in the past eight months. Its first property in Wichita, KS opened its doors in November 2014 and achieved a 94.2% stabilized occupancy in the last six months of 2015.
That strong performance has given company officials and other investors a lot of confidence. “We expect the same success for the sites breaking ground this year,” says David Redfern, president of WaterWalk, not least because the proposed sites have significantly more demand for housing geared toward business travelers.
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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.
