Main Photo: Waterwalk Richardson, Richardson, Texas
Date: May 2019
Location: Various thru the USA
Name: Oakwood Waterwalk
No. of Keys: 153 keys per property – half regular apartments Silver and half high end extended stay.
Who/What: Oakwood, a global provider of furnished housing and serviced apartments, has entered a multi-year partnership agreement with Jack DeBoer’s WaterWalk International to create a new brand: Oakwood WaterWalk. These properties will be a mix of one-, two- and three-bedroom apartments and will fit in the extended-stay, multifamily and corporate-housing segments.
With the partnership, all WaterWalk’s properties now fall under the Oakwood WaterWalk brand name. All current properties are now going through the branding transition. WaterWalk has five locations open now in Wichita, Kan.; Denver; San Antonio; Los Colinas, Texas; and Richardson, Texas. It has plans to open properties in Overland Park, Kan.; Morrisville, N.C., Charlotte, N.C.; Austin, Texas; Plano, Texas; Minneapolis; and Ashburn, Va. All locations are franchised properties.
A further 13 additional sites are in the pipeline.
Each WaterWalk property typically includes two separate, purpose-built buildings consisting of 153 units. Generally, 78 of these are multifamily unfurnished units and 75 are furnished corporate and extended-stay units.
The properties combine the space and comfort of apartment living with the services of a hotel, allowing business and individual travellers to book short- and long-term stays and choose from furnished or unfurnished suites.
“The WaterWalk product is an innovative concept built on the culmination of our extensive experience in the development of thousands of apartments and hundreds of hotels,” said DeBoer. “We are very excited about the dynamic growth that will begin immediately for the new brand as a result of our partnership with Oakwood.”
Pricing includes all utilities, high-speed internet, DirecTV cable television and phone service for nightly or monthly rates. All rooms also come with fully equipped kitchens and a full-size in-room washer and dryer. Amenities include an onsite fitness centre, breakfast delivered to each room, housekeeping and 24/7 front-desk service.
“The global brand recognition and unrivalled industry experience that Oakwood brings to WaterWalk will create an unparalleled investment opportunity while simultaneously delivering a solution to accommodate under-served market needs,” Mimi Rogers, WaterWalk’s EVP, said in a statement.
THPT Comment: Industry veteran indeed…WaterWalk’s founder and CEO Jack DeBoer is an industry veteran, having founded Residence Inn, Summerfield Suites, Candlewood Suites and Value Place/WoodSpring.
First Seen: Hotel Management
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