Wyndham Enters Upscale Extended-Stay Segment with WaterWalk
Newtown, PA
Wyndham Enters Upscale Extended-Stay Segment with WaterWalk
Newtown, PA
Lodging Magazine:
Wyndham Hotels & Resorts is expanding into the upscale extended-stay segment, launching a strategic relationship with WaterWalk. The deal adds 11 hotels and over 1,500 rooms to the Wyndham ecosystem, rebranding them under the newly created WaterWalk Extended Stay by Wyndham brand, the 25th in Wyndham’s portfolio. Located in markets such as Tucson, Jacksonville, and Wichita, the offerings compliment Wyndham’s existing economy and midscale extended-stay brands,
“In the last year, guest demand for the extended stay segment reached record highs, which has been underscored by demand from owners and developers looking for new opportunities to partner with Wyndham. Our vision is to offer the industry’s most robust portfolio of extended stay brands and the addition of WaterWalk marks an important step in that direction—helping ensure we have an offering in every segment, for every owner, and for every guest,” said Chip Ohlsson, chief development officer, Wyndham Hotels & Resorts.
WaterWalk was founded by the late Jack DeBoer, who not only pioneered the segment but created some of its well-known brands, including among others, Residence Inn and Candlewood Suites. He created WaterWalk in 2014, leveraging the learnings of his past successes while also reimagining what an extended-stay hotel could be. Today, his granddaughter Mimi Oliver serves as CEO.
Positioned in the upscale segment, WaterWalk brings a new take to the traditional extended-stay experience with its LIVE|STAY model. STAY units are fully furnished and cater to guests looking for a traditional extended-stay, residential-like experience, while LIVE units are unfurnished and allow guests to create a long-term space that feels like home.
The flexibility of the model is one of the brand’s assets as units can transform and adapt in real-time to market and customer needs.
WaterWalk’s current portfolio consists of 11 hotels throughout the United States. Newer hotels leverage the brand’s Gen 2.0 prototype, which combines efficient design and low operating costs.
“WaterWalk’s success is the culmination of decades of experience in extended stay combined with a relentless pursuit for driving innovation and delivering exceptional guest experiences. We believe WaterWalk is our best brand yet and our decision to bring it into the Wyndham portfolio is a pivotal moment in its evolution, one we believe will lead to enhanced efficiencies, performance, and growth—all thanks to the Wyndham Advantage,” said Mimi Oliver, CEO, WaterWalk.
WaterWalk marks Wyndham’s third extended stay brand, joining ECHO Suites Extended Stay by Wyndham and Hawthorn Extended Stay by Wyndham. ECHO Suites launched in 2022 and has over 265 economy new construction hotels in its development pipeline, half a dozen of which are nearing completion. Hawthorn in 2023 saw 30 percent growth in its midscale conversion and new construction development pipeline.
Collectively, the three brands give the company a portfolio of offerings designed for the needs of today’s extended stay guests—be that construction workers hitting the road for weeks at a time or digital nomads looking to mix business and leisure travel. With the addition of WaterWalk, the portfolio of brands further reinforces owners’ ability to capitalize on the historical infrastructure spend in the United STates, what’s believed to be about a $3.3 billion opportunity in additional room revenue.
About Sandpiper
Based in Richmond, Va., Sandpiper, LLC is a nationally-focused real-estate investment organization recognized as one of the leading companies specializing in extended stay lodging properties. The company continues to develop its portfolio through ground-up development and selective acquisition of performing and non-performing properties. Sandpiper owns a total of 39 hotels under the Candlewood Suites (IHG), Courtyard (Marriott), ECHO Suites (Wyndham), Premier Suites (Extended Stay America), Residence Inn (Marriott), RiseWell Kitchen Suites (Sandpiper), Suburban Studios (Choice), and WoodSpring Suites (Choice) brands.
Sandpiper Hospitality ("SH"), an affiliated hotel management company, manages the entire Sandpiper portfolio and manages 30+ more hotels for unaffiliated third parties. SH has earned its position as the leading operator in the extended stay hotel segment of hospitality by combining the spirit of genuine, welcoming hospitality with superior financial returns, fueling the growth and prosperity of its various stakeholders – from associates to guests to owners and investors. For more information, visit www.sandpiperhospitality.com.
