Wyndham Hotels & Resorts has partnered to bring extended-stay brand WaterWalk's 11 properties into its portfolio, the company announced Tuesday. Under the deal, WaterWalk becomes Wyndham's 25th brand and its third extended-stay brand, as well as its first upscale extended-stay brand.
The deal isn't an acquisition, and WaterWalk retains ownership of the brand, a Wyndham spokesperson told BTN. Still, WaterWalk will be "fully integrated" into the Wyndham portfolio, "same as any other Wyndham brand," according to the spokesperson. WaterWalk will participate in Wyndham's loyalty program and access Wyndham's property and revenue management systems.
Financial terms of the partnership weren't disclosed, nor would Wyndham clarify whether the arrangement was for a fixed period.
"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," Wyndham chief development officer Chip Ohlsson said in a statement. "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."
Founded in 2014 by the late hospitality and extended-stay veteran Jack DeBoer, Wyndham said WaterWalk has 11 properties totaling more than 1,500 rooms. The brand's calling card is each property's split between traditionally furnished extended-stay guest rooms and unfurnished rooms, designed to allow long-term guests to decorate to their taste. DeBoer, who launched such brands as Residence Inn and Candlewood Suites, died in 2021. His granddaughter, Mimi Oliver, is CEO of WaterWalk.
Wyndham wouldn't disclose whether any additional WaterWalk properties are in the development pipeline, but the spokesperson said, "we see long-term opportunity for the brand across both primary and secondary markets, with both new construction and conversion being viable options for growth."
Wyndham is "responsible for the brand's long-term growth, taking point on identifying and selling new franchise opportunities," according to the spokesperson.
WaterWalk's website lists 12 open properties in Atlanta; Boise, Idaho; Charlotte, N.C.; Huntsville, Ala.; Jacksonville, Fla.; Kansas City, Kan.; Minneapolis; Phoenix; Raleigh, N.C.; San Antonio; Tucson, Ariz.; and Wichita, Kan.; the reason for the discrepancy with the 11 Wyndham said was joining its portfolio wasn't immediately clear.
WaterWalk joins a Wyndham extended-stay portfolio that includes 72-property midscale brand Hawthorn Suites and Echo, the economy brand Wyndham announced in 2022. Wyndham on Tuesday said about 265 Echo properties were in the development pipeline with six nearing completion. Wyndham CEO Geoff Ballotti in February said the company planned for 75 to be open by 2026.
WaterWalk in 2019 struck a deal with the serviced-apartment provider then known as Oakwood Worldwide to form an extended-stay brand, but Oakwood soon after shifted its business focus to hospitality management before being acquired by The Ascott Limited in 2022.