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.
An Innovative Approach to Extended Stay
WaterWalk was founded by the late
Positioned squarely in the upscale segment, WaterWalk brings a fresh take to the traditional extended stay experience with its unique 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 truly feels like home. The flexibility of the model is one of the brand's strategic assets as units can transform and adapt in real-time to market and customer needs-benefitting owners, operators and guests alike.
WaterWalk's current portfolio consists of 11 hotels throughout the
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.
A Portfolio Poised for Growth
WaterWalk marks Wyndham's third extended stay brand, joining ECHO SuitesSM 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% growth in its midscale conversion and new construction development pipeline.
Collectively, the three brands give the Company a robust and growing 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. What's more, with the addition of WaterWalk, the portfolio of brands further reinforces owners' ability to capitalize on the historical infrastructure spend in the
In joining the Wyndham family of brands, WaterWalk hotels unlock access to the Wyndham Advantage - world-class marketing, distribution and resources from the world's largest hotel franchisor. Over the last five years, Wyndham has invested more than
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