WICHITA, KS—Jack DeBoer, considered the father of extended-stay, is introducing a new franchise effort. The concept, WaterWalk, combines extended-stay hotels with apartment ownership, borrowing the key economics and customer-service features from both.
One property has opened here with a second set for operation Nov. 1.
According to the company, investors have interest in franchises and sites in St. Louis, MO; Charlotte, NC; Indianapolis, IN; Houston, TX; Atlanta, GA; and Louisville, KY, among other cities.
“At its heart, we have reverse-engineered both the extended-stay hotel and apartment industries, taking the best from each, while eliminating their respective limitations, inflexibilities and inconveniences,” stated DeBoer, chairman/CEO.
“Apartments are still being built and managed the same way they were more than 50 years ago, without any recognition of today’s mobile workforce and changing consumer lifestyles,” continued DeBoer. “Tenants are typically forced to sign one-year leases. At the same time, prospective tenants have to make appointments to tour a rental during limited hours, put down hefty security deposits and are even charged a fee simply to apply. Then, they have to make their own arrangements for cable, Internet and every utility and pay for them separately. None of that is consumer friendly, so we did away with it all.”
WaterWalk combines apartments and hotel services into a gated, purpose-built community with a two-building, 116,000-sq.-ft., $11.5-million (plus land) development.
Guests can choose fully furnished one-, two- and three-bedroom accommodations through a “Gold Package” that offers hotel-like amenities and services. Gold Package tenants enjoy gym membership, 24/7 shuttle and concierge services, free in-room breakfast, housekeeping, DirecTV with premium channels, Internet, on-site storage and parking—all at a nightly rate about 35% less than a comparable one-bedroom, upscale extended-stay hotel, according to the company.
The same property also offers a Silver Package of one-, two- and three-bedroom unfurnished apartments to residents based on leases as short as six months. Silver Package tenants do not face security deposits or application fees, and the all-inclusive rent includes the cost of utilities, Internet, telephone, trash removal, all kitchen appliances, a 186-channel premium DirectTV package, and in-apartment washers and dryers.
WaterWalk also is zoned for commercial use, allowing stays for less than 30 nights in most markets.