WICHITA, Kansas—WaterWalk announces the successful sale of its WaterWalk Phoenix North Happy Valley location to Ignite Hotels LLC. This transaction marks a significant milestone as WaterWalk Holding Company’s first asset sale, highlighting the growing strength and success of the WaterWalk Extended Stay by Wyndham brand.
In February 2023, the Phoenix property debuted as the first Gen2 prototype, marking a significant milestone in the market. This 126-unit hotel has consistently delivered impressive results, offering a unique combination of furnished and unfurnished units that elevate the extended-stay travel experience with an upscale touch.
Located in the vibrant and rapidly expanding Phoenix North Happy Valley area, this property is ideally positioned to meet the needs of upscale extended-stay travelers. With its prime location near major business hubs, shopping, dining, and outdoor attractions, the area’s appeal continues to grow, making it a strategic investment for extended-stay accommodations. The extended-stay market has seen substantial growth nationwide, driven by rising demand from business travelers, relocating families, and long-term project workers seeking the comfort and flexibility of home-like environments.
As part of this exciting development, Waterwalk Hospitality will continue to manage the property under the WaterWalk Extended Stay by Wyndham brand, forming a new partnership with Ignite Hotels. This collaboration brings together the expertise of WaterWalk Hospitality and the commitment of Ignite Hotels to the brand, ensuring a seamless experience for guests and stakeholders.
Mimi Oliver, CEO of WaterWalk Hospitality, expressed her enthusiasm for this landmark achievement:
“The successful sale of WaterWalk Phoenix North Happy Valley is a proud moment for our team and a testament to the strength of the WaterWalk Extended Stay by Wyndham brand. This milestone not only showcases our ability to develop exceptional upscale extended-stay properties but also demonstrates our success as a trusted management company. We are thrilled to partner with Ignite Hotels and look forward to building a strong relationship that underscores our commitment to delivering excellence in hospitality.”
Gurbir Sandhu, president of Ignite Hotels, shared his excitement about the partnership:
“We are excited to partner with WaterWalk Hospitality as our management company and the Wyndham team. This collaboration allows us to capitalize on the tremendous potential of the extended-stay market while leveraging WaterWalk’s proven expertise in operations and guest satisfaction.”
WaterWalk Hospitality remains committed to its mission of creating innovative, high-quality extended-stay experiences that connect with guests, owners, and communities. This sale, brokered by HREC, represents an exciting chapter in the company’s growth story, paving the way for future opportunities and partnerships.