Global provider of furnished housing and serviced apartments Oakwood, wholly owned by Mapletree Investments, has entered into a strategic partnership with WaterWalk to create a new brand, Oakwood WaterWalk.
The new hospitality brand will expand Oakwood’s footprint in the United States across high-demand markets, including Denver, Dallas-Las Colinas, Dallas-Richardson, San Antonio, Wichita, Kansas City-Overland Park, Raleigh, and Charlotte, with approximately 13 additional sites in the pipeline. WaterWalk has signed enough franchise agreements to triple the portfolio.
WaterWalk was created by Jack DeBoer, who founded Residence Inn (now Marriott), Summerfield Suites (now Hyatt House), Candlewood Suites (now InterContinental Hotels Group) and Value Place/WoodSpring (now Choice Hotels International). Each property typically offers two separate buildings consisting of 153 units. Approximately 78 units are multifamily unfurnished and 75 units will be furnished corporate and extended-stay units. All rooms come with fully-equipped kitchens and a full-size in-room washer and dryer. Properties will also include a fitness center.
Photo, WaterWalk Richardson in Texas: Courtesy of WaterWalk