Jack DeBoer, Founder of Residence Inn, Summerfield Suites, and Candlewood Suites, Launches Fifth National Brand | Business Wire

WICHITA, Kan.–(BUSINESS WIRE)–He is back. At age 83, Jack DeBoer, the man who invented the

extended-stay industry and his team of Wichita-based hospitality

professionals are introducing a new franchise concept.

WaterWalk

is a game-changing real estate investment opportunity that combines

extended-stay hotels with apartment ownership, borrowing the best

economics and customer service features from both. In the first month of

operations at the Wichita property, all the apartments in the first

building were occupied without any form of discounting. The second

building opens November 1, 2014 and 15 units are already pre-leased or

reserved. Results have been so impressive that investors have already

claimed franchises and sites in St. Louis, Charlotte, Indianapolis,

Houston, Atlanta, and Louisville, 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,” says Jack

DeBoer, Chairman and CEO, who early in his career was the nation’s

second largest apartment builder, a fact he details in his 2011 book, “Risk

Only Money.”

“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,” continues 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.”

By the same token, the corporate lodging industry has a number of

inherent shortfalls for both operators and guests. For operators,

corporate lodging has low margin and is difficult to manage, with guests

scattered across many disparate properties. “Corporate lodging is based

on renting inventory throughout a given market, making it nearly

impossible to deliver high-quality service to guests who are not

centrally located,” says DeBoer.

WaterWalk is reinventing both the apartment and corporate lodging

industries. WaterWalk combines apartments and hotel services into a

gated, purpose-built community with a two-building, 116,000-square-foot,

$11.5 million (plus land) development opportunity that makes sense for

guests and investors alike.

Guests can choose fully-furnished one-, two-, and three-bedroom

accommodations through the 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 convenient,

no-cost parking—all at a nightly rate about 35 percent less than a

comparable one-bedroom upscale extended-stay hotel.

And, 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.

Commanding the higher revenues of an upscale extended-stay hotel and the

reduced operating expenses of an apartment building, WaterWalk offers

attractive economics, as well as the zoning flexibility, financing

leverage, and resell advantages of multi-family properties. Apartments

continue to be attractive acquisition targets for REITS and other

investors. Each WaterWalk property can be fine-tuned between

fully-furnished and unfurnished apartments, according to local market

conditions.

WaterWalk franchisees also benefit from a complete range of services

calibrated to improve the marketing and operations of the property. A

national sales program targets corporate human resource departments to

build a network of extended-stay contracts, which could account for up

to one fourth of a property’s occupancy. WaterWalk’s proprietary CRM

software also makes it easy for franchisees to solicit renters through

online apartment rental sites, streamlines the application process, and

tracks tenant from initial interest to first month’s automated clearing

house (ACH) payment.

A proprietary construction formula emphasizing energy efficiency and

smart space design helps keep operating costs to a minimum while

allowing the property to be managed 24/7 with only eight employees. The

on-site team is cross-trained to step into one another’s jobs, operating

within a company culture that focuses on concierge standards of service

and a sense of community. Because of their unique design, WaterWalk

Apartments are zoned for commercial use, allowing stays for less than 30

nights in most markets.

“The option for short stays is a fundamental difference that sets the

brand apart in both the residential and corporate apartment sectors,”

says Mark Skinner of the Highland

Group. “For example, most corporate apartments in the U.S. require a

minimum stay of 30 nights or more. So anyone on a business trip for less

than a month cannot go into a typical corporate apartment. They are

limited to either a regular or extended-stay hotel.”

For more information on franchise opportunities, visit http://ift.tt/1CuEDNh

or call (316) 219-6060.

About WaterWalk Apartments

Headquartered in Wichita, WaterWalk is the nation’s serviced apartment

brand, combining the most appealing features of an upscale extended-stay

hotel with the lifestyle of apartment living. Guests may choose to stay

a day, a week, a month, a year, or longer with an all-inclusive bill for

utilities, TV, internet, phone, and concierge services. For the

full-service Gold package, housekeeping, fully-furnished apartments, and

breakfast are also provided. WaterWalk Apartments is the fifth national

brand started by Jack DeBoer, founder of Residence Inn, Summerfield

Suites, Candlewood Suites, and Value Place. For more information, visit www.waterwalk.com

or call (316) 219-6060.

The post Jack DeBoer, Founder of Residence Inn, Summerfield Suites, and Candlewood Suites, Launches Fifth National Brand | Business Wire appeared first on Discounted Hotel Rooms.

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