WICHITA, Kansas—WaterWalk announced the 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.
In February 2023, the Phoenix property debuted as the first Gen2 prototype. This 126-unit hotel offers a unique combination of furnished and unfurnished units that give an upscale touch to the extended-stay travel experience.
Located in the Phoenix North Happy Valley area, this property is positioned to meet the needs of upscale extended-stay travelers, and it is 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 development, Waterwalk Hospitality will continue to manage the property under the WaterWalk Extended Stay by Wyndham brand, forming a new partnership with Ignite Hotels.
Mimi Oliver, CEO of WaterWalk Hospitality, expressed her enthusiasm for the sale:
“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, also 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 high-quality extended-stay experiences that connect with guests, owners, and communities. This sale, brokered by HREC, represents a new chapter in the company’s growth story, paving the way for future opportunities and partnerships.
