Michelin began rating hotels this month, starting with 189 properties in France. Yet many of the hotels that received coveted Michelin “keys” didn’t overlap with the list of best-rated hotels at online review sites. What gives?
02.04.2024 - 13:33 / skift.com / Sean Oneill
Wyndham Hotels & Resorts announced its 25th brand Tuesday, WaterWalk Extended Stay by Wyndham.
WaterWalk stands out from other hotel brands in that it lets owners sell a mix of rooms, with about 60% marketed as extended-stay hotel rooms and about 40% marketed as short-term rentals.
Wyndham didn’t disclose whether it had outright acquired WaterWalk, a portfolio of 11 extended-stay properties, or what other financial or licensing arrangement might be involved in the deal.
WaterWalk is a Wichita-based company that in 2014 created the hybrid hotel and apartment brand, which offers one-, two- and three-bedroom units that are either furnished or unfurnished upon rental.
WaterWalk’s early partner was Rockford Development Group, which developed eight WaterWalk franchises in San Antonio, Dallas, Austin, and Denver at a cost of roughly $150 million. In 2015, it signed a $100 million deal with UK-based private equity real estate firm, Henley, to build five WaterWalk sites in other U.S. locations. In 2021, an undisclosed global investment management took a significant stake.
For Wyndham, the deal is a strategic expansion beyond its existing extended-stay play. In 2022, it created ECHO Suites, which has 265 new-construction hotels in its development pipeline and is focused on the economy segment. Its Hawthorn brand, which saw 30% growth in its development pipeline last year, is a midscale brand.
WaterWalk is an upscale brand in the extended-stay space. It offers amenities that lower-tier brands lack, such as washers and dryers in each unit, full-sized appliances and granite countertops in every kitchen, and a fully equipped gym in each complex.
Perhaps the biggest opportunity for the brand will be converting properties that were once top-of-the-line extended-stays decades ago but now need refurbishment. However, the latest WaterWalk template can be new construction.
Guests staying 90 days or more can rent an unfurnished room. All guests, regardless of length of stay, can enjoy shared common spaces that, in its latest versions, have espresso-making machines, wall-mounted games, and an outdoor area with gas grills, fire pits, and occasionally enclosed swimming pools.
Wyndham Hotels & Resorts is the world’s largest franchisor of hotels. We run through the brands that have helped it become one of the most successful hospitality businesses.
What am I looking at? The performance of hotels and short-term rental sector stocks within the ST200. The index includes companies publicly traded across global markets, including international and regional hotel brands, hotel REITs, hotel management companies, alternative accommodations, and timeshares.
The Skift Travel 200 (ST200) combines the financial performance of nearly
Michelin began rating hotels this month, starting with 189 properties in France. Yet many of the hotels that received coveted Michelin “keys” didn’t overlap with the list of best-rated hotels at online review sites. What gives?
Hyatt Hotels definitely has its eyes on India and the focus specifically is on domestic Indian leisure travelers. “The leisure travel market is primarily driven by Indians traveling within India and discovering the country,” said CEO Mark Hoplamazian during his recent visit to the country.
Wyndham Alltra added another resort to its lineup, the Wyndham Alltra Samaná, a stunning beachfront resort in Las Galeras, the Dominican Republic.
Wyndham Hotels & Resorts said Tuesday it’s taking steps to improve how companies book and manage group bookings, meetings, events, and business travel at its North American hotels.
Marriott and IHG each announced Monday their latest expansion plans in Europe. Marriott set its sights on adding nearly 100 hotels by 2026, while IHG signed a deal to add more than 100 in Germany.
Wyndham Hotels and Resorts has announced the opening of The Earth Amritsar under the Trademark Collection by Wyndham brand – its debut in India. The 57-key heritage hotel is operated in collaboration with Earth Suites and Resorts Private Limited.
Wyndham Hotels & Resorts said on Tuesday it had created a new role, chief commercial officer, and had appointed its chief information and distribution officer, Scott Strickland, to fill it.
Celebrity Cruises is launching a new brand positioning and brand identity with the tagline “Nothing Comes Close.”
Michelin on Monday awarded 24 French hotels with “Three Keys” – its highest rating in a new hotel rating system that will be rolling out globally this year.
As 2024 unfolds, Paradores, Spain’s state-run luxury hotel network of 97 historic and cultural hotels, unveils a host of developments, from new openings and significant renovations to engaging new experiences and tours. With hotels spanning converted monasteries, Moorish fortresses, and medieval castles, as well as some exceptional modern properties, Paradores continues to help British holidaymakers explore Spain’s rich culture, celebrated gastronomy and natural beauty.
There’s magic in a good hotel bar—you never know who is coming or going or what interesting things they might be getting up to pre- or post-cocktail. Hotel bars are one of the best ways to cultivate a feeling of travel at home, or on the other hand, enjoy a nightcap before heading up to your hotel room or a refreshment before exploring your destination.
Good morning from Skift. It’s Thursday, April 4. Here’s what you need to know about the business of travel today.