WaterWalk Hotel Apartments will add eight franchise locations in Colorado and Texas, according to a news release.
The Jack DeBoer-owned company has a $150 million agreement in place with Rockford Development Group to open eight WaterWalk hotels in Denver, Dallas, San Antonio and Austin, according to the release.
WaterWalk plans to build properties at two locations in each of the four cities, though a company spokesperson said the number of establishments in each city could change.
David Redfern, WaterWalk’s president of real estate and franchise development, said in the release that the brand now has 27 properties in various stages of development. Last year, WaterWalk announced a $100 million deal with the United Kingdom-based investment firm Henley to build properties in the U.S.
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Construction of the first property, in San Antonio, is slated to begin in April. In 2016, WaterWalk also has plans to break ground on properties in Tulsa; Raleigh, N.C.; Louisville, Ky.; Minneapolis, Minn.; Kansas City; and Chicago.
WaterWalk properties follow a hybrid model, featuring both apartments and an extended-stay hotel. Headquartered in Wichita, WaterWalk was the fifth hotel brand created by DeBoer, according to the release. The line’s first property, in Wichita, opened in 2014.