- November 13, 2021
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Scottsdale-based water bottling company The Alkaline Water Co. is looking to increase its presence in the hospitality sector and has entered a new partnership to help with that endeavor.
Alkaline, which describes itself as the largest independent alkaline water company in the country, is partnering with iDEAL Hospitality Partners Group to coordinate marketing, business development and sales in noncommercial hospitality.
The company, whose flagship product is called Alkaline88, said it is looking to become the national go-to alkaline water of choice in hotels, casinos, colleges and universities, sports arenas and other venues.
Ricky Wright, president and CEO of Alkaline, said that the partners have started reaching out with samples to the largest general purchasing organization in the country and expect to be able to make their first major announcement in the beginning of 2022.
“This brokerage arrangement with iDEAL sets up The Alkaline Water Company to continue our growing success in the hospitality channel,” Wright said in a statement. “Our Director of Hospitality, Gary Bliss, has done a great job establishing relationships to help us take advantage of opportunities in the multi-billion-dollar hospitality channel. If you look at the current landscape, there is a lot of green space for a premium alkaline water in the hospitality channel.”
Alkaline (Nasdaq and CSE: WTER) was founded in 2012 and went public in 2018. It is one of the Valley’s largest public companies, reporting 2020 revenue of $41.14 million, according to Business Journal research.
The company earlier in the week announced its second-quarter earnings, reporting revenue of $15.25 million, which was a year-over-year increase of more than 50% for the quarter ended Sept. 30. It reiterated its guidance of $62 million for fiscal 2022.
The results included a net loss of $10.378 million, with a loss per share of 11 cents.
On Friday, shares of Alkaline were up by 2.6%, or 4 cents, to close at $1.55. The price continued to inch up in early after-hours trading. Track the stock here.
Jill Rigsbee, CEO of iDEAL, said Alkaline is her company’s exclusive water partner, and described Alkaline88 as perfect for hotels.
“We are excited to have the opportunity to bring one of the country’s leading value-added water brands to hotels,” Rigsbee said in a statement. “The demand for wellness and healthy options has never been stronger in the hospitality industry and we believe that Alkaline88® is the new go-to water option, hands down.”
Alkaline earlier this year enlisted NBA legend Shaquille O’Neal as an equity partner, member of the its board of advisers and brand ambassador for Alkaline88 in a $3 million deal.
Last year Alkaline created an infused beverage division called A88 which is home to the company’s CBD and flavor-infused water. The company also sells hemp salves, balms, lotions and broad spectrum hemp capsules, gummies and other products.