Oxygen Hospitality Pinpoints Phoenix for Expansion

Yaron Ashkenazi

Oxygen Hospitality has expanded into the Phoenix market with the acquisition of The Wyndham Garden Phoenix Midtown. The hotel is a 6-story, 160-room property on Central Avenue and Osborn Road in Downtown Phoenix, and traded hands for an undisclosed price. Oxygen Hospitality has targeted Phoenix because of its recent economic growth, leisure and business tourism and sunny year-round weather. In addition, Phoenix is the home of Oxygen’s headquarters.

“We evaluate a hotel’s location and assess the area’s tourism, business and population growth projections,” Yaron Ashkenazi, CEO of Oxygen Hospitality, tells GlobeSt.com. “Many existing hotels, like this one we purchased, are located in excellent areas that are in the midst of being revitalized and require some time, attention and investment to elevate the property to meet expectations of today’s global traveler. We look for asset turnarounds that are underpriced/ undermanaged, mid- to upper-scale independent & branded hotels with approximately 100 to 500 room keys. Once we redevelop, reposition and instill our creative approach to hotel operations and management, these hotels can achieve profitability gains and capital appreciation.”