Hotel Company Acquires Wyndham Garden Phoenix Midtown;
Phoenix, Ariz. (February 20, 2019) – Oxygen Hospitality Group, Inc., an owner-operator hospitality management company, today announced it has made its foray into the Phoenix hospitality marketplace with the acquisition of the Wyndham Garden Phoenix Midtown, for an undisclosed amount. Located opportunistically just north of the burgeoning Phoenix downtown area off the city’s main thoroughfare of Central Avenue and Osborn Road, the 6-story, 160-room property marks the Company’s first Arizona acquisition.
Purchased by Hotel Oxygen Midtown LLC, Oxygen Hospitality plans a multimillion-dollar property renovation that will elevate it as a full-service hotel with modern conveniences ready to greet a global tourist base visiting the fifth-largest U.S. city for business, pleasure and medical services. The property will be managed by Oxygen Hospitality.
According to Yaron Ashkenazi, chief executive officer of Oxygen Hospitality, “The Wyndham Garden Phoenix Midtown marks a pivotal point in the portfolio expansion of Oxygen Hospitality right in our corporate backyard.” He added, “With proper repositioning and creative blending of our systems, management, processes and technology, the hotel offers an incredible turnaround opportunity. We’re pleased to join in and play an ongoing role in the economic development and resurgence in this area of Phoenix.”
“Oxygen Hospitality is a significant contribution to the evolution of the medical sciences and health care center in Phoenix Midtown,” said Christine Mackay, director, Phoenix Community and Economic Development. “This Phoenix-headquartered company’s commitment to revitalize the Wyndham Garden Phoenix Midtown is a necessary addition to meet the growing demand for accommodations from visitors to the city as well as to serve the needs of one of the largest healthcare workforce clusters in the Western U.S. The hotel’s proximity to Dignity Health, the new Creighton University Medical School and the revitalized Park Central complex is a statement of confidence in the economic potential in this area of the city.”
The Wyndham Garden Phoenix Midtown features 5,000 square feet of meeting and ballroom space, a restaurant, fitness center, business center, outdoor pool, on-site beach volleyball and tennis courts and outdoor garden space for receptions and weddings.
In additional to its location by Park Central Mall, the hotel is two blocks from St. Joseph’s Hospital and Medical Center, three miles north of the Phoenix Convention Center and offers easy access to other city landmarks with light rail a few steps away.
The Company purchased its first hotel asset in 2018 in downtown Palm Springs, CA. The property, the Ivy Palm Resort, is slated for renovation this year.
Oxygen Hospitality repositions attractive, value-driven hotel assets into properties where guests are welcomed into an authentic, lifestyle-centered atmosphere filled with local immersion, incredible service and exceptional food. Furthermore, the Company is passionately focused on differentiating itself by aggressively infusing technology into real estate for elevated ease, guest experience and operational performance.
About Oxygen Hospitality Group
Oxygen Hospitality Group, Inc., is an owner-operator hospitality company that acquires, renovates and manages a portfolio of mid-to upper scale branded and independent hotel assets in the U.S. Sunbelt and other advantageous destinations. The Company works with Registered Investment Advisors (RIAs), accredited investors and family offices looking to direct invest in capital appreciation and income-producing hotel real estate projects. These assets undergo a ‘Revive and Thrive’ value creation turnaround strategy by infusing technology into real estate and driving bottom-line results and gaining positive guest experience reviews with proven return-to-profitability management. Founded in 2017, Oxygen Hospitality is privately held and is headquartered in Phoenix, Arizona. For more information, please visit: https://www.oxygenhospitality.com and follow us on Facebook, Twitter and LinkedIn.
Note to Investors
This press release is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy securities. Offers to sell or the solicitations of offers to buy securities may only be made through official offering documents that contain important information about risks, fees and expenses. Certain statements in this press release constitute “forward-looking statements” within the meaning of the federal securities laws. Words such as “may,” “might,” “will,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “continue,” “predict,” “forecast,” “project,” “plan,” “intend” or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.
Oxygen Hospitality Group, Inc.