Oxygen Hospitality Group appoints CEO, buys first asset

Oxygen Hospitality Group has named Yaron Ashkenazi as its CEO.

Ashkenazi joins from GCH Hotel Group in Berlin, where he most recently served as CEO.

Oxygen Hospitality, which will focus on instilling a values-based European ethos for global business and leisure guest appeal, is headquartered in Phoenix.  The company will acquire, renovate and manage a portfolio of branded and independent hotel assets in the Sun Belt and other advantageous U.S. destinations. It’s aiming to build a portfolio of 1,000 rooms by the end of next year and plans to invest $250 million in properties annually starting next year.

Ashkenazi’s vision for Oxygen Hospitality is centered on repositioning attractive, value-driven assets into properties where guests are welcomed into an authentic, lifestyle-centered atmosphere filled with local immersion, service and food.

In separate news, Oxygen Hospitality Group bought The Ivy Palm Resort & Spa, a four-building independent, boutique hotel in Palm Springs, Calif., marking the company’s first acquisition. Built in 1982, the property spreads across a three-acre site.