In Brief: Paxmi and Madhav, based in Portland, Oregon, purchased the 72-key Baymont by Wyndham Odessa from Odessa Hospitality, LLC.
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Baymont By Wyndham Odessa – Image Credit Wyndham
HVS Brokerage & Advisory announced the sale of the 72-key Baymont by Wyndham Odessa at 4101 Parks Legado Road in Odessa, Texas. Paxmi and Madhav acquired the hotel from Odessa Hospitality, LLC. The property was built in 2014.
HVS Brokerage & Advisory advised Odessa Hospitality on the disposition. Andrew Frosch, Matthew Omansky, Kyle Peterek and Daneen Godinet of HVS Brokerage & Advisory participated in the transaction.
The marketing process drew interest from investors nationwide and resulted in a sale to a West Coast-based ownership group seeking to expand into hospitality and establish a presence in Texas. The buyers were new to Texas hotel ownership but had existing market connections and long-term investment objectives. HVS identified the buyer through its investor network and guided the transaction through closing.
The hotel is located in the Permian Basin, one of the nation’s active energy-producing regions. The property attracted investors seeking exposure to a market supported by business and regional travel demand.
HVS Brokerage & Advisory team members Andrew Frosch, Matthew Omansky, Kyle Peterek, and Daneen Godinet participated in this transaction.