Posted April 14, 2021
As the Oklahoma state capital, Oklahoma City has emerged as an attractive location for younger job seekers and has broadened its appeal beyond government-related activity. A number of Fortune 500 companies, including Chesapeake Energy, AT&T, Paycom, Cox Enterprises, Dell, and Boeing, already have a major presence in the area.
Although the impact of the federal and state government on the city is evident by way of the state’s capitol campus and Tinker Air Force Base, the nearby presence of top universities, like Oklahoma State and the University of Oklahoma, is beginning to translate into generations of retained residents.
Oklahoma City’s continued growth is catalyzed by Will Rogers World Airport, which was one of the nation’s fastest growing airports pre-pandemic. To keep up with booming passenger numbers and to spur continued growth, the airport has embarked on an aggressive expansion plan that will include the addition of more gates, with an eye towards adding more flights, specifically international flights, in the coming years. This expansion did not slow during the pandemic, and the airport is now well positioned to handle pent-up demand in the wake of the contagion.
The continued emergence of Oklahoma City as a corporate magnet has also drawn meaningful real estate investment. This is most visible in the development of the recently opened Omni Hotel at the Oklahoma City Convention Center. The 605-key hotel embodies the city’s rise to prominence as a regional and national destination and adds to the critical mass of hotel rooms in the downtown area, allowing the city to attract and host larger conventions and events.
For these reasons and more, Oklahoma City is among those markets quickly popping up on many investors’ radars. As a result of its meteoric growth, the city is quickly establishing itself as an attractive place for hotel investments.
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