Welcome to our dedicated page for Xenia Hotels & Resorts news (Ticker: XHR), a resource for investors and traders seeking the latest updates and insights on Xenia Hotels & Resorts stock.
Xenia Hotels & Resorts, Inc. (NYSE: XHR) is a self-advised and self-administered real estate investment trust (REIT) specializing in premium full-service, lifestyle, and urban upscale hotels across the United States. Focused on the top 25 lodging markets and key leisure destinations, Xenia's portfolio comprises 32 hotels and resorts with a total of 9,515 rooms in 14 states. Key hotel brands under the Xenia banner include industry giants such as Marriott, Hilton, Hyatt, Kimpton, Aston, Fairmont, and Loews.
Recent achievements highlight Xenia's operational efficiency and strategic asset management. For the third quarter of 2023, the company's Same-Property portfolio recorded a RevPAR increase of 0.4% compared to the previous year. Excluding the Hyatt Regency Scottsdale Resort & Spa at Gainey Ranch, the RevPAR grew by 4.0%. Significant renovations at properties like Grand Bohemian Hotel Orlando and Kimpton Hotel Monaco Salt Lake City have temporarily impacted results but are expected to drive higher returns in the coming years.
As of September 30, 2023, Xenia reported a total outstanding debt of approximately $1.4 billion, with a weighted-average interest rate of 5.46%. The company's liquidity stands strong with approximately $219 million in cash and cash equivalents and a full-availability revolving line of credit, amounting to about $669 million in total liquidity.
In the capital markets, Xenia has been proactive. In the third quarter of 2023, the company repurchased over 2 million shares of common stock at an average price of $12.09 per share, amounting to a total consideration of around $25 million. This was followed by additional repurchases in the fourth quarter, further solidifying shareholder value.
Looking ahead, Xenia remains focused on completing its major renovation projects, such as the transformative upgrade of the Hyatt Regency Scottsdale to a Grand Hyatt. The company is optimistic that these enhancements will yield significant future returns.
Xenia's financial discipline is evident from its updated full-year outlook for 2023, which considers potential macroeconomic uncertainties. Despite challenges, the company continues to deliver solid performance, supported by strategic asset management and rigorous expense controls.
For more detailed financial information and updates, Xenia regularly engages with its investors through quarterly earnings calls and maintains a comprehensive Investor Relations section on its website, www.xeniareit.com.
Xenia Hotels & Resorts, Inc. reported Q1 2024 results with Net Income of $8.5 million, Adjusted EBITDAre of $65.3 million, and Same-Property RevPAR at $176.86. Despite a decrease in some metrics, there was growth in key areas like Same-Property Occupancy and Same-Property Hotel Net Income. The Company repurchased shares and declared a dividend, showing financial stability.
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