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. (NYSE: XHR) announced it will report its first quarter 2023 financial results after market close on May 2, 2023. A conference call is scheduled for May 3, 2023, at 9:00 AM ET to discuss the results. Participants can join by calling (833) 470-1428 or (929) 526-1599 for international access, using access code 337219. A replay will be available one hour post-call, and a live webcast can be accessed on the Company’s website. Xenia operates 32 hotels with a focus on luxury and upper upscale segments.
Xenia Hotels & Resorts (NYSE: XHR) reported fourth quarter 2022 net income of $35.3 million, or $0.31 per share, with Adjusted EBITDAre at $64.6 million, a 32% increase year-over-year. Full year net income reached $55.9 million, also $0.49 per share. Same-Property RevPAR rose by 21.5% to $166.87 compared to Q4 2021, but decreased 5.1% year-over-year. The company sold three hotels, netting $133.5 million, while acquiring W Nashville for $328.7 million. Looking ahead, Xenia anticipates continued growth in 2023, projecting Adjusted FFO per diluted share between $1.36 and $1.60. The company declared a quarterly dividend of $0.10 per share for Q4 2022.
Xenia Hotels & Resorts, Inc. (NYSE: XHR) announced a cash dividend of $0.10 per share for Q1 2023, payable on April 14, 2023, to shareholders of record as of March 31, 2023. This reflects the company's ongoing commitment to return value to its shareholders. Additionally, Xenia will hold its Annual Meeting of Stockholders on May 16, 2023, with a record date of March 23, 2023, for voting eligibility. Xenia owns 32 luxury and upper upscale hotels across the U.S., showcasing its strategic position in key lodging markets.
Xenia Hotels & Resorts (NYSE: XHR) announced a new $675 million senior unsecured credit facility aimed at enhancing financial flexibility. The facility consists of a $450 million revolving credit line, a $125 million initial term loan, and a $100 million delayed draw term loan. The revolving credit facility matures in January 2027, with interest rates tied to a pricing grid that offers improved terms compared to previous arrangements. Proceeds will be used to pay off existing debts, including a $125 million loan due in September 2024 and a $100 million mortgage loan due in August 2024.
Xenia Hotels & Resorts, Inc. (NYSE: XHR) will report its financial results for Q4 and full year 2022 on March 1, 2023, before the market opens. A conference call is scheduled for 1:00 PM ET the same day, where management will discuss the results. Interested participants can dial (844) 200-6205 for U.S. calls or (929) 526-1599 for international. A live webcast will also be available on the company's website. Xenia owns 32 hotels with 9,508 rooms across 14 states, primarily in luxury and upper upscale segments.
Xenia Hotels & Resorts, Inc. (NYSE: XHR) has finalized the sale of the Kimpton Hotel Monaco Denver for $69.75 million, equating to approximately $369,000 per room. This transaction entails a 14.9x multiple on 2019 Hotel EBITDA and a 20.6x multiple on EBITDA for the twelve months ending September 30, 2022. Proceeds will be allocated for general corporate purposes, potentially including share repurchases, debt repayment, and acquisitions aligned with the company's long-term strategy.
Xenia Hotels & Resorts, Inc. (NYSE: XHR) has declared a cash dividend of $0.10 per share for Q4 2022, payable on January 13, 2023, to shareholders of record as of December 30, 2022. Additionally, the company authorized a $100 million increase in its share repurchase program, bringing the total repurchase authorization to approximately $173 million. The repurchase may occur through open market transactions or private negotiations, subject to the Board's discretion.
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