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 (XHR) reported a net loss of $1.7 million for Q3 2022, with adjusted EBITDA increasing by 52.1% year-over-year to $53.8 million. Adjusted FFO per diluted share rose to $0.31, up 138.5% compared to Q3 2021. Same-property occupancy increased 880 basis points to 64.2%, while average daily rate (ADR) rose 8.7% to $247.74. The company reinstated a quarterly dividend of $0.10 per share and is optimistic about improving demand trends. Notably, two non-strategic hotel sales were executed to enhance liquidity. The outlook for 2022 anticipates net income between $35 million and $43 million.
Xenia Hotels & Resorts, Inc. (NYSE: XHR) announced the reinstatement of its quarterly cash dividend at $0.10 per share for Q3 2022. The dividend will be paid on October 14, 2022 to shareholders on record as of September 30, 2022. Future dividends will be contingent upon Board approval. Xenia specializes in luxury and upper upscale hotels and resorts across top U.S. markets, owning 34 properties with 9,812 rooms. This move signals confidence in ongoing operations and financial stability.
Xenia Hotels & Resorts, Inc. (NYSE: XHR) will announce its third-quarter 2022 financial results on November 2, 2022, before market open. A conference call will follow at 1:00 PM ET on the same day, allowing investors to discuss the results. Participation requires dialing (844) 200-6205 with access code 949442. A live webcast will also be available on the company's website. Xenia invests in luxury and upper upscale hotels, owning 34 properties across 14 states, with renowned operators like Marriott and Hilton.
Xenia Hotels & Resorts, Inc. (NYSE: XHR) reported robust financial results for Q2 2022, posting a net income of $27.6 million ($0.24 per share), marking a 165.8% increase from Q2 2021. Adjusted EBITDAre reached $88.6 million, a 223.6% year-over-year increase. Same-Property RevPAR rose 64.4% to $186.75, while occupancy stood at 69.8%. Looking ahead, the company forecasts a full-year net income between $22 million and $50 million, with a Same-Property RevPAR change projected between 42% and 48% compared to 2021.
Equitable Holdings (NYSE: EQH) announces the appointment of Arlene Isaacs-Lowe as an independent board member, effective immediately. With over 30 years' experience in financial services, she has a proven track record in driving growth and integrating ESG strategies. Previously, she held leadership roles at Moody's and currently serves on several boards, including Compass Group PLC (OTC: CMPGY) and Xenia Hotels & Resorts (NYSE: XHR). Her expertise is expected to enhance Equitable's leadership in key areas.
Xenia Hotels & Resorts, Inc. (NYSE: XHR) will announce its second quarter 2022 financial results on August 3, 2022, prior to market opening. A conference call led by management will take place at 1:00 PM (ET) on the same day to discuss the results. Interested participants can join by dialing (844) 200-6205 or the international line at (929) 526-1599 with access code 441090. For those unable to attend live, a replay of the call will be available within an hour post-call. A live webcast can also be accessed on Xenia's website.
Xenia Hotels & Resorts (NYSE: XHR) reported a net loss of $5.3 million or $0.05 per share for Q1 2022, though Adjusted EBITDA was strong at $49.9 million. Same-property occupancy increased to 58.0%, up 2250 basis points from Q1 2021, while ADR rose 34.4% year-over-year to $258.12. The firm sold the Kimpton Hotel Monaco for $36 million and acquired the W Nashville for $328.7 million. Looking forward, occupancy is projected at 72% for April 2022, marking a significant recovery indicator. However, Same-Property RevPAR remains 19.5% below pre-pandemic levels in Q1 2019.
Xenia Hotels & Resorts, Inc. (NYSE: XHR) will release its first quarter 2022 financial results on May 3, 2022, before market opening. A conference call to discuss these results will take place at 1:00 pm (Eastern Time) on the same day. Interested participants can join by dialing (844) 200-6205 or (929) 526-1599 for international calls, using access code 394554. A replay will be available after the call, and a live webcast can be accessed through the Company's website.
Xenia operates 34 hotels in the U.S., focusing on luxury and upper upscale markets.
Xenia Hotels & Resorts, Inc. (NYSE: XHR) has successfully completed the acquisition of the W Nashville, a newly developed luxury hotel with 346 keys, for $328.7 million, or $950,000 per key. This acquisition was financed through available cash and marks a significant addition to Xenia’s portfolio of luxury and upper upscale hotels.
The company, which operates 34 hotels across the U.S., continues to expand its presence in strategically important lodging markets.
Xenia Hotels & Resorts, Inc. (NYSE: XHR) announced its 2022 Annual Meeting of Stockholders set for May 17, 2022, in Nashville, Tennessee. The record date for eligibility to vote is March 31, 2022. Xenia focuses on luxury and upper upscale hotels, owning 33 properties with 9,468 rooms across 13 states, partnered with leading brands such as Marriott and Hilton.
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