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) has appointed Arlene Isaacs-Lowe to its Board of Directors and the Nominating and Corporate Governance Committee, effective March 14, 2022. This brings the Board's total members to ten, with nine being independent. Ms. Isaacs-Lowe, currently a Special Advisor at Moody's Corporation (NYSE: MCO), is expected to bring valuable insights on ESG initiatives, risk management, and commercial real estate. She will stand for election at the 2022 Annual Meeting of Shareholders.
Xenia Hotels & Resorts, Inc. (NYSE: XHR) has agreed to acquire the 346-key W Nashville for $328.7 million, equating to $950,000 per key. This transaction marks Xenia's 14th property acquisition since its NYSE listing in 2015 and aligns with its strategy of expanding its portfolio in top markets. The hotel, opened in October 2021, features various amenities, including six food and beverage venues and significant meeting space. Xenia expects the acquisition to enhance its earnings, projecting Hotel EBITDA of $25-$30 million upon stabilization. The deal is set to close by the end of Q1 2022.
Xenia Hotels & Resorts reported a net loss attributable to common stockholders of $22.9 million for the fourth quarter of 2021, translating to $0.20 per share. Adjusted EBITDAre stood at $48.9 million with a Same-Property RevPAR of $136.01, down 17.5% compared to Q4 2019. The company sold two hotels generating $41 million and plans to acquire the W Nashville for $328.7 million. Despite the challenges due to the omicron variant, improving trends were noted in February with expected RevPAR recovery.
Xenia Hotels & Resorts (NYSE: XHR) is set to release its fourth quarter and full year 2021 financial results on March 1, 2022, before market opening. A conference call will be held at 1:00 pm ET to discuss the results. Participants can join by dialing (844) 200-6205, using access code 174105. A replay will be available an hour post-call, and a live webcast can be accessed on Xenia's website.
The company specializes in luxury and upper upscale hotels, owning 34 properties across 14 states.
Xenia Hotels & Resorts, Inc. (NYSE: XHR) announced the sale of Kimpton Hotel Monaco Chicago for $36 million, marking a strategic exit from the challenging Chicago market. The sale reflects a 16.7x multiple on 2019 Hotel EBITDA, enhancing the company’s asset quality. Additionally, Xenia sold the Marriott Charleston Town Center for $5 million, further improving its portfolio. As of November 30, 2021, the company reported over $1 billion in liquidity. Despite operational challenges, including significant drops in RevPAR, Xenia's strategy aims for long-term profitability.
Xenia Hotels & Resorts reported a net loss of $22.2 million, or $0.20 per share, for Q3 2021, showing an improvement from a $52.3 million loss in Q3 2020. The company recorded Adjusted EBITDAre of $35.4 million and Adjusted FFO of $15.3 million, up from losses in the previous year. Same-Property RevPAR declined 23.1% to $123.70 compared to Q3 2019, driven by a 55.1% occupancy rate and a 30.4% increase in ADR to $224.54. Total liquidity remains strong at over $1 billion. Despite challenges from the Delta variant and seasonality, October preliminary results show better-than-expected performance.
Xenia Hotels & Resorts, Inc. (NYSE: XHR) will release its third quarter 2021 financial results on November 2, 2021, before market opening. A conference call to discuss these results will be held at 1:00 pm ET on the same day. Participants can join by dialing (844) 200-6205 or (929) 526-1599 for international callers. The call will also be accessible via live webcast on the company's website. Xenia operates 35 hotels in the luxury and upscale segments across 15 states, indicating a significant presence in key U.S. lodging markets.
Xenia Hotels & Resorts (NYSE: XHR) reported a net loss of $(42.0) million for Q2 2021, translating to $(0.36) per share. Adjusted EBITDAre was $27.4 million, with Same-Property RevPAR declining 38.7% year-over-year to $110.45. Year-to-date losses totaled $(98.4) million, or $(0.86) per share. Despite operational challenges, 32 properties generated positive Hotel EBITDA. The company noted improvements in occupancy and RevPAR as of June, with a positive outlook despite concerns over COVID-19. Overall liquidity stood at approximately $1.0 billion as of June 30, 2021.
Xenia Hotels & Resorts, Inc. (NYSE: XHR) will report its second quarter 2021 financial results on August 3, 2021, before market opening. A conference call to discuss the results is scheduled for 1:00 PM ET on the same day. Participants can dial (855) 656-0921 or (412) 542-4169 for international calls to join the discussion. A replay will be available shortly after the call, and a live webcast can be accessed via the company's website, where it will be archived for 90 days. Xenia operates 35 hotels, offering a strong presence in the luxury and upper upscale segments.
Xenia Hotels & Resorts (NYSE: XHR) reported all 35 of its hotels are operational as of June 3, 2021, with a positive occupancy increase in May 2021 to 50%. The company's average daily rate was $216, leading to a RevPAR of $108. Financially, Xenia secured $500 million in senior secured notes to enhance liquidity, totaling approximately $1 billion. Amendments to credit facilities provide increased flexibility, and the ATM program has been upsized by $200 million for further capital raising. Management remains optimistic about recovery driven by leisure demand.
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