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 announced the appointment of Terrence Moorehead to its Board of Directors, effective May 25, 2021. This increases the Board to nine members, with eight being independent. Moorehead, CEO of Nature's Sunshine Products, brings expertise in high-end consumer products and health and wellness, relevant to Xenia's upscale lodging focus. His diverse experience includes executive roles at Avon and other companies. Moorehead expressed enthusiasm about joining Xenia and aims to enhance shareholder value through collaboration with the management team.
Xenia Hotels & Resorts announced the successful pricing of $500 million in senior secured notes due 2029, upsized from an earlier $400 million. These notes feature a fixed interest rate of 4.875% and will close on May 27, 2021. Proceeds will be used to repay existing debt and for general corporate purposes. Concurrently, the company received consents for amendments to credit facilities to facilitate the new notes, including waiving certain acquisition limitations. The notes will only be offered to qualified institutional buyers and are not registered under the Securities Act.
Xenia Hotels & Resorts, Inc. (NYSE: XHR) announced its intent to offer $400 million in senior secured notes due 2029. These notes will be guaranteed by the Company and certain subsidiaries. The proceeds will be used to repay existing borrowings and for general corporate purposes. The offering is restricted to qualified institutional buyers and non-U.S. persons outside the United States. Xenia operates 35 hotels across the U.S., focusing on luxury and upper upscale markets.
Xenia Hotels & Resorts (NYSE: XHR) reported a net loss of $(56.4) million or $(0.50) per share for Q1 2021, representing a 55.9% increase in losses from the same quarter in 2020. Adjusted EBITDAre stood at $(3.6) million, while Adjusted FFO per diluted share was $(0.18). Despite the losses, March showed improvements with a 45.4% occupancy rate and a RevPAR of $91.69. The company anticipates continued growth in leisure demand and is optimistic about a gradual recovery in business travel as vaccination rates increase. Xenia has $715 million in total liquidity as of March 31, 2021.
Xenia Hotels & Resorts, Inc. (NYSE: XHR) will report financial results for Q1 2021 on May 6, 2021, before market opens. A conference call will follow at 1:00 pm ET to discuss the results. Participants can join by dialing (855) 656-0921 or (412) 542-4169 from international locations. A live webcast will also be accessible on the Company's website. Xenia operates 35 hotels with 10,011 rooms across the U.S., focusing on luxury and upscale accommodations managed by top industry brands.
Xenia Hotels & Resorts (NYSE: XHR) reported its Q4 and full-year 2020 results, facing significant challenges from COVID-19. Q4 net income was $24.3 million, or $0.22 per share, while the full year net loss was $163.3 million, or $1.44 per share. The company sold four hotels for approximately $391 million to improve its portfolio quality and liquidity, which stood at $750 million at year-end. Same-Property RevPAR for Q4 was $50.82, down 68.5% year-over-year, but showed a 20% sequential increase. Adjusted EBITDAre for Q4 was $(10.1) million, indicating ongoing operational struggles.
Xenia Hotels & Resorts, Inc. (NYSE: XHR) has scheduled its 2021 Annual Meeting of Stockholders for May 18, 2021, in Orlando, Florida. The record date to determine stockholders eligible to vote is set for March 31, 2021. Xenia is a self-advised REIT focused on luxury and upper upscale hotels, owning 35 properties with over 10,000 rooms across 15 states. Their hotels are operated by leading brands such as Marriott and Hilton. For more details, visit www.xeniareit.com.
Xenia Hotels & Resorts, Inc. (NYSE: XHR) will announce its fourth quarter and full year 2020 financial results on March 1, 2021, before market opening. Management will host a conference call at 1:00 pm (ET) to discuss these results. Interested participants can dial in using (855) 656-0921 (or (412) 542-4169 internationally). A replay of the call will be available one hour after it concludes. Xenia operates 35 hotels with over 10,011 rooms across the U.S., particularly in major lodging markets.
Xenia Hotels & Resorts, Inc. (NYSE: XHR) completed the sale of the 245-room Hotel Commonwealth in Boston for $113.0 million and the 492-room Renaissance Austin Hotel for $70.0 million. The sales yielded approximately $461,000 and $142,000 per key, respectively. Year-to-date, Xenia has sold four hotels totaling nearly $400 million, providing significant capital and enhancing balance sheet flexibility. The Hotel Commonwealth sale achieved an 11.8x multiple on 2019 Hotel EBITDA, while the Renaissance Austin sale had a 6.8x multiple. Proceeds will be used for debt repayment and corporate purposes.
Xenia Hotels & Resorts (NYSE: XHR) reported its Q3 2020 results, revealing that 36 of 37 hotels were operational, with a liquidity of approximately $600 million. Despite a net loss of $52.3 million ($0.46 per share) for the quarter, the company's adjusted EBITDAre was $(21.1) million. Significant hotel sales included Residence Inn Boston Cambridge for $107.5 million and Marriott Napa Valley for $100.1 million. Financial covenants were relaxed until Q1 2023, and the company has no debt maturities until 2023, positioning it for gradual recovery amidst ongoing COVID-19 challenges.
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