Xenia Hotels & Resorts Declares Dividend For Third Quarter 2024

Rhea-AI Summary

Xenia Hotels & Resorts, Inc. (NYSE: XHR) has announced a cash dividend of $0.12 per share for the third quarter of 2024. The dividend will be paid on October 15, 2024 to shareholders of record as of September 30, 2024. Xenia is a self-advised and self-administered REIT focusing on luxury and upper upscale hotels in top U.S. lodging markets and key leisure destinations. The company owns 31 hotels with 9,408 rooms across 14 states, operated by industry leaders such as Marriott, Hyatt, and Hilton.

Positive

• Consistent dividend payment indicating financial stability
• Diverse portfolio of 31 hotels across 14 states
• Focus on luxury and upper upscale segments in top markets

Negative

• None.

Insights

Financial Analyst

Xenia Hotels & Resorts' dividend declaration of $0.12 per share for Q3 2024 maintains consistency with previous quarters, signaling stability in their cash flow and commitment to shareholder returns. As a REIT, Xenia is required to distribute at least 90% of taxable income to shareholders, making this dividend expected but important for investor confidence.

The company's focus on luxury and upper upscale segments in top U.S. markets positions it well in the high-end hospitality sector. With 31 hotels across 14 states, Xenia's portfolio diversity helps mitigate regional risks. Partnerships with major brands like Marriott and Hyatt provide strong operational support and customer loyalty programs, potentially boosting occupancy rates and revenue.

However, investors should note that the luxury segment can be more susceptible to economic downturns. The static dividend amount might indicate caution about future cash flows or a conservative approach to capital allocation in the current economic climate.

Real Estate Investment Trust (REIT) Specialist

Xenia's dividend announcement, while routine, underscores its status as a reliable income-generating REIT in the hospitality sector. The $0.12 per share quarterly dividend translates to an annual yield of approximately 4-5% based on recent stock prices, which is competitive within the REIT space.

The company's portfolio of 9,408 rooms in prime locations suggests a strong asset base. However, the static dividend rate may indicate growth in funds from operations (FFO), a key metric for REITs. Investors should monitor Xenia's occupancy rates, average daily rates (ADR) and revenue per available room (RevPAR) in upcoming earnings reports to gauge the potential for future dividend growth.

Xenia's focus on luxury and upper upscale segments could be a double-edged sword. While these segments often command higher margins, they're also more vulnerable to discretionary spending cuts during economic uncertainties. The company's alignment with major hotel brands provides a competitive edge but also exposes it to brand-specific risks and potential franchise fee increases.

ORLANDO, Fla., Sept. 16, 2024 /PRNewswire/ -- Xenia Hotels & Resorts, Inc. (NYSE: XHR) ("Xenia" or the "Company") today announced that its Board of Directors authorized a cash dividend of $0.12 per share of the Company's common stock for the third quarter 2024. The dividend will be paid on October 15, 2024 to all holders of record of the Company's common stock as of the close of business on September 30, 2024.

About Xenia Hotels & Resorts, Inc.
Xenia Hotels & Resorts, Inc. is a self-advised and self-administered REIT that invests in uniquely positioned luxury and upper upscale hotels and resorts with a focus on the top 25 lodging markets as well as key leisure destinations in the United States. The Company owns 31 hotels comprising 9,408 rooms across 14 states. Xenia's hotels are in the luxury and upper upscale segments and operated and/or licensed by industry leaders such as Marriott, Hyatt, Kimpton, Fairmont, Loews, Hilton, and The Kessler Collection. For more information on Xenia's business, refer to the Company website at www.xeniareit.com.

Contact:
Atish Shah, Executive Vice President and Chief Financial Officer, Xenia Hotels & Resorts, (407) 246-8100

For additional information or to receive press releases via email, please visit our website at www.xeniareit.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/xenia-hotels--resorts-declares-dividend-for-third-quarter-2024-302249058.html

SOURCE Xenia Hotels & Resorts, Inc.

FAQ

What is the dividend amount for Xenia Hotels & Resorts (XHR) for Q3 2024?

Xenia Hotels & Resorts (XHR) has declared a cash dividend of $0.12 per share for the third quarter of 2024.

When will XHR pay its Q3 2024 dividend?

The dividend will be paid on October 15, 2024 to shareholders of record as of the close of business on September 30, 2024.

How many hotels does Xenia Hotels & Resorts (XHR) own?

Xenia Hotels & Resorts owns 31 hotels comprising 9,408 rooms across 14 states in the United States.

What type of properties does XHR focus on?

XHR focuses on uniquely positioned luxury and upper upscale hotels and resorts in the top 25 lodging markets and key leisure destinations in the United States.