XENIA HOTELS & RESORTS COMPLETES ACQUISITION OF W NASHVILLE

Rhea-AI Summary

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.

Positive

• Acquisition of W Nashville enhances portfolio with a luxury property.
• Strategically located in a key market, potentially increasing revenue growth.

Negative

• None.

ORLANDO, Fla., March 29, 2022 /PRNewswire/ -- Xenia Hotels & Resorts, Inc. (NYSE: XHR) ("Xenia" or the "Company") announced today that it has completed the previously announced acquisition of W Nashville. The newly developed 346-key luxury lifestyle hotel was acquired for $328.7 million, or $950,000 per key, with available cash.

Please refer to the Company's March 2022 Investor Presentation at www.xeniareit.com for additional information and images.

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 34 hotels and resorts comprising 9,814 rooms across 14 states. Xenia's hotels are in the luxury and upper upscale segments, and are operated and/or licensed by industry leaders such as Marriott, Hyatt, Kimpton, Fairmont, Loews, Hilton, The Kessler Collection, and Davidson. For more information on Xenia's business, refer to the Company website at www.xeniareit.com.

This press release, together with other statements and information publicly disseminated by the Company, contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with these safe harbor provisions. Forward-looking statements are not historical facts but are based on certain assumptions of management and describe the Company's future plans, strategies and expectations. Forward-looking statements are generally identifiable by use of words such as "may," "could," "expect," "intend," "plan," "seek," "anticipate," "believe," "estimate," "guidance," "predict," "potential," "continue," "likely," "will," "would," "illustrative," references to "outlook" and "guidance," and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Forward-looking statements in this press release include, among others, statements about our plans, strategies, prospects, the anticipated future financial performance of the hotel and/or Nashville market or sub-markets, the anticipated timing of other future events. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by us and our management, are inherently uncertain. As a result, our actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements, which are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that are, in some cases, beyond the Company's control and which could materially affect actual results, performances or achievements. Factors that may cause actual results to differ materially from current expectations include, but are not limited to indemnification obligations and the risk factors discussed in the Company's Annual Report on Form 10-K, as updated in its Quarterly Reports.  Accordingly, there is no assurance that the Company's expectations will be realized. We caution you not to place undue reliance on any forward-looking statements, which are made only as of the date of this press release. We do not undertake or assume any obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable law. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.

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-completes-acquisition-of-w-nashville-301512960.html

SOURCE Xenia Hotels & Resorts, Inc.

FAQ

What is the value of the acquisition of W Nashville by Xenia Hotels & Resorts?

The acquisition of W Nashville was completed for $328.7 million.

How many keys does the W Nashville hotel have?

W Nashville has 346 keys.

What is the significance of the W Nashville acquisition to Xenia Hotels & Resorts?

The acquisition enhances Xenia's portfolio with a luxury hotel in a strategic market, which may lead to increased revenue.

When was the acquisition of W Nashville completed?

The acquisition was completed on March 29, 2022.

How does the acquisition impact Xenia's position in the market?

The acquisition strengthens Xenia's presence in the luxury segment, focusing on high-demand lodging markets.