XENIA HOTELS & RESORTS COMPLETES DISPOSITION OF KIMPTON HOTEL MONACO DENVER

Rhea-AI Summary

Xenia Hotels & Resorts, Inc. (NYSE: XHR) has finalized the sale of the Kimpton Hotel Monaco Denver for $69.75 million, equating to approximately $369,000 per room. This transaction entails a 14.9x multiple on 2019 Hotel EBITDA and a 20.6x multiple on EBITDA for the twelve months ending September 30, 2022. Proceeds will be allocated for general corporate purposes, potentially including share repurchases, debt repayment, and acquisitions aligned with the company's long-term strategy.

Positive

• Successful sale of Kimpton Hotel Monaco Denver for $69.75 million.
• Achieved a 14.9x multiple on 2019 Hotel EBITDA.
• Proceeds can enhance shareholder value through share repurchases or debt repayment.

Negative

• None.

ORLANDO, Fla., Dec. 8, 2022 /PRNewswire/ -- December 8, 2022 – Xenia Hotels & Resorts, Inc. (NYSE: XHR) ("Xenia" or the "Company") today announced it has completed the previously announced disposition of the 189-room Kimpton Hotel Monaco Denver for $69.75 million, or approximately $369,000 per key. The sale price represented a 14.9x multiple on 2019 Hotel EBITDA and a 20.6x multiple on Hotel EBITDA for the twelve months ended September 30, 2022.

Proceeds will be utilized for general corporate purposes, which may include share repurchases, debt repayment, capital expenditures and acquisitions consistent with the Company's long-term strategy.

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 32 hotels comprising 9,508 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, The Kessler Collection, and Davidson. For more information on Xenia's business, refer to the Company website at www.xeniareit.com.

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

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SOURCE Xenia Hotels & Resorts, Inc.

FAQ

What was the sale price of Kimpton Hotel Monaco Denver by Xenia Hotels?

Xenia Hotels sold Kimpton Hotel Monaco Denver for $69.75 million.

What financial multiples were achieved from the sale of the Kimpton Hotel Monaco Denver?

The sale had a 14.9x multiple on 2019 Hotel EBITDA and a 20.6x multiple on EBITDA for the twelve months ended September 30, 2022.

How will Xenia Hotels use the proceeds from the sale?

Proceeds will be utilized for general corporate purposes, including share repurchases and debt repayment.

What is the stock symbol for Xenia Hotels & Resorts?

The stock symbol for Xenia Hotels & Resorts is XHR.