Xenia Hotels & Resorts Sells Aston Waikiki Beach Hotel for $200 Million ($310K per Key)

Xenia Hotels & Resorts, Inc. | March 14, 2018

ORLANDO, Fla., March 14, 2018 -- Xenia Hotels & Resorts, Inc. (NYSE: XHR) ("Xenia" or the "Company") today announced that it has completed the previously announced sale of the leasehold interest in the 693-room Aston Waikiki Beach Hotel ("Hotel" or "Aston Waikiki") in Oahu, HI for a sale price of $200 million, or approximately $310,000 per key. The price represented a 12.6x multiple on the Hotel's 2017 EBITDA. "We are pleased to have completed the sale of the Aston Waikiki at an attractive price," commented Marcel Verbaas, Xenia's Chairman and Chief Executive Officer. "A...