Xenia Hotels & Resorts Sells DoubleTree By Hilton Washington D.C. For $65 Million

Xenia Hotels & Resorts, Inc. | April 20, 2016

ORLANDO, Fla., April 20, 2016 -- Xenia Hotels & Resorts, Inc. (NYSE: XHR) ("Xenia" or the "Company") today announced that it has sold the 220-room DoubleTree by Hilton Washington D.C. ("Hotel" or "DoubleTree DC") for a sale price of $65 million. The price represents a 15.7x multiple on the Hotel's 2015 EBITDA and a 5.5% capitalization rate on 2015 net operating income. In addition to the purchase price, the Company retained the approximately $3.1 million balance in the hotel's capital expenditure reserve account. "We are pleased to have completed the sale of the DoubleTree DC, con...