Xenia Hotels & Resorts Sells Four Hotels for a Combined Sale Price of Approximately $119 Million

Xenia Hotels & Resorts, Inc. | December 19, 2016

ORLANDO, Fla., Dec. 19, 2016-- Xenia Hotels & Resorts, Inc. (NYSE: XHR) ("Xenia" or the "Company") today announced that it has sold the 162-room Homewood Suites by Hilton Houston Near the Galleria, the 148-room Hampton Inn & Suites Denver Downtown, the 178-room Hilton Garden Inn Chicago North Shore / Evanston, and the 195-room Hilton St. Louis Downtown for a combined sale price of approximately $119 million. The total price represents an 11.0x multiple on the hotels' combined 2016 projected EBITDA. In addition to the sale price, the Company retained approximately $1.5 million in capital reserve funds rela...