Xenia Hotels & Resorts Sells Marriott Griffin Gate Resort & Spa and Marriott Chicago at Medical District/UIC

Xenia Hotels & Resorts, Inc. | December 19, 2019

ORLANDO, Fla., Dec. 19, 2019 -- Xenia Hotels & Resorts, Inc. (NYSE: XHR) ("Xenia" or the "Company") today announced it has completed the sale of the 409-room Marriott Griffin Gate Resort & Spa in Lexington, Kentucky for $51.5 million. The sale price represents a 7.1x multiple on the resort's trailing twelve month Hotel EBITDA as of November 30, 2019. Inclusive of estimated required capital expenditures of approximately $30 million, the price reflects an 11.2x trailing twelve month Hotel EBITDA multiple. Additionally, the Company also announced that it has sold the 113-room Marriott Chicago at Medical District/UIC in Chicago, Illinois...