Xenia Hotels & Resorts Acquires Hyatt Regency Scottsdale Resort & Spa at Gainey Ranch and Royal Palms Resort & Spa for $305 Million

Xenia Hotels & Resorts, Inc. | October 5, 2017

ORLANDO, Fla., Oct. 5, 2017 -- Xenia Hotels & Resorts, Inc. (NYSE: XHR) ("Xenia" or the "Company") today announced its acquisition of Hyatt Regency Scottsdale Resort & Spa at Gainey Ranch, a 493-room upper upscale resort located in Scottsdale, Arizona, and Royal Palms Resort & Spa, a 119-room luxury resort located in Phoenix, Arizona that is part of The Unbound Collection by Hyatt. The Company acquired the two hotels from affiliates of Hyatt Hotels Corporation for a combined purchase price of $305 million, or approximately $498,350 per key. The purchase price represents an estimated 12.6x multiple on 2017...