the ritz carlton denver
Xenia Hotels & Resorts Acquires The Ritz-Carlton, Denver for Approximately $100 Million
Xenia Hotels & Resorts, Inc. | August 27, 2018
ORLANDO, Fla., Aug. 27, 2018 -- Xenia Hotels & Resorts, Inc. (NYSE: XHR) ("Xenia" or the "Company") today announced its acquisition of The Ritz-Carlton, Denver, a 202-room luxury hotel located in Denver, Colorado for a purchase price of $100.25 million, or approximately $496,000 per key. The acquisition was funded with cash available on the Company's balance sheet. The purchase price represents an estimated 14.6x multiple on 2018 forecasted Hotel EBITDA. Xenia currently forecasts that the hotel will generate approximately $2.5 million of Hotel EBITDA during the remainder of 2018. "We are excited to have ...