Xenia Hotels & Resorts Acquires The Ritz-Carlton Pentagon City For $105 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 The Ritz-Carlton Pentagon City, a 365-room luxury hotel located in Arlington, Virginia, for a purchase price of $105 million, or approximately $287,670 per key. The acquisition was funded with cash available on the Company's balance sheet and its senior unsecured credit facility. The purchase price represents an estimated 11.3x multiple on 2017 forecasted Hotel EBITDA. The Company currently forecasts that the hotel will generate approximately $2 millionof Hotel EBITDA for the r...