xenia hotels & resorts
Xenia Hotels & Resorts Completes Disposition of Lorien Hotel & Spa
Xenia Hotels & Resorts | July 10, 2024
ORLANDO, Fla., July 10, 2024-- Xenia Hotels & Resorts, Inc. (NYSE: XHR) ("Xenia" or the "Company") today announced it has completed the disposition of the 107-room Lorien Hotel & Spa in Alexandria, VA, for $30 million, or approximately $280,000 per key. The sale price represents a 21.3x multiple and a 3.1% capitalization rate on Hotel EBITDA and Net Operating Income for the trailing twelve months ended May 31, 2024, respectively. Proceeds will be utilized for general corporate purposes, which may include share repurchases, debt repayment, capital expenditures and acquisitions consistent with the Company's long-term strategy....
Twelfth Avenue Realty Holdings Completes Sale of W Nashville to Xenia Hotels & Resorts for $328.7M
Xenia Hotels & Resorts, Inc. | March 30, 2022
NASHVILLE, TN – March 30, 2022 – Twelfth Avenue Realty Holdings, LLC (Twelfth Avenue Realty), today announced it has completed the sale of W Nashville to Xenia Hotels & Resorts, Inc. (NYSE: XHR) (Xenia) for a sales price of $328.7 million or $950,000 per key. Designed by The Rockwell Group and built by Yates Construction, the luxury lifestyle property opened in October 2021 in the vibrant Gulch neighborhood of Nashville. The concept, programming and design direction of W Nashville was led by hospitality veterans David Tessier and Anna Gomez of Hospitality Gaming Advisors along with local partners Mark Bloom and Larry Papel ofÂ...
Xenia Hotels & Resorts to Acquire W Nashville for $328.7M
Xenia Hotels & Resorts, Inc. | March 1, 2022
ORLANDO, FL - March 1, 2022 - Xenia Hotels & Resorts, Inc. (NYSE: XHR) ("Xenia" or the "Company") today announced it has agreed to acquire the 346-key W Nashville for a purchase price of $328.7 million or $950,000 per key. "We are thrilled to have reached an agreement to acquire W Nashville, an outstanding newly constructed luxury lifestyle hotel located in the desirable Gulch neighborhood in the heart of Nashville," commented Marcel Verbaas, Xenia's Chairman and Chief Executive Officer. "The addition of W Nashville will mark the 14th property acquired since our listing on the NYSE in 2015 and aligns perfectly wi...
Xenia Hotels & Resorts Sells Residence Inn Boston Cambridge for $107.5 Million
Xenia Hotels & Resorts, Inc. | October 5, 2020
ORLANDO, Fla., Oct. 5, 2020 -- Xenia Hotels & Resorts, Inc. (NYSE: XHR) ("Xenia" or the "Company") today announced it has sold the 221-room Residence Inn Boston Cambridge in Cambridge, Massachusetts for a price of $107.5 million, or approximately $486,500 per key. The sale price represents a 11.6x multiple and a 7.8% capitalization rate on the hotel's 2019 Hotel EBITDA and net operating income, respectively. In connection with the transaction, the buyer assumed the $60.3 million mortgage collateralized by the hotel. The transaction generated approximately $46.0 million in net proceeds for the Company after transaction costs. P...
Xenia Hotels & Resorts Reports Second Quarter 2020 Results
Xenia Hotels & Resorts, Inc. | July 31, 2020
ORLANDO, Fla., July 31, 2020 -- Xenia Hotels & Resorts, Inc. (NYSE: XHR) ("Xenia" or the "Company") today announced results for the quarter ended June 30, 2020. Second Quarter and Year to Date 2020 Highlights Hotel Status: The Company had 8 hotels open and operating for the entire month of April. Having temporarily suspended operations at 31 hotels between late March and early April, the Company recommenced operations at 5 hotels in May and 13 hotels in June. Therefore, at the end of the second quarter, 26 hotels were open and operating. By July 31, 2020, the Company will have recommenced operations at 9 additional hotel...
Xenia Hotels & Resorts Announces Departure of Chief Investment Officer
Xenia Hotels & Resorts, Inc. | April 22, 2020
ORLANDO, Fla., April 22, 2020 - Xenia Hotels & Resorts, Inc. (NYSE: XHR) ("Xenia" or the "Company") today announced that, due to the severe downturn in lodging demand resulting from the COVID-19 pandemic, the Company has further streamlined its operations and reduced its ongoing corporate expenses by eliminating the role of Chief Investment Officer.  As a result, Philip A. Wade, who served as the Company's Senior Vice President and Chief Investment Officer, has left the Company. With this change, the Company's corporate office headcount has been reduced by over 20% since the Company's operations have been impacted by the COVID-19 pan...
Xenia Hotels & Resorts Provides Update on Transactions and Operations
Xenia Hotels & Resorts, Inc. | April 1, 2020
ORLANDO, Fla., April 1, 2020 -- Xenia Hotels & Resorts, Inc. (NYSE: XHR) ("Xenia" or the "Company") today provided an update on pending transactions, as well as an update on the impact of COVID-19 on its operations. On February 24, 2020, Xenia announced that it had entered into an agreement to sell the 492-room Renaissance Austin Hotel for $100.5 million, with an anticipated closing date during the first quarter of 2020. Subsequent to the announcement, the parties entered into an amendment to the agreement that extended the closing until April 16, 2020 and authorized the release of the $2 million deposit held in escrow to the Compan...
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...
