Xenia Hotels & Resorts, Inc. reports news as a self-advised and self-administered REIT focused on luxury and upper upscale hotels and resorts in major U.S. lodging markets and key leisure destinations. Company updates commonly cover quarterly operating results, same-property RevPAR, occupancy, ADR, Total RevPAR, hotel EBITDA, non-rooms revenue, group demand, and the performance of renovated or repositioned properties.
Recurring announcements also address portfolio improvements, mortgage debt activity, unencumbered properties, dividends, share repurchases, ATM program availability, annual meeting matters, and relationships with operators and brands including Marriott, Hyatt, Kimpton, Fairmont, Loews, Hilton, and The Kessler Collection.
Xenia Hotels & Resorts, Inc. (NYSE: XHR) will release its third-quarter 2020 financial results on October 30, 2020, before the market opens. A conference call is scheduled for 1:00 PM ET that same day, where management will discuss the results. Investors can participate by dialing (855) 656-0921 and accessing the live webcast via the company's website. The company operates 39 hotels with a focus on luxury and upper-upscale segments, primarily in top U.S. lodging markets.
Xenia Hotels & Resorts, Inc. (NYSE: XHR) has updated its credit facilities and hotel operations as of August 27, 2020. The company amended its corporate credit agreements following a $300 million senior secured notes offering. Key amendments allow for hotel acquisitions via equity. As of the latest update, 35 of 39 hotels are operational, with expected reopening dates for two more hotels in September. Xenia plans to sell the Marriott Napa Valley Hotel & Spa for $100 million, while reporting average occupancy of 30% and average daily rates of $170 in August.
Xenia Hotels & Resorts, Inc. (NYSE: XHR) announced the pricing of its offering of $300 million in 6.375% senior secured notes due 2025. The offering is set to close on August 18, 2020. The notes will pay interest semi-annually and are guaranteed by the company and certain subsidiaries. The proceeds will be used to repay borrowings and for general corporate purposes. The notes will not be registered under the Securities Act and will only be sold to qualified institutional buyers.
Xenia Hotels & Resorts, Inc. (NYSE: XHR) announced its intention to offer $300 million in senior secured notes due 2025 through its operating partnership, XHR LP. These notes will be secured obligations guaranteed by the company and some subsidiaries. The proceeds will primarily be used to repay borrowings under existing credit facilities and for general corporate purposes. The offering will comply with specific regulations and is targeted at qualified institutional buyers. Xenia operates 39 hotels in the U.S., focusing on luxury and upper upscale segments.
Xenia Hotels & Resorts reported significant financial challenges for the quarter ending June 30, 2020, with a net loss of $99.1 million, or $0.88 per share, and a total of 31 hotels temporarily closed due to the pandemic. By the end of June, 26 hotels were operational, expected to increase to 35 by the end of July, which would represent 83% of their room capacity. The company emphasized liquidity with $306 million in cash and ongoing modifications to debt agreements to navigate financial strains. Adjusted EBITDAre was $(43) million in Q2 2020, reflecting a drastic decline from previous year results.
Xenia Hotels & Resorts will report its second quarter 2020 financial results on July 30, 2020, before the market opens. A conference call will be held at 1:00 PM ET on the same day to discuss the results. Investors can participate by dialing (855) 656-0921, with an international option at (412) 542-4169. A live webcast will also be available on the Company's website, with a replay accessible thereafter.
Xenia focuses on luxury and upper upscale hotels, owning 39 hotels and 11,245 rooms in 16 states.
Xenia Hotels & Resorts, Inc. (NYSE: XHR) has finalized amendments to its credit agreements, including a $500 million senior revolving credit facility and term loans totaling $575 million. Key amendments waive existing quarterly financial covenants through Q1 2021 and extend the maturity of a $175 million term loan to February 2022, ensuring no debt maturities until then. The company also suspended dividends and will not pay for the remainder of the year unless needed to maintain REIT status. These changes grant financial flexibility amid challenges posed by the COVID-19 pandemic.