Welcome to our dedicated page for Xenia Hotels & Resorts news (Ticker: XHR), a resource for investors and traders seeking the latest updates and insights on Xenia Hotels & Resorts stock.
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 (NYSE: XHR) reported all 35 of its hotels are operational as of June 3, 2021, with a positive occupancy increase in May 2021 to 50%. The company's average daily rate was $216, leading to a RevPAR of $108. Financially, Xenia secured $500 million in senior secured notes to enhance liquidity, totaling approximately $1 billion. Amendments to credit facilities provide increased flexibility, and the ATM program has been upsized by $200 million for further capital raising. Management remains optimistic about recovery driven by leisure demand.
Xenia Hotels & Resorts announced the appointment of Terrence Moorehead to its Board of Directors, effective May 25, 2021. This increases the Board to nine members, with eight being independent. Moorehead, CEO of Nature's Sunshine Products, brings expertise in high-end consumer products and health and wellness, relevant to Xenia's upscale lodging focus. His diverse experience includes executive roles at Avon and other companies. Moorehead expressed enthusiasm about joining Xenia and aims to enhance shareholder value through collaboration with the management team.
Xenia Hotels & Resorts announced the successful pricing of $500 million in senior secured notes due 2029, upsized from an earlier $400 million. These notes feature a fixed interest rate of 4.875% and will close on May 27, 2021. Proceeds will be used to repay existing debt and for general corporate purposes. Concurrently, the company received consents for amendments to credit facilities to facilitate the new notes, including waiving certain acquisition limitations. The notes will only be offered to qualified institutional buyers and are not registered under the Securities Act.
Xenia Hotels & Resorts, Inc. (NYSE: XHR) announced its intent to offer $400 million in senior secured notes due 2029. These notes will be guaranteed by the Company and certain subsidiaries. The proceeds will be used to repay existing borrowings and for general corporate purposes. The offering is restricted to qualified institutional buyers and non-U.S. persons outside the United States. Xenia operates 35 hotels across the U.S., focusing on luxury and upper upscale markets.
Xenia Hotels & Resorts (NYSE: XHR) reported a net loss of $(56.4) million or $(0.50) per share for Q1 2021, representing a 55.9% increase in losses from the same quarter in 2020. Adjusted EBITDAre stood at $(3.6) million, while Adjusted FFO per diluted share was $(0.18). Despite the losses, March showed improvements with a 45.4% occupancy rate and a RevPAR of $91.69. The company anticipates continued growth in leisure demand and is optimistic about a gradual recovery in business travel as vaccination rates increase. Xenia has $715 million in total liquidity as of March 31, 2021.
Xenia Hotels & Resorts, Inc. (NYSE: XHR) will report financial results for Q1 2021 on May 6, 2021, before market opens. A conference call will follow at 1:00 pm ET to discuss the results. Participants can join by dialing (855) 656-0921 or (412) 542-4169 from international locations. A live webcast will also be accessible on the Company's website. Xenia operates 35 hotels with 10,011 rooms across the U.S., focusing on luxury and upscale accommodations managed by top industry brands.
Xenia Hotels & Resorts (NYSE: XHR) reported its Q4 and full-year 2020 results, facing significant challenges from COVID-19. Q4 net income was $24.3 million, or $0.22 per share, while the full year net loss was $163.3 million, or $1.44 per share. The company sold four hotels for approximately $391 million to improve its portfolio quality and liquidity, which stood at $750 million at year-end. Same-Property RevPAR for Q4 was $50.82, down 68.5% year-over-year, but showed a 20% sequential increase. Adjusted EBITDAre for Q4 was $(10.1) million, indicating ongoing operational struggles.
Xenia Hotels & Resorts, Inc. (NYSE: XHR) has scheduled its 2021 Annual Meeting of Stockholders for May 18, 2021, in Orlando, Florida. The record date to determine stockholders eligible to vote is set for March 31, 2021. Xenia is a self-advised REIT focused on luxury and upper upscale hotels, owning 35 properties with over 10,000 rooms across 15 states. Their hotels are operated by leading brands such as Marriott and Hilton. For more details, visit www.xeniareit.com.
Xenia Hotels & Resorts, Inc. (NYSE: XHR) will announce its fourth quarter and full year 2020 financial results on March 1, 2021, before market opening. Management will host a conference call at 1:00 pm (ET) to discuss these results. Interested participants can dial in using (855) 656-0921 (or (412) 542-4169 internationally). A replay of the call will be available one hour after it concludes. Xenia operates 35 hotels with over 10,011 rooms across the U.S., particularly in major lodging markets.
Xenia Hotels & Resorts, Inc. (NYSE: XHR) completed the sale of the 245-room Hotel Commonwealth in Boston for $113.0 million and the 492-room Renaissance Austin Hotel for $70.0 million. The sales yielded approximately $461,000 and $142,000 per key, respectively. Year-to-date, Xenia has sold four hotels totaling nearly $400 million, providing significant capital and enhancing balance sheet flexibility. The Hotel Commonwealth sale achieved an 11.8x multiple on 2019 Hotel EBITDA, while the Renaissance Austin sale had a 6.8x multiple. Proceeds will be used for debt repayment and corporate purposes.