Xenia Hotels & Resorts Stock Price, News & Analysis

Xenia Hotels & Resorts, Inc. (NYSE: XHR) is a self-advised and self-administered real estate investment trust (REIT) focused on the lodging sector in the United States. According to the company’s disclosures, Xenia invests in uniquely positioned luxury and upper upscale hotels and resorts with a focus on the top 25 lodging markets as well as key leisure destinations in the U.S. The company’s portfolio consists of 30 hotels and resorts comprising 8,868 rooms across 14 states.

Business model and portfolio focus

Xenia’s business model centers on owning and investing in premium lodging real estate. The company states that its properties are in the luxury and upper upscale segments and are operated and/or licensed by well-known hotel brands. These include Marriott, Hyatt, Kimpton, Fairmont, Loews, Hilton, and The Kessler Collection, among others. By aligning with established hotel operators and brands, Xenia participates in the performance of hotels and resorts that are positioned in higher-end segments of the lodging market.

The company emphasizes a focus on the top 25 lodging markets and key leisure destinations in the United States. This approach reflects an emphasis on markets that the company views as important for both business and leisure travel. Xenia describes its portfolio as a premium lodging real estate portfolio that is 100% luxury and upper upscale as defined by STR, and 100% branded.

Revenue mix and demand segments

Based on the company’s public business updates, Xenia’s revenues are derived from both rooms and non-rooms sources. The company has highlighted that a significant portion of its revenues comes from non-rooms categories, such as food and beverage and other hotel-related activities, and that this non-rooms weighting has been greater than that of certain lodging REIT peers over a specified period. Xenia has also noted that its investments in meeting space and group amenities have contributed to growth in non-rooms revenues.

The company identifies several demand segments for its hotels, including group business. Xenia has stated that approximately 35% of its room night demand is derived from the group segment, and it tracks metrics such as group rooms revenue pace. The company has also referenced transient and contract business in prior descriptions of its customer groups. This mix of demand sources contributes to what Xenia describes as a diverse revenue mix across its portfolio.

Operations, capital allocation, and property improvements

Xenia regularly reports on portfolio performance metrics such as occupancy, average daily rate (ADR), revenue per available room (RevPAR), and total RevPAR for its same-property and total portfolios. These metrics, along with non-GAAP measures such as EBITDAre, Adjusted EBITDAre, Funds From Operations (FFO), Adjusted FFO, Same-Property Hotel EBITDA, and Hotel EBITDA Margin, are used by the company to describe operating performance across its hotels.

The company also provides detail on its capital allocation activities. In recent periods, Xenia has disclosed share repurchases under a board-authorized repurchase program, including additional authorization for repurchasing common shares. It has also described transactions involving hotel assets, such as the sale of the Fairmont Dallas and the acquisition of the fee simple interest in the land underlying Hyatt Regency Santa Clara. According to the company, proceeds from asset sales may be used for general corporate purposes, which can include debt repayments, potential acquisitions consistent with its strategy, and share repurchases.

Capital expenditures are a recurring focus. Xenia has reported investing in portfolio improvements, including a transformative renovation of the Grand Hyatt Scottsdale Resort, upgrades to guest rooms at properties such as Renaissance Atlanta Waverly Hotel & Convention Center, Marriott San Francisco Airport Waterfront, Hyatt Centric Key West Resort & Spa, Hyatt Regency Santa Clara, Grand Bohemian Hotel Mountain Brook, Grand Bohemian Hotel Charleston, and Kimpton RiverPlace Hotel, as well as infrastructure upgrades like façade waterproofing, chiller replacements, elevator and escalator modernization, and fire alarm system upgrades at multiple hotels.

Examples of property-level initiatives

In its public communications, Xenia has highlighted specific property-level initiatives that illustrate how it manages and enhances its portfolio. At Grand Hyatt Scottsdale Resort, the company has described a transformational renovation, including expansion of the Arizona Ballroom, renovation of premium suites and casitas, improvements to the building façade, and parking lot upgrades. Xenia has also noted that five rooms were added to inventory at this resort.

Another example is the W Nashville, where Xenia entered into agreements with José Andrés Group to operate and/or license substantially all of the food and beverage outlets at the property. The concepts described by the company include Zaytinya, Bar Mar, Butterfly, a new pool deck concept, and a premium banquet and catering menu. Xenia has stated that it anticipates capital expenditures to modify existing food and beverage venues in connection with this relaunch.

Financial reporting and guidance

Xenia provides regular updates on its financial condition and results of operations through quarterly earnings releases and related SEC filings, including Forms 8-K that furnish earnings press releases. These communications include detailed tables of operating statistics, non-GAAP reconciliations, and commentary on market conditions and portfolio performance. The company also periodically provides full-year outlook and guidance ranges for metrics such as net income, Same-Property RevPAR change, Adjusted EBITDAre, Adjusted FFO, Adjusted FFO per diluted share, and capital expenditures, along with key assumptions underlying that guidance.

Liquidity and balance sheet information is also disclosed, including total outstanding debt, weighted-average interest rate, cash and cash equivalents, restricted cash and escrows, availability on the revolving line of credit, and total liquidity. The company has described the status of its term loan and revolving credit facility, including use of a delayed draw term loan feature and the undrawn status of its revolving line of credit at various reporting dates.

Regulatory status and SEC filings

Xenia Hotels & Resorts, Inc. is incorporated in Maryland and files reports with the U.S. Securities and Exchange Commission (SEC) under Commission File Number 001-36594. Recent Form 8-K filings have covered topics such as results of operations and financial condition, and regulation FD disclosures related to business updates and outlook. These filings often attach press releases as exhibits and specify whether the information is deemed "filed" or "furnished" for purposes of the Exchange Act.

The company’s SEC filings, including Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q, contain sections such as "Management’s Discussion and Analysis of Financial Condition and Results of Operations" and "Risk Factors" that provide additional detail on its business, financial performance, and risks.

Stock information

Xenia’s common stock trades on the New York Stock Exchange under the ticker symbol XHR. As a lodging-focused REIT, the company’s disclosures emphasize metrics commonly used by real estate and lodging investors, including RevPAR, Total RevPAR, FFO, and EBITDA-based measures, in addition to net income and earnings per share.

Evergreen considerations

The information above is based on the company’s own descriptions in press releases and SEC filings. Specific financial figures, portfolio counts, and guidance ranges can change over time as Xenia acquires or disposes of properties, invests in renovations, repurchases shares, or updates its outlook. For the most detailed and current view of the company’s operations, portfolio, and financial condition, investors are directed in the company’s communications to review its SEC filings and investor materials.