Xenia Hotels Results
Xenia Hotels & Resorts Fourth Quarter and Full Year 2016 Net Income Declines
Xenia Hotels & Resorts Reports Fourth Quarter and Full Year 2016 Results
Xenia Hotels & Resorts Reports Fourth Quarter and Full Year 2016 Results
Adjusted EBITDA declined $1.8 million to $72.9 million, a decrease of 2.4% compared to the third quarter of 2015.
Same-Property RevPAR increased 1.8% from the second quarter of 2015 to $162.47, as occupancy remained flat and ADR increased 1.8%. Excluding hotels located in Houston, Same-Property RevPAR increased 3.8% from the second quarter of 2015, as occupancy increased 63 basis points and ADR increased 3.0%.
Xenia Hotels & Resorts Reports Fourth Quarter And Full Year 2015 Results, And Provides 2016 Guidance
Same-Property RevPAR, as adjusted by our operators for USALI, increased 4.6% from the third quarter of 2014 to $147.81, as occupancy remained essentially flat and ADR increased 4.6%. Same-Property Hotel EBITDA margin was 31.8%, an increase of 60 basis points from the same period in 2014.
For the six months ended June 30, 2015, Same-Property RevPAR as provided by our operators adjusted for USALI increased 4.2% from the first half of 2014 to $142.44 with ADR growth of 5.5% offset by a slight decline in occupancy of 1.3%.
Total pro forma revenues for the twelve months ended December 31, 2014 are expected to increase $58.0 million, or 6.7%, from the prior year. RevPAR for the twelve months ended December 31, 2014 is expected to increase 6.7% from the prior year. Adjusted EBITDA is expected to increase 9.0% to $254.8 million from the prior year.