Xenia Hotels & Resorts, Inc. (NYSE: XHR today provided an update on pending transactions, as well as an update on the impact of COVID-19 on its operations.
Since the Company issued full-year guidance on February 24, 2020, group cancellations have increased to approximately $15 million of revenues. Group cancellations to date are primarily for March and April 2020.
The portfolio consists of seven Kimpton-managed hotels, including Canary Hotel Santa Barbara, Hotel Monaco Chicago, Hotel Monaco Denver, Hotel Monaco Salt Lake City, Hotel Palomar Philadelphia, Lorien Hotel & Spa in Alexandria, Virginia, and RiverPlace Hotel in Portland, Oregon.
Xenia Hotels & Resorts, Inc. (NYSE: XHR) today announced it has acquired the newly developed 600-room Hyatt Regency Portland at the Oregon Convention Center located in Portland, Oregon for a purchase price of $190 million, or approximately $317,000 per key.
Xenia Hotels & Resorts, Inc. (NYSE: XHR) 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.
ame-Property RevPAR was $164.25, an increase of 2.5% compared to the third quarter of 2018, as a result of a 140 basis point increase in occupancy and a 0.6% increase in ADR.
Same-Property RevPAR: Same-Property RevPAR increased 1.3% compared to the second quarter of 2018 to $181.09, as a result of a 63 basis point increase in occupancy and a 0.5% increase in ADR.
Total Portfolio RevPAR was $170.28, a 7.2% increase compared to the first quarter of 2018 reflecting portfolio performance and upgrades to overall portfolio quality as a result of transactions that were completed in 2018.
Xenia Hotels & Resorts, Inc. (NYSE: XHR) today announced it has sold the 228-room Residence Inn Denver City Center in Denver, Colorado for a price of $92 million, or approximately $404,000 per key.
Xenia Hotels & Resorts, Inc. (NYSE: XHR) today announced its acquisition of the former Mandarin Oriental, Atlanta, a 127-room luxury hotel located in the upscale Buckhead area of Atlanta, Georgia, for $53.5 million, or approximately $421,000 per key.