Barry A.N. Bloom Promoted to President and Chief Operating Officer
The Company acquired the two hotels from affiliates of Hyatt Hotels Corporation for a combined purchase price of $305 million, or approximately $498,350 per key.
Xenia Hotels & Resorts, Inc. (NYSE: XHR today announced its acquisition of The Ritz-Carlton Pentagon City, a 365-room hotel located in Arlington, Virginia, for a purchase price of $105 million, or approximately $287,670 per key.
Same-Property RevPAR decreased 1.4% compared to the second quarter of 2016 to $166.18, as occupancy decreased 120 basis points and ADR increased 0.1%. Excluding the Company's Houston-area hotels, Same-Property RevPAR increased 0.3%, as occupancy declined 4 basis points and ADR increased 0.4%.
Xenia Hotels & Resorts, Inc. (NYSE: XHR) today announced the completion of the 5-hotel, 812-guestroom portfolio sale to an affiliate of Summit Hotel Properties (NYSE: INN) for a total purchase price of $163 million, or approximately $201,000 per key.
Xenia Hotels & Resorts, Inc. (NYSE: XHR) today announced its acquisition of the 815-key Hyatt Regency Grand Cypress in Orlando, Florida from an affiliate of Hyatt Hotels Corporation for a purchase price of $205.5 million, or approximately $252,000 per key.
Same-Property RevPAR increased 2.7% compared to the first quarter of 2016 to $147.14, as occupancy increased 123 basis points and ADR increased 1.0%. Excluding the Company's Houston-area hotels, Same-Property RevPAR also increased 2.7%, as occupancy increased 146 basis points and ADR increased 0.7%.
Xenia Hotels & Resorts Reports Fourth Quarter and Full Year 2016 Results
Xenia Hotels & Resorts, Inc. (NYSE: XHR) today announced that it has sold the 162-room Homewood Suites by Hilton Houston Near the Galleria, the 148-room Hampton Inn & Suites Denver Downtown, the 178-room Hilton Garden Inn Chicago North Shore / Evanston, and the 195-room Hilton St. Louis Downtown for a combined sale price of approximately $119 million.
Adjusted EBITDA declined $1.8 million to $72.9 million, a decrease of 2.4% compared to the third quarter of 2015.