ORLANDO,
Fla., July 9, 2024 /PRNewswire/ -- Xenia Hotels
& Resorts, Inc. (NYSE: XHR) ("Xenia" or the "Company") today
announced it has completed the disposition of the 107-room Lorien
Hotel & Spa in Alexandria, VA,
for $30 million, or approximately
$280,000 per key. The sale price
represents a 21.3x multiple and a 3.1% capitalization rate on Hotel
EBITDA and Net Operating Income for the trailing twelve months
ended May 31, 2024, respectively.
Proceeds will be utilized for general corporate purposes, which
may include share repurchases, debt repayment, capital expenditures
and acquisitions consistent with the Company's long-term
strategy.
About Xenia Hotels & Resorts, Inc.
Xenia Hotels
& Resorts, Inc. is a self-advised and self-administered REIT
that 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 United
States. The Company owns 31 hotels comprising 9,408 rooms
across 14 states. Xenia's hotels are in the luxury and upper
upscale segments, and operated and/or licensed by industry leaders
such as Marriott, Hyatt, Kimpton, Fairmont, Loews, Hilton, and The Kessler
Collection. For more information on Xenia's business, refer to the
Company website at www.xeniareit.com.
For additional information or to receive press
releases via email, please visit our website
at
www.xeniareit.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/xenia-hotels--resorts-completes-disposition-of-lorien-hotel--spa-302192433.html
SOURCE Xenia Hotels & Resorts, Inc.