Xenia Hotels & Resorts Completes Disposition of Lorien Hotel & Spa

PR Newswire

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 .

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SOURCE Xenia Hotels & Resorts, Inc.