XHR - Xenia Hotels to acquire W Nashville for $328.7M

Xenia Hotels (NYSE:XHR) has agreed to acquire the 346-key W Nashville for a purchase price of $328.7M or $950,000 per key. The Company expects to close the transaction by the end of the first quarter and fund the acquisition with available cash. "The addition of W Nashville will mark the 14th property acquired since our listing on the NYSE in 2015 and aligns perfectly with our strategy of owning a portfolio of uniquely positioned premium hotels and resorts located in Top 25 markets and key leisure destinations that we expect to drive superior earnings growth," commented Marcel Verbaas, Xenia's Chairman and Chief Executive Officer.

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Xenia Hotels to acquire W Nashville for $328.7M