Xenia Hotels (XHR) Tops Q2 EPS by 46c, Beats on Revenues

Xenia Hotels (NYSE: XHR) reported Q2 EPS of $0.65, $0.46 better than the analyst estimate of $0.19. Revenue for the quarter came in at $244.39 million versus the consensus estimate of $231.65 million.

Second Quarter 2017 Highlights

• Net Income: Net income attributable to common stockholders was $69.4 million, which includes a $49.2 million gain on the sale of investment properties. Net income per diluted share was $0.65.
• Same-Property RevPAR: 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%.
• Same-Property Hotel EBITDA Margin: Same-Property Hotel EBITDA Margin was 34.2%, a decrease of 32 basis points compared to the second quarter of 2016. Excluding the Company\'s Houston-area hotels, Same-Property Hotel EBITDA Margin increased 29 basis points.
• Total Portfolio RevPAR: Total Portfolio RevPAR was 0.8% higher than in the second quarter of 2016.
• Adjusted EBITDA: Adjusted EBITDA declined $8.4 million to $79.6 million, a decrease of 9.6% primarily due to net asset dispositions since the second quarter of 2016.
• Adjusted FFO per Diluted Share: Adjusted FFO per diluted share was $0.59, a decrease of 9.2% compared to the second quarter of 2016.
• Transaction Activity: The Company acquired one hotel for $205.5 million and sold six hotels for total consideration of $193 million.
• Financing Activity: The Company obtained a new $115 million mortgage loan collateralized by the Marriott San Francisco Airport Waterfront and paid off three mortgage loans totaling $128 million.
• Dividends: The Company declared its second quarter dividend of $0.275 per share to common stockholders of record on June 30, 2017.

For earnings history and earnings-related data on Xenia Hotels (XHR) click here.

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