Xenia Hotels (XHR) Reports In-Line Q3 EPS

Xenia Hotels (NYSE: XHR) reported Q3 EPS of $0.11, in-line with the analyst estimate of $0.11. Revenue for the quarter came in at $223.39 million versus the consensus estimate of $219.57 million.

• Net Income: Net income attributable to common stockholders was $11.6 million and net income per diluted share was $0.11.
• Same-Property RevPAR: Same-Property RevPAR decreased 1.3% compared to the third quarter of 2016 to $157.35, as occupancy increased 68 basis points and ADR decreased 2.2%. Hyatt Centric Key West Resort & Spa, which was closed for a portion of September due to Hurricane Irma, is included in all Same-Property portfolio metrics as if all rooms had been available. Excluding Hyatt Centric Key West Resort & Spa, Same-Property RevPAR decreased 1.1% compared to third quarter 2016.
• Same-Property Hotel EBITDA Margin: Same-Property Hotel EBITDA Margin was 30.7%, a decrease of 16 basis points compared to the third quarter of 2016.
• Total Portfolio RevPAR: Total Portfolio RevPAR was 0.3% higher than in the third quarter of 2016.
• Adjusted EBITDA: Adjusted EBITDA declined $9.3 million to $63.6 million, a decrease of 12.8% primarily due to net asset dispositions since the third quarter of 2016.
• Adjusted FFO per Diluted Share: Adjusted FFO per diluted share was $0.50, a decrease of 12.3% compared to the third quarter of 2016.
• Transaction Activity: The Company sold the Marriott West Des Moines for $19 million early in the third quarter. Subsequent to quarter end, in early October, the Company completed the acquisition of the 493-room Hyatt Regency Scottsdale Resort & Spa at Gainey Ranch and the 119-room Royal Palms Resort & Spa, part of The Unbound Collection by Hyatt, for a combined purchase price of $305 million. Also in October, the Company completed the acquisition of the 365-room Ritz-Carlton Pentagon City for $105 million.
• Financing Activity: The Company obtained a new $100 million mortgage loan on the Renaissance Atlanta Waverly Hotel & Convention Center and a new $125 million unsecured term loan.
• Dividends: The Company declared its third quarter dividend of $0.275 per share to common stockholders of record on September 29, 2017.

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

You May Also Be Interested In

• Diana Shipping withdraws bid to acquire Genco Shipping
• CaliberCos Inc (CWD) Misses Q2 EPS by 43c; Offers Guidance
• Movano (MOVE) Misses Q2 EPS by 195c