Xenia Hotels & Resorts Inc ( (XHR) ) has released its Q4 earnings. Here is a breakdown of the information Xenia Hotels & Resorts Inc presented to its investors.
Xenia Hotels & Resorts, Inc. is a self-advised and self-administered real estate investment trust (REIT) that invests in luxury and upper upscale hotels and resorts across the United States, focusing on top lodging markets and key leisure destinations. The company owns 31 hotels and resorts with 9,408 rooms in 14 states, operated under renowned brands like Marriott, Hyatt, and Hilton.
In its latest earnings report, Xenia Hotels & Resorts announced a net loss of $0.6 million for the fourth quarter of 2024, while achieving a net income of $16.1 million for the full year. The company reported an adjusted EBITDAre of $59.2 million for the quarter, a slight decrease from the previous year, and an adjusted FFO per diluted share of $0.39, reflecting a 4.9% decline. Despite these challenges, the company saw improvements in same-property occupancy and RevPAR, particularly benefiting from the renovation of the Grand Hyatt Scottsdale Resort.
Key financial metrics highlighted in the report include a full-year adjusted EBITDAre of $237.1 million, a decrease of 5.8% from 2023, and an adjusted FFO per diluted share increase of 3.2% to $1.59. The company also completed significant financing activities, including upsizing its corporate credit facility and issuing $400 million in senior notes, which helped address near-term debt maturities. Xenia declared a total of $0.48 in dividends per share for 2024 and repurchased over a million shares of common stock.
Looking ahead, Xenia Hotels & Resorts is optimistic about 2025, with expectations of continued RevPAR growth driven by the newly renovated Grand Hyatt Scottsdale and strong group revenue across its portfolio. The company plans further capital expenditures with minimal revenue disruption and anticipates a positive impact from its strategic investments and renovations.
Overall, Xenia’s management remains confident in the company’s growth prospects, despite economic uncertainties, and is well-positioned to capitalize on strategic opportunities in the hospitality market.