Core Insights - Xenia Hotels & Resorts, Inc. (XHR) demonstrates resilience despite a weak sector outlook, with steady operations and improved financials following renovation completions [1] - Management expresses a preference for share buybacks over new investments, indicating confidence in the company's value [1] - XHR has no near-term debt maturities, positioning the company favorably for future financial stability [1] Financial Performance - The company has shown improved financials post-renovation, contributing to its operational steadiness [1] - The focus on share buybacks suggests a strategic allocation of capital towards enhancing shareholder value rather than pursuing new investments [1] Market Position - XHR's resilience in a challenging sector indicates a strong market position, potentially making it an attractive option for investors looking for stability [1]

Core Insights - Orsted reported a quarterly net loss of 1.7 billion Danish kroner ($261.8 million) for the July-September period, a significant decline from a profit of 5.17 billion Danish kroner in the same period last year [2] - The company flagged third-quarter impairment costs of nearly 1.8 billion Danish kroner [2] - Orsted reiterated its full-year EBITDA guidance of 24-27 billion Danish kroner, excluding earnings from new partnerships and cancellation fees [3] - The company announced a deal to sell a 50% stake in its Hornsea 3 offshore wind farm in the U.K. to Apollo Global Management for $6 billion [3] - Orsted's CEO expressed satisfaction with the progress across the construction portfolio and emphasized the company's focus on maintaining its leadership in offshore wind [4] - Despite the challenges, Orsted's shares rose by 1.2% on Wednesday morning, although the stock price has significantly declined this year due to U.S. government actions against wind developments [5]

Core Insights - Xenia Hotels & Resorts (XHR) demonstrates resilience despite a weak sector outlook, showing steady operations and improved financials following renovation completions [1] - Management expresses a preference for share buybacks over new investments, indicating confidence in the company's value [1] - XHR has no near-term debt maturities, positioning the company favorably for future financial stability [1] Financial Performance - The completion of renovations has led to improved financials for XHR, contributing to its steady operational performance [1] - The company's strategy of prioritizing share buybacks suggests a strong belief in its current valuation and future prospects [1] Market Position - XHR's resilience in a challenging sector highlights its competitive positioning and operational effectiveness [1] - The lack of near-term debt maturities enhances XHR's financial flexibility, allowing for strategic decisions without immediate pressure [1]

Company Overview - As of September 30, 2025, Xenia owned 30 hotels and resorts, comprising 8,868 rooms across 14 states[131]. - The number of properties decreased from 31 to 30, and the number of rooms decreased from 9,408 to 8,868, representing a reduction of 540 rooms[143]. - The company owned 30 lodging properties as of September 30, 2025, compared to 31 properties in the same period of 2024[32]. Financial Performance - Total revenues for the nine months ended September 30, 2025, increased by $35.7 million, or 4.6%, to $812.9 million compared to $777.2 million for the same period in 2024[145]. - Total revenues for the three months ended September 30, 2025, were $236.4 million, a slight decrease of 0.2% compared to $236.8 million in the same period of 2024[14]. - Net income increased 243.1% for the nine months ended September 30, 2025, attributed to a $38.3 million increase in gain on sale of investment properties[141]. - Net income for the nine months ended September 30, 2025, was $60,540,000, compared to $17,647,000 for the same period in 2024, representing a significant increase of 242%[25]. - Comprehensive income attributable to the Company for the nine months ended September 30, 2025, was $56.3 million, compared to $15.0 million in the same period of 2024[17]. Revenue Breakdown - Rooms revenues for the nine months ended September 30, 2025, decreased by $0.9 million, or 0.2%, to $452.6 million, primarily due to the sale of Lorien Hotel & Spa and Fairmont Dallas[147]. - Food and beverage revenues for the nine months ended September 30, 2025, increased by $28.0 million, or 10.9%, to $284.7 million, driven by increased occupancy and strong group business demand[150]. - Other revenues for the nine months ended September 30, 2025, increased by $8.6 million, or 12.9%, to $75.7 million, attributed to increases in occupancy and ancillary fees[152]. Operating Expenses - Total hotel operating expenses for the nine months ended September 30, 2025, increased by $19.1 million, or 3.5%, to $563.6 million, largely due to increases in occupancy and renovation disruptions[156]. - Total hotel operating expenses for the three months ended September 30, 2025, increased by $1.4 million, or 0.8%, to $177.1 million, influenced by renovation disruptions[155]. - General and administrative expenses increased by $1.0 million, or 12.5%, to $8.8 million for the three months ended September 30, 2025, from $7.8 million for the same period in 2024[162]. Debt and Liquidity - Total debt as of September 30, 2025, was $1.4 billion with a weighted-average interest rate of 5.63%[180]. - As of September 30, 2025, the company had $188.2 million of consolidated cash and cash equivalents and $80.7 million of restricted cash and escrows[175]. - The Company had $200 million available for sale under the ATM Agreement as of September 30, 2025[176]. - The Operating Partnership entered into a new $825 million senior unsecured credit facility, which includes a $500 million revolving line of credit and a $225 million term loan, maturing in November 2028[182]. Shareholder Activity - The Company repurchased 974,645 shares for $12.3 million during the three months ended September 30, 2025, and 6,656,706 shares for $83.8 million during the nine months ended September 30, 2025[191]. - The Company declared dividends of $0.14 per share for the quarters ended March 31, June 30, and September 30, 2025[88]. - The Company had approximately $134.1 million remaining under its share repurchase authorization[87]. Market Conditions - Demand for hotel rooms decreased 0.6% during the three months ended September 30, 2025, while new hotel supply increased 0.9%[138]. - The U.S. lodging industry experienced a decrease in occupancy of 1.5% for the three months ended September 30, 2025, leading to a 1.4% decrease in industry RevPAR[138]. - The unemployment rate rose to 4.3% in August 2025, compared to 4.1% in June 2025[137]. Tax and Interest Expenses - Income tax expense increased by $5.6 million, or 138.9%, to $1.6 million for the nine months ended September 30, 2025, from an income tax benefit of $4.0 million for the same period in 2024[172]. - Interest expense increased by $1.7 million, or 8.3%, to $21.8 million for the three months ended September 30, 2025, from $20.1 million for the same period in 2024[171]. Capital Expenditures - The Company made total capital expenditures of $19.9 million and $70.7 million for the three and nine months ended September 30, 2025, respectively[193]. - Capital expenditures for the nine months ended September 30, 2025, were $70,703,000, down from $116,152,000 in 2024, indicating a decrease of 39.2%[25]. Cash Flow - Cash provided by operating activities increased to $155.1 million for the nine months ended September 30, 2025, compared to $133.1 million for the same period in 2024[197]. - The net increase in cash and cash equivalents at the end of the period was $125.4 million for the nine months ended September 30, 2025, compared to $1.6 million in 2024[196]. - Cash used in investing activities was $8.7 million for the nine months ended September 30, 2025, a significant improvement from $(84.5) million in 2024[198].

Xenia Hotels & Resorts (NYSE:XHR) Q3 2025 Earnings Call October 31, 2025 10:00 AM ET Speaker4Hello and welcome everyone to the Xenia Hotels & Resorts Q3 2025 earnings conference call. My name is Becky and I'll be your operator today. During the presentation, you can register a question by pressing STAR followed by 1 on your keypad. If you change your mind, please press STAR followed by 2. I will now hand over to your host, Aldo Martinez, Manager, Finance, to begin. Please go ahead.Speaker0Thank you, Becky. ...

October 2025 Investor Presentation Forward-Looking Statements This presentation has been prepared by Xenia Hotels & Resorts, Inc. (the "Company" or "Xenia") solely for informational purposes. This presentation contains, and our responses to various questions from investors may include, "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements in this presentation include, among others, statements about our plans, strategies, or other ...

Financial Performance - Net loss attributable to common stockholders for Q3 2025 was $13.7 million, or $0.14 per share, compared to a net loss of $7.1 million, or $0.07 per share in Q3 2024, representing a 93.7% increase in loss [5][8]. - Adjusted EBITDAre for Q3 2025 was $42.2 million, a decrease of 4.6% compared to Q3 2024 [5][8]. - Total revenues for the three months ended September 30, 2025, were $236.4 million, a slight decrease of 0.2% compared to $236.8 million in the same period of 2024 [38]. - Operating income for the nine months ended September 30, 2025, was $80.8 million, up 23.5% from $65.4 million in the same period of 2024 [38]. - Net income attributable to common stockholders for the nine months ended September 30, 2025, was $57.0 million, compared to $16.8 million in the same period of 2024 [40]. - The company reported a net loss of $(14.5) million for Q3 2025, compared to a net loss of $(7.4) million in Q3 2024 [40]. - Comprehensive income attributable to the company for the nine months ended September 30, 2025, was $56.3 million, compared to $15.0 million in the same period of 2024 [40]. - EBITDA for the nine months ended September 30, 2025, was $225.306 million, an increase from $169.993 million in 2024, representing a growth of approximately 32.5% [58]. - FFO attributable to common stock and unit holders for the nine months ended September 30, 2025, was $119.073 million, compared to $111.396 million in 2024, reflecting an increase of approximately 6.9% [66]. Revenue and Occupancy Metrics - Same-Property RevPAR for Q3 2025 was flat at $164.50, while Same-Property Total RevPAR increased by 3.7% to $289.76 compared to Q3 2024 [5][8]. - Same-Property occupancy for Q3 2025 was 66.3%, a decrease of 100 bps compared to 67.3% in Q3 2024 [79]. - Same-Property average daily rate (ADR) increased by 1.6% to $248.09 in Q3 2025 from $244.24 in Q3 2024 [79]. - Total Same-Property revenues for Q3 2025 were $236,405, representing a 3.8% increase from $227,812 in Q3 2024 [80]. - Same-Property Hotel EBITDA for Q3 2025 was $46,956, a slight increase of 0.7% from $46,617 in Q3 2024 [79]. - For the nine months ended September 30, 2025, the same-property portfolio occupancy was 69.4%, up from 68.6% in the same period of 2024 [93]. - The ADR for the nine-month period increased to $264.90, compared to $258.59, marking a 4.9% increase year-over-year [93]. - RevPAR for the nine-month period improved to $183.84, up from $177.31, reflecting a 4.3% increase [93]. Capital Expenditures and Investments - Capital expenditures for the three months ended September 30, 2025, were $19.9 million, including investments in the renovation of Grand Hyatt Scottsdale Resort [16][18]. - The company anticipates approximately $9 million in capital expenditures for modifying existing food and beverage venues, with completion expected by Q2 2026 [21]. - Capital expenditures for 2025 are projected to be between $87.5 million and $92.5 million, reflecting a variance of $12.5 million to $7.5 million from prior guidance [24]. Debt and Financial Position - Total outstanding debt as of September 30, 2025, was approximately $1.4 billion with a weighted-average interest rate of 5.63% [12]. - Total debt as of September 30, 2025, was $1.423 billion, with a weighted-average interest rate of 5.63% [75]. - Cash and cash equivalents increased to $188.2 million as of September 30, 2025, compared to $78.2 million at the end of 2024 [36]. - The company has a total of $325 million in corporate credit facilities, with a variable interest rate of 6.05% [75]. Guidance and Future Expectations - The company expects a Same-Property RevPAR increase of 4% and Adjusted EBITDAre of $254 million for the full year 2025 [6]. - The updated full year 2025 guidance includes a net income range of $59 million to $67 million, with Same-Property RevPAR change projected at 3.50% to 4.50% [24]. - Adjusted EBITDAre is expected to be between $250 million and $258 million for 2025, with Adjusted FFO ranging from $167 million to $175 million [24]. - The company expects general and administrative expenses of approximately $24 million and interest expenses of about $81 million for 2025, with no changes from prior guidance [28]. - The company emphasizes that forward-looking statements are based on management's assumptions and are subject to various risks and uncertainties [29]. Operational Developments - The company completed significant infrastructure upgrades at ten hotels, with most work expected to be completed in Q4 2025 or early 2026 [18]. - Agreements were made with José Andrés Group to operate food & beverage outlets at W Nashville, aiming to drive incremental revenues [20]. - The company operates a Same-Property portfolio of 30 hotels with a total of 8,868 rooms as of September 30, 2025 [84].

Core Insights - Xenia Hotels & Resorts, Inc. reported third quarter results reflecting a challenging lodging industry environment, with flat Same-Property RevPAR and a cautious near-term outlook for the fourth quarter [4][6][19] Third Quarter 2025 Highlights - Same-Property RevPAR for the quarter was flat, but increased by 2.9% excluding Houston properties, driven by growth at Grand Hyatt Scottsdale [4][6] - Net loss attributable to common stockholders was $13.7 million, or $0.14 per share, a significant increase from a loss of $7.1 million, or $0.07 per share, in the same quarter of 2024 [5][6] - Same-Property Total RevPAR increased by 3.7% year-over-year to $289.76, while Same-Property Hotel EBITDA increased by 0.7% to $46.96 million [5][6] Year-to-Date 2025 Highlights - For the first nine months of 2025, Same-Property RevPAR increased by 3.7%, and Same-Property Hotel EBITDA Margin improved by 101 basis points [4][6] - Adjusted EBITDAre for the year-to-date was $194.7 million, a 9.4% increase compared to the same period in 2024 [6][7] Operating Results - Total revenues for the third quarter were $236.4 million, slightly down from $236.8 million in the same quarter of 2024 [33] - Same-Property occupancy decreased to 66.3%, down 100 basis points from the previous year, while Same-Property ADR increased by 1.6% to $248.09 [5][6] Capital Markets Activities - The company repurchased 974,645 shares of common stock at an average price of $12.66 per share during the quarter, totaling approximately $12.3 million [11] - Year-to-date, the company repurchased 6,656,706 shares at an average price of $12.59 per share, totaling approximately $83.8 million [11] Capital Expenditures - In the third quarter, the company invested $19.9 million in portfolio improvements, including the completion of renovations at Grand Hyatt Scottsdale [13][15] - Significant upgrades were made to guest rooms at various properties, with minimal disruption expected during lower occupancy periods [14][15] Current Full Year 2025 Outlook and Guidance - The company updated its full-year guidance, expecting Same-Property RevPAR to increase by 3.5% to 4.5% compared to 2024, with Adjusted EBITDAre projected between $250 million and $258 million [19][20] - The guidance reflects macroeconomic uncertainties and assumes no additional acquisitions or equity issuances [19][20] Liquidity and Balance Sheet - As of September 30, 2025, the company had total outstanding debt of approximately $1.4 billion and total liquidity of approximately $688 million [10] - The company held approximately $188 million in cash and cash equivalents, with full availability on its revolving line of credit [10] About the Company - Xenia Hotels & Resorts, Inc. is a self-advised and self-administered REIT focused on luxury and upper upscale hotels in the top 25 lodging markets in the U.S., owning 30 hotels with 8,868 rooms [22]

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