Xenia Hotels & Resorts(US:XHR)2025-10-31 10:32Financial 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].