Xenia Hotels & Resorts Reports First Quarter 2025 Results

Core Viewpoint - Xenia Hotels & Resorts, Inc. reported strong first-quarter performance with nearly 12% growth in Adjusted EBITDAre and nearly 16% growth in Adjusted FFO per share compared to the same period in 2024, but has tempered its outlook for the remainder of the year due to macroeconomic uncertainty [3][4][16]. Financial Performance - Net income attributable to common stockholders for Q1 2025 was $15.6 million, an increase of 82.6% from $8.5 million in Q1 2024 [4][29]. - Adjusted EBITDAre for Q1 2025 was $72.9 million, up 11.8% from $65.3 million in Q1 2024 [4][46]. - Adjusted FFO for Q1 2025 was $52.1 million, a 14.4% increase from $45.5 million in Q1 2024 [4][46]. - Same-Property RevPAR increased by 6.3% to $188.73 in Q1 2025 compared to $177.50 in Q1 2024 [4][5]. Portfolio and Transactions - The company completed two significant transactions: acquired land at Hyatt Regency Santa Clara for $25 million and sold Fairmont Dallas for $111 million [3][10][11]. - The acquisition of the land improves flexibility and reduces potential future rent escalations, while the sale of Fairmont Dallas avoided costly renovations [3][10][11]. Capital Expenditures and Dividends - Capital expenditures for Q1 2025 totaled $32.4 million, primarily for renovations at Grand Hyatt Scottsdale Resort [12][15]. - The company increased its quarterly dividend by 17% to $0.14 per share for Q1 2025 [5][9]. Liquidity and Balance Sheet - As of March 31, 2025, total outstanding debt was approximately $1.4 billion with a weighted-average interest rate of 5.67% [7][8]. - The company had total liquidity of approximately $613 million, including $113 million in cash and cash equivalents [7][8]. Full Year 2025 Outlook - The company updated its full-year 2025 guidance, projecting net income between $43 million and $69 million and Adjusted FFO per diluted share between $1.50 and $1.75 [16][17]. - Same-Property RevPAR change is expected to be between 2.5% and 6.5% compared to 2024 [16][17].