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Mar 31, 2020
Xenia Q1 2020 Earnings Report
Xenia's first quarter performance was significantly impacted by the COVID-19 pandemic, leading to a net loss and a decline in RevPAR and EBITDA margin.
Key Takeaways
Xenia Hotels & Resorts reported a net loss of $(36.1) million for the first quarter of 2020, with Same-Property RevPAR decreasing by 27.6% and Same-Property Hotel EBITDA Margin declining to 15.0% due to the impact of the COVID-19 pandemic.
Net loss attributable to common stockholders was $(36.1) million, or $(0.32) per diluted share.
Same-Property RevPAR decreased by 27.6% compared to Q1 2019, driven by a decline in occupancy and ADR.
Same-Property Hotel EBITDA Margin was 15.0%, a decrease of 1,441 basis points compared to Q1 2019.
The Company drew the remaining $340 million on its Senior Unsecured Revolving Credit Facility and expects to suspend its dividend through the balance of the year.
Xenia
Xenia
Forward Guidance
Due to the uncertainty surrounding the balance of 2020, the Company does not expect to issue guidance until it has more clarity on operating fundamentals.