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Dec 31, 2019
Xenia Q4 2019 Earnings Report
Reported fourth quarter performance towards the upper end of implied guidance, exceeding high-end estimates for Adjusted EBITDAre and Adjusted FFO.
Key Takeaways
Xenia Hotels & Resorts reported a net income of $15.6 million for Q4 2019. Same-Property RevPAR decreased slightly by 0.4% compared to Q4 2018, while Adjusted EBITDAre declined by 4.9%. The company completed the acquisition of Hyatt Regency Portland and the sale of two hotels during the quarter.
Net income attributable to common stockholders was $15.6 million, with net income per diluted share at $0.14.
Same-Property RevPAR decreased by 0.4% compared to the fourth quarter of 2018, driven by decreases in occupancy and ADR.
Adjusted EBITDAre declined by 4.9% to $72.0 million compared to the fourth quarter of 2018.
The company completed the acquisition of Hyatt Regency Portland and the sale of Marriott Griffin Gate Resort & Spa and Marriott Chicago at Medical District/UIC.
Revenue by Geographic Location
Forward Guidance
The company expects 2020 to be a transitional year with slightly lower top-line performance and higher operating expenses, resulting in lower Adjusted EBITDAre and Adjusted FFO compared to 2019.
Positive Outlook
- Planned improvements to enhance the portfolio.
- Positioning the Company for strong growth in 2021 and beyond.
- Confidence in the long-term growth trajectory of the company.
- Recently completed and prospective transaction and capital spending activities.
- Balance sheet will be further strengthened by the pending disposition.
Challenges Ahead
- Revenue disruption due to renovations.
- Slightly lower top-line performance.
- Higher operating expenses.
- Lower Adjusted EBITDAre as compared to 2019.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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