Xenia Hotels & Resorts Inc. (XHR) stock soared to a 52-week high, reaching $16.32, marking a significant milestone for the company's shares. This peak reflects a robust 1-year total return of 32.5% and an impressive year-to-date gain of 22%, signaling strong investor confidence and a positive market outlook for the hotel and resort operator. The company's performance, particularly in the context of the recovering hospitality industry, has evidently resonated with investors, positioning XHR favorably among its peers. InvestingPro subscribers can access 8 additional key insights about XHR, including management's share buyback activities and dividend trends, through the comprehensive Pro Research Report available for over 1,400 US stocks.
In other recent news, Xenia Hotels & Resorts, a real estate investment trust, announced plans to offer $365 million in senior notes due in 2030. This offering aims to redeem its 6.375% senior notes due 2025 and cover related fees and expenses. These notes will not be registered under the Securities Act of 1933 or any state securities laws, and will be available only to qualified institutional buyers and certain non-U.S. persons in offshore transactions.
In earnings news, Xenia Hotels reported a net loss of $7.1 million for the recent third quarter, along with an adjusted EBITDAre of $44.3 million. Despite challenges such as hurricanes and renovation disruptions, the company saw a RevPAR increase of 1.5% across its portfolio. However, due to recent demand trends and the impact of Hurricane Milton, Xenia revised its full-year adjusted EBITDAre guidance downward.
Despite the downward revision, the company maintains a positive outlook, with strong future group bookings and an increase in capital expenditures planned for the year. Renovated properties, such as Grand Bohemian Orlando and Kimpton Canary Santa Barbara, have shown strong performance. These are the latest developments in Xenia Hotels & Resorts' ongoing operations.
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