ORLANDO, Fla., July 30, 2020 /PRNewswire/ -- Xenia Hotels & Resorts, Inc. (NYSE: XHR) ("Xenia" or the "Company") today announced results for the … "We would like to thank our bank group for their strong support of Xenia throughout the years and during these challenging times, as well as for their support on these amendments," commented Marcel Verbaas, Chairman and Chief Executive Officer of Xenia. EBITDA, EBITDAre, Adjusted EBITDAre, FFO, Adjusted FFO, Same-Property Hotel EBITDA, and Same-Property Hotel EBITDA Margin are non-GAAP financial measures. Sonia Angell, California's top health official, resignsDid Hedge Funds Make The Right Call On Iron Mountain Incorporated (IRM) ?Beirut port blast crater 43 metres deep: security official About Xenia Hotels & Resorts, Inc. Xenia Hotels & Resorts, Inc. is a self-advised and self-administered REIT that invests primarily in uniquely positioned luxury and upper upscale hotels and resorts, with a focus on the top 25 U.S. lodging markets as well as key leisure destinations in the United States.

The Company does not expect to pay a dividend for the balance of the year unless required to maintain REIT status. As you were browsing www.streetinsider.com something about your browser made us think you were a bot.If you are interested in www.streetinsider.com content, APIs are available. Accordingly, the Company encourages investors, the media, and others interested in Xenia to review the information that it shares at the Investor Relations link located on Net income (loss) attributable to common stockholdersNet income (loss) per share available to common stockholders - basic and dilutedNet loss for the three and six months ended June 30, 2020 reflects the impact of a $3.7 million and $20.1 million non-cash goodwill impairment charge, respectively. The conversion of the existing specialty restaurant into a new three-meal restaurant concept began in the second quarter and is expected to be completed in the fourth quarter.The Company began the guestroom renovation at Marriott Woodlands Waterway Hotel & Convention Center during the quarter and it was substantially completed early in the third quarter. The combination of debt service deferrals on the secured mortgage loans, as well as covenant waivers and the term loan maturity extension on our corporate credit facilities, helps provide us with additional financial flexibility during this global pandemic, which continues to have an unprecedented impact on the lodging industry. As of December 31, 2019, it owned 39 hotels comprising 11,245 rooms. The Company undertakes no duty to update the statements in this press release to conform the statements to actual results or changes in the Company's expectations.Investors and others should note that Xenia routinely announces material information to investors and the marketplace using U.S. Securities and Exchange Commission (SEC) filings, press releases, public conference calls, webcasts, and the Xenia Investor Relations website. "The operating environment in the second quarter was unlike anything we have ever experienced in the lodging industry," commented "Over the last few months, we have been reminded of some of our company's key advantages. Year to date, the Company repurchased a total of 165,516 shares of common stock for total consideration of $2.3 million. We own 38 hotels, including 36 wholly owned, comprised of premium full service and lifestyle hotels. "Same-Property" includes all hotels owned as of June 30, 2020, except for Hyatt Regency Portland at the Oregon Convention Center, which commenced operations in late December 2019.

ORLANDO, Fla., Aug. 10, 2020 /PRNewswire/ — Xenia Hotels & Resorts, Inc. (NYSE: XHR) (“Xenia” or the “Company”) today announced that its operating partnership, XHR LP (the “Issuer”), intends to offer, subject to market conditions and other factors, $300 million aggregate principal amount of senior secured notes due 2025 (the “Notes”). We intend to maintain these leaner operating models as demand returns to prior peak levels in the years ahead," continued Mr. Verbaas. In response to the rapidly deteriorating fundamentals in March, the Company worked with its hotel operators to reduce property expenses and manage working capital requirements. The terms of the modifications vary by lender, and include items such as the deferral of monthly interest and/or amortization payments for three to nine months, temporary elimination of requirements to make FF&E reserve contributions, ability to temporary utilize existing FF&E reserve funds for operating expenses, subject to certain restrictions and conditions, including requirements to replenish any funds used, waivers for existing quarterly financial covenants for one to three quarters, and adjustments to some covenant calculations following the waiver periods. The guestrooms, corridors, and meeting space were substantially completed during the first quarter. The Notes and the related guarantees have not been and will not be registered under the Securities Act of 1933, as amended (the "Securities Act"), any state securities laws or the securities laws of any other jurisdiction. Xenia Hotels & Resorts Announces Timing Of Second Quarter 2020 Earnings Release And Conference Call Article Stock Quotes (1) FREE Breaking News Alerts from StreetInsider.com! Renovation of the lobby and reception area, including the lobby lounge and bar, continued during the quarter and is anticipated to be substantially completed in the first half of the third quarter. "Our consistent strategic focus on having a significant investment in assets in key leisure destinations is expected to provide us with a competitive edge in the months and quarters ahead.

Includes hotels that had temporarily suspended operations for a portion of the three and six months ended June 30, 2020, as if all hotels rooms were available for sale. The Company owns 39 hotels comprising 11,245 rooms across 16 states. The Company expects to complete a modification to its remaining mortgage loan in July.Finally, consistent with prior updates, the Company has suspended its dividend and will not pay a second quarter dividend.

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