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Stock impact report

Xenia Hotels & Resorts Completes Sale of Fairmont Dallas [Yahoo! Finance Canada]

Xenia Hotels & Resorts, Inc. (XHR) 
Last xenia hotels & resorts, inc. earnings: 2/24 04:30 pm Check Earnings Report
US:NYSE Investor Relations: xeniareit.com
the "Company") today announced that it has sold the 545-room Fairmont Dallas for $111 million , or approximately per key. The transaction price represents an 8.6x multiple and a 10.0% capitalization rate on the property's Hotel EBITDA and Net Operating Income for the twelve months ended February 28, 2025 , respectively. These transaction price metrics are exclusive of an estimated $80 million of near-term capital expenditures. The Company expected Fairmont Dallas would have earned approximately $8 million of Hotel EBITDA for the remainder of 2025. "We are pleased to have completed the sale of Fairmont Dallas, which opened in 1969 and which we acquired in 2011 for $69 million ," said Marcel Verbaas , Chair and Chief Executive Officer of Xenia. "The unlevered IRR during our ownership period is 11.3%, which is an excellent outcome for this investment, particularly given the pandemic's significant negative impact on cash flows during 2020 and 2021. The disposition reflects our ongoing f Show less Read more
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