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Stock impact report

Xenia Hotels & Resorts sells Fairmont Dallas hotel for $111m [Yahoo! Finance]

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
Company Research Source: Yahoo! Finance
The sale price of the 545-room hotel is based on an 8.6× multiple and a 10% capitalisation rate on the hotel's EBITDA and net operating income for the year ending 28 February 2025. These figures do not include an estimated $80m in anticipated near-term capital expenditures. The net proceeds from the sale of the property are earmarked for general corporate purposes. These may encompass repaying debts, acquiring properties that align with the company's strategic vision, or repurchasing shares under the existing authorisation. Established in 1969, the Fairmont Dallas was acquired by Xenia in 2011 for $69m. Xenia Hotels & Resorts chair and CEO Marcel Verbaas said: "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 focus on upgrading the quality of the portfolio, prudent capital allocation, Show less Read more
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