$XHR

Xenia Hotels & Resorts, Inc.

CIK:0001616000|SEC Filings

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenues:
Total revenues	$ 295,492	$ 287,579	$ 590,900	$ 576,506
Expenses:
Total hotel operating expenses	198,248	190,950	393,814	386,497
Depreciation and amortization	31,809	32,631	63,691	65,823
Real estate taxes, personal property taxes and insurance	12,656	11,928	24,902	25,657
Ground lease expense	494	527	874	1,358
General and administrative expenses	11,199	10,822	20,310	19,733
Other operating expenses	2,291	224	6,404	1,077
Impairment and other losses	38,764	279	39,251	279
Total expenses	295,461	247,361	549,246	500,424
Operating income	31	40,218	41,654	76,082
Gain on sale of investment properties	0	39,953	0	39,953
Other income	848	1,695	2,370	4,259
Interest expense	(20,532)	(21,926)	(41,411)	(42,977)
Loss on extinguishment of debt	(14)	0	(35)	0
Net income (loss) before income taxes	(19,667)	59,940	2,578	77,317
Income tax expense	(1,062)	(1,379)	(2,094)	(2,249)
Net income (loss)	(20,729)	58,561	484	75,068
Net (income) loss attributable to non-controlling interests (Note 1)	1,391	(3,404)	(51)	(4,326)
Net income (loss) attributable to common stockholders	$ (19,338)	$ 55,157	$ 433	$ 70,742
Basic and diluted income (loss) per share:
Net income (loss) per share available to common stockholders - basic (in dollars per share)	$ (0.21)	$ 0.56	$ 0	$ 0.71
Net income (loss) per share available to common stockholders - diluted (in dollars per share)	$ (0.21)	$ 0.56	$ 0	$ 0.71
Weighted-average number of common shares (basic) (in shares)	92,245,835	97,690,231	92,215,706	99,171,413
Weighted-average number of common shares (diluted) (in shares)	92,245,835	98,082,028	92,747,895	99,592,741
Comprehensive income (loss):
Net income (loss)	$ (20,729)	$ 58,561	$ 484	$ 75,068
Other comprehensive income (loss):
Unrealized gain (loss) on interest rate derivative instruments	20	(14)	141	(238)
Reclassification adjustment for amounts recognized in net income (loss) (interest expense)	(48)	(153)	(106)	(438)
Comprehensive (loss) income including portion attributable to noncontrolling interest	(20,757)	58,394	519	74,392
Comprehensive (income) loss attributable to non-controlling interests (Note 1)	1,393	(3,395)	(54)	(4,301)
Comprehensive income (loss) attributable to the Company	(19,364)	54,999	465	70,091
Rooms expenses
Revenues:
Total revenues	166,672	158,497	331,031	318,363
Expenses:
Expenses	40,584	39,156	79,940	78,478
Food and beverage expenses
Revenues:
Total revenues	102,447	102,186	207,451	206,885
Expenses:
Expenses	67,528	65,626	133,865	132,153
Other revenues
Revenues:
Total revenues	26,373	26,896	52,418	51,258
Other direct expenses
Expenses:
Other expenses	7,464	7,338	14,686	14,059
Other indirect expenses
Expenses:
Other expenses	72,031	68,674	142,586	139,687
Management and franchise fees
Expenses:
Expenses	$ 10,641	$ 10,156	$ 22,737	$ 22,120

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net income	$ 484	$ 75,068
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	63,689	65,809
Non-cash ground rent and amortization of other intangibles	2	14
Amortization of debt premiums, discounts, and financing costs	2,281	2,207
Loss on extinguishment of debt	35	0
Gain on sale of investment properties	0	(39,953)
Impairment and other losses	38,764	279
Gain on insurance recoveries	0	(548)
Share-based compensation expense	7,566	7,205
Changes in assets and liabilities:
Accounts and rents receivable	(9,807)	(9,834)
Other assets	(3,947)	3,285
Accounts payable and accrued expenses	2,124	(1,669)
Other liabilities	(4,740)	(10,784)
Net cash provided by operating activities	96,451	91,079
Cash flows from investing activities:
Purchase of investment properties	0	(25,441)
Capital expenditures	(30,604)	(50,841)
Proceeds from sale of investment properties	0	101,404
Proceeds from property insurance	0	2,393
Net cash (used in) provided by investing activities	(30,604)	27,515
Cash flows from financing activities:
Payoff of mortgage debt	(63,396)	0
Principal payments of mortgage debt	(1,878)	(2,153)
Principal payments on finance leases	(5)	0
Proceeds from Corporate Credit Facility Term Loan	0	100,000
Proceeds from draw on the Revolving Credit Facility	0	10,000
Payments on the Revolving Credit Facility	0	(20,000)
Repurchase of common shares	0	(71,454)
Redemption of Operating Partnership Units	0	(342)
Dividends and dividend equivalents	(26,823)	(26,658)
Shares redeemed to satisfy tax withholding on vested share-based compensation	(763)	(576)
Net cash used in financing activities	(92,865)	(11,183)
Net increase (decrease) in cash and cash equivalents and restricted cash	(27,018)	107,411
Cash and cash equivalents and restricted cash, at beginning of period	223,109	143,582
Cash and cash equivalents and restricted cash, at end of period	196,091	250,993
The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the condensed consolidated balance sheets to the amount shown in the condensed consolidated statements of cash flows:
Cash and cash equivalents	112,357	172,609
Restricted cash	83,734	78,384
Total cash and cash equivalents and restricted cash shown in the condensed consolidated statements of cash flows	196,091	250,993
The following represent cash paid during the periods presented for the following:
Cash paid for interest, net of $0.3 million of capitalized interest for the six months ended June 30, 2026 and 2025, respectively.	39,897	40,513
Cash paid for taxes	780	1,556
Supplemental schedule of non-cash investing and financing activities:
Accrued capital expenditures	64	1,598
Distributions payable	$ 13,664	$ 13,994

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Investment properties:
Land	$ 454,327	$ 472,648
Buildings and other improvements	3,105,328	3,128,322
Total	3,559,655	3,600,970
Less: accumulated depreciation	(1,144,476)	(1,098,972)
Net investment properties	2,415,179	2,501,998
Cash and cash equivalents	112,357	140,427
Restricted cash and escrows	83,734	82,682
Accounts and rents receivable, net of allowance for doubtful accounts	36,527	26,937
Goodwill	4,850	4,850
Deferred tax assets, net (Note 8)	5,387	5,544
Other assets	49,961	46,237
Assets held for sale (Note 4)	10,702	0
Total assets	2,718,697	2,808,675
Liabilities:
Debt, net of loan premiums, discounts and unamortized deferred financing costs (Note 5)	1,359,120	1,422,881
Finance lease liabilities	7,601	7,606
Accounts payable and accrued expenses	94,336	93,541
Distributions payable	13,664	13,538
Other liabilities	78,132	87,572
Liabilities associated with assets held for sale (Note 4)	1,365	0
Total liabilities	1,554,218	1,625,138
Commitments and Contingencies (Note 13)
Stockholders' equity:
Common stock, $0.01 par value, 500,000,000 shares authorized, 92,245,835 and 92,153,929 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively	923	922
Additional paid in capital	1,804,817	1,803,644
Accumulated other comprehensive income	118	86
Accumulated distributions in excess of net earnings	(695,983)	(670,434)
Total Company stockholders' equity	1,109,875	1,134,218
Non-controlling interests	54,604	49,319
Total equity	1,164,479	1,183,537
Total liabilities and equity	$ 2,718,697	$ 2,808,675