Xenia Hotels & Resorts Inc. (XHR) stock soared to a 52-week high, reaching $15.86 amidst a buoyant market. This peak represents a significant milestone for the company, reflecting a robust recovery and investor confidence. Over the past year, Xenia's stock has witnessed a remarkable turnaround, with a total return of nearly 27%. This growth trajectory underscores the resilience of the hospitality sector and Xenia's strategic initiatives to capitalize on the rebounding travel demand. Investors are closely monitoring the stock's performance as it navigates through the post-pandemic landscape, with analyst targets reaching as high as $18 per share. For deeper insights into XHR's valuation and growth potential, access the comprehensive Pro Research Report available on InvestingPro, which covers 1,400+ top US stocks.
In other recent news, Xenia Hotels & Resorts reported a net loss of $7.1 million for the recent third quarter, alongside an adjusted EBITDAre of $44.3 million. Despite facing 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.
The company also announced its intention to offer $365 million in senior notes due in 2030. The proceeds from the notes, along with borrowings under Xenia's amended credit agreement from November 4, 2024, aim to redeem its 6.375% senior notes due 2025. These notes will be guaranteed by Xenia and certain subsidiaries that are also guarantors of the Issuer's other debts.
Despite the downward revision of full-year adjusted EBITDAre guidance, Xenia Hotels & Resorts maintains a positive outlook, with strong future group bookings and an increase in capital expenditures planned for the year. The company's renovated properties, such as Grand Bohemian Orlando and Kimpton Canary Santa Barbara, have shown strong performance. These are the recent developments in the company.
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