Xenia Hotels & Resorts Stock Earnings Reports

Xenia reported Q3 2025 results roughly in line with prior expectations despite a challenging leisure environment. Key financials: net loss of $13.7M, Adjusted EBITDAre of $42.2M, and adjusted FFO per share of $0.23 (down 8% YoY). Same-property RevPAR for the 30-hotel portfolio was essentially flat for the quarter (occupancy down 100 bps, ADR up 1.6%); excluding Houston, RevPAR rose 0.9% driven largely by the continued ramp of Grand Hyatt Scottsdale. Strong group demand remains a bright spot, supports outsized non-room (F&B/banquet) growth, and provides momentum into Q4 and 2026 (meaningful group room revenues already on the books for 2026). Full-year CapEx was increased to roughly $90M (up $10M) driven by additional projects and a $9M investment to reconcept the W Nashville F&B under a Jose Andres Group partnership; Xenia expects the relaunch to add $3–5M of hotel EBITDA upon stabilization and to help the hotel generate in excess of $20M of hotel EBITDA in coming years. Management trimmed full-year RevPAR guidance modestly (midpoint down ~50 bps) and updated adjusted EBITDAre guidance to $254M at the midpoint; adjusted FFO/share midpoint is $1.01. Balance sheet remains conservative: ~$1.4B debt (25% variable), WAC ~4.2%, net debt/EBITDA ~4.5x, well-laddered maturities (W.A. duration 3.5 years). A quarterly dividend of $0.14 was declared (target payout ~50% of adjusted FFO) and the company has been actively repurchasing shares (1.8M YTD at $12.66 avg; $34.1M repurchase capacity remaining). Management is cautious near-term on transient/leisure but constructive on group-led growth and long-term prospects for the high-end, diversified portfolio into 2026.