Xenia Hotels & Resorts, Inc. reported a total revenue of $295.4 million for the first quarter of 2026, reflecting a 2.2% increase from $288.9 million in the same period of 2025. The growth was primarily driven by a rise in rooms revenue, which increased by 2.8% to $164.4 million, and a 6.9% increase in other revenues, totaling $26.0 million. The company’s net income for the quarter was $21.2 million, a 28.5% increase compared to $16.5 million in the prior year, attributed to improved hotel operating income and reduced depreciation and interest expenses.
In terms of operational metrics, Xenia's revenue per available room (RevPAR) increased by 9.1% to $205.93, supported by a 1.4% rise in occupancy and a 6.0% increase in average daily rate (ADR). The company maintained a portfolio of 30 hotels with a total of 8,868 rooms as of March 31, 2026, consistent with the previous year. The company’s total hotel operating expenses remained stable at $195.6 million, slightly up from $195.5 million, reflecting the impact of increased occupancy and operational growth at properties like the Grand Hyatt Scottsdale Resort.
Strategically, Xenia has focused on optimizing its asset portfolio, having sold the Fairmont Dallas in April 2025, which contributed to a reduction in hotel operating income. The company also repaid $58.1 million in mortgage debt during the quarter, reducing its total debt to $1.4 billion with a weighted-average interest rate of 5.53%. As of March 31, 2026, Xenia had $101.1 million in cash and cash equivalents, alongside $78.5 million in restricted cash, providing a solid liquidity position to support ongoing operations and potential acquisitions.
Looking ahead, Xenia's management expressed cautious optimism regarding the lodging market, noting that demand increased by 2.0% in the first quarter of 2026, while new hotel supply grew by only 0.6%. The company plans to leverage its strong cash position and operational improvements to enhance shareholder returns, with a focus on maximizing revenue and profits from existing properties. However, management acknowledged potential risks from macroeconomic factors, including inflation and changing interest rates, which could impact future performance.
About Xenia Hotels & Resorts, Inc.
Xenia Hotels & Resorts, Inc. is a REIT investing in luxury and upper upscale hotels across key U.S. markets. It owns properties leased to third-party managers, focusing on distinctive locations and brand affiliations. The company emphasizes proactive asset management, strategic capital investments, and flexible financing to generate attractive risk-adjusted returns in the competitive hospitality industry.
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