Xenia Hotels Swings to a Q2 Loss on Impairment, Yet Lifts Full-Year Outlook on Strong RevPAR

summarizeSummary

A $38.8M impairment on a hotel sold in July drove Xenia Hotels to a Q2 net loss of $20.7M, but the company raised its full-year guidance on strong RevPAR and Adjusted EBITDAre growth.

check_boxKey Events · Earnings and Guidance · XHR

• Q2 Net Loss Driven by Impairment

  A $38.8M non-cash impairment on the Kimpton RiverPlace Hotel—sold in July for $10.3M—drove a net loss of $20.7M ($0.21/share), compared with net income of $58.6M a year ago.

• Full-Year Guidance Raised

  Management lifted its 2026 outlook: RevPAR growth is now 5.5%-7.5% (up from 4.0%-6.5%), Adjusted EBITDAre is $310M-$330M (from $295M-$320M), and Adjusted FFO/share is $2.30-$2.50 (from $2.15-$2.40).

• Strong Operating Metrics

  Q2 RevPAR rose 7.3% to $206.54, fueled by a 7.1% increase in ADR and a 10-basis-point occupancy gain. Same-property Hotel EBITDA margin came in at 28.7%, down 80 bps year-over-year but still healthy.

• Balance Sheet and Liquidity

  Cash stands at $112.4M, with no borrowings on the $500M revolver and $200M available under the ATM program. Total debt is $1.37B at a 5.49% weighted-average rate, and there are no near-term maturities.

auto_awesomeAnalysis · XHR · Real Estate & Construction

A $38.8 million non-cash impairment on the Kimpton RiverPlace Hotel pushed Xenia Hotels to a Q2 net loss of $20.7 million, with the property later sold in July for just $10.3 million. Despite that accounting hit, the company raised its full-year guidance across the board—RevPAR growth, Adjusted EBITDAre, and Adjusted FFO per share—pointing to robust demand and the ongoing ramp-up at the renovated Grand Hyatt Scottsdale. The impairment is a one-time charge; the upgraded outlook signals that management sees genuine operating momentum. Shedding the underperforming Portland asset removes a drag, and the balance sheet remains solid with $112 million in cash and full availability on a $500 million revolver.