Xenia Hotels & Resorts, Inc. Announces Impairment Charges for the Fourth Quarter of 2019; Announces Earnings Guidance for 2020
February 24, 2020 at 04:30 pm EST
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Xenia Hotels & Resorts, Inc. announced impairment charges for the fourth quarter of 2019. During the quarter, the company recorded a non-cash goodwill impairment charge of $9.4 million.
For the year, the company expects net income in the range of $81 million to $97 million.
Xenia Hotels & Resorts, Inc. is a self-advised and self-administered real estate investment trust (REIT) that invests in luxury and upper upscale hotels and resorts with a focus on the top 25 lodging markets as well as leisure destinations in the United States. The Company owns approximately 32 hotels and resorts comprising 9,514 rooms across 14 states. The Company's hotels are in the luxury and upper upscale segments, and are operated and/or licensed by Marriott, Hyatt, Kimpton, Fairmont, Loews, Hilton, The Kessler Collection, and Davidson. Its hotels include Andaz Napa; Andaz San Diego; Andaz Savannah; Bohemian Hotel Savannah Riverfront, Autograph Collection; Fairmont Dallas; Fairmont Pittsburgh; Grand Bohemian Hotel Charleston, Autograph Collection; Grand Bohemian Hotel Mountain Brook, Autograph Collection; Grand Bohemian Hotel Orlando, Autograph Collection; Hyatt Centric Key West Resort & Spa; Hyatt Regency Grand Cypress, and Hyatt Regency Portland at the Oregon Convention Center.