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Investing.com - Xenia Hotels & Resorts (NYSE:XHR) on Friday reported third quarter adjusted earnings of $0.23 per share, exceeding analyst estimates of $0.16, as the company navigated a challenging lodging environment with flat RevPAR growth compared to the same period last year.
Revenue remained stable at $236.4 million for the quarter, with Same-Property RevPAR holding steady at $164.50 compared to the third quarter of 2024. While occupancy decreased by 100 basis points to 66.3%, this was offset by a 1.6% increase in Average Daily Rate to $248.09.
Same-Property Total RevPAR showed more strength, rising 3.7% to $289.76, driven by an 8.3% increase in food and beverage revenues.
"Our third quarter performance met our expectations and reflected a challenging operating environment in the lodging industry as a whole, including muted leisure demand during the summer months," said Marcel Verbaas, Chair and Chief Executive Officer of Xenia.
"Despite these challenges, Same-Property RevPAR for the quarter was flat and, excluding our assets in Houston, increased 2.9%."
The company’s shares have been trading at $12.74, with the stock maintaining a 3.9% dividend yield. For the full year 2025, Xenia expects Same-Property RevPAR to increase by 4% and Adjusted EBITDAre to reach $254 million at the midpoint of its updated guidance.
The Houston market was particularly challenging, with RevPAR declining 21.2% YoY due to tough comparisons from a short-term demand lift from Hurricane Beryl in the third quarter of last year.
This was partially offset by strong performance in Phoenix, where RevPAR surged 123.2% as Grand Hyatt Scottsdale continued its post-renovation stabilization.
During the quarter, Xenia repurchased 974,645 shares of common stock at a weighted-average price of $12.66 per share for approximately $12.3 million, demonstrating confidence in its long-term outlook despite near-term challenges.
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