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ORLANDO - Xenia Hotels & Resorts Inc . (NYSE:XHR) lowered its full-year outlook, despite reporting better-than-expected first quarter results.
The company’s shares plunged -18.56% in premarket trading after the hotel real estate investment trust’s earnings release.
The company posted Q1 adjusted earnings per share of $0.15, surpassing analyst estimates of $0.10. Revenue came in at $288.93 million, also topping expectations of $277.38 million.
However, Xenia reduced its full-year 2025 guidance, now projecting adjusted EBITDAre of $235-261 million, down from its previous forecast of $244-264 million. The company cited a "more tempered view of the remainder of the year" due to heightened macroeconomic uncertainty over the last two months.
"While we believe we are well-positioned to weather various economic environments, with a curated portfolio, strong balance sheet, and nimble management team, we have prudently reduced both our G&A and capital expenditure expenses," said Marcel Verbaas, Chair and CEO of Xenia.
The company’s same-property RevPAR increased 6.3% year-over-year to $188.73 in Q1. Occupancy rose 180 basis points to 69.3%, while average daily rate grew 3.6% to $272.41.
Xenia completed the $25 million acquisition of the land underlying Hyatt Regency Santa Clara in March. The company also repurchased 2.7 million shares during the quarter at an average price of $13.09 per share.
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