Xenia Hotels & Resorts, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Xenia Hotels & Resorts, Inc. filed its Q1 2024 10-Q, providing a financial snapshot and comparative data.</b>

AI Summary

Xenia Hotels & Resorts, Inc. (XHR) filed a Quarterly Report (10-Q) with the SEC on May 3, 2024. Xenia Hotels & Resorts, Inc. filed its quarterly report on Form 10-Q for the period ended March 31, 2024. The filing covers the first quarter of fiscal year 2024. Key financial data from previous periods (December 31, 2023, and March 31, 2023) are referenced. The report includes details on various financial statement line items such as Common Stock, Additional Paid-In Capital, and Retained Earnings. Specific segments like Occupancy, Food & Beverage, and Hotel Other are detailed for comparative periods.

Why It Matters

For investors and stakeholders tracking Xenia Hotels & Resorts, Inc., this filing contains several important signals. This 10-Q filing provides investors with the latest financial performance and position of Xenia Hotels & Resorts, Inc. as of and for the quarter ended March 31, 2024. The inclusion of comparative data from prior periods allows for trend analysis and assessment of the company's financial trajectory in the hotel and lodging sector.

Risk Assessment

Risk Level: medium — Xenia Hotels & Resorts, Inc. shows moderate risk based on this filing. The filing is a standard 10-Q, which is a routine disclosure for public companies. However, the hotel industry can be sensitive to economic downturns and travel trends, which are not detailed in this header information.

Analyst Insight

Review the full 10-Q filing to understand the specific financial results, operational performance, and any forward-looking statements or risk factors disclosed by Xenia Hotels & Resorts, Inc. for Q1 2024.

Key Numbers

• 2024-03-31 — Report Period End Date (Conformed period of report)
• 2024-05-03 — Filing Date (Filed as of date)
• 2024-01-01 — Quarter Start Date (First quarter of fiscal year 2024)
• 2023-03-31 — Prior Year Quarter End Date (Comparative period)

Key Players & Entities

• Xenia Hotels & Resorts, Inc. (company) — Filer name
• 200 S. Orange Avenue, Suite 2700 (address) — Business and mailing address
• Orlando, FL (location) — Business and mailing address city and state
• 407-246-8100 (phone) — Business phone number

FAQ

Industry Context

Xenia Hotels & Resorts operates within the hotel and lodging industry, a sector that is typically sensitive to economic conditions, travel trends, and consumer spending.

Regulatory Implications

As a publicly traded company, Xenia Hotels & Resorts is subject to the reporting requirements of the U.S. Securities and Exchange Commission (SEC), including the filing of quarterly reports on Form 10-Q.

What Investors Should Do

1. Analyze the detailed financial statements within the 10-Q for revenue, net income, and balance sheet changes.
2. Review management's discussion and analysis (MD&A) for insights into operational performance and strategic initiatives.
3. Examine the risk factors section for any new or evolving risks that could impact the company's future performance.

Key Dates

• 2024-03-31: Quarterly Period End — The end date for the financial reporting period covered by the 10-Q.
• 2024-05-03: Filing Date — The date the 10-Q was officially filed with the SEC.

Year-Over-Year Comparison

This filing represents the first quarterly report for Xenia Hotels & Resorts in fiscal year 2024, providing updated financial information compared to the previous year's filings.

Filing Documents

• xhr-20240331.htm (10-Q) — 1080KB
• exhibit101xeniamarch312024.htm (EX-10.1) — 102KB
• exhibit102xeniamarch312024.htm (EX-10.2) — 155KB
• exhibit311_2024q1x10q.htm (EX-31.1) — 10KB
• exhibit312_2024q1x10q.htm (EX-31.2) — 10KB
• exhibit321_2024q1x10q.htm (EX-32.1) — 6KB
• 0001616000-24-000042.txt (&nbsp;) — 6779KB
• xhr-20240331.xsd (EX-101.SCH) — 51KB
• xhr-20240331_cal.xml (EX-101.CAL) — 71KB
• xhr-20240331_def.xml (EX-101.DEF) — 252KB
• xhr-20240331_lab.xml (EX-101.LAB) — 636KB
• xhr-20240331_pre.xml (EX-101.PRE) — 457KB
• xhr-20240331_htm.xml (XML) — 798KB

- Financial Information Page

Part I - Financial Information Page

Financial Statements (unaudited)

Item 1. Financial Statements (unaudited) Condensed Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023 1 Condensed Consolidated Statements of Operations and Comprehensive Income for the Three Months Ended March 31, 2024 and 2023 2 Condensed Consolidated Statements of Changes in Equity for the Three Months Ended March 31, 2024 and 2023 4 Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2024 and 2023 5 Notes to the Condensed Consolidated Financial Statements 7

Management's Discussion and Analysis of Financial Condition and Results of Operations 22

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 22

Quantitative and Qualitative Disclosures About Market Risk 34

Item 3. Quantitative and Qualitative Disclosures About Market Risk 34

Controls and Procedures 35

Item 4. Controls and Procedures 35

- Other Information

Part II - Other Information

Legal Proceedings 35

Item 1. Legal Proceedings 35

Risk Factors 35

Item 1A. Risk Factors 35

Unregistered Sales of Equity Securities and Use of Proceeds 35

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 35

Defaults Upon Senior Securities 36

Item 3. Defaults Upon Senior Securities 36

Mine Safety Disclosures 36

Item 4. Mine Safety Disclosures 36

Other Information 36

Item 5. Other Information 36

Exhibits 37

Item 6. Exhibits 37 Signatures 38

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements XENIA HOTELS & RESORTS, INC. Condensed Consolidated Balance Sheets As of March 31, 2024 and December 31, 2023 (Dollar amounts in thousands, except per share data) March 31, 2024 December 31, 2023 Assets: (Unaudited) (Audited) Investment properties: Land $ 460,272 $ 460,307 Buildings and other improvements 3,130,465 3,097,711 Total $ 3,590,737 $ 3,558,018 Less: accumulated depreciation ( 994,906 ) ( 963,052 ) Net investment properties $ 2,595,831 $ 2,594,966 Cash and cash equivalents 140,109 164,725 Restricted cash and escrows 56,847 58,350 Accounts and rents receivable, net of allowance for doubtful accounts 41,320 32,432 Intangible assets, net of accumulated amortization of $ 261 and $ 241 , respectively 4,878 4,898 Other assets 62,881 46,856 Total assets $ 2,901,866 $ 2,902,227 Liabilities: Debt, net of loan premiums, discounts and unamortized deferred financing costs (Note 4) $ 1,395,096 $ 1,394,906 Accounts payable and accrued expenses 106,470 102,389 Distributions payable 12,577 10,788 Other liabilities 75,684 76,647 Total liabilities $ 1,589,827 $ 1,584,730 Commitments and Contingencies (Note 11) Stockholders' equity: Common stock, $ 0.01 par value, 500,000,000 shares authorized, 101,963,677 and 102,372,589 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively $ 1,020 $ 1,024 Additional paid in capital 1,928,667 1,934,775 Accumulated other comprehensive income 3,481 2,439 Accumulated distributions in excess of net earnings ( 650,702 ) ( 647,246 ) Total Company stockholders' equity $ 1,282,466 $ 1,290,992 Non-controlling interests 29,573 26,505 Total equity $ 1,312,039 $ 1,317,497 Total liabilities and equity $ 2,901,866 $ 2,902,227 See accompanying notes to the condensed consolidated financial statements. 1 XENIA HOTELS & RESORTS, INC. Condensed Consolidated Statements of Operations and Comprehensive Income For the Three Months Ended March 31, 2024 an

View Full Filing

View this 10-Q filing on SEC EDGAR