Xenia Hotels & Resorts Q2 2024 10-Q Filed
Ticker: XHR · Form: 10-Q · Filed: Aug 2, 2024 · CIK: 1616000
Sentiment: neutral
Topics: 10-Q, financials, hospitality
TL;DR
Xenia Hotels Q2 10-Q is in, showing performance data vs last year.
AI Summary
Xenia Hotels & Resorts, Inc. filed its 10-Q for the period ending June 30, 2024. The filing details financial performance for the second quarter and the first half of the year, including revenue from hotel operations and other segments. Specific figures for occupancy, food and beverage, and other hotel-related income are provided for the comparative periods of 2024 and 2023.
Why It Matters
This filing provides investors with a detailed look at Xenia Hotels & Resorts' financial health and operational performance during the second quarter of 2024, impacting investment decisions.
Risk Assessment
Risk Level: medium — The filing is a standard quarterly report, but the hospitality sector can be sensitive to economic fluctuations.
Key Numbers
- 2024 Q2 — Reporting Period (Financial performance for the second quarter of 2024 is detailed.)
- 2024-01-01 to 2024-06-30 — Year-to-Date Period (Financial performance for the first half of 2024 is detailed.)
- 2023-04-01 to 2023-06-30 — Prior Year Q2 Period (Comparative data for the second quarter of 2023.)
- 2023-01-01 to 2023-06-30 — Prior Year YTD Period (Comparative data for the first half of 2023.)
Key Players & Entities
- Xenia Hotels & Resorts, Inc. (company) — Filer
- 200 S. ORANGE AVENUE, SUITE 2700 (location) — Business Address
- ORLANDO, FL 32801 (location) — Business Address
- 20240630 (date) — Period of Report
- 20240802 (date) — Filing Date
FAQ
What were the key revenue drivers for Xenia Hotels & Resorts in Q2 2024?
The filing details revenue from 'us-gaap:FoodAndBeverageMember', 'us-gaap:HotelOtherMember', and 'us-gaap:OccupancyMember' for the period.
How does Xenia's Q2 2024 performance compare to Q2 2023?
The 10-Q provides comparative data for occupancy, food and beverage, and other hotel revenues between the Q2 2024 and Q2 2023 periods.
What is the fiscal year-end for Xenia Hotels & Resorts?
The fiscal year end for Xenia Hotels & Resorts is December 31st.
What is the company's primary business classification?
Xenia Hotels & Resorts is classified under 'HOTELS & MOTELS [7011]'.
When was this 10-Q filing submitted?
This 10-Q filing was submitted on August 2, 2024.
Filing Stats: 4,742 words · 19 min read · ~16 pages · Grade level 17.5 · Accepted 2024-08-02 16:18:42
Filing Documents
- xhr-20240630.htm (10-Q) — 1405KB
- exhibit311_2024q2x10q.htm (EX-31.1) — 10KB
- exhibit312_2024q2x10q.htm (EX-31.2) — 10KB
- exhibit321_2024q2x10q.htm (EX-32.1) — 6KB
- 0001616000-24-000073.txt ( ) — 7598KB
- xhr-20240630.xsd (EX-101.SCH) — 57KB
- xhr-20240630_cal.xml (EX-101.CAL) — 82KB
- xhr-20240630_def.xml (EX-101.DEF) — 296KB
- xhr-20240630_lab.xml (EX-101.LAB) — 712KB
- xhr-20240630_pre.xml (EX-101.PRE) — 513KB
- xhr-20240630_htm.xml (XML) — 970KB
- Financial Information Page
Part I - Financial Information Page
Financial Statements (unaudited)
Item 1. Financial Statements (unaudited) Condensed Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023 1 Condensed Consolidated Statements of Operations and Comprehensive Income for the Three and Six Months Ended June 30, 2024 and 2023 2 Condensed Consolidated Statements of Changes in Equity for the Three and Six Months Ended June 30, 2024 and 2023 4 Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2024 and 2023 6 Notes to the Condensed Consolidated Financial Statements 8
Management's Discussion and Analysis of Financial Condition and Results of Operations 24
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 24
Quantitative and Qualitative Disclosures About Market Risk 37
Item 3. Quantitative and Qualitative Disclosures About Market Risk 37
Controls and Procedures 38
Item 4. Controls and Procedures 38
- Other Information
Part II - Other Information
Legal Proceedings 38
Item 1. Legal Proceedings 38
Risk Factors 38
Item 1A. Risk Factors 38
Unregistered Sales of Equity Securities and Use of Proceeds 38
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 38
Defaults Upon Senior Securities 39
Item 3. Defaults Upon Senior Securities 39
Mine Safety Disclosures 39
Item 4. Mine Safety Disclosures 39
Other Information 39
Item 5. Other Information 39
Exhibits 40
Item 6. Exhibits 40 Signatures 41
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements XENIA HOTELS & RESORTS, INC. Condensed Consolidated Balance Sheets As of June 30, 2024 and December 31, 2023 (Dollar amounts in thousands, except per share data) June 30, 2024 December 31, 2023 Assets: (Unaudited) (Audited) Investment properties: Land $ 455,907 $ 460,307 Buildings and other improvements 3,128,031 3,097,711 Total $ 3,583,938 $ 3,558,018 Less: accumulated depreciation ( 1,012,425 ) ( 963,052 ) Net investment properties $ 2,571,513 $ 2,594,966 Cash and cash equivalents 143,612 164,725 Restricted cash and escrows 61,490 58,350 Accounts and rents receivable, net of allowance for doubtful accounts 34,661 32,432 Intangible assets, net of accumulated amortization of $ 269 and $ 241 , respectively 4,870 4,898 Deferred tax assets (Note 8) 5,041 — Other assets 57,516 46,856 Assets held for sale (Note 4) 28,034 — Total assets $ 2,906,737 $ 2,902,227 Liabilities: Debt, net of loan premiums, discounts and unamortized deferred financing costs (Note 5) $ 1,395,324 $ 1,394,906 Accounts payable and accrued expenses 106,016 102,389 Distributions payable 12,607 10,788 Other liabilities 71,764 76,647 Liabilities associated with assets held for sale (Note 4) 1,034 — Total liabilities $ 1,586,745 $ 1,584,730 Commitments and Contingencies (Note 12) 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 June 30, 2024 and December 31, 2023, respectively $ 1,020 $ 1,024 Additional paid in capital 1,929,304 1,934,775 Accumulated other comprehensive income 3,068 2,439 Accumulated distributions in excess of net earnings ( 647,658 ) ( 647,246 ) Total Company stockholders' equity $ 1,285,734 $ 1,290,992 Non-controlling interests 34,258 26,505 Total equity $ 1,319,992 $ 1,317,497 Total liabilities and equity $ 2,906,737 $ 2,902,227 See accompanying notes to the condensed consolidated financial statements. 1 XENIA H