Xenia Hotels & Resorts, Inc. XHR
Xenia Hotels & Resorts, Inc. is a Maryland corporation that primarily invests in uniquely positioned luxury and upper upscale hotels and resorts with a focus on the top 25 lodging markets as well as key leisure destinations in the United States ("U.S.").
Substantially all of the Company's assets are held by, and all the operations are conducted through XHR LP (the "Operating Partnership"). XHR GP, Inc. is the sole general partner of the Operating Partnership and is wholly-owned by the Company. As of December 31, 2025, the Company collectively owned 94.4% of the common limited partnership units issued by the Operating Partnership ("Operating Partnership Units"). The remaining 5.6% of the Operating Partnership Units are owned by the other limited partners comprised of certain of our executive officers and current or former members of our Board of Directors and includes vested and unvested long-term incentive plan ("LTIP") partnership units. LTIP partnership units may or may not vest based on the passage of time and meeting certain market-based performance objectives.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.08B | $1.04B | $1.03B | $997.6M | $616.2M | $369.8M | $1.15B | $1.06B | $945.3M | $950.2M |
| Cost of revenue | $748.6M | $730.4M | $703.8M | $672.3M | $446.0M | $351.5M | $772.9M | $689.8M | $603.7M | $593.0M |
| Gross profit | $329.9M | $308.6M | $321.7M | $325.3M | $170.1M | $18.2M | $376.2M | $368.4M | $341.6M | $357.2M |
| SG&A | $36.8M | $36.2M | $37.2M | $34.2M | $30.6M | $30.0M | $30.7M | $30.5M | $31.6M | $31.4M |
| Total operating expenses | $971.0M | $952.2M | $927.8M | $886.2M | $677.1M | $611.5M | $1.04B | $926.4M | $841.7M | $838.7M |
| Operating income | $107.5M | $86.8M | $97.6M | $111.4M | -$60.9M | -$241.7M | $111.5M | $131.8M | $103.6M | $111.5M |
| Interest expense | $86.7M | $80.9M | $85.0M | $82.7M | $81.3M | $62.0M | $48.6M | $51.4M | $46.3M | $48.1M |
| Pre-tax income | $68.3M | $13.1M | $21.3M | $59.8M | -$145.9M | -$182.8M | $62.6M | $204.5M | $108.6M | $91.8M |
| Income tax | $1.4M | $3.7M | $1.4M | $2.2M | $718.0K | $15.9M | $5.4M | $6.0M | $7.8M | $5.1M |
| Net income | $63.1M | $16.1M | $19.1M | $55.9M | -$143.5M | -$163.3M | $55.4M | $193.7M | $98.9M | $86.7M |
| EPS, basic | 0.64 | 0.15 | 0.17 | 0.49 | -1.26 | -1.44 | 0.49 | 1.75 | — | — |
| EPS, diluted | 0.64 | 0.15 | 0.17 | 0.49 | -1.26 | -1.44 | 0.49 | 1.75 | 0.92 | 0.79 |
| Shares, diluted (wtd. avg.) | $97.2M | $102.3M | $108.4M | $114.4M | $113.8M | $113.5M | $112.9M | $110.4M | $107.0M | $108.1M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $140.4M | $78.2M | $164.7M | $365.9M | $554.2M | $428.8M | $194.9M | $161.6M | $130.4M | $287.0M |
| Goodwill | $4.8M | $4.8M | $4.8M | $4.8M | $4.8M | $4.8M | $25.0M | $34.4M | $39.8M | $42.1M |
| Other intangibles | $0 | $6.0K | $48.0K | $210.0K | $596.0K | $1.6M | $4.0M | $27.2M | $28.2M | $34.8M |
| Total assets | $2.81B | $2.83B | $2.90B | $3.08B | $3.09B | $3.08B | $3.26B | $3.17B | $3.12B | $2.86B |
| Long-term debt | $1.42B | $1.33B | $1.39B | $1.43B | $1.49B | $1.37B | $1.29B | $1.16B | $1.32B | $1.08B |
| Total liabilities | $1.63B | $1.55B | $1.58B | $1.62B | $1.65B | $1.51B | $1.49B | $1.32B | $1.47B | $1.21B |
| Retained earnings | -$670.4M | -$679.8M | -$647.2M | -$623.2M | -$656.5M | -$513.0M | -$318.4M | -$249.7M | -$321.0M | -$302.0M |
| Total equity | $1.13B | $1.24B | $1.32B | $1.46B | $1.44B | $1.57B | $1.78B | $1.85B | $1.65B | $1.65B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $176.5M | $163.7M | $198.1M | $187.1M | $40.8M | -$77.7M | $246.6M | $254.2M | $212.8M | $229.4M |
| Depreciation and amortisation | $130.7M | $128.7M | $131.8M | $132.1M | $128.3M | $143.9M | $152.3M | $154.3M | $148.9M | $150.0M |
| Stock-based compensation | $13.1M | $13.7M | $13.2M | $11.4M | $11.6M | $10.9M | $9.4M | $9.2M | $9.9M | $9.0M |
| Capital expenditure | $86.6M | $140.6M | $120.9M | $70.4M | $31.8M | $69.2M | $93.0M | $108.2M | $86.4M | $58.8M |
| Investing cash flow | -$7.1M | -$108.2M | -$118.8M | -$265.4M | -$24.2M | $254.2M | -$222.9M | -$49.8M | -$487.6M | $100.8M |
| Financing cash flow | -$89.9M | -$135.0M | -$222.2M | -$110.1M | $108.9M | $57.4M | $9.7M | -$173.2M | $118.1M | -$242.9M |
| Dividends paid | $575.0K | $351.0K | $578.0K | $627.0K | $54.0K | $63.2M | $125.9M | $121.7M | $118.4M | $115.1M |
| Buybacks | $120.4M | $15.8M | $132.7M | $28.2M | $0 | $2.3M | $0 | $0 | $4.1M | $74.0M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-011060.
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