Xenia Hotels & Resorts Sells Four US Hotels

Xenia Hotels & Resorts said pre-market Friday it has sold four hotels in the US for a combined $119 million.

Specifically, the real estate investment trust sold the Homewood Suites by Hilton Houston Near the Galleria, the Hampton Inn & Suites Denver Downtown, the Hilton Garden Inn Chicago North Shore/Evanston and the Hilton St. Louis Downtown.

CEO Marcel Verbaas said “these four hotels were projected to achieve a combined revenue per available room of approximately $115 and EBITDA per key of approximately $16,000 in 2016, with both measures significantly lagging the remainder of our portfolio.” The company said it will use the proceeds for general corporate purposes.

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