Xenia Hotels & Resorts (XHR) Q1 2026 earnings summary

Executive summary

• Delivered strong Q1 2026 results, exceeding expectations across all key metrics, driven by robust group and transient demand, with record performance at Grand Hyatt Scottsdale Resort post-renovation.

• Operates 30 luxury and upper-upscale hotels (8,868 rooms) in top U.S. markets, with a balanced mix of group, business transient, and leisure demand.

• Portfolio is 100% brand-affiliated, with strong partnerships with leading hotel brands.

• Senior executive team averages 31 years of industry experience and has managed through multiple cycles.

• Recent capital projects, including Grand Hyatt Scottsdale and W Nashville, are driving growth and enhancing asset quality.

Financial highlights

• Q1 2026 net income was $19.8 million ($0.21 per share), up 40% year-over-year; Adjusted EBITDAre reached $81.4 million, up 11.6%; Adjusted FFO per share was $0.63, up 23.5%.

• Total revenues for Q1 2026 were $295.4 million, up from $288.9 million in Q1 2025.

• Same-property RevPAR grew 7.4% year-over-year to $205.93, with occupancy up 180 bps to 71.4% and ADR up 4.8% to $288.62.

• Same-property hotel EBITDA was $87.8 million, up 17.9% year-over-year, with margin expanding from 27% to 29.7%.

• Food and beverage revenues increased 6.2%; other revenues up nearly 11%.

Outlook and guidance

• Full-year 2026 guidance raised: Net income expected between $24–$40 million, Adjusted EBITDAre $258–$274 million, Adjusted FFO $178–$194 million, and Adjusted FFO per diluted share $1.86–$2.02.

• Same-property RevPAR growth forecasted at 2.75%–5.25% year-over-year; total RevPAR 3.75%–6.25%.

• Margin expansion now expected for the year; cost per occupied room to grow in mid-2% range.

• Group room revenue pace for May-Dec up ~6% year-over-year; second half group pace up ~9%.

• Renovation disruption expected to reduce Adjusted EBITDAre and Adjusted FFO by ~$1 million.