Xenia Hotels & Resorts (XHR) Q3 2025 earnings summary

Executive summary

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

• Third quarter net loss attributable to common stockholders was $13.7 million ($0.14 per share), compared to $7.1 million in Q3 2024, while year-to-date net income was $57.0 million ($0.57 per share), up from $16.8 million last year, driven by gains on property sales and improved hotel operating income.

• Recent portfolio evolution focused on higher quality assets, with strategic acquisitions and dispositions, including the sale of Fairmont Dallas and purchase of land at Hyatt Regency Santa Clara.

• Management team averages 31 years of industry experience and has navigated multiple downturns.

Financial highlights

• Q3 2025 total revenues were $236.4 million, nearly flat year-over-year; nine-month revenues rose 4.6% to $812.9 million.

• Q3 net loss attributable to common stockholders was $13.7 million ($0.14 per share); nine-month net income was $57.0 million ($0.57 per share).

• Adjusted EBITDAre for Q3 was $42.2 million (down 4.6% year-over-year); nine-month Adjusted EBITDAre was $194.7 million (up 9.4%).

• Adjusted FFO for Q3 was $22.2 million (down 15.1%); nine-month Adjusted FFO was $131.6 million (up 5.1%).

• Same-property RevPAR for Q3 was $164.50, flat year-over-year; year-to-date was $183.84, up 3.7%.

Outlook and guidance

• Full-year 2025 guidance: net income $59–$67 million, same-property RevPAR growth 3.5%–4.5%, Adjusted EBITDAre $250–$258 million, Adjusted FFO per diluted share $1.68–$1.76.

• Capital expenditures for 2025 expected at $87.5–$92.5 million, including final spend on Grand Hyatt Scottsdale renovation.

• Preliminary October RevPAR up 5.8% year-over-year; 2026 outlook anticipates continued ramp at Grand Hyatt Scottsdale and robust group demand.

• Management expects minimal revenue disruption from capital expenditures and remains cautious for Q4 due to macroeconomic uncertainty.