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Xenia Hotels & Resorts prodaje Residence Inn Denver City Center

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Xenia Hotels & Resorts, Inc. today announced it has sold the 228-room Residence Inn Denver City Center in Denver, Colorado for a price of $92 million, or approximately $404,000 per key. The sale price represents a 12.8x multiple and a 7.1% capitalization rate on the hotel’s trailing twelve month Hotel EBITDA and net operating income as of November 30, 2018, respectively. The Company realized an unlevered IRR of 10.4% on this investment since acquiring the hotel for $80 million in 2013.

“We are pleased to have completed the sale of Residence Inn Denver City Center at an attractive valuation,” commented Marcel Verbaas, Xenia’s Chairman and Chief Executive Officer. “While we view Denver as a core market for the Company, our recent acquisition of The Ritz-Carlton allowed us to further reduce our select-service holdings through the sale of this hotel. We are excited to be able to maintain our exposure in a strong and dynamic lodging market through the ownership of The Ritz-Carlton, a true luxury asset, and our recently renovated Hotel Monaco, a high-quality upper upscale lifestyle hotel, both of which are closely aligned with our long-term investment strategy.”

Nakon završetka ove transakcije, portfelj Xenije sastoji se od 40 hotela ili odmarališta u potpunom vlasništvu, uključujući 12 luksuznih hotela ili odmarališta, što predstavlja 26% ukupnog broja soba tvrtke, 27 gornjih luksuznih hotela ili odmarališta, što predstavlja 72% ukupnog broja soba i jedan luksuzni hotel s produženim boravkom. Tijekom 2018. godine Xenia je završila gotovo 800 milijuna dolara transakcija, sastojeći se od četiri kupnje imovine u ukupnom iznosu od 361 milijun dolara, tri raspolaganja u ukupnom iznosu od 420 milijuna dolara i stjecanja udjela prethodnog partnera u Grand Bohemian Charlestonu i Grand Bohemian Mountain Brooku, za kombiniranu cijenu od približno 12 milijuna dolara.

“We have been able to successfully continue our portfolio evolution and improvement through the transactions we have completed this year,” said Mr. Verbaas. “With the acquisitions of The Ritz-Carlton, Denver, Fairmont Pittsburgh, Park Hyatt Aviara Resort, Golf Club & Spa, and Waldorf Astoria Atlanta Buckhead, we have added four unique and outstanding luxury assets which we have balanced through the sale of Aston Waikiki Beach Hotel, Hilton Garden Inn Washington D.C. Downtown and now Residence Inn Denver City Center. These portfolio changes have improved the average quality of our portfolio today and enhance the growth opportunities for the Company, as it relates to both revenue and profitability, in the years ahead.”

Prodaja Residence Inn Denver City Center dodatno je poboljšala profil poluge tvrtke. Pro forma za transakciju, neto dug prema EBITDA-i, kako je definirano neosiguranim kreditnim instrumentom Društva, procjenjuje se na 3.8x u odnosu na 4.2x na početku 2018. Prihod od prodaje koristit će se za opće korporativne svrhe mogu uključivati ​​otplatu duga, potencijalne akvizicije u skladu s dugoročnom strategijom Društva i otkupe dionica prema postojećem odobrenju Društva.