Xenia Hotels & Resorts, Inc. Reports Impairment Loss for the Second Quarter of 2021
August 03, 2021 at 04:00 pm IST
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Xenia Hotels & Resorts, Inc. reported Impairment Loss for the second quarter of 2021. During the second quarter, the Company began marketing Marriott Charleston Town Center for sale. As a result, the Company recorded a non-cash impairment charge of $12.3 million to reflect the estimated current market value.
Xenia Hotels & Resorts, Inc. is a self-advised and self-administered real estate investment trust (REIT) that invests in luxury and upper upscale hotels and resorts with a focus on the top 25 lodging markets as well as leisure destinations in the United States. The Company owns approximately 32 hotels and resorts comprising 9,514 rooms across 14 states. The Company's hotels are in the luxury and upper upscale segments, and are operated and/or licensed by Marriott, Hyatt, Kimpton, Fairmont, Loews, Hilton, The Kessler Collection, and Davidson. Its hotels include Andaz Napa; Andaz San Diego; Andaz Savannah; Bohemian Hotel Savannah Riverfront, Autograph Collection; Fairmont Dallas; Fairmont Pittsburgh; Grand Bohemian Hotel Charleston, Autograph Collection; Grand Bohemian Hotel Mountain Brook, Autograph Collection; Grand Bohemian Hotel Orlando, Autograph Collection; Hyatt Centric Key West Resort & Spa; Hyatt Regency Grand Cypress, and Hyatt Regency Portland at the Oregon Convention Center.