AG真人官方

Three Months Ended June 30,

2025

2024

Change

($ amounts in thousands, except hotel statistics and per share amounts)

Net income attributable to common stockholders

$听听听听听听听听听听听听听听 55,157

$听听听听听听听听听听听听听听 15,338

259.6听%

Net income per share available to common stockholders - basic and diluted

$听听听听听听听听听听听听听听听听听听 0.56

$听听听听听听听听听听听听听听听听听听 0.15

273.3听%

Same-Property Number of Hotels⁽¹⁾

30

30

鈥�

Same-Property Number of Rooms⁽¹⁾⁽⁶⁾

8,868

8,863

5

Same-Property Occupancy⁽¹⁾

72.3听%

70.9听%

听听听听听听听听听听听听听听听听听听 140 听bps

Same-Property Average Daily Rate⁽¹⁾

$听听听听听听听听听听听听听听 270.42

$听听听听听听听听听听听听听听 265.16

2.0听%

Same-Property RevPAR⁽¹⁾

$听听听听听听听听听听听听听听 195.51

$听听听听听听听听听听听听听听 187.95

4.0听%

Same-Property Total RevPAR⁽¹⁾⁽²⁾

$听听听听听听听听听听听听听听 354.50

$听听听听听听听听听听听听听听 319.44

11.0听%

Same-Property Hotel EBITDA⁽¹⁾⁽³⁾

$听听听听听听听听听听听听听听 84,027

$听听听听听听听听听听听听听听 68,747

22.2听%

Same-Property Hotel EBITDA Margin⁽¹⁾⁽³⁾

29.4听%

26.7听%

听听听听听听听听听听听听听听听听听听 269 听bps

Total Portfolio Number of Hotels⁽⁴⁾

30

32

(2)

Total Portfolio Number of Rooms⁽⁴⁾⁽⁶⁾

8,868

9,515

(647)

Total Portfolio RevPAR⁽⁵⁾

$听听听听听听听听听听听听听听 192.51

$听听听听听听听听听听听听听听 185.69

3.7听%

Adjusted EBITDAre⁽³⁾

$听听听听听听听听听听听听听听 79,543

$听听听听听听听听听听听听听听 68,417

16.3听%

Adjusted FFO⁽³⁾

$听听听听听听听听听听听听听听 57,406

$听听听听听听听听听听听听听听 53,700

6.9听%

Adjusted FFO per diluted share⁽³⁾

$听听听听听听听听听听听听听听听听听听 0.57

$听听听听听听听听听听听听听听听听听听 0.52

9.6听%

1.

"Same-Property" includes all hotels owned as of June 30, 2025 and also includes renovation disruption for multiple capital projects during the periods presented.

2.

Total Revenues per available room for the period presented.

3.

EBITDA,听EBITDAre, Adjusted EBITDAre, FFO, Adjusted FFO, and Same-Property Hotel EBITDA and Hotel EBITDA Margin are non-GAAP financial measures. See definitions and tables later in this press release for how we define these non-GAAP financial measures and for reconciliations from net income to Earnings Before Interest, Taxes, Depreciation and Amortization ("EBITDA"), EBITDA for AG真人官方 Estate ("EBITDAre"), Adjusted EBITDAre, Funds From Operations ("FFO"), Adjusted FFO, Same-Property Hotel EBITDA and Hotel EBITDA Margin.

4.

As of end of periods presented.

5.

Results of all hotels as owned during the periods presented, including the results of hotels sold or acquired for the actual period of ownership by the Company.

6.

Five rooms were added to inventory at Grand听Hyatt Scottsdale Resort in the first quarter 2025.

Six Months Ended June 30,

2025

2024

Change

($ amounts in thousands, except hotel statistics and per share amounts)

Net income attributable to common stockholders

$听听听听听听听听听听听听听听 70,742

$听听听听听听听听听听听听听听 23,872

196.3听%

Net income per share available to common stockholders - basic and diluted

$听听听听听听听听听听听听听听听听听听听 0.71

$听听听听听听听听听听听听听听听听听听听 0.23

208.7听%

Same-Property Number of Hotels⁽¹⁾

30

30

鈥�

Same-Property Number of Rooms⁽¹⁾⁽⁶⁾

8,868

8,863

5

Same-Property Occupancy⁽¹⁾

71.0听%

69.2听%

听听听听听听听听听听听听听听听听听听 180 听bps

Same-Property Average Daily Rate⁽¹⁾

$听听听听听听听听听听听听听听 272.88

$听听听听听听听听听听听听听听 265.64

2.7听%

Same-Property RevPAR⁽¹⁾

$听听听听听听听听听听听听听听 193.66

$听听听听听听听听听听听听听听 183.82

5.4听%

Same-Property Total RevPAR⁽¹⁾⁽²⁾

$听听听听听听听听听听听听听听 349.85

$听听听听听听听听听听听听听听 316.07

10.7听%

Same-Property Hotel EBITDA⁽¹⁾⁽³⁾

$听听听听听听听听听听听听 158,477

$听听听听听听听听听听听听 135,874

16.6听%

Same-Property Hotel EBITDA Margin⁽¹⁾⁽³⁾

28.2听%

26.7听%

听听听听听听听听听听听听听听听听听听 157 听bps

Total Portfolio Number of Hotels⁽⁴⁾

30

32

(2)

Total Portfolio Number of Rooms⁽⁴⁾⁽⁶⁾

8,868

9,515

(647)

Total Portfolio RevPAR⁽⁵⁾

$听听听听听听听听听听听听听听 190.59

$听听听听听听听听听听听听听听 181.28

5.1听%

Adjusted EBITDAre⁽³⁾

$听听听听听听听听听听听听 152,485

$听听听听听听听听听听听听 133,668

14.1听%

Adjusted FFO⁽³⁾

$听听听听听听听听听听听听 109,466

$听听听听听听听听听听听听听听 99,198

10.4听%

Adjusted FFO per diluted share⁽³⁾

$听听听听听听听听听听听听听听听听听听听 1.08

$听听听听听听听听听听听听听听听听听听听 0.95

13.7听%

1.

"Same-Property" includes all hotels owned as of June 30, 2025 and also includes renovation disruption for multiple capital projects during the periods presented.

2.

Total Revenues per available room for the period presented.

3.

EBITDA,听EBITDAre, Adjusted EBITDAre, FFO, Adjusted FFO, and Same-Property Hotel EBITDA and Hotel EBITDA Margin are non-GAAP financial measures. See definitions and tables later in this press release for how we define these non-GAAP financial measures and for reconciliations from net income to Earnings Before Interest, Taxes, Depreciation and Amortization ("EBITDA"), EBITDA for AG真人官方 Estate ("EBITDAre"), Adjusted EBITDAre, Funds From Operations ("FFO"), Adjusted FFO, Same-Property Hotel EBITDA and Hotel EBITDA Margin.

4.

As of end of periods presented.

5.

Results of all hotels as owned during the periods presented, including the results of hotels sold or acquired for the actual period of ownership by the Company.

6.

Five rooms were added to inventory at Grand听Hyatt Scottsdale Resort in the first quarter 2025.

Current Full Year 2025
Guidance

Variance to Prior
Guidance

Low End

High End

Low End

High End

($ in millions, except stats and per share data)

Net Income

$58

$72

$15

$3

Same-Property (30 Hotel) RevPAR Change (vs. 2024)

3.50听%

5.50听%

1.00听%

(1.00)听%

Adjusted EBITDAre

$249

$263

$14

$2

Adjusted FFO

$166

$180

$14

$2

Adjusted FFO per Diluted Share

$1.66

$1.80

$0.16

$0.05

Capital Expenditures

$75

$85

$鈥�

$鈥�

Xenia Hotels & Resorts, Inc.
Condensed Consolidated Balance Sheets
As of June 30, 2025 and December 31, 2024
($ amounts in thousands, except per share data)

June 30, 2025

December 31, 2024

Assets:

(Unaudited)

Investment properties:

Land

$听听听听听听听听听听听听听听听听听听听听听 472,648

$听听听听听听听听听听听听听听听听听听听 455,907

Buildings and other improvements

3,140,539

3,188,885

Total

$听听听听听听听听听听听听听听听听听听 3,613,187

$听听听听听听听听听听听听听听听听 3,644,792

Less: accumulated depreciation

(1,088,910)

(1,053,971)

Net investment properties

$听听听听听听听听听听听听听听听听听听 2,524,277

$听听听听听听听听听听听听听听听听 2,590,821

Cash and cash equivalents

172,609

78,201

Restricted cash and escrows

78,384

65,381

Accounts and rents receivable, net of allowance for doubtful accounts

35,592

25,758

Intangible assets, net of accumulated amortization

4,853

4,856

Deferred tax assets

5,171

5,345

Other assets

54,201

61,254

Total assets

$听听听听听听听听听听听听听听听听听听 2,875,087

$听听听听听听听听听听听听听听听听 2,831,616

Liabilities:

Debt, net of loan premiums, discounts and unamortized deferred financing costs

$听听听听听听听听听听听听听听听听听听 1,423,681

$听听听听听听听听听听听听听听听听 1,334,703

Accounts payable and accrued expenses

96,683

102,896

Distributions payable

13,994

12,566

Other liabilities

78,780

101,118

Total liabilities

$听听听听听听听听听听听听听听听听听听 1,613,138

$听听听听听听听听听听听听听听听听 1,551,283

Commitments and Contingencies

Stockholders' equity:

Common stock, $0.01 par value, 500,000,000 shares authorized, 95,780,393 and 101,310,135 shares issued and outstanding as of June听30, 2025 and December 31, 2024, respectively

$听听听听听听听听听听听听听听听听听听听听听听听听听听听听听 958

$听听听听听听听听听听听听听听听听听听听听听听听 1,013

Additional paid in capital

1,851,433

1,921,006

Accumulated other comprehensive income

274

925

Accumulated distributions in excess of net earnings

(636,480)

(679,841)

Total Company stockholders' equity

$听听听听听听听听听听听听听听听听听听 1,216,185

$听听听听听听听听听听听听听听听听 1,243,103

Non-controlling interests

45,764

37,230

Total equity

$听听听听听听听听听听听听听听听听听听 1,261,949

$听听听听听听听听听听听听听听听听 1,280,333

Total liabilities and equity

$听听听听听听听听听听听听听听听听听听 2,875,087

$听听听听听听听听听听听听听听听听 2,831,616

Xenia Hotels & Resorts, Inc.
Condensed Consolidated Statements of Operations and Comprehensive Income
For the Three and Six Months Ended June 30, 2025 and 2024
(Unaudited)听
($ amounts in thousands, except per share data)

Six Months Ended June 30,

2025

2024

2025

2024

Revenues:

Rooms revenues

$听听听听听听听听听听听听听听 158,497

$听听听听听听听听听听听 160,786

$听听听听听听听听听听听听 318,363

$听听听听听听听 313,910

Food and beverage revenues

102,186

89,080

206,885

181,853

Other revenues

26,896

23,038

51,258

44,629

Total revenues

$听听听听听听听听听听听听听听 287,579

$听听听听听听听听听听听 272,904

$听听听听听听听听听听听听 576,506

$听听听听听听听 540,392

Expenses:

Rooms expenses

39,156

39,028

78,478

77,221

Food and beverage expenses

65,626

60,634

132,153

121,114

Other direct expenses

7,338

6,757

14,059

12,844

Other indirect expenses

68,674

69,749

139,687

137,382

Management and franchise fees

10,156

9,651

22,120

20,284

Total hotel operating expenses

$听听听听听听听听听听听听听听 190,950

$听听听听听听听听听听听 185,819

$听听听听听听听听听听听听 386,497

$听听听听听听听 368,845

Depreciation and amortization

32,631

31,823

65,823

63,787

AG真人官方 estate taxes, personal property taxes and insurance

11,928

13,340

25,657

26,833

Ground lease expense

527

837

1,358

1,623

General and administrative expenses

10,822

10,341

19,733

20,599

Gain on business interruption insurance

鈥�

鈥�

鈥�

(745)

Other operating expenses

224

377

1,077

1,207

Impairment and other losses

279

100

279

350

Total expenses

$听听听听听听听听听听听听听听 247,361

$听听听听听听听听听听听 242,637

$听听听听听听听听听听听听 500,424

$听听听听听听听 482,499

Operating income

$听听听听听听听听听听听听听听听听 40,218

$听听听听听听听听听听听听听 30,267

$听听听听听听听听听听听听听听 76,082

$听听听听听听听听听 57,893

Gain on sale of investment properties

39,953

鈥�

39,953

鈥�

Other income

1,695

1,945

4,259

4,372

Interest expense

(21,926)

(20,245)

(42,977)

(40,603)

Net income before income taxes

$听听听听听听听听听听听听听听听听 59,940

$听听听听听听听听听听听听听 11,967

$听听听听听听听听听听听听听听 77,317

$听听听听听听听听听 21,662

Income tax (expense) benefit

(1,379)

4,146

(2,249)

3,418

Net income

$听听听听听听听听听听听听听听听听 58,561

$听听听听听听听听听听听听听 16,113

$听听听听听听听听听听听听听听 75,068

$听听听听听听听听听 25,080

Net income attributable to non-controlling interests

(3,404)

(775)

(4,326)

(1,208)

Net income attributable to common stockholders

$听听听听听听听听听听听听听听听听 55,157

$听听听听听听听听听听听听听 15,338

$听听听听听听听听听听听听听听 70,742

$听听听听听听听听听 23,872

Xenia Hotels & Resorts, Inc.
Condensed Consolidated Statements of Operations and Comprehensive Income - Continued听
For the Three and Six Months Ended June 30, 2025 and 2024
(Unaudited)
($ amounts in thousands, except per share data)

Three Months Ended June 30,

Six Months Ended June 30,

2025

2024

2025

2024

Basic and diluted income per share:

Net income per share available to common stockholders - basic and diluted

$听听听听听听听听听听听听听听 0.56

$听听听听听听听听听听听听听听 0.15

$听听听听听听听听听听听听听听 0.71

$听听听听听听听听听听听听听听 0.23

Weighted-average number of common shares (basic)

97,690,231

101,963,677

99,171,413

101,961,559

Weighted-average number of common shares (diluted)

98,082,028

102,348,982

99,592,741

102,357,116

Comprehensive income:

Net income

$听听听听听听听听听听 58,561

$听听听听听听听听听听 16,113

$听听听听听听听听听听 75,068

$听听听听听听听听听听 25,080

Other comprehensive income:

Unrealized gain (loss) on interest rate derivative instruments

(14)

694

(238)

2,953

Reclassification adjustment for amounts recognized in net income (interest expense)

(153)

(1,128)

(438)

(2,260)

$听听听听听听听听听听 58,394

$听听听听听听听听听听 15,679

$听听听听听听听听听听 74,392

$听听听听听听听听听听 25,773

Comprehensive income attributable to non-controlling interests

(3,395)

(754)

(4,301)

(1,272)

Comprehensive income attributable to the Company

$听听听听听听听听听听 54,999

$听听听听听听听听听听 14,925

$听听听听听听听听听听 70,091

$听听听听听听听听听听 24,501

Xenia Hotels & Resorts, Inc.
Reconciliation of Net Income to EBITDA, EBITDAre, Adjusted EBITDAre and Same-Property Hotel EBITDA
For the Three Months Ended June 30, 2025 and 2024
(Unaudited)
($ amounts in thousands)

Three Months Ended June 30,

2025

2024

Net income

$听听听听听听听听听听听听听听听听听听听听 58,561

$听听听听听听听听听听听听听听听听 16,113

Adjustments:

Interest expense

21,926

20,245

Income tax expense (benefit)

1,379

(4,146)

Depreciation and amortization

32,631

31,823

EBITDA

$听听听听听听听听听听听听听听听听听听 114,497

$听听听听听听听听听听听听听听听听 64,035

Impairment of investment properties

279

鈥�

Gain on sale of investment properties

(39,953)

鈥�

EBITDAre

$听听听听听听听听听听听听听听听听听听听听 74,823

$听听听听听听听听听听听听听听听听 64,035

Reconciliation to Adjusted EBITDAre

Depreciation and amortization related to corporate assets

$听听听听听听听听听听听听听听听听听听听听听听听听听听 (44)

$听听听听听听听听听听听听听听听听听听听听听听 (83)

Gain on insurance recoveries⁽¹⁾

鈥�

(437)

Amortization of share-based compensation expense

4,579

4,675

Non-cash ground rent and straight-line rent expense

2

(129)

Other non-recurring expenses⁽²⁾

183

356

Adjusted EBITDAre attributable to common stock and unit holders

$听听听听听听听听听听听听听听听听听听听听 79,543

$听听听听听听听听听听听听听听听听 68,417

Corporate-level costs and expenses

5,416

5,284

Pro forma hotel adjustments, net⁽³⁾

(932)

(4,954)

Same-Property Hotel EBITDA attributable to common stock and unit holders⁽⁴⁾

$听听听听听听听听听听听听听听听听听听听听 84,027

$听听听听听听听听听听听听听听听听 68,747

1.

During the three months ended June 30, 2024, the Company recorded $0.4 million of insurance proceeds in excess of recognized losses related to casualty losses at certain properties. These amounts are included in other income on the condensed consolidated statements of operations and comprehensive income for the period then ended.

2.

During the three months ended June 30, 2024, the Company recognized $0.3 million of pre-opening expenses and recognized $0.1 million of repair and clean up costs related to damage sustained at one property.

3.

Includes adjustments for revenues and expenses from hotels that were acquired or sold during the periods presented.

4.

See the reconciliation of Total Revenues and Total Hotel Operating Expenses on a consolidated GAAP basis to Total Same-Property Revenues and Total Same-Property Hotel Operating Expenses and the calculation of Same-Property Hotel EBITDA and Hotel EBITDA Margin for the three months ended June 30, 2025 and 2024 on page 20.

Xenia Hotels & Resorts, Inc.
Reconciliation of Net Income to EBITDA, EBITDAre, Adjusted EBITDAre and Same-Property Hotel EBITDA
For the Six Months Ended June 30, 2025 and 2024
(Unaudited)
($ amounts in thousands)

Six Months Ended June 30,

2025

2024

Net income

$听听听听听听听听听听听听听听听 75,068

$听听听听听听听听听听听听听听听 25,080

Adjustments:

Interest expense

42,977

40,603

Income tax expense (benefit)

2,249

(3,418)

Depreciation and amortization

65,823

63,787

EBITDA

$听听听听听听听听听听听听听 186,117

$听听听听听听听听听听听听听 126,052

Impairment of investment properties

279

鈥�

Gain on sale of investment properties

(39,953)

鈥�

EBITDAre

$听听听听听听听听听听听听听 146,443

$听听听听听听听听听听听听听 126,052

Reconciliation to Adjusted EBITDAre

Depreciation and amortization related to corporate assets

$听听听听听听听听听听听听听听听听听听 (127)

$听听听听听听听听听听听听听听听听听听 (163)

Gain on insurance recoveries⁽¹⁾

(548)

(1,447)

Amortization of share-based compensation expense

7,205

8,572

Non-cash ground rent and straight-line rent expense

(11)

(267)

Other non-recurring expenses⁽²⁾

(477)

921

Adjusted EBITDAre attributable to common stock and unit holders

$听听听听听听听听听听听听听 152,485

$听听听听听听听听听听听听听 133,668

Corporate-level costs and expenses

11,747

11,777

Pro forma hotel level adjustments, net⁽³⁾

(5,755)

(9,571)

Same-Property Hotel EBITDA attributable to common stock and unit holders⁽⁴⁾

$听听听听听听听听听听听听听 158,477

$听听听听听听听听听听听听听 135,874

1.

During the six months ended June 30, 2025, the Company recorded $0.5 million of insurance proceeds in excess of recognized losses related to casualty losses at one property. During the six months ended June 30, 2024, the Company recorded $1.4 million of insurance proceeds in excess of recognized losses related to casualty losses at certain properties. These amounts are included in other income on the condensed consolidated statements of operations and comprehensive income for the periods then ended.

2.

During the six months ended June 30, 2025, the Company purchased the land associated with a ground lease resulting in the recognition of a $1.1 million net gain related to the write off of the associated right-of-use asset and lease liability and recognized $0.5 million of pre-opening expenses. During the six months ended June 30, 2024, the Company recognized $0.6 million of pre-opening expenses and recognized $0.3 million of repair and clean up costs related to damage sustained at one property.

3.

Includes adjustments for revenues and expenses from hotels that were acquired or sold during the periods presented.

4.

See the reconciliation of Total Revenues and Total Hotel Operating Expenses on a consolidated GAAP basis to Total Same-Property Revenues and Total Same-Property Hotel Operating Expenses and the calculation of Same-Property Hotel EBITDA and Hotel EBITDA Margin for the six months ended听 June 30, 2025 and 2024 on page 20.

Xenia Hotels & Resorts, Inc.
Reconciliation of Net Income to FFO and Adjusted FFO
For the Three Months Ended June 30, 2025 and 2024
(Unaudited)
($ amounts in thousands)

Three Months Ended June 30,

2025

2024

Net income

$听听听听听听听听听听听听听 58,561

$听听听听听听听听听听听听听听听听听听 16,113

Adjustments:

Depreciation and amortization related to investment properties

32,587

31,740

Impairment of investment properties

279

鈥�

Gain on sale of investment properties

(39,953)

鈥�

FFO attributable to common stock and unit holders

$听听听听听听听听听听听听听 51,474

$听听听听听听听听听听听听听听听听听听 47,853

Reconciliation to Adjusted FFO

Gain on insurance recoveries⁽¹⁾

鈥�

(437)

Loan related costs, net of adjustment related to non-controlling interests⁽²⁾

1,168

1,382

Amortization of share-based compensation expense

4,579

4,675

Non-cash ground rent and straight-line rent expense

2

(129)

Other non-recurring expenses⁽³⁾

183

356

Adjusted FFO attributable to common stock and unit holders

$听听听听听听听听听听听听听 57,406

$听听听听听听听听听听听听听听听听听听 53,700

Weighted-average shares outstanding - Diluted⁽⁴⁾

100,088

104,062

Adjusted FFO per diluted share

$听听听听听听听听听听听听听听听听听 0.57

$听听听听听听听听听听听听听听听听听听听听听听听 0.52

1.

During the three months ended June 30, 2024, the Company recorded $0.4 million of insurance proceeds in excess of recognized losses related to casualty losses at certain properties. These amounts are included in other income on the condensed consolidated statements of operations and comprehensive income for the period then ended.

2.

Loan related costs include amortization of debt premiums, discounts and deferred loan origination costs.

3.

During the three months ended June 30, 2024, the Company recognized $0.3 million of pre-opening expenses and recognized $0.1 million of repair and clean up costs related to damage sustained at one property.

4.

Diluted weighted-average number of shares of common stock outstanding plus the weighted-average vested Operating Partnership Units for the respective periods presented in thousands.

Xenia Hotels & Resorts, Inc.
Reconciliation of Net Income to FFO and Adjusted FFO
For the Six Months Ended June 30, 2025 and 2024
(Unaudited)
($ amounts in thousands)

Six Months Ended June 30,

2025

2024

Net income

$听听听听听听听听听听听听听听听 75,068

$听听听听听听听听听听听听听听听 25,080

Adjustments:

Depreciation and amortization related to investment properties

65,696

63,624

Impairment of investment properties

279

鈥�

Gain on sale of investment properties

(39,953)

鈥�

FFO attributable to common stock and unit holders

$听听听听听听听听听听听听听 101,090

$听听听听听听听听听听听听听听听 88,704

Reconciliation to Adjusted FFO

Gain on insurance recoveries⁽¹⁾

(548)

(1,447)

Loan related costs, net of adjustment related to non-controlling interests⁽²⁾

2,207

2,715

Amortization of share-based compensation expense

7,205

8,572

Non-cash ground rent and straight-line rent expense

(11)

(267)

Other non-recurring expenses⁽³⁾

(477)

921

Adjusted FFO attributable to common stock and unit holders

$听听听听听听听听听听听听听 109,466

$听听听听听听听听听听听听听听听 99,198

Weighted-average shares outstanding - Diluted⁽⁴⁾

101,539

104,034

Adjusted FFO per diluted share

$听听听听听听听听听听听听听听听听听听听听 1.08

$听听听听听听听听听听听听听听听听听听听听 0.95

1.

During the six months ended June 30, 2025, the Company recorded $0.5 million of insurance proceeds in excess of recognized losses related to casualty losses at one property. During the six months ended June 30, 2024, the Company recorded $1.4 million of insurance proceeds in excess of recognized losses related to casualty losses at certain properties. These amounts are included in other income on the condensed consolidated statements of operations and comprehensive income for the periods then ended.

2.

Loan related costs include amortization of debt premiums, discounts and deferred loan origination costs.

3.

During the six months ended June 30, 2025, the Company purchased the land associated with a ground lease resulting in the recognition of a $1.1 million net gain related to the write off of the associated right-of-use asset and lease liability and recognized $0.5 million of pre-opening expenses. During the six months ended June 30, 2024, the Company recognized $0.6 million of pre-opening expenses and recognized $0.3 million of repair and clean up costs related to damage sustained at one property.

4.

Diluted weighted-average number of shares of common stock outstanding plus the weighted-average vested Operating Partnership Units for the respective periods presented in thousands.

Xenia Hotels & Resorts, Inc.
Reconciliation of Net Income to Adjusted EBITDAre听
for Current Full Year 2025 Guidance
($ amounts in millions)

Guidance
Midpoint

Full Year

Net income

$听听听听听听听听听听听听听听听 65

Adjustments:

Interest expense⁽¹⁾

86

Income tax expense

2

Depreciation and amortization

131

EBITDA

$听听听听听听听听听听听听 284

Gain on sale of investment property

(40)

EBITDAre

$听听听听听听听听听听听听 244

Amortization of share-based compensation expense

14

Other⁽²⁾

(2)

Adjusted EBITDAre

$听听听听听听听听听听听听 256

Reconciliation of Net Income to Adjusted听FFO
for Current Full Year 2025 Guidance
($ amounts in millions)

Guidance
Midpoint

Full Year

Net income

$听听听听听听听听听听听听听听听 65

Adjustments:

Depreciation and amortization related to investment properties

131

Gain on sale of investment property

(40)

FFO

$听听听听听听听听听听听听 156

Amortization of share-based compensation expense

14

Other⁽¹⁾⁽²⁾

3

Adjusted FFO

$听听听听听听听听听听听听 173

1.

Includes non-cash loan amortization costs.

2.

Includes below market ground rent and net gain on write-off of lease liability and right-of-use asset.

Xenia Hotels & Resorts, Inc.
Debt Summary as of June 30, 2025
(Unaudited)
($ amounts in thousands)

Rate Type

Rate⁽¹⁾

Maturity Date

Outstanding as
of June听30, 2025

Mortgage Loans

Grand Bohemian Hotel Orlando, Autograph Collection

Fixed

4.53听%

March 2026

$听听听听听听听听听听听听听听听听 52,677

Marriott San Francisco Airport Waterfront

Fixed

4.63听%

May 2027

104,865

Andaz Napa

听听听 Fixed⁽²⁾

5.72听%

January 2028

54,582

Total Mortgage Loans

4.88听%

⁽³⁾

$听听听听听听听听听听听听听听 212,124

Corporate Credit Facilities

Corporate Credit Facility Term Loan

Variable⁽⁴⁾

6.23听%

November 2028

$听听听听听听听听听听听听听听 225,000

Corporate Credit Facility Term Loan

Variable⁽⁴⁾

6.23听%

November 2028

100,000

Revolving Credit Facility

Variable⁽⁵⁾

6.23听%

November 2028

鈥�

Total Corporate Credit Facilities

$听听听听听听听听听听听听听听 325,000

2029 Senior Notes $500M

Fixed

4.88听%

June 2029

500,000

2030 Senior Notes $400M

Fixed

6.63听%

May 2030

400,000

Loan premiums, discounts and unamortized deferred financing costs, net⁽⁶⁾

(13,443)

Total Debt, net of loan premiums, discounts and unamortized deferred financing costs

5.67听%

⁽³⁾

$听听听听听听听听听听听 1,423,681

1.

Represents annual interest rates.

2.

A variable interest loan for which听SOFR has been fixed through January 1, 2027, after which the rate reverts to variable.

3.

Weighted-average interest rate.

4.

A variable interest loan for which the credit spread may vary, as it is determined by the Company's leverage ratio.

5.

The Revolving Credit Facility has a total capacity of $500 million. The spread to听SOFR may vary, as it is determined by the Company's leverage ratio.

6.

Includes loan premiums, discounts and deferred financing costs, net of accumulated amortization.

Xenia Hotels & Resorts, Inc.
Same-Property⁽¹⁾ Hotel EBITDA and Hotel EBITDA Margin听
For the Three and Six Months Ended June 30, 2025 and 2024听
($ amounts in thousands)

Three Months Ended June 30,

Six Months Ended June 30,

2025

2024

Change

2025

2024

Change

Same-Property Occupancy⁽¹⁾

72.3听%

70.9听%

听听听 140听 听bps

71.0听%

69.2听%

听听听 180听 听bps

Same-Property Average Daily Rate⁽¹⁾

$听听听听听听 270.42

$听听听听听听 265.16

2.0听%

$听听听听听听 272.88

$听听听听听听 265.64

2.7听%

Same-Property RevPAR⁽¹⁾

$听听听听听听 195.51

$听听听听听听 187.95

4.0听%

$听听听听听听 193.66

$听听听听听听 183.82

5.4听%

Same-Property Revenues⁽¹⁾:

Rooms revenues

$听听听 157,771

$听听听 151,585

4.1听%

$听听听 310,830

$听听听 296,501

4.8听%

Food and beverage revenues

101,476

83,957

20.9听%

200,342

170,450

17.5听%

Other revenues

26,834

22,100

21.4听%

50,344

42,872

17.4听%

Total Same-Property revenues

$听听听 286,081

$听听听 257,642

11.0听%

$听听听 561,516

$听听听 509,823

10.1听%

Same-Property Expenses⁽¹⁾:

Rooms expenses

$听听听听听听 39,064

$听听听听听听 36,635

6.6听%

$听听听听听听 76,617

$听听听听听听 72,490

5.7听%

Food and beverage expenses

65,354

57,906

12.9听%

129,279

115,356

12.1听%

Other direct expenses

7,337

6,566

11.7听%

14,059

12,435

13.1听%

Other indirect expenses

67,820

64,889

4.5听%

135,149

127,702

5.8听%

Management and franchise fees

10,049

9,235

8.8听%

21,649

19,456

11.3听%

AG真人官方 estate taxes, personal property taxes and insurance

11,898

12,814

(7.1)听%

24,910

25,606

(2.7)听%

Ground lease expense

532

850

(37.4)听%

1,376

1,649

(16.6)听%

Gain on business interruption insurance

鈥�

鈥�

鈥斕�%

鈥�

(745)

(100.0)听%

Total Same-Property hotel operating expenses

$听听听 202,054

$听听听 188,895

7.0听%

$听听听 403,039

$听听听 373,949

7.8听%

Same-Property Hotel EBITDA⁽¹⁾

$听听听听听听 84,027

$听听听听听听 68,747

22.2听%

$听听听 158,477

$听听听 135,874

16.6听%

Same-Property Hotel EBITDA Margin⁽¹⁾

29.4听%

26.7听%

听听听 269听 听bps

28.2听%

26.7听%

听听听 157听 听bps

1.

"Same-Property" includes all properties owned as of June 30, 2025 and includes renovation disruption for multiple capital projects during the periods presented. The following is a reconciliation of Total Revenues and Total Hotel Operating Expenses consolidated on a GAAP basis to Total Same-Property Revenues and Total Same-Property Hotel Operating Expenses for the three and six months ended June 30, 2025 and 2024.

Three Months Ended June 30,

Six Months Ended June 30,

2025

2024

2025

2024

Total Revenues - GAAP

$听听听听听听听听听听听听听听听听听听听听听 287,579

$听听听听听听听听听听听听听听听听听听听听听 272,904

$听听听听听听听听听听听听听听听听听听听听听 576,506

$听听听听听听听听听听听听听听听听听听听听听 540,392

Pro forma hotel level adjustments^(a)

(1,498)

(15,262)

(14,990)

(30,569)

Total Same-Property Revenues

$听听听听听听听听听听听听听听听听听听听听听 286,081

$听听听听听听听听听听听听听听听听听听听听听 257,642

$听听听听听听听听听听听听听听听听听听听听听 561,516

$听听听听听听听听听听听听听听听听听听听听听 509,823

Total Hotel Operating Expenses - GAAP

$听听听听听听听听听听听听听听听听听听听听听 190,950

$听听听听听听听听听听听听听听听听听听听听听 185,819

$听听听听听听听听听听听听听听听听听听听听听 386,497

$听听听听听听听听听听听听听听听听听听听听听 368,845

AG真人官方 estate taxes, personal property taxes and insurance

11,928

13,340

25,657

26,833

Ground lease expense, net^(b)

532

850

1,376

1,649

Other income

(4)

(361)

(12)

(686)

Gain on business interruption insurance

鈥�

鈥�

鈥�

(745)

Corporate-level costs and expenses

(603)

(453)

(1,062)

(965)

Pro forma hotel level adjustments, net^(a)

(749)

(10,300)

(9,417)

(20,982)

Total Same-Property Hotel Operating Expenses

$听听听听听听听听听听听听听听听听听听听听听 202,054

$听听听听听听听听听听听听听听听听听听听听听 188,895

$听听听听听听听听听听听听听听听听听听听听听 403,039

$听听听听听听听听听听听听听听听听听听听听听 373,949

a.听 听

听 听Includes adjustments for revenues and expenses from hotels that were acquired or sold during the periods presented.

b.听 听

听 听Excludes non-cash ground rent expense.

Xenia Hotels & Resorts, Inc.
Same-Property(1) Historical Operating Data
($ amounts in thousands, except ADR and RevPAR)

2025

First
Quarter

Second
Quarter

Third
Quarter

Fourth
Quarter

Full Year

Occupancy

69.6听%

72.3听%

ADR

$听听听听听听 275.47

$听听听听听听听听听 270.42

RevPAR

$听听听听听听 191.80

$听听听听听听听听听 195.51

Hotel Revenues

$听听听听 275,435

$听听听听听听 286,081

Hotel EBITDA

$听听听听听听 74,450

$听听听听听听听听听 84,027

Hotel EBITDA Margin

27.0听%

29.4听%

2024

First
Quarter

Second
Quarter

Third
Quarter

Fourth
Quarter

Full Year

Occupancy

67.5听%

70.9听%

67.3听%

64.8听%

67.6听%

ADR

$听听听听听听 266.14

$听听听听听听听听听 265.16

$听听听听听听听听听 244.24

$听听听听听听听听听 260.43

$听听听听听听听听听 259.03

RevPAR

$听听听听听听 179.70

$听听听听听听听听听 187.95

$听听听听听听听听听 164.44

$听听听听听听听听听 168.81

$听听听听听听听听听 175.18

Hotel Revenues

$听听听听 252,181

$听听听听听听 257,642

$听听听听听听 227,812

$听听听听听听 248,855

$听听听听听听 986,490

Hotel EBITDA

$听听听听听听 67,127

$听听听听听听听听听 68,747

$听听听听听听听听听 46,617

$听听听听听听听听听 59,197

$听听听听听听 241,688

Hotel EBITDA Margin

26.6听%

26.7听%

20.5听%

23.8听%

24.5听%

1.

"Same-Property" includes all hotels owned as of June 30, 2025 and also includes disruption from multiple capital projects during the periods presented.

Xenia Hotels & Resorts, Inc.
Same-Property(1) Portfolio Data by Market, Ranked by Hotel EBITDA

% of 2024
Hotel EBITDA⁽³⁾

Number of
Hotels

Number of
Rooms ⁽⁴⁾⁽⁵⁾

Houston, TX

17听%

3

1,223

Orlando, FL

17听%

2

1,027

San Diego, CA

8听%

2

486

Atlanta, GA

8听%

2

649

Nashville, TN

6听%

1

346

San Francisco/San Mateo, CA

5听%

1

688

Florida Keys, FL

5听%

1

120

Dallas, TX

4听%

1

416

Portland, OR

4听%

2

685

Washington, DC-MD-VA

3听%

1

365

San Jose/Santa Cruz, CA

3听%

1

505

Phoenix, AZ

3听%

2

615

Savannah, GA

2听%

2

226

California Wine Country, CA

2听%

1

141

California Central Coast, CA

2听%

1

97

Pittsburgh, PA

2听%

1

185

Birmingham, AL

2听%

1

99

Denver, CO

2听%

1

205

Salt Lake City/Ogden, UT

2听%

1

225

Philadelphia, PA

1听%

1

230

Louisiana South, LA

1听%

1

285

Charleston, SC

1听%

1

50

Same-Property Portfolio⁽¹⁾

100听%

30

8,868

1.

"Same-Property" includes all hotels owned as of June 30, 2025 and also includes renovation disruption for multiple capital projects during the period presented.

2.

As defined by听STR, Inc.

3.

Hotel EBITDA, Same-Property Hotel EBITDA, and Hotel EBITDA Margin are non-GAAP financial measures. See definitions earlier in this press release for how we define these non-GAAP financial measures.

4.

As of June 30, 2025.

5.

Five rooms were added to inventory at Grand听Hyatt Scottsdale Resort in the first quarter 2025.

Xenia Hotels & Resorts, Inc.
Same-Property⁽¹⁾ Portfolio Data by Market
For the Three Months Ended June 30, 2025 and 2024

Three Months Ended

Three Months Ended

June 30, 2025

June 30, 2024

% Change

Market⁽²⁾

Occupancy

ADR

RevPAR

Occupancy

ADR

RevPAR

RevPAR

Houston, TX

64.9听%

$听听听 231.64

$听听听 150.36

69.3听%

$听听听 227.68

$听听听 157.89

(4.8)听%

Orlando, FL

82.8听%

226.44

187.44

79.1听%

222.22

175.88

6.6听%

San Diego, CA

68.9听%

367.01

253.01

69.1听%

347.00

239.66

5.6听%

Atlanta, GA

72.1听%

251.89

181.58

74.9听%

242.35

181.52

鈥斕�%

Nashville, TN

75.8听%

367.81

278.84

73.0听%

401.42

293.03

(4.8)听%

San Francisco/San Mateo, CA

81.8听%

219.10

179.25

79.3听%

209.95

166.42

7.7听%

Florida Keys, FL

87.2听%

502.62

438.23

80.1听%

531.09

425.45

3.0听%

Dallas, TX

66.0听%

216.08

142.57

80.3听%

203.52

163.34

(12.7)听%

Portland, OR

66.8听%

186.15

124.33

69.6听%

205.20

142.88

(13.0)听%

Washington, DC-MD-VA

72.6听%

320.02

232.21

74.7听%

305.99

228.68

1.5听%

San Jose/Santa Cruz, CA

63.4听%

241.69

153.28

57.9听%

245.53

142.16

7.8听%

Phoenix, AZ

62.3听%

347.46

216.57

36.8听%

352.20

129.76

66.9听%

Savannah, GA

89.6听%

254.10

227.65

85.6听%

274.63

235.17

(3.2)听%

California Wine Country, CA

77.9听%

442.62

344.83

76.9听%

434.39

333.95

3.3听%

California Central Coast, CA

80.7听%

476.31

384.52

77.3听%

452.18

349.47

10.0听%

Pittsburgh, PA

80.9听%

325.82

263.70

75.4听%

274.31

206.81

27.5听%

Birmingham, AL

79.6听%

359.26

286.08

81.0听%

363.55

294.34

(2.8)听%

Denver, CO

73.8听%

379.19

279.82

73.1听%

387.05

283.08

(1.2)听%

Salt Lake City/Ogden, UT

71.3听%

212.12

151.33

76.2听%

204.34

155.71

(2.8)听%

Philadelphia, PA

81.1听%

232.05

188.08

75.7听%

242.06

183.21

2.7听%

Louisiana South, LA

60.7听%

201.36

122.22

59.0听%

199.71

117.79

3.8听%

Charleston, SC

87.8听%

463.82

407.24

89.1听%

455.20

405.58

0.4听%

Same-Property⁽¹⁾ Portfolio

72.3听%

$听听 270.42

$听听 195.51

70.9听%

$听听 265.16

$听听 187.95