Xenia Hotels & Resorts, Inc. Q3 2026 Earnings Recap

Xenia’s Q3 results and raised full-year outlook were positive, but the stock rose a more measured 2.0% after earnings. Results benefited from broad-based RevPAR growth and margin expansion, while management expects RevPAR growth to outpace total RevPAR growth for the full year, partly because transient demand contributes less ancillary revenue than group business.

Key Takeaways

• Same-property RevPAR rose 12.5% year over year to $184.75; growth was balanced between occupancy and ADR, and 21 of 22 markets recorded increases.
• Same-property hotel EBITDA increased 29.3% to $60.2 million, with margin expanding nearly 300 basis points to 22.9%.
• Adjusted EBITDAre was $53.2 million, up 26%; adjusted FFO per share was $0.36, up almost 57%. The company also reported a $2.7 million GAAP net loss.
• Management raised full-year guidance to 7.75%–8.25% same-property RevPAR growth and 7%–7.5% total RevPAR growth.
• Planned 2026 property-improvement spending is now $70 million–$75 million; renovations at Andaz Napa and the Ritz-Carlton Denver are scheduled to begin next month.