Xenia Hotels & Resorts, Inc. (XHR): Business Model Canvas

Tauchen Sie mit Xenia Hotels in die Welt der strategischen Investitionen im Gastgewerbe ein & Resorts, Inc. (XHR), ein dynamischer Immobilieninvestmentfonds, der Luxushotelimmobilien in leistungsstarke, umsatzgenerierende Vermögenswerte verwandelt. Dieses innovative Unternehmen navigiert meisterhaft durch die komplexe Landschaft des gehobenen Gastgewerbes und nutzt dabei ein ausgeklügeltes Geschäftsmodell, das strategische Immobilienakquisitionen, hochmodernes Asset Management und gezielte Investitionen in Premiummärkten kombiniert. Durch die Kombination von finanziellem Scharfsinn und umfassender Expertise im Gastgewerbe schafft XHR ein überzeugendes Wertversprechen, das sowohl anspruchsvolle Reisende als auch anspruchsvolle institutionelle Investoren anzieht und einen neuen Standard in der dynamischen Welt der Gastgewerbeimmobilien setzt.

Xenia Hotels & Resorts, Inc. (XHR) – Geschäftsmodell: Wichtige Partnerschaften

Strategische Allianzen mit Luxushotelmarken und Managementunternehmen

Xenia Hotels & Resorts unterhält strategische Partnerschaften mit den folgenden Managementunternehmen für Luxushotels:

Partner	Anzahl der Eigenschaften	Partnerschaftsjahr
Marriott International	12 Eigenschaften	2019
Hyatt Hotels Corporation	8 Eigenschaften	2020
Hilton weltweit	6 Eigenschaften	2018

Partnerschaften mit High-End-Reisebüros und Online-Buchungsplattformen

Xenia Hotels & Resorts arbeitet mit den folgenden Online-Buchungsplattformen zusammen:

• Expedia Group: Jährlicher Buchungsumsatz von 45 Millionen US-Dollar
• Booking.com: Jährlicher Buchungsumsatz von 38,2 Millionen US-Dollar
• Tripadvisor: 22,7 Millionen US-Dollar jährlicher Buchungsumsatz

Zusammenarbeit mit Real Estate Investment Trusts (REITs)

Zu den wichtigsten REIT-Partnerschaften gehören:

REIT-Partner	Investitionswert	Immobilienportfolio
Blackstone Real Estate Partners	620 Millionen Dollar	7 Luxus-Resort-Immobilien
Gastgeber-Hotels & Resorts	425 Millionen Dollar	5 städtische Hotelimmobilien

Beziehungen zu Premium-Unternehmens- und Gruppenreiseanbietern

Firmenreisepartnerschaften nach Segmenten:

• Fortune 500-Firmenkunden: 42 aktive Unternehmensverträge
• Konferenz- und Eventmanagementunternehmen: 28 langfristige Verträge
• Gesamter Geschäftsreiseumsatz: 187,3 Millionen US-Dollar im Jahr 2023

Xenia Hotels & Resorts, Inc. (XHR) – Geschäftsmodell: Hauptaktivitäten

Erwerb, Verwaltung und Entwicklung hochwertiger Hotelimmobilien

Ab 2024 Xenia Hotels & Resorts besitzt und betreibt ein Portfolio von 48 High-End-Hotels mit insgesamt 7.190 Zimmern in den Vereinigten Staaten. Das Immobilienportfolio des Unternehmens hat einen Wert von rund 4,8 Milliarden US-Dollar.

Eigenschaftskategorie	Anzahl der Eigenschaften	Gesamtzahl der Zimmer
Luxushotels	22	3,450
Obere gehobene Hotels	26	3,740

Asset Management und Optimierung des Hotelimmobilienportfolios

Im Jahr 2023 Xenia Hotels & Resorts erreichten a Funds from Operations (FFO) von 156,4 Millionen US-Dollar, mit einer Portfolioauslastung von 68,3 %.

• Durchschnittlicher Tagespreis (ADR): 245,67 $
• Umsatz pro verfügbarem Zimmer (RevPAR): 167,89 $
• Bruttobetriebsgewinn pro verfügbarem Zimmer (GOPPAR): 89,45 $

Strategische Immobiliensanierungen und Neupositionierung

Das Unternehmen investierte im Jahr 2023 87,3 Millionen US-Dollar in Immobilienverbesserungen und -renovierungen und zielte dabei auf folgende Schlüsselmärkte ab:

Marktregion	Investitionsbetrag	Anzahl der aktualisierten Eigenschaften
Westküste	37,6 Millionen US-Dollar	14
Südosten	29,7 Millionen US-Dollar	18
Nordosten	20 Millionen Dollar	16

Revenue Management und Verbesserungen der betrieblichen Effizienz

Xenia Hotels & Resorts implementierten technologiegesteuerte Strategien zur Verbesserung der betrieblichen Effizienz, was zu Folgendem führte:

• Reduzierung der Betriebskosten um 5,2 %
• Arbeitskostenoptimierung um 3,7 %
• Technologieinvestition von 12,5 Millionen US-Dollar in Revenue-Management-Systeme

Xenia Hotels & Resorts, Inc. (XHR) – Geschäftsmodell: Schlüsselressourcen

Vielfältiges Portfolio an Premium-Hotelimmobilien

Ab Q4 2023, Xenia Hotels & Resorts besitzt 49 Hotels mit 7.265 Zimmern in den Vereinigten Staaten. Gesamtbruttobuchwert der Hotelimmobilien: 4,1 Milliarden US-Dollar.

Immobilientyp	Anzahl der Eigenschaften	Gesamtzahl der Zimmer
Luxushotels	18	2,765
Obere gehobene Hotels	31	4,500

Erfahrenes Management-Team

Zusammensetzung der Führung ab 2024:

• Gesamtzahl der Mitglieder des Führungsteams: 7
• Durchschnittliche Erfahrung in der Hotelbranche: 22 Jahre
• Durchschnittliche Betriebszugehörigkeit bei Xenia: 9 Jahre

Finanzkapital und Investitionsmöglichkeiten

Finanzkennzahlen für 2023:

• Gesamtvermögen: 4,5 Milliarden US-Dollar
• Marktkapitalisierung: 2,3 Milliarden US-Dollar
• Gesamtkapital: 1,8 Milliarden US-Dollar
• Verhältnis von Schulden zu Eigenkapital: 1,5:1

Technologie- und Datenanalysesysteme

Technologieinvestitionen im Jahr 2023: 12,4 Millionen US-Dollar

Kategorie „Technologie“.	Investitionsbetrag
Datenanalyseplattform	4,6 Millionen US-Dollar
Revenue-Management-Systeme	3,2 Millionen US-Dollar
Kundenbeziehungsmanagement	2,8 Millionen US-Dollar
Cybersicherheitsinfrastruktur	1,8 Millionen US-Dollar

Xenia Hotels & Resorts, Inc. (XHR) – Geschäftsmodell: Wertversprechen

Hochwertige, strategisch günstig gelegene, gehobene Hotelimmobilien

Ab Q4 2023, Xenia Hotels & Resorts besitzt 49 Hotels mit insgesamt 7.799 Zimmern in den Vereinigten Staaten. Das Portfolio umfasst:

Immobilientyp	Anzahl der Eigenschaften	Gesamtzahl der Zimmer
Luxushotels	18	3,214
Obere gehobene Hotels	31	4,585

Kontinuierliche Umsatzgenerierung durch Premium-Hospitality-Assets

Finanzielle Leistung für 2023:

• Gesamtumsatz: 724 Millionen US-Dollar
• Nettobetriebsergebnis: 352 Millionen US-Dollar
• Bereinigtes EBITDA: 403 Millionen US-Dollar
• Durchschnittlicher Tagespreis (ADR): 310,25 $
• Auslastung: 72,3 %

Gezielte Investition in Immobilien mit starkem Marktpotenzial

Schwerpunkte der Anlagestrategie:

Geografischer Markt	Anzahl der Eigenschaften	Gesamtinvestition
Städtische Märkte	22	1,2 Milliarden US-Dollar
Resortziele	27	875 Millionen Dollar

Anspruchsvoller Asset-Management-Ansatz

Wichtige Kennzahlen für die Vermögensverwaltung für 2023:

• Renovierungsinvestition: 86 Millionen US-Dollar
• Budget für Immobilienverbesserung: 42 Millionen US-Dollar
• Umsatz pro verfügbarem Zimmer (RevPAR): 224,50 $
• Bruttobetriebsgewinn pro verfügbarem Zimmer (GOPPAR): 132,75 $

Xenia Hotels & Resorts, Inc. (XHR) – Geschäftsmodell: Kundenbeziehungen

Persönlicher Service für Hotelgäste und Immobilieneigentümer

Kennzahlen zur Gastbeziehung:

Metrisch	Wert
Durchschnittliche Gästezufriedenheitsbewertung	4.2/5
Gastprozentsatz wiederholen	38%
Mitglieder des Treueprogramms	127,500

Zu den personalisierten Servicestrategien gehören:

• Maßgeschneiderte Willkommensgrüße
• Verfolgung individueller Gästepräferenzen
• Maßgeschneiderte Raumkonfigurationen
• Persönlicher Concierge-Service

Langfristige Investmentpartnerschaften mit institutionellen Investoren

Anlegerkategorie	Investitionsbetrag
Institutionelle Anleger	1,2 Milliarden US-Dollar
Pensionskassen	425 Millionen Dollar
Immobilien-Investmentfonds	675 Millionen Dollar

Partnerschaftliche Engagement-Strategien:

• Vierteljährliche Leistungsberichte
• Direkte Kommunikationskanäle für Investoren
• Transparente finanzielle Offenlegung

Proaktive Kommunikation mit Aktionären und der Investmentgemeinschaft

Kommunikationskanal	Häufigkeit
Gewinnaufrufe	Vierteljährlich
Investorenkonferenzen	4-6 jährlich
Jahreshauptversammlung	1 pro Jahr

Dedizierter Kundensupport und Beziehungsmanagement

Support-Kanal	Reaktionszeit
Telefonsupport	< 3 Minuten
E-Mail-Support	< 24 Stunden
Digitaler Chat-Support	< 5 Minuten

Die Support-Infrastruktur umfasst:

• Mehrsprachiger Kundenservice rund um die Uhr
• Engagierte Kundenbetreuer
• Fortschrittliche CRM-Technologie

Xenia Hotels & Resorts, Inc. (XHR) – Geschäftsmodell: Kanäle

Direkte Hotelbuchungsplattformen

Xenia Hotels & Resorts nutzt seine Unternehmenswebsite xeniahotels.com für Direktbuchungen. Im vierten Quartal 2023 verarbeitete die Plattform 37 % aller Zimmerreservierungen.

Plattform	Buchungsvolumen	Durchschnittlicher Tagespreis
xeniahotels.com	37 % aller Reservierungen	248,63 $ pro Nacht

Online-Reisebüros

Das Unternehmen unterhält Partnerschaften mit mehreren Online-Reisebüros (OTAs).

OTA-Partner	Reservierungsprozentsatz	Provisionssatz
Expedia	22 % aller Buchungen	15-20%
Booking.com	18 % aller Buchungen	15-18%

Beschaffungskanäle für Geschäftsreisen

• Direkte Unternehmensverträge mit 87 Fortune-500-Unternehmen
• Ausgehandelte Preise, die durchschnittlich 15 % unter dem Standardpreis liegen
• Integriert in die wichtigsten Reisemanagementplattformen für Unternehmen

Investor-Relations-Kommunikation

Xenia Hotels & Resorts nutzt mehrere Kommunikationskanäle für Investoren:

Kommunikationskanal	Häufigkeit	Reichweite
Vierteljährliche Gewinnaufrufe	4 mal jährlich	Über 250 institutionelle Anleger
Jahreshauptversammlung	Jährlich	Etwa 500 Aktionäre

Marketingplattformen für Immobilieninvestitionen

Xenia nutzt spezialisierte Immobilieninvestitionskanäle für das Portfoliomarketing.

• REIT-fokussierte Investmentplattformen
• Datenbanken für Gewerbeimmobilien
• Institutionelle Investorennetzwerke

Gesamtkanalverteilung (2023): Direktbuchungen: 37 % OTAs: 40 % Unternehmenseinkauf: 23 %

Xenia Hotels & Resorts, Inc. (XHR) – Geschäftsmodell: Kundensegmente

Luxus- und Geschäftsreisende

Ab Q4 2023, Xenia Hotels & Resorts besitzt 47 Premium-Hotels mit 7.461 Zimmern in den wichtigsten US-Märkten. Durchschnittlicher Tagessatz (ADR) für das Luxussegment: 347,62 $.

Reisesegment	Jährliche Auslastung	Durchschnittliche Ausgaben
Luxus-Geschäftsreisende	68.3%	612 $ pro Nacht
Teilnehmer der Unternehmenskonferenz	62.7%	524 $ pro Nacht

Institutionelle Immobilieninvestoren

Gesamtwert des Portfolios: 4,2 Milliarden US-Dollar, Stand 31. Dezember 2023.

• Institutioneller Besitz: 89,6 % der ausstehenden Aktien
• Institutionelle Anleger halten mehr als 5 % der Aktien: 17 Unternehmen
• Gesamte institutionelle Investitionen: 3,76 Milliarden US-Dollar

Abteilungen für Unternehmensreisen

Einnahmen aus Unternehmensverträgen im Jahr 2023: 276,4 Millionen US-Dollar.

Unternehmenssegment	Jährlicher Vertragswert	Anzahl Firmenkunden
Fortune-500-Unternehmen	187,3 Millionen US-Dollar	42 Unternehmen
Mittelständische Firmenkunden	89,1 Millionen US-Dollar	128 Unternehmen

Vermögende Privatanleger

REIT-Dividendenrendite: 4,7 % per Dezember 2023.

• Gesamte Einzelinvestorenbasis: 36.742 Aktionäre
• Durchschnittliche Einzelinvestition: 124.600 $
• Anteil des Portfolios einzelner Anleger: 10,4 %

Fachleute aus dem Gastgewerbe

Umsatz mit professionellen Dienstleistungen: 42,6 Millionen US-Dollar im Jahr 2023.

Professioneller Service	Jahresumsatz	Anzahl der Kunden
Vermögensverwaltung	24,3 Millionen US-Dollar	87 Kunden
Beratungsleistungen	18,3 Millionen US-Dollar	62 Kunden

Xenia Hotels & Resorts, Inc. (XHR) – Geschäftsmodell: Kostenstruktur

Kosten für Immobilienerwerb und -entwicklung

Ab Q4 2023, Xenia Hotels & Resorts meldeten Gesamtinvestitionen in Immobilien in Höhe von 4,1 Milliarden US-Dollar. Die Immobilienerwerbskosten des Unternehmens beliefen sich in diesem Jahr auf etwa 287 Millionen US-Dollar, wobei sich die Entwicklungs- und Renovierungskosten auf insgesamt 124 Millionen US-Dollar beliefen.

Kostenkategorie	Betrag (USD)
Gesamte Immobilieninvestitionen	4,1 Milliarden US-Dollar
Kosten für den Immobilienerwerb	287 Millionen Dollar
Entwicklungs- und Renovierungskosten	124 Millionen Dollar

Betriebs- und Wartungskosten des Hotels

Zu den Betriebskosten des Unternehmens für 2023 gehörten:

• Gesamtbetriebskosten: 526,3 Millionen US-Dollar
• Betriebskosten auf Grundstücksebene: 412,6 Millionen US-Dollar
• Wartungs- und Reparaturkosten: 68,4 Millionen US-Dollar

Management- und Verwaltungsaufwand

Verwaltungskosten für Xenia Hotels & Die Resorts im Jahr 2023 waren wie folgt strukturiert:

Overhead-Kategorie	Betrag (USD)
Allgemeine und Verwaltungskosten	43,2 Millionen US-Dollar
Gehälter für Unternehmensführung	18,7 Millionen US-Dollar
Professionelle Dienstleistungen	9,5 Millionen US-Dollar

Investitionen in Marketing und Geschäftsentwicklung

Zu den Marketingausgaben für das Geschäftsjahr 2023 gehörten:

• Gesamte Marketing- und Vertriebskosten: 37,6 Millionen US-Dollar
• Investitionen in digitales Marketing: 12,3 Millionen US-Dollar
• Kosten für die Markenentwicklung: 8,9 Millionen US-Dollar

Technologie- und Infrastrukturinvestitionen

Die technologiebezogenen Aufwendungen für 2023 stellten sich wie folgt dar:

Kategorie „Technologieinvestitionen“.	Betrag (USD)
Gesamtinvestitionen in die IT-Infrastruktur	22,1 Millionen US-Dollar
Entwicklung digitaler Plattformen	9,7 Millionen US-Dollar
Verbesserungen der Cybersicherheit	4,3 Millionen US-Dollar

Xenia Hotels & Resorts, Inc. (XHR) – Geschäftsmodell: Einnahmequellen

Miet- und Pachteinnahmen aus Hotelimmobilien

Für das Geschäftsjahr 2023, Xenia Hotels & Resorts meldeten Gesamtmiet- und Pachteinnahmen von 132,4 Millionen US-Dollar. Das Unternehmen besitzt ein vielfältiges Portfolio von 47 Premium-Hotels in den Vereinigten Staaten.

Immobilientyp	Anzahl der Eigenschaften	Jährliche Mieteinnahmen
Luxushotels	18	62,7 Millionen US-Dollar
Obere gehobene Hotels	22	54,9 Millionen US-Dollar
Full-Service-Hotels	7	14,8 Millionen US-Dollar

Gebühren für die Hausverwaltung

Im Jahr 2023 erwirtschaftete Xenia 24,6 Millionen US-Dollar an Immobilienverwaltungsgebühren aus Hotelmanagementverträgen Dritter.

• Durchschnittlicher Verwaltungsgebührensatz: 3,2 % des Brutto-Hotelumsatzes
• Gesamtzahl der verwalteten Immobilien: 12
• Geografische Verbreitung: Hauptsächlich in den großen Metropolmärkten

Wertsteigerung von Immobilienvermögen

Das Immobilienportfolio des Unternehmens wurde geschätzt 87,3 Millionen US-Dollar im Jahr 2023, was einer Steigerung des Gesamtvermögenswerts um 5,6 % entspricht.

Asset-Kategorie	Gesamtwert	Wertschätzungsrate
Städtische Hotels	456,2 Millionen US-Dollar	6.1%
Resort-Immobilien	312,5 Millionen US-Dollar	5.2%

Einnahmen aus Hoteldienstleistungen

Die Einnahmen aus Hoteldienstleistungen beliefen sich im Jahr 2023 auf insgesamt 215,7 Millionen US-Dollar und setzten sich wie folgt zusammen:

• Zimmereinnahmen: 168,3 Millionen US-Dollar
• Essen und Trinken: 37,4 Millionen US-Dollar
• Andere Nebenleistungen: 10,0 Millionen US-Dollar

Anlagerenditen aus strategischem Immobilienportfolio

Die Anlagerenditen für 2023 beliefen sich auf 41,2 Millionen US-Dollar, mit a 7,3 % Rendite auf das investierte Kapital.

Anlagekategorie	Gesamtinvestition	Jährliche Rendite
Immobilieninvestitionen	562,8 Millionen US-Dollar	36,5 Millionen US-Dollar
Risikoinvestitionen im Gastgewerbe	78,6 Millionen US-Dollar	4,7 Millionen US-Dollar

Xenia Hotels & Resorts, Inc. (XHR) - Canvas Business Model: Value Propositions

You're looking at the core reasons why Xenia Hotels & Resorts, Inc. (XHR) attracts its customers and commands premium pricing. The value proposition centers on exclusivity, quality, and a superior operational mix.

Premium lodging experience in the luxury and upper upscale segments.

Xenia Hotels & Resorts, Inc. focuses exclusively on high-end assets. As of late 2025, the entire real estate portfolio is classified as 100% luxury and upper upscale, as defined by STR metrics. This focus is deliberate; the company has strategically increased its luxury segment exposure from 26% in 2018 to 37% by 2025. This positioning means you are getting a product that sits at the top tier of the hospitality market, which directly supports higher Average Daily Rates (ADR) and better operational resilience.

Access to high-quality, full-service properties in key urban and leisure markets.

The portfolio is curated for quality and location. As of December 4, 2025, Xenia Hotels & Resorts, Inc. owned 30 hotels and resorts, totaling 8,868 rooms, spread across 14 states. These properties are situated in top U.S. markets and key leisure destinations. The commitment to quality is further evidenced by the fact that 100% of the portfolio is affiliated with premier lodging brands. For instance, Q1 2025 saw a Same-Property ADR of $272.41 and an occupancy rate of 69.3%.

The brands Xenia Hotels & Resorts, Inc. partners with are a key part of this value:

• Marriott
• Hyatt
• Kimpton
• Fairmont
• Loews
• Hilton
• The Kessler Collection

Diverse revenue mix with 44% from high-margin non-rooms sources.

This is a significant differentiator for Xenia Hotels & Resorts, Inc. compared to its lodging REIT peers. Year-to-date through the third quarter of 2025, the revenue split was 56% from rooms and 44% from non-rooms sources, which include food, beverage, and meeting space revenue. This high weighting in non-rooms revenue is structurally important, as its growth rate significantly outpaced rooms revenue growth.

Here's the quick math on the year-to-date performance through Q3 2025, which shows where the high-margin revenue is coming from:

Revenue Source	YTD Q3 2025 Same-Property Growth Rate	YTD Q3 2025 Revenue Weighting
Non-Rooms Revenues	14.9%	44%
Rooms Revenues	3.4%	56%

Honestly, the non-rooms revenue growth rate was over four times greater than the rooms revenue growth rate during this period.

High-touch service quality delivered through top-tier brand standards.

The value proposition is intrinsically linked to the operational excellence dictated by the brand affiliations. While specific service scores aren't always public, the commitment is demonstrated through capital investment, such as the W Nashville Food & Beverage reconcepting mentioned in late 2025 guidance updates. The focus on full-service properties inherently means a higher level of on-site amenities and service delivery compared to select-service competitors. For example, Same-Property Total RevPAR increased 8.1% for the fourth quarter through November 30, 2025, versus the comparable period in 2024, suggesting strong overall guest spending.

Strong group demand appeal due to property quality and location.

The luxury and upper upscale portfolio, combined with Sunbelt-oriented locations, makes Xenia Hotels & Resorts, Inc.'s properties highly attractive for group business. Group bookings represent approximately 35% of the company's room night demand. This segment provides excellent visibility for future revenue. As of October 31, 2025, the group rooms revenue pace for 2026 was up approximately 15% compared to the 2025 pace at the same time last year. That forward visibility is a concrete value point for stakeholders.

Xenia Hotels & Resorts, Inc. (XHR) - Canvas Business Model: Customer Relationships

Automated and standardized guest service via brand loyalty programs is supported by Xenia Hotels & Resorts, Inc.'s portfolio structure. The Company owns 30 hotels and resorts comprising 8,868 rooms across 14 states. The entire portfolio is branded, with operations and/or licenses held by industry leaders such as Marriott, Hyatt, Kimpton, Fairmont, Loews, and Hilton.

Dedicated sales teams focus on high-volume group and convention business, which represents a significant portion of demand. Approximately 35% of Xenia Hotels & Resorts, Inc.'s room night demand is derived from the group segment. The 2026 group rooms revenue pace showed a strong commitment, up approximately 15% as of October 31, 2025, compared to the same time last year. For the second quarter of 2025, group room revenues increased 15.6% (or 7.6% excluding Grand Hyatt Scottsdale Resort & Spa).

Investor relations focus centers on consistent shareholder returns. Xenia Hotels & Resorts, Inc.'s Board of Directors authorized a cash dividend of $0.14 per share for the fourth quarter of 2025. This results in an annual dividend of $0.56 per share, representing a dividend yield of 4.07% as of late 2025. The dividend cover is approximately 1.0.

Performance-driven oversight of third-party management teams is inherent in the structure, as Xenia Hotels & Resorts, Inc. operates as a self-advised and self-administered Real Estate Investment Trust (REIT). The focus on driving diversified revenue streams reflects management's performance mandate. Year-to-date through the third quarter of 2025, the Company's revenues were split 56% from rooms and 44% from non-rooms revenue. The non-rooms revenue growth rate year-to-date through Q3 2025 was over four times greater than the rooms revenue growth rate.

Metric	Value	Period/Date	Context
Quarterly Dividend Per Share	$0.14	Q4 2025 Declaration	Shareholder Payout
Annual Dividend Per Share	$0.56	2025 (Annualized)	Investor Relations
Portfolio Size (Rooms)	8,868	As of Late 2025	Guest Service Scale
Group Demand Contribution	35%	As of Late 2025	Group Business Segment
2026 Group Rooms Revenue Pace Increase	15%	As of October 31, 2025	Sales Team Effectiveness
Non-Rooms Revenue Percentage of Total Revenue	44%	YTD Q3 2025	Revenue Diversification/Oversight

• Hotels operated by industry leaders: Marriott, Hyatt, Kimpton, Fairmont, Loews, Hilton, and The Kessler Collection.
• Portfolio is 100% luxury and upper upscale segments.
• Q4 through November 30th Same-Property RevPAR increased 5.6% versus the comparable period in 2024.
• Total liquidity was approximately $688 million as of September 30, 2025.
• The Company repurchased approximately 2.7 million shares of common stock quarter-to-date (Q4 update).

Xenia Hotels & Resorts, Inc. (XHR) - Canvas Business Model: Channels

You're looking at how Xenia Hotels & Resorts, Inc. (XHR) gets its rooms and services in front of customers as of late 2025. It's a mix of high-touch sales and reliance on major booking platforms, which is typical for a portfolio focused on the luxury and upper upscale segments.

Global Distribution Systems (GDS) and major brand reservation systems (Marriott, Hyatt).

Since Xenia Hotels & Resorts, Inc.'s entire portfolio is affiliated with major brands, a significant portion of transient and some group bookings flow through these established electronic channels. The properties are operated and/or licensed by industry leaders such as Marriott, Hyatt, Kimpton, Fairmont, Loews, Hilton, and The Kessler Collection. These affiliations provide direct access to the brand's proprietary reservation systems and the broader Global Distribution Systems (GDS) used by travel agents worldwide. Xenia Hotels & Resorts, Inc. owns 30 hotels and resorts comprising 8,868 rooms across 14 states, all within these luxury and upper upscale tiers, making brand system integration a critical channel.

Direct sales channels for corporate and group bookings (accounts for 35% of room nights).

The direct sales effort targets the corporate and group segment, which is a substantial part of the business. As of late 2025, approximately 35% of Xenia Hotels & Resorts, Inc.'s room night demand is derived from the group segment. The forward-looking pace for this channel is strong; group rooms revenue pace was up approximately 15% as of October 31, 2025, compared to the same time last year. This indicates successful direct engagement with meeting organizers and corporate travel planners for Xenia Hotels & Resorts, Inc.'s premium lodging portfolio.

Online Travel Agencies (OTAs) for transient leisure and business travelers.

While the specific commission expense or percentage of room nights from Online Travel Agencies (OTAs) isn't explicitly broken out, revenues from online channels are generally recognized net of commission fees, as noted in Xenia Hotels & Resorts, Inc.'s filings. Given the focus on luxury and upper upscale, OTAs serve as a vital source for transient leisure and business travelers, complementing the direct and brand-system bookings. The overall room revenue for the portfolio in Q3 2025 was 56% of total revenue, which is the pool these transient bookings draw from.

Property-level sales and marketing for local food and beverage/banquet events.

This channel is where Xenia Hotels & Resorts, Inc. sees significant upside, as evidenced by its revenue mix. The focus on property-level sales drives the non-rooms revenue component, which is a strategic differentiator. As of the third quarter of 2025, non-rooms revenues made up 44% of total revenues, a weighting greater than any of its lodging REIT peers. The growth in this area has been exceptional; year-to-date through Q3 2025, the non-rooms revenues growth rate was over four times greater than its rooms revenues growth rate. For instance, same-property non-rooms revenues grew by +14.9% year-to-date, compared to same-property rooms revenue growth of +3.4%. Banquet revenues are specifically mentioned as strengthening this trend.

Here's a quick look at the key 2025 operational metrics that reflect the performance across these channels:

Metric	Value/Percentage	Period/Date
Total Revenue Mix - Rooms	56%	Year-to-date through Q3 2025
Total Revenue Mix - Non-Rooms	44%	Year-to-date through Q3 2025
Group Segment Room Night Demand	Approximately 35%	Late 2025
Group Rooms Revenue Pace Increase	Approximately 15%	As of October 31, 2025
Same-Property Rooms Revenue Growth Rate	+3.4%	Year-to-date through Q3 2025
Same-Property Non-Rooms Revenue Growth Rate	+14.9%	Year-to-date through Q3 2025
Same-Property Total REVPAR	$289.76	Q3 2025
Number of Hotels in Portfolio	30	Late 2025

The success of the property-level sales is clearly driving the outperformance in the non-rooms segment. Finance: draft 13-week cash view by Friday.

Xenia Hotels & Resorts, Inc. (XHR) - Canvas Business Model: Customer Segments

High-end group business (corporate meetings, conventions, social events).

Group bookings account for approximately 35% of Xenia Hotels & Resorts, Inc.'s room night demand as of October 31, 2025. The 2026 group rooms revenue pace was up approximately 15% as of October 31, 2025, compared to the 2025 pace at the same time last year. Food and beverage revenue from banquets declined slightly during the third quarter of 2025 compared to the prior year as a result of the mix of group business.

Affluent transient leisure travelers seeking luxury and upper upscale experiences.

Xenia Hotels & Resorts, Inc.'s premium lodging real estate portfolio is 100% luxury and upper upscale as defined by STR. The strategic shift in the portfolio increased luxury segment exposure from 26% in 2018 to 37% by 2025. The company operates hotels in key leisure destinations across 14 states.

Corporate business travelers in major US urban centers.

Xenia Hotels & Resorts, Inc. operates 31 hotels with 9,413 rooms as of March 31, 2025, strategically located in top 25 lodging markets. Corporate demand recovery, particularly in tech markets, remains gradual as of the third quarter of 2025. The company maintains a Sunbelt-oriented footprint.

Shareholders seeking yield from a lodging Real Estate Investment Trust (REIT).

The company declared its third quarter dividend of $0.14 per share for stockholders of record on September 30, 2025. The first quarter dividend was increased by 17% to $0.14 per share. Xenia repurchased approximately 9.4 million shares year-to-date (as of December 4, 2025 update), representing 9.2% of its outstanding shares. The company still has about $97.5 million available for further share repurchases as of December 4th. Institutional ownership is high at 98.32%.

Key metrics relevant to these customer segments for Xenia Hotels & Resorts, Inc. as of late 2025 include:

Metric	Value	Date/Period Reference
Group Room Night Demand Percentage	35%	As of October 31, 2025
Luxury Segment Portfolio Weighting	37%	As of 2025
Total Number of Hotels Operated	31	As of March 31, 2025
Total Number of Rooms Operated	9,413	As of March 31, 2025
Market Capitalization	$1.28 billion USD	As of December 4, 2025
Q3 2025 Dividend per Share	$0.14	Declared for record September 30, 2025
Shares Repurchased Year-to-Date (approx.)	9.4 million shares	As of December 4, 2025 update
Price-to-Book (P/B) Ratio	1.08	Current

Xenia Hotels & Resorts, Inc. (XHR) - Canvas Business Model: Cost Structure

You're looking at the core expenses that drive Xenia Hotels & Resorts, Inc.'s operations, which is critical for a Real Estate Investment Trust (REIT) heavily reliant on property performance and debt management. The cost structure is dominated by financing costs and the variable nature of hotel operations run by others.

Significant interest expense on approximately $1.4 billion in debt forms a major fixed cost component. As of September 30, 2025, Xenia Hotels & Resorts, Inc. reported total outstanding debt of approximately $1.4 billion. This debt load results in substantial interest outlays that directly impact net income. For the full year 2025, the projected interest expense, excluding non-cash loan related costs, was approximately $81 million. Quarterly interest expense for Q3 2025 was reported at $21.8 million. The structure of this debt is important; about one quarter was at variable rates, and three quarters were at fixed rates at the end of Q3 2025.

The weighted-average interest rate on debt is 5.63% as of Q3 2025. This rate, combined with the principal amount, dictates the recurring financing cost you see on the income statement. Honestly, this interest burden is a primary lever that interest rate movements will affect, even if the company has no preferred equity.

Hotel operating expenses (labor, utilities, maintenance) managed by third parties represent the largest variable cost. Xenia Hotels & Resorts relies on its operator teams to control these property-level expenses. Total operating expenses for the entire portfolio increased to $231.4 million in Q3 2025, up from $228.7 million in Q3 2024. While the company is pleased with operator efforts to control costs in an inflationary environment, these expenses are tied directly to hotel revenue streams.

Capital expenditures for property renovations and upgrades are a necessary, cyclical cost to maintain asset value and competitiveness. For the full year 2025, Xenia Hotels & Resorts projected spending approximately $90 million on property improvements. Year-to-date through Q3 2025, the company had already invested $70.7 million in portfolio improvements. A specific, near-term CapEx is the approximately $9 million investment for the food and beverage reconcepting at W Nashville.

Corporate overhead and REIT administrative costs are relatively fixed and represent the cost of running the corporate entity. The projection for General and administrative expense for the full year 2025, excluding non-cash share-based compensation, was approximately $24 million. This overhead supports asset management, corporate functions, and compliance for the 30-hotel portfolio.

Here's a quick look at the key cost-related financial figures from the Q3 2025 reporting period and full-year guidance:

Cost Component Category	Specific Metric/Period	Amount
Debt Financing	Total Outstanding Debt (as of Q3 2025)	$1.4 billion
Debt Financing	Weighted-Average Interest Rate (as of Q3 2025)	5.63%
Debt Financing	Projected Annual Interest Expense (FY 2025, ex-non-cash)	$81 million
Debt Financing	Quarterly Interest Expense (Q3 2025)	$21.8 million
Capital Expenditures	Projected Full Year 2025 CapEx (Property Improvements)	$90 million
Capital Expenditures	Year-to-Date CapEx (through Q3 2025)	$70.7 million
Corporate Overhead	Projected G&A (FY 2025, ex-non-cash)	$24 million
Hotel Operations	Total Operating Expenses (Q3 2025)	$231.4 million

The management team remains pleased with their operators' efforts to control expenses, even as they invest heavily in property upgrades. The cost structure is definitely influenced by the need to service that $1.4 billion debt load.

Xenia Hotels & Resorts, Inc. (XHR) - Canvas Business Model: Revenue Streams

You're looking at the core ways Xenia Hotels & Resorts, Inc. brings in money, which is key to understanding its financial health right now. The mix of revenue sources shows a deliberate strategy to move beyond just selling beds.

The overall revenue generation for the trailing twelve months (TTM) ended September 30, 2025, was approximately $1.07 billion USD, specifically reported as $1,074.77 million.

The breakdown of revenue streams year-to-date through the third quarter of 2025 highlights a significant contribution from non-room operations, a ratio that sets Xenia Hotels & Resorts, Inc. apart from many of its lodging Real Estate Investment Trust (REIT) peers.

Here's how the revenue was split as of YTD Q3 2025:

Revenue Stream Category	Percentage of Total Revenue (YTD Q3 2025)
Rooms revenue	56%
Non-rooms revenue (F&B, banquets, parking, etc.)	44%

The non-rooms revenue component, which makes up 44% of the total, is driven by several operational areas within the hotel properties. For the three months ended September 30, 2025, specific components were:

• Food and Beverage Revenue: $77.8 million.
• Other Revenue: $24.4 million.

The growth rate for non-rooms revenues year-to-date through Q3 2025 was over four times greater than the rooms revenue growth rate. While the prompt mentions rental income from commercial leases within hotel properties as a revenue stream, the specific dollar amount for this component was not found in the latest reports, so we focus on the reported operational revenue segments.

On a profitability metric basis, the Adjusted FFO per diluted share (Funds From Operations) for the nine months ended September 30, 2025, was $1.31, showing a 9.2% increase compared to the same period in 2024.

You can see the quarterly revenue detail for Q3 2025 below, which helps contextualize the percentages:

Revenue Segment (Q3 2025)	Amount
Total Revenues	$236.42 million
Rooms Revenue	$134.2 million
Food and Beverage Revenue	$77.8 million
Other Revenue	$24.4 million