Xenia Hotels & Resorts sells Fairmont Dallas for $111M, aims to refocus portfolio and avoid capex

From Nasdaq: 2025-04-11 18:05:00

Xenia Hotels & Resorts sold the Fairmont Dallas for $111 million, or $203,670 per key, with an 8.6x Hotel EBITDA multiple and a 10% cap rate. The sale aims to upgrade the portfolio and avoid renovation costs due to the Dallas Convention Center redevelopment. Proceeds may be used for corporate needs, such as debt reduction or acquisitions. Despite pandemic challenges, Xenia achieved an 11.3% unlevered IRR since acquiring the hotel in 2011 for $69 million. XHR closed at $9.79 on Friday, up 0.41%, and is currently trading at $9.79 in after-hours, showing a 0.10% gain on the NYSE.



Read more at Nasdaq: Xenia Sells Fairmont Dallas For $111M To Refocus Portfolio And Avoid $80M Capex