May 26, 2022

Xenia Hotels & Resorts (NYSE:XHR) reports an update on the previously declared pending disposition of Renaissance Austin Hotel

Xenia Hotels & Resorts (NYSE:XHR) stock identified change of 43.15% away from 52-week low price and recently located move of -61.47% off 52-week high price. It has market worth of $1.01B . XHR stock has been recorded -32.73% away from 50 day moving average and -52.73% away from 200 day moving average. Moving closer, we can see that shares have been trading -4.75% off 20-day moving average.

On April 17, 2020, Xenia Hotels & Resorts (NYSE:XHR) provided an update on the previously declared pending disposition of Renaissance Austin Hotel, as well as an update on the impact of COVID-19 on its operations.

On March 31, 2020, Xenia released that it had amended its agreement to sell the 492-room Renaissance Austin Hotel to extend the closing until April 16, 2020.  The transaction did not close as contemplated by the amended agreement and as a result, the agreement has been terminated.   The Company has retained the $2 million deposit that was previously released from escrow.

Since the Company last issued an update on operating performance, it has temporarily suspended operations at an additional 7 hotels bringing the total number to 31 properties.  The Company’s remaining 8 properties are currently operating at reduced levels; however, the Company continues to work with its operators to evaluate the demand and operations at these hotels and may elect to suspend operations in the future as a result of the COVID-19 pandemic.  The Company continues to monitor all governmental directives and other factors impacting operations as it evaluates potential future re-opening dates for its properties that have temporarily suspended operations.

The Financial sector company, Xenia Hotels & Resorts noticed change of -0.22% to $8.99 along volume of 1155052 shares in recent session compared to an average volume of 1.08M. The stock observed return of -10.10% in 5 days trading activity. The stock was at 32.01% over one month performance. XHR’s shares are at -56.36% for the quarter and driving a -57.79% return over the course of the past year and is now at -58.40% since this point in 2018.

The average volatility for the week at 9.62% and for month was at 14.29%. There are 112.64M shares outstanding and 112.33M shares are floated in market. Right now the stock beta is 1.38.

Dennis Morris writes related to the Business Category. He manages to cover anything thrown at him in these two verticals owing to his natural inclination towards Business. Dennis is our freelance contributor. He is responsible for covering developments in finance and business categories.