Xenia Hotels & Resorts Provides Update On Impact From Hurricanes Irma And Harvey

Xenia Hotels & Resorts Provides Update On Impact From Hurricanes Irma And Harvey

PR Newswire (paid press release):

The 120-room Hyatt Centric Key West Resort & Spa located in Key West, Florida is currently closed. The resort’s employees and guests were evacuated in advance of Hurricane Irma making landfall.  The Company is currently unable to provide further updates regarding the property’s physical condition or when it is expected to re-open, as it will be performing a complete assessment as soon as circumstances allow.

The Company’s corporate office located in Orlando did not sustain any significant damage and is fully operational.

As it relates to Hurricane Harvey, further inspections of the Company’s Houston and Austin hotels confirmed that none of the hotels experienced significant property damage, and all four hotels in these markets are open and operating. 

Xenia maintains property and business interruption insurance at its hotels, including those affected by the storms.  The Company will continue to evaluate the financial impact from both storms and its ability to recover any insurance proceeds from property damage and/or lost income through insurance policies in place at the hotels. 

“Our thoughts continue to be with the people in all locations impacted by these two destructive storms,” commented Marcel Verbaas, President and Chief Executive Officer of Xenia.  “We are very proud of the efforts the hotels have put forth to cater to the needs of guests and associates, as well as to the communities in which they are located.”

About Xenia Hotels & Resorts, Inc.
Xenia Hotels & Resorts, Inc. is a self-advised and self-administered REIT that invests primarily in premium full service and lifestyle hotels, with a focus on the top 25 U.S. lodging markets as well as key leisure destinations in the United States. The Company owns 36 hotels, including 34 wholly owned hotels, comprising 10,556 rooms, across 17 states and the District of Columbia. Xenia’s hotels are primarily in the luxury and upper upscale segments, and operated and/or licensed by industry leaders such as Marriott®, Hyatt®, Kimpton®, Aston®, Fairmont®, Hilton®, and Loews®, as well as leading independent management companies including Sage Hospitality, The Kessler Collection, Urgo Hotels & Resorts, and Davidson Hotels & Resorts. For more information on Xenia’s business, refer to the Company website at www.xeniareit.com.

This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “anticipate,” “believe,” “expect,” “will,” “may,” “estimate,” “plan,” “outlook,” “forecasts,” and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Forward-looking statements are based on Xenia’s current expectations and beliefs, which we believe to be reasonable, and involve a number of risks and uncertainties that are difficult to predict and that could cause actual results to differ materially from those stated or implied by the forward-looking statements. A further description of these risks, uncertainties, and other matters can be found in the Risk Factors detailed in Xenia’s Annual Report on Form 10-K as filed on February 28, 2017, as well as other filings we make with the Securities and Exchange Commission. Because forward-looking statements involve risks and uncertainties, actual results and events may differ materially from results and events currently expected by Xenia, and Xenia assumes no obligation and expressly disclaims any duty to update information contained in this news release except as required by law.

For additional information or to receive press releases via email, please visit our website at
www.xeniareit.com

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SOURCE Xenia Hotels & Resorts, Inc.

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