Xenia Hotels & Resorts Declares Dividend For Fourth Quarter 2023 And Announces Board Approval For A $100 Million Increase In Share Repurchase Program

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Nov 17, 2023, 06:30 ET

ORLANDO, Fla., Nov. 17, 2023 /PRNewswire/ -- Xenia Hotels & Resorts, Inc. (NYSE: XHR) ("Xenia" or the "Company") today announced that its Board of Directors authorized a cash dividend of $0.10 per share of the Company's common stock for the fourth quarter 2023. The dividend will be paid on January 12, 2024, to all holders of record of the Company's common stock as of the close of business on December 29, 2023.

In addition, the Company's Board of Directors authorized the repurchase of up to an additional $100 million of the Company's outstanding common shares. Repurchases may be made in the open market and privately negotiated transactions, or by other means, including Rule 10b5-1 trading plans. The repurchase program may be suspended or discontinued at any time and does not obligate the Company to acquire any particular amount of shares. Inclusive of this additional authorization, the Company had approximately $164 million remaining under its total repurchase authorization as of November 16, 2023.

About Xenia Hotels & Resorts, Inc.
Xenia Hotels & Resorts, Inc. is a self-advised and self-administered REIT that invests in uniquely positioned luxury and upper upscale hotels and resorts, with a focus on the top 25 lodging markets as well as key leisure destinations in the United States. The Company owns 32 hotels comprising 9,511 rooms across 14 states. Xenia's hotels are in the luxury and upper upscale segments and operated and/or licensed by industry leaders such as Marriott, Hyatt, Kimpton, Fairmont, Loews, Hilton, The Kessler Collection, and Davidson. For more information on Xenia's business, refer to the Company website at www.xeniareit.com.

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SOURCE Xenia Hotels & Resorts, Inc.