Xenia Hotels & Resorts Sells Lorien Hotel & Spa in Alexandria, VA for $30 Million

Xenia Hotels & Resorts, also known as Xenia, announced the successful sale of the 107-room Lorien Hotel & Spa in Alexandria, VA. The property was sold for $30 million, representing a price of approximately $280,000 per room. This transaction translates to a 21.3 times multiple and a 3.1% capitalization rate, based on the hotel’s EBITDA and Net Operating Income for the twelve months ending May 31, 2024.

Xenia plans to utilize the proceeds from this sale for general corporate purposes. These activities could include repurchasing shares, reducing debt, funding capital expenditures, and pursuing acquisitions that align with the company’s long-term strategic objectives.

Xenia Hotels & Resorts, Inc. is a self-advised and self-administered Real Estate Investment Trust (REIT) specializing in investing in luxury and upper upscale hotels and resorts. The company’s portfolio strategically targets the top 25 lodging markets and key leisure destinations across the United States. Xenia currently owns 31 hotels, comprising 9,408 rooms in 14 states. These properties fall within the luxury and upper upscale segments, operated or licensed by prominent industry leaders such as Marriott, Hyatt, Kimpton, Fairmont, Loews, Hilton, and The Kessler Collection.

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