Xenia Hotels reports Q3 EPS (14c), consensus (16c)

Reports Q3 revenue $236.42M, consensus $235.77M. “Our third quarter performance met our expectations and reflected a challenging operating environment in the lodging industry as a whole, including muted leisure demand during the summer months,” said Marcel Verbaas, Chair and Chief Executive Officer of Xenia. “The Houston market in particular, which faced tough comparisons due to a short-term demand lift from Hurricane Beryl in the third quarter of last year, was a drag on portfolio performance. Despite these challenges, Same-Property RevPAR for the quarter was flat and, excluding our assets in Houston, increased 2.9% aided by significant year over year growth at Grand Hyatt Scottsdale as the resort continues its track to post-renovation stabilization.”