Xenia Hotels & Resorts, Inc. · NYSE:XHR
Xenia Hotels & Resorts — Investor Presentation (June 2015)
20 slides from Xenia Hotels & Resorts's investor presentation, Jun 10, 2015
Slide 1: Investor Presentation June 2015
Investor Presentation June 2015
Slide 2: Forward-Looking Statements; Non-GAAP Financial Measures
2 Forward-Looking Statements; Non-GAAP Financial Measures This presentation has been prepared by Xenia Hotels & Resorts, Inc. (the “Company” or “Xenia”) solely for informational purposes. This presentation contains, and our responses to various questions from investors may include, “forward-looking
Slide 3: Overview of Xenia
3 Overview of Xenia National platform of high quality assets focused on the Top 25 Markets1 and key leisure destinations in the U.S. Invest primarily in premium full service, lifestyle and urban upscale assets Unique market and asset type investment strategy drives growth potential Internall
Slide 4: Seasoned Management Team with Strong Governance
4 Seasoned Management Team with Strong Governance Marcel Verbaas President & CEO IA Lodging / Xenia CEO since 2007 Previously CIO of CNL Hotels & Resorts Andrew J. Welch EVP & CFO Joined IA Lodging / Xenia as CFO in June 2014 Previously EVP & CFO of FelCor Lodging Trust (NYSE: FCH) Barry A.N
Slide 5: Strong Independent Board
5 Strong Independent Board Marcel Verbaas (President & CEO) IA Lodging / Xenia CEO since 2007 Previously CIO of CNL Hotels & Resorts Jeffrey H. Donahue (Chairman) Audit Chairman of Health Care REIT (NYSE: HCN) since Apr 2014; director since 1997 Former President and CEO of Enterprise Commu
Slide 6: Strong Corporate Governance Structure
6 Strong Corporate Governance Structure 7 of the 8 members of our board satisfy listing standards for independence of the NYSE Independent Board Chairman Non-staggered board with each director subject to re-election annually No InvenTrust board representation Transition Services Agreement
Slide 7: Timeline of Xenia Formation and Portfolio Evolution
7 Timeline of Xenia Formation and Portfolio Evolution Divested 89 non-core primarily legacy select service hotels for $1.4bn1 (2009-2014) Xenia established its platform in 2007 as Inland American Lodging Group and has been executing its current portfolio repositioning strategy since 2009, driving si
Slide 8: Differentiated Investment Strategy
8 Differentiated Investment Strategy Premium Full Service Urban Upscale Lifestyle Andaz Savannah Hilton Garden Inn Chicago North Shore / Evanston Marriott Woodlands Waterway Hotel Range of target segments enable investments that are well suited for specific markets
Slide 9: Recent Acquisitions In-Line with Investment Strategy
9 (1) Hotel Monaco Portfolio includes hotels operating under Kimpton’s Monaco flag in Chicago, Denver and Salt Lake City. (2) Andaz Portfolio includes hotels operating under Hyatt’s Andaz flag in Napa and Savannah. (3) Westin Galleria Houston and Westin Oaks Houston at the Galleria were purchased in
Slide 10: Track Record of Targeted Growth
10 Number of Hotels Occupancy¹ Average Daily Rate¹ RevPAR¹ Note: Includes full-year (or full period) data for any hotel acquired during the applicable period. (1) For only those hotels operated by Marriott, our historical annual operating results represented here from 2011 to 2013 include a 52-53 we
Slide 11: Portfolio Overview
11 Chain Scale Brand Family Property Managers1 Note: Categories by number of rooms. Totals may not equal 100% due to rounding. (1) Other managers include: Kessler, Concord, Kimpton, Interstate, Loews and White Lodging. Portfolio Overview Upper Upscale 66% Luxury 10% Upscale 22% Upper Midscale 2% Hig
Slide 12: Portfolio Overview (cont.)
12 Portfolio Overview (cont.) HI FL NM DE MD TX OK KS NE SD NDMT WY CO UT ID AZ NV WA CA OR KY ME NY PA VT NH RI CT WV INIL NC TN SC AL MS AR LA MO IA MN WI NJ GA DC VA OH MI MA Hotels Under DevelopmentOperating Hotels National footprint in 31 markets with a focused presence in key growth states suc
Slide 13: Segment Snapshot: Premium Full Service Assets
13 Segment Snapshot: Premium Full Service Assets Marriott San Francisco Airport: — Acquired from large hotel REIT in 2012 — Recently completed significant guest room renovation and bathroom conversion — In partnership with Marriott, launched the first “M Club Lounge” in the Marriott system — Recen
Slide 14: Segment Snapshot: Lifestyle Assets
14 Segment Snapshot: Lifestyle Assets Hotel Monaco Denver: — Acquired from institutional investor in 2013 — Boutique Kimpton-branded hotel in the heart of downtown Denver — Benefits from diverse demand drivers in the Denver market Hotel Monaco Denver Grand Bohemian Hotel Orlando: — Acquired from
Slide 15: Segment Snapshot: Urban Upscale Assets
15 Segment Snapshot: Urban Upscale Assets Hilton Garden Inn Washington DC: — Acquired in a portfolio acquisition from hotel investment fund in 2008 — Walking distance to the White House, National Mall and government/corporate demand generators — Recently renovated lobby and guest rooms Hilton Gard
Slide 16: Asset Management Platform with Uniquely Integrated Capabilities
16 Asset Management Platform with Uniquely Integrated Capabilities Integrated Platform Revenue enhancement Cost containment Frequent interaction with management companies Integrated with asset management team to identify and execute new opportunities at attractive costs Development experti
Slide 17: U.S. Supply and Demand Trends
17 Source: Smith Travel Research; PKF Hospitality Research (2015F-2019F) Long-term supply average: 1.7% Long-term demand average: 1.7% Recession: Mar 2001-Nov 2001 Recession: Dec 2007-Jun 2009 -8.0% -6.0% -4.0% -2.0% 0.0% 2.0% 4.0% 6.0% 8.0% Room Supply Room Demand Long Term Supply Average Long Term
Slide 18: Staggered Debt Maturity Profile
18 Staggered Debt Maturity Profile Manageable near-term debt maturities with significant embedded equity value and opportunity to reduce cost of capital Debt $1,180 mm Fixed / Floating 52.5% / 47.5% Wtd. Avg. Interest Rate 4.01% # Unencumbered Assets 19 Fixed Floating WA Fixed Rate Maturing Debt 5.4
Slide 19: First Quarter Highlights
19 First Quarter Highlights Separation from InvenTrust Successfully completed the spin-off from its former parent InvenTrust on February 3, 2014. Listing of Shares on NYSE Company began trading on the New York Stock Exchange under the symbol “XHR” on February 4 Rang The Opening Bell to celebra
Slide 20: Non-GAAP Financial Measures
20 Non-GAAP Financial Measures We consider the following non-GAAP financial measures useful to investors as key supplemental measures of our operating performance: EBITDA, Adjusted EBITDA, FFO and Adjusted FFO. These non-GAAP financial measures should be considered along with, but not as alternative
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