Xenia Hotels & Resorts Exceeds Expectations with Strong Q1 2026 Performance
Xenia Hotels & Resorts, Inc. recently reported strong first quarter 2026 results that exceeded expectations across all key metrics. The company's portfolio delivered exceptional performance, driven by strength in both the group and transient demand segments.
Marcel Verbaas, Chair and Chief Executive Officer of Xenia Hotels & Resorts, expressed satisfaction with the quarterly results during the Q1 2026 earnings conference call. He noted that the company's same property RevPAR grew 7.4% for the first quarter, with occupancy increasing by 180 basis points and average daily rate increasing by 4.8% compared to the same period last year.
The company also experienced significant growth in non-room revenues, as evidenced by its same property total RevPAR for the quarter growing to $370.13, reflecting an increase of 7.2% as compared to the same quarter last year. Food and beverage revenues increased 6.2% on the same property basis, while other revenues were up nearly 11% for the quarter.
Atish Shah, Executive Vice President and Chief Financial Officer, highlighted the company's focus on disciplined expense management, which drove an improvement in same property hotel EBITDA margin from 27% in the first quarter of 2025 to 29.7% this year, an expansion of 270 basis points.
One notable example of the company's outperformance was Grand Hyatt Scottsdale Resort, which achieved record revenues and hotel EBITDA for the first quarter. The resort has seen successful execution of occupancy driven ramp-up plans that have produced significant transient business volumes to supplement the growing base of group demand.
The improvements at Grand Hyatt Scottsdale Resort have translated throughout the operation into record food and beverage outlets, spa, recreation, parking, and miscellaneous revenues. Expenses have grown at a slower pace as much of the occupancy gains have required relatively limited incremental costs.
Beyond Grand Hyatt Scottsdale Resort, the company experienced broad-based strength across its portfolio of luxury and upper upscale hotels or resorts. Increased group and transient demand contributed to RevPAR and total RevPAR increases in 15 of their 22 markets.
