Hey Van what's up with the double quote? I have no idea what to do wit that.
Hey I sold CRSR where were you! I had to act all by myself.
Do you like the carparts.com purchase? Please say yes it's too late. I worked all day yesterday to find an idea I had raised cash and knew I would not be able to get in touch with the hedge fund today, I had to buy yesterday.
Xenia Hotels & Resorts disposes two hotel properties
Nov. 24, 2020 4:38 PM ET|About:
Xenia Hotels & Resorts, Inc. (XHR)|By:
Khyathi Dalal, SA News Editor
Xenia Hotels & Resorts (NYSE:
XHR) completed the earlier announced dispositions of the 245-room Hotel Commonwealth in Boston, Massachusetts for $113M (represented an 11.8x multiple on the hotel's 2019 Hotel EBITDA) and the 492-room Renaissance Austin Hotel in Austin, Texas for $70M (represented a 6.8x multiple on its 2019 Hotel EBITDA).
Besides the sale proceeds, the company retained $6.6M in cash that was held in the properties' FF&E reserves; sale proceeds to be used for repaying borrowings under the line of credit and for general corporate purposes.
YTD, the company has now sold four hotels for ~$400M.
Including the dispositions of Residence Inn Boston Cambridge and Marriott Napa Valley Hotel & Spa, which were both completed in October, the combined sale prices of the four properties sold by the company in 2020 represented an ~10x multiple on 2019 Hotel EBITDA.
weird... man in red shirt holding stomach--