Hyatt Regency Portland

Xenia Hotels & Resorts, Inc. (NYSE: XHR) ("Xenia" or the "Company") today announced it has acquired the newly developed 600-room Hyatt Regency Portland at the Oregon Convention Center located in Portland, Oregon for a purchase price of $190 million, or approximately $317,000 per key. The purchase price includes the complete development cost of the hotel, as well as pre-opening and startup costs, working capital, and all supplies to ensure the hotel was fully operational upon opening. The acquisition was funded with cash available on the Company's balance sheet and its senior unsecured credit facility. The Company does not anticipate the hotel to materially impact the Company's EBITDA during the remainder of 2019.

Opening its doors to guests on December 19, 2019, the 14-story upper upscale hotel features 600 rooms, 39,000 square feet of meeting space, three food and beverage outlets, a Regency Club, and a Hyatt StayFit Gym. The hotel is ideally located in Downtown Portland's Lloyd neighborhood in close proximity to the Oregon Convention Center, Legacy Medical Research Institute, Moda Center, Veterans Memorial Colosseum, Lloyd Center, and the eastside entertainment, dining and shopping attractions.

Hotel website