Xenia Hotels & Resorts Inc. 2026年季度报告

Xenia Hotels & Resorts, Inc. XENIA HOTELS & RESORTS, INC.TABLE OF CONTENTS Part I - Financial Information Item 1.Financial Statements (unaudited)Condensed Consolidated Balance Sheets as of March 31, 2026 and December 31, 2025Condensed Consolidated Statements of Operations and Comprehensive Income for the Three Months Item 2.Management's Discussion and Analysis of Financial Condition and Results of OperationsItem 3.Quantitative and Qualitative Disclosures About Market Risk Part II - Other Information Item 1.Legal ProceedingsItem 1A.Risk FactorsItem 2.Unregistered Sales of Equity Securities and Use of Proceeds XENIA HOTELS & RESORTS, INC.Condensed Consolidated Balance SheetsAs of March31, 2026 and December31, 2025(Dollar amounts in thousands, except per share data) XENIA HOTELS & RESORTS, INC.Condensed Consolidated Statements of Operations and Comprehensive Income XENIA HOTELS & RESORTS, INC.Condensed Consolidated Statements of Operations and Comprehensive Income, Continued XENIA HOTELS & RESORTS, INC.Condensed Consolidated Statements of Cash FlowsFor the Three Months Ended March 31, 2026 and 2025 XENIA HOTELS & RESORTS, INC.Condensed Consolidated Statements of Cash Flows, ContinuedFor the Three Months Ended March 31, 2026 and 2025 XENIA HOTELS & RESORTS, INC.Notes to the Condensed Consolidated Financial Statements (Unaudited)March 31, 2026 1. Organization Xenia Hotels & Resorts, Inc. (the "Company" or "Xenia") is a Maryland corporation that invests in uniquely positioned luxury and upperupscale hotels and resorts with a focus on the top 25 lodging markets as well as key leisure destinations in the United States. Substantially all of the Company's assets are held by, and all the operations are conducted through, XHR LP (the "Operating Partnership").XHR GP, Inc. is the sole general partner of the Operating Partnership and is wholly-owned by the Company. As of March31, 2026, theCompany collectively owned 93.2% of the common limited partnership units issued by the Operating Partnership ("Operating PartnershipUnits"). The remaining 6.8% of the Operating Partnership Units are owned by the other limited partners comprised of certain of our Xenia operates as a real estate investment trust ("REIT") for U.S. federal income tax purposes. To qualify as a REIT, the Company cannotoperate or manage its hotels. Therefore, the Operating Partnership and its subsidiaries lease the hotel properties to XHR Holding, Inc. andits subsidiaries (collectively with its subsidiaries, "XHR Holding"), the Company's taxable REIT subsidiary ("TRS"), which engages third- As of March31, 2026 and 2025, the Company owned 30 and 31 lodging properties, respectively. 2. Summary of Significant Accounting Policies The unaudited interim condensed consolidated financial statements and related notes have been prepared on an accrual basis of accountingin accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP" or "GAAP") and in conformitywith the rules and regulations of the Securities and Exchange Commission ("SEC") applicable to financial information. Certaininformation and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been omittedin accordance with the rules and regulations of the SEC. The unaudited condensed consolidated financial statements include normalrecurring adjustments, which management considers necessary for the fair presentation of the condensed consolidated balance sheets, Basis of Presentation The condensed consolidated financial statements include the accounts of the Company, the Operating Partnership, and XHR Holding. TheCompany's subsidiaries generally consist of limited liability companies, limited partnerships and the TRS. The effects of all inter-company Use of Estimates The preparation of the condensed consolidated financial statements in conformity with U.S. GAAP requires management to makeestimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities, andrevenues and expenses. These estimates are prepared using management's best judgment, after considering past, current and expected Risks and Uncertainties For the three months ended March 31, 2026 and 2025, the Company had a geographical concentration of revenues generated from hotels inthe Orlando, Florida, Phoenix, Arizona and Houston, Texas markets that exceeded ten percent (10%) of total revenues for the periods thenended. To the extent that there are adverse changes in these markets, or the industry sectors that operate in these markets, our business and Consolidation The Company evaluates its investments in partially owned entities to determine whether such entities may be a variable interest entity("VIE") or voting interest entity. If the entity is a VIE, the determination of whether the Company is the primary beneficiary must then bemade. The primary beneficiary determin