Xenia Hotels & Resorts Inc (XHR) Q4 2019 Earnings Call Transcript

Xenia Hotels & Resorts Inc (XHR) Q4 2019 Earnings Call Transcript

Good morning, everyone, and welcome to the fourth quarter and full year 2019 earnings call and webcast for Xenia Hotels & Resorts.. I'm with Marcel Verbaas, our Chairman and Chief Executive Officer; Barry Bloom, our President and Chief Operating Officer; and Atish Shah, our Executive Vice President and Chief Financial Officer.. Our operators' focus on expense controls, while maintaining guest satisfaction, remains exemplary as evidenced by full year same-property hotel EBITDA margin growth of 23 basis points on a 2% increase in same-property portfolio RevPAR.. We have traded lower-quality assets with more limited upside potential for high-quality assets with enhanced growth opportunities, all while maintaining a strong and flexible balance sheet.. We have created a diversified portfolio that we believe will withstand future challenges and create value for shareholders in the long term, as we continue to optimize our assets, many of which are recent additions to our portfolio, through our asset management and project management initiatives.. In the fourth quarter of 2019, we continued our process of portfolio improvements through the completion of three on strategy transactions, the sale of two non-strategic hotels and the acquisition of Hyatt Regency Portland at the Oregon Convention Center.. The sale of Marriott