ORLANDO, Fla., Sept. 25, 2017 /PRNewswire/ -- Xenia Hotels & Resorts, Inc. (NYSE: XHR) ("Xenia" or the "Company") today provided an update regarding the impact of Hurricane Irma on its 120-room Hyatt Centric Key West Resort & Spa. The resort closed on September 6, 2017 following the mandatory evacuation order. The property sustained limited wind damage and water intrusion from the storm and was partially re-opened on September 22, 2017. The Company is working closely with the hotel manager and other professionals to fully assess storm-related damage and complete the necessary restoration. Xenia currently believes the hotel will fully re-open in the next few weeks.
As previously disclosed, Xenia holds property and business interruption insurance at its hotels. Hyatt Centric Key West Resort & Spa is subject to an insurance deductible of approximately $3 million for named storms. The Company is still assessing the financial impact of both Hurricane Harvey and Hurricane Irma, and expects to provide an update to full-year 2017 guidance during its third quarter earnings call.
About Xenia Hotels & Resorts, Inc.
Xenia Hotels & Resorts, Inc. is a self-advised and self-administered REIT that invests primarily in premium full service and lifestyle hotels, with a focus on the top 25 U.S. lodging markets as well as key leisure destinations in the United States. The Company owns 36 hotels, including 34 wholly owned hotels, comprising 10,556 rooms, across 17 states and the District of Columbia. Xenia's hotels are primarily in the luxury and upper upscale segments, and operated and/or licensed by industry leaders such as Marriott®, Hyatt®, Kimpton®, Aston®, Fairmont®, Hilton®, and Loews®, as well as leading independent management companies including Sage Hospitality, The Kessler Collection, Urgo Hotels & Resorts, and Davidson Hotels & Resorts. For more information on Xenia's business, refer to the Company website at www.xeniareit.com.
This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "anticipate," "believe," "expect," "will," "may," "estimate," "plan," "outlook," "forecasts," and "project" and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Forward-looking statements are based on Xenia's current expectations and beliefs, which we believe to be reasonable, and involve a number of risks and uncertainties that are difficult to predict and that could cause actual results to differ materially from those stated or implied by the forward-looking statements. A further description of these risks, uncertainties, and other matters can be found in the Risk Factors detailed in Xenia's Annual Report on Form 10-K as filed on February 28, 2017, as well as other filings we make with the Securities and Exchange Commission. Because forward-looking statements involve risks and uncertainties, actual results and events may differ materially from results and events currently expected by Xenia, and Xenia assumes no obligation and expressly disclaims any duty to update information contained in this news release except as required by law.
For additional information or to receive press releases via email, please visit our website at www.xeniareit.com
SOURCE Xenia Hotels & Resorts, Inc.