2019 Q1 Form 10-Q Financial Statement

#000161600019000041 Filed on May 02, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q1
Revenue $293.7M $264.5M
YoY Change 11.04% 21.07%
Cost Of Revenue $195.9M $171.4M
YoY Change 14.3% 22.0%
Gross Profit $97.80M $93.12M
YoY Change 5.02% 19.4%
Gross Profit Margin 33.3% 35.21%
Selling, General & Admin $92.30M $82.90M
YoY Change 11.34% 13.56%
% of Gross Profit 94.38% 89.03%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $39.27M $37.97M
YoY Change 3.45% 4.64%
% of Gross Profit 40.16% 40.77%
Operating Expenses $132.3M $121.7M
YoY Change 8.71% 11.14%
Operating Profit $36.07M $32.83M
YoY Change 9.87% 61.02%
Interest Expense $12.59M $13.72M
YoY Change -8.24% 35.14%
% of Operating Profit 34.89% 41.78%
Other Income/Expense, Net $95.00K $387.0K
YoY Change -75.45% 154.61%
Pretax Income $23.37M $61.71M
YoY Change -62.13% 493.74%
Income Tax $6.100M $4.664M
% Of Pretax Income 26.1% 7.56%
Net Earnings $16.70M $55.66M
YoY Change -69.99% 576.5%
Net Earnings / Revenue 5.69% 21.04%
Basic Earnings Per Share $0.52
Diluted Earnings Per Share $147.9K $0.52
COMMON SHARES
Basic Shares Outstanding 112.6M shares 106.8M shares
Diluted Shares Outstanding 112.9M shares 107.0M shares

Balance Sheet

Concept 2019 Q1 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $74.50M $255.5M
YoY Change -70.84% 26.24%
Cash & Equivalents $74.46M $255.5M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $63.30M $49.50M
Other Receivables $0.00 $0.00
Total Short-Term Assets $137.8M $305.0M
YoY Change -54.82% 29.95%
LONG-TERM ASSETS
Property, Plant & Equipment $2.894B $2.684B
YoY Change 7.84% 11.62%
Goodwill $25.00M
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $69.80M $62.30M
YoY Change 12.04% -27.47%
Total Long-Term Assets $3.043B $2.863B
YoY Change 6.32% 10.11%
TOTAL ASSETS
Total Short-Term Assets $137.8M $305.0M
Total Long-Term Assets $3.043B $2.863B
Total Assets $3.181B $3.168B
YoY Change 0.43% 11.75%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $91.70M $79.80M
YoY Change 14.91% 21.83%
Accrued Expenses $27.90M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $151.3M $109.7M
YoY Change 37.92% 14.99%
LONG-TERM LIABILITIES
Long-Term Debt $1.150B $1.328B
YoY Change -13.42% 23.31%
Other Long-Term Liabilities $46.40M $47.30M
YoY Change -1.9% 58.72%
Total Long-Term Liabilities $1.196B $1.375B
YoY Change -13.02% 24.27%
TOTAL LIABILITIES
Total Short-Term Liabilities $151.3M $109.7M
Total Long-Term Liabilities $1.196B $1.375B
Total Liabilities $1.348B $1.485B
YoY Change -9.25% 23.54%
SHAREHOLDERS EQUITY
Retained Earnings -$264.0M -$294.8M
YoY Change -10.44% -8.85%
Common Stock $1.127M $1.069M
YoY Change 5.43% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.803B $1.649B
YoY Change
Total Liabilities & Shareholders Equity $3.181B $3.168B
YoY Change 0.43% 11.75%

Cashflow Statement

Concept 2019 Q1 2018 Q1
OPERATING ACTIVITIES
Net Income $16.70M $55.66M
YoY Change -69.99% 576.5%
Depreciation, Depletion And Amortization $39.27M $37.97M
YoY Change 3.45% 4.64%
Cash From Operating Activities $33.64M $42.76M
YoY Change -21.33% 24.98%
INVESTING ACTIVITIES
Capital Expenditures -$13.30M -$23.90M
YoY Change -44.35% 81.06%
Acquisitions
YoY Change
Other Investing Activities $0.00 $196.9M
YoY Change -100.0%
Cash From Investing Activities -$13.26M $173.0M
YoY Change -107.66% -1409.56%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00 $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$37.74M -$28.38M
YoY Change 33.0% -22.17%
NET CHANGE
Cash From Operating Activities $33.64M $42.76M
Cash From Investing Activities -$13.26M $173.0M
Cash From Financing Activities -$37.74M -$28.38M
Net Change In Cash -$17.36M $187.4M
YoY Change -109.26% -1312.58%
FREE CASH FLOW
Cash From Operating Activities $33.64M $42.76M
Capital Expenditures -$13.30M -$23.90M
Free Cash Flow $46.94M $66.66M
YoY Change -29.59% 40.59%

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CY2018Q4 us-gaap Other Assets
OtherAssets
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CY2019Q1 us-gaap Other Assets
OtherAssets
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CY2018Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
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CY2019Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
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CY2018Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
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CY2019Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
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1413000 USD
CY2018Q1 us-gaap Other Cost Of Operating Revenue
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4474000 USD
CY2019Q1 us-gaap Other Cost Of Operating Revenue
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CY2018Q4 us-gaap Other Liabilities
OtherLiabilities
45753000 USD
CY2019Q1 us-gaap Other Liabilities
OtherLiabilities
74294000 USD
CY2018Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
387000 USD
CY2019Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
95000 USD
CY2018Q1 us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
23875000 USD
CY2019Q1 us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
13260000 USD
CY2018Q1 us-gaap Payments Of Dividends Common Stock
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29737000 USD
CY2019Q1 us-gaap Payments Of Dividends Common Stock
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31338000 USD
CY2018Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
3661000 USD
CY2019Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
0 USD
CY2018Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1021000 USD
CY2019Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
598000 USD
CY2018Q1 us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
65000000 USD
CY2019Q1 us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
0 USD
CY2018Q1 us-gaap Proceeds From Issuance Of Unsecured Debt
ProceedsFromIssuanceOfUnsecuredDebt
0 USD
CY2019Q1 us-gaap Proceeds From Issuance Of Unsecured Debt
ProceedsFromIssuanceOfUnsecuredDebt
85000000 USD
CY2018Q1 us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
79000 USD
CY2019Q1 us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
0 USD
CY2018Q1 us-gaap Proceeds From Sales Of Assets Investing Activities
ProceedsFromSalesOfAssetsInvestingActivities
196920000 USD
CY2019Q1 us-gaap Proceeds From Sales Of Assets Investing Activities
ProceedsFromSalesOfAssetsInvestingActivities
0 USD
CY2018Q1 us-gaap Profit Loss
ProfitLoss
57043000 USD
CY2019Q1 us-gaap Profit Loss
ProfitLoss
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CY2018Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
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CY2019Q1 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
754681000 USD
CY2018Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
3591095000 USD
CY2019Q1 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
3602008000 USD
CY2018Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
2875146000 USD
CY2019Q1 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
2847327000 USD
CY2018Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
40000000 USD
CY2019Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
0 USD
CY2018Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
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CY2018Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
70195000 USD
CY2019Q1 us-gaap Restricted Cash And Cash Equivalents
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CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
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CY2019Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
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CY2018Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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CY2019Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2019Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2018Q4 us-gaap Secured Debt
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CY2019Q1 us-gaap Secured Debt
SecuredDebt
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CY2018Q1 us-gaap Share Based Compensation
ShareBasedCompensation
2070000 USD
CY2019Q1 us-gaap Share Based Compensation
ShareBasedCompensation
1894000 USD
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
0 shares
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
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CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
1859774 shares
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
2701774 shares
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
9.35
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
165961 shares
CY2018Q1 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
0 shares
CY2019Q1 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
0 shares
CY2018Q1 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0 shares
CY2019Q1 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0 shares
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
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CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
1803303000 USD
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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1645086000 USD
CY2018Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1682437000 USD
CY2018Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2019Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1833557000 USD
CY2018Q1 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
37000 USD
CY2019Q1 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
0 USD
CY2018Q1 us-gaap Undistributed Earnings Loss Available To Common Shareholders Basic
UndistributedEarningsLossAvailableToCommonShareholdersBasic
55467000 USD
CY2019Q1 us-gaap Undistributed Earnings Loss Available To Common Shareholders Basic
UndistributedEarningsLossAvailableToCommonShareholdersBasic
16560000 USD
CY2019Q1 us-gaap Variable Interest Entity Ownership Percentage
VariableInterestEntityOwnershipPercentage
1.00
CY2019Q1 us-gaap Variable Lease Cost
VariableLeaseCost
564000 USD
CY2018Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
217993 shares
CY2019Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
288395 shares
CY2018Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
107010343 shares
CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
112907539 shares
CY2018Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
106792350 shares
CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
112619144 shares
CY2018Q1 xhr Amortizationof Market Leasesand Other Leasetangibles
AmortizationofMarketLeasesandOtherLeasetangibles
876000 USD
CY2019Q1 xhr Amortizationof Market Leasesand Other Leasetangibles
AmortizationofMarketLeasesandOtherLeasetangibles
801000 USD
CY2018Q1 xhr Common Stock Maximum Authorized Pursuant To At The Market Agreements Value
CommonStockMaximumAuthorizedPursuantToAtTheMarketAgreementsValue
200000000 USD
CY2019Q1 xhr Common Stock Remaining Available Pursuant To At The Market Agreements Value
CommonStockRemainingAvailablePursuantToAtTheMarketAgreementsValue
62600000 USD
CY2018Q1 xhr Effective Income Tax Rate Reconciliation At Combined Federaland State Statutory Rate
EffectiveIncomeTaxRateReconciliationAtCombinedFederalandStateStatutoryRate
0.2811
CY2019Q1 xhr Effective Income Tax Rate Reconciliation At Combined Federaland State Statutory Rate
EffectiveIncomeTaxRateReconciliationAtCombinedFederalandStateStatutoryRate
0.3039
CY2019Q1 xhr Longterm Debt Maturities Repaymentsof Principal After Year Five Weighted Average Interest Rate
LongtermDebtMaturitiesRepaymentsofPrincipalAfterYearFiveWeightedAverageInterestRate
0.0430
CY2019Q1 xhr Longterm Debt Maturities Repaymentsof Principal Remainder Of Fiscal Year Weighted Average Interest Rate
LongtermDebtMaturitiesRepaymentsofPrincipalRemainderOfFiscalYearWeightedAverageInterestRate
0.0431
CY2019Q1 xhr Longterm Debt Maturities Repaymentsof Principalin Year Five Weighted Average Interest Rate
LongtermDebtMaturitiesRepaymentsofPrincipalinYearFiveWeightedAverageInterestRate
0.0401
CY2019Q1 xhr Longterm Debt Maturities Repaymentsof Principalin Year Four Weighted Average Interest Rate
LongtermDebtMaturitiesRepaymentsofPrincipalinYearFourWeightedAverageInterestRate
0.0354
CY2019Q1 xhr Longterm Debt Maturities Repaymentsof Principalin Year Three Weighted Average Interest Rate
LongtermDebtMaturitiesRepaymentsofPrincipalinYearThreeWeightedAverageInterestRate
0.0284
CY2019Q1 xhr Longterm Debt Maturities Repaymentsof Principalin Year Two Weighted Average Interest Rate
LongtermDebtMaturitiesRepaymentsofPrincipalinYearTwoWeightedAverageInterestRate
0.0399
CY2018Q1 xhr Net Income Loss Attributableto Noncontrolling Interestin Consolidated Real Estate Entities
NetIncomeLossAttributabletoNoncontrollingInterestinConsolidatedRealEstateEntities
-179000 USD
CY2019Q1 xhr Net Income Loss Attributableto Noncontrolling Interestin Consolidated Real Estate Entities
NetIncomeLossAttributabletoNoncontrollingInterestinConsolidatedRealEstateEntities
0 USD
CY2018Q1 xhr Net Income Loss Attributableto Noncontrolling Interestof Common Unitsin Operating Partnership
NetIncomeLossAttributabletoNoncontrollingInterestofCommonUnitsinOperatingPartnership
1566000 USD
CY2019Q1 xhr Net Income Loss Attributableto Noncontrolling Interestof Common Unitsin Operating Partnership
NetIncomeLossAttributabletoNoncontrollingInterestofCommonUnitsinOperatingPartnership
573000 USD
CY2019Q1 xhr Number Of Top Lodging Markets For Investing
NumberOfTopLodgingMarketsForInvesting
25 market
CY2019Q1 xhr Operating Lease Including Available Extension Options Weighted Average Remaining Lease Term
OperatingLeaseIncludingAvailableExtensionOptionsWeightedAverageRemainingLeaseTerm
P62Y
CY2018Q1 xhr Real Estate Taxes Personal Property Taxesand Insurance
RealEstateTaxesPersonalPropertyTaxesandInsurance
11859000 USD
CY2019Q1 xhr Real Estate Taxes Personal Property Taxesand Insurance
RealEstateTaxesPersonalPropertyTaxesandInsurance
13059000 USD
CY2019Q1 xhr Recourse Debt
RecourseDebt
0 USD
CY2018Q1 xhr Repaymentsof Secured Debt Payoffs
RepaymentsofSecuredDebtPayoffs
18344000 USD
CY2019Q1 xhr Repaymentsof Secured Debt Payoffs
RepaymentsofSecuredDebtPayoffs
90000000 USD
CY2018Q1 xhr Repaymentsof Secured Debt Principal Payments
RepaymentsofSecuredDebtPrincipalPayments
693000 USD
CY2019Q1 xhr Repaymentsof Secured Debt Principal Payments
RepaymentsofSecuredDebtPrincipalPayments
804000 USD
CY2019Q1 xhr Sharebased Compensation Arrangementby Sharebased Payment Award Equity Instruments Otherthan Options Expiredin Period
SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsExpiredinPeriod
0 shares
CY2019Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:12px;padding-top:12px;text-align:start;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:underline;">Risks and Uncertainties</font></div><div style="line-height:120%;padding-bottom:12px;padding-top:0px;text-align:left;padding-left:0px;text-indent:0px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">For the&#160;</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">three months ended</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;"> </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">March&#160;31, 2019</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;"> and </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">2018</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">, the Company had a geographical concentration of revenues generated from hotels in the Orlando, Florida and Phoenix, Arizona markets that exceeded </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">10%</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;"> of total revenues for each of the respective periods.</font></div><div style="line-height:120%;padding-bottom:12px;padding-top:0px;text-align:left;padding-left:0px;text-indent:0px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">To the extent that there are adverse changes in these markets, or the industry sectors that operate in these markets, our business and operating results could be negatively impacted. The state of the overall economy can significantly impact hotel operational performance and thus, impact the Company's financial condition. Should any of our hotels experience a significant decline in operational performance, it may affect the Company's results of operations, ability to make distributions to our stockholders, service debt, or meet other financial obligations.</font></div></div>
CY2019Q1 us-gaap Nature Of Operations
NatureOfOperations
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:12px;padding-top:12px;padding-left:0px;text-indent:0px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:normal;font-weight:bold;text-decoration:none;"></font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:normal;font-weight:bold;text-decoration:none;">Organization</font></div><div style="line-height:120%;padding-bottom:12px;padding-top:0px;text-align:left;padding-left:0px;text-indent:0px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">Xenia Hotels &amp; Resorts, Inc. (the "Company" or "Xenia") is a Maryland corporation that invests primarily in uniquely positioned luxury and upper upscale hotels and resorts in the Top </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">25</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;"> lodging markets as well as key leisure destinations in the United States ("U.S."). </font></div><div style="line-height:120%;padding-bottom:12px;padding-top:0px;text-align:left;padding-left:0px;text-indent:0px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">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 XHR LP and is wholly owned by the Company. As of </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">March&#160;31, 2019</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">, the Company collectively owned </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">96.7%</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;"> of the common limited partnership units issued by the Operating Partnership ("Operating Partnership Units"). The remaining </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">3.3%</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;"> of the Operating Partnership Units are owned by the other limited partners comprised of certain of our current executive officers and members of our Board of Directors and includes unvested long-term incentive plan ("LTIP") partnership units. LTIP partnership units may or may not vest based on the passage of time and meeting certain market-based performance objectives. </font></div><div style="line-height:120%;padding-bottom:12px;padding-top:0px;text-align:left;padding-left:0px;text-indent:0px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">Xenia operates as a real estate investment trust ("REIT"). To qualify as a REIT the Company cannot operate or manage its hotels. Therefore, the Operating Partnership and its subsidiaries lease the hotel properties to XHR Holding, Inc. and its subsidiaries (collectively with its subsidiaries, "XHR Holding"), the Company's taxable REIT subsidiary ("TRS"), which engages third-party eligible independent contractors to manage the hotels. </font></div><div style="line-height:120%;padding-bottom:12px;padding-top:0px;text-align:left;padding-left:0px;text-indent:0px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">As of </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">March&#160;31, 2019</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">, the Company owned </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">40</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;"> lodging properties. As of March&#160;31, 2018, the Company owned </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">38</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;"> lodging properties, </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">36</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;"> of which were wholly owned. The remaining </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">two</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;"> hotels were owned through individual investments in real estate entities, in which the Company had a </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">75%</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;"> ownership interest in each investment, and were previously consolidated. In October 2018, the Company acquired the remaining </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">25%</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;"> ownership interest in these investments and now owns </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">100%</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;"> of these entities.</font></div></div>
CY2019Q1 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:12px;padding-top:12px;text-align:start;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:underline;">Reclassifications</font></div><div style="line-height:120%;padding-bottom:12px;padding-top:0px;text-align:left;padding-left:0px;text-indent:0px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">Certain prior year amounts in these financial statements have been reclassified to conform to the presentation as of and for the </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">three months ended</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;"> </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">March&#160;31, 2019</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">.</font></div></div>
CY2019Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:12px;padding-top:12px;text-align:start;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:underline;">Use of Estimates</font></div><div style="line-height:120%;padding-bottom:12px;padding-top:0px;text-align:left;padding-left:0px;text-indent:0px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">The preparation of the condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities, and revenues and expenses. These estimates are prepared using management's best judgment, after considering past, current and expected economic conditions. Actual results could differ from these estimates.</font></div></div>

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