Xenia Hotels & Resorts has sold the Hyatt Regency Orange County hotel in Garden Grove, California, US, for $137m.

The hotel offers 656 rooms and suites featuring flatscreen TVs and modern decor.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Xenia Hotels & Resorts president and CEO Marcel Verbaas said: "This transaction allowed us to take advantage of the private market valuation for a legacy hotel in our portfolio that we expected to deliver below-average growth as additional supply is entering this competitive and relatively low-rated market.

"This disposition is another step in our evolution as it further exemplifies our ability to enhance our portfolio."

"Given the market’s dynamics and the hotel’s position, we concluded that near-term capital requirements would not represent a prudent additional investment for the company."

The company has retained around $5.9m in the hotel’s capital expenditure reserve account.

See Also:

Verbaas added: "This disposition is another step in our evolution as it further exemplifies our ability to enhance our portfolio through disciplined acquisitions and dispositions, and thoughtful capital allocation."

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Xenia Hotels & Resorts expanded recently in Birmingham, Alabama, with the new Grand Bohemian Hotel Mountain Brook, which features 100 rooms, a grand ballroom and a 24h fitness centre.