Keyword: Xenia Hotels & Resorts
Companies are struggling to deal with the loss of roomnights and uncertainty about what the future will bring.
The portfolio consists of seven Kimpton-managed hotels totaling 1,124 guestrooms.
The purchase price included the complete development cost of the hotel, as well as preopening and startup costs, working capital and supplies.
Housekeepers and food-and-beverage workers formed a picket line outside of the Chicago Marriott at Medical District/UIC earlier this morning.
The Orlando hotel's 25,000-square-foot ballroom addition is scheduled to be completed by fall 2019.
Barry Bloom, president and COO of Xenia Hotels & Resorts, and John Miles, president and CEO of Steelite International, will be the next to serve.
The purchase price of the deal is $163 million, or approximately $201,000 per key.