XHR Xenia Hotels and Resorts Inc

00016160002020FYfalseP3MP2YP2YP3MP2Yus-gaap:OtherAssetsus-gaap:OtherLiabilities00016160002020-01-012020-12-31iso4217:USD00016160002020-06-30xbrli:shares00016160002021-02-2600016160002020-12-3100016160002019-12-31iso4217:USDxbrli:shares0001616000us-gaap:OccupancyMember2020-01-012020-12-310001616000us-gaap:OccupancyMember2019-01-012019-12-310001616000us-gaap:OccupancyMember2018-01-012018-12-310001616000us-gaap:FoodAndBeverageMember2020-01-012020-12-310001616000us-gaap:FoodAndBeverageMember2019-01-012019-12-310001616000us-gaap:FoodAndBeverageMember2018-01-012018-12-310001616000us-gaap:HotelOtherMember2020-01-012020-12-310001616000us-gaap:HotelOtherMember2019-01-012019-12-310001616000us-gaap:HotelOtherMember2018-01-012018-12-3100016160002019-01-012019-12-3100016160002018-01-012018-12-310001616000xhr:HotelOtherDirectMember2020-01-012020-12-310001616000xhr:HotelOtherDirectMember2019-01-012019-12-310001616000xhr:HotelOtherDirectMember2018-01-012018-12-310001616000xhr:HotelOtherIndirectMember2020-01-012020-12-310001616000xhr:HotelOtherIndirectMember2019-01-012019-12-310001616000xhr:HotelOtherIndirectMember2018-01-012018-12-310001616000us-gaap:ManagementServiceMember2020-01-012020-12-310001616000us-gaap:ManagementServiceMember2019-01-012019-12-310001616000us-gaap:ManagementServiceMember2018-01-012018-12-310001616000us-gaap:CommonStockMember2017-12-310001616000us-gaap:AdditionalPaidInCapitalMember2017-12-310001616000us-gaap:AociIncludingPortionAttributableToNoncontrollingInterestMember2017-12-310001616000us-gaap:RetainedEarningsMember2017-12-310001616000xhr:OperatingPartnershipMember2017-12-310001616000xhr:ConsolidatedRealEstateEntitiesMember2017-12-310001616000us-gaap:NoncontrollingInterestMember2017-12-3100016160002017-12-310001616000us-gaap:RetainedEarningsMember2018-01-012018-12-310001616000xhr:OperatingPartnershipMember2018-01-012018-12-310001616000xhr:ConsolidatedRealEstateEntitiesMember2018-01-012018-12-310001616000us-gaap:NoncontrollingInterestMember2018-01-012018-12-310001616000us-gaap:CommonStockMember2018-01-012018-12-310001616000us-gaap:AdditionalPaidInCapitalMember2018-01-012018-12-310001616000us-gaap:AociIncludingPortionAttributableToNoncontrollingInterestMember2018-01-012018-12-310001616000us-gaap:CommonStockMember2018-12-310001616000us-gaap:AdditionalPaidInCapitalMember2018-12-310001616000us-gaap:AociIncludingPortionAttributableToNoncontrollingInterestMember2018-12-310001616000us-gaap:RetainedEarningsMember2018-12-310001616000xhr:OperatingPartnershipMember2018-12-310001616000xhr:ConsolidatedRealEstateEntitiesMember2018-12-310001616000us-gaap:NoncontrollingInterestMember2018-12-3100016160002018-12-310001616000us-gaap:RetainedEarningsMember2019-01-012019-12-310001616000xhr:OperatingPartnershipMember2019-01-012019-12-310001616000us-gaap:NoncontrollingInterestMember2019-01-012019-12-310001616000us-gaap:CommonStockMember2019-01-012019-12-310001616000us-gaap:AdditionalPaidInCapitalMember2019-01-012019-12-310001616000us-gaap:AociIncludingPortionAttributableToNoncontrollingInterestMember2019-01-012019-12-310001616000us-gaap:CommonStockMember2019-12-310001616000us-gaap:AdditionalPaidInCapitalMember2019-12-310001616000us-gaap:AociIncludingPortionAttributableToNoncontrollingInterestMember2019-12-310001616000us-gaap:RetainedEarningsMember2019-12-310001616000xhr:OperatingPartnershipMember2019-12-310001616000xhr:ConsolidatedRealEstateEntitiesMember2019-12-310001616000us-gaap:NoncontrollingInterestMember2019-12-310001616000us-gaap:RetainedEarningsMember2020-01-012020-12-310001616000xhr:OperatingPartnershipMember2020-01-012020-12-310001616000us-gaap:NoncontrollingInterestMember2020-01-012020-12-310001616000us-gaap:CommonStockMember2020-01-012020-12-310001616000us-gaap:AdditionalPaidInCapitalMember2020-01-012020-12-310001616000us-gaap:AociIncludingPortionAttributableToNoncontrollingInterestMember2020-01-012020-12-310001616000us-gaap:CommonStockMember2020-12-310001616000us-gaap:AdditionalPaidInCapitalMember2020-12-310001616000us-gaap:AociIncludingPortionAttributableToNoncontrollingInterestMember2020-12-310001616000us-gaap:RetainedEarningsMember2020-12-310001616000xhr:OperatingPartnershipMember2020-12-310001616000xhr:ConsolidatedRealEstateEntitiesMember2020-12-310001616000us-gaap:NoncontrollingInterestMember2020-12-31xhr:marketxbrli:pure0001616000xhr:XHRLPOperatingPartnershipMember2020-12-31xhr:propertyxhr:unit00016160002020-03-012020-04-3000016160002020-05-012020-09-3000016160002020-10-012020-10-3100016160002020-10-012020-12-31xhr:debt_covenant0001616000us-gaap:RevolvingCreditFacilityMember2020-03-310001616000xhr:CorporateCreditFacilitiesMember2020-03-310001616000xhr:TermLoan175MMaturityFebruaryTwentyTwentyTwoMemberus-gaap:NotesPayableToBanksMember2020-06-30xhr:loan0001616000us-gaap:MortgagesMembersrt:MinimumMember2020-01-012020-12-310001616000us-gaap:MortgagesMembersrt:MaximumMember2020-01-012020-12-31xhr:fiscal_quarter0001616000us-gaap:SecuredDebtMemberxhr:SeniorSecuredNotes300MDue2025Member2020-08-310001616000xhr:CorporateCreditFacilitiesMember2020-08-31xhr:debt_instrument00016160002020-08-012020-08-310001616000us-gaap:SecuredDebtMemberxhr:SeniorSecuredNotesAddOn200MDue2025Member2020-10-310001616000us-gaap:MortgagesMember2020-10-012020-10-310001616000us-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMember2020-10-310001616000srt:ScenarioForecastMemberus-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMember2022-03-010001616000us-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMember2020-10-012020-10-310001616000xhr:CorporateCreditFacilitiesMember2020-10-310001616000xhr:ResidenceInnBostonCambridgeCambridgeMAMemberus-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember2020-10-310001616000xhr:ResidenceInnBostonCambridgeCambridgeMAMember2020-10-012020-10-310001616000xhr:MarriottNapaValleyHotelSpaNapaValleyCAMemberus-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember2020-10-310001616000xhr:HotelCommonwealthMemberus-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember2020-11-300001616000xhr:RenaissanceAustinHotelAustinTXMemberus-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember2020-11-3000016160002020-11-012020-11-300001616000us-gaap:SalesRevenueNetMemberxhr:OrlandoFloridaAreaMemberus-gaap:GeographicConcentrationRiskMember2020-01-012020-12-310001616000us-gaap:SalesRevenueNetMemberxhr:OrlandoFloridaAreaMemberus-gaap:GeographicConcentrationRiskMember2019-01-012019-12-310001616000us-gaap:SalesRevenueNetMemberxhr:OrlandoFloridaAreaMemberus-gaap:GeographicConcentrationRiskMember2018-01-012018-12-310001616000us-gaap:SalesRevenueNetMemberxhr:PhoenixArizonaAreaMemberus-gaap:GeographicConcentrationRiskMember2020-01-012020-12-310001616000xhr:FiveLargestHotelsMemberus-gaap:SalesRevenueNetMemberus-gaap:CustomerConcentrationRiskMember2019-01-012019-12-310001616000xhr:FiveLargestHotelsMemberus-gaap:SalesRevenueNetMemberus-gaap:CustomerConcentrationRiskMember2020-01-012020-12-310001616000xhr:RealEstateHotelRoomsMemberstpr:TXus-gaap:GeographicConcentrationRiskMember2020-01-012020-12-310001616000xhr:RealEstateHotelRoomsMemberstpr:CAus-gaap:GeographicConcentrationRiskMember2020-01-012020-12-310001616000xhr:RealEstateHotelRoomsMemberstpr:FLus-gaap:GeographicConcentrationRiskMember2020-01-012020-12-310001616000us-gaap:BuildingAndBuildingImprovementsMember2020-01-012020-12-310001616000us-gaap:LandImprovementsMembersrt:MinimumMember2020-01-012020-12-310001616000us-gaap:FurnitureAndFixturesMembersrt:MinimumMember2020-01-012020-12-310001616000us-gaap:FurnitureAndFixturesMembersrt:MaximumMember2020-01-012020-12-310001616000us-gaap:LandImprovementsMembersrt:MaximumMember2020-01-012020-12-310001616000xhr:RenaissanceAustinHotelAustinTXMember2020-01-012020-12-310001616000xhr:MarriottChicagoAtMedicalDistrictUICChicagoILMember2019-01-012019-12-310001616000xhr:HiltonGardenInnWashingtonDCDowntownWashingtonDCMemberus-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember2018-01-012018-12-310001616000us-gaap:HurricaneMemberxhr:HyattCentricKeyWestResortAndSpaKeyWestFLMember2019-01-012019-12-310001616000us-gaap:HurricaneMemberxhr:HyattCentricKeyWestResortAndSpaKeyWestFLMember2020-01-012020-12-310001616000us-gaap:HurricaneMemberxhr:HyattCentricKeyWestResortAndSpaKeyWestFLMember2018-01-012018-12-310001616000us-gaap:HurricaneMemberxhr:MarriottWoodlandsWaterwayHotelConventionCenterWoodlandsTXMember2018-01-012018-12-310001616000us-gaap:FireMember2018-01-012018-12-310001616000us-gaap:LineOfCreditMember2020-12-310001616000us-gaap:LineOfCreditMember2019-12-310001616000xhr:MortgagesAndUnsecuredDebtMember2020-12-310001616000xhr:MortgagesAndUnsecuredDebtMember2019-12-3100016160002018-01-012018-09-30xhr:segment0001616000xhr:OrlandoFloridaAreaMember2020-01-012020-12-310001616000xhr:PhoenixArizonaAreaMember2020-01-012020-12-310001616000xhr:HoustonTexasAreaMember2020-01-012020-12-310001616000xhr:SanDiegoCaliforniaAreaMember2020-01-012020-12-310001616000xhr:AtlantaGeorgiaAreaMember2020-01-012020-12-310001616000xhr:DallasTexasAreaMember2020-01-012020-12-310001616000xhr:SanFranciscoSanMateoCaliforniaAreaMember2020-01-012020-12-310001616000xhr:DenverColoradoAreaMember2020-01-012020-12-310001616000xhr:WashingtonDCMarylandVirginiaAreaMember2020-01-012020-12-310001616000xhr:CaliforniaNorthAreaMember2020-01-012020-12-310001616000xhr:OtherGeographicAreasMember2020-01-012020-12-310001616000xhr:OrlandoFloridaAreaMember2019-01-012019-12-310001616000xhr:HoustonTexasAreaMember2019-01-012019-12-310001616000xhr:PhoenixArizonaAreaMember2019-01-012019-12-310001616000xhr:SanDiegoCaliforniaAreaMember2019-01-012019-12-310001616000xhr:DallasTexasAreaMember2019-01-012019-12-310001616000xhr:SanFranciscoSanMateoCaliforniaAreaMember2019-01-012019-12-310001616000xhr:AtlantaGeorgiaAreaMember2019-01-012019-12-310001616000xhr:SanJoseSantaCruzCaliforniaAreaMember2019-01-012019-12-310001616000xhr:DenverColoradoAreaMember2019-01-012019-12-310001616000xhr:WashingtonDCMarylandVirginiaAreaMember2019-01-012019-12-310001616000xhr:OtherGeographicAreasMember2019-01-012019-12-310001616000xhr:OrlandoFloridaAreaMember2018-01-012018-12-310001616000xhr:PhoenixArizonaAreaMember2018-01-012018-12-310001616000xhr:HoustonTexasAreaMember2018-01-012018-12-310001616000xhr:WashingtonDCMarylandVirginiaAreaMember2018-01-012018-12-310001616000xhr:SanFranciscoSanMateoCaliforniaAreaMember2018-01-012018-12-310001616000xhr:DallasTexasAreaMember2018-01-012018-12-310001616000xhr:SanJoseSantaCruzCaliforniaAreaMember2018-01-012018-12-310001616000xhr:DenverColoradoAreaMember2018-01-012018-12-310001616000xhr:BostonMassachusettsAreaMember2018-01-012018-12-310001616000xhr:CaliforniaNorthAreaMember2018-01-012018-12-310001616000xhr:OtherGeographicAreasMember2018-01-012018-12-31xhr:guest_room0001616000xhr:HyattRegencyPortlandOregonConventionCenterMember2019-12-310001616000xhr:HyattRegencyPortlandOregonConventionCenterMember2019-12-012019-12-310001616000xhr:TwoThousandNineteenAcquisitionGroupMember2019-12-310001616000xhr:TwoThousandNineteenAcquisitionGroupMember2019-01-012019-12-310001616000xhr:HyattRegencyPortlandOregonConventionCenterMembersrt:MaximumMember2019-12-310001616000us-gaap:LandMemberxhr:HyattRegencyPortlandOregonConventionCenterMember2019-01-012019-12-310001616000us-gaap:BuildingAndBuildingImprovementsMemberxhr:HyattRegencyPortlandOregonConventionCenterMember2019-01-012019-12-310001616000us-gaap:FurnitureAndFixturesMemberxhr:HyattRegencyPortlandOregonConventionCenterMember2019-01-012019-12-310001616000xhr:HyattRegencyPortlandOregonConventionCenterMember2019-01-012019-12-310001616000us-gaap:CustomerContractsMemberxhr:HyattRegencyPortlandOregonConventionCenterMember2019-01-012019-12-310001616000xhr:RenaissanceAtlantaWaverlyHotelConventionCenterAtlantaGAMember2020-01-310001616000xhr:RenaissanceAtlantaWaverlyHotelConventionCenterAtlantaGAMember2020-08-012020-08-310001616000xhr:RenaissanceAustinHotelAustinTXMember2020-02-290001616000xhr:RenaissanceAustinHotelAustinTXMember2020-04-012020-04-300001616000xhr:KimptonPortfolioMember2020-03-310001616000xhr:KimptonPortfolioMemberxhr:HotelFurnitureFixturesandEquipmentReservesMember2020-03-310001616000xhr:KimptonPortfolioMember2020-04-300001616000xhr:KimptonPortfolioMember2020-07-310001616000xhr:ResidenceInnBostonCambridgeCambridgeMAMember2020-08-310001616000xhr:ResidenceInnBostonCambridgeCambridgeMAMember2020-10-012020-10-010001616000xhr:MarriottNapaValleyHotelSpaNapaValleyCAMember2020-08-310001616000xhr:MarriottNapaValleyHotelSpaNapaValleyCAMember2020-10-222020-10-220001616000xhr:RenaissanceAustinHotelAustinTXMember2020-09-300001616000xhr:RenaissanceAustinHotelAustinTXMember2020-11-242020-11-240001616000xhr:HotelCommonwealthMember2020-10-310001616000xhr:HotelCommonwealthMember2020-11-012020-11-300001616000xhr:ResidenceInnBostonCambridgeCambridgeMAMemberus-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember2020-10-012020-10-310001616000xhr:MarriottNapaValleyHotelSpaNapaValleyCAMemberus-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember2020-10-012020-10-310001616000xhr:HotelCommonwealthMemberus-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember2020-11-012020-11-300001616000xhr:RenaissanceAustinHotelAustinTXMemberus-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember2020-11-012020-11-300001616000xhr:DisposedOfBySale2020Memberus-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember2020-12-310001616000xhr:DisposedOfBySale2020Memberus-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember2020-01-012020-12-310001616000us-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMemberxhr:MarriottChicagoAtMedicalDistrictUICChicagoILMember2019-12-310001616000us-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMemberxhr:MarriottChicagoAtMedicalDistrictUICChicagoILMember2019-12-012019-12-310001616000xhr:MarriottGriffinGateResortSpaLexingtonKYMemberus-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember2019-12-310001616000xhr:MarriottGriffinGateResortSpaLexingtonKYMemberus-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember2019-12-012019-12-310001616000xhr:DisposedOfBySale2019Memberus-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember2019-12-310001616000xhr:DisposedOfBySale2019Memberus-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember2019-01-012019-12-310001616000xhr:AstonWaikikiBeachResortMemberus-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember2018-03-310001616000xhr:AstonWaikikiBeachResortMemberus-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember2018-03-012018-03-310001616000xhr:HiltonGardenInnWashingtonDCDowntownWashingtonDCMemberus-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember2018-11-300001616000xhr:HiltonGardenInnWashingtonDCDowntownWashingtonDCMemberus-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember2018-11-012018-11-300001616000xhr:ResidenceInnDenverCityCenterDenverCOMemberus-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember2018-12-310001616000xhr:ResidenceInnDenverCityCenterDenverCOMemberus-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember2018-12-012018-12-310001616000us-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMemberxhr:DisposedOfBySale2018Member2018-12-310001616000us-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMemberxhr:DisposedOfBySale2018Member2018-01-012018-12-310001616000us-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMemberxhr:DisposedOfBySale2018Member2019-01-012019-12-310001616000xhr:DisposedOfBySale2017Memberus-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember2018-01-012018-12-310001616000us-gaap:LeasesAcquiredInPlaceMember2020-12-310001616000us-gaap:LeasesAcquiredInPlaceMember2019-12-310001616000us-gaap:CustomerContractsMember2020-12-310001616000us-gaap:CustomerContractsMember2019-12-310001616000us-gaap:LeasesAcquiredInPlaceMember2020-01-012020-12-310001616000us-gaap:LeasesAcquiredInPlaceMember2019-01-012019-12-310001616000us-gaap:CustomerContractsMember2020-01-012020-12-310001616000us-gaap:CustomerContractsMember2019-01-012019-12-310001616000us-gaap:MortgagesMemberxhr:MarriottDallasCityCenterDallasTXMember2020-12-310001616000us-gaap:MortgagesMemberxhr:MarriottDallasCityCenterDallasTXMember2019-12-310001616000xhr:HotelPalomarPhiladelphiaPhiladelphiaPAMemberus-gaap:MortgagesMember2020-12-310001616000xhr:HotelPalomarPhiladelphiaPhiladelphiaPAMemberus-gaap:MortgagesMember2019-12-310001616000xhr:RenaissanceAtlantaWaverlyHotelConventionCenterAtlantaGAMemberus-gaap:MortgagesMember2020-12-310001616000xhr:RenaissanceAtlantaWaverlyHotelConventionCenterAtlantaGAMemberus-gaap:MortgagesMember2019-12-310001616000us-gaap:MortgagesMemberxhr:AndazNapaMember2020-12-310001616000us-gaap:MortgagesMemberxhr:AndazNapaMember2019-12-310001616000us-gaap:MortgagesMemberxhr:RitzCarltonPentagonCityArlingtonVirginiaMember2020-12-310001616000us-gaap:MortgagesMemberxhr:RitzCarltonPentagonCityArlingtonVirginiaMember2019-12-310001616000xhr:ResidenceInnBostonCambridgeCambridgeMAMemberus-gaap:MortgagesMember2020-12-310001616000xhr:ResidenceInnBostonCambridgeCambridgeMAMemberus-gaap:MortgagesMember2019-12-310001616000us-gaap:MortgagesMemberxhr:GrandBohemianHotelOrlandoanAutographCollectionHotelOrlandoFLMember2020-12-310001616000us-gaap:MortgagesMemberxhr:GrandBohemianHotelOrlandoanAutographCollectionHotelOrlandoFLMember2019-12-310001616000us-gaap:MortgagesMemberxhr:MarriottSanFranciscoAirportWaterfrontSanFranciscoCAMember2020-12-310001616000us-gaap:MortgagesMemberxhr:MarriottSanFranciscoAirportWaterfrontSanFranciscoCAMember2019-12-310001616000us-gaap:MortgagesMember2020-12-310001616000us-gaap:MortgagesMember2019-12-310001616000xhr:TermLoan175MMaturityFebruaryTwentyTwentyTwoMemberus-gaap:NotesPayableToBanksMember2020-12-310001616000xhr:TermLoan175MMaturityFebruaryTwentyTwentyTwoMemberus-gaap:NotesPayableToBanksMember2019-12-310001616000us-gaap:NotesPayableToBanksMemberxhr:TermLoan125MMaturityOctoberTwentyTwentyTwoMember2020-12-310001616000us-gaap:NotesPayableToBanksMemberxhr:TermLoan125MMaturityOctoberTwentyTwentyTwoMember2019-12-310001616000us-gaap:NotesPayableToBanksMemberxhr:TermLoan150MMaturityAugustTwentyTwentyThreeMember2020-12-310001616000us-gaap:NotesPayableToBanksMemberxhr:TermLoan150MMaturityAugustTwentyTwentyThreeMember2019-12-310001616000us-gaap:NotesPayableToBanksMemberxhr:TermLoan125MMaturitySeptemberTwentyTwentyFourMember2020-12-310001616000us-gaap:NotesPayableToBanksMemberxhr:TermLoan125MMaturitySeptemberTwentyTwentyFourMember2019-12-310001616000us-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMember2020-12-310001616000us-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMember2019-12-310001616000xhr:CorporateCreditFacilitiesMember2020-12-310001616000xhr:CorporateCreditFacilitiesMember2019-12-310001616000xhr:SeniorSecuredNotes500MDue2025Memberus-gaap:SecuredDebtMember2020-12-310001616000xhr:SeniorSecuredNotes500MDue2025Memberus-gaap:SecuredDebtMember2019-12-310001616000us-gaap:NotesPayableToBanksMembersrt:MinimumMember2020-12-310001616000us-gaap:NotesPayableToBanksMembersrt:MaximumMember2020-12-310001616000xhr:ResidenceInnCambridgeMember2020-10-012020-10-010001616000xhr:TermLoan175MMaturityFebruaryTwentyTwentyTwoMemberus-gaap:NotesPayableToBanksMemberus-gaap:LondonInterbankOfferedRateLIBORMember2020-10-012020-10-310001616000us-gaap:MortgagesMember2020-01-012020-12-310001616000us-gaap:MortgagesMemberus-gaap:RecourseMember2020-12-310001616000us-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMember2018-01-310001616000us-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMember2018-01-012018-01-310001616000us-gaap:RevolvingCreditFacilityMemberus-gaap:LondonInterbankOfferedRateLIBORMemberus-gaap:LineOfCreditMembersrt:MinimumMember2018-01-012018-01-310001616000us-gaap:RevolvingCreditFacilityMemberus-gaap:LondonInterbankOfferedRateLIBORMemberus-gaap:LineOfCreditMembersrt:MaximumMember2018-01-012018-01-310001616000us-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMembersrt:MinimumMember2018-01-012018-01-310001616000us-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMembersrt:MaximumMember2018-01-012018-01-310001616000xhr:CorporateCreditFacilitiesMember2020-06-300001616000us-gaap:EurodollarMemberxhr:CorporateCreditFacilitiesMember2020-06-302020-06-300001616000xhr:CorporateCreditFacilitiesMember2020-10-300001616000us-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMember2020-01-012020-12-310001616000us-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMember2019-01-012019-12-310001616000us-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMember2018-01-012018-12-310001616000us-gaap:SecuredDebtMemberxhr:SeniorSecuredNotes300MDue2025Member2020-08-012020-08-310001616000us-gaap:SecuredDebtMemberxhr:SeniorSecuredNotes300MDue2025Memberus-gaap:DebtInstrumentRedemptionPeriodOneMember2020-08-012020-08-310001616000us-gaap:DebtInstrumentRedemptionPeriodTwoMemberus-gaap:SecuredDebtMemberxhr:SeniorSecuredNotes300MDue2025Member2020-08-012020-08-310001616000us-gaap:SecuredDebtMemberus-gaap:DebtInstrumentRedemptionPeriodThreeMemberxhr:SeniorSecuredNotes300MDue2025Member2020-08-012020-08-310001616000us-gaap:SecuredDebtMemberus-gaap:DebtInstrumentRedemptionPeriodFourMemberxhr:SeniorSecuredNotes300MDue2025Member2020-08-012020-08-310001616000us-gaap:SecuredDebtMemberxhr:DebtInstrumentRedemptionInitialOneHundredTwentyDaysMemberxhr:SeniorSecuredNotes300MDue2025Member2020-08-012020-08-310001616000us-gaap:SecuredDebtMemberxhr:SeniorSecuredNotesAddOn200MDue2025Member2020-10-3000016160002020-10-012020-10-300001616000us-gaap:MortgagesMember2020-10-012020-10-300001616000xhr:LoanAmendmentsMember2020-01-012020-12-310001616000us-gaap:GeneralAndAdministrativeExpenseMemberxhr:LoanAmendmentsMember2020-01-012020-12-31xhr:derivative_instrument0001616000us-gaap:InterestRateSwapMember2020-01-012020-12-310001616000us-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberxhr:A175TermLoanHedgedOneMember2020-12-310001616000us-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberus-gaap:LondonInterbankOfferedRateLIBORMemberxhr:A175TermLoanHedgedOneMember2020-12-310001616000us-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberxhr:A175TermLoanHedgedOneMember2019-12-310001616000us-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberxhr:A175TermLoanHedgedTwoMember2020-12-310001616000us-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberxhr:A175TermLoanHedgedTwoMemberus-gaap:LondonInterbankOfferedRateLIBORMember2020-12-310001616000us-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberxhr:A175TermLoanHedgedTwoMember2019-12-310001616000us-gaap:InterestRateSwapMemberxhr:A175TermLoanHedgedThreeMemberus-gaap:CashFlowHedgingMember2020-12-310001616000us-gaap:InterestRateSwapMemberxhr:A175TermLoanHedgedThreeMemberus-gaap:CashFlowHedgingMemberus-gaap:LondonInterbankOfferedRateLIBORMember2020-12-310001616000us-gaap:InterestRateSwapMemberxhr:A175TermLoanHedgedThreeMemberus-gaap:CashFlowHedgingMember2019-12-310001616000us-gaap:InterestRateSwapMemberxhr:A150TermLoanHedgedOneMemberus-gaap:CashFlowHedgingMember2020-12-310001616000us-gaap:InterestRateSwapMemberxhr:A150TermLoanHedgedOneMemberus-gaap:CashFlowHedgingMemberus-gaap:LondonInterbankOfferedRateLIBORMember2020-12-310001616000us-gaap:InterestRateSwapMemberxhr:A150TermLoanHedgedOneMemberus-gaap:CashFlowHedgingMember2019-12-310001616000us-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberxhr:A150TermLoanHedgedTwoMember2020-12-310001616000us-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberxhr:A150TermLoanHedgedTwoMemberus-gaap:LondonInterbankOfferedRateLIBORMember2020-12-310001616000us-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberxhr:A150TermLoanHedgedTwoMember2019-12-310001616000us-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberxhr:A150TermLoanHedgedThreeMember2020-12-310001616000us-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberus-gaap:LondonInterbankOfferedRateLIBORMemberxhr:A150TermLoanHedgedThreeMember2020-12-310001616000us-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberxhr:A150TermLoanHedgedThreeMember2019-12-310001616000us-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberxhr:A150TermLoanHedgedFourMember2020-12-310001616000us-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberxhr:A150TermLoanHedgedFourMemberus-gaap:LondonInterbankOfferedRateLIBORMember2020-12-310001616000us-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberxhr:A150TermLoanHedgedFourMember2019-12-310001616000us-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberxhr:MortgageDebtHedgedOneMember2020-12-310001616000us-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberus-gaap:LondonInterbankOfferedRateLIBORMemberxhr:MortgageDebtHedgedOneMember2020-12-310001616000us-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberxhr:MortgageDebtHedgedOneMember2019-12-310001616000xhr:MortgageDebtHedgedTwoMemberus-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMember2020-12-310001616000xhr:MortgageDebtHedgedTwoMemberus-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberus-gaap:LondonInterbankOfferedRateLIBORMember2020-12-310001616000xhr:MortgageDebtHedgedTwoMemberus-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMember2019-12-310001616000us-gaap:InterestRateSwapMemberxhr:MortgageDebtHedgedThreeMemberus-gaap:CashFlowHedgingMember2020-12-310001616000us-gaap:InterestRateSwapMemberxhr:MortgageDebtHedgedThreeMemberus-gaap:CashFlowHedgingMemberus-gaap:LondonInterbankOfferedRateLIBORMember2020-12-310001616000us-gaap:InterestRateSwapMemberxhr:MortgageDebtHedgedThreeMemberus-gaap:CashFlowHedgingMember2019-12-310001616000us-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberxhr:MortgageDebtHedgedFourMember2020-12-310001616000us-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberxhr:MortgageDebtHedgedFourMemberus-gaap:LondonInterbankOfferedRateLIBORMember2020-12-310001616000us-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberxhr:MortgageDebtHedgedFourMember2019-12-310001616000us-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberxhr:A125TermLoanHedgedOneMember2020-12-310001616000us-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberxhr:A125TermLoanHedgedOneMemberus-gaap:LondonInterbankOfferedRateLIBORMember2020-12-310001616000us-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberxhr:A125TermLoanHedgedOneMember2019-12-310001616000us-gaap:InterestRateSwapMemberxhr:A125TermLoanHedgedTwoMemberus-gaap:CashFlowHedgingMember2020-12-310001616000us-gaap:InterestRateSwapMemberxhr:A125TermLoanHedgedTwoMemberus-gaap:CashFlowHedgingMemberus-gaap:LondonInterbankOfferedRateLIBORMember2020-12-310001616000us-gaap:InterestRateSwapMemberxhr:A125TermLoanHedgedTwoMemberus-gaap:CashFlowHedgingMember2019-12-310001616000us-gaap:InterestRateSwapMemberxhr:A125TermLoanHedgedThreeMemberus-gaap:CashFlowHedgingMember2020-12-310001616000us-gaap:InterestRateSwapMemberxhr:A125TermLoanHedgedThreeMemberus-gaap:CashFlowHedgingMemberus-gaap:LondonInterbankOfferedRateLIBORMember2020-12-310001616000us-gaap:InterestRateSwapMemberxhr:A125TermLoanHedgedThreeMemberus-gaap:CashFlowHedgingMember2019-12-310001616000us-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberxhr:A125TermLoanHedgedFourMember2020-12-310001616000us-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberxhr:A125TermLoanHedgedFourMemberus-gaap:LondonInterbankOfferedRateLIBORMember2020-12-310001616000us-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberxhr:A125TermLoanHedgedFourMember2019-12-310001616000us-gaap:InterestRateSwapMemberxhr:MortgageDebtHedgedFiveMemberus-gaap:CashFlowHedgingMember2020-12-310001616000us-gaap:InterestRateSwapMemberxhr:MortgageDebtHedgedFiveMemberus-gaap:CashFlowHedgingMemberus-gaap:LondonInterbankOfferedRateLIBORMember2020-12-310001616000us-gaap:InterestRateSwapMemberxhr:MortgageDebtHedgedFiveMemberus-gaap:CashFlowHedgingMember2019-12-310001616000xhr:MortgageDebtHedgedSixMemberus-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMember2020-12-310001616000xhr:MortgageDebtHedgedSixMemberus-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberus-gaap:LondonInterbankOfferedRateLIBORMember2020-12-310001616000xhr:MortgageDebtHedgedSixMemberus-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMember2019-12-310001616000us-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMember2020-12-310001616000us-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMember2019-12-310001616000us-gaap:InterestRateSwapMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2020-12-310001616000us-gaap:FairValueInputsLevel3Memberus-gaap:InterestRateSwapMemberus-gaap:FairValueMeasurementsRecurringMember2020-12-310001616000us-gaap:InterestRateSwapMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2019-12-310001616000us-gaap:FairValueInputsLevel3Memberus-gaap:InterestRateSwapMemberus-gaap:FairValueMeasurementsRecurringMember2019-12-310001616000us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMember2020-12-310001616000us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMember2020-12-310001616000us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMember2019-12-310001616000us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMember2019-12-310001616000xhr:MarriottChicagoAtMedicalDistrictUICChicagoILMember2019-12-310001616000xhr:MarriottChicagoAtMedicalDistrictUICChicagoILMember2019-12-012019-12-3100016160002020-03-310001616000xhr:AndazSavannahSavannahGAMember2020-01-012020-03-310001616000xhr:BohemianHotelCelebrationanAutographCollectionHotelSavannahGAMember2020-01-012020-03-310001616000xhr:BohemianHotelCelebrationanAutographCollectionHotelSavannahGAMember2020-04-012020-06-300001616000xhr:BohemianHotelCelebrationanAutographCollectionHotelSavannahGAMember2019-01-012019-12-310001616000us-gaap:CarryingReportedAmountFairValueDisclosureMember2020-12-310001616000us-gaap:EstimateOfFairValueFairValueDisclosureMember2020-12-310001616000us-gaap:CarryingReportedAmountFairValueDisclosureMember2019-12-310001616000us-gaap:EstimateOfFairValueFairValueDisclosureMember2019-12-310001616000us-gaap:MeasurementInputDiscountRateMemberus-gaap:FairValueInputsLevel2Member2020-12-310001616000us-gaap:MeasurementInputDiscountRateMemberus-gaap:FairValueInputsLevel2Member2019-12-310001616000srt:ScenarioForecastMember2021-01-012021-12-310001616000us-gaap:DomesticCountryMember2020-01-012020-12-310001616000us-gaap:DomesticCountryMember2020-12-310001616000us-gaap:DomesticCountryMember2019-12-310001616000us-gaap:StateAndLocalJurisdictionMember2020-12-310001616000us-gaap:StateAndLocalJurisdictionMember2019-12-310001616000xhr:RepurchaseProgramMember2015-12-310001616000xhr:RepurchaseProgramMember2016-11-300001616000xhr:RepurchaseProgramMember2020-12-310001616000xhr:TimeBasedLTIPUnitsandClassALTIPUnitsMember2020-02-012020-02-290001616000us-gaap:CommonStockMember2020-02-012020-02-2900016160002020-02-012020-02-290001616000xhr:TimeBasedLTIPUnitsandClassALTIPUnitsMember2020-06-012020-06-3000016160002020-06-012020-06-300001616000xhr:TimeBasedLTIPUnitsandClassALTIPUnitsMember2020-12-310001616000xhr:TimeBasedLTIPUnitsandClassALTIPUnitsMember2019-12-310001616000xhr:XHRLPOperatingPartnershipMember2019-12-3100016160002020-05-012020-05-310001616000xhr:RestrictedStockUnitsRSUTimeBasedMember2018-02-012018-02-280001616000xhr:RestrictedStockUnitsRSUPerformanceBasedMember2018-02-012018-02-280001616000us-gaap:RestrictedStockUnitsRSUMember2018-02-012018-02-280001616000xhr:RestrictedStockUnitsRSUTimeBasedMember2019-02-012019-02-280001616000xhr:RestrictedStockUnitsRSUPerformanceBasedMember2019-02-012019-02-280001616000us-gaap:RestrictedStockUnitsRSUMember2019-02-012019-02-280001616000xhr:RestrictedStockUnitsRSUTimeBasedMember2020-03-012020-03-310001616000xhr:RestrictedStockUnitsRSUPerformanceBasedMember2020-03-012020-03-310001616000us-gaap:RestrictedStockUnitsRSUMember2020-03-012020-03-310001616000xhr:RestrictedStockUnitsRSUTimeBasedMember2020-06-012020-06-300001616000xhr:RestrictedStockUnitsRSUPerformanceBasedMember2020-06-012020-06-300001616000us-gaap:RestrictedStockUnitsRSUMember2020-06-012020-06-300001616000xhr:RestrictedStockUnitsRSUTimeBasedMember2020-12-012020-12-310001616000xhr:RestrictedStockUnitsRSUPerformanceBasedMember2020-12-012020-12-310001616000us-gaap:RestrictedStockUnitsRSUMember2020-12-012020-12-310001616000xhr:March2020Memberxhr:RestrictedStockUnitsRSUTimeBasedMemberus-gaap:ShareBasedCompensationAwardTrancheOneMember2020-01-012020-12-310001616000xhr:RestrictedStockUnitsRSUTimeBasedMemberus-gaap:ShareBasedCompensationAwardTrancheOneMemberxhr:February2019Member2020-01-012020-12-310001616000xhr:RestrictedStockUnitsRSUTimeBasedMemberxhr:February2018Memberus-gaap:ShareBasedCompensationAwardTrancheOneMember2020-01-012020-12-310001616000xhr:RestrictedStockUnitsRSUTimeBasedMemberxhr:February2018Memberus-gaap:ShareBasedCompensationAwardTrancheTwoMember2020-01-012020-12-310001616000xhr:March2020Memberxhr:RestrictedStockUnitsRSUTimeBasedMemberus-gaap:ShareBasedCompensationAwardTrancheTwoMember2020-01-012020-12-310001616000xhr:RestrictedStockUnitsRSUTimeBasedMemberxhr:February2019Memberus-gaap:ShareBasedCompensationAwardTrancheTwoMember2020-01-012020-12-310001616000xhr:March2020Memberxhr:RestrictedStockUnitsRSUTimeBasedMemberus-gaap:ShareBasedCompensationAwardTrancheThreeMember2020-01-012020-12-310001616000xhr:RestrictedStockUnitsRSUTimeBasedMemberxhr:February2019Memberus-gaap:ShareBasedCompensationAwardTrancheThreeMember2020-01-012020-12-310001616000xhr:RestrictedStockUnitsRSUTimeBasedMemberxhr:February2018Memberus-gaap:ShareBasedCompensationAwardTrancheThreeMember2020-01-012020-12-310001616000xhr:February2018Memberxhr:AbsoluteTSRRSUsMember2020-01-012020-12-310001616000xhr:February2019Memberxhr:AbsoluteTSRRSUsMember2020-01-012020-12-310001616000xhr:February2019Memberxhr:RelativeTSRRSUsMember2020-01-012020-12-310001616000xhr:February2018Memberxhr:RelativeTSRRSUsMember2020-01-012020-12-310001616000xhr:TimeBasedLTIPUnitsMember2018-02-012018-02-280001616000xhr:ClassALTIPUnitsMember2018-02-012018-02-280001616000xhr:TimeBasedLTIPUnitsandClassALTIPUnitsMember2018-02-012018-02-280001616000xhr:TimeBasedLTIPUnitsMember2019-02-012019-02-280001616000xhr:ClassALTIPUnitsMember2019-02-012019-02-280001616000xhr:TimeBasedLTIPUnitsandClassALTIPUnitsMember2019-02-012019-02-280001616000xhr:TimeBasedLTIPUnitsMember2020-03-012020-03-310001616000xhr:ClassALTIPUnitsMember2020-03-012020-03-310001616000xhr:TimeBasedLTIPUnitsandClassALTIPUnitsMember2020-03-012020-03-310001616000xhr:TimeBasedLTIPUnitsMember2020-06-012020-06-300001616000xhr:ClassALTIPUnitsMember2020-06-012020-06-300001616000xhr:March2020Memberxhr:TimeBasedLTIPUnitsMemberus-gaap:ShareBasedCompensationAwardTrancheOneMember2020-01-012020-12-310001616000xhr:TimeBasedLTIPUnitsMemberxhr:February2018Memberus-gaap:ShareBasedCompensationAwardTrancheOneMember2020-01-012020-12-310001616000xhr:TimeBasedLTIPUnitsMemberus-gaap:ShareBasedCompensationAwardTrancheOneMemberxhr:February2019Member2020-01-012020-12-310001616000xhr:TimeBasedLTIPUnitsMemberxhr:February2019Memberus-gaap:ShareBasedCompensationAwardTrancheTwoMember2020-01-012020-12-310001616000xhr:March2020Memberxhr:TimeBasedLTIPUnitsMemberus-gaap:ShareBasedCompensationAwardTrancheTwoMember2020-01-012020-12-310001616000xhr:TimeBasedLTIPUnitsMemberxhr:February2018Memberus-gaap:ShareBasedCompensationAwardTrancheTwoMember2020-01-012020-12-310001616000xhr:TimeBasedLTIPUnitsMemberxhr:February2019Memberus-gaap:ShareBasedCompensationAwardTrancheThreeMember2020-01-012020-12-310001616000xhr:TimeBasedLTIPUnitsMemberxhr:February2018Memberus-gaap:ShareBasedCompensationAwardTrancheThreeMember2020-01-012020-12-310001616000xhr:March2020Memberxhr:TimeBasedLTIPUnitsMemberus-gaap:ShareBasedCompensationAwardTrancheThreeMember2020-01-012020-12-310001616000xhr:February2018Memberxhr:AbsoluteTSRClassALTIPsMember2020-01-012020-12-310001616000xhr:February2019Memberxhr:AbsoluteTSRClassALTIPsMember2020-01-012020-12-310001616000xhr:February2019Memberxhr:RelativeTSRClassALTIPsMember2020-01-012020-12-310001616000xhr:February2018Memberxhr:RelativeTSRClassALTIPsMember2020-01-012020-12-31xhr:director0001616000srt:DirectorMemberxhr:FullyVestedLTIPUnitsMember2020-05-012020-05-310001616000srt:DirectorMemberxhr:FullyVestedLTIPUnitsMember2019-05-012019-05-310001616000srt:DirectorMemberxhr:FullyVestedLTIPUnitsMember2018-05-012018-05-310001616000xhr:ClassALTIPUnitsMember2020-01-012020-12-310001616000us-gaap:RestrictedStockUnitsRSUMemberxhr:TwoThousandandFifteenIncentiveAwardPlanMember2018-12-310001616000xhr:TimeBasedLTIPUnitsandClassALTIPUnitsMemberxhr:TwoThousandandFifteenIncentiveAwardPlanMember2018-12-310001616000us-gaap:RestrictedStockUnitsRSUMemberxhr:TwoThousandandFifteenIncentiveAwardPlanMember2019-01-012019-12-310001616000xhr:TimeBasedLTIPUnitsandClassALTIPUnitsMemberxhr:TwoThousandandFifteenIncentiveAwardPlanMember2019-01-012019-12-310001616000us-gaap:RestrictedStockUnitsRSUMemberxhr:TwoThousandandFifteenIncentiveAwardPlanMember2019-12-310001616000xhr:TimeBasedLTIPUnitsandClassALTIPUnitsMemberxhr:TwoThousandandFifteenIncentiveAwardPlanMember2019-12-310001616000us-gaap:RestrictedStockUnitsRSUMemberxhr:TwoThousandandFifteenIncentiveAwardPlanMember2020-01-012020-12-310001616000xhr:TimeBasedLTIPUnitsandClassALTIPUnitsMemberxhr:TwoThousandandFifteenIncentiveAwardPlanMember2020-01-012020-12-310001616000us-gaap:RestrictedStockUnitsRSUMemberxhr:TwoThousandandFifteenIncentiveAwardPlanMember2020-12-310001616000xhr:TimeBasedLTIPUnitsandClassALTIPUnitsMemberxhr:TwoThousandandFifteenIncentiveAwardPlanMember2020-12-310001616000xhr:AbsoluteTSRRSUsMember2018-02-202018-02-200001616000xhr:AbsoluteTSRRSUsMember2018-02-200001616000xhr:RelativeTSRRSUsMember2018-02-202018-02-200001616000xhr:RelativeTSRRSUsMember2018-02-200001616000xhr:AbsoluteTSRClassALTIPsMember2018-02-202018-02-200001616000xhr:AbsoluteTSRClassALTIPsMember2018-02-200001616000xhr:RelativeTSRClassALTIPsMember2018-02-202018-02-200001616000xhr:RelativeTSRClassALTIPsMember2018-02-200001616000xhr:AbsoluteTSRRSUsMember2020-01-012020-12-310001616000xhr:AbsoluteTSRRSUsMember2019-02-190001616000xhr:AbsoluteTSRRSUsMember2019-02-192019-02-190001616000xhr:RelativeTSRRSUsMember2020-01-012020-12-310001616000xhr:RelativeTSRRSUsMember2019-02-190001616000xhr:RelativeTSRRSUsMember2019-02-192019-02-190001616000xhr:AbsoluteTSRClassALTIPsMember2020-01-012020-12-310001616000xhr:AbsoluteTSRClassALTIPsMember2019-02-190001616000xhr:AbsoluteTSRClassALTIPsMember2019-02-192019-02-190001616000xhr:RelativeTSRClassALTIPsMember2020-01-012020-12-310001616000xhr:RelativeTSRClassALTIPsMember2019-02-190001616000xhr:RelativeTSRClassALTIPsMember2019-02-192019-02-190001616000xhr:AbsoluteTSRRestrictedStockUnitsTypeIMember2020-03-022020-03-020001616000xhr:AbsoluteTSRRestrictedStockUnitsTypeIMember2020-03-020001616000xhr:RelativeTSRRestrictedStockUnitsTypeIMember2020-03-022020-03-020001616000xhr:RelativeTSRRestrictedStockUnitsTypeIMember2020-03-020001616000xhr:AbsoluteTSRRestrictedStockUnitsTypeIIMember2020-03-022020-03-020001616000xhr:AbsoluteTSRRestrictedStockUnitsTypeIIMember2020-03-020001616000xhr:RelativeTSRRestrictedStockUnitsTypeIIMember2020-03-022020-03-020001616000xhr:RelativeTSRRestrictedStockUnitsTypeIIMember2020-03-020001616000xhr:AbsoluteTSRClassALTIPsMember2020-03-022020-03-020001616000xhr:AbsoluteTSRClassALTIPsMember2020-03-020001616000xhr:RelativeTSRClassALTIPsMember2020-03-022020-03-020001616000xhr:RelativeTSRClassALTIPsMember2020-03-020001616000xhr:RestrictedStockUnitsAndLTIPUnitsMemberxhr:ExecutiveOfficersandManagementMember2020-01-012020-12-310001616000srt:DirectorMemberxhr:FullyVestedLTIPUnitsMember2020-01-012020-12-310001616000us-gaap:RestrictedStockUnitsRSUMembersrt:ManagementMember2020-01-012020-12-310001616000xhr:RestrictedStockUnitsAndLTIPUnitsMemberxhr:ExecutiveOfficersandManagementMember2019-01-012019-12-310001616000srt:DirectorMemberxhr:FullyVestedLTIPUnitsMember2019-01-012019-12-310001616000us-gaap:RestrictedStockUnitsRSUMembersrt:ManagementMember2019-01-012019-12-310001616000xhr:RestrictedStockUnitsAndLTIPUnitsMemberxhr:ExecutiveOfficersandManagementMember2018-01-012018-12-310001616000srt:DirectorMemberxhr:FullyVestedLTIPUnitsMember2018-01-012018-12-310001616000us-gaap:RestrictedStockUnitsRSUMembersrt:ManagementMember2018-01-012018-12-310001616000xhr:HotelManagementAgreementBrandManagedHotelsMembersrt:MinimumMember2020-01-012020-12-310001616000xhr:HotelManagementAgreementBrandManagedHotelsMembersrt:MaximumMember2020-01-012020-12-310001616000xhr:HotelManagementAgreementBrandManagedHotelsMember2020-01-012020-12-310001616000xhr:HotelManagementAgreementFranchisedHotelsMembersrt:MinimumMember2020-01-012020-12-310001616000xhr:HotelManagementAgreementFranchisedHotelsMembersrt:MaximumMember2020-01-012020-12-310001616000xhr:HotelManagementAgreementFranchisedHotelsMember2020-01-012020-12-310001616000xhr:FranchiseAgreementMembersrt:MinimumMember2020-01-012020-12-310001616000srt:MaximumMemberxhr:FranchiseAgreementMember2020-01-012020-12-310001616000xhr:FranchiseAgreementMember2020-01-012020-12-310001616000xhr:HotelFurnitureFixturesandEquipmentReservesMember2020-12-310001616000xhr:HotelFurnitureFixturesandEquipmentReservesMember2019-12-310001616000xhr:HotelFurnitureFixturesandEquipmentReservesMember2020-12-310001616000xhr:HotelPropertyRenovationThirdPartyMember2020-12-310001616000xhr:ChiefInvestmentOfficerMember2020-04-300001616000xhr:ChiefInvestmentOfficerMember2020-04-012020-04-300001616000srt:MaximumMemberxhr:ChiefInvestmentOfficerMember2020-04-012020-04-3000016160002020-01-012020-03-3100016160002020-04-012020-06-3000016160002020-07-012020-09-3000016160002019-01-012019-03-3100016160002019-04-012019-06-3000016160002019-07-012019-09-3000016160002019-10-012019-12-310001616000xhr:AndazNapaValleyNapaCAMembersrt:HotelMember2020-12-310001616000xhr:AndazNapaValleyNapaCAMembersrt:HotelMembersrt:MinimumMember2020-01-012020-12-310001616000xhr:AndazNapaValleyNapaCAMembersrt:HotelMembersrt:MaximumMember2020-01-012020-12-310001616000xhr:AndazSanDiegoSanDiegoCAMembersrt:HotelMember2020-12-310001616000xhr:AndazSanDiegoSanDiegoCAMembersrt:HotelMembersrt:MinimumMember2020-01-012020-12-310001616000xhr:AndazSanDiegoSanDiegoCAMembersrt:HotelMembersrt:MaximumMember2020-01-012020-12-310001616000srt:HotelMemberxhr:AndazSavannahSavannahGAMember2020-12-310001616000srt:HotelMemberxhr:AndazSavannahSavannahGAMembersrt:MinimumMember2020-01-012020-12-310001616000srt:HotelMemberxhr:AndazSavannahSavannahGAMembersrt:MaximumMember2020-01-012020-12-310001616000xhr:BohemianHotelCelebrationanAutographCollectionHotelCelebrationFLMembersrt:HotelMember2020-12-310001616000xhr:BohemianHotelCelebrationanAutographCollectionHotelCelebrationFLMembersrt:HotelMembersrt:MinimumMember2020-01-012020-12-310001616000xhr:BohemianHotelCelebrationanAutographCollectionHotelCelebrationFLMembersrt:HotelMembersrt:MaximumMember2020-01-012020-12-310001616000srt:HotelMemberxhr:BohemianHotelCelebrationanAutographCollectionHotelSavannahGAMember2020-12-310001616000srt:HotelMemberxhr:BohemianHotelCelebrationanAutographCollectionHotelSavannahGAMembersrt:MinimumMember2020-01-012020-12-310001616000srt:HotelMemberxhr:BohemianHotelCelebrationanAutographCollectionHotelSavannahGAMembersrt:MaximumMember2020-01-012020-12-310001616000srt:HotelMemberxhr:BuckheadAtlantaRestaurantAtlantaGAMember2020-12-310001616000srt:HotelMemberxhr:BuckheadAtlantaRestaurantAtlantaGAMembersrt:MinimumMember2020-01-012020-12-310001616000srt:HotelMemberxhr:BuckheadAtlantaRestaurantAtlantaGAMembersrt:MaximumMember2020-01-012020-12-310001616000srt:HotelMemberxhr:FairmontDallasDallasTXMember2020-12-310001616000srt:HotelMemberxhr:FairmontDallasDallasTXMembersrt:MinimumMember2020-01-012020-12-310001616000srt:HotelMembersrt:MaximumMemberxhr:FairmontDallasDallasTXMember2020-01-012020-12-310001616000srt:HotelMemberxhr:FairmontPittsburghPennsylvaniaMember2020-12-310001616000srt:HotelMemberxhr:FairmontPittsburghPennsylvaniaMembersrt:MinimumMember2020-01-012020-12-310001616000srt:HotelMemberxhr:FairmontPittsburghPennsylvaniaMembersrt:MaximumMember2020-01-012020-12-310001616000xhr:GrandBohemianHotelCharlestonMembersrt:HotelMember2020-12-310001616000xhr:GrandBohemianHotelCharlestonMembersrt:HotelMembersrt:MinimumMember2020-01-012020-12-310001616000xhr:GrandBohemianHotelCharlestonMembersrt:HotelMembersrt:MaximumMember2020-01-012020-12-310001616000srt:HotelMemberxhr:GrandBohemianMountainHotelBrookMember2020-12-310001616000srt:HotelMemberxhr:GrandBohemianMountainHotelBrookMembersrt:MinimumMember2020-01-012020-12-310001616000srt:HotelMembersrt:MaximumMemberxhr:GrandBohemianMountainHotelBrookMember2020-01-012020-12-310001616000xhr:GrandBohemianHotelOrlandoanAutographCollectionHotelOrlandoFLMembersrt:HotelMember2020-12-310001616000xhr:GrandBohemianHotelOrlandoanAutographCollectionHotelOrlandoFLMembersrt:HotelMembersrt:MinimumMember2020-01-012020-12-310001616000xhr:GrandBohemianHotelOrlandoanAutographCollectionHotelOrlandoFLMembersrt:HotelMembersrt:MaximumMember2020-01-012020-12-310001616000xhr:HyattKeyWestResortSpaKeyWestFLMembersrt:HotelMember2020-12-310001616000xhr:HyattKeyWestResortSpaKeyWestFLMembersrt:HotelMembersrt:MinimumMember2020-01-012020-12-310001616000xhr:HyattKeyWestResortSpaKeyWestFLMembersrt:HotelMembersrt:MaximumMember2020-01-012020-12-310001616000xhr:HyattRegencyGrandCypressMembersrt:HotelMember2020-12-310001616000xhr:HyattRegencyGrandCypressMembersrt:HotelMembersrt:MinimumMember2020-01-012020-12-310001616000xhr:HyattRegencyGrandCypressMembersrt:HotelMembersrt:MaximumMember2020-01-012020-12-310001616000srt:HotelMemberxhr:HyattRegencyPortlandOregonConventionCenterMember2020-12-310001616000srt:HotelMemberxhr:HyattRegencyPortlandOregonConventionCenterMembersrt:MinimumMember2020-01-012020-12-310001616000srt:HotelMembersrt:MaximumMemberxhr:HyattRegencyPortlandOregonConventionCenterMember2020-01-012020-12-310001616000xhr:HyattRegencySantaClaraSantaClaraCAMembersrt:HotelMember2020-12-310001616000xhr:HyattRegencySantaClaraSantaClaraCAMembersrt:HotelMembersrt:MinimumMember2020-01-012020-12-310001616000xhr:HyattRegencySantaClaraSantaClaraCAMembersrt:HotelMembersrt:MaximumMember2020-01-012020-12-310001616000srt:HotelMemberxhr:HyattRegencyScottsdaleResortAndSpaGaineyRanchAZMember2020-12-310001616000srt:HotelMemberxhr:HyattRegencyScottsdaleResortAndSpaGaineyRanchAZMembersrt:MinimumMember2020-01-012020-12-310001616000srt:HotelMemberxhr:HyattRegencyScottsdaleResortAndSpaGaineyRanchAZMembersrt:MaximumMember2020-01-012020-12-310001616000srt:HotelMemberxhr:KeyWestBottlingCourtRetailCenterKeyWestFLMember2020-12-310001616000srt:HotelMemberxhr:KeyWestBottlingCourtRetailCenterKeyWestFLMembersrt:MinimumMember2020-01-012020-12-310001616000srt:HotelMemberxhr:KeyWestBottlingCourtRetailCenterKeyWestFLMembersrt:MaximumMember2020-01-012020-12-310001616000xhr:KimptonCanarySantaBarbaraCAHotelMembersrt:HotelMember2020-12-310001616000xhr:KimptonCanarySantaBarbaraCAHotelMembersrt:HotelMembersrt:MinimumMember2020-01-012020-12-310001616000xhr:KimptonCanarySantaBarbaraCAHotelMembersrt:HotelMembersrt:MaximumMember2020-01-012020-12-310001616000xhr:KimptonHotelMonacoChicagoILMembersrt:HotelMember2020-12-310001616000xhr:KimptonHotelMonacoChicagoILMembersrt:HotelMembersrt:MinimumMember2020-01-012020-12-310001616000xhr:KimptonHotelMonacoChicagoILMembersrt:HotelMembersrt:MaximumMember2020-01-012020-12-310001616000xhr:KimptonHotelMonacoDenverCOMembersrt:HotelMember2020-12-310001616000xhr:KimptonHotelMonacoDenverCOMembersrt:HotelMembersrt:MinimumMember2020-01-012020-12-310001616000xhr:KimptonHotelMonacoDenverCOMembersrt:HotelMembersrt:MaximumMember2020-01-012020-12-310001616000srt:HotelMemberxhr:KimptonHotelMonacoSaltLakeCityUTMember2020-12-310001616000srt:HotelMemberxhr:KimptonHotelMonacoSaltLakeCityUTMembersrt:MinimumMember2020-01-012020-12-310001616000srt:HotelMemberxhr:KimptonHotelMonacoSaltLakeCityUTMembersrt:MaximumMember2020-01-012020-12-310001616000srt:HotelMemberxhr:KimptonHotelPalomarPhiladelphiaPAMember2020-12-310001616000srt:HotelMemberxhr:KimptonHotelPalomarPhiladelphiaPAMembersrt:MinimumMember2020-01-012020-12-310001616000srt:HotelMemberxhr:KimptonHotelPalomarPhiladelphiaPAMembersrt:MaximumMember2020-01-012020-12-310001616000xhr:KimptonLorienHotelAndSpaAlexandriaVAMembersrt:HotelMember2020-12-310001616000xhr:KimptonLorienHotelAndSpaAlexandriaVAMembersrt:HotelMembersrt:MinimumMember2020-01-012020-12-310001616000xhr:KimptonLorienHotelAndSpaAlexandriaVAMembersrt:HotelMembersrt:MaximumMember2020-01-012020-12-310001616000srt:HotelMemberxhr:KimptonRiverPlaceHotelPortlandORMember2020-12-310001616000srt:HotelMemberxhr:KimptonRiverPlaceHotelPortlandORMembersrt:MinimumMember2020-01-012020-12-310001616000srt:HotelMemberxhr:KimptonRiverPlaceHotelPortlandORMembersrt:MaximumMember2020-01-012020-12-310001616000xhr:LoewsNewOrleansNewOrleansLAMembersrt:HotelMember2020-12-310001616000xhr:LoewsNewOrleansNewOrleansLAMembersrt:HotelMembersrt:MinimumMember2020-01-012020-12-310001616000xhr:LoewsNewOrleansNewOrleansLAMembersrt:HotelMembersrt:MaximumMember2020-01-012020-12-310001616000xhr:MarriottCharlestonTownCenterCharlestonWVMembersrt:HotelMember2020-12-310001616000xhr:MarriottCharlestonTownCenterCharlestonWVMembersrt:HotelMembersrt:MinimumMember2020-01-012020-12-310001616000xhr:MarriottCharlestonTownCenterCharlestonWVMembersrt:HotelMembersrt:MaximumMember2020-01-012020-12-310001616000xhr:MarriottDallasCityCenterDallasTXMembersrt:HotelMember2020-12-310001616000xhr:MarriottDallasCityCenterDallasTXMembersrt:HotelMembersrt:MinimumMember2020-01-012020-12-310001616000xhr:MarriottDallasCityCenterDallasTXMembersrt:HotelMembersrt:MaximumMember2020-01-012020-12-310001616000xhr:MarriottSanFranciscoAirportWaterfrontSanFranciscoCAMembersrt:HotelMember2020-12-310001616000xhr:MarriottSanFranciscoAirportWaterfrontSanFranciscoCAMembersrt:HotelMembersrt:MinimumMember2020-01-012020-12-310001616000xhr:MarriottSanFranciscoAirportWaterfrontSanFranciscoCAMembersrt:HotelMembersrt:MaximumMember2020-01-012020-12-310001616000srt:HotelMemberxhr:MarriottWoodlandsWaterwayHotelConventionCenterWoodlandsTXMember2020-12-310001616000srt:HotelMemberxhr:MarriottWoodlandsWaterwayHotelConventionCenterWoodlandsTXMembersrt:MinimumMember2020-01-012020-12-310001616000srt:HotelMembersrt:MaximumMemberxhr:MarriottWoodlandsWaterwayHotelConventionCenterWoodlandsTXMember2020-01-012020-12-310001616000xhr:ParkHyattAviaraResortGolfClubAndSpaMembersrt:HotelMember2020-12-310001616000xhr:ParkHyattAviaraResortGolfClubAndSpaMembersrt:HotelMembersrt:MinimumMember2020-01-012020-12-310001616000xhr:ParkHyattAviaraResortGolfClubAndSpaMembersrt:HotelMembersrt:MaximumMember2020-01-012020-12-310001616000srt:HotelMemberxhr:RenaissanceAtlantaWaverlyHotelConventionCenterAtlantaGAMember2020-12-310001616000srt:HotelMemberxhr:RenaissanceAtlantaWaverlyHotelConventionCenterAtlantaGAMembersrt:MinimumMember2020-01-012020-12-310001616000srt:HotelMemberxhr:RenaissanceAtlantaWaverlyHotelConventionCenterAtlantaGAMembersrt:MaximumMember2020-01-012020-12-310001616000srt:HotelMemberxhr:RoyalPalmsResortAndSpaHyattUnboundCollectionMember2020-12-310001616000srt:HotelMemberxhr:RoyalPalmsResortAndSpaHyattUnboundCollectionMembersrt:MinimumMember2020-01-012020-12-310001616000srt:HotelMemberxhr:RoyalPalmsResortAndSpaHyattUnboundCollectionMembersrt:MaximumMember2020-01-012020-12-310001616000srt:HotelMemberxhr:RitzCarltonDenverColoradoMember2020-12-310001616000srt:HotelMemberxhr:RitzCarltonDenverColoradoMembersrt:MinimumMember2020-01-012020-12-310001616000srt:HotelMemberxhr:RitzCarltonDenverColoradoMembersrt:MaximumMember2020-01-012020-12-310001616000srt:HotelMemberxhr:RitzCarltonPentagonCityArlingtonVirginiaMember2020-12-310001616000srt:HotelMemberxhr:RitzCarltonPentagonCityArlingtonVirginiaMembersrt:MinimumMember2020-01-012020-12-310001616000srt:HotelMemberxhr:RitzCarltonPentagonCityArlingtonVirginiaMembersrt:MaximumMember2020-01-012020-12-310001616000srt:HotelMemberxhr:WaldorfAstoriaAtlantaBuckheadMember2020-12-310001616000srt:HotelMemberxhr:WaldorfAstoriaAtlantaBuckheadMembersrt:MinimumMember2020-01-012020-12-310001616000srt:HotelMemberxhr:WaldorfAstoriaAtlantaBuckheadMembersrt:MaximumMember2020-01-012020-12-310001616000srt:HotelMemberxhr:WestinGalleriaHoustonHoustonTXMember2020-12-310001616000srt:HotelMemberxhr:WestinGalleriaHoustonHoustonTXMembersrt:MinimumMember2020-01-012020-12-310001616000srt:HotelMemberxhr:WestinGalleriaHoustonHoustonTXMembersrt:MaximumMember2020-01-012020-12-310001616000xhr:WestinOaksHoustonattheGalleriaHoustonTXMembersrt:HotelMember2020-12-310001616000xhr:WestinOaksHoustonattheGalleriaHoustonTXMembersrt:HotelMembersrt:MinimumMember2020-01-012020-12-310001616000xhr:WestinOaksHoustonattheGalleriaHoustonTXMembersrt:HotelMembersrt:MaximumMember2020-01-012020-12-310001616000srt:HotelMember2020-12-31

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-K

(Mark One)

☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 2020

or

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period ended _____ to _____

Commission file number 001-36594

___________________________________

Registrant’s telephone number, including area code: (407) 246-8100

Securities registered pursuant to Section 12(g) of the Act: None

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. ☑ Yes ☐ No

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. ☐ Yes ☑ No

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to the filing requirements for the past 90 days. ☑ Yes ☐ No

Indicate by check mark whether the Registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). ☑ Yes ☐ No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer”, “smaller reporting company”, and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer

☑

Accelerated filer

☐

Non-accelerated filer

☐

Smaller reporting company

☐

Emerging growth company

☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

☐

Indicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.

☑

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). ☐ Yes ☑ No

The aggregate market value of the 112,604,407 shares of common stock held by non-affiliates of the registrant was approximately $1.05 billion based on the closing price of the New York Stock Exchange for such common stock as of June 30, 2020.

As of February 26, 2021, there were 113,784,630 shares of the registrant's common stock, $0.01 par value per share, outstanding.

DOCUMENTS INCORPORATED BY REFERENCE

The registrant incorporates by reference portions of its Definitive Proxy Statement for the 2021 Annual Meeting of Stockholders, which is expected to be held on May 18, 2021, into Part III of this Form 10-K to the extent stated herein.

Item No.

Part I

Page

Special Note Regarding Forward-Looking Statements

ii

Market and Industry Data

iv

Trademarks, Service Marks, and Tradenames

iv

Disclaimer

iv

Certain Defined Terms

v

Item 1.

Business

1

Item 1A.

Risk Factors

9

Item 1B.

Unresolved Staff Comments

39

Item 2.

Properties

40

Item 3.

Legal Proceedings

46

Item 4.

Mine Safety Disclosures

46

Part II

Item 5.

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

47

Item 6.

Selected Financial Data

50

Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

52

Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

79

Item 8.

Financial Statements and Supplementary Data

80

Item 9.

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

80

Item 9A.

Controls and Procedures

80

Item 9B.

Other Information

81

Part III

Item 10.

Directors, Executive Officers and Corporate Governance

81

Item 11.

Executive Compensation

81

Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

81

Item 13.

Certain Relationships and Related Transactions

82

Item 14.

Principal Accounting Fees and Services

82

Part IV

Item 15.

Exhibits and Financial Statements Schedules

83

Item 16.

Summary of Form 10-K Disclosures

88

Signatures

89

SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS

Certain statements in this Annual Report on Form 10-K ("Annual Report"), other than purely historical information, are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). These statements include statements about Xenia Hotels & Resorts, Inc.’s ("Xenia") plans, objectives, strategies, financial performance and outlook, trends, the short- and longer-term effects of the COVID-19 pandemic, the amount and timing of future cash distributions, prospects or future events and involve known and unknown risks that are difficult to predict. As a result, our actual financial results, performance, achievements or prospects may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as "may," "could," "expect," "intend," "plan," "seek," "anticipate," "believe," "estimate," "guidance," "predict," "potential," "continue," "likely," "will," "would," "illustrative" and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by Xenia and its management based on their knowledge and understanding of the business and industry, are inherently uncertain. These statements are not guarantees of future performance, and stockholders should not place undue reliance on forward-looking statements. There are a number of risks, uncertainties and other important factors, many of which are beyond our control, that could cause our actual results to differ materially from the forward-looking statements contained in this Annual Report. Such risks, uncertainties and other important factors, include, among others, the risks, uncertainties and factors set forth under "Part I-Item IA. Risk Factors" and "Part II-Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations," and the risks and uncertainties related to the following:

•the short- and longer-term effects of the COVID-19 pandemic, including the decreased demand for travel, transient and group business, and levels of consumer confidence;

•actions that governments, businesses, and individuals take in response to the COVID-19 pandemic or any future resurgence, including limiting or banning travel and social distancing requirements;

•the impact of the COVID-19 pandemic, and actions taken in response to the COVID-19 pandemic or any future resurgence, on global and regional economies, travel, and economic activity, including the duration and magnitude of its impact on unemployment rates and consumer discretionary spending;

•the ability of third-party managers or other partners to successfully navigate the impacts of the COVID-19 pandemic;

•the pace of recovery following the COVID-19 pandemic or any future resurgence;

•the COVID-19 pandemic may cause us to incur additional expenses. For example, depending on the length of furloughs for our third-party managers' employees at our hotels, we may be required to make additional severance payments to those furloughed employees that may be permanently laid off;

•our ability to successfully negotiate amendments and covenant waivers under our secured and unsecured indebtedness;

•our ability to comply with contractual covenants;

•business, financial and operating risks inherent to real estate investments and the lodging industry;

•seasonal and cyclical volatility in the lodging industry;

•adverse changes in specialized industries, such as the energy, technology and/or tourism industries, that result in a sustained downturn of related businesses and corporate spending that may negatively impact our revenues and results of operations;

•macroeconomic and other factors beyond our control that can adversely affect and reduce demand for hotel rooms, food and beverage services, and/or meeting facilities;

•contraction in the U.S. or global economy or low levels of economic growth;

•levels of spending in transient or group business and leisure segments as well as consumer confidence;

•declines in occupancy ("OCC") and average daily rate ("ADR");

•decreased business travel for in-person meetings due to technological advancements in virtual meetings and/or changes in guest and consumer preferences, including consideration of the impact of travel on the environment;

•fluctuations in the supply of hotels, due to hotel construction and/or renovation and expansion of existing hotels, and demand for hotel rooms;

•changes in the competitive environment in the lodging industry, including due to consolidation of management companies, franchisors, and online travel agencies, and changes in the markets where we own hotels;

•events beyond our control, such as war, terrorist or cyber-attacks, mass casualty events, government shutdowns and closures, travel-related health concerns, and natural disasters;

•cyber incidents and information technology failures, including unauthorized access to our computer systems and/or our vendors' computer systems, or our third-party management companies' or franchisors' computer systems and/or their vendors' computer systems;

•our inability to directly operate our properties and reliance on third-party hotel management companies to operate and manage our hotels;

•our ability to maintain good relationships with our third-party hotel management companies and franchisors;

•our failure to maintain brand operating standards;

•our ability to maintain our brand licenses at our hotels;

•relationships with labor unions and changes in labor laws, including increases to minimum wages;

•loss of our senior management team or key personnel;

•our ability to identify and consummate additional acquisitions and dispositions of hotels;

•our ability to integrate and successfully operate any hotel properties that we acquire in the future and the risks associated with these hotel properties;

•the impact of hotel renovations, repositionings, redevelopments and re-branding activities;

•our ability to access capital for renovations, acquisitions, and general operating needs on terms and at times that are acceptable to us;

•the fixed cost nature of hotel ownership;

•our ability to service, restructure or refinance our debt;

•changes in interest rates and operating costs, including labor and service related costs;

•compliance with regulatory regimes and local laws;

•uninsured or underinsured losses, including those relating to natural disasters, civil unrest, terrorism or cyber-attacks, and the physical effects of climate change;

•changes in distribution channels, such as through internet travel intermediaries or websites that facilitate the short-term rental of homes and apartments from owners;

•the amount of debt that we currently have or may incur in the future;

•provisions in our debt agreements that may restrict the operation of our business;

•our organizational and governance structure;

•our status as a real estate investment trust ("REIT");

•our taxable REIT subsidiary ("TRS") lessee structure;

•the cost of compliance with and liabilities under environmental, health and safety laws;

•adverse litigation judgments or settlements;

•changes in real estate and zoning laws;

•increases in real property tax valuations or rates;

•increases in insurance costs or other fixed costs;

•changes in federal, state or local tax law, including legislative, administrative, regulatory or other actions affecting REITs;

•changes in governmental regulations or interpretations thereof; and

•estimates relating to our ability to make distributions to our stockholders in the future.

These factors are not necessarily all of the important factors that could cause our actual financial results, performance, achievements or prospects to differ materially from those expressed in or implied by any of our forward-looking statements. Other unknown or unpredictable factors also could harm our results. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the cautionary statements set forth above. Forward-looking statements speak only as of the date they are made, and we do not undertake or assume any obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable laws. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.

The "Company", "Xenia", "we", "our" or "us" means Xenia Hotels & Resorts, Inc. and one or more of its subsidiaries (including XHR LP (the "Operating Partnership") and XHR Holding, Inc. (together with its wholly-owned subsidiaries, "XHR Holding")), or, as the context may require, Xenia Hotels & Resorts, Inc. only, the Operating Partnership only or XHR Holding only.

MARKET AND INDUSTRY DATA

The market data and certain other statistical information used throughout this Annual Report are based on independent industry publications, government publications or other published independent sources. These sources generally state that the information they provide has been obtained from sources believed to be reliable, but that the accuracy and completeness of the information are not guaranteed. The forecasts and projections are based on industry surveys and the preparers’ experience in the industry, and there is no assurance that any of the projected amounts will be achieved. We believe that the surveys and market research others have performed are reliable, but we have not independently verified this information. STR Inc. ("STR") is the primary source for third-party market data and industry statistics and forecasts. STR does not guarantee the performance of any company about which it collects and provides data. The reproduction of STR’s data without their written permission is strictly prohibited. Nothing in the STR data should be construed as advice. Some data is also based on our good faith estimates.

TRADEMARKS, SERVICE MARKS AND TRADENAMES

Xenia Hotels & Resorts® and related trademarks, trade names and service marks of Xenia appearing in this Annual Report are the property of Xenia. Unless otherwise noted, all other trademarks, trade names or service marks appearing in this Annual Report are the property of their respective owners, including Marriott International, Inc., Hyatt Corporation, Kimpton Hotel & Restaurant Group, LLC, Fairmont Hotels & Resorts, Loews Hotels, Inc., and Hilton Worldwide Inc. or their respective parents, subsidiaries or affiliates ("Brand Companies"). In the event that any of our management agreements or franchise agreements with the Brand Companies are terminated for any reason, the use of all applicable trademarks and service marks owned by the Brand Companies will cease at the hotel where the management agreement or franchise agreement was terminated; all signs and materials bearing the marks and other indicia connecting the hotel to the Brand Companies will be removed at our expense.

DISCLAIMER

None of the Brand Companies or their respective directors, officers, agents or employees are issuers of the shares described herein or had responsibility for the creation or contents of this Annual Report. None of the Brand Companies or their respective directors, officers, agents or employees make any representation or warranty as to the accuracy, adequacy or completeness of any of the following information, including any financial information and any projections of future performance. The Brand Companies do not have an exclusive relationship with us and will continue to be engaged in other business ventures, including the acquisition, development, construction, ownership or operation of lodging, residential and vacation ownership properties, which are or may become competitive with the properties held by us.

CERTAIN DEFINED TERMS

Except where the context suggests otherwise, we define certain terms in this Annual Report as follows:

•"ADR" or "average daily rate" means rooms revenues divided by total number of rooms sold in a given period;

•"occupancy" means the total number of rooms sold in a given period divided by the total number of rooms available, regardless of operational status, at a hotel or group of hotels;

•"RevPAR" or "revenue per available room" means rooms revenues divided by room nights available, regardless of operational status, in a given period, and does not include non-rooms revenues such as food and beverage revenues or other operating revenues;

•"Top 25 lodging markets" refers to the top 25 U.S. lodging markets as defined by STR;

•an "upper upscale" hotel refers to an upper upscale hotel as defined by STR;

•a "luxury" hotel refers to a luxury hotel as defined by STR;

•"Fairmont," "Hilton," "Hyatt," "Kimpton," "Loews," and "Marriott," mean Fairmont Hotels & Resorts, Hilton Worldwide Inc., Hyatt Corporation, Kimpton Hotel & Restaurant Group, LLC, Loews Hotels, Inc. and Marriott International, Inc., respectively, as well as their respective parents, subsidiaries or affiliates.