The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Joshua Friedland - KeyBanc Capital Markets Inc - Analyst
: It's Josh Friedland on for Austin. Just wondering, have group booking trends evolved in response to the current uncertainty? Have you seen any
Question: Joshua Friedland - KeyBanc Capital Markets Inc - Analyst
: Okay, that's helpful. And have you seen any meaningful impact from lower international inbound travel thus far? And which of your markets are
most exposed to international inbound?
Question: Michael Bellisario - Baird - Analyst
: I just want to ask on Santa Clara. Maybe could you give us some background on the process? I mean, who approached whom, and I guess, sort of
bigger picture, just why now? And then you mentioned optionality. I assume that means either renovate or sell or maybe there's a third option in
there, too.
Maybe just help us think about how you're evaluating that decision now. And what would push you one way or the other?
Question: Michael Bellisario - Baird - Analyst
: Got it. Understood. And then just for Barry on CapEx, maybe just on the couple of projects that you're deferring or pushing out. I guess, is the plan
to reevaluate that later this year and do those next year? And then how do you think about weighing sort of the impact on returns and relative
RevPAR index of those properties by deciding not to spend the CapEx or the relative positioning within the respective markets?
Any context there would be helpful.
Question: Aryeh Klein - BMO Capital Markets - Analyst
: Can you maybe give a little bit of color on what you're seeing more recently from a leisure standpoint and any behavioral changes that you're
seeing? And then what's implied for the leisure segment within the full year guide?
Question: Aryeh Klein - BMO Capital Markets - Analyst
: And then maybe on group. Obviously, 2025 is an incredibly strong year for you. Anything you can share on 2026 and what that's beginning to look
like? And then maybe more specifically in Scottsdale, how are group bookings shaping up there for future years?
REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us
consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies.
MAY 02, 2025 / 5:00PM, XHR.N - Q1 2025 Xenia Hotels & Resorts Inc Earnings Call
Question: Jackson Armstrong - Wells Fargo - Analyst
: What are you seeing in terms of mix shift in your group business? A lot of your peers have pointed to the government business falling off pretty
sharply in March before kind of getting to a stabilized level in April and then a broader shift towards association business throughout the portfolio.
Are you seeing similar trends in your portfolio or things played out differently for you guys?
Question: Jackson Armstrong - Wells Fargo - Analyst
: Okay, great. That's really helpful. And then just jumping back to capital projects. I know you talked about seasonality at these hotels and the decision
to defer. Would it be fair to assume that these projects are going to get done in '26 if we end up in a more normal macro environment by the end
of the year and the relative disruption would be a little bit higher in '26?
Question: Jackson Armstrong - Wells Fargo - Analyst
: Okay, really helpful. And what portion of that $25 million reduction in CapEx guidance is related to the Fairmont?
| 
