07:22 AM EDT, 07/10/2024 (MT Newswires) -- Xenia Hotels & Resorts ( XHR ) said Tuesday it has completed selling the 107-room Lorien Hotel & Spa in Alexandria, Virginia, for $30 million or about $280,000 per key.

The sale price reflects a multiple of 21.3 times hotel EBITDA and a capitalization rate of 3.1% on net operating income for the 12 months ended May 31.

The company said proceeds will be used for general corporate purposes.