Xenia Hotels & Resorts, Inc. (NYSE:XHR) Q4 2022 Earnings Call Transcript

Marcel Verbaas: No. We’ve obviously, Bill, as you know, we don’t want to get too specific as it relates to any kind of particulars on some of the agreements that we have in place with our operators. If you think about what is, let me answer it in a little bit different way, because I think part of your question is also as it relates to, what is the right positioning for the resort in and of itself, right, as we clearly looked at, we think there’s an opportunity to brand this hotel. We think of completely veteran as luxury competitive set, by going with a brand that has little be more cachet and is appropriate for luxury resort, and felt that Grand Hyatt has the right branding here, for a number of reasons. I mean, the size of the resort, as opposed to Park Hyatt that are generally a little bit more intimate, a little bit smaller.

Having this kind of size, this kind of meeting space, being able to attract the right kind of customers that we’re looking for, having the type of expense structure in place that we want to have in place with this asset. And as you know, we’ve obviously have a wide range of assets, including within the Hyatt brand where we do at the Park Hyatt Aviara, which is smaller from a rooms perspective, where it’s more appropriate to have depth brands than here. And the Grand Hyatt brand is something that’s — there’s obviously a mix of those assets throughout their portfolio too. There is obviously a few more that are urban focus. If you think about the resort locations that Grand Hyatt has, both domestically and internationally, you really have to think more about like and that’s when the outstanding resort in Hawaii for example, that is the Grand Hyatt resort, that is probably the prototypical luxury resorts.

It’s more around thinking about it in that context, and why we think Grand Hyatt is the right brand name for this asset.

Bill Crow: Okay. It’s feels like that’s the market were Park Hyatt would be a good fit. So that was really what spurred my question. Alright. Terrific. Thank you.

Marcel Verbaas: Thank you.

Operator: Thank you. There are no further questions at this time. I will now pass it back over to Marcel Verbaas for closing remarks.

Marcel Verbaas: Thanks Tamia. Thank you all for joining the call today. We always appreciate the questions and look forward to updating you again next quarter.

Operator: This concludes the conference call. Thank you for your participation. You may now disconnect your line.