ORLANDO, Fla., May 26, 2021 /PRNewswire/ -- Xenia
Hotels & Resorts, Inc. (NYSE: XHR) ("Xenia" or the "Company")
today announced the appointment of Mr. Terrence Moorehead to its Board of Directors,
effective May 25, 2021. Mr.
Moorehead was also appointed as a member of the Audit Committee
effective May 25, 2021. With the
appointment, the Company's Board of Directors increased to nine
members, eight of whom are independent, including Mr.
Moorehead.
"On behalf of the Board of Directors and the management team, we
are pleased to welcome Terrence to our Board," commented
Marcel Verbaas, Chairman and Chief
Executive Officer of Xenia. "Terrence brings a fresh and
diverse perspective to the Board, and we look forward to his
contributions that will further enhance our leadership. His
expertise in high-end consumer products and behaviors as well as
his experience in and focus on health and wellness are valuable
attributes that are directly relevant to the upper upscale and
luxury lodging segments. Additionally, his strategic insights that
have been honed by executive leadership roles throughout the world
will be of significant value."
Mr. Moorehead currently serves as President, Chief Executive
Officer, and a director on the board of Nature's Sunshine Products,
Inc (NASDAQ: NATR) ("Nature's Sunshine"), a leading natural health
and wellness company. Prior to joining Nature's Sunshine in
2018, Mr. Moorehead was Chief Executive Officer at Carlisle
Etcetera LLC from 2015 through 2018, and at Dana Beauty, Inc. from
2013 to 2015. From 1991 to 2013 he served in various
capacities at Avon Products, Inc., including, among other
positions, as VP, Strategy and Digital, North America, President and Chairman of Avon
Japan, President of Avon Canada, and General Manager of Avon
Italy.
Mr. Moorehead received his Master of Business Administration
from Columbia University and a Bachelor
of Arts in Economics from Boston
College.
"I am excited to be joining Xenia's Board of Directors and to
have the opportunity to work with such an outstanding team of
professionals. The Company's high-quality properties,
differentiated portfolio, and top-notch management team are a
powerful combination and I look forward to working with the team to
deliver increased shareholder value," commented Mr. Moorehead.
About Xenia Hotels & Resorts, Inc.
Xenia Hotels & Resorts, Inc. is a self-advised and
self-administered REIT that invests in uniquely positioned luxury
and upper upscale hotels and resorts with a focus on the top 25
U.S. lodging markets as well as key leisure destinations in
the United States. The Company
owns 35 hotels and resorts comprising 10,011 rooms across 15
states. Xenia's hotels are in the luxury and upper upscale
segments, and are operated and/or licensed by industry leaders such
as Marriott, Hyatt, Kimpton, Fairmont, Loews, Hilton, and The
Kessler Collection. For more information on Xenia's business, refer
to the Company website at www.xeniareit.com.
This press release contains statements as to the Company's
beliefs and expectations of the outcome of future events that are
forward-looking statements as defined in the Private Securities
Litigation Reform Act of 1995 and within the meaning of Section 27A
of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. You can identify these
statements by the fact that they do not relate strictly to
historical or current facts. These forward-looking statements are
subject to risks and uncertainties that could cause actual results
to differ materially from the statements made. These risks and
uncertainties include, but are not limited to, the effects of the
COVID-19 pandemic, including on the demand for travel, transient
and group business (including, but not limited to,
government-imposed travel or meeting restrictions), and levels of
consumer confidence in the safety of travel as a result of the
pandemic; the length of the COVID-19 pandemic and severity of such
pandemic in the United States; the
pace of economic recovery and the recovering of consumer confidence
following the COVID-19 pandemic; our ability to implement
cost-containment strategies; the adverse effects of the COVID-19
pandemic on our business or the market price of our common stock;
and our ability to service, restructure or refinance our debt; our
ability to be in compliance with our debt covenants; our ability to
access capital on acceptable terms or at all and uncertainty in
both the debt and equity capital markets; and the outcome of legal
proceedings or other disputes. Other factors that could cause
results to differ are described in the filings made from time to
time by the Company with the U.S. Securities and Exchange
Commission and include the risk factors and other risks and
uncertainties described in the Company's Annual Report on Form 10-K
for the year ended December 31, 2020,
its Quarterly Report on Form 10-Q for the quarter ended
March 31, 2021 and its Current
Reports on Form 8-K. Except as required by law, the Company does
not undertake, and hereby disclaims, any obligation to release
publicly any revisions to forward-looking statements made by it to
reflect events or circumstances occurring after the date hereof or
the occurrence of unanticipated events.
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SOURCE Xenia Hotels & Resorts, Inc.