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Xenia Hotels discloses agreed sale of Honolulu property

Xenia Hotels & Resorts Inc. agreed in December 2017 to sell the leasehold interest in the Aston Waikiki Beach Hotel in Honolulu for $200 million, representing a 12.6x multiple on the asset's 2017 hotel EBITDA.

The hotel real estate investment trust said in its fourth-quarter earnings release that the buyer of the property has a $10 million deposit at risk, adding that the sale is expected to close in the first quarter.