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Xenia Hotels launches $200M continuous equity offering

Xenia Hotels & Resorts Inc. may offer up to $200 million of its common stock in at-the-market offerings from time to time under a continuous equity offering program.

The hotel-focused real estate investment trust and its operating partnership signed an equity distribution agreement with Wells Fargo Securities LLC, Robert W. Baird & Co. Inc., Jefferies LLC, KeyBanc Capital Markets Inc. and Raymond James & Associates Inc. in connection with the offering.

The company will funnel any proceeds to the operating partnership, which will use them for general corporate purposes including repayment of outstanding debt under its credit facility, for working capital and for potential future transactions.