Xenia's Q4 Margin Expansion Is the Real Story. The RevPAR Number Is Just the Appetizer.
Xenia Hotels posted a 4.5% RevPAR gain in Q4, and most outlets stopped there. The number worth staring at is the 214 basis points of EBITDA margin expansion underneath it... because that tells you something about flow-through discipline that most hotel owners should be measuring themselves against right now.