close

Xenia Hotels head office reduced by 20% since COVID-19 outbreak

Xenia_Hotels_&_Resorts_logo

Xenia Hotels and Resorts, which invests primarily in luxury and upper-end hotels, has announced that it is eliminating the job role of chief investment officer.

This is in a bid to streamline the company due to the financial difficulties imposed by the coronavirus and consequent lockdown.

It means that chief investment officer and senior vice president Philip A Wade has parted ways with Xenia.

Story continues below
Advertisement

This change means the company’s head office in Orlando, Florida has now reduced its staff headcount by 20% since the outbreak of COVID-19.

Marcel Verbaas, chairman and CEO of Xenia Hotels & Resorts, commented: “Due to the unprecedented impact of COVID-19, we have made the difficult decision to streamline our corporate functions. 

“I want to thank Phil for his contributions to the Company over the last 13 years. 

“Phil has been a valued member of our executive team throughout the Company’s evolution into a leading owner of luxury and upper-upscale hotels and resorts. 

“He has been a great partner to me as we have transformed the Company’s portfolio by completing over $7 billion of transactions. Our transaction function remains a strength of ours and will remain under my direct supervision. 

“On behalf of the entire Xenia team and our Board of Directors, I wish Phil the best in his future endeavors.”

Xenia’s hotels are primarily in the luxury and upper-scale segments, and operated or licensed by industry leaders such as Marriott, Hyatt, Kimpton, Fairmont, Loews, and Hilton, as well as leading independent management companies including The Kessler Collection and Sage Hospitality.

Tags : coronavirusXenia Hotels
Sam Lewis

The author Sam Lewis

Leave a Response