07:04 AM EDT, 04/11/2025 (MT Newswires) -- Xenia Hotels & Resorts ( XHR ) said Friday it has sold the 545-room Fairmont Dallas for $111 million.

The company acquired Fairmont Dallas in 2011 for $69 million.

"The disposition reflects our ongoing focus on upgrading the quality of the portfolio, prudent capital allocation, and maintaining balance sheet strength and flexibility," Marcel Verbaas, chair and chief executive officer of Xenia, said.

The company said it plans to use the net proceeds for general corporate purposes, which may include debt repayments, potential acquisitions and share repurchases.