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Side-by-side financial comparison of ASHFORD HOSPITALITY TRUST INC (AHT) and Xenia Hotels & Resorts, Inc. (XHR). Click either name above to swap in a different company.
Xenia Hotels & Resorts, Inc. is the larger business by last-quarter revenue ($265.6M vs $259.0M, roughly 1.0× ASHFORD HOSPITALITY TRUST INC). Xenia Hotels & Resorts, Inc. runs the higher net margin — 2.3% vs -26.8%, a 29.1% gap on every dollar of revenue. On growth, Xenia Hotels & Resorts, Inc. posted the faster year-over-year revenue change (1.4% vs -6.0%). Xenia Hotels & Resorts, Inc. produced more free cash flow last quarter ($5.5M vs $-86.8M). Over the past eight quarters, Xenia Hotels & Resorts, Inc.'s revenue compounded faster (-0.4% CAGR vs -7.7%).
Ashford Hospitality Trust Inc is a U.S.-headquartered real estate investment trust focused on upper-upscale full-service hotel properties across key U.S. urban, suburban and resort markets. Its portfolio holds assets under top global hospitality brands, serving business and leisure travelers, with a focus on long-term value growth and stable shareholder returns.
Xenia Hotels & Resorts, Inc. is a real estate investment trust that invests in hotels. As of December 31, 2024, it owned 31 hotels comprising 9,408 rooms.
AHT vs XHR — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $259.0M | $265.6M |
| Net Profit | $-69.3M | $6.1M |
| Gross Margin | — | 30.4% |
| Operating Margin | -2.6% | 10.1% |
| Net Margin | -26.8% | 2.3% |
| Revenue YoY | -6.0% | 1.4% |
| Net Profit YoY | 44.2% | 1053.6% |
| EPS (diluted) | $-12.85 | $0.07 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $259.0M | $265.6M | ||
| Q3 25 | $266.1M | $236.4M | ||
| Q2 25 | $302.0M | $287.6M | ||
| Q1 25 | $277.4M | $288.9M | ||
| Q4 24 | $275.5M | $261.8M | ||
| Q3 24 | $276.6M | $236.8M | ||
| Q2 24 | $316.5M | $272.9M | ||
| Q1 24 | $303.9M | $267.5M |
| Q4 25 | $-69.3M | $6.1M | ||
| Q3 25 | $-60.1M | $-13.7M | ||
| Q2 25 | $-30.4M | $55.2M | ||
| Q1 25 | $-20.0M | $15.6M | ||
| Q4 24 | $-124.2M | $-638.0K | ||
| Q3 24 | $-57.9M | $-7.1M | ||
| Q2 24 | $50.3M | $15.3M | ||
| Q1 24 | $71.6M | $8.5M |
| Q4 25 | — | 30.4% | ||
| Q3 25 | — | 25.1% | ||
| Q2 25 | — | 33.6% | ||
| Q1 25 | — | 32.3% | ||
| Q4 24 | — | 29.0% | ||
| Q3 24 | — | 25.8% | ||
| Q2 24 | — | 31.9% | ||
| Q1 24 | — | 31.6% |
| Q4 25 | -2.6% | 10.1% | ||
| Q3 25 | 4.6% | 2.0% | ||
| Q2 25 | 16.3% | 14.0% | ||
| Q1 25 | 22.2% | 12.4% | ||
| Q4 24 | -17.8% | 8.2% | ||
| Q3 24 | 7.3% | 3.2% | ||
| Q2 24 | 42.8% | 11.1% | ||
| Q1 24 | 50.2% | 10.3% |
| Q4 25 | -26.8% | 2.3% | ||
| Q3 25 | -22.6% | -5.8% | ||
| Q2 25 | -10.1% | 19.2% | ||
| Q1 25 | -7.2% | 5.4% | ||
| Q4 24 | -45.1% | -0.2% | ||
| Q3 24 | -20.9% | -3.0% | ||
| Q2 24 | 15.9% | 5.6% | ||
| Q1 24 | 23.5% | 3.2% |
| Q4 25 | $-12.85 | $0.07 | ||
| Q3 25 | $-11.35 | $-0.14 | ||
| Q2 25 | $-6.88 | $0.56 | ||
| Q1 25 | $-4.91 | $0.15 | ||
| Q4 24 | $-13.64 | $-0.01 | ||
| Q3 24 | $-12.39 | $-0.07 | ||
| Q2 24 | $2.50 | $0.15 | ||
| Q1 24 | $5.99 | $0.08 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $66.1M | $140.4M |
| Total DebtLower is stronger | $2.5B | $1.4B |
| Stockholders' EquityBook value | $-626.4M | $1.1B |
| Total Assets | $2.8B | $2.8B |
| Debt / EquityLower = less leverage | — | 1.25× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $66.1M | $140.4M | ||
| Q3 25 | $81.9M | $188.2M | ||
| Q2 25 | $100.0M | $172.6M | ||
| Q1 25 | $85.8M | $112.6M | ||
| Q4 24 | $112.9M | $78.2M | ||
| Q3 24 | $119.7M | $161.5M | ||
| Q2 24 | $121.8M | $143.6M | ||
| Q1 24 | $111.1M | $140.1M |
| Q4 25 | $2.5B | $1.4B | ||
| Q3 25 | $2.6B | $1.4B | ||
| Q2 25 | $2.6B | $1.4B | ||
| Q1 25 | $2.7B | $1.4B | ||
| Q4 24 | $2.6B | $1.3B | ||
| Q3 24 | $2.7B | $1.4B | ||
| Q2 24 | $2.8B | $1.4B | ||
| Q1 24 | $2.9B | $1.4B |
| Q4 25 | $-626.4M | $1.1B | ||
| Q3 25 | $-548.7M | $1.2B | ||
| Q2 25 | $-485.5M | $1.2B | ||
| Q1 25 | $-446.1M | $1.2B | ||
| Q4 24 | $-419.2M | $1.2B | ||
| Q3 24 | $-288.4M | $1.3B | ||
| Q2 24 | $-225.9M | $1.3B | ||
| Q1 24 | $-276.8M | $1.3B |
| Q4 25 | $2.8B | $2.8B | ||
| Q3 25 | $3.0B | $2.9B | ||
| Q2 25 | $3.1B | $2.9B | ||
| Q1 25 | $3.1B | $2.9B | ||
| Q4 24 | $3.2B | $2.8B | ||
| Q3 24 | $3.3B | $2.9B | ||
| Q2 24 | $3.3B | $2.9B | ||
| Q1 24 | $3.5B | $2.9B |
| Q4 25 | — | 1.25× | ||
| Q3 25 | — | 1.21× | ||
| Q2 25 | — | 1.17× | ||
| Q1 25 | — | 1.18× | ||
| Q4 24 | — | 1.07× | ||
| Q3 24 | — | 1.11× | ||
| Q2 24 | — | 1.09× | ||
| Q1 24 | — | 1.09× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-15.7M | $21.4M |
| Free Cash FlowOCF − Capex | $-86.8M | $5.5M |
| FCF MarginFCF / Revenue | -33.5% | 2.1% |
| Capex IntensityCapex / Revenue | 27.5% | 6.0% |
| Cash ConversionOCF / Net Profit | — | 3.52× |
| TTM Free Cash FlowTrailing 4 quarters | $-135.5M | $89.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-15.7M | $21.4M | ||
| Q3 25 | $5.5M | $64.0M | ||
| Q2 25 | $16.3M | $36.3M | ||
| Q1 25 | $-25.0M | $54.8M | ||
| Q4 24 | $-23.6M | $30.6M | ||
| Q3 24 | $795.0K | $51.2M | ||
| Q2 24 | $8.0M | $57.2M | ||
| Q1 24 | $-46.5M | $24.7M |
| Q4 25 | $-86.8M | $5.5M | ||
| Q3 25 | $-226.0K | $44.2M | ||
| Q2 25 | $-3.6M | $17.8M | ||
| Q1 25 | $-44.8M | $22.4M | ||
| Q4 24 | $-131.6M | $6.2M | ||
| Q3 24 | $-21.8M | $4.3M | ||
| Q2 24 | $-22.9M | $21.4M | ||
| Q1 24 | $-80.4M | $-8.7M |
| Q4 25 | -33.5% | 2.1% | ||
| Q3 25 | -0.1% | 18.7% | ||
| Q2 25 | -1.2% | 6.2% | ||
| Q1 25 | -16.2% | 7.8% | ||
| Q4 24 | -47.8% | 2.4% | ||
| Q3 24 | -7.9% | 1.8% | ||
| Q2 24 | -7.2% | 7.8% | ||
| Q1 24 | -26.5% | -3.3% |
| Q4 25 | 27.5% | 6.0% | ||
| Q3 25 | 2.1% | 8.4% | ||
| Q2 25 | 6.6% | 6.4% | ||
| Q1 25 | 7.2% | 11.2% | ||
| Q4 24 | 39.2% | 9.3% | ||
| Q3 24 | 8.2% | 19.8% | ||
| Q2 24 | 9.8% | 13.1% | ||
| Q1 24 | 11.2% | 12.5% |
| Q4 25 | — | 3.52× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 0.66× | ||
| Q1 25 | — | 3.51× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 0.16× | 3.73× | ||
| Q1 24 | -0.65× | 2.90× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AHT
| Occupancy | $190.2M | 73% |
| Food And Beverage | $51.8M | 20% |
| Hotel Other | $16.6M | 6% |
XHR
| Other Geographic Areas | $79.1M | 30% |
| Orlando Florida | $35.5M | 13% |
| Phoenix Arizona | $32.4M | 12% |
| Houston Texas | $29.0M | 11% |
| San Diego California | $25.5M | 10% |
| Atlanta Georgia | $16.2M | 6% |
| San Francisco San Mateo California | $14.8M | 6% |
| Nashville TN | $11.7M | 4% |
| San Jose Santa Cruz CA | $10.5M | 4% |
| Hotel Other Direct | $6.6M | 2% |
