Inland American Real Estate Trust (IARE) announced that its has formally authorized the distribution of 95% of the shares of common stock of Xenia Hotels & Resorts (XHR) to its stockholders. Following the distribution, Xenia will be a self-managed, publicly traded real estate investment trust (“REIT”) listed on the New York Stock Exchange under the symbol XHR. The company will focus on investing in premium full service, lifestyle and urban upscale hotels in the top 25 U.S. lodging markets and key leisure destinations throughout the United States. The distribution is expected to occur on 2/3. Source
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