ORLANDO—Xenia Hotels just snapped up $245 million worth of hotels. The firm acquired fee simple interests in three high-quality lifestyle boutique hotels. The company funded the acquisitions with cash and its line of credit.

The 84-room RiverPlace Hotel is located in Downtown Portland right next to the Tom McCall Waterfront Park. The 97-room Canary Hotel is located in Downtown Santa Barbara, CA. And the 230-room Hotel Palomar is in Downtown Philadelphia's Center City District near Rittenhouse Square.

"We are thrilled to have acquired the RiverPlace Hotel, the Canary Hotel and the Hotel Palomar, three luxury lifestyle boutique hotels located in high barrier to entry markets with diverse demand generators," says Marcel Verbaas, president and CEO of Xenia. "The acquisition of these distinctive hotels further exemplifies our strategy of continually enhancing our portfolio by investing in high-quality assets in major lodging markets and key leisure destinations."