A $483 Million Kimpton Hotel Sale Collapses in Two Months (1)

A real estate deal can fall apart quickly during a deadly pandemic.

Xenia Hotels & Resorts Inc. said in a filing Tuesday that its $483 million agreement to sell seven U.S. Kimpton hotels has been called off, just two months after it was announced.

The canceled sale is smaller than other recently scuttled real estate transactions, including Mirae Asset Global Investments Co.’s planned $5.8 billion acquisition of a portfolio of U.S. luxury hotels and Amherst Holding’s proposed $2.3 billion purchase of 15,000 single-family rental homes.

But the Xenia deal is noteworthy for how quickly it fell apart. The real estate ...