Xenia Hotels & Resorts Inc. agreed to sell a seven, Kimpton-managed hotel portfolio with 1,124 rooms for $483 million.

The portfolio comprises Canary Hotel Santa Barbara in California; Hotel Monaco Chicago; Hotel Monaco Denver; Hotel Monaco Salt Lake City; Hotel Palomar Philadelphia; Lorien Hotel & Spa in Alexandria, Va.; and RiverPlace Hotel in Portland, Ore.

Closing is expected by early May, but the purchaser can extend the closing date to early June with the payment of an additional deposit.

The hotel and resort real estate investment trust expects net proceeds of about $420 million, which will go toward general corporate purposes.