Diamondrock Hospitality Co Stock Price, News & Analysis

DiamondRock Hospitality Company (NYSE: DRH) has released the tax treatment details for its 2024 dividend distributions for both common and Series A preferred stockholders. For common stock, the company paid quarterly dividends of $0.03 per share for the first three quarters, followed by an increased dividend of $0.23 per share in the fourth quarter. The total common stock dividend for 2024 was $0.32 per share.

For Series A preferred stock, DRH maintained consistent quarterly payments of $0.515625 per share throughout 2024, totaling $2.0625 per share annually. All distributions for both common and preferred shares qualify as ordinary dividends and Section 199A dividends for tax purposes.

DiamondRock Hospitality Company (NYSE: DRH) has expanded its Board of Directors from eight to nine members with the appointment of Stephanie Lepori, effective January 15, 2025. Lepori, who currently serves as Chief Administrative and Accounting Officer at Caesars Entertainment, brings nearly three decades of hospitality and gaming industry experience.

In her role at Caesars, Lepori oversees accounting, SEC reporting, payroll, budgeting, insurance management, and human resources functions. Her expertise includes leading large-scale financing transactions, growth initiatives, and acquisitions of hospitality and gaming companies. Prior to Caesars, she worked at Arthur Andersen LLP in Las Vegas.

Lepori holds a BS in Accounting from USC with Magna Cum Laude and Phi Beta Kappa honors and is a CPA. She actively serves on non-profit boards, including the Truckee Meadows Boys and Girls Club and Renown Health.

DiamondRock Hospitality Company (NYSE: DRH) has announced its schedule for reporting fourth quarter and full year 2024 financial results. The company will release its earnings after market close on Thursday, February 27, 2025, followed by a conference call for investors on Friday, February 28, 2025 at 10:00 a.m. Eastern Time.

Interested participants can access the conference call details by registering through the provided link, which will be available on the company's investor relations website. A replay of the call will be accessible on the company's website for a time, starting two hours after the call's completion.

DiamondRock Hospitality (NYSE: DRH) has declared a fourth quarter dividend of $0.23 per common share, consisting of a regular quarterly dividend of $0.03 and a stub dividend of $0.20. The dividend will be paid on January 14, 2025, to shareholders of record as of December 31, 2024.

Total dividends for 2024 amount to $0.32 per share, representing a 3.3% annual yield based on December 6, 2024 closing price. The company anticipates declaring regular quarterly dividends of $0.08 per common share in 2025, with a potential stub dividend in Q4 2025.

Additionally, a quarterly dividend of $0.515625 per share was declared on the 8.250% Series A Cumulative Redeemable Preferred Stock, payable December 31, 2024.

DiamondRock Hospitality Company (NYSE: DRH) has received two major sustainability recognitions in 2024. The company was awarded the Nareit's Leader in the Light Award for the lodging and resorts sector, acknowledging their leadership in sustainable and socially responsible practices. Additionally, DiamondRock achieved GRESB Sector Leader Status and a #1 ranking among hotel peers for the fifth consecutive year.

The company secured multiple sector leader positions in GRESB's 2024 assessment, including Global Listed Sector Leader/Hotel and Regional Listed Sector Leader/Americas/Hotel. DiamondRock also earned 4 Green Stars and maintained Green Star status for the seventh consecutive year, while ranking first among U.S. Hotels with an 'A' score in GRESB Public Disclosure.

DiamondRock Hospitality Company (NYSE: DRH) has acquired the AC Hotel Minneapolis Downtown for $30 million ($122,000 per key). The 245-room hotel, built in 2016, is located in downtown Minneapolis, a major hub for Fortune 1000 companies and biotechnology. The acquisition represents an 8.2% capitalization rate on forecasted 2024 net operating income and brings DRH's portfolio to 37 hotels. The property is expected to add 20 basis points to comparable full-year RevPAR growth and 10 basis points to Total RevPAR growth, though it won't significantly impact 2024 Adjusted EBITDA or FFO per share.

DiamondRock Hospitality Company (NYSE: DRH), a lodging REIT, reported its Q3 2024 results. Net income stood at $26.6 million ($0.11 per diluted share). Comparable revenues rose 2.5% YoY to $285.1 million, while Comparable RevPAR increased 2.8% to $214.44. Adjusted EBITDA grew 3.3% to $75.6 million. The company repaid a $73.3 million mortgage and extended a $300 million unsecured term loan to January 2026. Share repurchases totaled 0.7 million shares at $8.14/share, amounting to $5.4 million. Full-year guidance for RevPAR was adjusted to 1.5%-2.0% growth, reflecting hurricane impacts. Liquidity was $591.7 million, including $75.3 million in unrestricted corporate cash. Capital expenditures are projected at $85 million for 2024, with $58.4 million already invested.

DiamondRock Hospitality Company (NYSE: DRH) has announced its schedule for the third quarter 2024 earnings release and conference call. The company will report its financial results after market close on Thursday, November 7, 2024. A conference call for investors and interested parties is set for Friday, November 8, 2024, at 9:00 a.m. Eastern Time.

Participants can access the call details by registering through a provided link. The earnings release will be available in the Investor Relations section of the company's website at www.drhc.com. For those unable to attend the live call, a replay will be accessible two hours after completion for a time via a webcast URL.

DiamondRock Hospitality Company (NYSE: DRH) has announced dividend declarations for the third quarter of 2024. The company's Board of Directors has declared a quarterly cash dividend of $0.03 per common share, payable on October 11, 2024, to shareholders of record as of September 30, 2024. Additionally, a quarterly dividend of $0.515625 per share has been declared on the company's 8.250% Series A Cumulative Redeemable Preferred Stock, payable on September 30, 2024, to shareholders of record as of September 20, 2024.