Diamondrock Hospitality Co Stock Price, News & Analysis

On January 24, 2023, DiamondRock Hospitality Company (NYSE: DRH) detailed the tax treatment for its 2022 distributions to shareholders of common and Series A preferred stock. Key dates include:

• Record Date (Common): 9/30/2022, Payable Date: 10/12/2022, Total Distribution: $0.03/share
• Record Date (Common): 12/30/2022, Payable Date: 1/12/2023, Total Distribution: $0.06/share
• Series A Preferred: Multiple distributions totaling $0.515625/share were noted for various record dates.

Shareholders are advised to consult tax advisors regarding their individual tax implications.

DiamondRock Hospitality Company (NYSE: DRH) reported strong preliminary revenue results for November and December 2022. November revenues increased by 27.3% compared to 2021 and 7.1% compared to 2019. December saw a growth of 10.5% and 10.7% compared to the same periods. For the fourth quarter, revenues rose 23.4% from 2021 and 8.5% from 2019. Full-year 2022 revenues exceeded $1 billion, marking a significant milestone for the company, which operates a portfolio of 35 hotels.

DiamondRock Hospitality Company (NYSE: DRH) will report its fourth quarter 2022 financial results on February 21, 2023, before the market opens. A conference call for investors is scheduled for the same day at 10:00 a.m. ET to discuss the earnings release. The call can be accessed via telephone and internet, with registration required. DiamondRock Hospitality owns 35 hotels with over 9,600 rooms, strategically positioned in key market segments.

On December 7, 2022, DiamondRock Hospitality Company (NYSE: DRH) declared a quarterly cash dividend of $0.06 per common share, which includes a $0.03 recurring dividend and a $0.03 special dividend. This dividend is payable on January 12, 2023, to shareholders of record as of December 30, 2022.

Additionally, a $0.515625 dividend was announced for Series A Cumulative Redeemable Preferred Stock, payable on December 30, 2022, to those on record by December 19, 2022.

DiamondRock Hospitality Company (NYSE: DRH) reported a record third quarter in 2022, achieving a net income of $28.6 million and earnings per diluted share of $0.12. Total revenues increased by 34.2% year-over-year to $266.9 million, with a comparable RevPAR of $211.40, reflecting a 29.3% rise over 2021. The company successfully completed a $1.2 billion refinancing of its credit facility, enhancing its liquidity to $843.4 million. Additionally, $200 million was allocated for a share repurchase program, with $12.3 million already utilized. The company declared a quarterly dividend of $0.03 per share on October 12, 2022.

DiamondRock Hospitality Company (NYSE: DRH) reported strong operational results for September 2022. RevPAR increased by 43.5% year-over-year and 9.8% compared to September 2019. Total revenues for September reached $93.4 million, marking a 12.5% increase from 2019. For Q3 2022, RevPAR grew 8.7% and total revenues rose 11.7% compared to 2019. The recent $1.2 billion bank facility enhances the company's balance sheet, positioning them as a leader in the lodging sector.

DiamondRock Hospitality Company (NYSE: DRH) announced the successful refinancing of its primary unsecured credit facility, increasing it from $750 million to $1.2 billion. This includes a $400 million revolving credit facility, a $300 million term loan maturing in January 2026, and a $500 million term loan maturing in January 2028. The refinancing enhances balance sheet strength, providing liquidity over $600 million without near-term debt maturities. The proceeds will be used to repay existing loans, securing financial flexibility for future investments.

DiamondRock Hospitality Company (NYSE: DRH) announced a quarterly dividend of $0.515625 per share on its 8.250% Series A Cumulative Redeemable Preferred Stock, payable on September 30, 2022. The record date for shareholders is September 16, 2022. Additionally, a cash dividend of $0.03 per common share has been declared, payable on October 12, 2022, with a record date of September 30, 2022. The company operates 34 hotels with over 9,500 rooms, focusing on leisure destinations and key markets.

DiamondRock Hospitality Company (NYSE: DRH) will announce its third-quarter 2022 financial results on November 3, 2022, after market close. A conference call for investors is scheduled for November 4, 2022, at 9:00 a.m. ET. Investors can access the call via a registered link and through the company’s website. DiamondRock owns 34 hotels with over 9,500 rooms, focusing on leisure destinations and top gateway markets. For more details, visit www.drhc.com.