Welcome to our dedicated page for Diamondrock Hospitality news (Ticker: DRH), a resource for investors and traders seeking the latest updates and insights on Diamondrock Hospitality stock.
DiamondRock Hospitality Company reports developments for a self-advised lodging REIT that owns premium hotels and resorts in the United States. Company news centers on hotel operating results, RevPAR and Total RevPAR trends, Adjusted EBITDA, Adjusted FFO, portfolio transactions, franchise arrangements, and capital allocation across properties concentrated in leisure destinations and gateway markets.
Recurring updates also cover distributions and tax treatment for common and Series A preferred stock, investor presentations, responsible-business recognition, annual meeting matters, and board governance. The company positions its portfolio across global hotel brand families and independent boutique hotels in the lifestyle segment.
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DiamondRock Hospitality Company (NYSE: DRH) will announce its Q1 2023 financial results on May 4, 2023, after market close. An investor conference call is scheduled for May 5, 2023, at 9:00 AM ET. Registration for the call is available online, enabling participation via telephone and the internet. The Company, a self-advised real estate investment trust, operates a portfolio of 35 hotels with over 9,600 rooms, focusing on leisure destinations and gateway markets. Additional information can be found on the Company's website.
DiamondRock Hospitality Company (NYSE: DRH) announced a quarterly cash dividend of $0.03 per common share, payable on April 12, 2023, to shareholders recorded as of March 31, 2023. Additionally, it declared a dividend of $0.515625 per share for its Series A Cumulative Redeemable Preferred Stock, due on March 31, 2023, to those recorded as of March 17, 2023. The company owns 35 hotels with around 9,600 rooms, focusing on leisure destinations and gateway markets.
DiamondRock Hospitality Company (NYSE: DRH) reported strong operational results for 2022, with a net income of $109.7 million and earnings per diluted share of $0.47, reflecting a 54.8% revenue increase over 2021. The fourth quarter saw net income rise to $18.4 million, with revenues at $256.9 million, up 22.6% from 2021. Comparable RevPAR reached $198.37, a 50.6% increase year-over-year. The company acquired Lake Austin Spa Resort for $75.8 million and repurchased 1.6 million shares at an average price of $7.81. The firm ended 2022 with $589.5 million in liquidity and reinstated a quarterly dividend of $0.09. Looking ahead, the company anticipates robust demand in the hotel industry.
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.