Welcome to our dedicated page for Diamondrock Hospitality Co news (Ticker: DRH), a resource for investors and traders seeking the latest updates and insights on Diamondrock Hospitality Co stock.
DiamondRock Hospitality Company (DRH) is a self-advised lodging REIT whose news flow centers on the performance and capital management of its U.S. hotel and resort portfolio. Company press releases highlight quarterly earnings results, guidance updates, capital expenditure plans and changes to its capital structure.
Investors following DRH news will see regular updates on metrics such as RevPAR, total RevPAR, hotel adjusted EBITDA and adjusted funds from operations, along with commentary on demand trends across leisure and business travel segments. Earnings releases also describe comparable versus actual operating results, giving context on how the portfolio is performing over time.
DiamondRock’s news also covers balance sheet and financing actions. Recent announcements include the completion of a refinancing and upsizing of its senior unsecured credit facility, the repayment of property-specific mortgage loans and the resulting shift to a fully unsecured, unencumbered hotel portfolio after those repayments. The company has also reported on its share repurchase activity under an authorized program and on decisions to redeem its 8.250% Series A Cumulative Redeemable Preferred Stock.
Dividend declarations are another recurring topic, with releases detailing quarterly cash dividends on common stock, stub dividends and preferred stock dividends. In addition, DiamondRock issues notices about the timing of earnings releases and conference calls, and about its transfer of common stock listing from the New York Stock Exchange to the Nasdaq Global Select Market.
For readers interested in DRH, this news page aggregates these updates in one place, making it easier to review the company’s operating trends, capital allocation decisions and corporate actions over time.
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
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.
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.