Diamondrock Hospitality Co Stock Price, News & Analysis

DiamondRock Hospitality Company (NYSE: DRH) announced the tax treatment for its 2021 dividend distributions to holders of its preferred stock. Throughout 2021, no dividends were paid to common stockholders. The total distribution for Series A Preferred Stock amounted to $2.0625 per share, with quarterly payments of $0.515625. Key dates include record dates of March 18, June 18, September 17, and December 20, and payable dates on March 31, June 30, September 30, and December 31, respectively. Shareholders are advised to consult their tax advisors for specific treatment of these distributions.

DiamondRock Hospitality Company (NYSE: DRH) will announce its fourth quarter 2021 financial results on February 17, 2022, after market close. A conference call for investors is set for February 18, 2022, at 9:00 a.m. ET. Details will be shared in the earnings release available on the company's website. For dial-in access, investors can call 844-287-6622 (international: 530-379-4559) using conference ID 6819388. A rebroadcast will be available after the call until March 11, 2022.

DiamondRock Hospitality Company (NYSE: DRH) acquired two Florida resorts, the Henderson Beach Resort in Destin and Tranquility Bay Beachfront Resort in Marathon, for a total of $175.5 million. This investment marks a strategic pivot towards leisure-oriented properties, reinforcing a portfolio shift to nearly two-thirds destination leisure hotels. The acquisitions align with DiamondRock's efforts to recycle $220 million into unencumbered, high-yield hotels, projecting increased investment yield and long-term cash flow growth, with yields of 6.4% and 11.5% for the new properties.

DiamondRock Hospitality Company (NYSE: DRH) announced a dividend of $0.515625 per share on its 8.250% Series A Cumulative Redeemable Preferred Stock. The dividend is payable on December 31, 2021, to shareholders of record as of December 20, 2021. The company, a self-advised REIT, owns 31 premium hotels with over 9,100 rooms in major markets and resort locations. This strategic positioning within the hospitality sector enhances its appeal among investors.

DiamondRock Hospitality Company (NYSE: DRH) announced the grand opening of the Margaritaville Beach House Key West after a $3.5 million investment. The upgraded resort features 186 suites, a lagoon-style pool, and family-friendly amenities. The property, acquired for $94 million in 2015, was rebranded from the Barbary Beach House Key West. The Company projects that the new investment will yield over an 80% return, generating nearly $14 million in EBITDA for 2021, significantly enhancing financial performance.

DiamondRock Hospitality Company (NYSE: DRH) has launched The Hythe, a Luxury Collection Resort in Vail, Colorado. This property, Marriott's only Luxury Collection alpine resort in North America, represents a significant investment, with an expected $8.4 million capital investment poised to yield over 80% returns. The resort is projected to generate stabilized EBITDA of over $17 million, reflecting a 6.1x EBITDA multiple. Featuring 344 luxury rooms and a premier spa, The Hythe aims to become a premier destination for both visitors and hotel guests, enhancing DiamondRock's portfolio of exceptional hospitality experiences.

DiamondRock Hospitality Company (DRH) reported a net loss of $1.8 million for Q3 2021, with revenues declining by 20.4% to $181.5 million compared to the same period in 2019. The company achieved a comparable RevPAR of $155.17, a 19.6% decrease from 2019. However, comparable Hotel Adjusted EBITDA improved to $48.3 million, reflecting a recovery from Q2 2021. The company ended the quarter with total liquidity of $537.9 million and acquired two hotels, reinforcing its strategy in leisure-oriented properties. Preliminary revenues for October 2021 show a recovery to 78.6% of 2019 levels.

DiamondRock Hospitality Company (NYSE: DRH) was recognized as a Global Listed Sector Leader by the Global Real Estate Sustainability Benchmark (GRESB) for the second consecutive year, achieving top rank in the Hotel Sector. Key highlights include:

• 1st GRESB Score among hotel peers
• 2nd Performance Score among hotel peers
• 16th Performance Score in the Americas (Top 20%)
• GRESB Green Star recipient
• 3rd in U.S. Hotel peer set with an 'A' score

DiamondRock's sustainability report offers insights into its ongoing commitment to environmental, social, and governance (ESG) initiatives.

DiamondRock Hospitality Company (NYSE: DRH) will announce its third quarter 2021 financial results on November 4, 2021, after the market closes. An investor conference call is scheduled for November 5, 2021, at 9:00 a.m. ET. Interested parties can access the call via telephone or online through the Company’s website. A rebroadcast will be available for those unable to attend live, accessible until November 26, 2021. DiamondRock owns 31 hotels with over 9,100 rooms in prime locations.