Diamondrock Hospitality Co Stock Price, News & Analysis

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.

DiamondRock Hospitality Company (NYSE: DRH) has declared a dividend of $0.515625 per share on its 8.250% Series A Cumulative Redeemable Preferred Stock. This dividend is set to be paid on September 30, 2021, to shareholders of record as of September 17, 2021. The company specializes in owning a diverse portfolio of hotels, currently holding 31 premium properties with over 9,100 rooms, strategically placed in key gateway markets and resorts.

DiamondRock Hospitality Company (NYSE: DRH) reported significant operational recovery in Q2 2021. Despite a net loss of $19.1 million (loss per diluted share: $0.10), comparable total revenues surged 514.8% year-over-year, reaching $124.8 million. Comparable RevPAR soared 563.1% to $107.56, while adjusted EBITDA climbed to $19.8 million. The company ended the quarter with $638.9 million in liquidity. Recent acquisitions, including the Bourbon Orleans Hotel and Henderson Park Inn, enhance its leisure-focused portfolio, now 34% resort-oriented.

DiamondRock Hospitality Company (NYSE: DRH) has completed a $10 million transformation of The Lodge at Sonoma, which became part of Marriott's Autograph Collection on July 1, 2021. CEO Mark Brugger highlighted the expected return on investment exceeding 25%, leveraging a low undepreciated investment basis of approximately $380,000 per key. The resort now features redesigned guest rooms, improved amenities, and onsite dining by renowned chef Michael Mina. Future projects include the repositioning of additional properties in Vail, Colorado, and Cherry Creek, Denver, enhancing DiamondRock's portfolio of boutique hotels.

DiamondRock Hospitality Company (NYSE: DRH) announced the successful sale of the 725-room Lexington Hotel in New York City for $185.3 million on June 30, 2021. This transaction yields a 14.2x multiple on 2019 Hotel EBITDA and a 5.4% capitalization rate on 2019 Hotel net operating income. The company plans to use the proceeds to acquire high-growth experiential resort and urban lifestyle hotels, aligning with its investment strategy. CEO Mark W. Brugger noted this move enhances the portfolio's alignment with market opportunities.

DiamondRock Hospitality Company (NYSE: DRH) plans to report its second quarter 2021 financial results on August 5, 2021, post-market. A conference call for investors will follow on August 6, 2021, at 8:00 a.m. ET. The earnings release will be available on the Company's website prior to the call. Interested individuals can participate via telephone or webcast. A rebroadcast will be accessible starting two hours after the live event until August 27, 2021. DiamondRock owns a diverse portfolio of 29 hotels totaling over 8,800 rooms.

DiamondRock Hospitality Company (NYSE: DRH) announced a dividend of $0.515625 per share for its 8.250% Series A Cumulative Redeemable Preferred Stock. This dividend will be payable on June 30, 2021, to shareholders recorded as of June 18, 2021. The company, a self-advised REIT, owns a diverse portfolio of 30 premium hotels, totaling over 9,600 rooms, positioned within key gateway and resort locations.

DiamondRock Hospitality Company (NYSE: DRH) announced that Margaritaville Beach House Key West will open in fall 2021 following a $3 million investment. The resort, located on Key West's largest beach, underwent an $18 million renovation, boasting enhanced amenities including food and beverage options, family-friendly activities, and a tropical pool. The partnership with Margaritaville is expected to boost demand, benefiting the resort's financial performance, with a potential competitive advantage in the market. Ocean Properties Hotels & Resorts will continue to operate the resort.

DiamondRock Hospitality Company (DRH) reported a net loss of $171.6 million for Q1 2021, translating to a loss per diluted share of $0.82. This reflects a 57.1% decrease in comparable total revenues from Q1 2020. RevPAR also saw a significant drop, down 54.4% year-over-year. However, the company achieved a 35.6% increase in Adjusted EBITDA from Q4 2020. Liquidity stands at $436.9 million, with plans to improve operations and sell The Lexington Hotel for $185 million. The company expects a rebound in lodging demand as vaccinations increase.