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.
DiamondRock Hospitality Company (NYSE: DRH) announced the appointment of Justin Leonard as Executive Vice President and Chief Operating Officer, effective July 18, 2022. Leonard brings 20 years of experience from Walton Street Capital, where he managed assets of 60 hotels totaling over 20,000 rooms. His expertise is expected to enhance the company's asset management and operational strategies. CEO Mark W. Brugger expressed confidence in Leonard’s ability to drive value and elevate the company’s performance in the lodging sector.
DiamondRock Hospitality Company (NYSE: DRH) will release its second-quarter 2022 financial results on August 3, 2022, after market close. A conference call for investors is set for August 4, 2022, at 9:00 a.m. ET. The earnings release will be accessible in the Investor Relations section of the Company's website. DiamondRock operates hotels in prime leisure and gateway markets, owning 34 hotels with over 9,500 rooms.
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 set to be paid on June 30, 2022, to shareholders of record as of June 17, 2022. The company operates a diverse portfolio of 34 hotels, totaling over 9,500 rooms, focused on leisure destinations and key markets, enhancing its market presence as a significant real estate investment trust (REIT).
DiamondRock Hospitality Company (NYSE: DRH) has announced the acquisition of the Kimpton Fort Lauderdale Beach Resort for $35.3 million. This boutique resort features 96 rooms and a dedicated beachfront area. The purchase, completed on April 1, 2022, is expected to generate synergies through management by HEI Hotels & Resorts, which oversees a nearby property. The company anticipates a rapid ramp-up of the resort’s performance, aiming for a stabilized yield exceeding 8%. This acquisition brings DiamondRock's portfolio to 14 resorts.
DiamondRock Hospitality Company (NYSE: DRH) announced robust first-quarter results for 2022, featuring a net income of $10.1 million and a 128.1% increase in comparable revenues to $197.3 million. Comparable Hotel Adjusted EBITDA surpassed pre-pandemic levels at $51.1 million, up from $2.2 million in 2021. The company acquired Kimpton Fort Lauderdale Beach Resort for $35.3 million and expects full-year revenues to meet or exceed 2019 figures. A quarterly common dividend is projected to resume in Q3 2022.
DiamondRock Hospitality Company (NYSE: DRH) will announce its Q1 2022 financial results on May 5, 2022, after market close. A conference call for investors is scheduled for May 6, 2022, at 8:00 a.m. ET. Participants can join the call via telephone at 844-287-6622 or online. A rebroadcast will be available shortly after the call until May 13, 2022, accessible through the same phone numbers and the company's website. As of March 31, 2022, DiamondRock owns 33 hotels and resorts with over 9,400 rooms.
DiamondRock Hospitality Company (NYSE: DRH) announced the resignation of Thomas G. Healy, Executive VP and COO, effective April 15, 2022, to pursue new opportunities. His responsibilities will be assumed by Mark W. Brugger, President and CEO, ensuring a smooth transition in asset management and redevelopment. Healy's contributions were acknowledged as pivotal in enhancing the company's asset management team. The company remains optimistic about its position to leverage the hotel industry's recovery.
DiamondRock Hospitality Company (NYSE: DRH) has launched Hotel Clio, its third Luxury Collection hotel, situated in Denver Cherry Creek. This positions DiamondRock as the largest owner of Luxury Collection hotels in North America. The hotel, acquired in 2011 for $74 million, underwent a $3.6 million redesign, aiming for a 70% internal rate of return. With 199 luxury rooms, it targets a 10.5% yield on total investment. Hotel Clio emphasizes local heritage in its design, enhancing DiamondRock's portfolio of urban lifestyle hotels.
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 will be paid on March 31, 2022, to shareholders of record by March 18, 2022. The Company operates a portfolio of 33 hotels with over 9,400 rooms in top leisure destinations and gateway markets.
DiamondRock Hospitality Company (NYSE: DRH) reported a fourth quarter net loss of $2.9 million, with total revenues of $196.8 million, down 13.3% from 2019. The company's Comparable RevPAR was $158.53, reflecting a 12.5% decline from 2019, despite a 7.6% increase in Comparable ADR. For the full year, net loss totaled $195.4 million, and total revenues declined 33.5% from 2019. However, the company completed significant acquisitions, including Henderson Beach Resort, totaling $500 million, expected to add $20 million in Hotel Adjusted EBITDA in 2022.