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) 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.
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.