diamondrock hospitality company
Banyan Investment Group Completes Sale of 96-Room Kimpton Goodland Hotel Ft. Lauderdale Beach
Kimpton Goodland Hotel | May 10, 2022
FT. LAUDERDALE, Fla., May 10, 2022—Banyan Investment Group (BIG), an Inc. 5000-recognized, hotel investment company that acquires hotels in the United States, today announced the sale of the 96-room Kimpton Goodland Hotel Fort Lauderdale Beach in Fla., to DiamondRock Hospitality Company for $35.3 million. “Following an extensive market study that led us to believe South Florida travel would rebound quickly, we took a calculated risk and purchased this property in Q420, prior to vaccines being released when travel volumes remained low,” said Andy Chopra, managing partner, Banyan Investment Group. “Our research proved prescient,...
Embassy Suites by Hilton Bethesda Opens in Maryland
DiamondRock Hospitality Company | April 5, 2022
BETHESDA, MD - April 5, 2022 - Hilton today announced the opening of one of its newest hotels, Embassy Suites by Hilton Bethesda, located minutes from the National Institute of Health, Music Center at Strathmore, and the region’s premier destination for shopping and dining, Pike & Rose. The hotel is owned by DiamondRock Hospitality Company, managed by Sage Hotel Management, and features 272 Suites, many of which are highlighted by outdoor terraces. "I am excited for the opportunity to reshape the hospitality venture in Bethesda,” said Melanie Hofer, general manager, Embassy Suites by Hilton Bethesda. “It is a tremendo...
Diamondrock Hospitality Announces Resignation of Chief Operating Officer Thomas Healy
DiamondRock Hospitality Company | March 30, 2022
BETHESDA, MD - March 30, 2022 - DiamondRock Hospitality Company (the "Company") today announced that Executive Vice President and Chief Operating Officer Thomas G. Healy is resigning from his position, effective April 15, 2022, to pursue new opportunities. Mr. Healy's responsibilities for overseeing asset management and redevelopment projects will be transitioned to Mark W. Brugger, President and Chief Executive Officer of the Company. "Tom has been instrumental in working with me to create the leading asset management team in the industry. On behalf of the entire DiamondRock team, I thank Tom for his significant contribut...
DiamondRock Debuts Margaritaville Beach House Key West
DiamondRock Hospitality Company | November 16, 2021
BETHESDA, MD – November 16, 2021 – DiamondRock Hospitality Company announced the grand opening of its Margaritaville Beach House Key West following a $3.5 million investment to bring the full Margaritaville experience to life along Key West's largest beach. The rebranded and upgraded resort features Tin Cup Chalice Bar & Chill, a spirited poolside restaurant and bar concept, an expansive retail outlet and popular family-friendly amenities. The oceanfront resort offers 186 spacious suites, a lagoon-style pool, and lounging hammocks throughout the grounds. Exclusive amenities include poolside entertainment, daily refreshments, a ...
DiamondRock Debuts The Hythe, A Luxury Collection Resort, Vail Colorado
DiamondRock Hospitality Company | November 11, 2021
BETHESDA, MD – November 11, 2021 – DiamondRock Hospitality Company announced the debut of The Hythe, a Luxury Collection Resort, Vail. The resort is Marriott International's only Luxury Collection alpine resort in North America. The design was led by the award-winning firm of Wilson Ishihara. "The Hythe is now among the most luxurious resorts in Vail and is positioned to continue delivering robust returns on our investment," said Mark W. Brugger, President and Chief Executive Officer of DiamondRock Hospitality Company. "DiamondRock was the first lodging REIT to invest in Colorado's Vail Valley when it acquired the ...
DiamondRock Acquires Two Hotels Combined Price of $108.6 Million
DiamondRock Hospitality | August 5, 2021
BETHESDA, Md. - August 5, 2021 - DiamondRock Hospitality Company today announced that it has acquired the Bourbon Orleans Hotel ("Bourbon Orleans" or the "Hotel"), a lifestyle boutique hotel on the famed Bourbon Street in the French Quarter of New Orleans, Louisiana, and Henderson Park Inn (the "Resort"), a beachfront resort situated on the Emerald Coast in Destin, Florida. The combined purchase price for the two hotels is $108.6 million. Inclusive of transaction costs, the total investment is $117.4 million. The total investment in the 220-room Bourbon Orleans Hotel represents a 7% capitalization rate on 2019 net operating income ...
DiamondRock Hospitality Company Completes Disposition of 725-Room Lexington Hotel in New York City
DiamondRock Hospitality Company | July 6, 2021
BETHESDA, Md., July 6, 2021 -- DiamondRock Hospitality Company (the "Company") (NYSE: DRH) announced today that it completed the disposition of the 725-room Lexington Hotel in New York City on June 30, 2021 for $185.3 million. Including the Company's projected capital expenditures, the sale price represents a 14.2x multiple on 2019 Hotel EBITDA and a 5.4% capitalization rate on 2019 Hotel net operating income. The Company intends to redeploy the net proceeds from the sale to acquire high-growth experiential resort and urban lifestyle hotels aligned with its investment strategy. "We are pleased to announce the closing of this trans...
DiamondRock Hospitality Company Brings Margaritaville Beach House to Key West, Florida
DiamondRock Hospitality Company | May 14, 2021
BETHESDA, Md. - May 14, 2021 - DiamondRock Hospitality Company and Margaritaville Holdings announced Margaritaville Beach House Key West will open in the fall of 2021. Located on the largest beach in Key West, Margaritaville Beach House Key West will welcome guests in the fall of 2021 after a $3 million investment to bring the Margaritaville state of mind to life throughout the recently renovated resort. Enhancements will include amenities and design aesthetics to drive incremental revenue and a fun, relaxing guest experience. The resort will feature signature Margaritaville food and beverage concepts, an expanded retail outlet, and f...
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