diamondrock hospitality

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diamondrock hospitality

DiamondRock Hospitality Completes Phase One of a Multi-Million Renovation at the Westin Fort Lauderdale Beach Resort

the Westin Fort Lauderdale Beach Resort | October 3, 2018

FORT LAUDERDALE – October 3, 2018 – As Fort Lauderdale Beach emerges as a premier destination for business and leisure travel, one of the market's largest resorts is completing a top-to-bottom renovation. DiamondRock Hospitality Company has completed the first phase of the multi-million-dollar project at the Westin Fort Lauderdale Beach Resort, which included transforming the property's 432 guest rooms and suites, updating common areas, and adding an award-winning restaurant: Lona Cocina Tequileria. DiamondRock's investment in the Westin Fort Lauderdale Beach Resort coincides with the region's growth as a global tourism hub....

Viceroy Hotel Group Rebranding San Francisco’s Former Hotel Rex to Hotel Emblem

Viceroy Hotel Group | September 19, 2018

SAN FRANCISCO (September 19, 2018) – Viceroy Hotel Group is enticing travelers to leave the status quo with the announcement of its new San Francisco boutique hotel, Hotel Emblem. The 96-room property, formerly Hotel Rex, will re-open in early 2019 after an extensive renovation and rebrand inspired by the Beat Generation. Every corner of Hotel Emblem is being reimagined to spark conversation and empower guests to think and act boldly. Hotel Emblem is ideally located in the heart of the city, at the confluence of two storied neighborhoods, Union Square and Nob Hill. The hotel is owned by DiamondRock Hospitality Company and is newly...

DiamondRock Acquires The Landing Resort & Spa in Lake Tahoe, California for $42 Million, or $545,000 Per Key

DiamondRock Hospitality | March 2, 2018

BETHESDA, Md., March 1, 2018 -- DiamondRock Hospitality Company (the "Company") (NYSE: DRH) today announced that it has acquired The Landing Resort & Spa ("The Landing" or "Resort"), a luxury resort in Lake Tahoe, California, for $42 million, or $545,000 per key. The acquisition represents a 7% yield on 2017 Hotel Adjusted EBITDA. The Landing Resort & Spa is a premier luxury resort with one of the best locations in Lake Tahoe. The Landing was ranked as a TripAdvisor Traveler's Choice Award Top 20 Hotel in the US and Condé Nast Readers' Choice Award #1 resort in Northern California in ...

DiamondRock Acquires the Kimpton Hotel Palomar in Phoenix, AZ for $80 Million, or $331,000 Per Key

DiamondRock Hospitality | March 2, 2018

BETHESDA, Md., March 1, 2018 -- DiamondRock Hospitality Company (the "Company") (NYSE: DRH) today announced that it has acquired the Kimpton Hotel Palomar ("Hotel Palomar" or the "Hotel"), a lifestyle boutique hotel in the heart of downtown Phoenix, Arizona. The purchase price is $80 million, or $331,000 per key, which represents a 12.6x multiple of the forward 12 months of hotel EBITDA. The Hotel Palomar is ranked #2 of 174 Phoenix hotels on TripAdvisor. Opened in 2012, the Hotel Palomar is situated in the heart of the CityScape mixed-use project, a 1.2 million square foot urban development that is capital...

DiamondRock Hospitality Reports Q1 2017 Net Income of $8.9 Million, Comparable RevPAR was $161.89, a 1.9% Increase

DiamondRock Hospitality Company | May 5, 2017

BETHESDA, Md., May 5, 2017-- DiamondRock Hospitality Company (the "Company") (NYSE: DRH), a lodging-focused real estate investment trust that owns a portfolio of 28 premium hotels in the United States, today announced results of operations for the quarter ended March 31, 2017. First Quarter 2017 Highlights Net Income: Net income was $8.9 million and earnings per diluted share was $0.04. Comparable RevPAR: RevPAR was $161.89, a 1.9% increase from the comparable period of 2016. Renovation disruption negatively impacted the Company's RevPAR growth by approximately 210 basis points. Comparable Hotel Adjusted EBITDA Margin:...

DiamondRock Hospitality Reports 2016 Q4 & Full Year Results; Q4 Net Income was $23.9 million, Down $1.8 Million from the Year Ago Quarter

DiamondRock Hospitality | February 22, 2017

BETHESDA, Md., Feb. 22, 2017 -- DiamondRock Hospitality Company (the "Company") (NYSE: DRH), a lodging-focused real estate investment trust that owns a portfolio of 26 premium hotels in the United States, today announced results of operations for the quarter and year ended December 31, 2016. 2016 Operating Highlights Net Income: Net income was $114.8 million and earnings per diluted share was $0.57. Comparable RevPAR: RevPAR was $179.69, a 0.2% decrease from 2015. Comparable Hotel Adjusted EBITDA Margin: Hotel Adjusted EBITDA margin was 31.81%, an increase of 15 basis points from 2015. Adjusted EBITDA: Adjusted EBITDA was...

DiamondRock Names Thomas Healy Chief Operating Officer and Executive Vice President of Asset Management

DiamondRock Hospitality Company | January 5, 2017

BETHESDA, Md., Jan. 5, 2017 -- DiamondRock Hospitality Company (the "Company") (NYSE: DRH) announced today that Thomas Healy, former Co-Head of Asset Management at Strategic Hotels and Resorts, will join the Company as Chief Operating Officer and Executive Vice President of Asset Management, effective January 16, 2017. In this role, Mr. Healy will report directly to Mark Brugger, DiamondRock's President and Chief Executive Officer, and will lead the Company's asset management efforts. "We could not be more excited to welcome Tom to the DiamondRock team," said Mr. Brugger. "Tom has over 25 years of hotel ...

DiamondRock Hospitality Reports Q3 2016 Net Income of $29.9 million, Up from $24.5 million in Q3 2015

DiamondRock Hospitality | November 9, 2016

BETHESDA, Md., Nov. 9, 2016 -- DiamondRock Hospitality Company (the "Company") (NYSE: DRH), a lodging-focused real estate investment trust that owns a portfolio of 26 premium hotels in the United States, today announced results of operations for the quarter ended September 30, 2016. Third Quarter 2016 Highlights Net Income: Net income was $29.9 million and earnings per diluted share was $0.15. Comparable RevPAR: RevPAR was $187.91, a 0.8% increase from the comparable period of 2015. Comparable Hotel Adjusted EBITDA Margin: Hotel Adjusted EBITDA margin was 32.12%, an increase of 23 basis points from the comparable period of...


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