DiamondRock Hospitality Company Appoints Michael A. Hartmeier to Board of Directors

Rhea-AI Summary

DiamondRock Hospitality Company (NYSE: DRH) announced the appointment of Michael A. Hartmeier to its Board of Directors, effective October 1, 2020. Hartmeier brings over 25 years of investment banking experience, having completed more than $125 billion in financing and advisory assignments.

Previously, he led Lodging, Gaming and Leisure Investment Banking at Barclays and held senior roles at Lehman Brothers and Credit Suisse. His expertise is expected to enhance shareholder value as the Company seeks to optimize its operations and financial performance.

Positive

• Appointment of Michael A. Hartmeier to the Board of Directors expected to enhance shareholder value.
• Hartmeier's extensive background in capital markets and M&A could provide valuable insights.

Negative

• None.

BETHESDA, Md., Aug. 31, 2020 /PRNewswire/ -- DiamondRock Hospitality Company (the "Company") (NYSE: DRH) announced today that it has appointed Michael A. Hartmeier to the Board of Directors effective October 1, 2020.

"Mike has been a trusted advisor to the Company for many years.  His extensive capital markets and M&A experience will be a valuable resource as we seek to maximize shareholder value," stated Mark W. Brugger, President and Chief Executive Officer of the Company.

Mr. Hartmeier is the former Group Head of Lodging, Gaming and Leisure Investment Banking at Barclays.  His prior roles include group head positions in hospitality and gaming for Lehman Brothers and Credit Suisse First Boston.  Mr. Hartmeier has completed over $125 billion in financing and advisory assignments during his 25 years as an investment banker.  Mr. Hartmeier received his Masters of Business Administration from Harvard Business School and a B.A. in Economics-Business from the University of California Los Angeles ("UCLA").  While at UCLA, he was awarded the Pacific-10 Conference Medal.  He is a Certified Public Accountant (non-practicing) and began his career as an auditor at Price Waterhouse.

About the Company

DiamondRock Hospitality Company is a self-advised real estate investment trust (REIT) that is an owner of a leading portfolio of geographically diversified hotels concentrated in destination resort locations and top gateway markets.  The Company owns 31 premium quality hotels with over 10,000 rooms. The Company has strategically positioned its hotels to be operated both leading global brands as well as unique boutique hotels in the lifestyle segment.  For further information on the Company and its portfolio, please visit DiamondRock Hospitality Company's website at www.drhc.com.

View original content:http://www.prnewswire.com/news-releases/diamondrock-hospitality-company-appoints-michael-a-hartmeier-to-board-of-directors-301120733.html

SOURCE DiamondRock Hospitality Company

FAQ

Who is Michael A. Hartmeier and what is his role at DiamondRock Hospitality Company?

Michael A. Hartmeier has been appointed to the Board of Directors of DiamondRock Hospitality Company, effective October 1, 2020, bringing extensive experience in investment banking.

What experience does Michael A. Hartmeier bring to the Board?

He has over 25 years of experience, having completed more than $125 billion in financing and advisory assignments, previously leading investment banking for lodging and gaming at Barclays.

When did Michael A. Hartmeier join the Board of Directors?

Michael A. Hartmeier officially joined the Board of Directors on October 1, 2020.

How might Hartmeier's appointment affect DiamondRock Hospitality Company's stock performance?

His capital markets and M&A expertise is expected to help maximize shareholder value, potentially positively impacting the stock performance.