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) plans to report its second quarter 2021 financial results on August 5, 2021, post-market. A conference call for investors will follow on August 6, 2021, at 8:00 a.m. ET. The earnings release will be available on the Company's website prior to the call. Interested individuals can participate via telephone or webcast. A rebroadcast will be accessible starting two hours after the live event until August 27, 2021. DiamondRock owns a diverse portfolio of 29 hotels totaling over 8,800 rooms.
DiamondRock Hospitality Company (NYSE: DRH) announced a dividend of $0.515625 per share for its 8.250% Series A Cumulative Redeemable Preferred Stock. This dividend will be payable on June 30, 2021, to shareholders recorded as of June 18, 2021. The company, a self-advised REIT, owns a diverse portfolio of 30 premium hotels, totaling over 9,600 rooms, positioned within key gateway and resort locations.
DiamondRock Hospitality Company (NYSE: DRH) announced that Margaritaville Beach House Key West will open in fall 2021 following a $3 million investment. The resort, located on Key West's largest beach, underwent an $18 million renovation, boasting enhanced amenities including food and beverage options, family-friendly activities, and a tropical pool. The partnership with Margaritaville is expected to boost demand, benefiting the resort's financial performance, with a potential competitive advantage in the market. Ocean Properties Hotels & Resorts will continue to operate the resort.
DiamondRock Hospitality Company (DRH) reported a net loss of $171.6 million for Q1 2021, translating to a loss per diluted share of $0.82. This reflects a 57.1% decrease in comparable total revenues from Q1 2020. RevPAR also saw a significant drop, down 54.4% year-over-year. However, the company achieved a 35.6% increase in Adjusted EBITDA from Q4 2020. Liquidity stands at $436.9 million, with plans to improve operations and sell The Lexington Hotel for $185 million. The company expects a rebound in lodging demand as vaccinations increase.
DiamondRock Hospitality Company (NYSE: DRH) has elected Tabassum Zalotrawala to its Board of Directors effective May 5, 2021. This change comes as Gilbert Ray and Maureen McAvey did not seek reelection. The appointment aligns with the company’s initiative for board refreshment to enhance shareholder value. Zalotrawala, previously Chief Development Officer at Chipotle, brings extensive expertise in real estate and construction. She has been recognized for leading innovative projects that drive financial performance.
DiamondRock Hospitality Company (NYSE: DRH) will disclose its financial results for Q1 2021 on May 6, 2021, after market close. A conference call will follow on May 7, 2021, at 9:00 a.m. ET. Interested parties can access the call via phone at 844-287-6622 or internationally at 530-379-4559, using conference ID 3978794. A replay will be available until May 28, 2021. The company, owning 31 hotels with over 10,000 rooms, operates mainly under renowned brands like Hilton and Marriott.
DiamondRock Hospitality Company (NYSE: DRH) has declared 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 March 31, 2021 to shareholders of record as of March 18, 2021. DiamondRock operates a portfolio of 31 hotels with more than 10,000 rooms, concentrating on top gateway markets and destination resorts. The company focuses on both global brand and boutique hotel operations.
DiamondRock Hospitality Company (NYSE: DRH) announced significant financial losses for Q4 and the full year 2020, impacted heavily by the COVID-19 pandemic. The company reported a net loss of $208.3 million in Q4, with a 75.2% drop in total revenues compared to 2019. Adjusted EBITDA was ($14.9) million, declining by $77.6 million versus the previous year. Liquidity improved to $481.7 million. The company has resumed operations at some hotels but suspended others due to ongoing travel demand challenges. Future capital expenditure is estimated at $50 million for essential projects in 2021.
DiamondRock Hospitality Company (NYSE: DRH) announced amendments to its credit agreements, extending the waiver period for financial covenant testing from March 31, 2021, to December 31, 2021. The amendments allow retention of equity issuance proceeds for acquiring unencumbered properties and provide flexibility for capital recycling. CEO Mark W. Brugger highlighted the support from lending partners during challenging times, ensuring compliance with loan requirements. The company's portfolio consists of 31 premium hotels strategically located across the U.S.
DiamondRock Hospitality Company (NYSE: DRH) announced the tax treatment for its 2020 dividend distributions. For common stock, the record date was January 2, 2020, with a payable date of January 13, 2020, totaling $0.125 per share. Series A preferred stock had a record date of September 20, 2020, and a payable date of September 30, 2020, totaling $0.1776 per share, followed by another distribution of $0.515625 on shares recorded on December 19, 2020, payable December 31, 2020. Total distributions for preferred stock summed to $0.693225.