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DiamondRock Hospitality Co (DRH), a leading lodging-focused REIT, provides investors and stakeholders with timely updates through this centralized news hub. Track the company’s latest press releases, earnings reports, and strategic developments in the hospitality sector.
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DiamondRock Hospitality Company (NYSE: DRH) reported its second-quarter 2024 results with net income of $24.6 million and EPS of $0.10. Comparable total revenues increased 4.8% year-over-year to $309.3 million. Comparable RevPAR rose by 2.2% to $229.21, while adjusted EBITDA increased 7.8% to $92.5 million. The company raised its full-year guidance with expected Adjusted EBITDA between $278 million and $290 million and Adjusted FFO per share between $0.95 and $1.00. Share repurchases totaled 2.5 million shares at an average price of $8.39, amounting to $20.6 million. The Hilton Burlington Lake Champlain was rebranded as the Hotel Champlain Burlington. The company has $629.5 million in liquidity and declared a quarterly dividend of $0.03 per common share.
On June 3, 2024, DiamondRock Hospitality (NYSE: DRH) announced that its Board of Directors has declared a quarterly cash dividend of $0.03 per common share, payable on July 12, 2024, to shareholders of record as of June 28, 2024.
The Board also declared a quarterly dividend of $0.515625 per share on its 8.250% Series A Cumulative Redeemable Preferred Stock, payable on June 28, 2024, to shareholders of record as of June 18, 2024.
DiamondRock Hospitality (NYSE: DRH) will release its second-quarter 2024 financial results on Thursday, August 1, 2024, after market close.
A conference call to discuss the results is scheduled for the following day, Friday, August 2, 2024, at 9:00 a.m. ET.
The call will be accessible via telephone and the internet, with registration details available on the company's Investor Relations website.
A replay of the call will be available two hours after the live event for a time.
DiamondRock Hospitality Company (NYSE: DRH) has promoted Stephen Spierto to Chief Accounting Officer, effective May 15, 2024. Spierto, who joined in November 2023, previously served as Vice President, Corporate Controller. He has a background in real estate and hospitality auditing from Ernst & Young. The company also announced Anika Fischer as Senior Vice President and General Counsel, effective June 3, 2024. Fischer was previously Deputy General Counsel at Essex Property Trust, with expertise in capital markets and real estate transactions. CEO Jeffrey J. Donnelly praised both appointments for their strategic and legal expertise.
DiamondRock Hospitality Company reported first quarter 2024 results, with comparable total revenues 3.8% above 2023, net income of $8.4 million, and earnings per diluted share of $0.03. The company raised the midpoint of its full-year guidance. Recent developments include leadership changes to drive business momentum.
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