Diamondrock ( (DRH) ) just unveiled an announcement.
DiamondRock Hospitality Company has announced several strategic moves and financial outcomes for 2024. The company sold the Westin DC City Center in February 2025 for $92 million and acquired the AC Hotel Minneapolis in November 2024 for $30 million. They also invested over $81.6 million in capital improvements, including significant renovations and conversions of several properties. The company’s financial performance exceeded original guidance for 2024, with increases in TRevPAR, Adjusted EBITDA, and AFFO per share. Looking ahead to 2025, DiamondRock anticipates growth in group revenue and urban market demand, with ongoing renovations expected to benefit future performance.
More about Diamondrock
DiamondRock Hospitality Company operates in the hospitality industry, focusing on owning and managing a diverse portfolio of hotels and resorts across various geographic markets. The company emphasizes luxury and lifestyle resorts, urban lifestyle hotels, and urban group hotels, with a significant portion of its revenue derived from leisure and urban demand recovery.
YTD Price Performance: -7.74%
Average Trading Volume: 2,081,868
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $1.72B
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