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DiamondRock Hospitality Co (DRH.N)

DRH.N on New York Stock Exchange

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30 Oct 2020
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Latest Key Developments (Source: Significant Developments)

DiamondRock Hospitality Company Reports Second Quarter 2020 Results
Friday, 7 Aug 2020 

Aug 6 (Reuters) - Diamondrock Hospitality Co ::MPANY REPORTS SECOND QUARTER 2020 RESULTS.Q2 ADJUSTED FFO LOSS PER SHARE $0.20.NOT PROVIDING UPDATED GUIDANCE AT THIS TIME.Q2 FFO PER SHARE VIEW $-0.22 -- REFINITIV IBES DATA.  Full Article

Diamondrock Hospitality Says Had Cash On Hand Of About $360 Mln As Of June 5
Monday, 8 Jun 2020 

June 8 (Reuters) - DiamondRock Hospitality Co ::DIAMONDROCK HOSPITALITY CO - AS OF JUNE 5, 2020, HAD CASH ON HAND OF ABOUT $360 MILLION.DIAMONDROCK HOSPITALITY CO - EXPLORING POSSIBLE MODIFICATIONS TO EXISTING HOTEL MANAGEMENT AND FRANCHISE AGREEMENTS.DIAMONDROCK HOSPITALITY CO - CONTINUE TO WORK WITH LENDERS TO PROVIDE FLEXIBILITY ON CERTAIN FINANCIAL COVENANTS.DIAMONDROCK HOSPITALITY CO - AGREED TO A TERM SHEET TO EXTEND MATURITY OF MORTGAGE LOAN SECURED BY THE SALT LAKE CITY MARRIOTT DOWNTOWN TO JANUARY 2022.DIAMONDROCK HOSPITALITY CO - IN DISCUSSIONS WITH CERTAIN HOTEL MANAGERS, FRANCHISORS REGARDING POTENTIALLY AMENDING OR RESTRUCTURING CERTAIN AGREEMENTS.DIAMONDROCK HOSPITALITY CO - ON JUNE 1, CONVERTED SHERATON SUITES KEY WEST TO INDEPENDENT HOTEL, BARBARY BEACH HOUSE KEY WEST.DIAMONDROCK HOSPITALITY - SINCE MARCH 31, COMMENCED PHASED REOPENINGS AT SEVEN OF HOTELS WHERE CO SUSPENDED OPERATIONS IN MARCH OR APRIL 2020.DIAMONDROCK HOSPITALITY CO - AS OF JUNE 5, HAVE NOT RECEIVED ANY OF THE REQUESTED RELIEF RELATED TO CERTAIN CONDITIONS OF LOANS ON HOTELS THROUGH CMBS.  Full Article

DiamondRock Hospitality Withdraws 2020 Guidance; Suspends Dividend
Thursday, 19 Mar 2020 

March 18 (Reuters) - DiamondRock Hospitality Co ::DIAMONDROCK HOSPITALITY COMPANY PROVIDES UPDATE AND ANNOUNCES STEPS TO MITIGATE COVID-19 IMPACT.DIAMONDROCK HOSPITALITY CO - WITHDRAWS 2020 GUIDANCE; SUSPENDS COMMON DIVIDEND.DIAMONDROCK HOSPITALITY - AS OF MARCH 14, REVENUE NEGATIVELY IMPACTED BY ABOUT $23 MILLION OF CANCELLED GROUP BUSINESS, EXCLUDING POTENTIAL CANCELLATION FEES.DIAMONDROCK HOSPITALITY CO - TO ENSURE CO HAS SIGNIFICANT FUNDS TO MEET ONGOING OBLIGATIONS, DRAWN REMAINING $360 MILLION ON $400 MILLION CREDIT FACILITY.DIAMONDROCK HOSPITALITY CO - INTENDS TO PAY A Q4 2020 DIVIDEND SUFFICIENT TO COVER 100% OF ITS TAXABLE INCOME FOR YEAR ENDING DEC. 31, 2020.DIAMONDROCK HOSPITALITY CO - SUSPENSION OF DIVIDEND COULD PRESERVE UP TO $100 MILLION OF CAPITAL.DIAMONDROCK HOSPITALITY CO - DEVELOPED ACTIONS PLANS TO SIGNIFICANTLY REDUCE COSTS AT EACH OF ITS HOTELS.DIAMONDROCK HOSPITALITY - SUSPENDED OPERATIONS AT HOTEL RESTAURANTS AND OUTLETS WHERE DEMAND IS INSUFFICIENT OR PROHIBITIONS DO NOT PERMIT GATHERINGS.DIAMONDROCK HOSPITALITY CO - "RIGHT-SIZING" HOTELS TO CURRENT DEMAND LEVELS IN ORDER TO AGGRESSIVELY REDUCE COSTS.DIAMONDROCK HOSPITALITY CO - CANCELLED OR DEFERRED VAST MAJORITY OF ITS CAPITAL EXPENDITURES.DIAMONDROCK HOSPITALITY CO - BELIEVE CO HAS ABILITY TO WITHSTAND CURRENT SLOWDOWN.DIAMONDROCK HOSPITALITY CO - NOW HAVE ABOUT $380 MILLION OF CASH ON BALANCE SHEET.  Full Article

DiamondRock Hospitality Company Reports Q4 Adjusted Ffo Per Share $0.27
Friday, 21 Feb 2020 

Feb 20 (Reuters) - DiamondRock Hospitality Co ::MPANY REPORTS FOURTH QUARTER AND FULL YEAR 2019 RESULTS.Q4 ADJUSTED FFO PER SHARE $0.27.QTRLY REVPAR WAS $190.94, A 1.5% INCREASE FROM COMPARABLE PERIOD OF 2018.DIAMONDROCK HOSPITALITY - SHOULD BENEFIT FROM STRONG GROUP PACE UP 14.1%, TAILWINDS FROM 2019 RENOVATIONS & CONTINUED STRENGTH AT OUR RESORTS IN 2020.IN 2020, EXPECTS TO SPEND APPROXIMATELY $90 MILLION TO $100 MILLION ON CAPITAL IMPROVEMENTS AT ITS OPERATING HOTELS.AS OF DECEMBER 31, 2019, CO HAD $122.5 MILLION OF UNRESTRICTED CASH ON HAND AND APPROXIMATELY $1.1 BILLION OF TOTAL DEBT.SEES 2020 ADJUSTED FFO PER SHARE $1.00 - $1.04.SEES 2020 COMPARABLE TOTAL REVPAR GROWTH OF 0.5% TO 3.0%.Q4 FFO PER SHARE VIEW $0.24 -- REFINITIV IBES DATA.FY2020 FFO PER SHARE VIEW $0.98 -- REFINITIV IBES DATA.  Full Article

Diamondrock Hospitality - Reached Settlement Of Its Outstanding Insurance Claim Related To Hurricane Irma
Friday, 20 Dec 2019 

Dec 19 (Reuters) - DiamondRock Hospitality Co ::DIAMONDROCK HOSPITALITY - REACHED DEFINITIVE SETTLEMENT OF ITS OUTSTANDING INSURANCE CLAIM RELATED TO HURRICANE IRMA.DIAMONDROCK HOSPITALITY - IN AGREEMENT, AGREED TO RESOLVE CLAIM FOR TOTAL INSURANCE PAYMENTS OF $246.75 MILLION, INCLUDING $140.12 MILLION PAID TO CO TO DATE.DIAMONDROCK HOSPITALITY - OUTSTANDING SETTLEMENT PAYMENT TO CO OF $106.63 MILLION BY INSURERS IS REQUIRED TO BE PAID WITHIN 30 DAYS.DIAMONDROCK HOSPITALITY - AS A RESULT OF SETTLEMENT, COMPANY WILL NOT RECOGNIZE ANY ADDITIONAL BUSINESS INTERRUPTION PROCEEDS RELATED TO CLAIM.DIAMONDROCK HOSPITALITY - CONTINUES TO FORECAST FRENCHMAN'S REEF AND NONI BEACH RESORTS WILL GENERATE COMBINED $25 MILLION OF EBITDA UPON STABILIZATION.  Full Article

Diamondrock Hospitality Q3 Same Store Sales Rose 3.2 Percent
Friday, 8 Nov 2019 

DiamondRock Hospitality Co ::MPANY REPORTS THIRD QUARTER 2019 RESULTS.Q3 SAME STORE SALES ROSE 3.2 PERCENT.Q3 ADJUSTED FFO PER SHARE $0.27.QTRLY COMPARABLE TOTAL REVENUE INCREASED 3.2% FROM COMPARABLE PERIOD OF 2018.QTRLY COMPARABLE REVPAR WAS $196.95, A 1.6% INCREASE FROM COMPARABLE PERIOD OF 2018."LOOKING AHEAD, OUR 2020 GROUP PACE IS UP A ROBUST 17%, WITH STRONGEST GROWTH AT OUR HOTELS IN CHICAGO AND BOSTON.".CO'S Q3 RESULTS WERE NEGATIVELY IMPACTED BY DISRUPTION FROM HURRICANE DORIAN IN SEPTEMBER 2019.SEES FY COMPARABLE REVPAR GROWTH LOW END 0 PERCENT AND HIGH END 0.75 PERCENT.SEES FY COMPARABLE TOTAL REVPAR GROWTH LOW END 1.0 PERCENT AND 2.5 PERCENT.SEES FY ADJUSTED FFO PER SHARE LOW END $1.03 PER SHARE AND HIGH END $1.05 PER SHARE.SEES FY ADJUSTED EBITDA LOW END $256 MILLION AND HIGH END $260 MILLION.  Full Article

Diamondrock Expect Dorian Related Earnings Disruption To Be Less Than $1 Mln
Tuesday, 10 Sep 2019 

Sept 10 (Reuters) - DiamondRock Hospitality Co ::DIAMONDROCK PROVIDES UPDATE ON IMPACT OF HURRICANE DORIAN.DIAMONDROCK HOSPITALITY CO - EXPECT DORIAN STORM-RELATED EARNINGS DISRUPTION TO BE LESS THAN $1 MILLION IN HOTEL ADJUSTED EBITDA FOR PORTFOLIO.DIAMONDROCK HOSPITALITY CO - PROPERTY DAMAGE AND CONSTRUCTION DELAYS AT HOTELS WERE MINIMAL DUE TO IMPACT OF HURRICANE DORIAN.  Full Article

Diamondrock Hospitality Reports Q2 Adjusted FFO Per Share Of $0.32
Tuesday, 6 Aug 2019 

Aug 5 (Reuters) - DiamondRock Hospitality Co ::REPORTS SECOND QUARTER 2019 RESULTS.Q2 ADJUSTED FFO PER SHARE $0.32.QTRLY TOTAL COMPARABLE REVENUES INCREASED 3.9%.QTRLY COMPARABLE REVPAR WAS $208.02, A 1.1% INCREASE.LOWERED EXPECTATIONS FOR REVPAR GROWTH AND ADJUSTED EBITDA FOR BALANCE OF YEAR.COMPANY AND ITS INSURERS ARE IN LITIGATION REGARDING COMPANY'S INSURANCE CLAIM.EXPECTS TO INVEST ABOUT $125 MILLION ON CAPITAL IMPROVEMENTS AT ITS HOTELS IN 2019.SEES FY COMPARABLE REVPAR GROWTH 0% - 1.5%.SEES FY ADJUSTED. FFO PER SHARE $1.01 - $1.05.EXPECTS ABOUT 24.5% TO 25.5% OF ITS FY ADJUSTED EBITDA TO BE EARNED DURING Q3.SEES FY COMPARABLE TOTAL REVPAR GROWTH 0.5% - 2.5%.FY2019 FFO PER SHARE VIEW $1.03 -- REFINITIV IBES DATA.  Full Article

Diamondrock Hospitality Co Reports Q4 Adjusted Ffo Per Share Of $0.26
Tuesday, 26 Feb 2019 

Feb 25 (Reuters) - DiamondRock Hospitality Co ::MPANY REPORTS FOURTH QUARTER AND FULL YEAR 2018 RESULTS.Q4 ADJUSTED FFO PER SHARE $0.26.QTRLY EARNINGS PER DILUTED SHARE $0.12.QTRLY REVENUES $229.5 MILLION VERSUS $224.2 MILLION.QTRLY OCCUPANCY 77.0% VERSUS 77.4%.SEES FULL YEAR 2019 COMPARABLE REVPAR GROWTH 0.5 PERCENT - 2.5 PERCENT.SEES FULL YEAR 2019 ADJUSTED FFO PER SHARE $1.00 - $1.04.  Full Article