Financial Data and Key Metrics Changes - Comparable RevPAR grew 2.2% year-over-year, which was 260 basis points higher than the growth in the first quarter [3] - Total RevPAR increased 4.5%, an acceleration from the 2.4% growth in the first quarter [3] - Comparable hotel adjusted EBITDA was $99.5 million, reflecting a 5.5% growth over last year [5] - Adjusted FFO per share increased 6% over 2023 to $0.34 per share [5] - 2024 adjusted EBITDA is expected to range between $278 million and $290 million [6] - 2024 adjusted FFO is projected to range between $201.5 million to $213.5 million, with adjusted FFO per share increasing to $0.95 to $1 [6] Business Line Data and Key Metrics Changes - Group revenue increased 7.2% year-over-year, with banquet catering and AV revenue rising over 20% [4] - Comparable RevPAR at resorts was 1.9% higher than last year, with total RevPAR 2.7% higher [4] - Comparable RevPAR at urban hotels was 2.2% higher than last year, with total RevPAR 5.4% above 2023 [4] - Comparable hotel operating expenses increased 4.5% from last year, with total wages and benefits increasing by 7% [4] Market Data and Key Metrics Changes - Group room revenue on the books is up 14% over the prior year, with over 30% growth at specific urban hotels [11] - Resort comparable occupancy increased 8.6%, offset by a 6.1% decline in ADR [11] - The company is outperforming its markets, taking share in 14 of its 16 resorts [12] Company Strategy and Development Direction - The company is focused on maximizing profit rather than just RevPAR or margin, shifting towards Group business to enhance total RevPAR growth [10] - The strategy includes reducing capital expenditures as a percentage of revenues to improve retained earnings for share repurchases and ROI projects [17][18] - The company plans to continue growing its leisure market exposure while also targeting urban markets [15][20] Management's Comments on Operating Environment and Future Outlook - Management expects total RevPAR growth to be in the range of 3% to 4.5% for the year, with a slight reduction in room RevPAR growth due to the focus on Group business [6] - The company anticipates that the second half of the year will not see the same level of out-of-room spending as the first half [6] - Management is optimistic about the performance of the Group strategy and its ability to drive incremental revenue and profit [6] Other Important Information - The company successfully implemented a new Oracle cloud-based ERP system to streamline accounting activities and enhance data analysis [8] - Share repurchase activity commenced during the quarter, with 2.8 million shares repurchased at an average price of $8.36 per share [7] - The company plans to repay a $73 million mortgage maturity with cash on hand and extend a $300 million term loan maturity to January 2026 [7] Q&A Session Summary Question: Update on noncore asset identification and transaction market - Management highlighted specific noncore assets and noted that the transaction market remains challenging due to high debt costs [21][22] Question: Rate sensitivity of leisure transient customers - Management indicated that there is a reversion to prior patterns, with a focus on building the base through Group bookings [23][24] Question: Insights on portfolio composition and guidance - Management attributed the ability to raise guidance to a strategic shift towards Group bookings and effective management of leisure-centric properties [27][28] Question: Appetite for dilutive trophy asset acquisitions - Management expressed a lack of interest in dilutive acquisitions, focusing instead on capital allocation that maximizes returns [30][31] Question: Benefits of the new enterprise analytics platform - The platform allows for standardized reporting and benchmarking across the portfolio, aiding in cost management [34] Question: Changes to ROI pipeline - Management confirmed no material changes to the ROI pipeline but continues to evaluate potential projects [36] Question: Priorities for share repurchase - Management indicated that share repurchases are a priority, especially given the current market conditions [39] Question: Sensitivity of smaller group bookings to economic changes - Management noted that smaller group bookings are less sensitive to economic changes compared to larger assets [75]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to _________ Commission File Number: 001-32514 DIAMONDROCK HOSPITALITY COMPANY (Exact Name of Registrant as Specified in Its Charter) Maryland ...

DiamondRock Hospitality (DRH) reported $309.28 million in revenue for the quarter ended June 2024, representing a year-over-year increase of 6.2%. EPS of $0.34 for the same period compares to $0.17 a year ago. The reported revenue compares to the Zacks Consensus Estimate of $301.38 million, representing a surprise of +2.62%. The company delivered an EPS surprise of +6.25%, with the consensus EPS estimate being $0.32. While investors closely watch year-over-year changes in headline numbers -- revenue and ear ...

DiamondRock Hospitality (DRH) came out with quarterly funds from operations (FFO) of $0.34 per share, beating the Zacks Consensus Estimate of $0.32 per share. This compares to FFO of $0.32 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an FFO surprise of 6.25%. A quarter ago, it was expected that this hotel and resort real estate investment trust would post FFO of $0.16 per share when it actually produced FFO of $0.17, delivering a surprise of 6.25 ...

COMPANY CONTACT Briony Quinn Chief Financial Officer (240) 744-1196 FOR IMMEDIATE RELEASE DIAMONDROCK HOSPITALITY COMPANY REPORTS SECOND QUARTER 2024 RESULTS Comparable Total Revenues 4.8% Above 2023 Raises Midpoint of Full Year Guidance BETHESDA, Maryland, Thursday, August 1, 2024 – DiamondRock Hospitality Company (the "Company") (NYSE: DRH), a lodging-focused real estate investment trust that owns a portfolio of 36 premium hotels and resorts in the United States, today announced results of operations for ...

jewhyte/iStock via Getty Images Introduction I like preferred shares as a subdivision of my income portfolio, and my main focus is obviously on the issuer's ability to pay the preferred dividends while the balance sheet strength also plays an important role. The REIT's management team also calls value creation its 'magnetic north', and that definitely is an attitude I like to see. I have been keeping an eye on DiamondRock Hospitality's (NYSE:DRH) preferred shares and I used to have a long position which I s ...

BETHESDA, Md., June 3, 2024 /PRNewswire/ -- DiamondRock Hospitality Company (the "Company") (NYSE: DRH) announced that its Board of Directors has declared a quarterly cash dividend of $0.03 per common share to be paid on July 12, 2024 to shareholders of record as of June 28, 2024. The Company's Board of Directors also declared a quarterly dividend of $0.515625 per share on its 8.250% Series A Cumulative Redeemable Preferred Stock. The dividend is payable on June 28, 2024 to shareholders of record as of June ...

BETHESDA, Md., May 29, 2024 /PRNewswire/ -- DiamondRock Hospitality Company (the "Company") (NYSE: DRH) will report financial results for the second quarter 2024 after the market closes on Thursday, August 1, 2024. A conference call for investors and other interested parties is scheduled for the next day on Friday, August 2, 2024 at 9:00 a.m. Eastern Time (ET). The information to be discussed on the call will be contained in the Company's earnings release, which will be available in the Investor Relations s ...

BETHESDA, Md., May 16, 2024 /PRNewswire/ -- DiamondRock Hospitality Company (the "Company") (NYSE: DRH), a lodging-focused real estate investment trust that owns a portfolio of 36 premium hotels and resorts in the United States, today announced the promotion of Stephen Spierto to Chief Accounting Officer effective as of May 15, 2024. Mr. Spierto, age 34, joined the Company in November 2023 and previously served as Vice President, Corporate Controller of the Company from November 2023 until his May 2024 prom ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to _________ Commission File Number: 001-32514 DIAMONDROCK HOSPITALITY COMPANY (Exact Name of Registrant as Specified in Its Charter) FORM 10-Q Marylan ...