An oversupply of hotels or increased competition in their markets could result in reduced occupancy rates, revenues, and profits, which could materially affect the company's business and ability to make distributions to stockholders. The full-year total was $611.7 million, a 33.5% decrease for the same period. The resort is generating over a 9.0% yield on 2021 forecasted NOI and is expected to continue to grow in the future. Self-motivated leader with ability to build consensus, motivate and convey complex information simply and effectively, leading to consistent success with customers and teammates. Improve this listing. These risks include, but are not limited to: national and local economic and business conditions; operating risks associated with the hotel business; risks associated with the level of the Company's indebtedness; relationships with property managers; the ability to compete effectively in areas such as access, location, quality of accommodations and room rate structures; changes in travel patterns, taxes and government regulations which influence or determine wages, prices, construction procedures and costs; and other risk factors contained in the Company's filings with the Securities and Exchange Commission. at DiamondRock made the decision seven years ago to strategically focus on resorts in destination markets, which have significantly benefited from robust leisure demand, he said. at "The six transactions we successfully completed over the last year solidify DiamondRock's strategic initiative to curate a preeminent portfolio of leisure-oriented, lifestyle hotels and resorts," said Mark W. Brugger, President and Chief Executive Officer of DiamondRock Hospitality Company. In total, a dozen of the REIT's resort and lifestyle hotels beat 2019 revenue per available room levels in the fourth quarter, led by properties such as the Henderson Beach Resort in Destin, Florida. Transfix, Sr. For this initial attempt, I concentrated on the key aspect of REITs: funds from operations (FFO). Should DRH call the preferred stock, common stockholders would see a significant boost to FFO. If you're familiar with my work, you know that it's data-driven. My investment philosophy is primarily high-quality firms. Is a native of South Africa. The recently constructed luxury oceanfront resort offers 40,000 square feet of meeting space, a "lazy river" pool, separate family and adult pools, a world-class spa, as well as numerous restaurant and bar outlets, including Destin's only rooftop bar. In full-year terms, comparable RevPAR declined 32.6% to $124.74. My Roots In Africa, Senior Marketing Project Manager at Transfix and Real Estate Agent with Berkshire Hathaway HomeServices, FNR Mr. Brugger co-founded the Company in 2004 and successfully led its initial public offering (IPO) on the New York Stock Exchange the following year. Search eBay faster with PicClick. The Bourbon Orleans Hotel represents a rare opportunity to acquire a large, fully unencumbered, fee simple hotel in the heart of the famed French Quarter of New Orleans. "The positive results of the fourth quarter and the full year were powered by DiamondRock's large portfolio of drive-to resorts," he said on a fourth quarter and full-year earnings call with analysts Friday. Neil Young & Crazy Horse - Born to Rock Doppel LP Near Mint at This $500,000 note has terms that we feel reflect the current market, while more in line with our current stock price. Get quick answers from La Table de Chantal staff and past visitors. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body. Emergency Preparedness Coordinator at Tetra Tech at I have no business relationship with any company whose stock is mentioned in this article. For those curious, Xenia Hotels & Resorts (XHR) took second place. Is this happening to you frequently? Read More > 02/21/23 from 8 AM - 9 PM ET. "Finding off-market acquisitions in unique markets allows DiamondRock to purchase higher quality real estate at better pricing than many others. DiamondRock Hospitality Location 2 Bethesda Metro Ctr Ste 1400, Bethesda, Maryland, 20814, United States Description Read More Industry Real Estate Mr. Brugger received his J.D. Change of SIC Code - VPR Brands LP. What is Neil Rock's role at DiamondRock, LLC? Diamondrock LLC in Irvine, CA | Company Information & Reviews Mr. Tennis received a Juris Doctorate from New York University School of Law in 1981 and a B.A. Previously, Mr. Furbay served as Chief Investment Officer at Loews Hotels & Resorts for four years. Our current units outstanding amount is $50,672,125. DiamondRock Acquires Two Hotels Combined Price of $108.6 Million Mr. Brugger has an extensive background in real estate, capital markets and structured finance, including as a former executive for Marriott International (NASDAQ: MAR). Find many great new & used options and get the best deals for The NEIL DIAMOND Collection (3 Pak CDs GSC Music 2000) Pop, Soft Rock, Ballad at the best online prices at eBay! I also cover stocks that I consider to be high-quality, and investable that are outside the software world.Fans of video, please check out my YouTube channel where I also cover finance and stock research at youtube.com/ashanderson1. Amendment of Share Purchase Agreements They all had lasagne with no regrets. BETHESDA, Md., Aug. 4, 2021 /PRNewswire/ --DiamondRock Hospitality Company (the "Company") (NYSE:DRH) today announced that it has acquired the Bourbon Orleans Hotel ("Bourbon Orleans" or the "Hotel"), a lifestyle boutique hotel on the famed Bourbon Street in the French Quarter of New Orleans, Louisiana, and Henderson Park Inn (the "Resort"), a beachfront resort situated on the Emerald Coast in Destin, Florida. Apr 28, 2023 8:30 AM, UC Asset Rated "Buy" by Independent Analyst with Target Price at $4.00 per Share Prior to DiamondRock, Ms. Quinn was the Vice President of Finance and Accounting for Meristar Hospitality Corporation, a publicly-traded lodging real estate investment trust. at "We remain all in on our thesis that superior profit growth can be achieved from experiential resorts and lifestyle hotels. "Several resorts achieved record-breaking rates in 2021, and we are seeing this trend continuing.". I have been here a number of times with colleagues. I can't say too much about the various dishes, as Ihave always had the same thing every time I have visited, but my colleagues have all enthused about the other dishes. Sweet Caroline Neil Diamond cover (fender player stratocaster black sss) Previously, Mr. Tennis worked for Marriott International, Inc. and its related entities for 17 years from 1992 to 2009, initially as Assistant General Counsel in the Law Department and then as Senior Vice President responsible for the Global Asset Management Group. You must be logged in to give a plus1 award. Re: elbiatcho1 Using return on capital [ROC] and earnings yield as ranking factors, it targets firms that efficiently generate profits and trade at attractive prices. He currently sits on the Board of Directors of DiamondRock. Only $200 per official company press release! address is [emailprotected]***.***. The fee-simple interest in the Resort was purchased fully unencumbered by brand and management, previously managed by an owner-operator. Enjoy the services provided by our budget hotels: parking Wi-Fi access, breakfast in the form of an all-you-can eat buffet, etc.. The purchase price of the Henderson Beach Resort represents a 6.4% yield on 2021 forecasted hotel net operating income ("NOI") and is expected to stabilize above an 8.0% yield. DiamondRock Hospitality Company is a self-advised real estate investment trust (REIT) that is an owner of a leading portfolio of geographically diversified hotels concentrated in top gateway markets and destination resort locations. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Each resort is unencumbered by brand and management enabling the Company to swiftly implement DiamondRock's asset management best practices. at Fortunately, the company's remaining debt is primarily fixed rate, all under 4.4%, amounting to around $380 million. We feel that we need to take the right steps to maintain and build shareholder equity.