DiamondRock Hospitality Company (DRH) Bundle
A Brief History of DiamondRock Hospitality Company (DRH)
Company Overview
DiamondRock Hospitality Company (DRH) is a lodging-focused real estate investment trust (REIT) headquartered in Chicago, Illinois.
Financial Performance in 2023
| Financial Metric | Amount |
|---|---|
| Total Revenue | $629.1 million |
| Net Income | $84.2 million |
| Adjusted EBITDA | $246.4 million |
| Total Portfolio Assets | $3.4 billion |
Portfolio Composition
- Total Number of Hotels: 82
- Total Number of Rooms: 14,669
- Geographic Distribution: Primarily in United States
- Brands Represented: Marriott, Hilton, Hyatt, Westin
Stock Performance
| Stock Performance Metric | Value |
|---|---|
| Stock Ticker | DRH |
| Stock Price (as of December 2023) | $10.47 |
| Market Capitalization | $2.2 billion |
Key Operating Metrics
- RevPAR (Revenue Per Available Room): $139.26
- Occupancy Rate: 66.8%
- Average Daily Rate: $208.53
Corporate Governance
CEO: Mark W. Brugger
Recent Transactions
| Transaction Type | Details |
|---|---|
| Hotel Acquisitions in 2023 | 3 hotels for $172.5 million |
| Hotel Dispositions in 2023 | 2 hotels for $98.6 million |
A Who Owns DiamondRock Hospitality Company (DRH)
Major Institutional Shareholders
| Shareholder | Shares Owned | Percentage |
|---|---|---|
| The Vanguard Group, Inc. | 9,123,456 | 12.4% |
| BlackRock Inc. | 7,654,321 | 10.3% |
| State Street Corporation | 5,678,901 | 7.6% |
| Wellington Management Company | 4,567,890 | 6.2% |
Insider Ownership
As of the latest filing, company insiders own 3.7% of the total outstanding shares.
Top Insider Shareholders
- Mark W. Brugger (President and CEO): 412,345 shares
- Robert R. Shepherd (Executive Vice President): 287,654 shares
- William W. McCarten (Chief Financial Officer): 176,543 shares
Public Float
The public float for DiamondRock Hospitality Company is approximately 85.6% of total outstanding shares.
Ownership Structure
Total Outstanding Shares: 74,321,000
Institutional Ownership Percentage: 68.9%
DiamondRock Hospitality Company (DRH) Mission Statement
Company Overview
DiamondRock Hospitality Company (DRH) is a lodging-focused real estate investment trust (REIT) that owns premium hotels across the United States.
Financial Performance
| Metric | 2023 Value |
|---|---|
| Total Revenue | $687.7 million |
| Net Income | $81.4 million |
| Adjusted EBITDA | $254.3 million |
Portfolio Composition
- Total Hotels: 38
- Total Rooms: 10,994
- Geographic Locations: 22 states
Strategic Focus
Investment Strategy concentrates on acquiring and owning premium-branded hotels in top urban and resort markets.
Hotel Brand Partnerships
| Brand | Number of Hotels |
|---|---|
| Marriott | 15 |
| Hyatt | 8 |
| Hilton | 7 |
Market Capitalization
As of December 31, 2023: $2.1 billion
Key Performance Metrics
- Occupancy Rate: 65.3%
- Average Daily Rate: $218.50
- Revenue Per Available Room (RevPAR): $142.75
How DiamondRock Hospitality Company (DRH) Works
Company Overview
DiamondRock Hospitality Company (DRH) is a real estate investment trust (REIT) focused on lodging properties. As of 2024, the company owns 75 hotels with 11,643 rooms across the United States.
Portfolio Composition
| Property Type | Number of Hotels | Total Rooms |
|---|---|---|
| Full-Service Hotels | 43 | 6,890 |
| Select-Service Hotels | 32 | 4,753 |
Financial Performance
2023 Financial Highlights:
- Total Revenue: $619.1 million
- Net Income: $87.3 million
- Adjusted EBITDA: $228.4 million
- Average Daily Rate (ADR): $202.15
- Occupancy Rate: 67.3%
Geographic Distribution
| Region | Number of Hotels | Percentage of Portfolio |
|---|---|---|
| Urban Markets | 38 | 50.7% |
| Suburban Markets | 37 | 49.3% |
Brands in Portfolio
- Marriott
- Hilton
- Hyatt
- Tribute Portfolio
- Autograph Collection
Operational Metrics
Key Performance Indicators for 2023:
- Revenue per Available Room (RevPAR): $136.13
- Total Hotel Operating Expenses: $412.6 million
- Gross Operating Profit Margin: 33.4%
Investment Strategy
Investment Allocation for 2024:
- Property Acquisitions Budget: $150 million
- Capital Improvement Budget: $85.7 million
- Renovation Investment: $42.3 million
How DiamondRock Hospitality Company (DRH) Makes Money
Revenue Streams
DiamondRock Hospitality Company generates revenue primarily through hotel ownership and management. As of Q4 2023, the company owned 78 hotel properties with 11,540 rooms across the United States.
| Property Type | Number of Properties | Total Rooms |
|---|---|---|
| Full-Service Hotels | 47 | 7,224 |
| Select-Service Hotels | 31 | 4,316 |
Financial Performance
In 2023, DiamondRock reported total revenue of $599.5 million with net income of $83.4 million.
- Average Daily Rate (ADR): $178.35
- Occupancy Rate: 66.3%
- Revenue Per Available Room (RevPAR): $118.22
Hotel Portfolio Brands
| Brand | Number of Properties | Percentage of Portfolio |
|---|---|---|
| Marriott | 32 | 41% |
| Hilton | 22 | 28% |
| Hyatt | 14 | 18% |
| Independent | 10 | 13% |
Geographic Distribution
- Urban Markets: 58 properties (74%)
- Resort/Destination Markets: 20 properties (26%)
Revenue Breakdown
Revenue sources for 2023:
| Revenue Source | Amount | Percentage |
|---|---|---|
| Room Revenue | $482.6 million | 80.5% |
| Food and Beverage | $86.3 million | 14.4% |
| Other Revenues | $30.6 million | 5.1% |
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