Key Developments: DiamondRock Hospitality Co (DRH)
9.29USD
19 Jun 2013
$-0.30 (-3.13%)
$9.59
$9.61
$9.67
$9.27
1,788,978
1,729,587
$10.60
$8.11
Latest Key Developments (Source: Significant Developments)
DiamondRock Hospitality Co Announces Second Quarter Dividend Of $0.085 Per Share
DiamondRock Hospitality Co announced that its Board of Directors declared a quarterly dividend of $0.085 per share to stockholders of record as of June 28, 2013. The dividend will be paid on July 11, 2013. Full Article
DiamondRock Hospitality Co Reaffirms FY 2013 Guidance
DiamondRock Hospitality Co reaffirmed fiscal 2013 guidance and expects RevPAR growth of 1% to 3%; adjusted EBITDA of $195 million to $205 million; adjusted FFO of $138 million to $145 million and adjusted FFO per share of $0.70 to $0.74 based on 195.9 million diluted weighted average shares. According to I/B/E/S Estimates, analysts are expecting the Company to report EBITDA of $199 million and FFO of $0.73 for fiscal 2013. Full Article
DiamondRock Hospitality Co Declares Quarterly Dividend
DiamondRock Hospitality Co announced that the Company increased its quarterly dividend for 2013 by 6% and its Board of Directors declared a quarterly dividend of $0.085 per share for stockholders of record as of March 31, 2013. The dividend will be paid on April 12, 2013. Full Article
DiamondRock Hospitality Co Issues FY 2013 Guidance Below Analysts' Estimates
DiamondRock Hospitality Co announced that for fiscal 2013, it expects RevPAR growth of 1% to 3%; adjusted EBITDA of $195 million to $205 million; adjusted FFO of $138 million to $145 million and adjusted FFO per share of $0.70 to $0.74 based on 195.9 million diluted weighted average shares. According to I/B/E/S Estimates, analysts are expecting the Company to report EBITDA of $212 million and FFO of $0.80 for fiscal 2013. Full Article
DiamondRock Hospitality Co Announces Management Changes
DiamondRock Hospitality Co announced that John L. Williams will be retiring from his position as President and Chief Operating Officer of the Company effective May 1, 2013. The Company has engaged Ferguson Partners to conduct a nationwide search for a successor to Mr. Williams. Full Article
DiamondRock Hospitality Co Closes $74 Million Secured Financing On The Westin Washington D.C. City Center Hotel
DiamondRock Hospitality Co announced that it closed on a $74 million loan secured by a mortgage on its Westin Washington D.C. City Center hotel. The loan bears interest at a fixed rate of 3.99% and has a term of 10 years. The loan proceeds will be used to repay a significant portion of the outstanding borrowings on the Company's credit facility. The Company expects to end the year with approximately $20 million outstanding under its $200 million senior unsecured credit facility. After completion of this loan, 15 of the Company's 27 hotels remain unencumbered by property-specific mortgage debt. Full Article
DiamondRock Hospitality Co Announces Fourth Quarter Dividend Of $0.08 Per Share
DiamondRock Hospitality Co announced that its Board of Directors declared a quarterly dividend of $0.08 per share to stockholders of record as of December 31, 2012. The dividend will be paid on January 10, 2013. Full Article
DiamondRock Hospitality Co Acquires The Hotel Rex In San Francisco
DiamondRock Hospitality Co announced that it acquired the fee simple interest in Hotel Rex (the "Hotel") for $29.5 million. The full-service boutique hotel is located in the Union Square district of San Francisco, California and is managed by Joie de Vivre Hospitality, LLC. The Company funded the acquisition with existing corporate credit facility capacity generated by the recent disposition of the Westin Atlanta North. Full Article
DiamondRock Hospitality Co Lowers FY 2012 Guidance; Issues Q4 2012 Guidance; FFO Guidance Below Analysts' Estimates
DiamondRock Hospitality Co announced that for fiscal 2012, it expects pro Forma RevPAR growth of 5% to 6%, adjusted EBITDA of $184 million to $190 million and adjusted funds per operations (FFO) per share of $0.74 to $0.76. For fourth quarter of 2012, it expects pro forma RevPAR growth of 3% to 5%, adjusted EBITDA of $67 million to $73 million and adjusted FFO per share of $0.25 to $0.27. The Company reported revenue of $ in fiscal 2011. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $773 million, EBITDA of $197 million and FFO of $0.76 for fiscal 2012; revenue of $275 million, EBITDA of $78 million and FFO of $0.29 for fourth quarter of 2012. Full Article
DiamondRock Hospitality Co Announces Third Quarter Dividend Of $0.08 Per Share
DiamondRock Hospitality Co announced that its Board of Directors declared a quarterly dividend of $0.08 per share to stockholders of record as of September 7, 2012. The dividend will be paid on September 19, 2012. Full Article
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