DIAMONDROCK HOSPITALITY COMPANY

DIAMONDROCK HOSPITALITY COMPANY

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Company Overview
DiamondRock Hospitality Company is an American publicly quoted company listed on New York Stock Exchange under the symbol “DRH”. The company’s principal activities are to own, acquire and invest in hotel properties in North America. It also invests in premium limited-service and extended-stay hotel properties in urban locations. DiamondRock was established in 2004, and since then has been one of the most active acquirers of premium hotels in the United States. The company has acquired more than 1 billion US dollar of hotels and intends to acquire additional hotels that meet its stringent underwriting criteria.
Operating as an umbrella partnership real estate investment trust (UPREIT), DiamondRock owns more than 20 premium luxury/full-service hotels, and premium urban select-service hotels with nearly 10,000 rooms in major markets throughout the United States. It targets properties in urban areas for possible renovation, rebranding, or conversion. The company’s portfolio is balanced between full-service business hotels, resorts and conference centers and urban select service hotels in prime markets that are attractive destinations for both groups and transient guests.
The company has a relationship with Marriott that gives the company a first look at hotel acquisition and investment opportunities. It is the sole general partner and owner of an operating partnership that, through subsidiary Bloodstone, leases and manages the firm’s properties. Further, DiamondRock is committed to maximizing shareholder value through investing in premium full-service hotels and, to a lesser extent, premium urban select-service hotels. The company is headquartered in Bethesda, Maryland in the United States.
Business Summary
DiamondRock Hospitality Company is a lodging-focused real estate company. It owns a portfolio of 20 premium hotels and resorts that contain approximately 9,600 guestrooms. The hotels are concentrated in key gateway cities and in destination resort locations and are all operated under a brand owned by the lodging brand companies, which include Marriott International, Inc. (Marriott), Starwood Hotels & Resorts Worldwide, Inc. (Starwood) or Hilton Worldwide (Hilton). The Company’s properties are concentrated in five gateway cities, New York City, Los Angeles, Chicago, Boston and Atlanta.
Description and history
DiamondRock Hospitality Company is a lodging-focused real estate company. It owns a portfolio of 20 premium hotels and resorts that contain approximately 9,600 guestrooms. The hotels are concentrated in key gateway cities and in destination resort locations and are all operated under a brand owned by the lodging brand companies, which include Marriott International, Inc. (Marriott), Starwood Hotels & Resorts Worldwide, Inc. (Starwood) or Hilton Worldwide (Hilton). The Company’s properties are concentrated in five gateway cities, New York City, Los Angeles, Chicago, Boston and Atlanta.

The Company has an investment sourcing relationship with Marriott. Marriott contributed to the Company certain amounts in exchange for the right to manage hotels, known as key money. In addition, Marriott provided operating cash flow guarantees for certain hotels and has funded shortfalls of actual hotel operating income, known as yield support. Marriott provided yield support for the Oak Brook Hills Marriott Resort, Orlando Airport Marriott and SpringHill Suites Atlanta Buckhead.

Business Line
To own, acquire and invest in hotel properties in North America
Subsidiary
DIAMOND ROCK BETHESDA OWNER LIMITED PARTNERSHIP
Advisor
KPMG LLP
IPO date
5/26/2005
US SIC Code
6798
Company Address
Suite 800
6903, Rockledge Drive
City province or state postal code
20817, BETHESDA, MD
Phone: +1 240 744 1150
Fax:
Country address: UNITED STATES OF AMERICA
Website url: www.drhc.com