9.79 0.00 (0.00%)
After hours: 4:49PM EDT
|Bid||9.75 x 3200|
|Ask||9.83 x 1800|
|Day's Range||9.76 - 9.99|
|52 Week Range||8.70 - 11.22|
|Beta (3Y Monthly)||1.33|
|PE Ratio (TTM)||21.56|
|Earnings Date||Nov 8, 2019|
|Forward Dividend & Yield||0.50 (5.04%)|
|1y Target Est||9.79|
BETHESDA, Md., Oct. 9, 2019 /PRNewswire/ -- DiamondRock Hospitality Company (the "Company") (DRH) will report financial results for the third quarter 2019 on Friday, November 8th, 2019 before the market opens. 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 section of the Company's website at www.drhc.com. The conference ID is 9690568.
DiamondRock Hospitality is pleased to announce the highly anticipated return of the Frenchman's Reef Marriott Resort & Spa and a new, adjacent resort under Marriott's Autograph Collection, Noni Beach, a St. Thomas Resort. The $200+ million project is well underway and the re-envisioned resorts are expected to open in 2020.
(Bloomberg) -- Frenchman’s Reef, the largest resort on St. Thomas, was smashed by Hurricane Irma, which breached roofs, caved in walls and felled trees across the oceanfront property. Two years later, the hotel remains closed as its owner quarrels with insurers over millions in damages.It sounds bad, but it’s business as usual in the Caribbean, where resort owners balance room rates against insurance premiums and brace for the next disaster. Frenchman’s Reef is a good example. It closed for extensive repairs in 1997 after hurricanes battered the property in previous years.Despite the risk, hotel owners continue to justify investing in the region, tapping insurance markets to offset risk and paying asset prices that reflect the likelihood of future hurricanes. That rationale is getting tested as the recent run of destructive storms makes it harder and more expensive for beach resorts to get insurance.“My concern as a broker is that people are starting to think about this as, is it the new norm?” said Michael Rouse, U.S. property practice leader for Marsh LLC, the insurance brokerage unit of Marsh & McLennan Cos. “How much does climate change have to do with the severity and frequency that we’re seeing of hurricanes that are making landfall?”Beyond property damages, beach hotels from Puerto Rico to the Florida Keys struggled to attract tourists following the 2017 hurricane season, even long after airports and hotels had reopened. The mega-resorts of the Bahamas, which were mostly untouched by this year’s Hurricane Dorian, have to remind vacationers that they’re still in business after the Category 5 monster wiped out parts of the country.Real estate investment trusts that own hotels have seen portfolio-wide insurance premiums increase by as much as 50% since 2017, said Michael Bellisario, an analyst at Robert W. Baird & Co. Vacationers already pay richly for ocean views and warm weather, limiting owners’ ability to raise prices.“You try to maximize rates as much as you can,” said Bellisario. “At some point you’re going to try to pass it on, but it’s easier said than done.”When things go right, insurance can work wonders for hotel owners. Braemar Hotels & Resorts, a REIT that owns the Ritz-Carlton St. Thomas, used business-interruption coverage to make up for lost revenue, Chief Executive Officer Richard Stockton said in an interview. At the same time, the company used the rebuilding process to update guest rooms and build a new family pool for the resort, which is slated to reopen in November.“It’s no different if a hurricane hit the property or it didn’t,” Stockton said. “The reality is it’s inconsequential to us from a financial perspective.”It helps that beach resorts are often important parts of their local economies, and can tap different forms of government aid to get back in business. Before it closed, Frenchman’s Reef was the U.S. Virgin Islands’ largest private employer, owner DiamondRock Hospitality Co. said in a court filing. The company would stand to benefit from pending legislation that would use tourism taxes to help fund property improvements.DiamondRock is also asking its insurers to pay. The Bethesda, Maryland-based company submitted a preliminary claim of more than $300 million to cover business interruption and rebuild the property in compliance with a new building code that was implemented after Irma. Its insurers have paid about $100 million, arguing in court filings that some of the repairs DiamondRock wants to make aren’t covered.DiamondRock didn’t respond to requests for comment. The company has said it expects to reopen the resort next year, and that a trial to contest the insurance dispute is set to begin in January.Recent hurricanes haven’t radically changed the desirability of owning or insuring beach hotels, Hilton Worldwide Holdings Inc. CEO Christopher Nassetta said at a travel industry conference last week.“I do not think anytime soon you’re going to see people say that they’re going to pull out,” he said. “I do not think these are going to become uninsurable risks.”\--With assistance from Katherine Chiglinsky.To contact the reporter on this story: Patrick Clark in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Rob Urban at email@example.com, Christine MaurusFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
It looks like DiamondRock Hospitality Company (NYSE:DRH) is about to go ex-dividend in the next 4 days. Ex-dividend...
BETHESDA, Md. , Sept. 16, 2019 /PRNewswire/ -- DiamondRock Hospitality Company (the "Company") (NYSE: DRH) announced today that its Board of Directors declared a quarterly dividend of $0.125 ...
BETHESDA, Md., Sept. 10, 2019 /PRNewswire/ -- DiamondRock Hospitality Company (the "Company") (DRH) today provided an update on its hotels that were impacted by Hurricane Dorian. "We extend our heartfelt sympathies to all those in Dorian's path this past week, and our deepest gratitude to the folks on the ground at our hotels. The Frenchman's Reef & Morning Star Beach Resort, which has been closed since late 2017 and in the process of a comprehensive rebuilding, experienced the effects of Hurricane Dorian as a Category 1 storm. The property experienced very minor physical damage and a one week delay to the construction schedule.
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BETHESDA, Md. , Aug. 8, 2019 /PRNewswire/ -- DiamondRock Hospitality Company (the "Company") (NYSE: DRH) a lodging-focused real estate investment trust that owns a portfolio of 31 premium hotels ...
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Comparable Total RevPAR Growth of 3.4% Comparable Hotel Adjusted EBITDA Growth of 4.9% Repurchased 1.0 Million Shares BETHESDA, Md. , Aug. 5, 2019 /PRNewswire/ -- DiamondRock Hospitality Company (the ...
BETHESDA, Md. , July 15, 2019 /PRNewswire/ -- DiamondRock Hospitality Company (the "Company") (NYSE: DRH) today announced that its Havana Cabana Resort has been named #3 in the Top Ten Resort ...
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BETHESDA, Md., July 8, 2019 /PRNewswire/ -- DiamondRock Hospitality Company (the "Company") (DRH) will report financial results for the second quarter 2019 on Monday, August 5th, 2019 after the market closes. A conference call for investors and other interested parties is scheduled for the next day, Tuesday, August 6th, at 9:30 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 section of the Company's website at www.drhc.com. The conference ID is 3571079. For those unable to listen to the call live, a taped rebroadcast will be available two hours after completion of the live call through August 20th, 2019. To access the rebroadcast, dial 855-859-2056, or internationally at 404-537-3406, and use conference ID 3571079. A replay of the call will also be available on the Internet at www.drhc.com for one week.
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BETHESDA, Md. , June 14, 2019 /PRNewswire/ -- DiamondRock Hospitality Company (the "Company") (NYSE: DRH) announced today that its Board of Directors declared a quarterly dividend of $0.125 per ...
One of the best investments we can make is in our own knowledge and skill set. With that in mind, this article will...
DiamondRock Hospitality Co NYSE:DRHView full report here! Summary * Bearish sentiment is low * Economic output for the sector is expanding but at a slower rate Bearish sentimentShort interest | PositiveShort interest is low for DRH with fewer than 5% of shares on loan. The last change in the short interest score occurred more than 1 month ago and implies that there has been little change in sentiment among investors who seek to profit from falling equity prices. Money flowETF/Index ownership | NeutralETF activity is neutral. ETFs that hold DRH had net inflows of $1.31 billion over the last one-month. While these are not among the highest inflows of the last year, the rate of inflow is increasing. Economic sentimentPMI by IHS Markit | NegativeAccording to the latest IHS Markit Purchasing Managers' Index (PMI) data, output in the Financials sector is rising. The rate of growth is weak relative to the trend shown over the past year, however, and is easing. Credit worthinessCredit default swapCDS data is not available for this security.Please send all inquiries related to the report to firstname.lastname@example.org.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.
BATON ROUGE, La., May 30, 2019 -- Lamar Advertising Company (Nasdaq: LAMR), a leading owner of outdoor advertising and logo sign displays, today announced that Jay Johnson has.
BETHESDA, Md., May 30, 2019 /PRNewswire/ -- DiamondRock Hospitality Company ("DiamondRock" or the "Company") (DRH) today announced that Executive Vice President & Chief Financial Officer, Jay Johnson, will be stepping down from his role effective August 31, 2019, in order to assume the position of Chief Financial Officer of Lamar Advertising Company (LAMR) in Baton Rouge, Louisiana. Mr. Johnson has served as DiamondRock's Chief Financial Officer since April 1, 2018. The Company expects to name a new Chief Financial Officer before Mr. Johnson's scheduled departure on August 31, 2019.