Diamondrock Hospitality ( (DRH) ) has released its Q4 earnings. Here is a breakdown of the information Diamondrock Hospitality presented to its investors.
DiamondRock Hospitality Company is a real estate investment trust (REIT) that owns a diversified portfolio of 36 premium hotels and resorts across the United States, focusing on leisure destinations and key gateway markets.
In its latest earnings report, DiamondRock Hospitality announced a net loss of $13.7 million for the fourth quarter of 2024, primarily due to an impairment loss on the Westin Washington D.C. City Center. However, the company saw a 5.7% increase in comparable revenues and a 16.4% rise in comparable hotel adjusted EBITDA compared to the same period in 2023.
Key financial highlights include a full-year net income of $38.2 million, despite the impairment and severance costs. The company reported a 4.3% increase in comparable revenues for the year, reaching $1.1 billion, and a 6.9% increase in adjusted EBITDA. Strategic moves included the acquisition of AC Hotel Minneapolis Downtown and the sale of the Westin Washington D.C. City Center for $92 million.
Looking ahead, DiamondRock Hospitality expects continued growth from its urban hotels and rebranded properties, with plans to invest $85 to $95 million in capital improvements in 2025. The company remains focused on driving incremental group demand and improving operating efficiencies in its resort hotels.
Overall, DiamondRock Hospitality’s management anticipates steadily improving growth throughout 2025, supported by strategic asset repositioning and capital redeployment initiatives.