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Diamondrock Hospitality (DRH)
:DRH
Earnings Data
Report Date
Feb 27, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
0.07Last Year’s EPS
0.04Same Quarter Last Year
Based on 3 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 07, 2024
|% Change Since: -4.66%
|Next Earnings Date:Feb 27, 2025
Earnings Call Sentiment|Neutral
The earnings call presented a mix of positive and negative aspects. DiamondRock Hospitality showcased strong group demand and positive urban hotel performance, alongside successful property conversions and recognitions. However, challenges such as a decline in resort RevPAR, weaker transient pickup, and a reduction in CapEx guidance were also highlighted. The overall sentiment is balanced with both achievements and challenges noted.Company Guidance
During the DiamondRock Hospitality Company's third-quarter 2024 earnings call, the company provided detailed guidance, emphasizing several key metrics and strategic initiatives. Comparable RevPAR growth was reported at 2.8% year-over-year, with urban hotels leading at 4.2% growth. The company highlighted a 15.7% increase in group demand, driven by an 8.8% rise in rates and a 6.3% increase in room nights. Despite a 35 basis point headwind from Hurricane Helene, total revenue growth at resorts was 1.6%, with notable performances from Cavallo Point and Chico Hot Springs, showing RevPAR growth of 18% and 16%, respectively. Corporate adjusted EBITDA rose 3.3% to $75.6 million, while the net debt-to-EBITDA ratio was maintained at 3.7x. The company also announced a reduction in full-year capital expenditure guidance to $85 million, focusing on maximizing efficiency and ROI from projects. Moving forward, DiamondRock is strategically leveraging technology and exploring asset acquisitions and dispositions, with a focus on expanding the resort segment and targeting urban assets for long-term growth.Strong Group Demand
Group demand continued to show strength, with a 15.7% increase over 2023, driven by an 8.8% increase in rate and a 6.3% increase in room nights.
Urban Hotel Performance
Urban hotels led the portfolio with comparable RevPAR growth of 4.2% in the quarter. Average daily rates were up 5.6%.
Successful Property Conversions
The conversion of the Dagny in Boston was a success, delivering a 13.5% RevPAR growth in the quarter.
Accolades and Recognitions
DiamondRock received several accolades, including the Hotel Global Sector Leader status by GRESB for the fifth consecutive year.
Capital Markets and Balance Sheet Strength
Net debt-to-EBITDA ratio ended at 3.7x, with strong liquidity of over $75 million in corporate cash and full availability on the $400 million revolver.
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DRH Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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DRH Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 07, 2024 | $9.02 | $9.03 | +0.11% |
| Aug 01, 2024 | $7.86 | $7.86 | 0.00% |
| May 02, 2024 | $8.49 | $8.55 | +0.71% |
| Feb 22, 2024 | $9.02 | $9.00 | -0.22% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Diamondrock Hospitality (DRH) report earnings?
Diamondrock Hospitality (DRH) is schdueled to report earning on Feb 27, 2025, TBA Not Confirmed.
What is Diamondrock Hospitality (DRH) earnings time?
Diamondrock Hospitality (DRH) earnings time is at Feb 27, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is DRH EPS forecast?
DRH EPS forecast for the fiscal quarter 2024 (Q4) is 0.07.
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