DRH - Mergers and acquisitions

BETHESDA, Md., Nov. 15, 2024 /PRNewswire/ -- DiamondRock Hospitality Company (the "Company") (NYSE:DRH) today announced it has acquired the fee simple interest in the 245-room AC Hotel Minneapolis Downtown (the "Hotel") for $30 million, or approximately $122,000 per key with cash on hand. The Hotel, constructed in 2016, is located in downtown Minneapolis, which has one of the largest concentrations of Fortune 1000 companies in the world and is also a major hub for biotechnology and medical innovation. "The AC Hotel Minneapolis Downtown represents an opportunity to acquire a recently constructed urban hotel with good in-place cash flow in a rapidly recovering hotel market with a strong roste

Authentic Western Resort Near Yellowstone National Park BETHESDA, Md., Aug. 2, 2023 /PRNewswire/ -- DiamondRock Hospitality Company (the "Company") (NYSE:DRH) today announced that it has acquired the fee-simple interest in the Chico Hot Springs Resort (the "Resort"), a lifestyle resort in Paradise Valley, Montana and near Yellowstone National Park. The purchase price for the Resort and adjacent ranch (collectively, "Chico") is $33 million. Chico was acquired from an individual owner-operator and is an independent resort, completely unencumbered by brand and management agreements.

SIGNIFICANT VALUE CREATION OPPORTUNITIES IN OPERATIONS & SYNERGIES BETHESDA, Md., May 5, 2022 /PRNewswire/ -- DiamondRock Hospitality Company (the "Company" or "DiamondRock") (NYSE:DRH) today announced it acquired a fee-simple interest in The Kimpton Fort Lauderdale Beach Resort, a boutique lifestyle beach resort in Fort Lauderdale, Florida, for a total investment of $35.3 million ($367,700/key).  The resort will be operated by HEI Hotels & Resorts under a franchise agreement with Kimpton Hotels & Restaurants. "This acquisition marks our 14th resort, and we are extremely exci