DIAMONDROCK HOSPITALITY ACQUIRES THE AC HOTEL MINNEAPOLIS DOWNTOWN
Diamondrock Hospitality Company (DRH)
Last diamondrock hospitality company earnings: 2/20 04:05 pm
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Source: PR Newswire
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 roster of companies increasing their return to the office," said Jeffrey Donnelly, Chief Executive Officer of DiamondRock Hospitality Company. "The acquisition is aligned with our strategic objectives as we evaluate our portfolio and look to recycle capital efficiently into hotels at a significant discou
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DRH
News
- DiamondRock Hospitality (NYSE: DRH) was downgraded by analysts at Stifel Nicolaus from a "buy" rating to a "hold" rating. They now have a $10.25 price target on the stock, down previously from $10.75.MarketBeat
- DiamondRock Hospitality (NYSE: DRH) was downgraded by analysts at Evercore ISI from an "outperform" rating to an "inline" rating. They now have a $10.50 price target on the stock.MarketBeat
- DIAMONDROCK HOSPITALITY ACQUIRES THE AC HOTEL MINNEAPOLIS DOWNTOWN [Yahoo! Finance]Yahoo! Finance
- DiamondRock Hospitality (NYSE: DRH) was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating.MarketBeat
- Diamondrock Hospitality Co (DRH) Q3 2024 Earnings Call Highlights: Strong Urban Hotel ... [Yahoo! Finance]Yahoo! Finance
DRH
Earnings
- 11/7/24 - In-Line
DRH
Sec Filings
- 11/15/24 - Form 8-K
- 11/8/24 - Form 10-Q
- 11/7/24 - Form 8-K
- DRH's page on the SEC website