DIAMONDROCK HOSPITALITY ACQUIRES THE AC HOTEL MINNEAPOLIS DOWNTOWN [Yahoo! Finance]
Diamondrock Hospitality Company (DRH)
Last diamondrock hospitality company earnings: 2/20 04:05 pm
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Source: Yahoo! Finance
simple interest in the 245-room AC Hotel Minneapolis Downtown (the "Hotel") for $30 million , or approximately 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 discount to replacement cost with minimal future capital requirements while also providing the Company with immediate yield." The acquisition represents
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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 DOWNTOWNPR Newswire
- 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