DIAMONDROCK HOSPITALITY COMPANY COMPLETES SALE OF THE WESTIN WASHINGTON, D.C. CITY CENTER [Yahoo! Finance Canada]
Diamondrock Hospitality Company (DRH)
Last diamondrock hospitality company earnings: 2/20 04:05 pm
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Source: Yahoo! Finance Canada
Company (the "Company") (NYSE: DRH) announced today that on February 19, 2025 , it completed the sale of the 410-room Westin Washington , D.C. City Center (the "Hotel") for a contract price of $92.0 million . The sales price represents an 11.2x multiple on 2024 Hotel EBITDA and a 7.5% capitalization rate on 2024 Hotel net operating income, or a capitalization rate of 5.6% inclusive of the Company's projected capital expenditures. Excluding a one-time property tax credit and temporary discount on franchise fees the Hotel received in 2024, the sales price represents an 11.9x multiple on 2024 Hotel EBITDA and a 7.0% capitalization rate on 2024 Hotel net operating income, or a capitalization rate of 5.2% inclusive of the Company's projected capital expenditures. "The sale of the Westin D.C. City Center marks an important step in our strategy to drive long-term earnings and cash flow per share growth and we plan to prudently redeploy the proceeds to create exceptional value for our share
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DRH
Earnings
- 11/6/25 - Beat
DRH
Sec Filings
- 12/8/25 - Form 8-K
- 11/28/25 - Form CERT
- 11/28/25 - Form 8-A12B
- DRH's page on the SEC website