DRH on Nasdaq
DiamondRock Hospitality Co
In its 2026 annual report the company says: “DiamondRock Hospitality Company is a self-managed and self-administered lodging-focused real estate investment trust that owns a portfolio of premium hotels and resorts. We are an owner, as opposed to an operator, of the hotels in our portfolio.”4 It is headquartered in Bethesda, Maryland.1 Its shares trade on Nasdaq under the symbol DRH.1
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Last updated Oct 21, 2026.
Overview
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- TickerDRH on Nasdaq1
- IndustryReal Estate Investment Trusts1
- HeadquartersBethesda, Maryland1
- Business address7373 Wisconsin Avenue, Suite 1900, Bethesda, Md2
- Filer categoryLarge accelerated filer2
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DiamondRock Hospitality Company is a self-managed and self-administered lodging-focused real estate investment trust ("REIT") that owns a portfolio of premium hotels and resorts. As of December 31, 2025, we owned 35 hotels with 9,595 rooms located in 26 markets in the United States. The markets that we target for ownership are those that we believe align with our strategic objectives, which include those in destination markets with constrained supply trends, those that provide geographic diversity relative to our existing portfolio, and those we consider to have high demand growth potential. Each hotel is positioned to maximize its cash flow and value; accordingly, we choose to operate nearly 40% of our portfolio as an independent hotel and the remainder are operated under a brand owned by one of the leading global lodging brand companies (Marriott International, Hilton Worldwide, or IHG…4 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Occupancy brought in 65% of the revenue DiamondRock Hospitality Co broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2023 | 2024 | 2025 |
|---|---|---|---|
| Occupancy | $717.4M | $742.6M | $728.6M |
| Food and Beverage | $259.8M | $281.7M | $281.8M |
| Hotel, Owned | $97.7M | $105.6M | $110.1M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Other costs91¢$1.0B
- Income tax0¢$1.2M
- Profit9¢$101.4M
Out of $1.1B in revenue.5
Where each dollar of operating cash went, fiscal 2025
- Dividends paid40¢$98.3M
- Share buybacks15¢$37.1M
- Kept or used elsewhere44¢$108.2M
Out of $243.7M of cash from operations.5
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.5
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Total revenues | $1.1B | $1.1B | $1.1B |
| Depreciation and amortization | $113.1M | $113.6M | $111.3M |
| Impairment losses | $1.1M | $34.2M | $941.0K |
| Corporate expenses | $34.4M | $52.9M | $32.0M |
| Business interruption insurance income | $0 | $0 | -$647.0K |
| Total operating expenses, net | $957.9M | $1.0B | $925.4M |
| Interest expense | $62.8M | $65.5M | $65.1M |
| Interest (income) and other (income) expense, net | -$6.8M | -$4.3M | -$2.6M |
| Loss on debt extinguishment | $5.8M | $0 | $0 |
| Total other expenses, net | $61.9M | $61.2M | $62.5M |
| Income before income taxes | $100.7M | $49.8M | $87.0M |
| Income tax benefit (expense) | $1.2M | -$1.5M | -$317.0K |
| Net income | $101.9M | $48.2M | $86.6M |
| Less: Net income attributable to noncontrolling interests | -$509.0K | -$203.0K | -$295.0K |
| Net income attributable to the Company | $101.4M | $48.0M | $86.3M |
| Distributions to preferred stockholders | -$9.8M | -$9.8M | -$9.8M |
| Net income attributable to common stockholders | $91.6M | $38.2M | $76.5M |
| Earnings per share available to common stockholdersbasic (in dollars per share) | $0.44 | $0.18 | $0.36 |
| Earnings per share available to common stockholdersdiluted (in dollars per share) | $0.44 | $0.18 | $0.36 |
| Basic (in shares) | 206.2M shares | 210.3M shares | 211.5M shares |
| Diluted (in shares) | 208.3M shares | 211.2M shares | 212.3M shares |
| Unrealized gain (loss) on interest rate derivative instruments | -$4.7M | $353.0K | -$2.6M |
| Unrealized loss on Rabbi trust assets | $349.0K | $326.0K | $591.0K |
| Amounts reclassified from other comprehensive income | -$718.0K | $0 | $0 |
| Comprehensive income | $96.9M | $48.9M | $84.6M |
| Comprehensive income attributable to noncontrolling interests | -$484.0K | -$209.0K | -$288.0K |
| Comprehensive income attributable to the Company | $96.4M | $48.7M | $84.3M |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.5
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Property and equipment, net | $2.6B | $2.6B | ||
| Assets held for sale | $0 | $93.4M | ||
| Right-of-use assets | $89.0M | $89.9M | ||
| Restricted cash | $35.1M | $47.4M | $45.6M | |
| Due from hotel managers | $137.8M | $145.9M | ||
| Prepaid and other assets | $77.2M | $83.0M | ||
| Cash and cash equivalents | $68.1M | $81.4M | $121.6M | |
| Total assets | $3.0B | $3.2B | ||
| Debt, net of unamortized debt issuance costs | $1.1B | $1.1B | ||
| Lease liabilities | $87.1M | $85.2M | ||
| Due to hotel managers | $109.6M | $121.7M | ||
| Liabilities of assets held for sale | $0 | $3.4M | ||
| Deferred rent | $77.4M | $73.5M | ||
| Unfavorable contract liabilities, net | $56.5M | $58.2M | ||
| Accounts payable and accrued expenses | $83.9M | $79.2M | ||
| Distributions declared and unpaid | $25.9M | $49.0M | $6.3M | |
| Deferred income related to key money, net | $7.4M | $7.7M | ||
| Total liabilities | $1.5B | $1.6B | ||
| Preferred stock, $0.01 par value; 10,000,000 shares authorized: 8.250% Series A Cumulative Redeemable Preferred Stock (liquidation preference $25.00 per share), no shares issued and outstanding at December 31, 2025; 4,760,000 shares issued and outstanding at December 31, 2024 | $0 | $48.0K | ||
| Common stock, $0.01 par value; 400,000,000 shares authorized; 203,703,182 and 207,592,210 shares issued and outstanding at December 31, 2025 and 2024, respectively | $2.0M | $2.1M | ||
| Additional paid-in capital | $2.1B | $2.3B | ||
| Accumulated other comprehensive loss | -$6.4M | -$1.4M | ||
| Distributions in excess of earnings | -$662.2M | -$679.0M | ||
| Total stockholders' equity | $1.4B | $1.6B | ||
| Noncontrolling interests | $9.2M | $8.7M | ||
| Total equity | $1.5B | $1.6B | $1.6B | $1.6B |
| Total liabilities and equity | $3.0B | $3.2B | ||
| Preferred stock, par value (in dollars per share) | $0.01 | $0.01 | ||
| Preferred stock, shares authorized (in shares) | 10.0M shares | 10.0M shares | ||
| Liquidation preference per share (in dollars per share) | $25 | $25 | ||
| Preferred stock, shares issued (in shares) | 0 shares | 4.8M shares | ||
| Preferred stock, shares outstanding (in shares) | 0 shares | 4.8M shares | ||
| Common stock, par value (in dollars per share) | $0.01 | $0.01 | ||
| Common stock, shares authorized (in shares) | 400.0M shares | 400.0M shares | ||
| Common stock, shares issued (in shares) | 203.7M shares | 207.6M shares | ||
| Common stock, shares outstanding (in shares) | 203.7M shares | 207.6M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Property and equipment, net | $2.6B | $2.6B | ||
| Assets held for sale | $0 | $93.4M | ||
| Right-of-use assets | $89.0M | $89.9M | ||
| Restricted cash | $35.1M | $47.4M | $45.6M | |
| Due from hotel managers | $137.8M | $145.9M | ||
| Prepaid and other assets | $77.2M | $83.0M | ||
| Cash and cash equivalents | $68.1M | $81.4M | $121.6M | |
| Total assets | $3.0B | $3.2B | ||
| Debt, net of unamortized debt issuance costs | $1.1B | $1.1B | ||
| Lease liabilities | $87.1M | $85.2M | ||
| Due to hotel managers | $109.6M | $121.7M | ||
| Liabilities of assets held for sale | $0 | $3.4M | ||
| Deferred rent | $77.4M | $73.5M | ||
| Unfavorable contract liabilities, net | $56.5M | $58.2M | ||
| Accounts payable and accrued expenses | $83.9M | $79.2M | ||
| Distributions declared and unpaid | $25.9M | $49.0M | $6.3M | |
| Deferred income related to key money, net | $7.4M | $7.7M | ||
| Total liabilities | $1.5B | $1.6B | ||
| Preferred stock, $0.01 par value; 10,000,000 shares authorized: 8.250% Series A Cumulative Redeemable Preferred Stock (liquidation preference $25.00 per share), no shares issued and outstanding at December 31, 2025; 4,760,000 shares issued and outstanding at December 31, 2024 | $0 | $48.0K | ||
| Common stock, $0.01 par value; 400,000,000 shares authorized; 203,703,182 and 207,592,210 shares issued and outstanding at December 31, 2025 and 2024, respectively | $2.0M | $2.1M | ||
| Additional paid-in capital | $2.1B | $2.3B | ||
| Accumulated other comprehensive loss | -$6.4M | -$1.4M | ||
| Distributions in excess of earnings | -$662.2M | -$679.0M | ||
| Total stockholders' equity | $1.4B | $1.6B | ||
| Noncontrolling interests | $9.2M | $8.7M | ||
| Total equity | $1.5B | $1.6B | $1.6B | $1.6B |
| Total liabilities and equity | $3.0B | $3.2B | ||
| Preferred stock, par value (in dollars per share) | $0.01 | $0.01 | ||
| Preferred stock, shares authorized (in shares) | 10.0M shares | 10.0M shares | ||
| Liquidation preference per share (in dollars per share) | $25 | $25 | ||
| Preferred stock, shares issued (in shares) | 0 shares | 4.8M shares | ||
| Preferred stock, shares outstanding (in shares) | 0 shares | 4.8M shares | ||
| Common stock, par value (in dollars per share) | $0.01 | $0.01 | ||
| Common stock, shares authorized (in shares) | 400.0M shares | 400.0M shares | ||
| Common stock, shares issued (in shares) | 203.7M shares | 207.6M shares | ||
| Common stock, shares outstanding (in shares) | 203.7M shares | 207.6M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.5
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net income | $101.9M | $48.2M | $86.6M |
| Depreciation and amortization | $113.1M | $113.6M | $111.3M |
| Corporate asset depreciation as corporate expenses | $204.0K | $121.0K | $192.0K |
| Loss on debt extinguishment | $5.8M | $0 | $0 |
| Non-cash lease expense and other amortization | $5.1M | $6.0M | $6.2M |
| Non-cash interest rate swap fair value adjustment | $0 | $0 | $2.0M |
| Amortization of debt issuance costs | $2.0M | $2.0M | $2.1M |
| Impairment losses | $1.1M | $34.2M | $941.0K |
| Amortization of deferred income related to key money | -$341.0K | -$431.0K | -$431.0K |
| Share-based compensation | $7.4M | $12.0M | $8.8M |
| Deferred income tax expense | -$2.9M | -$449.0K | -$975.0K |
| Prepaid expenses and other assets | $5.8M | -$3.9M | -$3.7M |
| Due to/from hotel managers | -$3.0M | $3.5M | $24.2M |
| Accounts payable and accrued expenses | $7.4M | $9.7M | $420.0K |
| Net cash provided by operating activities | $243.7M | $224.4M | $237.6M |
| Capital expenditures | -$81.6M | -$81.6M | -$86.3M |
| Property acquisitions | $0 | -$30.5M | -$32.7M |
| Net proceeds from sale of hotel property | $89.0M | $0 | $0 |
| Acquisition of interest in land | $0 | $0 | -$1.8M |
| Net cash provided by (used in) investing activities | $7.5M | -$112.1M | -$120.8M |
| Mortgage debt principal payments | -$295.8M | -$82.4M | -$9.5M |
| Repurchases of common stock | -$37.1M | -$26.0M | -$2.4M |
| Proceeds from senior unsecured term loan | $300.0M | $0 | $0 |
| Draws on senior unsecured credit facility | $60.0M | $0 | $0 |
| Repayments of senior unsecured credit facility | -$60.0M | $0 | $0 |
| Payment of financing costs | -$11.6M | $0 | $0 |
| Distributions on common stock and units | -$98.3M | -$25.6M | -$31.9M |
| Distributions on preferred stock | -$9.8M | -$9.8M | -$9.8M |
| Redemption of preferred stock | -$119.0M | $0 | $0 |
| Shares redeemed to satisfy tax withholdings on vested share-based compensation | -$5.1M | -$6.9M | -$3.0M |
| Net cash used in financing activities | -$276.7M | -$150.7M | -$56.7M |
| Net (decrease) increase in cash and cash equivalents, and restricted cash | -$25.6M | -$38.4M | $60.0M |
| Cash paid for interest | $58.8M | $63.8M | $60.4M |
| Cash paid for income taxes, net of refunds | $531.0K | $4.7M | $2.7M |
| Accrued capital expenditures | $2.5M | $5.4M | $4.7M |
| Redemption of Operating Partnership units for common stock | $0 | $0 | $365.0K |
No quarter-by-quarter statement was filed.
Corporate structure
DiamondRock Hospitality Co sits at the top of its group. 88 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of DiamondRock Hospitality Co
- VANGUARD CAPITAL MANAGEMENT LLC Filed SCHEDULE 13G on DiamondRock Hospitality Co, latest Apr 29, 2026
- VANGUARD GROUP INC Filed SCHEDULE 13G/A on DiamondRock Hospitality Co, latest Mar 26, 2026 (6 filings since Feb 9, 2022)
- VANGUARD PORTFOLIO MANAGEMENT LLC Filed SCHEDULE 13G on DiamondRock Hospitality Co, latest Feb 5, 2026
- BlackRock Filed SCHEDULE 13G/A on DiamondRock Hospitality Co, latest Apr 30, 2025 (5 filings since Jan 28, 2022)
- FMR LLC Filed SC 13G/A on DiamondRock Hospitality Co, latest Oct 7, 2024 (4 filings since Feb 9, 2022)
- State Street Corporation Filed SC 13G/A on DiamondRock Hospitality Co, latest Jan 30, 2024 (3 filings since Feb 10, 2022)
- Invesco Filed SC 13G/A on DiamondRock Hospitality Co, latest Jan 31, 2022
- DiamondRock Hospitality Co Bethesda, Maryland
- Bloodstone TRS, Inc. Subsidiary · Delaware, United States
- CPFB Holdings, LLC Subsidiary · Delaware, United States
- CPFB Owner, LLC Subsidiary · Delaware, United States
- CPFB Tenant, LLC Subsidiary · Delaware, United States
- DiamondRock Acquisition, LLC Subsidiary · Delaware, United States
- DiamondRock Alpharetta Owner, LLC Subsidiary · Delaware, United States
- DiamondRock Alpharetta Tenant, LLC Subsidiary · Delaware, United States
- DiamondRock AZ LA Owner, LLC Subsidiary · Delaware, United States
- DiamondRock AZ LA Tenant, LLC Subsidiary · Delaware, United States
- DiamondRock AZ OR Owner, LLC Subsidiary · Delaware, United States
- DiamondRock AZ OR Tenant, LLC Subsidiary · Delaware, United States
- DiamondRock Bethesda General, LLC Subsidiary · Delaware, United States
- DiamondRock Bethesda Limited, LLC Subsidiary · Delaware, United States
- DiamondRock Bethesda Owner Limited Partnership Subsidiary · Maryland, United States
- DiamondRock Bethesda Tenant, LLC Subsidiary · Delaware, United States
- DiamondRock Boston Broad Street Owner, LLC Subsidiary · Delaware, United States
- DiamondRock Boston Broad Street Tenant, LLC Subsidiary · Delaware, United States
- DiamondRock Boston Owner, LLC Subsidiary · Delaware, United States
- DiamondRock Boston Retail Owner, LLC Subsidiary · Delaware, United States
- DiamondRock Boston Tenant, LLC Subsidiary · Delaware, United States
- DiamondRock Burlington Owner, LLC Subsidiary · Delaware, United States
- DiamondRock Burlington Tenant, LLC Subsidiary · Delaware, United States
- DiamondRock Charleston Owner, LLC Subsidiary · Delaware, United States
- DiamondRock Charleston Tenant, LLC Subsidiary · Delaware, United States
- DiamondRock Cherry Creek Owner, LLC Subsidiary · Delaware, United States
- and 62 more
Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What DiamondRock Hospitality Co reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Property and equipment, before depreciation | $3.7B5 Dec 31, 2025 | $3.6B5 Dec 31, 2024 | +2.1% |
| Accumulated depreciation | $1.1B5 Dec 31, 2025 | $979.4M5 Dec 31, 2024 | +11.5% |
| Property and equipment, net | $2.6B5 Dec 31, 2025 | $2.6B5 Dec 31, 2024 | −1.3% |
| Finance-lease assets | $8.1M5 Dec 31, 2025 | $8.2M5 Dec 31, 2024 | −1.0% |
| Operating-lease assets (leased space) | $89.0M5 Dec 31, 2025 | $89.9M5 Dec 31, 2024 | −1.0% |
Real estate and locations
| Item | Latest | A year before | Change |
|---|---|---|---|
| Real estate investments, net | $2.5B5 Dec 31, 2025 | $2.6B9 Dec 31, 2024 | −4.0% |
| Real estate properties | 355 Dec 31, 2025 | 379 Dec 31, 2024 | −5.4% |
| Units in real estate properties | 9,5955 Dec 31, 2025 | 10,0049 Dec 31, 2024 | −4.1% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $68.1M5 Dec 31, 2025 | $81.4M5 Dec 31, 2024 | −16.3% |
Properties, in its own words
The following table sets forth certain information for each of our hotels owned as of December 31, 2025.
Hotel · City · State · Class (1) · Service Category · Rooms · Manager
The rest of Item 2
Chicago Marriott Downtown Magnificent Mile · Chicago · Illinois · Upper Upscale · Full Service · 1,200 · Marriott
Westin Boston Seaport District · Boston · Massachusetts · Upper Upscale · Full Service · 793 · Aimbridge Hospitality
Salt Lake City Marriott Downtown at City Creek · Salt Lake City · Utah · Upper Upscale · Full Service · 510 · HEI Hotels & Resorts
Worthington Renaissance Fort Worth Hotel · Fort Worth · Texas · Upper Upscale · Full Service · 504 · Marriott
Westin San Diego Bayview · San Diego · California · Upper Upscale · Full Service · 436 · Aimbridge Hospitality
Westin Fort Lauderdale Beach Resort · Fort Lauderdale · Florida · Upper Upscale · Full Service · 432 · HEI Hotels & Resorts
The Dagny Boston · Boston · Massachusetts · Luxury · Full Service · 403 · Aimbridge Hospitality
The Hythe Vail · Vail · Colorado · Luxury · Full Service · 344 · Vail Resorts
Courtyard New York Manhattan/Midtown East · New York · New York · Upscale · Select Service · 321 · HEI Hotels & Resorts (2)
Atlanta Marriott Alpharetta · Atlanta · Georgia · Upper Upscale · Full Service · 318 · Aimbridge Hospitality
The Gwen Hotel · Chicago · Illinois · Luxury · Full Service · 311 · HEI Hotels & Resorts
Hilton Garden Inn New York/Times Square Central · New York · New York · Upscale · Select Service · 282 · Highgate Hotels
Embassy Suites by Hilton Bethesda · Bethesda · Maryland · Upper Upscale · Full Service · 272 · Sage Hospitality
Hotel Champlain Burlington · Burlington · Vermont · Upper Upscale · Full Service · 258 · Aimbridge Hospitality
Henderson Beach Resort · Destin · Florida · Luxury · Full Service · 270 · Aimbridge Hospitality
AC Hotel Minneapolis Downtown · Minneapolis · Minnesota · Upscale · Select Service · 245 · Sage Hospitality
Kimpton Hotel Palomar Phoenix · Phoenix · Arizona · Upper Upscale · Full Service · 242 · IHG Hotels & Resorts
Bourbon Orleans Hotel · New Orleans · Louisiana · Luxury · Full Service · 220 · Aimbridge Hospitality
Hotel Clio · Denver · Colorado · Luxury · Full Service · 199 · Sage Hospitality
Courtyard New York Manhattan/Fifth Avenue · New York · New York · Upscale · Select Service · 189 · Highgate Hotels
Margaritaville Beach House Key West · Key West · Florida · Upper Upscale · Full Service · 186 · Ocean Properties
The Lodge at Sonoma Resort · Sonoma · California · Upper Upscale · Full Service · 182 · Sage Hospitality
Courtyard Denver Downtown · Denver · Colorado · Upscale · Select Service · 177 · Sage Hospitality
The Lindy Renaissance Charleston Hotel · Charleston · South Carolina · Upper Upscale · Full Service · 167 · Aimbridge Hospitality
L'Auberge de Sedona · Sedona · Arizona · Luxury · Full Service · 158 · Aimbridge Hospitality
Kimpton Shorebreak Huntington Beach Resort · Huntington Beach · California · Upper Upscale · Full Service · 157 · IHG Hotels & Resorts
Cavallo Point, The Lodge at the Golden Gate · Sausalito · California · Luxury · Full Service · 142 · Passport Resorts
Chico Hot Springs Resort & Day Spa · Pray · Montana · Upper Upscale · Full Service · 117 · EOS Hospitality
Havana Cabana Key West · Key West · Florida · Upper Upscale · Full Service · 106 · EOS Hospitality
Tranquility Bay Beachfront Resort · Marathon · Florida · Luxury · Full Service · 103 · EOS Hospitality
Hotel Emblem San Francisco · San Francisco · California · Upper Upscale · Full Service · 96 · Pacifica Hotels
Kimpton Shorebreak Fort Lauderdale Beach Resort · Fort Lauderdale · Florida · Upper Upscale · Full Service · 96 · HEI Hotels & Resorts
The Landing Lake Tahoe Resort & Spa · South Lake Tahoe · California · Luxury · Full Service · 82 · Aimbridge Hospitality
Lake Austin Spa Resort · Austin · Texas · Luxury · Full Service · 40 · EOS Hospitality
Henderson Park Inn · Destin · Florida · Luxury · Full Service · 37 · Aimbridge Hospitality
Total · 9,595
(1)As defined by STR, Inc.
(2)Effective February 3, 2026, we terminated the management agreement with HEI Hotels & Resorts and entered into a management agreement with Highgate Hotels.
Hotel Management Agreements
We are party to hotel management agreements for each hotel we own. The following table sets forth the expiration date of the current term, the terms of termination of the manager by the Company, and the number of remaining renewal terms at the manager's option under the respective hotel management agreements for each of our hotels as of December 31, 2025. Generally, the term of the hotel management agreements, if applicable, renew automatically for a negotiated number of consecutive periods upon the expiration of the initial term unless the manager gives notice to us of its election not to renew the hotel management agreement.
Property · Manager · Terminable · Expiration Date of Current Term · Number of Remaining Renewal Terms at Manager's Exclusive Option (1)
AC Hotel Minneapolis Downtown · Sage Hospitality · At will with no fee · 11/2029 · Five one-year periods
Atlanta Marriott Alpharetta · Aimbridge Hospitality · At will with no fee · 9/2030 · Month-to-month
Bourbon Orleans Hotel · Aimbridge Hospitality · At will with no fee · 7/2026 · Month-to-month
Cavallo Point, The Lodge at the Golden Gate · Passport Resorts · At will with fee · 6/2028 · None
Chicago Marriott Downtown Magnificent Mile · Marriott · No · 12/2038 · Two ten-year periods
Chico Hot Springs Resort & Day Spa · EOS Hospitality · At will with no fee · 8/2033 · Month-to-month
Courtyard Denver Downtown · Sage Hospitality · At will with no fee · 7/2026 · One five-year period
Courtyard New York Manhattan/Fifth Avenue · Highgate Hotels · At will with no fee · 9/2030 (2) · Month-to-month (2)
Courtyard New York Manhattan/Midtown East · HEI Hotels & Resorts (3) · At will with no fee · 8/2027 · None
Item 2 of the 10-K filed Feb 27, 2026.4
Leadership
Who has led DiamondRock Hospitality Co, and when. Pick a name to see everywhere that person has worked.
Chief financial officer
Chief operating officer
- Chief executive officerJeffrey Donnelly May 8, 2024 to now13
- Chief executive officerMark W. Brugger Sep 17, 2008 to Feb 29, 202414
- Chief executive officerWilliam W. McCarten Jan 24, 2006 to Aug 5, 200815
- ChairWilliam W. McCarten Jan 24, 2006 to Aug 6, 200915
- PresidentJustin L. Leonard May 8, 2024 to now16
- PresidentMark W. Brugger Oct 11, 2013 to Feb 29, 202417
- Chief financial officerBriony R. Quinn May 8, 2024 to now18
- Chief financial officerJeffrey Donnelly Aug 22, 2019 to Feb 29, 202419
- Chief financial officerSean M. Mahoney Sep 17, 2008 to Mar 5, 201820
- Chief financial officerMark W. Brugger Jan 24, 2006 to Aug 5, 200821
- Chief operating officerJustin L. Leonard Jul 27, 2022 to now22
- Chief operating officerThomas G. Healy Jan 25, 2017 to Mar 1, 202223
- Chief operating officerRobert Tanenbaum May 9, 2013 to Mar 1, 201624
Board members and other officers (22)
- Chief Accounting OfficerSteve Spierto May 21, 2024 to now25
- Chief Accounting OfficerBriony R. Quinn Mar 3, 2014 to Feb 29, 202426
- Chief Investment OfficerTroy Furbay Apr 11, 2014 to Feb 29, 202427
- Chief Accounting OfficerSean M. Mahoney Jan 24, 2006 to Aug 5, 200828
- Executive Vice President and CMark W. Brugger Apr 11, 2006 to Apr 11, 200629
- Board memberStephanie Lepori Jan 15, 2025 to now30
- Board memberJeffrey Donnelly May 8, 2024 to now13
- Board memberTabassum Zalotrawala May 20, 2021 to now31
- Board memberMichael A. Hartmeier Oct 7, 2020 to now32
- Board memberKathleen Wayton Feb 22, 2019 to now33
- Board memberWilliam Shaw Oct 5, 2016 to now34
- Board memberTimothy Chi Jul 28, 2015 to now35
- Board memberBruce D. Wardinski Jan 14, 2013 to now36
- Board memberWilliam W. McCarten Feb 29, 2008 to now37
- Board memberMark W. Brugger Sep 17, 2008 to Feb 29, 202414
- Board memberDaniel Joseph Altobello Jul 27, 2006 to May 16, 201838
- Board memberGilbert T. Ray Jul 27, 2006 to May 15, 202039
- Board memberMaureen L. McAvey Jul 27, 2006 to May 15, 202040
- Board memberW. Robert Grafton Jul 27, 2006 to Apr 13, 201641
- General counselAnika Fischer Jul 8, 2024 to now42
- General counselWilliam J. Tennis Jan 12, 2010 to May 8, 202443
- General counselMichael D. Schecter Jan 24, 2006 to Jan 5, 201044
Subsidiaries and ownership
Subsidiaries (Exhibit 21)
- Bloodstone TRS, Inc. Delaware3
- CPFB Holdings, LLC Delaware3
- CPFB Owner, LLC Delaware3
- CPFB Tenant, LLC Delaware3
- DRH Bourbon Owner, LLC Delaware3
- DRH Bourbon Tenant, LLC Delaware3
- DRH Chico Owner, LLC Delaware3
- DRH Chico Tenant, LLC Delaware3
- DRH HBR Owner, LLC Delaware3
- DRH HBR Tenant, LLC Delaware3
- DRH HPI Owner, LLC Delaware3
- DRH HPI Tenant, LLC Delaware3
- DRH Lake Austin Owner, LLC Delaware3
- DRH Lake Austin Tenant, LLC Delaware3
- DRH Riomar Owner, LLC Delaware3
- DRH Riomar Tenant, LLC Delaware3
- DRH Tranquility, LLC Delaware3
- DRH Worthington Owner General, LLC Delaware3
- DRH Worthington Owner Limited Partnership Delaware3
- DRH Worthington Owner Limited, LLC Delaware3
- DRH Worthington Tenant General, LLC Delaware3
- DRH Worthington Tenant Limited Partnership Delaware3
- DRH Worthington Tenant Limited, LLC Delaware3
- DiamondRock AZ LA Owner, LLC Delaware3
All 87 listed subsidiaries
- DiamondRock AZ LA Tenant, LLC Delaware3
- DiamondRock AZ OR Owner, LLC Delaware3
- DiamondRock AZ OR Tenant, LLC Delaware3
- DiamondRock Acquisition, LLC Delaware3
- DiamondRock Alpharetta Owner, LLC Delaware3
- DiamondRock Alpharetta Tenant, LLC Delaware3
- DiamondRock Bethesda General, LLC Delaware3
- DiamondRock Bethesda Limited, LLC Delaware3
- DiamondRock Bethesda Owner Limited Partnership Maryland3
- DiamondRock Bethesda Tenant, LLC Delaware3
- DiamondRock Boston Broad Street Owner, LLC Delaware3
- DiamondRock Boston Broad Street Tenant, LLC Delaware3
- DiamondRock Boston Owner, LLC Delaware3
- DiamondRock Boston Retail Owner, LLC Delaware3
- DiamondRock Boston Tenant, LLC Delaware3
- DiamondRock Burlington Owner, LLC Delaware3
- DiamondRock Burlington Tenant, LLC Delaware3
- DiamondRock Charleston Owner, LLC Delaware3
- DiamondRock Charleston Tenant, LLC Delaware3
- DiamondRock Cherry Creek Owner, LLC Delaware3
- DiamondRock Cherry Creek Tenant, LLC Delaware3
- DiamondRock Chicago Conrad Owner, LLC Delaware3
- DiamondRock Chicago Conrad Tenant, LLC Delaware3
- DiamondRock Chicago Owner, LLC Delaware3
- DiamondRock Chicago Tenant, LLC Delaware3
- DiamondRock DC Holdings, LLC Delaware3
- DiamondRock DC M Street Owner, LLC Delaware3
- DiamondRock DC M Street Tenant, LLC Delaware3
- DiamondRock Denver Downtown Owner, LLC Delaware3
- DiamondRock Denver Downtown Tenant, LLC Delaware3
- DiamondRock East 40th Street NYC Owner Holdings, LLC Delaware3
- DiamondRock East 40th Street NYC Owner, LLC Delaware3
- DiamondRock East 40th Street NYC Tenant, LLC Delaware3
- DiamondRock FL Owner, LLC Delaware3
- DiamondRock FL Tenant, LLC Delaware3
- DiamondRock Frenchman's Holdings, LLC Delaware3
- DiamondRock HB Owner, LLC Delaware3
- DiamondRock HB Tenant, LLC Delaware3
- DiamondRock Hospitality Limited Partnership Delaware3
- DiamondRock KW South Owner, LLC Delaware3
- DiamondRock KW South Tenant, LLC Delaware3
- DiamondRock Key West North Owner, LLC Delaware3
- DiamondRock Key West North Tenant, LLC Delaware3
- DiamondRock Manhattan/Midtown East Owner, LLC Delaware3
- DiamondRock Manhattan/Midtown East Tenant, LLC Delaware3
- DiamondRock Minnesota Owner, LLC Delaware3
- DiamondRock Minnesota Tenant, LLC Delaware3
- DiamondRock PHX Owner, LLC Delaware3
- DiamondRock PHX Tenant, LLC Delaware3
- DiamondRock SF Sutter Street Owner, LLC Delaware3
- DiamondRock SF Sutter Street Tenant, LLC Delaware3
- DiamondRock Salt Lake Owner, LLC Delaware3
- DiamondRock Salt Lake Tenant, LLC Delaware3
- DiamondRock San Diego Owner, LLC Delaware3
- DiamondRock San Diego Tenant, LLC Delaware3
- DiamondRock Sonoma Owner, LLC Delaware3
- DiamondRock Sonoma Tenant, LLC Delaware3
- DiamondRock Tahoe Owner, LLC Delaware3
- DiamondRock Tahoe Tenant, LLC Delaware3
- DiamondRock Times Square Owner, LLC Delaware3
- DiamondRock Times Square Tenant, LLC Delaware3
- DiamondRock Vail Owner, LLC Delaware3
- DiamondRock Vail Tenant, LLC Delaware3
The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.
Timeline
- Oct 8, 20268-K Regulation FD disclosure; Other events45
- Sep 10, 20268-K Regulation FD disclosure46
- Jul 30, 20268-K Results of operations47
- May 4, 20268-K Regulation FD disclosure; Other events48
- Apr 30, 20268-K Results of operations; Shareholder vote49
- Mar 2, 20268-K Regulation FD disclosure50
- Feb 26, 20268-K Results of operations51
- Feb 25, 20268-K Executive or director change; Regulation FD disclosure52
- Dec 8, 20258-K Regulation FD disclosure53
- Nov 20, 20258-K Regulation FD disclosure54
- Nov 13, 20258-K Listing notice or transfer55
- Nov 6, 20258-K Results of operations56
- May 8, 2024New chief executive Jeffrey Donnelly becomes CEO13
- Sep 17, 2008New chief executive Mark W. Brugger becomes CEO14
- Jan 24, 2006New chief executive William W. McCarten becomes CEO15
Calendar
Coming up
- Nov 3, 2026 · After the closeReports results for the quarter ending Sep/2026 A year earlier it reported $0.29 a share, on Nov 6, 2025.57
When it reported results
- Jul 30, 2026Reported quarterly or annual results47
- Apr 30, 2026Reported quarterly or annual results49
- Feb 26, 2026Reported quarterly or annual results51
- Nov 6, 2025Reported quarterly or annual results56
- Aug 7, 2025Reported quarterly or annual results58
- May 1, 2025Reported quarterly or annual results59
- Feb 27, 2025Reported quarterly or annual results60
- Nov 7, 2024Reported quarterly or annual results61
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
243 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 70 major events, 108 insider forms, 21 large holders, 24 other. The latest 20:
- Oct 8, 20268-K EDGAR
- Sep 10, 20268-K EDGAR
- Jul 30, 202610-Q EDGAR
- Jul 30, 20268-K EDGAR
- Jul 15, 20264 EDGAR
- Jun 16, 20264 EDGAR
- Jun 12, 2026144 EDGAR
- May 13, 2026144 EDGAR
- May 13, 20264 EDGAR
- May 5, 20264 EDGAR
- May 5, 20264 EDGAR
- May 5, 20264 EDGAR
- May 5, 20264 EDGAR
- May 5, 20264 EDGAR
- May 5, 20264 EDGAR
- May 5, 20264 EDGAR
- May 4, 20268-K EDGAR
- Apr 30, 202610-Q EDGAR
- Apr 30, 20268-K EDGAR
- Apr 29, 2026SCHEDULE 13G EDGAR
The 243 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
10 open-market trades by officers, directors and large owners since October 2021: 5 buys and 5 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Jul 14, 2026 | Lepori StephanieDirector | Buy | 111 | $12.08 | $1.3K | Form 4 |
| Jun 12, 2026 | Merrill KathleenDirector | Sale | 20,000 | $11.88 | $237.6K | Form 4 |
| May 13, 2026 | Hartmeier Michael A.Director | Sale | 20,000 | $10.46 | $209.2K | Form 4 |
| Apr 14, 2026 | Lepori StephanieDirector | Buy | 131 | $10.17 | $1.3K | Form 4 |
| Mar 3, 2026 | Spierto SteveSVP, Chief Accounting Officer | Sale | 4,000 | $9.93 | $39.7K | Form 4 |
| Jan 14, 2026 | Lepori StephanieDirector | Buy | 188 | $9.26 | $1.7K | Form 4 |
| Oct 14, 2025 | Lepori StephanieDirector | Buy | 154 | $7.51 | $1.2K | Form 4 |
| Mar 11, 2025 | Donnelly JeffreyChief Executive Officer | Buy | 10,000 | $7.98 | $79.8K | Form 4 |
| Feb 2, 2023 | Brugger Mark WPresident and CEO | Sale | 24,310 | $10.00 | $243.1K | Form 4 |
| Nov 8, 2021 | Tennis William JEVP & General Counsel | Sale | 30,000 | $10.90 | $327.0K | Form 4 |
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- VANGUARD CAPITAL MANAGEMENT LLCSCHEDULE 13G, 1 filing Apr 29, 202662
- VANGUARD GROUP INCSCHEDULE 13G/A, 6 filings Feb 9, 2022 to Mar 26, 202663
- VANGUARD PORTFOLIO MANAGEMENT LLCSCHEDULE 13G, 1 filing Feb 5, 202664
- BlackRockSCHEDULE 13G/A, 5 filings Jan 28, 2022 to Apr 30, 202565
- FMR LLCSC 13G/A, 4 filings Feb 9, 2022 to Oct 7, 202466
- State Street CorporationSC 13G/A, 3 filings Feb 10, 2022 to Jan 30, 202467
- InvescoSC 13G/A, 1 filing Jan 31, 202268
Executive pay
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
| Year | Executive | Age | Salary | Total pay |
|---|---|---|---|---|
| 2025 | Jeffrey J. DonnellyChief Executive Officer | 55 | $750.0K | $6.4M69 |
| 2025 | Justin L. LeonardPresident and Chief Operating Officer | 48 | $650.0K | $4.1M69 |
| 2025 | Briony R. QuinnExecutive Vice President, Chief Financial Officer and Treasurer | 53 | $500.0K | $2.5M69 |
| 2025 | Anika C. FischerSenior Vice President, General Counsel and Corporate Secretary | 37 | $425.0K | $1.4M69 |
| 2024 | Jeffrey J. DonnellyChief Executive Officer | 55 | $656.2K | $4.9M69 |
| 2024 | Justin L. LeonardPresident and Chief Operating Officer | 48 | $562.5K | $3.3M69 |
| 2024 | Briony R. QuinnExecutive Vice President, Chief Financial Officer and Treasurer | 53 | $435.4K | $2.1M69 |
| 2024 | Anika C. FischerSenior Vice President, General Counsel and Corporate Secretary | 37 | $218.8K | $931.7K69 |
| 2023 | Jeffrey J. DonnellyChief Executive Officer | 55 | $511.7K | $2.1M69 |
| 2023 | Justin L. LeonardPresident and Chief Operating Officer | 48 | $511.7K | $1.9M69 |
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| BlackRock, Inc. | 39,021,507 | $475.3M | 0.0% | +1,449,607 |
| Vanguard Portfolio Management LLC | 24,340,017 | $296.5M | 0.0% | +787,653 |
| State Street Corp | 12,144,765 | $149.0M | 0.0% | +27,964 |
| Bank Of America Corp /de/ | 10,649,401 | $129.7M | 0.0% | +1,662,063 |
| Vanguard Capital Management LLC | 9,214,336 | $112.2M | 0.0% | +46,804 |
| Centersquare Investment Management LLC | 7,262,068 | $88.5M | 0.8% | +825,004 |
| Alyeska Investment Group, L.P. | 6,210,713 | $75.6M | 0.2% | −1,875,966 |
| Geode Capital Management, LLC | 6,204,786 | $75.6M | 0.0% | +303,620 |
| UBS Group AG | 4,756,610 | $57.9M | 0.0% | −950,602 |
| Charles Schwab Investment Management Inc | 4,731,546 | $57.6M | 0.0% | −663,410 |
| Nomura Asset Management International Inc. | 4,705,671 | $57.3M | 0.1% | +27,370 |
| Jpmorgan Chase & Co | 4,413,797 | $54.2M | 0.0% | +124,788 |
| Northern Trust Corp | 3,074,740 | $37.5M | 0.0% | +246,986 |
| Dimensional Fund Advisors LP | 3,070,247 | $37.4M | 0.0% | +98,076 |
| Pzena Investment Management LLC | 2,829,560 | $34.5M | 0.1% | −5,019 |
| Morgan Stanley | 2,639,559 | $32.1M | 0.0% | +76,932 |
| Goldman Sachs Group Inc | 2,626,234 | $32.0M | 0.0% | +1,771,734 |
| Heitman Real Estate Securities LLC | 2,441,779 | $29.7M | 1.9% | −232,770 |
| Healthcare Of Ontario Pension Plan Trust Fund | 2,385,575 | $29.1M | 0.0% | +214,125 |
| Arrowstreet Capital, Limited Partnership | 2,306,701 | $28.1M | 0.0% | −105,351 |
| Two Sigma Investments, LP | 2,199,237 | $26.8M | 0.0% | +617,498 |
| Aqr Capital Management LLC | 2,156,605 | $26.3M | 0.0% | −17,021 |
| Victory Capital Management Inc | 2,095,690 | $25.5M | 0.0% | +17,461 |
| Ameriprise Financial Inc | 1,894,841 | $23.1M | 0.0% | +384,929 |
| Schroder Investment Management Group | 1,824,494 | $22.2M | 0.0% | −275,956 |
13F reports cover disclosed long positions in U.S. stocks only.
Members of Congress who traded it
1 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.
| Date | Member | Trade | Amount | Vs S&P since | Filing |
|---|---|---|---|---|---|
| Jul 12, 2023 | Daniel S. GoldmanDemocratic, House | Sale | $1,001 - $15,000 | +9.6% | Report |
Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).
SEC filer profile
How DiamondRock Hospitality Co is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARDiamondRock Hospitality Co1
- CIK0001298946
- Employer ID (EIN)20-11800984
- Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company4
- Incorporated inMaryland4
- Fiscal year endsDecember 311
- Industry code (SIC)6798 Real Estate Investment Trusts1
- SEC reviewing officeOffice of Real Estate & Construction, Division of Corporation Finance1
- Business address7373 Wisconsin Avenue, Suite 1900, Bethesda, MD1
- Phone240-744-11501
- Shares outstanding204,605,681 as of Jul 30, 202611
- Public float$1.6B as of Jun 30, 20254
- AuditorKPMG LLP, McLean, Virginia PCAOB ID 185; it also attests to the company’s internal control over financial reporting4
- On EDGAR sinceJul 27, 20041
- Filings1,427 in all: 4 (680), 8-K (307), SC 13G/A (97), 10-Q (64), SC 13G (36), 3 (27), 4/A (27), 10-K (21)1
All 43 form types
DEF 14A (21), 424B5 (20), UPLOAD (16), 8-K/A (12), CORRESP (12), S-11/A (10), DEFA14A (8), S-3ASR (8), 424B3 (5), ARS (5), S-8 (5), POS AM (4), S-11 (4), SCHEDULE 13G/A (4), 10-Q/A (3), 144 (3), 8-A12B (3), 424B2 (2), 424B4 (2), CERT (2), EFFECT (2), POSASR (2), PRE 14A (2), SCHEDULE 13G (2), 25 (1), 25-NSE (1), 3/A (1), 424B7 (1), 5 (1), CERTNYS (1), DEFR14A (1), FWP (1), REGDEX (1), S-3 (1), S-3/A (1)
- Latest filingsAnnual report (10-K) Feb 27, 2026
Quarterly report (10-Q) Jul 30, 2026
Proxy statement (DEF 14A) Mar 16, 2026
Latest 8-K (8-K) Oct 8, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Common Stock, $0.01 par value | DRH | The Nasdaq Stock Market LLC |
From the cover page of the 10-K filed Feb 27, 2026 (Section 12(b) of the Exchange Act).4
Risk factors and legal proceedings
The risks DiamondRock Hospitality Co names in Item 1A of its 10-K filed Feb 27, 2026: 61 risks under these headings, as written.4
- Risks Related to Our Business and Operations
- Our business model, especially our concentration in premium full-service hotels, can be highly volatile.
- Economic conditions and other factors beyond our control may adversely affect the lodging industry.
- Our hotels are subject to significant competition.
- Our hotels are subject to seasonal volatility, which is expected to contribute to fluctuations in our financial condition and results of operations.
- The increase in the use of third-party internet travel intermediaries and the increase in alternative lodging channels, such as Airbnb, could adversely affect our profitability.
- The increased use of business-related technology may materially and adversely affect the need for business-related travel, and, therefore, demand for rooms in some of our hotels.
- Investments in hotels are illiquid and we may not be able to respond in a timely fashion to adverse changes in the performance of our properties.
- Due to restrictions in our hotel management agreements, franchise agreements, mortgage agreements, if any, and ground leases, we may not be able to sell our hotels at the highest possible price, or at all.
- Certain of our current hotel management and franchise agreements are long-term.
- Our ground leases contain certain provisions that may limit our ability to sell our hotels.
- We may be subject to unknown or contingent liabilities related to recently sold or acquired hotels, as well as hotels that we may sell or acquire in the future.
The other 50 risks
- We are subject to risks associated with our ongoing need for renovations and capital improvements as well as financing for such expenditures.
- Any future pandemic, epidemic or outbreak of any highly infectious disease could cause widespread disruptions in the U.S., regional and global economies, travel and the hospitality industry and could materially and adversely impact our business, financial condition and results of operations.
- Our hotels are subject to risks from natural disasters, climate change, terrorism, pandemics, and other catastrophic events, which may not be fully covered by insurance and could materially adversely affect our business.
- We and our hotel managers rely on information technology in our operations and any material failures, inadequacies, interruptions, security failures, or cybersecurity incidents could harm our business.
- Our results of operations are highly dependent on the management of our hotel properties by third-party hotel management companies.
- We may be unable to maintain good relationships with third-party hotel managers and franchisors.
- Several of our hotels are operated under franchise agreements and we are subject to the risks associated with the franchise brand and the costs associated with maintaining the franchise license.
- Contractual and other disagreements with third-party hotel managers and franchisors could make us liable to them or result in litigation costs or other expenses.
- Our business may be adversely affected by consolidation in the lodging industry.
- Our ownership of properties through ground leases exposes us to the risks that we may have difficulty financing such properties, be forced to sell such properties for a lower price, are unable to extend the ground leases at maturity or lose such properties upon breach or termination of the ground leases.
- We face competition for hotel acquisitions and investments, and we may not be successful in identifying or completing hotel acquisitions and investments that meet our criteria, which may impede our growth.
- Even if we successfully complete hotel acquisitions, there can be no assurance that we will be able to successfully integrate the hotels we acquire into our existing operations or otherwise realize the expected benefits of these acquisitions.
- Many of our costs, such as operating expenses, interest expense and acquisition and renovation costs, remain elevated and could be adversely impacted by periods of heightened inflation.
- We are subject to risks related to hotel labor, including unionized labor, labor disputes, labor shortages and other labor activity, which could adversely affect our business.
- Actions by federal, state or local jurisdictions could have a material adverse effect on our business.
- Our use of or failure to adopt advancements in information technology, such as artificial intelligence, may hinder or prevent us from achieving strategic objectives or otherwise harm our business.
- Risks Related to Our Debt and Financing
- Our credit facility and term loans contain financial covenants that may constrain our ability to sell assets and make distributions to our stockholders.
- There is refinancing risk associated with our debt.
- Future debt service obligations may adversely affect our operating results, require us to liquidate our properties, jeopardize our ability to make cash distributions necessary to maintain our tax status as a REIT and limit our ability to make distributions to our stockholders.
- Increases in interest rates may increase our interest expense.
- Hedging against interest rate exposure may adversely affect us.
- Risks Related to Regulation and the Environment
- Noncompliance with governmental regulations could adversely affect our operating results.
- Environmental matters.
- Climate change
- Americans with Disabilities Act and other changes in governmental rules and regulations.
- Our hotel properties may contain or develop harmful mold, which could lead to liability for adverse health effects and costs of remediating the problem.
- Risks Related to Our Status as a REIT
- We cannot assure you that we will remain qualified as a REIT.
- Maintaining our REIT qualification contains certain restrictions and drawbacks.
- Complying with REIT requirements may cause us to forgo otherwise attractive opportunities.
- To qualify as a REIT, we must meet annual distribution requirements.
- Our ownership of our TRSs and TRS lessees increases our overall tax liability.
- If the leases of our hotels to our TRS lessees are not respected as true leases for U.S. federal income tax purposes, we will fail to qualify as a REIT.
- If any third-party hotel managers do not qualify as “eligible independent contractors” or if our hotels are not “qualified lodging facilities,” we will fail to qualify as a REIT.
- You may be restricted from transferring our common stock.
- Even if we maintain our status as a REIT, in certain circumstances, we may be subject to U.S. federal and state income taxes, which would reduce our cash available for distribution to our stockholders.
- Our property taxes could increase due to property tax rate changes or reassessment, which could impact our cash flow.
- Dividends payable by REITs generally do not qualify for reduced tax rates.
- Failure of our operating partnership to be taxable as a partnership could cause us to fail to qualify as a REIT and we could suffer other adverse tax consequences.
- Legislative or regulatory action could adversely affect our stockholders.
- Risks Related to Our Organization and Structure
- Provisions of our charter may limit the ability of a third party to acquire control of our company.
- Certain advance notice provisions of our bylaws may limit the ability of a third party to acquire control of our company.
- Stockholders have limited control over any changes that we make to our policies.
- Our success depends on senior executive officers whose continued service is not guaranteed, and changes in our senior executive officers may adversely affect the operation of our business.
- We have entered into an agreement with each of our senior executive officers that provides each of them benefits in the event that his or her employment is terminated by us without cause, by him or her for good reason or under certain circumstances following a change of control of our company.
- We may be unable to generate sufficient cash flows from our operations to make distributions to our stockholders at expected levels, and we cannot assure you of our ability to make distributions in the future.
- Changes in market conditions could adversely affect the market price of our common stock.
- We may be subject to litigation, which could have a material adverse effect on our financial condition, results of operations, cash flow and trading price of our common stock.
- Future issuances of our common stock or our operating partnership’s common OP units, may depress the market price of our common stock and have a dilutive effect on our existing stockholders.
- Future offerings of debt securities or preferred stock, which would be senior to our common stock upon liquidation and for the purpose of distributions, may cause the market price of our common stock to decline.
- We cannot guarantee that we will repurchase our common stock pursuant to our share repurchase program or that our share repurchase program will enhance long-term stockholder value. Share repurchases could also increase the volatility of the price of our common stock and could diminish our cash reserves.
- Our UPREIT structure may result in potential conflicts of interest with limited partners in our operating partnership whose interests may not be aligned with those of our stockholders.
Legal proceedings
Litigation
We are subject to various claims, lawsuits and legal proceedings, including routine litigation arising in the ordinary course of business, regarding the operation of our hotels and Company matters. While it is not possible to ascertain the ultimate outcome of such matters, management believes that the aggregate amount of such liabilities, if any, in excess of amounts covered by insurance, will not have a material adverse impact on our financial condition or results of operations. The outcome of claims, lawsuits and legal proceedings brought against the Company, however, is subject to significant uncertainties.
The opening of Item 3, Legal Proceedings.4
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 16SEC EDGARJustin L. Leonard, President
- 17SEC EDGARMark W. Brugger, President
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- 30SEC EDGARStephanie Lepori, Board member
- 31SEC EDGARTabassum Zalotrawala, Board member
- 32SEC EDGARMichael A. Hartmeier, Board member
- 33SEC EDGARKathleen Wayton, Board member
- 34SEC EDGARWilliam Shaw, Board member
- 35SEC EDGARTimothy Chi, Board member
- 36SEC EDGARBruce D. Wardinski, Board member
- 37SEC EDGARWilliam W. McCarten, Board member
- 38
- 39SEC EDGARGilbert T. Ray, Board member
- 40SEC EDGARMaureen L. McAvey, Board member
- 41SEC EDGARW. Robert Grafton, Board member
- 42SEC EDGARAnika Fischer, General counsel
- 43SEC EDGARWilliam J. Tennis, General counsel
- 44SEC EDGARMichael D. Schecter, General counsel
- 45
- 46SEC EDGARRegulation FD disclosure
- 47SEC EDGARResults of operations
- 48
- 49
- 50SEC EDGARRegulation FD disclosure
- 51SEC EDGARResults of operations
- 52
- 53SEC EDGARRegulation FD disclosure
- 54SEC EDGARRegulation FD disclosure
- 55SEC EDGARListing notice or transfer
- 56SEC EDGARResults of operations
- 57NasdaqNasdaq calendar
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