DiamondRock Hospitality Results
Diamondrock Hospitality Company Reports Second Quarter Results
Achieves Record Revenues and Profits - Reinstates Quarterly Common Dividend
Achieves Record Revenues and Profits - Reinstates Quarterly Common Dividend
Full Year 2021 comparable total revenues were $611.7 million, which represents a 33.5% decline from the comparable period of 2019.
Significantly Improves Cash Burn Rate - Bolsters Liquidity to $434.5 Million
Comparable total revenues decreased 92.1% from the comparable period of 2019. RevPAR decreased 92.8% from the comparable period of 2019.
Hotel Adjusted EBITDA margin was 31.70%, a decrease of 115 basis points from the comparable period of 2016. Comparable hotel operating expenses increased approximately 1.6% from 2016.
RevPAR was $203.21, a 2.0% increase from the comparable period of 2016
2016 Operating Highlights - Net Income: Net income was $114.8 million and earnings per diluted share was $0.57. Comparable RevPAR: RevPAR was $179.69, a 0.2% decrease from 2015. Comparable Hotel Adjusted EBITDA Margin: Hotel Adjusted EBITDA margin was 31.81%, an increase of 15 basis points from 2015.
Adjusted EBITDA was $65.6 million, a decrease of $3.7 million or 5.3% from 2015. Adjusted EBITDA for the comparable period of 2015 included $6.8 million of Adjusted EBITDA from the three non-core hotels that were sold in 2016.
Hotel Adjusted EBITDA margin was 26.42%, an increase of 14 basis points from the comparable period of 2015.
Increases Full Year Guidance To Reflect Key West Acquisition