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DIAMONDROCK HOSPITALITY COMPANY REPORTS SECOND QUARTER 2025 RESULTS
Completed $1.5 Billion Refinancing, No Debt Maturities Until 2028 Repurchased 3.6 Million Common Shares Year To Date Increasing Midpoint of 2025 Adjusted
About this update from Diamondrock Hospitality Company
[{"type":"text","content":"Completed $1.5 Billion Refinancing, No Debt Maturities Until 2028\nRepurchased 3.6 Million Common Shares Year To Date\nIncreasing Midpoint of 2025 Adjusted EBITDA and FFO Per Share Guidance\nBETHESDA, Md., Aug. 7, 2025 /PRNewswire/ -- DiamondRock Hospitality Company (the \"Company\") (NYSE: DRH), a lodging real estate investment trust that owns a portfolio of 36 premium hotels and resorts in the United States, today announced results of operations for the quarter ended June 30, 2025.\n\n \n \n \n \n \n \n\n \nHIGHLIGHTS\nNet Income: Net income attributable to common stockholders was $38.4 million, or $0.18 per diluted share, an increase of 73.8% compared to the second quarter of 2024.Comparable RevPAR: $226.95, an increase of 0.1% compared to the second quarter of 2024, which was in line with expectations.Comparable Total RevPAR: $350.00, an increase of 1.1% compared to the second quarter of 2024, which was stronger than expected with a 3.1% increase in out-of-room revenues.Comparable Hotel Adjusted EBITDA: $95.4 million, a decrease of 1.9% compared to the second quarter of 2024.Comparable Hotel Adjusted EBITDA Margin: 31.19%, a decrease of 97 basis points compared to the second quarter of 2024.Adjusted EBITDA: $90.5 million, a decrease of 4.7% to the second quarter of 2024.Adjusted FFO per Share: $0.35, which is flat to the second quarter of 2024.Debt Refinancing: On July 22, 2025, the Company completed a $1.5 billion refinancing of its senior unsecured credit facility, increasing its size, funding all near-term debt maturities, and extending its maturity schedule.Share Repurchases: Year-to-date through August 7, 2025, the Company has repurchased 3.6 million shares of its common stock at a weighted average price of $7.64 per share for total consideration of approximately $27.3 million.\"RevPAR in the second quarter was in line with our expectations, with demand down modestly and rates up compared to the same time last year. Out-of-room spend accelerated from levels experienced in the first quarter, and that trend has continued into the third quarter. Excluding a larger than anticipated property tax increase in Chicago, we were able to limit expense growth to just 0.7%. Comparable Hotel Adjusted EBITDA margins contracted 97 basis points, but excluding the impact of the Chicago property tax increase, margins expanded by an impres...