Diamondrock Hospitality Company · NASDAQ:DRH
Diamondrock Hospitality — Investor Presentation (January 2024)
10 slides from Diamondrock Hospitality's investor presentation, Jan 22, 2024
Slide 1: Investor Presentation January 2024
INVESTOR PRESENTATION JANUARY 2024 TRANQUILITY BAY BEACHFRONT RESORT
Slide 2: Forward Looking Statements & Use of Non-GAAP Financial Measures
FORWARD LOOKING STATEMENTS & USE OF NON-GAAP FINANCIAL MEASURES FORWARD LOOKING STATEMENTS Certain statements made during this presentation are forward-looking statements that are subject to risks and uncertainties. Forward-looking statements generally include the words “believe,” “expect,” “anticip
Slide 3: Operations Update: Q4 and 2023 Preliminary Results
OPERATIONS UPDATE Q4 AND 2023 PRELIMINARY RESULTS Margaritaville Beach House Key West Another DRH Record: 2023 Comparable Total Revenue Up 4.0% vs 2022 and Up 11.3% vs 2019 2023 Comparable RevPAR Up 3.1% vs 2022 and Up 8.7% vs 2019 Q4 Comparable Results: • Revenue: +0.4% vs 2022 and +10.0% vs 2019 •
Slide 4: DiamondRock at a Glance
DIAMONDROCK AT A GLANCE DIVERSIFIED GEOGRAPHY DIVERSIFIED PROPERTIES FINANCIAL SUMMARY Net Debt2 to TTM EBITDA Total Debt1 $1.2B 3.8x Total Debt to Gross Book Value 29% TTM Revenue $1.1B TTM Corporate Adj. EBITDA $282MM Q3 2023 PORTFOLIO 9,742 36 25 ROOMS GEOGRAPHIC MARKETS PROPERTIES 3. 2022 EBITDA
Slide 5: Well Positioned Portfolio: Leisure as a Long-Term Secular Driver
24 Hotels 4,330 Keys 57% of Portfolio by Revenue 15 Independent Hotels 100% Unencumbered by Management WELL POSITIONED PORTFOLIO: LEISURE AS A LONG-TERM SECULAR DRIVER LUXURY & LIFESTYLE RESORTS URBAN LIFESTYLE HOTELS SAUSALITO, CA L’AUBERGE DE SEDONA THE LANDING RESORT AND SPA SEDONA, AZ SONOMA, CA
Slide 6: Well Positioned Portfolio: Group and Urban Demand Recovery
COURTYARD MANHATTAN/FIFTH AVENUE COURTYARD MANHATTAN/MIDTOWN EASTHILTON GARDEN TIMES SQUARE CENTRAL 4 Hotels 969 Keys 9% of Portfolio by Revenue 100% Unencumbered by Management WELL POSITIONED PORTFOLIO: GROUP AND URBAN DEMAND RECOVERY 6 Hotels 3,853 Keys 31% of Portfolio by Revenue Strong Conventio
Slide 7: ROI Case Studies - The Dagny
ROI CASE STUDIES - THE DAGNY • Completion: August 1, 2023 • Total Cost: $32MM • Increase Cost over Hilton Renovation: $5MM • Incremental NOI for Independent hotel: $1MM • Exit value increase: $14MM-30MM (50-100 bps on cap rate) +36% +83% REVPAR EBITDA ($MM) $9.2 $16.8 2023F 2027F $211 $287 2023F 202
Slide 8: 2024 ROI Projects in Progress
2024 ROI PROJECTS IN PROGRESS Conversion to Curio brand and a new chef-driven restaurant • Est. Completion: Summer 2024 • Total Cost: $8.6MM • Stabilized Yield on Cost: 10% • Adds an additional lifestyle hotel to the portfolio • Expected to enhance exit value Repositioning and rebranding the hotel t
Slide 9: Potential Longer Term Capital Projects
POTENTIAL LONGER TERM CAPITAL PROJECTS Courtyard Denver Downtown 9 The Westin Boston Seaport District Exploring Adding More Waterfront Guest Rooms Repositioning to Integrate with L’Auberge de Sedona Franchise Expiration in 2027 Potential Upbranding and Expansion Franchise Expiration in 2026 Value Cr
Slide 10: ESG Accomplishments – GRESB Results
ESG ACCOMPLISHMENTS – GRESB RESULTS GRESB ANNUAL RESULTS VS PEER GROUP 2017 2018 2019 2020 2021 2022 2023 DRH GRESB Score 53 75 81 84 86 82 85 Peer Score Average 57 58 69 69 72 65 77 Index to Peer Score Average 93% 129% 117% 122% 119% 126% 110% 2023 DRH GRESB SCORE & RECOGNITION 4th Consecutive Year
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