Diamondrock Hospitality Company (DRH) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day, and thank you for standing by. Welcome to the Diamond Rock Hospitality Company third quarter 2025 earnings conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there'll be a question and answer session. To ask a question during the session, you'll need to press star 11 on your telephone. You will then hear an automated message advising your hand is raised. To answer a question, please press star 11 again. Please be advised that today's conference is being recorded. I would now like to turn the conference over to Brani Quinn. Please go ahead. Good morning, everyone, and welcome to Diamond Rock's Third Quarter 2025 Earnings Call and Webcast. Joining me today is Jess Donnelly, our Chief Executive Officer, and Justin Leonard, our President and Chief Operating Officer. Before we begin, let me remind everyone that many of our comments today are not historical facts and are considered to be forward-looking statements under federal securities laws. As described in our filings with the SEC, these statements are subject to numerous risks and uncertainties that could cause future results to differ materially from what we discussed today. In addition, on today's call, we will discuss certain non-GAAP financial information. A reconciliation of this information to the most directly comparable GAAP financial measure can be found in our earnings press release. Turning to our results, corporate adjusted EBITDA in the third quarter was $79.1 million and adjusted FFO per share was $0.29, each ahead of our expectations. Free cash flow per share for the trailing 12 months, defined as adjusted FFO less CapEx, increased approximately 4% to 66 sets per share. Comparable RESPAR declined 0.3%, exceeding our expectation of a low...