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Diamondrock Hospitality Company

#4882

Rank

$1.66B

Marketcap

US United States

Country

Diamondrock Hospitality Company
Leadership team

Mr. Mark W. Brugger (Co-Founder, Pres, CEO & Director)

Mr. Jeffrey John Donnelly C.F.A. (Exec. VP & CFO)

Mr. Troy G. Furbay (Exec. VP & Chief Investment Officer)

Products/ Services
Hospitality, Leisure, Lending, Real Estate, Real Estate Investment
Headquarters
Bethesda, Maryland, United States
Established
1927
Company Registration
SEC CIK number: 0001298946
Net Income
20M - 100M
Revenue
500M - 1B
Traded as
DRH
Overview
Location
Summary
DiamondRock Hospitality Company is a self-advised real estate investment trust (REIT) that is an owner of a leading portfolio of geographically diversified hotels concentrated in top gateway markets and destination resort locations. The Company owns 31 premium quality hotels with over 10,000 rooms. The Company has strategically positioned its hotels to be operated both under leading global brand families as well as unique boutique hotels in the lifestyle segment.
History

Diamond Resorts launched the Diamond Resorts Invitational in 2013 to benefit Florida Hospital for Children. Through the golf tournament, the company has raised a total of more than $3.1 million to the children's hospital. In March 2018, the company announced it was sponsoring a new golf tournament, the Diamond Resorts Tournament of Champions, with the LPGA as an official season event.In October 2015, DRI bought out Gold Key Resorts for $167.5 million. This acquisition added five vacation ownership resorts in Virginia Beach, Virginia, and one in the Outer Banks, North Carolina. That same month, Diamond Resorts pledged to match all new donations made to the Diamond Resorts International Foundation, a recognized 501 organization, in 2017 up to $1 million to support Hurricane Irma relief efforts.Diamond Resorts acquired Intrawest Resort Club Group in November 2015, adding nine resorts and 22,000 members. After the acquisition, Diamond Resorts re-branded the Intrawest Resort Club Group as Embarc Resorts.On June 29, 2016, Apollo Global Management made a successful offer to purchase Diamond Resorts International.On December 23, 2016 Arizona Attorney General Mark Brnovich announced a settlement of $800,000 with Diamond Resorts. As part of the settlement, customers who bought their timeshares under false pretenses could relinquish them.Michael Flaskey was named chief executive officer of the company in March 2017.On January 18, 2018, the company underwent a brand refresh, updating its logo and officially dropping International from its name to be known as Diamond Resorts.Diamond Resorts announced in March 2018 that the company was partnering with the LPGA to launch the Diamond Resorts Tournament of Champions. The tournament begins the LPGA's 2019 season and features tournament winners from the previous two LPGA seasons, along with celebrity participants. The Diamond Resorts Tournament of Champions replaces the golf tournament the company previously sponsored, the Diamond Resorts Invitational.

That same month, acquired Amber Vacation Club in March 2018 and will assume operations at Amber's managed resorts, Sunrise Ridge Resort in Pigeon Forge, Tennessee and Alhambra Villas and Alhambra at Poinciana in Kissimmee, Florida.In April 2018, Diamond Resorts announced it had acquired The Modern Honolulu, a boutique hotel in Honolulu, Hawaii.In January 2020, Diamond Resorts partnered with Highgate to rent units in two properties in New York City.In March 2021, Apollo Global agreed to sell Diamond Resorts to Hilton Grand Vacations for $1.4 billion. The acquisition was completed on August 2, 2021.

Mission
Our mission is to provide high-quality lodging experiences with an emphasis on quality and customer service to create value for our shareholders.
Vision
Our vision is to be the premier lodging real estate investment trust, utilizing our asset management capabilities to maximize rental revenues, increase occupancies, and reduce costs in order to increase shareholder value.
Key Team

Mr. William J. Tennis (Exec. VP, Gen. Counsel & Corp. Sec.)

Mr. Justin L. Leonard (Exec. VP & COO)

Mr. Dustin Resnick (VP of Acquisitions and Investments)

Ms. Briony R. Quinn CPA (Sr. VP & Treasurer)

Mr. Ben Nelson (VP & Corp. Controller)

Recognition and Awards
Diamondrock Hospitality Company has been awarded the J.D. Power Award for guest satisfaction and the AAA Five Diamond Award multiple times.
References

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Diamondrock Hospitality Company
Leadership team

Mr. Mark W. Brugger (Co-Founder, Pres, CEO & Director)

Mr. Jeffrey John Donnelly C.F.A. (Exec. VP & CFO)

Mr. Troy G. Furbay (Exec. VP & Chief Investment Officer)

Products/ Services
Hospitality, Leisure, Lending, Real Estate, Real Estate Investment
Headquarters
Bethesda, Maryland, United States
Established
1927
Company Registration
SEC CIK number: 0001298946
Net Income
20M - 100M
Revenue
500M - 1B
Traded as
DRH