The combined purchase price for the two hotels is $108.6 million . 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. "Since that pivot, we have completed more than $1 billion in transactions to assemble a portfolio that today defines DiamondRock. The Company is also announcing the signing of a new financing note with DiamondRock LLC. This strategically designed capital structure enables funding for attractive acquisitions, sustainable dividends, share repurchases during price dislocations, and late-cycle capital needs throughout the lodging cycle. The Hotel recently reopened and is expected to generate approximately . Mr. Brugger co-founded the Company in 2004 and successfully led its initial public offering (IPO) on the New York Stock Exchange the following year. Diversity, Equity & Inclusion, Collaborator and Innovator, Continuous Learner, Growth Mindset He earned a B.B.A. PRESIDENT, CHIEF EXECUTIVE OFFICER AND DIRECTOR, EXECUTIVE VICE PRESIDENT AND CHIEF FINANCIAL OFFICER, EXECUTIVE VICE PRESIDENT AND CHIEF INVESTMENT OFFICER. CGAC Over the five years from 2015-2019, Tranquility Bay generated an average annual NOI of approximately $4.5 million, representing a capitalization rate of 7.0% on the Company's purchase price. Florida Blue. DIAMONDROCK LLC (DOS ID: 4784337) was incorporated on 07/03/2015 in New York. Neil Rock Profiles in CA, CO, FL, NC, NY, OH, and TX - Bizapedia Today, the Hotel offers guests all the rich legacy of a historic building without having to comprise on modern amenities or services. Prior to DiamondRock, Ms. Quinn was the Vice President of Finance and Accounting for Meristar Hospitality Corporation, a publicly-traded lodging real estate investment trust. "These investments cap off an active year where DiamondRock recycled $220 million from low-yield, encumbered, capital-intensive properties into $293 million of high-quality, unencumbered, independent hotels and resorts. Mr. Leonard holds a B.B.A. The company also trades at a discount to peers in several other categories, including Price/Rental Revenue and EV/EBITDA, which are two important measures to consider when investing in a REIT. DiamondRock ranked as the 23rd "cheapest" REIT on a price-to-FFO basis in my list. Financing Note Sweet Caroline Neil Diamond cover (fender player stratocaster black sss) The most recent acquisitions include the 220-room Bourbon Orleans Hotel in New Orleans for $89.9 million in July 2021; the 37-room Henderson Park Inn in Destin, Florida, for $27.5 million in July 2021; the 170-room Henderson Beach Resort in Destin for $112.5 million in December 2021; and the 103-unit Tranquility Bay Beachfront Resort in Marathon, Florida, for $63 million in January 2022. Supercharge your prospecting on LinkedIn and across the the web, 10x your recruitment & sales conversations. The company boasts an impressive balance across key metrics, including valuation, FFO growth, payout ratio, and debt management. Our vision is to be the premier allocator of capital in the lodging industry and our goal is to deliver above-average shareholder returns across the full lodging cycle.