Company: DRH-PA
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001298946-25-000015
Chunk: 70

Company: DiamondRock Hospitality Co
Filing Date: 2025-02-28
Form: 10-K
Item: Item 7
Chunk 70
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2023. The properties detailed for the non-comparable periods highlighted in the table below are hereinafter referred to as “non-comparable properties” and all other properties are referred to as “comparable properties”:

PropertyLocationAcquisition DateChico Hot Springs Resort & Day SpaPray, MontanaAugust 1, 2023AC Hotel Minneapolis DowntownMinneapolis, MinnesotaNovember 12, 2024

Comparison of the Year Ended December 31, 2024 to the Year Ended December 31, 2023 

Revenue. Revenue consists of the following (in thousands):

Year Ended December 31,Change20242023$%Rooms$742,626 $717,447 $25,179 3.5 %Food and beverage281,682 259,757 21,9258.4 Other105,575 97,663 7,9128.1 Total revenues$1,129,883 $1,074,867 $55,016 5.1 %

Our total revenues increased $55.0 million from $1,074.9 million for the year ended December 31, 2023 to $1,129.9 million for the year ended December 31, 2024.

Rooms revenues increased by $25.2 million from the year ended December 31, 2023 to the year ended December 31, 2024, $4.1 million of which was due to the acquisition of the non-comparable properties. The remaining increase of $21.1 million was the result of improved occupancy at our resort hotels and increased ADR at our urban hotels.  

The following are key hotel operating statistics for the years ended December 31, 2024 and 2023. The 2023 operating statistics reflect the period in 2023 comparable to our ownership period in 2024 for hotels acquired in 2024 and 2023. 

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Year Ended December 31,20242023% ChangeOccupancy %72.8 %72.0 %0.8 %ADR$284.63 $281.12 1.2 %RevPAR$207.30 $202.29 2.5 %

Food and beverage revenues increased $21.9 million from the year ended December 31, 2023 to the year ended December 31, 2024, of which $3.8 million was due to the acquisition of non