Company: DRH-PA
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001298946-25-000049
Chunk: 67

Company: DiamondRock Hospitality Co
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 8
Chunk 67
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31, 2024 to the three months ended March 31, 2025.

Rooms revenues decreased by $0.4 million from the three months ended March 31, 2024 to the three months ended March 31, 2025, $1.5 million of which was due to the acquisition and disposition of the non-comparable properties. The offsetting increase of $1.1 million was due to growth in the group and business transient segments, partially offset by lower leisure transient revenue. 

The following are key hotel operating statistics for the three months ended March 31, 2025 and 2024. The 2024 operating statistics reflect the period in 2024 comparable to our ownership period in 2025 for the non-comparable properties. 

Three Months Ended March 31,20252024% ChangeOccupancy %66.6 %67.5 %(0.9)%ADR$277.01 $268.31 3.2 %RevPAR$184.60 $180.98 2.0 %

Food and beverage revenues decreased $1.5 million from the three months ended March 31, 2024 to the three months ended March 31, 2025, $0.8 million of which was due to the acquisition and disposition of the non-comparable properties. The remaining decrease was primarily due to lower banquet and catering revenue at the Chicago Marriott Downtown Magnificent Mile.

Other revenues, which primarily represent spa, parking, resort fees and attrition and cancellation fees, increased by $0.4 million from the three months ended March 31, 2024 to the three months ended March 31, 2025, $0.1 million of which was due the acquisition and disposition of the non-comparable properties. The remaining increase was primarily due to our implementation of a resort fee at the Bourbon Orleans Hotel and Hotel Champlain Burlington, as well as an increase in parking revenue. 

Hotel operating expenses. The operating expenses consisted of the following (dollars in thousands):

-22-

Three Months Ended March,Change20252024$%Rooms$43,843 $43,968 $(125)(0.3)%Food and beverage46,417 47,239 (822)(1.7)%Other departmental and support expenses65,286 64,600 686 1.1 %Management fees5,018 5,310 (292)(5.5)%Franchise