Company: DRH-PA
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001298946-25-000077
Chunk: 50

Company: DiamondRock Hospitality Co
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 1
Chunk 50
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,512 3,556 5,147 Hotel pre-opening costs321 535 344 769 Terminated transaction costs907 — 907 — Severance costs— 20,362 20,362 Adjusted EBITDA90,457 95,038 146,567 151,252 Corporate expenses5,655 5,636 12,003 11,884 Interest (income) and other (income) expense, net(752)(1,186)(1,546)(2,234)Hotel Adjusted EBITDA$95,360 $99,488 $157,024 $160,902 

(1)Effective January 1, 2025, we exclude share-based compensation expense from our calculation of Adjusted EBITDA. Amounts reported for 2024 have been adjusted to reflect the current year presentation.

(2)For each of the three months ended June 30, 2025 and 2024, amounts include less than $0.1 million of non-cash realized gains related to our deferred compensation plan. For the six months ended June 30, 2025 and 2024, amounts include $0.7 million and less than $0.1 million, respectively, of non-cash realized gains related to our deferred compensation plan.

The following table is a reconciliation of our U.S. GAAP net income to FFO and Adjusted FFO (in thousands):

Three Months Ended June 30,Six Months Ended June 30,20252024 (As Adjusted)(1)20252024 (As Adjusted)(1)Net income$41,039 $24,631 52,954 $32,989 Real estate related depreciation and amortization 28,156 27,873 56,048 56,186 FFO69,195 52,504 109,002 89,175 Distributions to preferred stockholders(2,454)(2,454)(4,908)(4,908)FFO available to common stock and unit holders66,741 50,050 104,094 84,267 Non-cash lease expense and other amortization1,470 1,555 2,945 3,073 Share-based compensation expense (2)2,891 2,512 3,556 5,147 Terminated transaction costs907 — 907 — Sever