Company: DRH-PA
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001298946-25-000049
Chunk: 28

Company: DiamondRock Hospitality Co
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 1
Chunk 28
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 referred to as “non-comparable properties” and all other properties are referred to as “comparable properties”:

PropertyLocationAcquisition DateAC Hotel Minneapolis DowntownMinneapolis, MinnesotaNovember 12, 2024

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PropertyLocationDisposition DateWestin Washington, D.C. City CenterWashington, D.C.February 19, 2025

Comparison of the Three Months Ended March 31, 2025 to the Three Months Ended March 31, 2024 

Revenue.  Revenue consists primarily of the room, food and beverage and other operating revenues from our hotels, as follows (dollars in thousands):  

Three Months Ended March 31,Change20252024$%Rooms$163,118 $163,507 $(389)(0.2)%Food and beverage66,841 68,381 (1,540)(2.3)%Other24,894 24,535 359 1.5 %Total revenues$254,853 $256,423 $(1,570)(0.6)%

Our total revenues decreased $1.6 million from the three months ended March 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