Company: DRH-PA
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001298946-25-000015
Chunk: 68

Company: DiamondRock Hospitality Co
Filing Date: 2025-02-28
Form: 10-K
Item: Item 7
Chunk 68
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, California96 59.9 %195.52 117.20 (24.0)%Kimpton Shorebreak Fort Lauderdale Beach ResortFort Lauderdale, Florida96 73.7 %203.39 149.98 4.9 %L'Auberge de SedonaSedona, Arizona88 67.3 %886.86 597.16 2.6 %The Landing Lake Tahoe Resort & SpaSouth Lake Tahoe, California82 60.7 %415.66 252.27 9.5 %Orchards Inn SedonaSedona, Arizona70 50.0 %293.23 146.71 (16.7)%Lake Austin Spa ResortAustin, Texas40 57.8 %1,012.08 585.19 (6.1)%Henderson Park InnDestin, Florida37 65.6 %575.56 377.33 (8.0)%TOTAL/WEIGHTED AVERAGE  10,004 72.8 %$284.63 $207.30 2.5 %

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(1)The percentage change from 2023 RevPAR reflects the comparable period in 2023 to our 2024 ownership period. 

(2)On February 19, 2025, we sold the Westin Washington D.C. City Center hotel to an unaffiliated third party for $92 million.

(3)On November 12, 2024, we acquired the 245-room AC Hotel Minneapolis Downtown located in Minneapolis, Minnesota for $30.5 million, including prorations and transaction costs. The acquisition was funded with corporate cash.

Outlook for 2025

U.S. economic growth is broadly projected to remain moderate in 2025, with persistent effects of monetary policy, elevated interest rates, and evolving consumer spending patterns influencing both businesses and households. While many economic forecasts suggest that the U.S. will continue to avoid a recession, growth is expected to be subdued, shaped by a cooling labor market, tighter credit conditions, and geopolitical uncertainties. Inflation has moderated but remains above the Federal Reserve’s long-term target, and the Federal Reserve has signaled a cautious approach in determining the pace and timing of future interest rate reductions, if any. While some easing is anticipated in 2025, the extent and impact of any rate cuts on capital markets, business investment, and consumer behavior remain uncertain.