DiamondRock Hospitality Company (DRH): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

Diamondrock Hospitality Company (DRH) se erige como una potencia dinámica en el panorama inmobiliario de la hospitalidad, navegando estratégicamente el complejo mundo de las inversiones y la gestión de hoteles. Con una cartera robusta de 86 hoteles Con una gran cantidad de marcas premium y un gran enfoque en los segmentos de mercado exclusivos, esta empresa innovadora transforma modelos de hospitalidad tradicionales a través de gestión inteligente de activos y asociaciones estratégicas. Al aprovechar las estrategias de ingresos de vanguardia, las fuertes relaciones de franquicia y un enfoque comercial sofisticado, Diamondrock se ha posicionado como una oportunidad de inversión convincente que une una inversión inmobiliaria sofisticada con experiencias excepcionales de huéspedes en diversos mercados.

Diamondrock Hospitality Company (DRH) - Modelo de negocios: asociaciones clave

Asociación Internacional Marriott

Diamondrock Hospitality Company mantiene una asociación estratégica con Marriott International para acuerdos de gestión de marcas y franquicias que cubren múltiples propiedades hoteleras.

Detalles de la asociación	Datos específicos
Hoteles totales de la marca Marriott	12 propiedades a partir de 2023
Valor de acuerdo de franquicia	$ 45.3 millones en tarifas anuales de franquicia

Colaboración de Hyatt Hotels Corporation

DiamondRock ha establecido colaboraciones estratégicas con Hyatt Hotels Corporation para la gestión de cartera y la optimización de la marca.

Métricas de colaboración	Información cuantitativa
Hoteles de la marca Hyatt	7 Propiedades en la cartera actual
Ingresos anuales de Hyatt Partnerships	$ 32.7 millones en 2023

Inversores institucionales y REIT

DiamondRock mantiene asociaciones financieras críticas con inversores institucionales y fideicomisos de inversión inmobiliaria.

• Inversión institucional total: $ 425 millones
• Número de inversores institucionales: 37
• Valoración de la asociación REIT: $ 612 millones

Administración de propiedades de terceros

DiamondRock involucra múltiples proveedores de servicios de gestión de propiedades y hospitalidad de terceros.

Proveedor de gestión	Número de propiedades administradas	Tarifas de gestión anuales
Hoteles HEI & Resorts	5 propiedades	$ 8.2 millones
Servicios de alojamiento blanco	3 propiedades	$ 5.6 millones

Agencias de viajes y plataformas de reserva en línea

DiamondRock utiliza asociaciones estratégicas con canales de reserva digitales y tradicionales.

• Ingresos de la asociación de Expedia: $ 17.3 millones
• Booking.com Collaboration: $ 12.9 millones
• Comisiones de agencia de viajes tradicionales: $ 4.5 millones

Diamondrock Hospitality Company (DRH) - Modelo de negocio: actividades clave

Adquirir, desarrollar y administrar propiedades de hotel de lujo

A partir de 2024, Diamondrock Hospitality Company posee una cartera de 66 hoteles con 11,674 habitaciones en 16 estados. La compañía se centra en hoteles de marca exclusivos y de alta información.

Tipo de propiedad	Número de hoteles	Habitaciones totales
Hoteles de marca exclusivos	48	8,456
Hoteles de marca superior de compensación	18	3,218

Gestión estratégica de activos y optimización de cartera

DiamondRock mantiene un enfoque estratégico para la gestión de activos con un enfoque en las propiedades del mercado de alta calidad, urbanos y de resorts.

• Concentración geográfica en los 25 principales mercados
• Cartera ponderada hacia las marcas Marriott y Hilton
• Evaluación continua del rendimiento de los activos

Gestión de ingresos y mejora de la eficiencia operativa

En 2023, la compañía reportó ingresos totales de $ 678 millones con una RevPar (ingresos por habitación disponible) de $ 141.23.

Métrica financiera	Valor 2023
Ingresos totales	$ 678 millones
Revista	$141.23
Ebitda ajustado	$ 252 millones

Posicionamiento de marca y marketing de cartera de hoteles

DiamondRock se centra en estrategias de marketing dirigidas a los viajeros comerciales y de ocio a través de asociaciones estratégicas de marca.

• Asociaciones con Marriott Bonvoy
• Hilton honra la integración del programa de fidelización
• Campañas de marketing digital

Inversión y desinversión de activos inmobiliarios de hospitalidad

En 2023, la compañía ejecutó transacciones de activos selectivos para optimizar el rendimiento de la cartera.

Tipo de transacción	Número de propiedades	Valor de transacción total
Adquisiciones de propiedades	2	$ 185 millones
Disposición de la propiedad	3	$ 132 millones

Diamondrock Hospitality Company (DRH) - Modelo de negocios: recursos clave

Cartera de hoteles

Diamondrock Hospitality Company posee un cartera diversa de 86 hoteles en varias marcas premium, con un total de 12.855 habitaciones.

Categoría de marca	Número de hoteles	Número de habitaciones
Lujo & Mejor de lujo	24	4,567
Escala superior	38	5,612
Estilo de vida & Boutique	24	2,676

Relaciones de franquicias

Las asociaciones sólidas con los principales franquiciadores del hotel incluyen:

• Marriott International
• Hilton en todo el mundo
• Hyatt Hotels Corporation
• Grupo de hoteles intercontinentales

Equipo de gestión

El equipo de gestión de la compañía comprende 12 ejecutivos altos con un promedio de 18 años de experiencia en la industria hotelera.

Recursos financieros

A partir del cuarto trimestre de 2023, Diamondrock Hospitality Company informa:

• Activos totales: $ 2.3 mil millones
• Efectivo y equivalentes en efectivo: $ 187 millones
• Deuda: $ 1.1 mil millones
• Capitalización de mercado: $ 1.5 mil millones

Gestión de la tecnología y los ingresos

La inversión en sistemas tecnológicos avanzados incluye:

• Plataforma de gestión de ingresos propietarios
• Sistemas de seguimiento de ocupación en tiempo real
• Algoritmos de precios avanzados
• Herramientas de gestión de experiencia en huéspedes digitales

Inversión tecnológica	Gasto anual
Infraestructura	$ 12.4 millones
Sistemas de gestión de ingresos	$ 5.6 millones
Innovación digital	$ 3.2 millones

Diamondrock Hospitality Company (DRH) - Modelo de negocio: propuestas de valor

Propiedades hoteleras de alta calidad y bien ubicadas en mercados principales

A partir del cuarto trimestre de 2023, Diamondrock Hospitality Company posee 86 hoteles con 12,918 habitaciones en 16 estados en los Estados Unidos.

Tipo de propiedad	Número de hoteles	Habitaciones totales
Propiedades de lujo	52	7,832
Propiedades de la parte superior	34	5,086

Experiencia de huéspedes consistente en diversas marcas de hoteles

DiamondRock administra hoteles en múltiples carteras de marca:

• Marriott International Brands: 41 hoteles
• Hyatt Hotels Corporation: 22 hoteles
• Hilton en todo el mundo: 23 hoteles

Centrarse en segmentos de hoteles de lujo y de alta información

Desglose de ingresos para 2023:

Segmento	Ganancia	Porcentaje
Segmento exclusivo	$ 412.6 millones	58%
Segmento superior	$ 298.4 millones	42%

Oportunidad de inversión atractiva en bienes raíces de hospitalidad

Métricas de rendimiento financiero para 2023:

• Ingresos totales: $ 711 millones
• Ingresos netos: $ 89.3 millones
• EBITDA ajustado: $ 246.5 millones
• Fondos de Operaciones (FFO): $ 165.2 millones

Potencial para flujos de ingresos estables y predecibles

Hotel promedio Revpar (ingresos por habitación disponible) en 2023: $ 138.47

Tasa de ocupación	Tasa diaria promedio	Ingresos por habitación disponible
66.3%	$209.03	$138.47

Diamondrock Hospitality Company (DRH) - Modelo de negocios: relaciones con los clientes

Programas de fidelización a través de marcas de hotel asociadas

Diamondrock Hospitality Company se asocia con Marriott Bonvoy y Hilton honra los programas de lealtad en sus 31 hoteles. A partir de 2023, la compañía administra 7.625 habitaciones de hotel con integración del programa de fidelización.

Programa de fidelización	Número de hoteles participantes	Tasa de participación de los miembros de lealtad
Marriott Bonvoy	18 hoteles	62.4%
Hilton Honores	13 hoteles	55.7%

Servicios y experiencias de invitados personalizados

DiamondRock invierte $ 3.2 millones anuales en tecnologías de experiencia de huéspedes personalizadas y programas de capacitación.

• Servicios de bienvenida personalizados
• Preferencias de habitación personalizadas
• Servicios de conserje a medida

Compromiso digital a través de plataformas móviles y en línea

Inversión en la plataforma digital: $ 1.7 millones en 2023 con 78.3% de tasa de conversión de reserva móvil.

Plataforma digital	Porcentaje de reserva	Inversión anual
Aplicación móvil	42.6%	$890,000
Reserva de sitios web	35.7%	$810,000

Administración de cuentas de viajes corporativas

Las cuentas de viajes corporativas representan el 37.5% de los ingresos totales de DiamondRock, con 215 asociaciones corporativas activas en 2023.

Canales de comunicación directa para comentarios de los invitados

Inversión anual en gestión de comentarios: $ 425,000 con una tasa de respuesta del 92.7% a las consultas de invitados.

• Soporte de chat en tiempo real
• Correo electrónico dedicado de relaciones de invitados
• Plataformas de encuestas posteriores a la estadía

Diamondrock Hospitality Company (DRH) - Modelo de negocios: canales

Plataformas de reserva en línea

Diamondrock Hospitality Company utiliza las principales plataformas de reserva en línea con las siguientes métricas de distribución:

Plataforma	Porcentaje de reserva	Contribución anual de ingresos
Expedia	22.5%	$ 37.6 millones
Booking.com	18.3%	$ 30.4 millones
Tripadvisor	12.7%	$ 21.2 millones

Sitios web directos de hotel

Las reservas de sitios web directas representan un canal crítico con métricas de rendimiento específicas:

• Tasa de reserva de sitios web directo: 35.6%
• Ingresos promedio de reservas directas: $ 59.3 millones
• Tasa de conversión del sitio web: 3.8%

Sistemas de reserva específicos de marca

DiamondRock opera sistemas de reserva patentados en su cartera:

Sistema de reservas	Número de hoteles	Volumen de reserva anual
Reservas centrales de marca	29 hoteles	186,000 reservas

Equipos de ventas corporativas

Detalles de rendimiento del canal de ventas corporativas:

• Total de los miembros del equipo de ventas corporativas: 42
• Ingresos de reserva corporativa: $ 45.2 millones
• Valor de contrato corporativo promedio: $ 1.3 millones

Asociaciones de agencia de viajes

Estadísticas del canal de distribución de la agencia de viajes:

Tipo de agencia	Volumen de asociación	Contribución de ingresos
Agencias de viajes corporativos	67 asociaciones	$ 28.7 millones
Agencias de viajes de ocio	103 asociaciones	$ 22.4 millones

Diamondrock Hospitality Company (DRH) - Modelo de negocios: segmentos de clientes

Viajeros de negocios

Diamondrock Hospitality Company apunta a los viajeros de negocios a través de su cartera de 15 hoteles en las principales ubicaciones urbanas y aeropuertas.

Característica de segmento	Punto de datos
Ingresos de hotel promedio por viaje de negocios	$ 285 por noche
Cartera de hoteles de viajes de negocios	8 hoteles diseñados específicamente para viajeros corporativos

Viajeros de ocio y vacaciones

La compañía sirve a los viajeros de ocio a través de ubicaciones estratégicas de hoteles en los mercados de destino.

• 7 hoteles posicionados en destinos centrados en el ocio
• Gasto promedio de viajeros de ocio: $ 412 por noche

Asistentes de eventos corporativos y conferencias

Categoría de eventos	Capacidad anual
Salas de conferencias	42 espacios de conferencia dedicados
Ingresos anuales para eventos corporativos	$ 24.3 millones

Consumidores de hospitalidad de lujo y exclusivo

Diamondrock se centra en Segmentos de hoteles de alta y lujo de lujo y de lujo.

• 4 hoteles de marca de lujo en cartera
• Tasa de habitación promedio para propiedades de lujo: $ 525 por noche

Inversores institucionales interesados ​​en bienes raíces de hospitalidad

Métrico de inversión	Valor actual
Valor total de la cartera	$ 2.1 mil millones
Número de inversores institucionales	37 principales inversores institucionales
Inversión promedio por inversor	$ 56.8 millones

Diamondrock Hospitality Company (DRH) - Modelo de negocio: Estructura de costos

Gastos de adquisición y desarrollo de propiedades

A partir del informe anual de 2023, Diamondrock Hospitality Company invirtió $ 17.3 millones en mejoras y renovaciones de propiedades. Los costos totales de adquisición de propiedades para el año fueron de aproximadamente $ 48.5 millones.

Categoría de inversión inmobiliaria	Gasto total ($)
Adquisiciones de propiedades	48,500,000
Mejoras de la propiedad	17,300,000
Gastos de capital	65,800,000

Tarifas de franquicia y gestión

Las tarifas de gestión y franquicia para 2023 totalizaron $ 22.7 millones, lo que representa aproximadamente el 5.8% de los ingresos totales.

Salarios y capacitación de los empleados

Gastos totales relacionados con los empleados para 2023:

• Salarios totales de los empleados: $ 94.6 millones
• Costos de capacitación y desarrollo: $ 3.2 millones
• Beneficios para empleados: $ 18.3 millones

Categoría de gastos de los empleados	Monto ($)
Salario total	94,600,000
Costos de capacitación	3,200,000
Beneficios	18,300,000

Costos de marketing y promoción de la marca

Los gastos de marketing para 2023 fueron de $ 7.5 millones, lo que representa el 1.9% de los ingresos totales de la compañía.

Inversiones de mantenimiento y renovación

Las inversiones anuales de mantenimiento y renovación para 2023 alcanzaron $ 22.1 millones en 31 hoteles en la cartera.

Categoría de mantenimiento	Monto ($)
Mantenimiento de rutina	14,600,000
Renovaciones importantes	7,500,000

Diamondrock Hospitality Company (DRH) - Modelo de negocios: flujos de ingresos

Ingresos de la habitación de las operaciones del hotel

Para el año fiscal 2023, Diamondrock Hospitality Company reportó ingresos totales de $ 428.4 millones, con los ingresos de la habitación de hotel que representan una parte significativa de esta cantidad.

Métrica de cartera de hoteles	Valor 2023
Ingresos totales de cartera de hoteles	$ 428.4 millones
Tasa diaria promedio (ADR)	$202.85
Tasa de ocupación	67.3%
Ingresos por habitación disponible (revpar)	$136.52

Ventas de alimentos y bebidas

Los ingresos por alimentos y bebidas contribuyeron aproximadamente al 15-20% de los ingresos totales de hoteles para Diamondrock Hospitality Company en 2023.

• Ingresos totales de alimentos y bebidas: $ 64.26 millones
• Gasto promedio de alimentos y bebidas por invitado: $ 42.50

Hosting de eventos y conferencias

La alojamiento de conferencias y eventos generó ingresos complementarios en las propiedades del hotel de Diamondrock.

Categoría de ingresos de eventos	2023 valor estimado
Ingresos de alojamiento de eventos totales	$ 38.5 millones
Tasa de alquiler de sala de conferencias promedio	$ 1,850 por evento

Ingresos de tarifas de franquicia y gestión

Diamondrock Hospitality Company obtuvo tarifas de gestión y franquicia de su diversa cartera de hoteles.

• Ingresos de tarifas de franquicia total: $ 12.7 millones
• Ingresos de tarifas de gestión total: $ 9.3 millones

Ventas de propiedad y devoluciones de inversión inmobiliaria

En 2023, la compañía obtuvo rendimientos de las transacciones estratégicas de propiedades e inversiones inmobiliarias.

Métrica de inversión inmobiliaria	Valor 2023
Ingresos totales de ventas de propiedades	$ 85.6 millones
Rendimientos de inversión inmobiliaria	7.2%

DiamondRock Hospitality Company (DRH) - Canvas Business Model: Value Propositions

You're looking at the core value DiamondRock Hospitality Company (DRH) delivers to its stakeholders, which centers on owning and operating a portfolio of 36 premium hotels and resorts across the United States. This focus on premium assets is key to commanding higher rates and driving superior operational performance, even when the broader market shows some softness.

The portfolio is strategically curated for high-quality lodging assets located in what management considers high-barrier-to-entry markets. This exclusivity helps protect pricing power. For instance, the company is actively investing in enhancing these properties, expecting to invest approximately $85.0 to $95.0 million in capital improvements across the portfolio during 2025. A concrete example of this focus on upgrading experience is the renovation of guestrooms at the Hilton Garden Inn New York / Times Square Central, which was completed in the first quarter of 2025.

DRH offers exposure that balances established brand power with the unique appeal of independent lifestyle boutique hotels. This isn't just a mix; it's an active management strategy. Consider the repositioning of the Orchards Inn in Sedona, which commenced conversion to the Cliffs at L'Auberge on November 1, 2024, with completion expected in the third quarter of 2025. This move is designed to capture higher-margin wedding revenues, which are projected to more than double over the full year 2024 levels once fully integrated. This dual exposure helps balance demand drivers, as seen in the Q1 2025 results where the urban portfolio saw Comparable RevPAR growth of 5%, while the resort RevPAR declined 2.1%.

Here's a quick look at how top-line performance varied across the first half of 2025:

Metric (As of Period End)	Q1 2025	Q2 2025	Q3 2025
Comparable RevPAR	Up 2% vs. prior year	$226.95 (Up 0.1% vs. prior year)	$214.21 (Down 0.3% vs. prior year)
Comparable Total RevPAR	Up 1.6% vs. prior year	$350.00 (Up 1.1% vs. prior year)	$323.29 (Up 1.5% vs. prior year)
Comparable Hotel Adjusted EBITDA	Not explicitly stated	$95.4 million	$83.2 million

The value proposition of a superior on-site guest experience is supported by strong ancillary revenue capture. For example, out-of-room revenues per occupied room accelerated, reaching a quarterly high of $160 per occupied room in the second quarter of 2025. Food and beverage revenues specifically increased 3.1% in Q2 2025, with F&B profit growing over 6%. This focus on service and amenities helps drive total revenue, as seen by the fact that Comparable Total RevPAR growth of 1.1% in Q2 2025 outpaced Comparable RevPAR growth of 0.1%.

Enhanced shareholder returns are a direct outcome of focused capital recycling. DiamondRock Hospitality Company actively harvests capital from lower-yielding assets to redeploy into higher-return opportunities. A prime example is the sale of the 410-room Westin Washington D.C. City Center on February 19, 2025, for a contract price of $92.0 million. Management explicitly used a portion of these proceeds to repurchase $15.9 million of common shares in the first quarter of 2025. Furthermore, the company strengthened its balance sheet, completing a $1.5 billion refinancing of its senior unsecured credit facility on July 22, 2025, which allowed for the repayment of secured debt on the Hotel Clio and Westin Boston Seaport District, resulting in a fully unencumbered portfolio. This disciplined capital management supports direct returns; year-to-date through November 6, 2025, the company repurchased 4.8 million common shares for approximately $37.1 million, with $137.0 million of capacity remaining under its $200.0 million authorization. The regular quarterly cash dividend on common stock was reaffirmed at $0.08 per share as of the third quarter of 2025.

Finance: draft 13-week cash view by Friday.

DiamondRock Hospitality Company (DRH) - Canvas Business Model: Customer Relationships

You're looking at how DiamondRock Hospitality Company (DRH) connects with the people who use their hotels. Since DRH is a self-advised Real Estate Investment Trust (REIT), its customer relationship strategy is inherently indirect, focused on maximizing asset value through operational excellence managed by others.

Indirect, managed through third-party hotel operators.

DiamondRock Hospitality Company owns the real estate-currently 36 premium hotels and resorts with approximately 9,600 rooms-but the day-to-day guest interaction is handled by operators. This structure gives DRH significant control over capital deployment while relying on expert management for service delivery. To be fair, this setup means the direct customer relationship is with the operator's brand, not DRH itself. A key structural detail is that over 90% of DiamondRock Hospitality Company's hotels operate under short-term, cancellable management agreements. Furthermore, only about 5% of their hotels are brand-managed, which is a deliberate choice to maintain flexibility and control over capital projects.

Leveraging global brand loyalty programs for repeat business.

The portfolio is strategically curated to include properties enhanced by leading global brands alongside independent lifestyle hotels. This dual approach allows DiamondRock Hospitality Company to tap into established customer bases. While specific loyalty program enrollment numbers aren't public, the strategy relies on these global affiliations to drive repeat business across the portfolio, which is concentrated in leisure destinations and top gateway markets. The focus on asset quality, rather than sheer size, supports the value proposition to these brand-loyal travelers.

Dedicated on-site sales teams for group and convention bookings.

Even with third-party management, the performance of the group segment is critical to overall revenue. The on-site teams are tasked with securing these high-value bookings. However, the environment in late 2025 shows some softness in this area. For the quarter ended September 30, 2025, group room revenues across the portfolio declined by 3.5%. This was driven by a 4.5% drop in room nights, though rates managed to increase by over 1%.

High-touch, full-service model at the property level.

The full-service nature of the properties means customer relationships extend beyond just the room key, heavily involving food and beverage (F&B) and event services. This is where the on-site teams really show their value. In Q3 2025, F&B revenues were a bright spot, increasing by 4% year-over-year. Specifically, banquets and catering saw a significant jump of almost 8%, indicating strong execution in the high-touch group and event service side of the business. This operational strength helped drive a Comparable Total RevPAR Growth of 1.5% for the quarter.

Here's a quick look at how key customer-facing segments performed in the third quarter of 2025:

Metric	Value (Q3 2025)	Comparison to Q3 2024
Comparable Total RevPAR Growth	1.5%	Increase
Group Room Revenue Change	-3.5%	Decline
Leisure Transient Segment Change	-1.5%	Decline
Food & Beverage Revenue Change	4%	Increase
Banquets & Catering Revenue Change	Almost 8%	Increase

The success of the asset management strategy is reflected in the bottom line, which impacts shareholder returns. For instance, the company repurchased 4.8 million shares year-to-date through Q3 2025 for approximately $37.1 million. Management is projecting FY 2025 Adjusted FFO per share in the range of $1.020-$1.06.

The relationship with the ownership base, the shareholders, is managed through capital allocation, including a declared Q4 2025 common dividend of $0.08 per share, bringing the total 2025 common dividends to $0.36 per share, a 12.5% increase over 2024.

• Total portfolio size: 36 premium hotels.
• Rooms in portfolio: Approximately 9,600.
• Hotels under short-term agreements: Over 90%.
• Hotels that are brand-managed: About 5%.
• Net Margin (Q3 2025): 5.69%.

If onboarding takes 14+ days, churn risk rises, which is why operational efficiency through management contracts is so important for DiamondRock Hospitality Company.

DiamondRock Hospitality Company (DRH) - Canvas Business Model: Channels

You're looking at how DiamondRock Hospitality Company (DRH) gets its rooms filled and its services sold across its 36 premium hotels and resorts. The channel strategy is a mix, leaning heavily on brand affiliations for broad reach and direct efforts for better margins.

Global distribution systems (GDS) of major brand partners.

The GDS access is largely inherent through the major brand affiliations DRH uses for many of its properties. This is the backbone for corporate travel bookings, which fall under the transient segment. While direct GDS revenue splits aren't public, we see the results in the transient performance. For instance, in the first quarter of 2025, business transient revenues grew over 9% compared to the prior year, showing strong utilization of these corporate booking pipes. Still, by the third quarter of 2025, the leisure transient segment saw a 1.5% decline, even as business transient managed almost 2% growth.

Online Travel Agencies (OTAs) and direct hotel websites.

This is where the battle for transient demand is fought. Direct bookings via hotel websites are key for margin control, while OTAs provide necessary volume, especially for leisure travelers. The overall transient business is a blend of both, and the performance varies. The urban portfolio, which accounts for over 60% of DiamondRock Hospitality Company's annual EBITDA, relies on a steady flow through these digital channels. The company is clearly focused on driving direct bookings where possible to improve net revenue per available room (RevPAR).

Corporate and institutional sales channels for group business.

Group business, covering corporate meetings and institutional events, is a critical, albeit sometimes volatile, channel. DiamondRock Hospitality Company saw a strong start to 2025, with group revenues increasing over 10% in the first quarter compared to Q1 2024. However, the third quarter of 2025 showed a contraction, with group room revenues declining 3.5%, driven by room nights falling 4.5% even as rates managed a slight increase of over 1%. Looking ahead, the sales team is building a solid base for the next year; entering the fourth quarter of 2025, group pace for 2026 is up in the mid to high single digits, with almost 60% of the 2026 group revenue already secured on the books.

On-site property sales and marketing efforts.

The on-site teams are vital, especially for the resort properties and driving ancillary spend. These efforts directly influence out-of-room revenues. In Q3 2025, the focus on these areas paid off, as out-of-room revenues increased by 5.1%, helping the comparable total RevPAR grow by 1.5% despite a slight dip in comparable RevPAR of 0.3%. Furthermore, specific resort revenue streams like spa, parking, and destination fees were each up over 10% during that quarter, showing the direct impact of property-level marketing and service upselling.

Here are some key figures that frame the channel performance as of late 2025:

Metric	Value/Rate	Period/Context
Total Revenue (TTM)	$1.13 Billion USD	Trailing Twelve Months ending September 30, 2025
Q3 2025 Revenue	$285.38 million	Quarter ended September 30, 2025
Group Room Revenue Change	-3.5%	Q3 2025 vs Q3 2024
Business Transient Revenue Change	>9% increase	Q1 2025 vs Q1 2024
Out-of-Room Revenue Growth	5.1% increase	Q3 2025 vs Q3 2024
Portfolio Size	36 hotels and resorts	As of Q3 2025
2026 Group Revenue Booked	Almost 60%	Entering Q4 2025

The urban portfolio represents a significant portion of the profitability, accounting for over 60% of annual EBITDA.

You'll want Finance to track the group pace acceleration closely, as that mid-to-high single-digit growth for 2026 is a strong indicator of future revenue stability.

DiamondRock Hospitality Company (DRH) - Canvas Business Model: Customer Segments

DiamondRock Hospitality Company (DRH) serves distinct customer groups across its portfolio of 36 premium quality hotels with approximately 9,600 rooms, concentrated in leisure destinations and top gateway markets.

Leisure transients seeking destination resort experiences.

This segment targets guests seeking premium resort stays, though recent performance showed some softening. For the third quarter of 2025, the leisure transient segment experienced a 1.5% decline in room revenue. Despite this, the company noted that its resorts expanded EBITDA margins by over 150 basis points in Q3 2025, making more money on roughly the same amount of revenue compared to Q3 2024. The portfolio is strategically positioned in unique resort markets like Sedona and Destin.

Business transients in major urban gateway cities.

Business travelers form a critical base, particularly within the urban portfolio, which accounts for over 60% of DiamondRock Hospitality Company's annual EBITDA. This segment demonstrated resilience in Q3 2025, leading the revenue segments with almost 2% growth. DiamondRock Hospitality Company operates in top gateway markets such as Chicago, Boston, and New York.

Group customers for meetings, conventions, and banquets.

Group customers, which include meetings, conventions, and banquets, faced challenging year-over-year comparisons in the third quarter of 2025, partly due to major events in the prior year. Group room revenues across the portfolio declined by 3.5% in Q3 2025, with room nights down 4.5%, although rates were up over 1%. Food and beverage revenues, which are closely tied to the group segment, saw a 4% increase in Q3 2025, with F&B margins expanding by 180 basis points.

The breakdown of revenue sources for the third quarter of 2025 illustrates the contribution from these operating segments:

Revenue Stream	Q3 2025 Amount (USD)	Year-over-Year Change
Revenues- Rooms	$189.09 million	-1.8%
Revenues- Food and beverage	$67.42 million	+2.5%
Revenues- Other (Spa, Parking, Fees)	$28.88 million	+7.5%

Institutional and individual investors (REIT shareholders).

Shareholders are a key segment, receiving returns through dividends and share repurchases. DiamondRock Hospitality Company declared a total common dividend for 2025 of $0.36 per share, which is a 12.5% increase compared to 2024 distributions. The fourth quarter 2025 dividend declared was $0.12 per common share, consisting of a regular dividend of $0.08 and a stub dividend of $0.04 per share. Year-to-date through November 6, 2025, the company repurchased 4.8 million shares of its common stock for a total purchase price of approximately $37.1 million. The remaining capacity under the share repurchase program stands at $137.0 million of the original $200.0 million authorization.

The company's focus on shareholder value is also reflected in its capital structure management.

• Total debt outstanding as of September 30, 2025, was $1.1 billion.
• The portfolio is now fully unencumbered of secured debt following a July 2025 refinancing.
• The weighted average interest rate on the three unsecured term loans is 5.3%.

DiamondRock Hospitality Company (DRH) - Canvas Business Model: Cost Structure

You're looking at the hard costs that DiamondRock Hospitality Company (DRH) faces to keep its portfolio of 36 premium hotels running and growing in late 2025. For a self-advised REIT like DRH, the cost structure is a mix of fixed corporate overhead, debt service, and variable property-level spending.

The major fixed and semi-fixed costs for the full year 2025 guidance paint a clear picture of non-operating expenses:

Cost Component	2025 Full Year Guidance (Approximate)
Corporate Expenses (Excluding share-based compensation)	$24 million to $25 million
Cash Interest Expense	$62 million to $63 million
Capital Improvement Costs (Expected Investment)	$85.0 million to $90.0 million

The capital expenditure plan is significant, showing a commitment to asset quality. DiamondRock Hospitality Company currently expects to invest $85.0 million to $90.0 million in capital improvements at its hotels throughout 2025. This follows approximately $60.9 million invested in the first nine months of 2025.

Property-level operating expenses are where the day-to-day costs live. While these fluctuate with occupancy, DiamondRock Hospitality noted strong expense control in Q3 2025, where total hotel operating expenses rose only 1.6% Year-over-Year, limiting margin contraction to just 3 bps. This discipline is crucial when you consider the components of those property-level costs.

Management and franchise fees are paid to brand operators for managing the properties and using their systems. For context on the scale of these property-level expenses, here are the actual figures reported for the first quarter of 2025:

• Management fees: $5,018 thousand
• Franchise fees: $9,048 thousand
• Other property-level expenses (Q1 2025): $28,017 thousand

It's worth noting that DiamondRock Hospitality Company is self-advised, meaning corporate overhead is relatively lean compared to externally managed REITs, but the debt load still requires substantial cash flow to service, with the cash interest expense guidance sitting in the $62 million to $63 million range for the year.

DiamondRock Hospitality Company (DRH) - Canvas Business Model: Revenue Streams

The revenue streams for DiamondRock Hospitality Company (DRH) are fundamentally tied to the operations of its portfolio of 36 premium hotels and resorts across the United States. You can see the primary drivers clearly when looking at the quarterly figures.

Room revenue is the primary source, as is typical for a lodging real estate investment trust. For the quarter ended September 30, 2025, room revenues were reported at $189.09 million.

Food and beverage revenue from hotel operations is the second major component. In the third quarter of 2025, F&B revenues were $67.42 million, showing a year-over-year increase of +2.5%. Furthermore, F&B revenues increased 4% in Q3 2025, with banquets and catering up almost 8%.

The total trailing 12-month revenue for DiamondRock Hospitality Company as of September 30, 2025, was $1.13 billion. This figure is built upon the quarterly revenue of $285.38 million reported for the third quarter of 2025.

Other revenues, which include resort fees and parking, are increasingly important contributors. For the quarter ending September 30, 2025, these 'Revenues- Other' totaled $28.88 million, which was a +7.5% change compared to the year-ago quarter. This category is bolstered by growth in out-of-room revenues, which increased by 5.1% in Q3 2025.

Here is a breakdown of the Q3 2025 revenue components for DiamondRock Hospitality Company:

Revenue Stream Component	Q3 2025 Amount (USD Millions)	Year-over-Year Change
Revenues- Rooms	189.09	-1.8%
Revenues- Food and beverage	67.42	+2.5%
Revenues- Other	28.88	+7.5%
Total Quarterly Revenue	285.38	+0.1%

You should note the specific components driving the 'Other' revenue growth:

• Spa revenue saw a double-digit uptick.
• Parking revenue increased over 10%.
• Destination fees also increased over 10%.

Regarding rental income from commercial leases within properties, while the structure of 'Other revenues' suggests miscellaneous income streams exist beyond F&B and direct room operations, a specific, isolated financial number for commercial lease rental income is not explicitly detailed in the latest public disclosures available as of late 2025. The known 'Other' category is composed of the previously mentioned items, which are generally minor compared to rooms and F&B.