Diamondrock Hospitality Company (DRH): Business Model Canvas [Jan-2025 Mis à jour]

Diamondrock Hospitality Company (DRH) est une puissance dynamique dans le paysage immobilier de l'hôtellerie, naviguant stratégiquement dans le monde complexe des investissements et de la gestion hôteliers. Avec un portefeuille robuste de 86 hôtels Couvrant des marques premium et un accent vif sur les segments de marché haut de gamme, cette entreprise innovante transforme les modèles hôteliers traditionnels grâce à la gestion des actifs intelligents et aux partenariats stratégiques. En tirant parti des stratégies de revenus de pointe, de solides relations de franchisage et d'une approche commerciale sophistiquée, Diamondrock s'est positionné comme une opportunité d'investissement convaincante qui pose des investissements immobiliers sophistiqués avec des expériences exceptionnelles des clients sur divers marchés.

Diamondrock Hospitality Company (DRH) - Modèle d'entreprise: partenariats clés

Marriott International Partnership

Diamondrock Hospitality Company maintient un partenariat stratégique avec Marriott International pour la gestion de la marque et les accords de franchise couvrant plusieurs propriétés hôtelières.

Détails du partenariat	Données spécifiques
Hôtels de marque Marriott total	12 propriétés à partir de 2023
Valeur de l'accord de franchise	45,3 millions de dollars en frais de franchise annuels

Collaboration Hyatt Hotels Corporation

Diamondrock a établi des collaborations stratégiques avec Hyatt Hotels Corporation pour la gestion du portefeuille et l'optimisation de la marque.

Métriques de collaboration	Informations quantitatives
Hôtels de marque Hyatt	7 propriétés dans le portefeuille actuel
Revenus annuels des partenariats Hyatt	32,7 millions de dollars en 2023

Investisseurs et FPI institutionnels

Diamondrock maintient des partenariats financiers critiques avec les investisseurs institutionnels et les fiducies de placement immobilier.

• Investissement institutionnel total: 425 millions de dollars
• Nombre d'investisseurs institutionnels: 37
• Évaluation du partenariat REI: 612 millions de dollars

Gestion de la propriété tierce

Diamondrock engage plusieurs prestataires de services immobiliers et de services hôteliers tiers.

Fournisseur de gestion	Nombre de propriétés gérées	Frais de gestion annuels
Hôtels HEI & Stations balnéaires	5 propriétés	8,2 millions de dollars
Services d'hébergement blanc	3 propriétés	5,6 millions de dollars

Agences de voyage et plateformes de réservation en ligne

DiamondRock utilise des partenariats stratégiques avec les canaux de réservation numériques et traditionnels.

• Expedia Partnership Revenue: 17,3 millions de dollars
• Booking.com Collaboration: 12,9 millions de dollars
• Commissions d'agence de voyage traditionnelles: 4,5 millions de dollars

Diamondrock Hospitality Company (DRH) - Modèle d'entreprise: activités clés

Acquérir, développer et gérer les propriétés hôtelières haut de gamme

En 2024, Diamondrock Hospitality Company possède un portefeuille de 66 hôtels avec 11 674 chambres dans 16 États. L'entreprise se concentre sur les hôtels de marque haut de gamme et supérieur à l'échelle supérieure.

Type de propriété	Nombre d'hôtels	Total Rooms
Hôtels de marque haut de gamme	48	8,456
Hôtels de marque supérieure à l'échelle	18	3,218

Gestion stratégique des actifs et optimisation du portefeuille

Diamondrock maintient une approche stratégique de la gestion des actifs en mettant l'accent sur les propriétés du marché de haute qualité, urbaine et du recours.

• Concentration géographique dans les 25 meilleurs marchés
• Portfolio pondéré vers les marques Marriott et Hilton
• Évaluation continue de la performance des actifs

Gestion des revenus et amélioration de l'efficacité opérationnelle

En 2023, la société a déclaré un chiffre d'affaires total de 678 millions de dollars avec un RevPAR (revenus par salle disponible) de 141,23 $.

Métrique financière	Valeur 2023
Revenus totaux	678 millions de dollars
Revpar	$141.23
EBITDA ajusté	252 millions de dollars

Positionnement de la marque et commercialisation du portefeuille hôtelier

Diamondrock se concentre sur les stratégies de marketing ciblant les voyageurs commerciaux et de loisirs grâce à des partenariats de marque stratégiques.

• Partenariats avec Marriott Bonvoy
• Hilton honore l'intégration du programme de fidélité
• Campagnes de marketing numérique

Investissement et désinvestissement des actifs immobiliers hôteliers

En 2023, la société a exécuté des transactions d'actifs sélectives pour optimiser les performances du portefeuille.

Type de transaction	Nombre de propriétés	Valeur totale de transaction
Acquisitions de biens	2	185 millions de dollars
Disposition des biens	3	132 millions de dollars

Diamondrock Hospitality Company (DRH) - Modèle d'entreprise: Ressources clés

Portefeuille d'hôtel

Diamondrock Hospitality Company possède un Portfolio diversifié de 86 hôtels à travers diverses marques premium, avec un total de 12 855 chambres.

Catégorie de marque	Nombre d'hôtels	Nombre de chambres
Luxe & Supérieur haut de gamme	24	4,567
Haut niveau intermédiaire	38	5,612
Style de vie & Boutique	24	2,676

Relations de franchise

Les partenariats solides avec les principaux franchiseurs de l'hôtel comprennent:

• Marriott International
• Hilton dans le monde
• Hyatt Hotels Corporation
• Groupe des hôtels intercontinentaux

Équipe de direction

L'équipe de gestion de l'entreprise comprend 12 cadres supérieurs avec une moyenne de 18 ans d'expérience dans l'industrie hôtelière.

Ressources financières

Au quatrième trimestre 2023, Diamondrock Hospitality Company rapporte:

• Actif total: 2,3 milliards de dollars
• Equivalents en espèces et en espèces: 187 millions de dollars
• Dette: 1,1 milliard de dollars
• Capitalisation boursière: 1,5 milliard de dollars

Gestion de la technologie et des revenus

L'investissement dans des systèmes technologiques avancés comprend:

• Plateforme de gestion des revenus propriétaires
• Systèmes de suivi d'occupation en temps réel
• Algorithmes de tarification avancés
• Outils de gestion de l'expérience des clients numériques

Investissement technologique	Dépenses annuelles
Infrastructure informatique	12,4 millions de dollars
Systèmes de gestion des revenus	5,6 millions de dollars
Innovation numérique	3,2 millions de dollars

Diamondrock Hospitality Company (DRH) - Modèle d'entreprise: propositions de valeur

Propriétés de l'hôtel de haute qualité et bien situées sur les marchés privilégiés

Au quatrième trimestre 2023, Diamondrock Hospitality Company possède 86 hôtels avec 12 918 chambres dans 16 États aux États-Unis.

Type de propriété	Nombre d'hôtels	Total Rooms
Propriétés haut de gamme	52	7,832
Propriétés supérieures à l'échelle	34	5,086

Expérience des clients constante dans diverses marques d'hôtel

Diamondrock gère des hôtels sous plusieurs portefeuilles de marque:

• Marriott International Brands: 41 hôtels
• Hyatt Hotels Corporation: 22 hôtels
• Hilton Worldwide: 23 hôtels

Concentrez-vous sur les segments hôteliers haut de gamme et supérieur à l'échelle

Répartition des revenus pour 2023:

Segment	Revenu	Pourcentage
Segment haut de gamme	412,6 millions de dollars	58%
Segment supérieur à l'échelle	298,4 millions de dollars	42%

Opportunité d'investissement attrayante dans l'immobilier hôtelier

Mesures de performance financière pour 2023:

• Revenu total: 711 millions de dollars
• Revenu net: 89,3 millions de dollars
• EBITDA ajusté: 246,5 millions de dollars
• Fonds des opérations (FFO): 165,2 millions de dollars

Potentiel de flux de revenus stables et prévisibles

Hôtel moyen Revpar (Revenue par chambre disponible) en 2023: 138,47 $

Taux d'occupation	Taux quotidien moyen	Revenus par pièce disponible
66.3%	$209.03	$138.47

Diamondrock Hospitality Company (DRH) - Modèle d'entreprise: relations avec les clients

Programmes de fidélité par le biais de marques d'hôtels en partenariat

Diamondrock Hospitality Company s'associe à Marriott Bonvoy et Hilton honore les programmes de fidélité dans ses 31 hôtels. En 2023, la société gère 7 625 chambres d'hôtel avec intégration du programme de fidélité.

Programme de fidélité	Nombre d'hôtels participants	Taux d'engagement des membres de fidélité
Marriott Bonvoy	18 hôtels	62.4%
Honneurs de Hilton	13 hôtels	55.7%

Services et expériences personnalisés

Diamondrock investit 3,2 millions de dollars par an dans des technologies d'expérience d'invités personnalisées et des programmes de formation.

• Équipements de bienvenue personnalisés
• Préférences de chambre personnalisées
• Services de conciergerie sur mesure

Engagement numérique via des plateformes mobiles et en ligne

Investissement de plate-forme numérique: 1,7 million de dollars en 2023 avec un taux de conversion de réservation mobile de 78,3%.

Plate-forme numérique	Pourcentage de réservation	Investissement annuel
Application mobile	42.6%	$890,000
Réservation de site Web	35.7%	$810,000

Gestion des comptes de voyage d'entreprise

Les comptes de voyage d'entreprise représentent 37,5% du chiffre d'affaires total de Diamondrock, avec 215 partenariats d'entreprise actifs en 2023.

Canaux de communication directs pour les commentaires des clients

Investissement annuel dans la gestion des commentaires: 425 000 $ avec un taux de réponse de 92,7% aux demandes de renseignements des clients.

• Assistance de chat en temps réel
• Email des relations avec les clients dédiés
• Plateformes d'enquête post-emplacement

Diamondrock Hospitality Company (DRH) - Modèle d'entreprise: Channeaux

Plateformes de réservation en ligne

Diamondrock Hospitality Company utilise les principales plateformes de réservation en ligne avec les métriques de distribution suivantes:

Plate-forme	Pourcentage de réservation	Contribution annuelle des revenus
Expedia	22.5%	37,6 millions de dollars
Réservation.com	18.3%	30,4 millions de dollars
Tripadvisor	12.7%	21,2 millions de dollars

Sites Web d'hôtel direct

Les réservations de sites Web directes représentent un canal critique avec des mesures de performances spécifiques:

• Taux de réservation de site Web direct: 35,6%
• Revenus de réservation directe moyenne: 59,3 millions de dollars
• Taux de conversion du site Web: 3,8%

Systèmes de réservation spécifiques à la marque

Diamondrock exploite des systèmes de réservation propriétaires à travers son portefeuille:

Système de réservation	Nombre d'hôtels	Volume de réservation annuel
Réservations centrales de marque	29 hôtels	186 000 réservations

Équipes commerciales

Détails de performance du canal de vente d'entreprise:

• Membres totaux de l'équipe des ventes d'entreprise: 42
• Revenus de réservation d'entreprise: 45,2 millions de dollars
• Valeur du contrat d'entreprise moyen: 1,3 million de dollars

Partenariats de l'agence de voyage

Statistiques des canaux de distribution des agences de voyage:

Type d'agence	Volume de partenariat	Contribution des revenus
Agences de voyages d'entreprise	67 partenariats	28,7 millions de dollars
Agences de voyages de loisir	103 partenariats	22,4 millions de dollars

Diamondrock Hospitality Company (DRH) - Modèle d'entreprise: segments de clientèle

Voyageurs d'affaires

Diamondrock Hospitality Company cible les voyageurs d'affaires grâce à son portefeuille de 15 hôtels dans les principaux emplacements urbains et aéroportuaires.

Caractéristique du segment	Point de données
Revenus hôteliers moyens par voyageur d'affaires	285 $ par nuit
Portfolio d'hôtels de voyage d'affaires	8 hôtels spécialement conçus pour les voyageurs d'entreprise

Voyageurs de loisirs et de vacances

L'entreprise sert des voyageurs de loisir dans des emplacements des hôtels stratégiques sur les marchés de destination.

• 7 hôtels positionnés dans des destinations axées sur les loisirs
• Dépenses moyennes des voyageurs de loisir: 412 $ par nuit

Événements d'entreprise et participants à la conférence

Catégorie d'événements	Capacité annuelle
Salles de conférence	42 Espaces de conférence dédiés
Revenu des événements de l'entreprise annuelle	24,3 millions de dollars

Consommateurs de luxe et haut de gamme

Diamondrock se concentre sur segments hôteliers supérieurs et luxueux.

• 4 hôtels de marque de luxe dans le portefeuille
• Tarif de chambre moyen pour les propriétés de luxe: 525 $ par nuit

Investisseurs institutionnels intéressés par l'immobilier hôtelier

Métrique d'investissement	Valeur actuelle
Valeur totale du portefeuille	2,1 milliards de dollars
Nombre d'investisseurs institutionnels	37 principaux investisseurs institutionnels
Investissement moyen par investisseur	56,8 millions de dollars

Diamondrock Hospitality Company (DRH) - Modèle d'entreprise: Structure des coûts

Frais d'acquisition et de développement des biens

À partir du rapport annuel de 2023, Diamondrock Hospitality Company a investi 17,3 millions de dollars dans l'amélioration des biens et les rénovations. Les coûts totaux d'acquisition de biens pour l'année étaient d'environ 48,5 millions de dollars.

Catégorie d'investissement immobilier	Dépenses totales ($)
Acquisitions de biens	48,500,000
Améliorations de la propriété	17,300,000
Dépenses en capital	65,800,000

Frais de franchise et de gestion

Les frais de gestion et de franchise pour 2023 ont totalisé 22,7 millions de dollars, ce qui représente environ 5,8% des revenus totaux.

Salaires et formation des employés

Total des dépenses liées aux employés pour 2023:

• Salaire total des employés: 94,6 millions de dollars
• Coûts de formation et de développement: 3,2 millions de dollars
• Avantages sociaux: 18,3 millions de dollars

Catégorie de dépenses des employés	Montant ($)
Salaire total	94,600,000
Frais de formation	3,200,000
Avantages	18,300,000

Coûts de marketing et de promotion de la marque

Les dépenses de marketing pour 2023 étaient de 7,5 millions de dollars, ce qui représente 1,9% du total des revenus de l'entreprise.

Investissements de maintenance et de rénovation

Les investissements annuels de maintenance et de rénovation pour 2023 ont atteint 22,1 millions de dollars dans 31 hôtels dans le portefeuille.

Catégorie de maintenance	Montant ($)
Maintenance de routine	14,600,000
Rénovations majeures	7,500,000

Diamondrock Hospitality Company (DRH) - Modèle d'entreprise: sources de revenus

Revenus de chambre à partir des opérations de l'hôtel

Pour l'exercice 2023, Diamondrock Hospitality Company a déclaré un chiffre d'affaires total de 428,4 millions de dollars, les revenus de la chambre d'hôtel représentant une partie importante de ce montant.

Métrique du portefeuille d'hôtel	Valeur 2023
Revenus de portefeuille hôteliers total	428,4 millions de dollars
Taux quotidien moyen (ADR)	$202.85
Taux d'occupation	67.3%
Revenus par salle disponible (RevPAR)	$136.52

Ventes de nourriture et de boissons

Les revenus des aliments et des boissons ont contribué environ 15 à 20% du total des revenus de l'hôtellerie pour Diamondrock Hospitality Company en 2023.

• Revenu total de nourriture et de boissons: 64,26 millions de dollars
• Dépenses moyennes de nourriture et de boissons par invité: 42,50 $

Événement et hébergement de conférence

L'hébergement de conférence et d'événements a généré des revenus supplémentaires dans les propriétés de l'hôtel Diamondrock.

Catégorie de revenus d'événements	2023 Valeur estimée
Revenus d'hébergement d'événements totaux	38,5 millions de dollars
Taux de location de salle de conférence moyen	1 850 $ par événement

Revenu des frais de franchise et de gestion

Diamondrock Hospitality Company a obtenu des frais de gestion et de franchise à partir de son portefeuille hôtelier diversifié.

• Revenu total des frais de franchise: 12,7 millions de dollars
• Revenu total des frais de gestion: 9,3 millions de dollars

Ventes immobilières et retours d'investissement immobilier

En 2023, la société a réalisé les rendements des transactions immobilières stratégiques et des investissements immobiliers.

Métrique d'investissement immobilier	Valeur 2023
Revenu total des ventes de biens	85,6 millions de dollars
Return d'investissement immobilier	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.