Post 200: Top D.C.-Area Businesses

DiamondRock Hospitality Co. / DRH

The Bethesda Marriott Suites is one of 16 hotel properties owned by real estate investment firm DiamondRock Hospitality.

The Bethesda Marriott Suites is one of 16 hotel properties owned by real estate investment firm DiamondRock Hospitality. (Photo: Courtesy of company.)

About DiamondRock Hospitality Co.

6903 Rockledge Dr., Suite 800, Bethesda, Md. 20817
www.drhc.com | 240-744-1150 | Founded: 2004

Industry: Hospitality And Travel | Category: Top 100 Companies

DiamondRock went public in May 2005 with the sale of 1.4 million shares, which raised $225 million. Marriott International and private investors put $196 million into the trust to invest primarily in Marriott hotels and resorts. The company had a secondary offering of 19.3 million shares in March of this year, which raised about $239 million.
Since its launch two years ago, the company has gone on a buying spree of Marriott hotels and resorts around North America. In March of this year, the company bought the Chicago Marriott Downtown Magnificent Mile for $295 million. The acquisition followed the purchases of eight hotels in 2005. DiamondRock bought the Orlando Airport Marriott for $70 million last November. In July, it purchased Oak Brook Hills Resort & Conference Center, a 127-acre golf resort in Oak Brook, Ill., a suburb of Chicago, for $64 million. Also in July, it bought Buckhead SpringHill Suites by Marriott, in an Atlanta suburb, for $34 million. In June, it paid $62 million for the Vail Marriott Mountain Resort & Spa in Vail, Colo. Also that month, it bought a portfolio of four hotels for $315 million, including the Marriott Los Angeles Airport, Renaissance Worthington in Fort Worth, Marriott Atlanta Alpharetta and Frenchman's Reef & Morning Star Resort in the U.S. Virgin Islands.

2007 Financial Data

Total employees: 14 | Local employees: 14

Company Leadership

William W. McCarten Chairman and CEO
John L. Williams President and COO
Mark W. Brugger EVP and CFO
Michael D. Schecter General counsel
Sean H. Mahoney Chief Accounting Officer

Source: Compensation data provided by Equilar, Inc..

Did You Know

DiamondRock is a real estate investment trust with 16 hotel properties in North America. The company was founded in 2004 as a spinoff of Marriott International Inc.

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