DiamondRock Hospitality / DRH
About DiamondRock Hospitality
6903 Rockledge Dr., Suite 800, Bethesda, Md. 20817
www.drhc.com
| 240-744-1150
| Founded: 2004
Industry: Hospitality And Travel | Category: Public 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.
2005 Financial Data
Revenues: $229,450,000 | Net Income: $-7,336,000Asssets: $966,012,000 | Earnings Per Share: $-0.19
Stockholder Equity: $463,388,000 | Annual Dividend: $0.38
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..
| William W. McCarten Chairman and CEO | $2,321,747 Salary: $500,000 |
| John L. Williams President and COO | $1,910,500 Salary: $400,000 |
| Mark W. Brugger EVP and CFO | $1,300,912 Salary: $239,112 |
| Michael D. Schecter General counsel | $995,335 Salary: $218,762 |
| Sean H. Mahoney Chief Accounting Officer | $462,572 Salary: $142,041 |
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.