Diamondrock LLC is a California Limited-Liability Company - Out Of State filed On February 22, 2019. The full-year total was $611.7 million, a 33.5% decrease for the same period. Mr. Brugger received his J.D. The Company currently owns 31 premium quality hotels and resorts with over 9,000 rooms. DiamondRock Hospitality Location 2 Bethesda Metro Ctr Ste 1400, Bethesda, Maryland, 20814, United States Description Read More Industry Real Estate Known for its 24 miles of pristine beaches and emerald green water, Destin was recently ranked as the #1 Best Beach in Florida and the #3 Best Beach in the U.S. DiamondRock Hospitality Company is a self-advised real estate investment trust (REIT) that is an owner of a leading portfolio of geographically diversified hotels concentrated in top gateway markets and destination resort locations. Get Neil Rock's email: ne****k@gmail.com, phone: (212) ***-*418, work experience, and more Our current units outstanding amount is $50,672,125. Neil Diamond at IMDb This page was last edited on 1 May 2023, at 13:45 (UTC). Global Thinker, Local Impact. Although the Company believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that the expectations will be attained or that any deviation will not be material. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. DiamondRock Hospitality Company is a self-advised real estate investment trust (REIT) that is an owner of a leading portfolio of geographically diversified hotels concentrated in top gateway markets and destination resort locations. DiamondRock Hospitality. Enjoy the services provided by our budget hotels: parking Wi-Fi access, breakfast in the form of an all-you-can eat buffet, etc.. Cision Distribution 888-776-0942 Only $200 per official company press release! In this article, I want to explore my methodology for constructing a Magic Formula specifically for REITs and reveal the top stock in the mix. at Free shipping for many products! For the full year, the company reported a $396 million loss after . Nine of us had lunch today, with five off them eating there for the first time. As previously mentioned, much of the debt is set to mature over the next 24 months, which should enable DRH to call back the preferred stock. For further information on the Company and its portfolio, please visit DiamondRock Hospitality Company's website at www.drhc.com. ROCK. The recently constructed luxury oceanfront resort offers 40,000 square feet of meeting space, a "lazy river" pool, separate family and adult pools, a world-class spa, as well as numerous restaurant and bar outlets, including Destin's only rooftop bar. What is Neil Rock's role at DiamondRock, LLC? DiamondRock ranked as the 23rd "cheapest" REIT on a price-to-FFO basis in my list. well as phone numbers accurately with Stocks were first ranked by P/FFO, followed by FFO payout ratio (lower is better), and FFO growth over the trailing twelve months. Neil Rock's personal email Neil Rock is the founder and President of DiamondRock, LLC. at No units have ever been rented outside of the rental program, and the RMAs provide DiamondRock with an exclusive right of first refusal to purchase upon sale. Of course, be is one of the world's most popular performers, with over 125 million albums sold. To accelerate and fund that strategic direction, DiamondRock will recycle non-core branded urban hotels as opportunities come up, he said. Let's hope this isn't the same guy f. Support: 888-992-3836 Home NewsWire Subscriptions These investments conclude an active year of capital recycling for DiamondRock that strategically shifted the portfolio . BETHESDA, Md., Aug. 4, 2021 /PRNewswire/ --DiamondRock Hospitality Company (the "Company") (NYSE:DRH) today announced that it has acquired the Bourbon Orleans Hotel ("Bourbon Orleans" or the "Hotel"), a lifestyle boutique hotel on the famed Bourbon Street in the French Quarter of New Orleans, Louisiana, and Henderson Park Inn (the "Resort"), a beachfront resort situated on the Emerald Coast in Destin, Florida. Most of the debt on the balance sheet will mature over the next 24 months. If you have an ad-blocker enabled you may be blocked from proceeding. Tranquility Bay has highly durable income. post# 35165, http://investorshub.advfn.com/boards/board.aspx?board_id=12641, CGAC Completes $894,325 Purchase of 412 Bitcoin Miners, Mining Operations Underway Prior to joining Loews, Mr. Furbay was Senior Vice President, Acquisitions and Development at Kimpton Hotels for nine years and prior to that he served in a variety of positions with hospitality companies. The resort is generating over a 9.0% yield on 2021 forecasted NOI and is expected to continue to grow in the future. A total of 53% of travelers booked their rooms in December, he added. "Profit flow-through was excellent. "Since that pivot, we have completed more than $1 billion in transactions to assemble a portfolio that today defines DiamondRock. We had invested in a previous company early on and we were there to witness the growth that Kevin was able to drive with the capital we invested and we are happy to be getting in on the ground floor in this new venture.. Contact over 250M professionals instantly by email or phone. You must be logged in to give a plus1 award. C2C ACQUISITION CORP. Associate Broker / See all (1) Enhance this page - Upload photos! at at I have no business relationship with any company whose stock is mentioned in this article. XHR only surpasses DRH on a net debt-to-EBITDA basis. This $500,000 note has terms that we feel reflect the current market, while more in line with our current stock price. at Comparable revenues for the quarter totaled $196.8. Tetra Tech EM Inc. Chief Technology Officer at CalPERS Is this happening to you frequently? I am not receiving compensation for it (other than from Seeking Alpha). Neil Turbin is best known for his work on Anthrax's debut LP, 1984's 'Fistful of Metal.' However, his time with the band was short-lived, as he was soon kicked out and replaced by Joey Belladonna before he was also let go due to creative and stylistic differences. Microsoft, Patient Experience Professional at There aren't enough food, service, value or atmosphere ratings for 4 Graines, France yet. These risks include, but are not limited to: national and local economic and business conditions; operating risks associated with the hotel business; risks associated with the level of the Company's indebtedness; relationships with property managers; the ability to compete effectively in areas such as access, location, quality of accommodations and room rate structures; changes in travel patterns, taxes and government regulations which influence or determine wages, prices, construction procedures and costs; and other risk factors contained in the Company's filings with the Securities and Exchange Commission. Second, the hotel industry is heavily influenced by macroeconomic factors such as GDP growth, employment, consumer confidence, and corporate earnings. Entering text into the input field will update the search result below. The Henderson Beach Resort is adjacent to the oceanfront Henderson Park Inn, acquired by the Company earlier in 2021. Conversely, when the cost of capital is high, the company focuses on long-term value creation through share repurchases. You could consider investing in the REIT itself. Previously, Mr. Furbay served as Chief Investment Officer at Loews Hotels & Resorts for four years. U.S. Bank, Senior Restaurant Support Specialist at Yelp Reservations Financing Note at SCP Health, VP Sales at Nikka Specialty Flooring Products. Tennis is our Executive Vice President, General Counsel and Corporate Secretary since January 2010. Amendment of Share Purchase Agreements THE GUY THAT IS SUPPLYING THE COMPANY WITH $$$.INTERESTING.READ BOLD. "Several resorts achieved record-breaking rates in 2021, and we are seeing this trend continuing.". With an FFO payout ratio of only 11.88%, DiamondRock significantly outperforms its peers in this regard. The amendments operated to amend the Share Purchase Agreements entered into between the Company and each of Mr. Frija and Mr. Pan on June 1, 2015, to terminate any unexercised options held by Mr. Frija or Mr. Pan under such agreements to acquire 30,000,000 shares of common units of the Company. These investments conclude an active year of capital recycling for DiamondRock that strategically shifted the portfolio to almost two-thirds destination leisure hotels and resorts. Troy G. Furbay is our Executive Vice President and Chief Investment Officer since April 9, 2014. Mr. Furbay received a M.B.A. from Fordham University in 1995. The combined purchase price for the two hotels is $108.6 million . An unnamed buyer has committed a non-refundable $5 million deposit on the 725-room property which DiamondRock purchased in 2011 for $335 million and the sale is expected to close before the. CEO Kevin Frija stated: With the retirement of these outstanding options we feel we are off to a fantastic start to building shareholder confidence. Mr. Frija continued: Initially we set up these options which allowed us to fund the Company back in 2015 when there were no employees or business to speak of, since then we have come a long way adding value to the Company. Electronic cigarettes (also known as ecigs or e-cigs) are electronic devices which deliver nicotine through atomization, or vaping of e-liquids and without smoke and other chemicals constituents typically found in traditional tobacco burning cigarette products. Making remote or global hires? The outlook for New Orleans in 2022 is particularly bright with the return of Mardi Gras, Jazz Fest and the NCAA Final Four in the first quarter 2022, as well as a strong convention calendar. We project our recycling initiative will immediately and meaningfully increase our investment yield and drive long-term cash flow growth.". Ms. Quinn joined DiamondRock in 2007 as Assistant Corporate Controller and was promoted to Vice President and Corporate Controller in 2008 and to Chief Accounting Officer in 2014. laraz5: (3) Neil Rock has the voting and dispositive power over the shares owned by RedDiamond Partners LLC. I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in DRH.PA over the next 72 hours. at With this core principle that aligns the interests of our operators and our investors, Diamond Rock is also experienced and comfortable effecting minority recapitalizations with flexible investment structures designed to uniquely meet the needs of the company, its management team and other shareholders. There are 24 individuals that go by the name of Neil Rock. The Bourbon Orleans Hotel shows a uniquely sophisticated side of life on Bourbon Street, the single biggest leisure destination in the city. Debt at these levels could impact results in the coming quarters, especially if the Fed continues to raise rates. Diamond Rock Capital is a private equity firm focused on investing in and building niche-market leaders at the lower end of the middle market. This is the version of our website addressed to speakers of English in the United States. Get quick answers from La Table de Chantal staff and past visitors. Diamond Rocks core focus is identifying exceptional management teams to acquire businesses with up to $100 million in revenue across industry segments in which Diamond Rock brings significant experience and operating resources, including financial services, specialty manufacturing and consumer products. 2 Bethesda Metro Ctr Ste 1400, Bethesda, Maryland, 20814, United States. Please. Thetotal investment in the 220-room Bourbon Orleans Hotel represents a 7% capitalization rate on 2019 net operating income ("NOI"). Apr 27, 2023 7:34 AM, ILUS Confirms New First Phase Deal for ILUS EV Technologies in Serbia No recommendation or advice is being given as to whether any investment is suitable for a particular investor. While urban hotels improved during the year, the segment remained well below pre-pandemic levels with revenues of $105 million in the fourth quarter. "These investments cap off an active year where DiamondRock recycled $220 million from low-yield, encumbered, capital-intensive properties into $293 million of high-quality, unencumbered, independent hotels and resorts. Prior to his Twenty20 debut, he was named in Ireland's squad for the 2018 Under-19 Cricket World Cup. The upcoming fall new music release calendar just got a lot more interesting with. Employee Relations Manager, HR Strategy. Tripadvisor performs checks on reviews. Vice President at De Los Reyes Engineering, Inc. Vice President of Staffing Operations SCP - Health Adverse economic conditions can negatively affect the lodging industry, leading to a decline in DiamondRock's profitability and, ultimately, its ability to provide returns to stockholders. In addition, he served as a director on the board of Chambers Street (NYSE: CSG). I wrote this article myself, and it expresses my own opinions. The Resort's irreplaceable location and top-quality amenities have made this the #1 resort in Destin on TripAdvisor and garnered attention from numerous travel and leisure publications, including being named the 23rd Best Hotel in the Country (TripAdvisor), Best Luxury Value (Conde Nast 2020 Awards for Excellence), Best Hotel in Destin, FL (U.S. News and Travel), and Ten Best Beach Hotels in Florida (Coastal Living). Last year alone, the white sand beaches of Destin attracted 4.5 million visitors and The Henderson Park Inn is one of the few beachfront hotels in Destin. The strategic approach involves capital allocation based on the cost of capital. Briony R. Quinn currently serves as our Senior Vice President & Treasurer since March 2018. DiamondRock sold $220 million in hotels in 2021, then reinvested those proceeds into four independent and experiential properties. Note: your question will be posted publicly on the Questions & Answers page. Neil Rock, Principal at DiamondRock, stated: We are pleased to be able to support Kevin and his team going forward and we are excited to be chosen to do this deal. He said two more hotels will be repositioned in the first quarter of 2022. Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors which may cause the actual results to differ materially from those anticipated at the time the forward-looking statements are made. The fee-simple interest in the Resort was purchased fully unencumbered by brand and management, previously managed by an owner-operator. Prior to Wells Fargo, Mr. Donnelly was Assistant Vice President at AEW Capital Management, L.P. with fiduciary responsibilities in asset management and capital markets for large diversified commercial real estate portfolio. The Hotel has a strong track record of profitability and is traditionally ranked top 10 on TripAdvisor. Third-party unit owners bear 100% of the maintenance and capital costs associated with their unit. By regularly adjusting their portfolios and maintaining a disciplined approach, they aim to outperform the market in the long run while minimizing emotional biases in decision-making. In the quarter, comparable RevPAR dropped 12.5% compared to the same period in 2019 to $158.53. CGAC The most recent acquisitions include the 220-room Bourbon Orleans Hotel in New Orleans for $89.9 million in July 2021; the 37-room Henderson Park Inn in Destin, Florida, for $27.5 million in July 2021; the 170-room Henderson Beach Resort in Destin for $112.5 million in December 2021; and the 103-unit Tranquility Bay Beachfront Resort in Marathon, Florida, for $63 million in January 2022. These individuals collectively are associated with 17 companies in 12 cities. At just 1.49%, DiamondRock doesn't fall anywhere near the list of high-yielding REITs. . Reveal Mark W. Brugger is the Co-Founder, President, Chief Executive Officer and a Director of DiamondRock Hospitality Company. These risks include, but are not limited to: national and local economic and business conditions; operating risks associated with the hotel business; risks associated with the level of the Company's indebtedness; relationships with property managers; the ability to compete effectively in areas such as access, location, quality of accommodations and room rate structures; changes in travel patterns, taxes and government regulations which influence or determine wages, prices, construction procedures and costs; and other risk factors contained in the Company's filings with the Securities and Exchange Commission. Neil Alan Rock (born 24 September 2000) is an Irish cricketer. Mutual of Omaha, Parts & Service Director / Fixed Operations Director Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body. At just 1.49%, DiamondRock doesn't fall anywhere near the list of high-yielding REITs. Already a member of the Songwriters Hall of Fame, he has been a dominant force on the pop charts for two generations: Thirty-six of his songs have hit the Top Forty. The Magic Formula, featured in Joel Greenblatt's book "The Little Book That Beats the Market," helps investors find high-quality, undervalued stocks with strong potential returns. When the property was rebuilt into a modern hotel it retained its historic faade and Parisian grandeur from its time as The Orleans Theatre & Ballroom (1817-1881) and convent for the Sisters of the Holy Family (1881-1964). Diversity, Equity & Inclusion, Collaborator and Innovator, Continuous Learner, Growth Mindset Neil Rock works in the Financial Services industry. VPR Brands Receives Favorable Decision from The US Patent Trial and Appeal Board, VPR Brands Announces Favorable Settlement of Third Patent Infringement Case; Settlements Now Total Over $500,000, VPR Brands 2022 Successful Trade Show Debut at the TPE Tobacco Plus Expo and CHAMPS Show in Las VegasUnveiled Their New Dissim Sport and Dissim Slim Lighters, VPR Brands Announces Favorable Settlement of Second Patent Infringement Case, VPR Brands Announces Favorable Settlement of a Recently Filed Patent Infringement Case. PRESIDENT, CHIEF EXECUTIVE OFFICER AND DIRECTOR, EXECUTIVE VICE PRESIDENT AND CHIEF FINANCIAL OFFICER, EXECUTIVE VICE PRESIDENT AND CHIEF INVESTMENT OFFICER. HollyFrontier. DiamondRock reported a net loss of $2.9 million in the fourth quarter and a $195.4 million full year, according to the company news release. DiamondRock Hospitality's business model, focusing on premium full-service hotels, faces three significant risks. In the introduction, I provided a brief overview of the criteria used to rank DiamondRock at the top of the list. at In conclusion, this analysis highlights DiamondRock Hospitality stock as a top pick within the REIT sector using a modified Magic Formula that focuses on several criteria REIT investors care about. These four ranks were summed and sorted to reveal the winner: DiamondRock Hospitality Company (NYSE:DRH), which is the focus of this article. at The cities are Brecksville OH, Denver CO, Houston TX, Irvine CA, Katy TX, Laguna Niguel CA, Los Angeles CA, New York NY, Port Richy FL, Sacramento CA, Wake Forest NC, and Westlake OH. View Neil Rock's business profile as President at DiamondRock, LLC. Emergency Preparedness Coordinator at Tetra Tech The Company is also engaged in product development for the vapor or vaping market, including e-liquids. CAPITAL RECYCLING STRATEGY FOCUSED ON STRONG DRIVE-TO LEISURE SEGMENT. Factory 360, Executive Vice President of Sales and Marketing at BigTapp Pte Ltd, Connectologist. Frequently Asked Questions about Neil Rock. All information in this release is as of the date of this release, and the Company undertakes no obligation to update any forward-looking statement to conform the statement to actual results or changes in the Company's expectations. , March 2, 2023 /PRNewswire/ -- DiamondRock Hospitality Company (the "Company") (NYSE: DRH) today announced that its Board of Directors has declared a quarterly cash dividend of $0.03 per common share to be paid on April 12, 2023 to shareholders of record as of March 31, 2023 . from 8 AM - 9 PM ET. DiamondRock likely trades at this discount due to its relatively low dividend yield compared to peers. Prior to DiamondRock, Ms. Quinn was the Vice President of Finance and Accounting for Meristar Hospitality Corporation, a publicly-traded lodging real estate investment trust. DiamondRock reported a net loss of $2.9 million in the fourth quarter and a $195.4 million full year, according to the company news release. Can a vegetarian person get a good meal at this restaurant? have always had the same thing every time I have visited, but my colleagues have all enthused about the other dishes. Nine of us had lunch today, with five off them eating there for the first time. Neil Rock Active New York, NY Chief Executive Officer for Firerock Capital Inc. Overview 2 Companies 1 Connections 1 Locations Contribute Follow Neil Rock Overview Neil Rock has been associated with two companies, according to public records. For those curious, Xenia Hotels & Resorts (XHR) took second place. Reviews (72) Write a review. In short, the company outperforms the average REIT across all four of these metrics. Money Back Guarantee ensures YOU receive the item you ordered or get your money back. The Registered Agent on file for this company is Michael Manson and is located at 30 Corporate Park Suite 200, Irvine, CA 92606. It has also been recognized by numerous travel publications for its excellence, including Conde Nast (#7 Top Hotel in New Orleans), USA Today (#5 Top Haunted Hotel in the U.S.), and TripAdvisor (2019 Certificate of Excellence). Text is available under the . Songwriting has always been about discovery for Neil Diamond. While on the Board, Mr. Brugger sat on the Audit and Compensation Committees. The hotel was closed at the onset of the pandemic and reopened in mid-2021 shortly before the Company's acquisition. That being said, the dividend is safe. The Bourbon Orleans Hotel represents a rare opportunity to acquire a large, fully unencumbered, fee simple hotel in the heart of the famed French Quarter of New Orleans.