$DRH

DiamondRock Hospitality Co

CIK:0001298946|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenues:
Total revenues	$ 318,286	$ 305,720	$ 576,448	$ 560,573
Operating Expenses:
Depreciation and amortization	28,841	28,156	57,381	56,048
Corporate expenses	10,419	9,465	18,262	17,148
Total operating expenses	244,943	249,586	474,484	479,672
Interest expense	14,442	14,868	29,132	30,026
Interest (income) and other (income) expense, net	(1,946)	(764)	(2,594)	(2,228)
Gain on sale of hotel property, net	(31,591)	0	(31,591)	0
Income before income taxes	92,438	42,030	107,017	53,103
Income tax expense	(1,680)	(991)	(1,726)	(149)
Net income	90,758	41,039	105,291	52,954
Less: Net income attributable to noncontrolling interests	(278)	(204)	(347)	(262)
Net income attributable to the Company	90,480	40,835	104,944	52,692
Distributions to preferred stockholders	0	(2,454)	0	(4,908)
Net income attributable to common stockholders	$ 90,480	$ 38,381	$ 104,944	$ 47,784
Earnings per share:
Earnings per share available to common stockholders—basic (in dollars per share)	$ 0.44	$ 0.19	$ 0.51	$ 0.23
Earnings per share available to common stockholders—diluted (in dollars per share)	$ 0.44	$ 0.18	$ 0.51	$ 0.23
Comprehensive Income:
Net income	$ 90,758	$ 41,039	$ 105,291	$ 52,954
Other comprehensive income:
Unrealized gain (loss) on interest rate derivative instruments	1,855	(1,293)	3,561	(3,841)
Unrealized gain on Rabbi Trust assets	497	338	402	392
Amounts reclassified from accumulated other comprehensive income	(23)	(11)	(45)	(684)
Comprehensive income	93,087	40,073	109,209	48,821
Comprehensive income attributable to noncontrolling interests	(285)	(199)	(361)	(241)
Comprehensive income attributable to the Company	92,802	39,874	108,848	48,580
Rooms
Revenues:
Total revenues	207,669	198,237	371,754	361,355
Operating Expenses:
Operating expenses	46,982	47,272	89,305	91,115
Food and beverage
Revenues:
Total revenues	80,780	78,828	147,946	145,669
Operating Expenses:
Operating expenses	50,826	50,548	96,726	96,965
Other
Revenues:
Total revenues	29,837	28,655	56,748	53,549
Operating Expenses:
Operating expenses	70,594	68,719	136,782	134,005
Management fees
Operating Expenses:
Operating expenses	8,866	7,406	13,877	12,424
Franchise fees
Operating Expenses:
Operating expenses	10,549	10,003	19,804	19,051
Other property-level expenses
Operating Expenses:
Operating expenses	$ 17,866	$ 28,017	$ 42,347	$ 52,916

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended				6 Months Ended		12 Months Ended
	Jun. 30, 2026	Mar. 31, 2026	Jun. 30, 2025	Mar. 31, 2025	Jun. 30, 2026	Jun. 30, 2025	Dec. 31, 2025
Cash flows from operating activities:
Net income	$ 90,758	$ 14,533	$ 41,039	$ 11,915	$ 105,291	$ 52,954
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization					57,381	56,117
Gain on sale of hotel property, net	(31,591)		0		(31,591)	0
Non-cash lease expense and other amortization					2,575	2,583
Amortization of debt issuance costs					851	1,056
Amortization of deferred income related to key money					(158)	(178)
Share-based compensation					4,804	3,882
Changes in assets and liabilities:
Prepaid expenses and other assets					(8,341)	(3,843)
Due to/from hotel managers					(21,927)	(14,683)
Accounts payable and accrued expenses					(7,372)	3,286
Net cash provided by operating activities					101,513	101,174
Cash flows from investing activities:
Capital expenditures					(40,254)	(41,270)
Net proceeds from sale of hotel property					29,871	89,023
Net cash (used in) provided by investing activities					(10,383)	47,753
Cash flows from financing activities:
Mortgage debt principal payments					0	(3,844)
Repayment of mortgage debt					0	(71,089)
Payment of financing costs					0	(450)
Distributions on common stock and units					(43,716)	(65,276)
Distributions on preferred stock					0	(4,908)
Repurchases of common stock					(1,856)	(23,704)
Shares redeemed to satisfy tax withholdings on vested share-based compensation					(2,915)	(4,888)
Net cash used in financing activities					(48,487)	(174,159)
Net increase (decrease) in cash, cash equivalents, and restricted cash					42,643	(25,232)
Cash, cash equivalents, and restricted cash at beginning of period		$ 103,221		$ 128,789	103,221	128,789	$ 128,789
Cash, cash equivalents, and restricted cash at end of period	145,864		103,557		145,864	103,557	103,221
Supplemental Disclosure of Cash Flow Information:
Cash paid for interest					27,905	28,533
Cash paid for income taxes, net					1,598	651
Non-cash investing and financing activities:
Unpaid dividends and distributions declared	19,678		17,394		19,678	17,394	25,903
Accrued capital expenditures					1,940	3,607	2,500
Right-of-use asset upon lease commencement					6,651	0
Lease liability upon lease commencement					9,353	0
Redemption of Operating Partnership units for common stock					4,114	0
Cash and cash equivalents	105,980				105,980		68,084
Restricted cash	39,884				39,884		35,137
Total cash, cash equivalents and restricted cash	$ 145,864		$ 103,557		$ 145,864	$ 103,557	$ 103,221

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
ASSETS
Property and equipment, net	$ 2,555,487	$ 2,596,458
Right-of-use assets	95,106	89,041
Restricted cash	39,884	35,137
Due from hotel managers	189,543	137,787
Prepaid and other assets	80,291	77,194
Cash and cash equivalents	105,980	68,084
Total assets	3,066,291	3,003,701
Liabilities:
Debt, net of unamortized debt issuance costs	1,099,038	1,098,850
Lease liabilities	97,237	87,053
Due to hotel managers	138,906	109,568
Deferred rent	79,556	77,405
Unfavorable contract liabilities, net	55,720	56,549
Accounts payable and accrued expenses	40,344	83,888
Distributions declared and unpaid	19,678	25,903
Deferred income related to key money, net	6,917	7,400
Total liabilities	1,537,396	1,546,616
Equity:
Common stock, $0.01 par value; 400,000,000 shares authorized; 204,505,826 and 203,703,182 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively	2,045	2,037
Additional paid-in capital	2,118,425	2,114,438
Accumulated other comprehensive loss	(2,475)	(6,381)
Distributions in excess of earnings	(594,640)	(662,209)
Total stockholders’ equity	1,523,355	1,447,885
Noncontrolling interests	5,540	9,200
Total equity	1,528,895	1,457,085
Total liabilities and equity	$ 3,066,291	$ 3,003,701