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DIAMONDROCK HOSPITALITY COMPANY ACQUIRES THE BELLMOOR INN & SPA

DRH
  • DiamondRock Hospitality Company acquired The Bellmoor Inn & Spa, a 79-room luxury resort in Rehoboth Beach, Delaware, for $31.0 million.
  • The purchase price equates to approximately $392,000 per key & was funded using cash on hand.
  • The acquisition was based on trailing twelve-month results ending August 2026, reflecting a 10.4x EBITDA multiple & an 8.6% capitalization rate on net operating income.
  • Projected stabilized net operating income yield is estimated at 9.5% following asset management initiatives & off-season capital improvements.
  • The transaction is not expected to have a material impact on the Company's fourth quarter 2026 earnings.
  • CEO Jeffrey J. Donnelly cited Southern Delaware's supply-constrained market & affluent visitor base as key drivers for long-term value.
  • DiamondRock Hospitality Company is a self-advised REIT that currently owns 35 hotels with 9,479 rooms across leisure & gateway markets.
  • The press release includes forward-looking statements regarding future performance & financial projections.
  • Reconciliation data shows the hotel generated $3.0 million in EBITDA & $2.7 million in NOI for the trailing twelve months ended August 31, 2026.