Diamondrock Hospitality (DRH) Reports In-Line Q3 FFO; Guides FY11 FFO Below Views; to Sell non-Core Hotels in $262.5M Deal
Tweet
Share
E-mailGet Alerts DRH Hot Sheet
Price: $12.36 +0.57%
Financial Fact:
Total revenues: 220.24M
Today's EPS Names:
SVBT, ZEO, OTLK, More
Financial Fact:
Total revenues: 220.24M
Today's EPS Names:
SVBT, ZEO, OTLK, More
Join SI Premium – FREE
Diamondrock Hospitality (NYSE: DRH) reported Q3 FFO of $0.16, in-line with the analyst estimate of $0.16. Revenue for the quarter came in at $179 million versus the consensus estimate of $177.55 million.
Diamondrock Hospitality sees FY2011 FFO of $0.63-$0.65, versus the consensus of $0.66.
The Company's Pro Forma RevPAR was $126.05, an increase of 7.2% from the comparable period in 2010.
The Company has entered into a purchase and sale agreement to sell a portfolio of three non-core hotels to an affiliate of Inland American for a contractual purchase price of $262.5 million. The 1,422-room portfolio consists of the 409-room Griffin Gate Marriott Resort and Spa located in Lexington, Kentucky, the 521-room Renaissance Waverly located in Atlanta, Georgia, and the 492-room Renaissance Austin located in the Arboretum submarket of Austin, Texas.
Diamondrock Hospitality sees FY2011 FFO of $0.63-$0.65, versus the consensus of $0.66.
The Company's Pro Forma RevPAR was $126.05, an increase of 7.2% from the comparable period in 2010.
The Company has entered into a purchase and sale agreement to sell a portfolio of three non-core hotels to an affiliate of Inland American for a contractual purchase price of $262.5 million. The 1,422-room portfolio consists of the 409-room Griffin Gate Marriott Resort and Spa located in Lexington, Kentucky, the 521-room Renaissance Waverly located in Atlanta, Georgia, and the 492-room Renaissance Austin located in the Arboretum submarket of Austin, Texas.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Blackhawk Network (HAWK) Reports Q2 Loss of $0.07; Offers Guidance
- Hydrofarm Holdings Group, Inc. (HYFM) Misses Q2 EPS by 134c
- Movano (MOVE) Misses Q2 EPS by 195c
Create E-mail Alert Related Categories
Earnings, Guidance, Mergers and AcquisitionsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
