BETHESDA, Md. - DiamondRock Hospitality Company (NYSE: DRH), a real estate investment trust with a market capitalization of $1.87 billion, announced the appointment of Stephanie Lepori to its Board of Directors, effective today. Lepori, who is the Chief Administrative and Accounting Officer at Caesars (NASDAQ:CZR) Entertainment, Inc., joins the Board as it expands from eight to nine members. According to InvestingPro data, DRH maintains a strong financial health score of 3.08, labeled as "GREAT" by analysts.
With a career spanning nearly three decades, Lepori brings extensive experience in financial management, strategic growth, and operational leadership, particularly in the hospitality and gaming sectors. Her tenure at Caesars has seen her play a pivotal role in large-scale financing transactions and growth initiatives, including acquisitions and divestitures.
Jeffrey J. Donnelly, CEO of DiamondRock Hospitality, expressed his pleasure at Lepori's addition to the Board, citing her deep industry knowledge and financial expertise as valuable assets for the company.
Lepori's professional background is complemented by her active involvement in community service. She serves on several non-profit boards, including the Truckee Meadows Boys and Girls Club and Renown Health in Reno, where she is set to chair the Audit and Compliance Committee in 2025.
A Certified Public Accountant, Lepori holds a Bachelor of Science Degree in Accounting from the University of Southern California, where she graduated Magna Cum Laude and as a Phi Beta Kappa.
DiamondRock Hospitality owns a portfolio of 37 premium hotels and resorts, encompassing over 10,000 rooms across leisure destinations and key gateway markets. The company's properties are operated under global brand families and as independent boutique hotels within the lifestyle segment. The company has demonstrated solid performance with $1.11 billion in revenue over the last twelve months and a healthy current ratio of 1.65, indicating strong liquidity. InvestingPro analysis reveals 8 additional key insights about DRH's financial position and growth prospects, available to subscribers.
This expansion of the Board and Lepori's appointment is based on a press release statement from DiamondRock Hospitality Company. The company has maintained a consistent dividend program, with a current yield of 1.37%, and has shown profitability with earnings per share of $0.29 in the last twelve months. Investors seeking deeper insights into DRH's valuation and growth potential can access comprehensive analysis through the Pro Research Report, available exclusively on InvestingPro.
In other recent news, DiamondRock Hospitality Company reported a series of developments. The real estate investment trust expanded its portfolio by acquiring the AC Hotel Minneapolis Downtown for $30 million, marking a strategic investment in a recovering market. The acquisition, which brings the company's total holdings to 37 hotels, is expected to contribute to the company's comparable metrics, potentially boosting full-year RevPAR and Total (EPA:TTEF) RevPAR growth.
Simultaneously, DiamondRock reported steady growth in its Third Quarter 2024 Earnings Call. Despite operational challenges, the company saw increases in comparable RevPAR and total RevPAR year-over-year, with urban hotels performing particularly well. The company also highlighted a surge in group demand and a strategic approach to capital management, including share repurchases and debt reduction.
Moreover, DiamondRock revised its full-year guidance and expressed a cautiously optimistic outlook for 2025. The company plans to focus on the leisure and group segments and pursue strategic acquisitions to optimize capital allocation. Despite a slight dip in resort RevPAR and a decline in banquet and catering revenues, DiamondRock reported an increase in comparable hotel adjusted EBITDA to $82.3 million. These are some of the recent developments in the company's financial performance.
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