DiamondRock Hospitality Exceeds Q1 Earnings Expectations and Raises Full-Year Guidance
DiamondRock Hospitality reported first-quarter results that exceeded management's expectations, with comparable RevPAR growth of 2% and total RevPAR up by 2.5%. The company raised its full-year guidance for both RevPAR (to a range of 1.5–3.5%) and FFO per share ($1.12–$1.18). Strong performance was driven primarily by resorts and high-ADR hotels, supported by robust out-of-room spending.
Topics: capital_allocation hotel_reits reit_performance revpar_growth