DiamondRock Hospitality Acquires The Bellmoor Inn & Spa in Delaware for $31 Million
DiamondRock Hospitality (DRH) has acquired The Bellmoor Inn & Spa, a luxury resort located in Rehoboth Beach, Delaware. The purchase price was set at $31 million, equating to about $392,000 per room for the property's 79 rooms. The acquisition reflects DRH’s strategy of expanding its portfolio through targeted investments in high-quality hospitality assets. This move is expected to enhance the company's presence in desirable leisure markets and potentially improve long-term returns for shareholders.
Tickers: $DRH
Topics: DiamondRock Hospitality hotel acquisition real estate