Every material Form 8-K DiamondRock Hospitality filed with the SEC in 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
DiamondRock reported third-quarter 2024 results, with total revenues up 3.1% to $285.1 million but net income down 2.6% to $26.6 million. The company lowered its full-year 2024 comparable RevPAR growth guidance to 1.5% to 2.0%, from 1.5% to 3.0%, citing current transient trends and Hurricanes Helene and Milton, while keeping the Adjusted EBITDA midpoint and raising the Adjusted FFO per share midpoint.
Q3 2024 net income was $26.6 million, or $0.11 per diluted share, versus $27.3 million, or $0.12, a year earlier.
Q3 2024 Adjusted EBITDA rose 3.3% to $75.6 million, and Adjusted FFO per share was $0.26, flat year over year.
Full-year 2024 comparable RevPAR growth guidance was cut to 1.5% to 2.0% from 1.5% to 3.0%.
Full-year Adjusted FFO per share guidance was revised to $0.97 to $0.99 from $0.95 to $1.00, with the Adjusted EBITDA midpoint unchanged at about $284 million.
DiamondRock reported second quarter 2024 total revenues of $309.3 million, up 6.2% from a year earlier, but net income fell 37.1% to $24.6 million, or $0.10 per diluted share, after $20.4 million of severance costs. The company raised the midpoint of its full-year 2024 Adjusted FFO per share guidance to $0.95 to $1.00 and its Adjusted EBITDA guidance to $278 million to $290 million.
Total revenues $309.3 million vs $291.2 million a year earlier; net income $24.6 million vs $39.1 million
Severance costs of $20.4 million in the quarter; corporate expenses $28.5 million vs $8.3 million
Adjusted FFO per diluted share $0.34 vs $0.32; full-year 2024 Adjusted FFO per share guidance midpoint raised by $0.02
Full-year 2024 Adjusted EBITDA guidance now $278 million to $290 million, up $4.0 million at the midpoint
DiamondRock Hospitality said its General Counsel and Corporate Secretary, William J. Tennis, will retire effective June 30, 2024, under a retirement agreement signed May 31, 2024. Tennis will provide consulting services from July 1 through December 31, 2024, and receives a $236,000 pro-rata 2024 bonus and continued health coverage, with some equity awards vesting early.
Retirement effective June 30, 2024; consulting services from July 1 to December 31, 2024
Pro-rata 2024 bonus of $236,000, based on target bonus, conditioned on a release of claims
Restricted stock and 2023 long-term incentive units with time-based vesting vest immediately at retirement
2022, 2023 and 2024 PSU awards remain eligible to be earned, with shares issued at target amount
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every DiamondRock Hospitality filing is on SEC EDGAR ↗. 8-K briefs of other companies →