8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT PURSUANT TO

SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported):

November 16, 2021 

DiamondRock Hospitality Company

(Exact name of registrant as specified in charter)

Maryland	001-32514	20-1180098
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

2 Bethesda Metro Center, Suite 1400

Bethesda, MD 20814

(Address of Principal Executive Offices) (Zip Code)

(Registrant’s telephone number, including area code): (240) 744-1150

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, $0.01 par value	DRH	New York Stock Exchange
8.250% Series A Cumulative Redeemable Preferred Stock, par value $0.01 per share	DRH Pr A	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

☐ Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.      ☐

ITEM 7.01. Regulation FD Disclosure.

On November 16, 2021, DiamondRock Hospitality Company (the “Company“) issued a press release announcing the grand opening of its Margaritaville Beach House Key West. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is hereby incorporated by reference herein.

ITEM 9.01. Financial Statements and Exhibits.

(d) Exhibits.

The following exhibits are included with this report:

Exhibit No. Description

99.1                    Press Release, dated November 16, 2021

101.SCH                Inline XBRL Taxonomy Extension Schema Document

101.CAL                Inline XBRL Taxonomy Extension Calculation Linkbase Document

101.DEF                Inline XBRL Taxonomy Extension Definition Linkbase Document

101.LAB                Inline XBRL Taxonomy Extension Label Linkbase Document

101.PRE                Inline XBRL Taxonomy Extension Presentation Linkbase Document

104                    Cover Page Interactive Data File

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	DIAMONDROCK HOSPITALITY COMPANY
Dated: November 16, 2021	By:	/s/ Briony R. Quinn
		Briony R. Quinn
		Senior Vice President and Treasurer

EX-99.1

COMPANY CONTACTS Jeff Donnelly Chief Financial Officer (240) 744-1190 Briony Quinn Senior Vice President (240) 744-1196 FOR IMMEDIATE RELEASE DIAMONDROCK DEBUTS MARGARITAVILLE BEACH HOUSE KEY WEST BETHESDA, Maryland, Tuesday, November 16, 2021 – DiamondRock Hospitality Company (the "Company") (NYSE: DRH) announced the grand opening of its Margaritaville Beach House Key West following a $3.5 million investment to bring the full Margaritaville experience to life along Key West’s largest beach. The rebranded and upgraded resort features Tin Cup Chalice Bar & Chill, a spirited poolside restaurant and bar concept, an expansive retail outlet and popular family-friendly amenities. The oceanfront resort offers 186 spacious suites, a lagoon-style pool, and lounging hammocks throughout the grounds. Exclusive amenities include poolside entertainment, daily refreshments, a 24- hour fitness center, kids’ activities, lawn games, and easy access to beachfront fun. The resort also boasts indoor banquet space and lush, tropical gardens and courtyards, complete with a 1,500-square-foot event Tiki for smaller meetings, intimate weddings, and events. "We are excited to begin our new relationship with Margaritaville at our Key West resort," said Mark W. Brugger, President and Chief Executive Officer of DiamondRock Hospitality Company. "Margaritaville is synonymous with Key West and a leading leisure hotel brand that we expect will drive incremental demand to our resort and significantly enhance financial performance.” DiamondRock acquired the property for $94 million in 2015 and converted the Marriott-branded resort to the independent Barbary Beach House Key West in late 2019 following an extensive renovation of the guestrooms and common areas. The Company projects its incremental $3.5 million investment to transform the resort into the Margaritaville Beach House Key West will generate over an 80% return for shareholders. The resort is expected to generate nearly $14 million of EBITDA in 2021. For more information or to place a reservation, please visit https://wwww.margaritavillebeachhousekeywest.com/

About the Company DiamondRock Hospitality Company is a self-advised real estate investment trust (REIT) that is an owner of a leading portfolio of geographically diversified hotels concentrated in top gateway markets and destination resort locations. The Company currently owns 31 premium quality hotels with over 9,100 rooms. The Company has strategically positioned its hotels to be operated both under leading global brand families as well as unique boutique hotels in the lifestyle segment. For further information on the Company and its portfolio, please visit DiamondRock Hospitality Company's website at www.drhc.com. This press release contains forward-looking statements within the meaning of federal securities laws and regulations. These forward-looking statements are identified by their use of terms and phrases such as “believe,” “expect,” “intend,” “project,” “forecast,” “plan” and other similar terms and phrases, including references to assumptions and forecasts of future results. Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors which may cause the actual results to differ materially from those anticipated at the time the forward-looking statements are made. These risks include, but are not limited to: national and local economic and business conditions; operating risks associated with the hotel business; risks associated with the level of the Company’s indebtedness; relationships with property managers; the ability to compete effectively in areas such as access, location, quality of accommodations and room rate structures; changes in travel patterns, taxes and government regulations which influence or determine wages, prices, construction procedures and costs; and other risk factors contained in the Company’s filings with the Securities and Exchange Commission. Although the Company believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that the expectations will be attained or that any deviation will not be material. All information in this release is as of the date of this release, and the Company undertakes no obligation to update any forward-looking statement to conform the statement to actual results or changes in the Company’s expectations.

XML

Document and Entity Information	Nov. 16, 2021
Entity Listings [Line Items]
Pre-commencement Issuer Tender Offer	false
Pre-commencement Tender Offer	false
Soliciting Material	false
Written Communications	false
Entity Incorporation, State or Country Code	MD
Entity File Number	001-32514
Document Period End Date	Nov. 16, 2021
Amendment Flag	false
Document Type	8-K
Entity Registrant Name	DiamondRock Hospitality Co
Entity Address, Address Line One	2 Bethesda Metro Center, Suite 1400
Entity Address, City or Town	Bethesda
Entity Address, State or Province	MD
Entity Address, Postal Zip Code	20814
City Area Code	240
Local Phone Number	744-1150
Entity Central Index Key	0001298946
Entity Emerging Growth Company	false
Entity Tax Identification Number	20-1180098
Common Stock, $0.01 par value
Entity Listings [Line Items]
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	DRH
Security Exchange Name	NYSE
8.250% Series A Cumulative Redeemable Preferred Stock, par value $0.01 per share
Entity Listings [Line Items]
Title of 12(b) Security	8.250% Series A Cumulative Redeemable Preferred Stock, par value $0.01 per share
Trading Symbol	DRH Pr A
Security Exchange Name	NYSE