Financial Data and Key Metrics Changes - The company reported fourth quarter adjusted FFO of $54.7 million, which is 9% ahead of the midpoint of implied guidance, and adjusted FFO per share was $0.27, exceeding guidance by $0.02 [12][31] - For the full year 2019, adjusted FFO was $217 million, 2.1% ahead of guidance, and adjusted FFO per share was $1.07, $0.03 above the midpoint of guidance [13][31] - Fourth quarter adjusted EBITDA was $62.7 million, surpassing the high-end of implied guidance, while full-year adjusted EBITDA was $260.4 million, exceeding 2018 by $6.3 million [12][31] Business Line Data and Key Metrics Changes - Comparable RevPAR for the portfolio increased by 1.5% in the fourth quarter, driven by a 1.1% increase in average daily rate and a 0.4% increase in occupancy [10][22] - Food and beverage revenues grew by 6.2% for the year, driven by strong banquet activity and recent repositionings of bars and restaurants [11] - Comparable hotel adjusted EBITDA increased by 0.7% in 2019, despite less than 1% RevPAR growth [14] Market Data and Key Metrics Changes - The U.S. lodging industry experienced overall RevPAR growth of 0.7% in the fourth quarter, with demand in major markets increasing by 3.2% [8][9] - The leisure segment in the resort portfolio excelled, with RevPAR up 4.4%, while DiamondRock's destination resorts generated 7.6% RevPAR growth [26][27] - The company expects 2020 RevPAR growth in the range of negative 50 basis points to positive 1%, while total RevPAR is expected to outperform with an increase from positive 50 basis points to positive 3% [17][18] Company Strategy and Development Direction - The company is focusing on increasing its portfolio of destination resorts, which are expected to outperform the national average for the lodging sector [28][35] - DiamondRock has identified $87 million of value-add ROI projects expected to generate an incremental $16 million to $18 million of EBITDA [37] - The company plans to reopen Frenchman's Reef as two distinct resorts, targeting a reopening at the end of 2020, with expectations of $25 million in EBITDA by 2023 [38][16] Management's Comments on Operating Environment and Future Outlook - The management noted that while the economy is expanding, the ongoing trade war with China is impacting corporate demand [6][7] - The company remains optimistic about its positioning in 2020, expecting strong group pace and favorable resort footprint to drive performance [34][19] - Management is closely monitoring the potential impact of the coronavirus on operations but has not adjusted guidance based on it [20][17] Other Important Information - The company had $122.5 million of unrestricted cash on hand and $1.1 billion of total debt outstanding at a weighted average interest rate of 3.8% [32] - DiamondRock announced a dividend of $0.125 per share, marking its 50th regular common dividend [33] Q&A Session Summary Question: Impact of domestic travel avoidance on resort bookings - Management indicated that they have not seen any weakness in destination resort bookings for January and February [42] Question: Concerns about future supply growth in resorts - Management expressed confidence that supply growth in their markets is unlikely due to geographical constraints and legal restrictions [43] Question: Expectations for group performance in 2020 - Management expects group booking pace to settle in the mid-to-high single digits, with destination resorts outperforming the national average [46][47] Question: Wage and benefits increases - Management noted that wage increases are expected to be around 5%, with benefits up 5% to 6% in 2020 [53] Question: Share repurchase strategy - Management remains committed to share repurchases, believing the stock is trading at a discount to NAV [59] Question: Remaining out-of-pocket spend for Frenchman's Reef - Management estimated remaining out-of-pocket costs for Frenchman's Reef to be around $50 million, with potential increases [61]

DiamondRock Hospitality Company (NYSE:DRH) Q3 2019 Earnings Conference Call November 8, 2019 11:00 AM ET Company Participants Briony Quinn – Senior Vice President and Treasurer Mark Brugger – President and Chief Executive Officer Jeff Donnelly – Chief Financial Officer Thomas Healy – Chief Operating Officer and Executive Vice President of Asset Management Conference Call Participants Anthony Powell – Barclays Austin Wurschmidt – KeyBanc Capital Markets Smedes Rose – Citi Patrick Scholes – SunTrust Rich High ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________________ FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 001-32514 DIAMONDROCK HOSPITALITY COMPANY (Exact Name of Registrant as Specified in Its Charter) Maryland 20-1180098 (State o ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________________ FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 001-32514 DIAMONDROCK HOSPITALITY COMPANY (Exact Name of Registrant as Specified in Its Charter) Maryland 20-1180098 (State of Inc ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________________ FORM 10-Q þ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2019 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 001-32514 DIAMONDROCK HOSPITALITY COMPANY (Exact Name of Registrant as Specified in Its Charter) Maryland 20-1180098 (State of In ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________________ FORM 10-K þ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2018 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 001-32514 DIAMONDROCK HOSPITALITY COMPANY (Exact Name of Registrant as Specified in Its Charter) Maryland 20-1180098 (State of Incorpo ...