DIAMONDROCK HOSPITALITY COMPANY COMPLETES SALE OF THE WESTIN WASHINGTON, D.C. CITY CENTER

Company Overview - DiamondRock Hospitality Company is a self-advised real estate investment trust (REIT) that owns a diversified portfolio of hotels concentrated in leisure destinations and top gateway markets, currently owning 36 premium quality hotels and resorts with approximately 9,600 rooms [3] Recent Transaction - On February 19, 2025, the company completed the sale of the 410-room Westin Washington, D.C. City Center for a contract price of $92.0 million, representing an 11.2x multiple on 2024 Hotel EBITDA and a 7.5% capitalization rate on 2024 Hotel net operating income [1] - Excluding a one-time property tax credit and temporary discount on franchise fees, the sales price represents an 11.9x multiple on 2024 Hotel EBITDA and a 7.0% capitalization rate on 2024 Hotel net operating income [1] Strategic Intent - The sale of the Westin D.C. City Center is part of the company's strategy to drive long-term earnings and cash flow per share growth, with plans to prudently redeploy the proceeds to create exceptional value for shareholders [2]