DIAMONDROCK HOSPITALITY COMPANY ANNOUNCES SALE OF THE COURTYARD BY MARRIOTT NEW YORK MANHATTAN/FIFTH AVENUE
DiamondRock Hospitality Company sold its leasehold interest in the 189-room Courtyard by Marriott New York Manhattan/Fifth Avenue for $33.0 million. The sales price represents a 6.3x multiple on 2025 Hotel Adjusted EBITDA, a 13.3% cap rate, and allows the company to avoid upcoming $12 million in capital expenditures and structural expense headwinds.
Key figures
- Guidance
- FY2026 Adjusted EBITDA $290.2M-$302.2M (lowered by $5.9M); Adjusted FFO $1.10-$1.16 per share (lowered by $0.025)
- Deal Value Usd
- $33.0 million
AI analysis
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