DiamondRock Q1 net income $9.2M; comparable revenues up 18% YoY to $240.4M

DiamondRock Hospitality Co

2023-Q1 EPS reported $0.03 revenue$243,553,000

Net income $9.2M ($0.03 diluted EPS); Adjusted FFO $38.0M ($0.18 per diluted share).
Comparable total revenues $240.4M (+18% YoY); RevPAR $185.26 (+16.9% YoY).
Comparable Hotel Adj. EBITDA $61.9M (+15.9% YoY); margin 25.76% (-46 bps YoY, +117 bps vs 2019).
Declared quarterly dividend of $0.03 per common share (unchanged).
Annual meeting: all directors re-elected; Say-on-Pay approved ~88%; KPMG ratified as auditor.

item 2.02 item 5.07 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

DiamondRock Hospitality Co reported the quarter ended March 31, 2023 results: revenue $240.4 million, net income $9.2 million, EPS $0.03.

Period: the quarter ended March 31, 2023
Revenue: $240.4 million
Net income: $9.2 million
EPS: $0.03
Result: reported results

Exact text from the filing

31, 2023. First Quarter 2023 Highlights • Net Income: Net income was $9.2 million and earnings per diluted share was $0.03. • Comparable Revenues: Comparable total revenues were $240.4 million, a 18.0% increase over 2022 and a 14.2% increase over 2019. • Comparable RevPAR: Comparable RevPAR was $185.26, a 16.9% increase over 2022 and a 13.8% increase over 2019. •

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Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

DiamondRock Hospitality Co shareholders approved Election of Directors at the 2023-05-02 meeting.

Proposal: director election
Outcome: passed
Meeting: 2023-05-02

Exact text from the filing

1. The following directors were elected to the Company’s Board of Directors (constituting the entire Board of Directors) to serve until the 2024 annual meeting of stockholders and until their respective successors are duly elected and qualified: Name For Against Abstain Broker Non-Votes William W. McCarten 191,501,908 8,072,466 23,229 2,419,318 Mark W. Brugger 197,478,145 2,096,595 22,863 2,419,318 Timothy R. Chi 181,876,654 17,697,725 23,224 2,419,318 Michael A. Hartmeier 195,289,075 4,285,192 23,336 2,419,318 Kathleen A. Merrill 196,018,653 3,537,011 41,939 2,419,318 William J. Shaw 191,431,646 8,142,732 23,225 2,419,318 Bruce D. Wardinski 193,408,981 6,165,392 23,230 2,419,318 Tabassum S. Zalotrawala 195,850,351 3,704,768 42,484 2,419,318

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Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

DiamondRock Hospitality Co shareholders approved Advisory vote on frequency of executive compensation at the 2023-05-02 meeting.

Proposal: say on pay frequency
Outcome: passed
Meeting: 2023-05-02

Exact text from the filing

3. The Company’s stockholders recommended a frequency of one year for the vote, on a non-binding, advisory basis, on the compensation of the Company’s named executive officers. 1 Year 2 Years 3 Years Abstain 191,837,036 7,203 7,693,666 59,698

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Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

DiamondRock Hospitality Co shareholders approved Advisory vote on executive compensation at the 2023-05-02 meeting.

Proposal: say on pay
Outcome: passed
Meeting: 2023-05-02

Exact text from the filing

2. The Company’s stockholders approved, on a non-binding, advisory basis, the compensation of the Company’s named executive officers. For Against Abstain Broker Non-Votes 184,665,892 14,904,635 27,076 2,419,318

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Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

DiamondRock Hospitality Co shareholders approved Ratification of independent auditor at the 2023-05-02 meeting.

Proposal: auditor ratification
Outcome: passed
Meeting: 2023-05-02

Exact text from the filing

4. The Company’s stockholders ratified the appointment of KPMG LLP as the Company’s independent auditor for the fiscal year ending December 31, 2023. For Against Abstain 197,531,960 4,464,248 20,713

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Source: SEC EDGAR

accession 0001298946-23-000044

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