DiamondRock acquires The Bellmoor Inn & Spa in Rehoboth Beach for $31.0M

DiamondRock Hospitality Co

Acquired fee simple interest in 79-room luxury resort The Bellmoor Inn & Spa in Rehoboth Beach, Delaware for $31.0M, or about $392,000 per key, funded with cash on hand.
Price equals 10.4x trailing-twelve-month Hotel EBITDA (period ended August 2026) and an 8.6% cap rate on Hotel NOI.
Company projects stabilized Hotel NOI yield of roughly 9.5% after asset management initiatives and planned off-season capital improvements.
Acquisition closed October 1, 2026 and was announced October 8, 2026; not expected to materially affect Q4 2026 earnings.
CEO Jeffrey J. Donnelly cites Southern Delaware leisure demand from the Northeast Corridor and barriers to new lodging supply; portfolio now 35 hotels and 9,479 rooms.

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