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We own 26 premium hotels and resorts in North
America. These hotels and resorts are primarily
categorized as upper upscale as defined by Smith
Travel Research and are generally located in high
barrier-to-entry markets with multiple demand
generators.
Our properties are concentrated
in five key gateway cities (New York City, Los
Angeles, Chicago, Boston and Atlanta) and in
destination resort locations (such as the U.S.
Virgin Islands and Vail, Colorado). We believe that
gateway cities and destination resorts will achieve
higher long-term growth because they are attractive
business and leisure destinations. We also believe
that these locations are better insulated from new
supply due to relatively high barriers-to-entry,
including expensive construction costs and limited
prime hotel development sites.
We believe
that higher quality lodging assets create more
dynamic cash flow growth and superior long-term
capital appreciation.
In addition, a core
tenet of our strategy is to leverage global hotel
brands. We strongly believe in the value of powerful
global brands because we believe that they are able
to produce incremental revenue and profits compared
to similar unbranded hotels. Dominant global hotel
brands typically have very strong reservation and
reward systems and sales organizations, and all of
our hotels are operated under a brand owned by one
of the top global lodging brand companies (Marriott,
Starwood or Hilton).
Generally, we are interested in owning hotels that
are currently operated under, or can be converted
to, a globally recognized brand. However, we would
consider
owning non-branded hotels in certain
top-tier or unique markets if we believe that the
returns on these hotels would be higher than if the
hotels were operated under a globally recognized
brand.
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DiamondRock Hospitality Company
3 Bethesda Metro Center, Suite 1500, Bethesda, Maryland
20814
Telephone No.: (240) 744-1150
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