ADDED
The registrant had 203,703,182 shares of its $0.01 par value Common Stock outstanding as of February 26, 2026.
Management's Discussion and Analysis of Financial Condition and Results of Operations 40 Item 7A.
Failure to maintain our qualification as a REIT would have significant adverse consequences to the value of our common stock.
Our hotels are subject to risks from natural disasters, climate change, terrorism, pandemics, and other catastrophic events, which may not be fully covered by insurance and could materially and adversely affect our business.
Our use of or failure to adopt advancements in information technology, such as artificial intelligence, may hinder or prevent us from achieving strategic objectives or otherwise harm our business.
We must comply with applicable governmental regulations, including, without limitation, the Americans with Disabilities Act, which could be costly.
Business Overview DiamondRock Hospitality Company is a self-managed and self-administered lodging-focused real estate investment trust ("REIT") that owns a portfolio of premium hotels and resorts.
As of December 31, 2025, we owned 35 hotels with 9,595 rooms located in 26 markets in the United States.
The markets that we target for ownership are those that we believe align with our strategic objectives, which include those in destination markets with constrained supply trends, those that provide geographic diversity relative to our existing portfolio, and those we consider to have high demand growth potential.
Each hotel is positioned to maximize its cash flow and value; accordingly, we choose to operate nearly 40% of our portfolio as an independent hotel and the remainder are operated under a brand owned by one of the leading global lodging brand companies (Marriott International, Hilton Worldwide, or IHG Hotels Resorts).
REMOVED
The registrant had 208,089,563 shares of its $0.01 par value Common Stock outstanding as of February 26, 2025.
Management's Discussion and Analysis of Financial Condition and Results of Operations 44 Item 7A.
Several of our hotels are operated under franchise agreements and we are subject to the risks associated with the franchise brand and the costs associated with maintaining the franchise license, as well as risks associated with concentrating the majority of our portfolio under the Marriott International, Inc., Hilton Worldwide Holdings Inc.
Failure to maintain our qualification as a REIT would have significant adverse consequences to the value of our common stock and our 8.250% Series A Cumulative Redeemable Preferred Stock ( Series A Preferred Stock ).
Natural disasters caused by climate change or otherwise, terrorist attacks, active shooter attacks, significant military actions, outbreaks of contagious diseases, pandemics, or other widespread health emergencies may adversely impact our financial condition and results of operations.
The ability of our stockholders to control our policies and effect a change of control of our company is limited by certain provisions of our charter, our bylaws and by Maryland law.
Business Overview DiamondRock Hospitality Company is a lodging-focused Maryland corporation operating as a REIT for U.S.
As of December 31, 2024, we owned a portfolio of 37 premium hotels and resorts that contain 10,004 guest rooms located in 26 different markets in the United States.
Subsequent to December 31, 2024, we sold the Westin Washington D.C.
The markets that we target are those that we believe align with our strategic objectives, including destination markets with constrained supply trends, those that provide geographic diversity relative to our existing portfolio, and those that are considered to have high growth potential.