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Frenchman’s Reef Marriott Resort & Spa, pictured, and Noni Beach, Autograph Collection have both been closed since Hurricane Irma hit the island in 2017. They ll reopen next year.
Texas-based Aimbridge Hospitality, a global hotel management company, will manage the Frenchman s Reef Marriott Resort & Spa and Noni Beach, Autograph Collection in St. Thomas, which are slated to reopen in the fall of 2022 after a $250 million rebuild.
The property was recently purchased by New York-based Fortress Investment Group, which has retained Aimbridge as the management company. Fortress will spearhead the rebuild and reopening efforts. With 384 rooms, including 28 suites at Frenchman s Reef and 94 rooms including two suites at the adjacent Noni Beach (formerly Morning Star Marriott Beach Resort), the property is the largest on St. Thomas.
DiamondRock Hospitality Company Reports First Quarter Results
Portfolio Turns Cash Flow Positive in March
Completes Frenchman s Reef Transaction
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BETHESDA, Md., May 6, 2021 /PRNewswire/ DiamondRock Hospitality Company (the Company ) (NYSE: DRH), a lodging-focused real estate investment trust that owns a portfolio of 30 premium hotels in the United States, today announced results of operations for the quarter ended March 31, 2021.
First Quarter 2021 Highlights:
Comparable Revenues: Comparable total revenues decreased 57.1% from the comparable period of 2020.
Comparable RevPAR: RevPAR decreased 54.4% from the comparable period of 2020.
Hotel Adjusted EBITDA: Hotel Adjusted EBITDA was ($2.6) million, a 65.8% improvement from the fourth quarter of 2020.
DiamondRock Hospitality Company Reports Fourth Quarter and Full Year 2020 Results
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BETHESDA, Md., Feb. 24, 2021 /PRNewswire/ DiamondRock Hospitality Company (the Company ) (NYSE: DRH), a lodging-focused real estate investment trust that owns a portfolio of 31 premium hotels in the United States, today announced results of operations for the quarter and year ended December 31, 2020.
Fourth Quarter 2020 Highlights:
Comparable Revenues: Comparable total revenues decreased 75.2% from the comparable period of 2019.
Comparable RevPAR: RevPAR decreased 77.1% from the comparable period of 2019.
Hotel Adjusted EBITDA: Hotel Adjusted EBITDA was ($7.6) million, a 56.3% improvement from the third quarter 2020.
Adjusted EBITDA: Adjusted EBITDA was ($14.9) million, a decrease of $77.6 million from 2019.