DRH - DiamondRock Hospitality FFO of $0.23 beats by $0.02 revenue of $255.1M beats by $3.56M

• DiamondRock Hospitality press release ( NYSE: DRH ): Q4 FFO of $0.23 beats by $0.02 .
• Net income was $18.4M and earnings per diluted share was $0.07.
• Revenue of $255.1M (+34.3% Y/Y) beats by $3.56M .
• Comparable total revenues were $256.9M, a 22.6% increase over 2021 and a 9.5% increase over 2019.
• Comparable RevPAR was $195.99, an 18.4% increase over 2021 and a 6.7% increase over 2019.
• Comparable Hotel Adjusted EBITDA was $77.0M, a 61.8% increase over 2021 and a 17.0% increase over 2019.
• Comparable Hotel Adjusted EBITDA margin was 29.96%, a 724 basis point increase over 2021 and a 192 basis point increase over 2019.
• Adjusted EBITDA was $67.4M, a 95.9% increase over 2021 and a 7.5% increase over 2019.
• Outlook: The company expects to spend $100 million to $115 million on capital improvements at its hotels in 2023.

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