DiamondRock Hospitality Announces The Lexington New York City Has Officially
Joined The Autograph Collection
BETHESDA, Md., Aug. 19, 2013
BETHESDA, Md., Aug.19, 2013 /PRNewswire/ --DiamondRock Hospitality Company
(the "Company") (NYSE: DRH) announced today that the Lexington New York City
hotel has officially joined the Autograph Collection by Marriott
International, Inc. The 725-room hotel is being reinvented with a
transformative $46 million renovation that makes the Lexington one of the most
unique hotels in New York with its Art Deco theme throughout the iconic
building. The hotel is now available through all relevant Marriott
International booking channels and guests enjoy the full benefits of the
Marriott Rewards program.
(Logo: http://photos.prnewswire.com/prnh/20040708/DCTH028 )
Mark W. Brugger, President and Chief Executive Officer of DiamondRock
Hospitality Company, stated, "Today's announcement marks the most significant
milestone in our repositioning of the Lexington. We expect the hotel to be a
top performer for the Company next year as the result of our stylized
renovation combined with the Autograph Collection's ability to harness
Marriott's powerful reservation system and guest loyalty programs. We expect
the Lexington New York City to be a significant growth driver for the Company
in 2014 and beyond."
About the Company
DiamondRock Hospitality Company is a self-advised real estate investment trust
(REIT) that is an owner of a leading portfolio of geographically diversified
hotels concentrated in top gateway markets and destination resort locations.
The Company owns 27 premium quality hotels with over 11,600 rooms. The Company
has strategically positioned its hotels to predominately be operated under the
leading global brands such as Hilton, Marriott, and Westin. For further
information on the Company and its portfolio, please visit DiamondRock
Hospitality Company's website at www.drhc.com.
Exactly like nothing else, the Autograph Collection is an evolving ensemble of
strikingly independent hotels. Each destination has been selected for its
quality, bold originality, rich character and uncommon details. From near to
far, iconic to historic, the result is an array of properties that is nothing
less than unique, nothing short of collectively exceptional. For more
information please visit www.autographhotels.com.
This press release contains forward-looking statements within the meaning of
federal securities laws and regulations. These forward-looking statements are
identified by their use of terms and phrases such as "believe," "expect,"
"intend," "project," "forecast," "plan" and other similar terms and phrases,
including references to assumptions and forecasts of future results.
Forward-looking statements are not guarantees of future performance and
involve known and unknown risks, uncertainties and other factors which may
cause the actual results to differ materially from those anticipated at the
time the forward-looking statements are made. These risks include, but are
not limited to: national and local economic and business conditions, including
the potential for additional terrorist attacks, that will affect occupancy
rates at the Company's hotels and the demand for hotel products and services;
operating risks associated with the hotel business; risks associated with the
level of the Company's indebtedness; relationships with property managers; the
ability to compete effectively in areas such as access, location, quality of
accommodations and room rate structures; changes in travel patterns, taxes and
government regulations which influence or determine wages, prices,
construction procedures and costs; risks associated with the development of a
hotel by a third-party developer; risks associated with the rebranding of the
Lexington Hotel New York; and other risk factors contained in the Company's
filings with the Securities and Exchange Commission. Although the Company
believes the expectations reflected in such forward-looking statements are
based upon reasonable assumptions, it can give no assurance that the
expectations will be attained or that any deviation will not be material. All
information in this release is as of the date of this release, and the Company
undertakes no obligation to update any forward-looking statement to conform
the statement to actual results or changes in the Company's expectations.
SOURCE DiamondRock Hospitality Company
Contact: Sean Mahoney, (240) 744-1150
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