Press Release

DiamondRock Hospitality Declares Dividend On 8.250% Series A Cumulative Redeemable Preferred Stock


BETHESDA, Md., Sept. 14, 2020 /PRNewswire/ -- DiamondRock Hospitality Company (the "Company") (NYSE: DRH) today announced that its Board of Directors has declared a dividend of $0.1776 per share on its 8.250% Series A Cumulative Redeemable Preferred Stock. The dividend is payable on September 30, 2020 to shareholders of record as of September 20, 2020.  This first dividend on the Series A Cumulative Redeemable Preferred Stock will be a pro rata dividend from, and including, the original issue date to, and including, September 30, 2020.

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 31 premium quality hotels with over 10,000 rooms.  The Company has strategically positioned its hotels to be operated both under leading global brand families such as Hilton and Marriott as well as unique boutique hotels in the lifestyle segment.

This press release contains forward-looking statements within the meaning of federal securities laws and regulations, which reflect the Company's expectations regarding future events and plans, including, but not limited to, statements regarding the amount and timing of the expected dividend payment .  These forward-looking statements are identified by their use of terms and phrases such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "plan," "predict," "project," "should," "will," "continue" 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, without limitation, the risks and uncertainties detailed from time to time in the Company's filings with the SEC, including its Annual Report on Form 10-K filed on February 28, 2020, its Quarterly Report on Form 10-Q for the three months ended March 31, 2020, filed on May 11, 2020 and its Quarterly Report on Form 10-Q for the three months ended June 30, 2020, filed on August 10, 2020. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we 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 we undertake no obligation to update any forward-looking statement to conform the statement to actual results or changes in our expectations.

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SOURCE DiamondRock Hospitality Company

Jeff Donnelly, Chief Financial Officer, (240) 744-1190; Briony Quinn, Senior Vice President, (240) 744-1196