DiamondRock Hospitality (DRH) FY2025 results: revenue $1.1 billion, down 0.8% on the year
DiamondRock Hospitality Co. (DRH) reported revenue of $1.1 billion for fiscal 2025, the year ended 31 December 2025, down 0.8% on the year before. Net income was $101 million, up 111.1%, and diluted earnings per share $0.44. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2026.
Revenue
$1.1 billion
-0.8% on the year
FY2018FY2025
Operating margin
14.5%
9.8% a year earlier
FY2018FY2025
Net income
$101 million
+111.1% on the year
FY2018FY2025
Diluted EPS
$0.44
+144.4% on the year
FY2018FY2025
this yearthe year beforeHover a bar for its figure.
The year in brief
What management said about the year
Guidance figures: 1 raised, 11 new.
Adjusted FFO per share rose 12.5%: Adjusted FFO per diluted share was $0.27 in the fourth quarter, up 12.5%, and $1.08 for 2025, up 3.8%. Adjusted FFO was $55.9 million for the quarter, up 10.9%.
Total RevPAR rose on out-of-room spend: Comparable Total RevPAR rose 0.6% to $311.00 in the fourth quarter. Comparable RevPAR fell 0.3% to $201.83, and out-of-room revenues rose 2.3%.
Comparable hotel margin up 83 basis points: Comparable Hotel Adjusted EBITDA margin was 27.92% in the fourth quarter, up 83 basis points. For 2025 the margin was 28.32%, up 2 basis points.
Debt is $1.1 billion, all unsecured: Total debt was $1.1 billion across three unsecured term loans at a 5.0% weighted average rate. A $400 million revolver was undrawn at year end.
Fourth-quarter buybacks of $1.6 million: The company repurchased 0.2 million shares in the fourth quarter at $7.93, for $1.6 million. For 2025 it repurchased 4.8 million shares at $7.72, for $37.1 million.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2025
FY2024
FY2023
On the year
Last 8 years
Operating cash flow
244
224
238
+8.6%
Capital expenditure
81.6
81.6
86.3
-0.0%
Free cash flow
162
143
151
+13.5%
Free cash flow margin
14.5%
12.6%
14.1%
Cash from investing
7.5
-112
-121
Cash from financing
-277
-151
-56.7
Share-based compensation
7.4
12.0
8.8
-38.2%
Buybacks
37.1
26.0
2.4
+42.8%
Dividends paid
98.3
25.6
31.9
+284.0%
Dividend per share
$0.36
$0.32
$0.12
+12.5%
Diluted shares, weighted
208m
211m
212m
-1.4%
Shares outstanding at period end
204m
208m
210m
-1.9%
Balance sheet
$ million
FY2025
FY2024
FY2023
On the year
Last 8 years
Shareholders' equity
1,448
1,590
1,642
-9.0%
Non-controlling interest
9.2
8.7
6.9
+5.8%
Debt
1,099
1,095
1,177
+0.3%
Other liabilities
448
478
413
-6.3%
Total liabilities and equity
3,004
3,172
3,239
-5.3%
Fixed assets
2,596
2,631
2,755
-1.3%
Cash and equivalents
68.1
81.4
122
-16.3%
Other assets
339
460
362
-26.2%
Total assets
3,004
3,172
3,239
-5.3%
10-K for the year ended 31 December 2025, filed 27 February 2026: the filing.