DIAMONDROCK HOSPITALITY COMPANY ACQUIRES THE BELLMOOR INN & SPA
Key Highlights
- ➤DiamondRock acquired The Bellmoor Inn & Spa for $31.0 million.
- ➤79-room resort acquisition implies approximately $392,000 per key.
- ➤Purchase price represents 10.4x Hotel EBITDA and an 8.6% NOI capitalization rate.
- ➤Bellmoor projected to generate approximately 9.5% stabilized Hotel NOI yield.
- ➤Acquisition is not expected to materially affect fourth quarter 2026 earnings.
Expert Statements
Jeffrey J. Donnelly, Chief Executive Officer of DiamondRock Hospitality Company
“The acquisition of The Bellmoor reflects our track record of leveraging long-standing relationships to uncover compelling investment opportunities. Southern Delaware is one of the East Coast's most attractive leisure lodging markets, drawing affluent repeat visitors from the Northeast Corridor and benefiting from significant barriers to new lodging supply. Combined with our attractive acquisition basis and proven asset management platform, we believe these enduring fundamentals position The Bellmoor to generate meaningful free cash flow growth and long-term value for our shareholders.”
DIAMONDROCK HOSPITALITY COMPANY ACQUIRES THE BELLMOOR INN & SPA PR Newswire
BETHESDA, Md., Oct. 8, 2026 /PRNewswire/ -- DiamondRock Hospitality Company (the "Company") announced today its acquisition of the fee simple interest in The Bellmoor Inn & Spa (the "Hotel" or "The Bellmoor"), a 79-room luxury resort in Rehoboth Beach, Delaware, for total consideration of $31.0 million, or approximately $392,000 per key. The acquisition was funded with cash on hand and represents an attractive opportunity to acquire an independent resort in a supply-constrained market with strong in-place cash flow and meaningful operational upside.
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