2012 Q1 Form 10-Q Financial Statement

#000144530512001260 Filed on April 30, 2012

View on sec.gov

Income Statement

Concept 2012 Q1 2011 Q1
Revenue $113.4M $101.3M
YoY Change 12.04% 7.55%
Cost Of Revenue $98.50M $86.90M
YoY Change 13.35% -6.05%
Gross Profit $19.90M $16.80M
YoY Change 18.45% -17.24%
Gross Profit Margin 17.54% 16.59%
Selling, General & Admin $4.500M $4.100M
YoY Change 9.76% 20.59%
% of Gross Profit 22.61% 24.4%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $20.50M $21.40M
YoY Change -4.21% 13.23%
% of Gross Profit 103.02% 127.38%
Operating Expenses $24.50M $22.60M
YoY Change 8.41% 1.35%
Operating Profit -$5.104M -$5.974M
YoY Change -14.56% 77.16%
Interest Expense $11.47M $8.818M
YoY Change 30.05% -210.23%
% of Operating Profit
Other Income/Expense, Net -$11.26M -$8.527M
YoY Change 32.06%
Pretax Income -$15.93M -$14.59M
YoY Change 9.15% 45.9%
Income Tax -$5.817M -$3.727M
% Of Pretax Income
Net Earnings $2.615M -$11.04M
YoY Change -123.68% 32.33%
Net Earnings / Revenue 2.31% -10.91%
Basic Earnings Per Share $0.02 -$0.07
Diluted Earnings Per Share $0.02 -$0.07
COMMON SHARES
Basic Shares Outstanding 167.7M shares 164.0M shares
Diluted Shares Outstanding 168.2M shares 164.0M shares

Balance Sheet

Concept 2012 Q1 2011 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $128.6M $186.4M
YoY Change -31.01% 2.76%
Cash & Equivalents $128.6M $186.4M
Short-Term Investments
Other Short-Term Assets $67.40M $70.50M
YoY Change -4.4% 23.25%
Inventory
Prepaid Expenses
Receivables $51.70M $51.20M
Other Receivables $0.00 $0.00
Total Short-Term Assets $247.7M $308.1M
YoY Change -19.6% 6.61%
LONG-TERM ASSETS
Property, Plant & Equipment $2.219B $2.057B
YoY Change 7.91% 11.34%
Goodwill
YoY Change
Intangibles $43.05M
YoY Change
Long-Term Investments
YoY Change
Other Assets $65.80M $83.70M
YoY Change -21.39% 105.65%
Total Long-Term Assets $2.383B $2.241B
YoY Change 6.34% 16.4%
TOTAL ASSETS
Total Short-Term Assets $247.7M $308.1M
Total Long-Term Assets $2.383B $2.241B
Total Assets $2.630B $2.549B
YoY Change 3.2% 15.12%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $41.70M $36.60M
YoY Change 13.93% 20.79%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $90.10M $50.10M
YoY Change 79.84% -28.73%
LONG-TERM LIABILITIES
Long-Term Debt $903.3M $779.1M
YoY Change 15.94% -0.79%
Other Long-Term Liabilities $105.9M $102.3M
YoY Change 3.52% 0.39%
Total Long-Term Liabilities $1.009B $881.4M
YoY Change 14.5% -0.65%
TOTAL LIABILITIES
Total Short-Term Liabilities $90.10M $50.10M
Total Long-Term Liabilities $1.009B $881.4M
Total Liabilities $1.141B $1.012B
YoY Change 12.73% 2.47%
SHAREHOLDERS EQUITY
Retained Earnings -$218.9M
YoY Change
Common Stock $1.708B
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.489B $1.537B
YoY Change
Total Liabilities & Shareholders Equity $2.630B $2.549B
YoY Change 3.2% 15.12%

Cashflow Statement

Concept 2012 Q1 2011 Q1
OPERATING ACTIVITIES
Net Income $2.615M -$11.04M
YoY Change -123.68% 32.33%
Depreciation, Depletion And Amortization $20.50M $21.40M
YoY Change -4.21% 13.23%
Cash From Operating Activities $1.743M $7.656M
YoY Change -77.23% 1176.0%
INVESTING ACTIVITIES
Capital Expenditures -$6.800M -$7.900M
YoY Change -13.92% 71.74%
Acquisitions
YoY Change
Other Investing Activities $88.40M -$41.40M
YoY Change -313.53% 508.82%
Cash From Investing Activities $81.56M -$49.24M
YoY Change -265.64% 331.95%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $2.946M -$146.7M
YoY Change -102.01%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $18.97M $143.8M
YoY Change -86.81% 871.67%
NET CHANGE
Cash From Operating Activities $1.743M $7.656M
Cash From Investing Activities $81.56M -$49.24M
Cash From Financing Activities $18.97M $143.8M
Net Change In Cash $102.3M $102.2M
YoY Change 0.06% 2455.53%
FREE CASH FLOW
Cash From Operating Activities $1.743M $7.656M
Capital Expenditures -$6.800M -$7.900M
Free Cash Flow $8.543M $15.56M
YoY Change -45.08% 199.15%

Facts In Submission

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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Reporting Periods</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The results we report in our condensed consolidated statements of operations are based on results of our hotels reported to us by our hotel managers. Our hotel managers use different reporting periods. Marriott, the manager of most of our properties, uses a fiscal year ending on the Friday closest to December&#160;31 and reports </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">12</font><font style="font-family:inherit;font-size:10pt;">&#160;weeks of operations for each of the first three quarters and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">16</font><font style="font-family:inherit;font-size:10pt;"> or </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">17</font><font style="font-family:inherit;font-size:10pt;">&#160;weeks for the fourth quarter of the year for its domestic managed hotels. In contrast, Marriott, for its non-domestic hotels (including Frenchman&#8217;s Reef), Vail Resorts, manager of the Vail Marriott, Davidson Hotels &amp; Resorts, manager of the Atlanta Westin North at Perimeter, Hilton Hotels Corporation, manager of the Conrad Chicago and Hilton Minneapolis, Westin Hotel Management, L.P., manager of the Westin Boston Waterfront Hotel, Alliance Hospitality Management, manager of the Hilton Garden Inn Chelsea/New York City, Sage Hospitality, manager of the JW Marriott Denver at Cherry Creek and the Courtyard Denver Downtown, and Highgate Hotels, manager of the Lexington Hotel New York, report results on a monthly basis. Additionally, as a REIT, we are required by U.S. federal tax laws to report results on a calendar year basis. As a result, we have adopted the reporting periods used by Marriott for its domestic hotels, except that our fiscal year always ends on December&#160;31 to comply with REIT rules. Our first three fiscal quarters end on the same day as Marriott&#8217;s fiscal quarters but our fourth quarter ends on December&#160;31 and the full year results, as reported in the statement of operations, always include the same number of days as the calendar year.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Two consequences of the reporting cycle we have adopted are: (1)&#160;quarterly start dates will usually differ between years, except for the first quarter which always commences on January&#160;1, and (2)&#160;the first and fourth quarters of operations and year-to-date operations may not include the same number of days as reflected in prior years.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">While the reporting calendar we adopted is more closely aligned with the reporting calendar used by the manager of most of our properties, one final consequence of the calendar is that we are unable to report any results for Frenchman&#8217;s Reef, Vail Marriott, Atlanta Westin North at Perimeter, Conrad Chicago, Westin Boston Waterfront Hotel, Hilton Minneapolis, Hilton Garden Inn Chelsea/New York City, JW Marriott Denver at Cherry Creek, Courtyard Denver Downtown or Lexington Hotel New York for the month of operations that ends after our fiscal quarter-end because none of Westin Hotel Management, L.P., Hilton Hotels Corporation, Davidson Hotels &amp; Resorts, Alliance Hospitality Management, Vail Resorts, Sage Hospitality, Highgate Hotels nor Marriott (with respect to Frenchman&#8217;s Reef) make mid-month results available to us. As a result, our quarterly results of operations include results from these hotels as follows: first quarter (January and February), second quarter (March to May), third quarter (June to August) and fourth quarter (September to December). While this does not affect full-year results, it does affect the reporting of quarterly results.</font></div></div>
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CY2012Q1 us-gaap Line Of Credit Facility Expiration Date
LineOfCreditFacilityExpirationDate
August 2014
CY2012Q1 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
400000000 USD
CY2011Q4 us-gaap Long Term Debt
LongTermDebt
1042933000 USD
CY2012Q1 us-gaap Long Term Debt
LongTermDebt
903331000 USD
CY2012Q1 us-gaap Longterm Debt Weighted Average Interest Rate
LongtermDebtWeightedAverageInterestRate
0.0542
CY2011Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
143807000 USD
CY2012Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
18972000 USD
CY2011Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-49242000 USD
CY2012Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
81564000 USD
CY2012Q1 us-gaap Net Income Loss
NetIncomeLoss
2615000 USD
CY2011Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-8527000 USD
CY2012Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-11261000 USD
CY2011Q4 us-gaap Notes Receivable Net
NotesReceivableNet
54788000 USD
CY2012Q1 us-gaap Notes Receivable Net
NotesReceivableNet
54788000 USD
CY2011Q1 us-gaap Occupancy Costs
OccupancyCosts
20202000 USD
CY2012Q1 us-gaap Occupancy Costs
OccupancyCosts
24879000 USD
CY2011Q1 us-gaap Occupancy Revenue
OccupancyRevenue
69283000 USD
CY2011Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
7656000 USD
CY2012Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
1743000 USD
CY2011Q1 us-gaap Net Income Loss
NetIncomeLoss
-11044000 USD
CY2012Q1 us-gaap Occupancy Revenue
OccupancyRevenue
83388000 USD
CY2012Q1 us-gaap Off Market Lease Unfavorable
OffMarketLeaseUnfavorable
81483000 USD
CY2011Q4 us-gaap Off Market Lease Unfavorable
OffMarketLeaseUnfavorable
81914000 USD
CY2011Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-6063000 USD
CY2012Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-4480000 USD
CY2011Q4 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
1900000 USD
CY2012Q1 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
600000 USD
CY2012Q1 us-gaap Other Amortization Of Deferred Charges
OtherAmortizationOfDeferredCharges
-432000 USD
CY2011Q1 us-gaap Other Amortization Of Deferred Charges
OtherAmortizationOfDeferredCharges
-426000 USD
CY2012Q1 us-gaap Other Direct Costs Of Hotels
OtherDirectCostsOfHotels
49003000 USD
CY2011Q1 us-gaap Other Direct Costs Of Hotels
OtherDirectCostsOfHotels
41399000 USD
CY2011Q1 us-gaap Other Hotel Operating Revenue
OtherHotelOperatingRevenue
5291000 USD
CY2012Q1 us-gaap Other Hotel Operating Revenue
OtherHotelOperatingRevenue
6783000 USD
CY2011Q1 us-gaap Owned Property Management Costs
OwnedPropertyManagementCosts
2748000 USD
CY2012Q1 us-gaap Owned Property Management Costs
OwnedPropertyManagementCosts
3142000 USD
CY2012Q1 us-gaap Payments For Derivative Instrument Financing Activities
PaymentsForDerivativeInstrumentFinancingActivities
934000 USD
CY2011Q1 us-gaap Payments For Derivative Instrument Financing Activities
PaymentsForDerivativeInstrumentFinancingActivities
0 USD
CY2012Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
2946000 USD
CY2011Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
3095000 USD
CY2011Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
77000 USD
CY2012Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
13457000 USD
CY2011Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
0 USD
CY2012Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
4350000 USD
CY2012Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
6791000 USD
CY2011Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
7882000 USD
CY2012Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2011Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2011Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2012Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2012Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2011Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2012Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2011Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2012Q1 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2012Q1 us-gaap Proceeds From Other Debt
ProceedsFromOtherDebt
170368000 USD
CY2011Q1 us-gaap Proceeds From Other Debt
ProceedsFromOtherDebt
0 USD
CY2011Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
0 USD
CY2011Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2011Q4 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
65900000 USD
CY2012Q1 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
67372000 USD
CY2011Q1 us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
100000 USD
CY2012Q1 us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
0 USD
CY2011Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
149841000 USD
CY2012Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 USD
CY2011Q1 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
0 USD
CY2012Q1 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
40000000 USD
CY2012Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
92631000 USD
CY2012Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
2673080000 USD
CY2011Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
2667682000 USD
CY2012Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2219198000 USD
CY2011Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2234504000 USD
CY2011Q1 us-gaap Recognition Of Deferred Revenue
RecognitionOfDeferredRevenue
130000 USD
CY2012Q1 us-gaap Recognition Of Deferred Revenue
RecognitionOfDeferredRevenue
210000 USD
CY2011Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
0 USD
CY2012Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
140000000 USD
CY2011Q1 us-gaap Repayments Of Other Debt
RepaymentsOfOtherDebt
0 USD
CY2012Q1 us-gaap Repayments Of Other Debt
RepaymentsOfOtherDebt
26963000 USD
CY2012Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
56099000 USD
CY2011Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
53871000 USD
CY2012Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-218865000 USD
CY2011Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-207945000 USD
CY2012Q1 us-gaap Revenue From Leased And Owned Hotels
RevenueFromLeasedAndOwnedHotels
121422000 USD
CY2011Q1 us-gaap Revenue From Leased And Owned Hotels
RevenueFromLeasedAndOwnedHotels
103753000 USD
CY2011Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0 USD
CY2011Q4 us-gaap Secured Debt
SecuredDebt
762933000 USD
CY2012Q1 us-gaap Secured Debt
SecuredDebt
903331000 USD
CY2011Q4 us-gaap Settlement Liabilities Current
SettlementLiabilitiesCurrent
1700000 USD
CY2011Q1 us-gaap Share Based Compensation
ShareBasedCompensation
936000 USD
CY2012Q1 us-gaap Share Based Compensation
ShareBasedCompensation
940000 USD
CY2012Q1 us-gaap Stockholders Equity
StockholdersEquity
1489304000 USD
CY2011Q4 us-gaap Stockholders Equity
StockholdersEquity
1502157000 USD
CY2012Q1 us-gaap Units Of Partnership Interest Amount
UnitsOfPartnershipInterestAmount
0 shares
CY2011Q4 us-gaap Units Of Partnership Interest Amount
UnitsOfPartnershipInterestAmount
0 shares
CY2012Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0 USD
CY2012Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Use of Estimates</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimat</font></div></div>
CY2011Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
163997743 shares
CY2012Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
168172549 shares
CY2012Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
167666741 shares
CY2011Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
163997743 shares
CY2012Q1 drh Assets Held For Sale Contractual Purchase Price
AssetsHeldForSaleContractualPurchasePrice
262500000 USD
CY2012Q1 drh Buyer Assumption Of Mortgage Debt On Sale Of Hotels
BuyerAssumptionOfMortgageDebtOnSaleOfHotels
180000000 USD
CY2011Q1 drh Buyer Assumption Of Mortgage Debt On Sale Of Hotels
BuyerAssumptionOfMortgageDebtOnSaleOfHotels
0 USD
CY2012Q1 drh Deposit On Mortgage Loan Financing
DepositOnMortgageLoanFinancing
0 USD
CY2011Q1 drh Deposit On Mortgage Loan Financing
DepositOnMortgageLoanFinancing
1125000 USD
CY2012Q1 drh Due To From Hotel Managers
DueToFromHotelManagers
2493000 USD
CY2011Q4 drh Due To Managers
DueToManagers
41676000 USD
CY2012Q1 drh Due To Managers
DueToManagers
41740000 USD
CY2012Q1 drh Depreciation And Amortization From Continuing Operations
DepreciationAndAmortizationFromContinuingOperations
20518000 USD
CY2011Q1 drh Depreciation And Amortization From Continuing Operations
DepreciationAndAmortizationFromContinuingOperations
18549000 USD
CY2012Q1 drh Disposal Group Including Discontinued Operation Depreciation And Amortization
DisposalGroupIncludingDiscontinuedOperationDepreciationAndAmortization
0 USD
CY2011Q1 drh Disposal Group Including Discontinued Operation Depreciation And Amortization
DisposalGroupIncludingDiscontinuedOperationDepreciationAndAmortization
2803000 USD
CY2012Q1 drh Disposal Group Including Discontinued Operation Interest Income
DisposalGroupIncludingDiscontinuedOperationInterestIncome
1000 USD
CY2011Q1 drh Disposal Group Including Discontinued Operation Interest Income
DisposalGroupIncludingDiscontinuedOperationInterestIncome
6000 USD
CY2012Q1 drh Due From Managers
DueFromManagers
51674000 USD
CY2011Q4 drh Due From Managers
DueFromManagers
50728000 USD
CY2011Q1 drh Due To From Hotel Managers
DueToFromHotelManagers
57000 USD
CY2012Q1 drh Line Of Credit Facility Covenant Capitalization Rate
LineOfCreditFacilityCovenantCapitalizationRate
0.085
CY2012Q1 drh Line Of Credit Facility Covenant Minimum Number Of Unencumbered Borrowing Base Properties
LineOfCreditFacilityCovenantMinimumNumberOfUnencumberedBorrowingBaseProperties
5 hotels
CY2012Q1 drh Line Of Credit Facility Covenant Minimum Unencumbered Borrowing Base Value
LineOfCreditFacilityCovenantMinimumUnencumberedBorrowingBaseValue
250000000 USD
CY2012Q1 drh Line Of Credit Facility Covnenant Percent Of Net Proceeds From Future Equity Issuances
LineOfCreditFacilityCovnenantPercentOfNetProceedsFromFutureEquityIssuances
0.85
CY2011Q1 drh Line Of Credit Facility Interest And Commitment Fee Amount
LineOfCreditFacilityInterestAndCommitmentFeeAmount
200000 USD
CY2012Q1 drh Line Of Credit Facility Interest And Commitment Fee Amount
LineOfCreditFacilityInterestAndCommitmentFeeAmount
800000 USD
CY2012Q1 drh Line Of Credit Facility Leverage Ratio
LineOfCreditFacilityLeverageRatio
5.0
CY2012Q1 drh Long Term Debt Components Mortgage Loan
LongTermDebtComponentsMortgageLoan
903331000 USD
CY2011Q4 drh Mortgage Debt Of Assets Held For Sale
MortgageDebtOfAssetsHeldForSale
180000000 USD
CY2012Q1 drh Mortgage Debt Of Assets Held For Sale
MortgageDebtOfAssetsHeldForSale
0 USD
CY2012Q1 drh Mortgage Loan Receivable Interest Rate Margin Above Libor
MortgageLoanReceivableInterestRateMarginAboveLibor
0.0692
CY2012Q1 drh Non Cash Ground Rent
NonCashGroundRent
1531000 USD
CY2011Q1 drh Non Cash Ground Rent
NonCashGroundRent
1566000 USD
CY2012Q1 drh Number Of Hotel Properties
NumberOfHotelProperties
23 hotels
CY2012Q1 drh Number Of Hotel Properties Secured By Mortgage Debt
NumberOfHotelPropertiesSecuredByMortgageDebt
11 hotels
CY2012Q1 drh Number Of Hotels And Resorts Owned
NumberOfHotelsAndResortsOwned
23 hotelsandresorts
CY2012Q1 drh Number Of Rooms In Hotel That Secures Senior Loan We Own
NumberOfRoomsInHotelThatSecuresSeniorLoanWeOwn
443 rooms
CY2010Q2 drh Number Of Rooms In Hotel That Secures Senior Loan We Own
NumberOfRoomsInHotelThatSecuresSeniorLoanWeOwn
443
CY2012Q1 drh Number Of Rooms In Hotels And Resorts Owned
NumberOfRoomsInHotelsAndResortsOwned
10406 rooms
CY2012Q1 drh Operating Partnership Units Option To Redeem For Common Stock Ratio
OperatingPartnershipUnitsOptionToRedeemForCommonStockRatio
1
CY2012Q1 drh Percent Of Unused Portion Line Of Credit Facility Trigerring Commitment Fee Percentage
PercentOfUnusedPortionLineOfCreditFacilityTrigerringCommitmentFeePercentage
0.50
CY2012Q1 drh Proceeds Of Hotel Working Capital And Cash Previously Held In Restricted Escrow Accounts Net Of Closing Costs
ProceedsOfHotelWorkingCapitalAndCashPreviouslyHeldInRestrictedEscrowAccountsNetOfClosingCosts
10000000 USD
CY2011Q1 drh Receipt Of Deferred Key Money
ReceiptOfDeferredKeyMoney
0 USD
CY2012Q1 drh Receipt Of Deferred Key Money
ReceiptOfDeferredKeyMoney
62000 USD
CY2012Q1 drh Weeks In First Three Reporting Quarters
WeeksInFirstThreeReportingQuarters
12 weeks
CY2012Q1 dei Amendment Flag
AmendmentFlag
false
CY2011Q4 drh Total Other Liabilities
TotalOtherLiabilities
253545000 USD
CY2012Q1 drh Total Other Liabilities
TotalOtherLiabilities
237817000 USD
CY2012Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2012Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2012Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2012
CY2012Q1 dei Document Period End Date
DocumentPeriodEndDate
2012-03-23
CY2012Q1 dei Document Type
DocumentType
10-Q
CY2012Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001298946
CY2012Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
167918292 shares
CY2012Q1 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2012Q1 dei Entity Registrant Name
EntityRegistrantName
DiamondRock Hospitality Co

Files In Submission

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