$DRH
DiamondRock Hospitality Co

2012 Q2 Form 10-Q Financial Statement

#000144530512002263 Filed on July 25, 2012

View on sec.gov

Income Statement

Concept 2012 Q2 2011 Q2
Revenue $175.6M $145.9M
YoY Change 20.31% 10.65%
Cost Of Revenue $130.8M $107.0M
YoY Change 22.24% -5.64%
Gross Profit $50.20M $36.40M
YoY Change 37.91% -3.45%
Gross Profit Margin 28.59% 24.94%
Selling, General & Admin $5.000M $4.400M
YoY Change 13.64% 22.22%
% of Gross Profit 9.96% 12.09%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $20.60M $21.60M
YoY Change -4.63% 13.09%
% of Gross Profit 41.04% 59.34%
Operating Expenses $25.10M $22.40M
YoY Change 12.05% -1.32%
Operating Profit $21.87M $12.01M
YoY Change 82.07% -3.81%
Interest Expense $12.51M $10.02M
YoY Change 24.91% -9.69%
% of Operating Profit 57.21% 83.39%
Other Income/Expense, Net -$12.36M -$9.752M
YoY Change 26.69% -9.73%
Pretax Income $10.22M $2.549M
YoY Change 301.1% -35.16%
Income Tax $1.739M $3.278M
% Of Pretax Income 17.01% 128.6%
Net Earnings $8.944M -$556.0K
YoY Change -1708.63% -166.27%
Net Earnings / Revenue 5.09% -0.38%
Basic Earnings Per Share $0.05 $0.00
Diluted Earnings Per Share $0.05 $0.00
COMMON SHARES
Basic Shares Outstanding 168.0M shares 167.4M shares
Diluted Shares Outstanding 168.3M shares 167.4M shares

Balance Sheet

Concept 2012 Q2 2011 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $104.8M $20.90M
YoY Change 401.44% -86.55%
Cash & Equivalents $104.8M $20.92M
Short-Term Investments
Other Short-Term Assets $69.90M $75.20M
YoY Change -7.05% 24.71%
Inventory
Prepaid Expenses
Receivables $67.40M $60.30M
Other Receivables $0.00 $0.00
Total Short-Term Assets $242.1M $156.4M
YoY Change 54.8% -44.52%
LONG-TERM ASSETS
Property, Plant & Equipment $2.207B $2.462B
YoY Change -10.34% 23.71%
Goodwill
YoY Change
Intangibles $42.36M $43.83M
YoY Change -3.35% 18.54%
Long-Term Investments
YoY Change
Other Assets $70.00M $82.70M
YoY Change -15.36% 87.1%
Total Long-Term Assets $2.374B $2.646B
YoY Change -10.27% 24.12%
TOTAL ASSETS
Total Short-Term Assets $242.1M $156.4M
Total Long-Term Assets $2.374B $2.646B
Total Assets $2.616B $2.802B
YoY Change -6.64% 16.11%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $44.00M $37.40M
YoY Change 17.65% -4.83%
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 $44.20M $50.90M
YoY Change -13.16% 29.52%
LONG-TERM LIABILITIES
Long-Term Debt $900.6M $1.036B
YoY Change -13.08% 32.19%
Other Long-Term Liabilities $105.5M $103.5M
YoY Change 1.93% 2.07%
Total Long-Term Liabilities $1.006B $1.140B
YoY Change -11.71% 28.74%
TOTAL LIABILITIES
Total Short-Term Liabilities $44.20M $50.90M
Total Long-Term Liabilities $1.006B $1.140B
Total Liabilities $1.130B $1.278B
YoY Change -11.6% 27.83%
SHAREHOLDERS EQUITY
Retained Earnings -$223.5M -$184.8M
YoY Change 20.91% 27.98%
Common Stock $1.710B $1.709B
YoY Change 0.06% 9.68%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.486B $1.524B
YoY Change
Total Liabilities & Shareholders Equity $2.616B $2.802B
YoY Change -6.64% 16.11%

Cashflow Statement

Concept 2012 Q2 2011 Q2
OPERATING ACTIVITIES
Net Income $8.944M -$556.0K
YoY Change -1708.63% -166.27%
Depreciation, Depletion And Amortization $20.60M $21.60M
YoY Change -4.63% 13.09%
Cash From Operating Activities $17.10M $10.60M
YoY Change 61.32% -19.7%
INVESTING ACTIVITIES
Capital Expenditures -$8.400M -$13.40M
YoY Change -37.31% 131.03%
Acquisitions
YoY Change
Other Investing Activities -$2.900M -$361.1M
YoY Change -99.2% 66.41%
Cash From Investing Activities -$11.30M -$374.6M
YoY Change -96.98% 68.13%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -29.60M 198.4M
YoY Change -114.92% 8.06%
NET CHANGE
Cash From Operating Activities 17.10M 10.60M
Cash From Investing Activities -11.30M -374.6M
Cash From Financing Activities -29.60M 198.4M
Net Change In Cash -23.80M -165.6M
YoY Change -85.63% 536.92%
FREE CASH FLOW
Cash From Operating Activities $17.10M $10.60M
Capital Expenditures -$8.400M -$13.40M
Free Cash Flow $25.50M $24.00M
YoY Change 6.25% 26.32%

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-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Marriott recently announced preliminary plans to change its current fiscal year to a calendar year effective January 1, 2013. Marriott expects to make the fiscal year change on a prospective basis and will not adjust the prior year operating results. The change to Marriott's fiscal year will not impact the Company's full year results, which are currently reported on a calendar year. However, the preliminary change will impact the prior year comparability of each of our 2013 fiscal quarters.</font></div><div style="line-height:120%;text-align:justify;text-indent:32px;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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CY2012Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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10792000 USD
us-gaap Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
-0.01
CY2012Q2 us-gaap Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
0.05
us-gaap Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
-0.07
CY2011Q2 us-gaap Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
-0.00
CY2011Q2 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-0.00
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-0.01
CY2012Q2 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.05
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-0.07
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-0.07
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-0.01
CY2012Q2 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.05
CY2011Q2 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-0.00
CY2012Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
0 USD
CY2011Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
173000 USD
us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
12582000 USD
us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
-8000 USD
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic And Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare
0.08
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic And Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare
-0.00
CY2012Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic And Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare
0.00
CY2011Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic And Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare
0.00
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
-0.00
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.08
CY2012Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.00
CY2011Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.00
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.08
CY2012Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.00
CY2011Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.00
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-3926000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-449000 USD
CY2012Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1848000 USD
CY2011Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3278000 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
629000 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
1153000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-4929000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-8567000 USD
us-gaap Increase Decrease In Earnest Money Deposits Outstanding
IncreaseDecreaseInEarnestMoneyDepositsOutstanding
22300000 USD
us-gaap Increase Decrease In Earnest Money Deposits Outstanding
IncreaseDecreaseInEarnestMoneyDepositsOutstanding
1898000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
2852000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1723000 USD
us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
5819000 USD
us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
15762000 USD
us-gaap Increase Decrease In Restricted Cash For Operating Activities
IncreaseDecreaseInRestrictedCashForOperatingActivities
1975000 USD
us-gaap Increase Decrease In Restricted Cash For Operating Activities
IncreaseDecreaseInRestrictedCashForOperatingActivities
2794000 USD
CY2012Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
42355000 USD
CY2011Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
43285000 USD
CY2012Q2 us-gaap Interest Expense
InterestExpense
12510000 USD
CY2011Q2 us-gaap Interest Expense
InterestExpense
10015000 USD
us-gaap Interest Expense
InterestExpense
18833000 USD
us-gaap Interest Expense
InterestExpense
23978000 USD
us-gaap Interest Paid
InterestPaid
24426000 USD
us-gaap Interest Paid
InterestPaid
27733000 USD
us-gaap Interest Paid Capitalized
InterestPaidCapitalized
543000 USD
us-gaap Interest Paid Capitalized
InterestPaidCapitalized
548000 USD
CY2012Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
154000 USD
CY2011Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
263000 USD
us-gaap Investment Income Interest
InvestmentIncomeInterest
555000 USD
us-gaap Investment Income Interest
InvestmentIncomeInterest
217000 USD
CY2012Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
2616176000 USD
CY2011Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
2798635000 USD
CY2012Q2 us-gaap Liabilities Of Assets Held For Sale
LiabilitiesOfAssetsHeldForSale
0 USD
CY2011Q4 us-gaap Liabilities Of Assets Held For Sale
LiabilitiesOfAssetsHeldForSale
3805000 USD
CY2012Q2 us-gaap Line Of Credit
LineOfCredit
0 USD
CY2011Q4 us-gaap Line Of Credit
LineOfCredit
100000000 USD
CY2012Q2 us-gaap Line Of Credit Facility Amount Outstanding
LineOfCreditFacilityAmountOutstanding
0 USD
us-gaap Line Of Credit Facility Commitment Fee Description
LineOfCreditFacilityCommitmentFeeDescription
In addition to the interest payable on amounts outstanding under the facility, we are required to pay an amount equal to 0.40% of the unused portion of the facility if the unused portion of the facility is greater than 50% or 0.30% if the unused portion of the facility is less than or equal to 50%.
CY2012Q2 us-gaap Line Of Credit Facility Current Borrowing Capacity
LineOfCreditFacilityCurrentBorrowingCapacity
200000000 USD
us-gaap Line Of Credit Facility Expiration Date
LineOfCreditFacilityExpirationDate
August 2014
CY2012Q2 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
400000000 USD
us-gaap Loans Assumed1
LoansAssumed1
0 USD
us-gaap Loans Assumed1
LoansAssumed1
43879000 USD
CY2012Q2 us-gaap Long Term Debt
LongTermDebt
900624000 USD
CY2011Q4 us-gaap Long Term Debt
LongTermDebt
1042933000 USD
CY2012Q2 us-gaap Longterm Debt Weighted Average Interest Rate
LongtermDebtWeightedAverageInterestRate
0.0549
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
342203000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-10594000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-423826000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
70287000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
18840000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
18340000 USD
us-gaap Net Income Loss
NetIncomeLoss
11559000 USD
us-gaap Net Income Loss
NetIncomeLoss
-11599000 USD
CY2011Q2 us-gaap Net Income Loss
NetIncomeLoss
-556000 USD
CY2012Q2 us-gaap Net Income Loss
NetIncomeLoss
8944000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-18278000 USD
CY2011Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-9752000 USD
CY2012Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-12356000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-23617000 USD
CY2012Q2 us-gaap Notes Receivable Net
NotesReceivableNet
54485000 USD
CY2011Q4 us-gaap Notes Receivable Net
NotesReceivableNet
54788000 USD
CY2011Q2 us-gaap Occupancy Costs
OccupancyCosts
25894000 USD
CY2012Q2 us-gaap Occupancy Costs
OccupancyCosts
33422000 USD
us-gaap Occupancy Costs
OccupancyCosts
58301000 USD
us-gaap Occupancy Costs
OccupancyCosts
46096000 USD
CY2012Q2 us-gaap Occupancy Revenue
OccupancyRevenue
126973000 USD
CY2011Q2 us-gaap Occupancy Revenue
OccupancyRevenue
101213000 USD
us-gaap Occupancy Revenue
OccupancyRevenue
170496000 USD
us-gaap Occupancy Revenue
OccupancyRevenue
210361000 USD
CY2012Q2 us-gaap Off Market Lease Unfavorable
OffMarketLeaseUnfavorable
81050000 USD
CY2011Q4 us-gaap Off Market Lease Unfavorable
OffMarketLeaseUnfavorable
81914000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
18668000 USD
CY2011Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
12301000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
6238000 USD
CY2012Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
23148000 USD
CY2011Q4 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
1900000 USD
CY2012Q2 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
700000 USD
us-gaap Other Amortization Of Deferred Charges
OtherAmortizationOfDeferredCharges
-852000 USD
us-gaap Other Amortization Of Deferred Charges
OtherAmortizationOfDeferredCharges
-864000 USD
us-gaap Other Direct Costs Of Hotels
OtherDirectCostsOfHotels
110093000 USD
us-gaap Other Direct Costs Of Hotels
OtherDirectCostsOfHotels
93054000 USD
CY2012Q2 us-gaap Other Direct Costs Of Hotels
OtherDirectCostsOfHotels
61089000 USD
CY2011Q2 us-gaap Other Direct Costs Of Hotels
OtherDirectCostsOfHotels
51655000 USD
us-gaap Other Hotel Operating Revenue
OtherHotelOperatingRevenue
17450000 USD
CY2012Q2 us-gaap Other Hotel Operating Revenue
OtherHotelOperatingRevenue
10667000 USD
CY2011Q2 us-gaap Other Hotel Operating Revenue
OtherHotelOperatingRevenue
7121000 USD
us-gaap Other Hotel Operating Revenue
OtherHotelOperatingRevenue
12412000 USD
CY2011Q2 us-gaap Owned Property Management Costs
OwnedPropertyManagementCosts
6357000 USD
CY2012Q2 us-gaap Owned Property Management Costs
OwnedPropertyManagementCosts
6616000 USD
us-gaap Owned Property Management Costs
OwnedPropertyManagementCosts
9105000 USD
us-gaap Owned Property Management Costs
OwnedPropertyManagementCosts
9758000 USD
us-gaap Payments For Derivative Instrument Financing Activities
PaymentsForDerivativeInstrumentFinancingActivities
0 USD
us-gaap Payments For Derivative Instrument Financing Activities
PaymentsForDerivativeInstrumentFinancingActivities
934000 USD
us-gaap Payments For Legal Settlements
PaymentsForLegalSettlements
0 USD
us-gaap Payments For Legal Settlements
PaymentsForLegalSettlements
1709000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
2946000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
3095000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
13505000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
40373000 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
4375000 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
2234000 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
15171000 USD
us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
0 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
21345000 USD
CY2011Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2012Q2 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2011Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2012Q2 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
CY2012Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2012Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2011Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2012Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
drh Percent Of Unused Portion Line Of Credit Facility Trigerring Commitment Fee Percentage
PercentOfUnusedPortionLineOfCreditFacilityTrigerringCommitmentFeePercentage
0.50
us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
366792000 USD
CY2011Q4 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
65900000 USD
CY2012Q2 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
69875000 USD
us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
303000 USD
us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
605000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
149674000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 USD
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
115000000 USD
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
40000000 USD
us-gaap Proceeds From Other Debt
ProceedsFromOtherDebt
170368000 USD
us-gaap Proceeds From Other Debt
ProceedsFromOtherDebt
100000000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
92631000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
0 USD
CY2012Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
92631000 USD
CY2011Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
2667682000 USD
CY2012Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
2681505000 USD
CY2011Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2234504000 USD
CY2012Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2207203000 USD
us-gaap Recognition Of Deferred Revenue
RecognitionOfDeferredRevenue
426000 USD
us-gaap Recognition Of Deferred Revenue
RecognitionOfDeferredRevenue
403000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
0 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
140000000 USD
us-gaap Repayments Of Other Debt
RepaymentsOfOtherDebt
26963000 USD
us-gaap Repayments Of Other Debt
RepaymentsOfOtherDebt
0 USD
CY2012Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
61026000 USD
CY2011Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
53871000 USD
CY2011Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-207945000 USD
CY2012Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-223459000 USD
us-gaap Revenue From Leased And Owned Hotels
RevenueFromLeasedAndOwnedHotels
253920000 USD
us-gaap Revenue From Leased And Owned Hotels
RevenueFromLeasedAndOwnedHotels
306969000 USD
CY2011Q2 us-gaap Revenue From Leased And Owned Hotels
RevenueFromLeasedAndOwnedHotels
150168000 USD
CY2012Q2 us-gaap Revenue From Leased And Owned Hotels
RevenueFromLeasedAndOwnedHotels
185547000 USD
CY2012Q2 us-gaap Secured Debt
SecuredDebt
900624000 USD
CY2011Q4 us-gaap Secured Debt
SecuredDebt
762933000 USD
CY2011Q4 us-gaap Settlement Liabilities Current
SettlementLiabilitiesCurrent
1700000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
2262000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
2301000 USD
CY2012Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Shares Issued In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod
12104 shares
CY2011Q4 us-gaap Stockholders Equity
StockholdersEquity
1502157000 USD
CY2012Q2 us-gaap Stockholders Equity
StockholdersEquity
1486099000 USD
CY2012Q2 us-gaap Units Of Partnership Interest Amount
UnitsOfPartnershipInterestAmount
0 shares
CY2011Q4 us-gaap Units Of Partnership Interest Amount
UnitsOfPartnershipInterestAmount
0 shares
CY2012Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0 USD
CY2011Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0 USD
us-gaap Use Of Estimates
UseOfEstimates
<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;">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 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>
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
168254868 shares
CY2012Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
168326042 shares
CY2011Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
167404379 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
165701061 shares
CY2011Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
167404379 shares
CY2012Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
167968579 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
167818564 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
165701061 shares
CY2012Q1 drh Assets Held For Sale Contractual Purchase Price
AssetsHeldForSaleContractualPurchasePrice
262500000 USD
drh Buyer Assumption Of Mortgage Debt On Sale Of Hotels
BuyerAssumptionOfMortgageDebtOnSaleOfHotels
180000000 USD
drh Buyer Assumption Of Mortgage Debt On Sale Of Hotels
BuyerAssumptionOfMortgageDebtOnSaleOfHotels
0 USD
CY2012Q2 drh Depreciation And Amortization From Continuing Operations
DepreciationAndAmortizationFromContinuingOperations
20571000 USD
drh Depreciation And Amortization From Continuing Operations
DepreciationAndAmortizationFromContinuingOperations
37436000 USD
drh Depreciation And Amortization From Continuing Operations
DepreciationAndAmortizationFromContinuingOperations
41089000 USD
CY2011Q2 drh Depreciation And Amortization From Continuing Operations
DepreciationAndAmortizationFromContinuingOperations
18887000 USD
CY2011Q2 drh Disposal Group Including Discontinued Operation Depreciation And Amortization
DisposalGroupIncludingDiscontinuedOperationDepreciationAndAmortization
2795000 USD
drh Disposal Group Including Discontinued Operation Depreciation And Amortization
DisposalGroupIncludingDiscontinuedOperationDepreciationAndAmortization
0 USD
CY2012Q2 drh Disposal Group Including Discontinued Operation Depreciation And Amortization
DisposalGroupIncludingDiscontinuedOperationDepreciationAndAmortization
0 USD
drh Disposal Group Including Discontinued Operation Depreciation And Amortization
DisposalGroupIncludingDiscontinuedOperationDepreciationAndAmortization
5598000 USD
CY2011Q2 drh Disposal Group Including Discontinued Operation Interest Income
DisposalGroupIncludingDiscontinuedOperationInterestIncome
4000 USD
CY2012Q2 drh Disposal Group Including Discontinued Operation Interest Income
DisposalGroupIncludingDiscontinuedOperationInterestIncome
0 USD
drh Disposal Group Including Discontinued Operation Interest Income
DisposalGroupIncludingDiscontinuedOperationInterestIncome
11000 USD
drh Disposal Group Including Discontinued Operation Interest Income
DisposalGroupIncludingDiscontinuedOperationInterestIncome
1000 USD
CY2011Q4 drh Due From Managers
DueFromManagers
50728000 USD
CY2012Q2 drh Due From Managers
DueFromManagers
67433000 USD
drh Due To From Hotel Managers
DueToFromHotelManagers
15945000 USD
drh Due To From Hotel Managers
DueToFromHotelManagers
7590000 USD
CY2012Q2 drh Due To Managers
DueToManagers
44049000 USD
CY2011Q4 drh Due To Managers
DueToManagers
41676000 USD
drh Line Of Credit Facility Covenant Capitalization Rate
LineOfCreditFacilityCovenantCapitalizationRate
0.085
drh Line Of Credit Facility Covenant Minimum Number Of Unencumbered Borrowing Base Properties
LineOfCreditFacilityCovenantMinimumNumberOfUnencumberedBorrowingBaseProperties
5 hotels
drh Line Of Credit Facility Covenant Minimum Unencumbered Borrowing Base Value
LineOfCreditFacilityCovenantMinimumUnencumberedBorrowingBaseValue
250000000 USD
drh Line Of Credit Facility Covnenant Percent Of Net Proceeds From Future Equity Issuances
LineOfCreditFacilityCovnenantPercentOfNetProceedsFromFutureEquityIssuances
0.85
CY2012Q2 drh Line Of Credit Facility Interest And Commitment Fee Amount
LineOfCreditFacilityInterestAndCommitmentFeeAmount
200000 USD
CY2011Q2 drh Line Of Credit Facility Interest And Commitment Fee Amount
LineOfCreditFacilityInterestAndCommitmentFeeAmount
500000 USD
drh Line Of Credit Facility Leverage Ratio
LineOfCreditFacilityLeverageRatio
4.9
drh Operating Partnership Units Option To Redeem For Common Stock Ratio
OperatingPartnershipUnitsOptionToRedeemForCommonStockRatio
1
CY2012Q2 drh Long Term Debt Components Mortgage Loan
LongTermDebtComponentsMortgageLoan
900624000 USD
CY2011Q4 drh Mortgage Debt Of Assets Held For Sale
MortgageDebtOfAssetsHeldForSale
180000000 USD
CY2012Q2 drh Mortgage Debt Of Assets Held For Sale
MortgageDebtOfAssetsHeldForSale
0 USD
CY2012Q2 drh Mortgage Loan Receivable Interest Rate Margin Above Libor
MortgageLoanReceivableInterestRateMarginAboveLibor
0.0692
drh Non Cash Ground Rent
NonCashGroundRent
3221000 USD
drh Non Cash Ground Rent
NonCashGroundRent
3107000 USD
CY2012Q2 drh Number Of Hotel Properties
NumberOfHotelProperties
23 hotels
CY2012Q2 drh Number Of Hotel Properties Secured By Mortgage Debt
NumberOfHotelPropertiesSecuredByMortgageDebt
11 hotels
CY2012Q2 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
CY2012Q2 drh Number Of Rooms In Hotels And Resorts Owned
NumberOfRoomsInHotelsAndResortsOwned
10406 rooms
CY2012Q1 drh Proceeds Of Hotel Working Capital And Cash Previously Held In Restricted Escrow Accounts Net Of Closing Costs
ProceedsOfHotelWorkingCapitalAndCashPreviouslyHeldInRestrictedEscrowAccountsNetOfClosingCosts
10000000 USD
CY2012Q2 drh Property Management Fee Percent Fee Of Gross Revenue
PropertyManagementFeePercentFeeOfGrossRevenue
0.03
drh Receipt Of Deferred Key Money
ReceiptOfDeferredKeyMoney
241000 USD
drh Receipt Of Deferred Key Money
ReceiptOfDeferredKeyMoney
1768000 USD
CY2012Q2 drh Total Other Liabilities
TotalOtherLiabilities
229453000 USD
CY2011Q4 drh Total Other Liabilities
TotalOtherLiabilities
253545000 USD
CY2012Q2 drh Unpaid Base Management Fee Required To Be Paid If Termination Rights Exercised
UnpaidBaseManagementFeeRequiredToBePaidIfTerminationRightsExercised
0.01
drh Weeks In First Three Reporting Quarters
WeeksInFirstThreeReportingQuarters
12 weeks
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2012
dei Document Period End Date
DocumentPeriodEndDate
2012-06-15
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0001298946
CY2012Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
195141934 shares
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
DiamondRock Hospitality Co

Files In Submission

Name View Source Status
0001445305-12-002263-index-headers.html Edgar Link pending
0001445305-12-002263-index.html Edgar Link pending
0001445305-12-002263.txt Edgar Link pending
0001445305-12-002263-xbrl.zip Edgar Link pending
drh-20120615.xml Edgar Link completed
drh-20120615.xsd Edgar Link pending
drh-20120615_cal.xml Edgar Link unprocessable
drh-20120615_def.xml Edgar Link unprocessable
drh-20120615_lab.xml Edgar Link unprocessable
drh-20120615_pre.xml Edgar Link unprocessable
drh_10qx6152012.htm Edgar Link pending
drh_exhibit101x6152012.htm Edgar Link pending
drh_exhibit102x6152012.htm Edgar Link pending
drh_exhibit311x6152012.htm Edgar Link pending
drh_exhibit312x6152012.htm Edgar Link pending
drh_exhibit321x6152012.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
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report.css Edgar Link pending
Show.js Edgar Link pending