Posted 10/15/2012 - 1:56:42 AM
BETHESDA, MD–DiamondRock Hospitality Co. third-quarter 2012 RevPAR rose 3.4%, compared to the same period a year ago.
The RevPAR increase was driven by a 4.4% increase in ADR offset by a 0.7% decrease in occupancy. During the quarter, the company disposed of the 372-room Westin Atlanta Perimeter North Hotel for a reported $39.6 million. DiamondRock's total property sales for the year now exceed $300 million. The lodging REIT owns a portfolio of 26 full-service hotels in North America.