DiamondRock Hospitality Announces The Lexington New York City Has Officially Joined The Autograph Collection
BETHESDA, Md., Aug. 19, 2013 /PRNewswire/ -- DiamondRock Hospitality Company (the "Company") (NYSE: DRH) announced today that the Lexington New York City hotel has officially joined the Autograph Collection by Marriott International, Inc. The 725-room hotel is being reinvented with a transformative $46 million renovation that makes the Lexington one of the most unique hotels in New York with its Art Deco theme throughout the iconic building. The hotel is now available through all relevant Marriott International booking channels and guests enjoy the full benefits of the Marriott Rewards program.
Mark W. Brugger, President and Chief Executive Officer of DiamondRock Hospitality Company, stated, "Today's announcement marks the most significant milestone in our repositioning of the Lexington. We expect the hotel to be a top performer for the Company next year as the result of our stylized renovation combined with the Autograph Collection's ability to harness Marriott's powerful reservation system and guest loyalty programs. We expect the Lexington New York City to be a significant growth driver for the Company in 2014 and beyond."
About the Company
DiamondRock Hospitality Company is a self-advised real estate investment trust (REIT) that is an owner of a leading portfolio of geographically diversified hotels concentrated in top gateway markets and destination resort locations. The Company owns 27 premium quality hotels with over 11,600 rooms. The Company has strategically positioned its hotels to predominately be operated under the leading global brands such as Hilton, Marriott, and Westin. For further information on the Company and its portfolio, please visit DiamondRock Hospitality Company's website at www.drhc.com.
About Autograph Collection
Exactly like nothing else, the Autograph Collection is an evolving ensemble of strikingly independent hotels. Each destination has been selected for its quality, bold originality, rich character and uncommon details. From near to far, iconic to historic, the result is an array of properties that is nothing less than unique, nothing short of collectively exceptional. For more information please visit www.autographhotels.com.
This press release contains forward-looking statements within the meaning of federal securities laws and regulations. These forward-looking statements are identified by their use of terms and phrases such as "believe," "expect," "intend," "project," "forecast," "plan" and other similar terms and phrases, including references to assumptions and forecasts of future results. Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors which may cause the actual results to differ materially from those anticipated at the time the forward-looking statements are made. These risks include, but are not limited to: national and local economic and business conditions, including the potential for additional terrorist attacks, that will affect occupancy rates at the Company's hotels and the demand for hotel products and services; operating risks associated with the hotel business; risks associated with the level of the Company's indebtedness; relationships with property managers; the ability to compete effectively in areas such as access, location, quality of accommodations and room rate structures; changes in travel patterns, taxes and government regulations which influence or determine wages, prices, construction procedures and costs; risks associated with the development of a hotel by a third-party developer; risks associated with the rebranding of the Lexington Hotel New York; and other risk factors contained in the Company's filings with the Securities and Exchange Commission. Although the Company believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that the expectations will be attained or that any deviation will not be material. All information in this release is as of the date of this release, and the Company undertakes no obligation to update any forward-looking statement to conform the statement to actual results or changes in the Company's expectations.
SOURCE DiamondRock Hospitality Company