AcquisitionsOct 8, 2026, 07:46 AM
DiamondRock Hospitality Acquires The Bellmoor Inn & Spa for $31M
AI Summary
DiamondRock Hospitality Company announced the acquisition of The Bellmoor Inn & Spa, a 79-room luxury resort in Rehoboth Beach, Delaware, for $31.0 million. The acquisition, funded by cash on hand, is expected to benefit from the company's asset management initiatives and planned capital improvements, with a projected stabilized Hotel NOI yield of approximately 9.5%. The company believes the acquisition aligns with its strategy of acquiring independent resorts in attractive, supply-constrained markets.
Key Highlights
- DiamondRock Hospitality Co. acquired The Bellmoor Inn & Spa for $31.0 million.
- The 79-room luxury resort is located in Rehoboth Beach, Delaware.
- The acquisition price represents a 10.4x Hotel EBITDA multiple based on trailing twelve months ended August 2026.
- The acquisition is projected to generate a stabilized Hotel NOI yield of approximately 9.5% after planned improvements.
- The Bellmoor Inn & Spa generated $2.7 million in Hotel NOI for the trailing twelve months ended August 31, 2026.
Price Impact
More from DRH