Mergers & Acquisitions ·
DiamondRock Hospitality acquires 79-room Bellmoor Inn & Spa for $31M
DRHDiamondRock Hospitality Co
DiamondRock Hospitality Company completed the acquisition of The Bellmoor Inn & Spa, a 79-room luxury resort in Rehoboth Beach, Delaware, on October 1, 2026. Total consideration was $31.0 million, funded with cash on hand, representing approximately $392,000 per key. Based on trailing twelve-month results ended August 2026, the purchase price reflects a 10.4x Hotel EBITDA multiple and an 8.6% capitalization rate on net operating income. The acquisition is not expected to have a material impact on fourth quarter 2026 earnings. DiamondRock Hospitality Company is a self-advised real estate investment trust that owns a portfolio of geographically diversified hotels concentrated in leisure destinations.