Diamondrock Hospitality Co. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company's total revenue was $181,303,000 against $118,423,000 a year ago. Operating profit was $2,029,000 against operating loss of $4,664,000 a year ago. Loss from continuing operations before income taxes was $10,269,000 against $15,925,000 a year ago. Loss from continuing operations was $4,126,000 against $10,108,000 a year ago. Net Loss was $4,126,000 or $0.02 per basic and diluted share against net income of $2,615,000 or $0.02 per basic and diluted share a year ago. EBITDA was $30,148,000 against $31,310,000 a year ago. Adjusted EBITDA was $34,270,000 against $23,353,000 a year ago. FFO was $22,708,000 against $13,116,000 a year ago. Adjusted FFO was $26,765,000 or $0.14 per share against $15,129,000 or $0.09 per share a year ago. The company has spent approximately $13.9 million toward capital improvements at its hotels. The company also provided earnings guidance for the year 2013. The company's expected adjusted EBITDA of $195 million to $205 million adjusted FFO of $138 million to $145 million and adjusted FFO per share of $0.70 to $0.74. The company plans to invest approximately $140 million for capital improvements in 2013 and early 2014. The company continues to expect renovation disruption of $10 million to $12 million of Hotel Adjusted EBITDA during the year ending December 31, 2013.

Diamondrock Hospitality Co. announced that they will report Q1, 2013 results at 9:00 AM, Eastern Standard Time on May 10, 2013

Diamondrock Hospitality Co., Q1 2013 Earnings Call, May 10, 2013