DiamondRock Hospitality buys Bellmoor Inn & Spa in Delaware for $31 million
Bitget2026/10/08 11:30DiamondRock Hospitality acquired the fee simple interest in The Bellmoor Inn & Spa in Rehoboth Beach, Delaware, for USD 31 million. Deal values the 79-room luxury resort at about USD 392,000 per key; funded with cash on hand. Purchase price equals a 10.4x trailing 12-month EBITDA multiple ended August 2026; 8.6% cap rate on hotel NOI. Stabilized hotel NOI yield projected at about 9.5% following asset-management initiatives, off-season capital improvements. Transaction not expected to materially affect fourth-quarter 2026 earnings. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. DiamondRock Hospitality Company published the original content used to generate this news brief via PR Newswire (Ref. ID: 202610080730PR_NEWS_USPR_____PH66561) on October 08, 2026, and is solely responsible for the information contained therein.
- DiamondRock Hospitality acquired the fee simple interest in The Bellmoor Inn & Spa in Rehoboth Beach, Delaware, for USD 31 million.
- Deal values the 79-room luxury resort at about USD 392,000 per key; funded with cash on hand.
- Purchase price equals a 10.4x trailing 12-month EBITDA multiple ended August 2026; 8.6% cap rate on hotel NOI.
- Stabilized hotel NOI yield projected at about 9.5% following asset-management initiatives, off-season capital improvements.
- Transaction not expected to materially affect fourth-quarter 2026 earnings.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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