DiamondRock Acquires Bellmoor Inn & Spa for $31M

By Bobby Samwell • Thursday, October 08 16:06 • Permanent Link

DiamondRock Hospitality Company said it acquired the fee simple interest in the Bellmoor Inn & Spa in Rehoboth Beach, Delaware, for $31.0 million, or about $392,000 per key, for a 79-room luxury resort.

The company said the purchase was funded with cash on hand. Based on the hotel’s trailing 12-month results ended August 2026, the price equates to a 10.4x hotel EBITDA multiple and an 8.6% capitalization rate on hotel NOI.

DiamondRock said that after asset management initiatives and planned off-season capital improvements, the property is projected to produce a stabilized hotel NOI yield of about 9.5%.

The company said the acquisition is not expected to have a material impact on fourth-quarter 2026 earnings.

DiamondRock now owns 35 hotels and resorts with 9,479 rooms. Today the company's shares have moved -0.2% to a price of $12.35. For more information, read the company's full 8-K submission here.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.