| |
We believe that we are able to create significant
value in our portfolio by utilizing our management
team’s extensive experience and our innovative asset
management strategies. Our senior management team
has an established broad network of hotel industry
contacts and relationships, including relationships
with hotel owners, financiers, operators, project
managers and contractors and other key industry
participants.
As the economic recovery
continues, we will explore strategic options to
maximize the growth of our revenue and
profitability. We continue to focus our hotel
managers on minimizing the increases in our
property-level operating expenses and we continue to
maintain modest corporate expenses. We are also
continuing to work closely with our hotel managers
to optimize the mix of business at our hotels in
order to maximize potential revenue.
We use
our broad network of hotel industry contacts and
relationships to maximize the value of our hotels.
Under the federal income tax rules governing REITs,
we are required to engage a hotel manager that is an
eligible independent contractor through one of our
subsidiaries to manage each of our hotels pursuant
to a management agreement. Our philosophy is to
negotiate management agreements that give us the
right to exert significant influence over the
management of our properties, annual budgets and all
capital expenditures (all, to the extent permitted
under the REIT rules), and then to use those rights
to continually monitor and improve the performance
of our properties. We cooperatively partner with our
hotel managers in an attempt to increase operating
results and long-term asset values at our hotels. In
addition to working directly with the personnel at
our hotels, our senior management team also has
long-standing professional relationships with our
hotel
managers’ senior executives, and we work
directly with these senior executives to improve the
performance of our portfolio.
We believe we
can create significant value in our portfolio
through innovative asset management strategies such
as rebranding, renovating and repositioning. We are
committed to regularly evaluating our portfolio to
determine if we can employ these value-added
strategies at our hotels.
<<back
|
back to home>> |
|
DiamondRock Hospitality Company
3 Bethesda Metro Center, Suite 1500, Bethesda, Maryland
20814
Telephone No.: (240) 744-1150
|
