DiamondRock Acquires The Landing Resort & Spa in Lake Tahoe, California for $42 Million, or $545,000 Per Key

DiamondRock Hospitality | March 2, 2018

BETHESDA, Md., March 1, 2018 -- DiamondRock Hospitality Company (the "Company") (NYSE: DRH) today announced that it has acquired The Landing Resort & Spa ("The Landing" or "Resort"), a luxury resort in Lake Tahoe, California, for $42 million, or $545,000 per key. The acquisition represents a 7% yield on 2017 Hotel Adjusted EBITDA. The Landing Resort & Spa is a premier luxury resort with one of the best locations in Lake Tahoe. The Landing was ranked as a TripAdvisor Traveler's Choice Award Top 20 Hotel in the US and Condé Nast Readers' Choice Award #1 resort in Northern California in ...