DiamondRock Announces That It Has Purchased the Chicago Marriott Downtown Magnificent Mile
BETHESDA, Md., March 27 /PRNewswire-FirstCall/ -- DiamondRock Hospitality Company ("DiamondRock") (NYSE: DRH) today announced that it has completed the acquisition of the 1,192-room Chicago Marriott Downtown Magnificent Mile. The contractual purchase price for the hotel was $295 million plus approximately $11 million of net consideration in the form of an assumed property tax liability and other adjustments.
About DiamondRock Hospitality Company
DiamondRock Hospitality Company is a self-advised real estate company that owns and acquires upper upscale and upscale hotel properties located in North America and operated under nationally recognized brand names. To a lesser extent, it acquires premium limited-service and extended-stay hotel properties in urban locations. DiamondRock has a strategic acquisition sourcing relationship with Marriott International. DiamondRock owns 16 hotels with 7,311 rooms in 10 States and one U.S. territory. For more information about DiamondRock or to receive future press releases, please see the Company's website at http://www.drhc.com.
SOURCE DiamondRock Hospitality Company
CONTACT: Mark Brugger of DiamondRock Hospitality Company, 1-240-744-1150, or info@drhc.com