DiamondRock sells NYC Marriott hotel leasehold for $33M, adjusts 2026 earnings guidance down.

DiamondRock Hospitality Company sold its leasehold interest in the 189-room Courtyard by Marriott New York Manhattan/Fifth Avenue for $33 million. The sale reflects a 6.3x multiple on 2025 Hotel Adjusted EBITDA and a 13.3% capitalization rate on 2025 Net Operating Income. Despite the hotel's income doubling since 2019, upcoming capital expenditures and rising costs led DiamondRock to divest, aiming to optimize capital allocation and shareholder returns. The company adjusted its 2026 financial guidance downward by about $5 million in EBITDA and $5.1 million in FFO due to the sale.