DiamondRock Hospitality said it acquired the fee simple interest in The Bellmoor Inn & Spa, a 79-room luxury resort in Rehoboth Beach, Delaware, for total consideration of $31M, or approximately $392,000 per key. Based on the hotel's trailing 12-month results through August 2026, the acquisition price represents a 10.4x hotel EBITDA multiple and an 8.6% capitalization rate on hotel net operating income. The acquisition was funded with cash on hand. DiamondRock said the deal provides an opportunity to acquire an independent resort in a supply-constrained market with strong in-place cash flow and meaningful operational upside.
Diamondrock Hospitality CompanyDiamondRock acquires The Bellmoor Inn & Spa for $31M, funded with cash on hand, at a 10.4x EBITDA multiple and 8.6% cap rate.
