Diamondrock Hospitality Company (NYSE:DRH) 3Q19 Profit Decline, Miss Market Expectation

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Diamondrock Hospitality Company (NYSE:DRH) declared third quarter financial results before market open today.

The company DRH unwinded income for the third quarter of $ 11.53 million or $ 0.06 per share, compared to income of $ 31.44 million or $ 0.15 per share, in the same quarter last year., while According to street consensus, income of $ 0.11 was expected per share

DRH recorded total revenue that elevated 8.81 percent to $ 240.28 million from $ 220.82 million in the same quarter last year, where as Wall street analysts are predicting total revenue of $ 235.71 million

Analysts estimates are from Thomson Reuters, exclude one time gain or loss.

Mark W. Brugger, President and Chief Executive Officer of DiamondRock Hospitality stated, We were pleased with our third quarter results, as we were able to increase comparable revenues by 3.2%. Our asset management strategy to focus on total revenues led to impressive 6.8% growth in food and beverage revenues and 9.4% growth in other revenue streams.

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