DiamondRock Hospitality Company, a self-advised real estate investment trust (REIT), owns a portfolio of 28 premium hotels and resorts containing over 9,600 rooms in the aggregate, concentrated in key gateway cities and destination resorts throughout North America and the U.S. Virgin Islands. Our vision is to be the premier allocator of capital in the lodging industry and our goal is to deliver above-average shareholder returns across the full lodging cycle. Our goal is to deliver returns through a combination of dividends and enduring capital appreciation.
We strive to create significant shareholder value by executing on three strategic principles:
Since 2010, we have repositioned our portfolio through the acquisition of approximately $1.8 billion of urban and resort hotels that align with our strategic goals while disposing of more than $0.6 billion in non-core hotels. These acquisitions increased our urban exposure with additional hotels in cities such as San Diego, San Francisco, Boston, Denver, Washington, D.C., as well as our resort exposure with our recent acquisitions in Sedona and Fort Lauderdale. Over 90% of our portfolio EBITDA as of December 31, 2016 is derived from core urban and resort destination hotels and a majority of our hotels are operated by leading global hotel brands including Marriott International, Inc.™ (“Marriott”) and Hilton Worldwide™ (“Hilton”).
DiamondRock aspires to be a lodging REIT that maintains the highest standards of professional management and is committed to serving as prudent stewards of our investors’ capital — which includes retirement savings for firemen, teachers, and our neighbors. Our strategy to drive shareholder value is centered on disciplined capital allocation, high quality lodging properties, aggressive asset management, and conservative leverage.