DiamondRock Hospitality Celebrates Sustainability Recognition

DiamondRock Hospitality Receives Prestigious Awards

DiamondRock Hospitality Company (NYSE: DRH) is proud to announce its recent accolades, marking a significant milestone in its dedication to sustainable practices and responsible investment within the hospitality sector. The company has been granted the National Association of Real Estate Investment Trusts' (Nareit) 2024 Leader in the Light Award, a recognition that underscores the positive impact of its efforts towards environmental, social, and governance (ESG) principles.

Understanding the Leader in the Light Award

This award is not simply a pat on the back; it is a testament to DiamondRock’s commitment to excellence in sustainable practices. Each year, the Leader in the Light Awards highlight those companies that have made a considerable impact through the implementation of sustainable operations and governance practices. Winning this award for the fifth consecutive time is no small feat and reflects the company's continuous dedication to improving its practices.

GRESB Assessment Results

The GRESB Real Estate Assessment plays a pivotal role in determining the Sector Leader status of various companies in the real estate sphere. DiamondRock participated in this assessment for the ninth consecutive year and proudly achieved the rank of Sector Leader among its hotel peer group for five consecutive years. This recognition is based on how well the company integrates sustainability initiatives into its core business strategies.

A Glimpse into Achievements

Along with the Leader in the Light Award, DiamondRock has also secured four Green Stars in the latest GRESB assessment, an achievement it has maintained for seven consecutive years. This remarkable status not only reflects the company’s efforts but also demonstrates a consistent excellence in sustainability within the competitive hotel landscape.

Commitment to Sustainability

Jeffery Donnelly, the Chief Executive Officer of DiamondRock Hospitality, expressed his pride in the company's accomplishments, stating, "Receiving Nareit's Leader in the Light award and being recognized as a sector leader by GRESB highlights our unwavering commitment to sustainable practices, social responsibility, and transparency in governance. These principles are not mere ideals; they are embedded in every facet of our operations, fostering a beneficial relationship with all stakeholders involved."

Company Overview

DiamondRock Hospitality Company is a self-advised real estate investment trust (REIT) with a high-quality portfolio of diversified hotels. The company specializes in leisure destinations and key gateway markets, owning 37 premium quality hotels and resorts, which collectively offer over 10,000 rooms. This strategic positioning allows DiamondRock to cater to a wide range of guests, from those seeking luxury to those desiring boutique experiences.

Future Directions

Looking ahead, the company is committed to continuing its sustainable leadership within the hospitality industry. With a strong foundation and a focus on enhancing both guest experiences and environmental stewardship, DiamondRock aims to set new benchmarks in responsible hospitality practices. By integrating sustainable principles into its operational framework, the company is not only positioning itself as a leader but also inspiring industry-wide change.

Frequently Asked Questions

What is the Leader in the Light Award?

The Leader in the Light Award is presented by Nareit to recognize real estate investment trusts that demonstrate leadership in sustainable and socially responsible practices.

How many times has DiamondRock won this award?

DiamondRock Hospitality has won the Leader in the Light Award for five consecutive years, showcasing its consistent commitment to sustainability.

What is GRESB?

GRESB is a global benchmarking organization that assesses the sustainability performance of real estate investments and provides insights to investors.

What does DiamondRock Hospitality's portfolio consist of?

DiamondRock Hospitality operates a diversified portfolio of 37 premium hotels and resorts, focusing on leisure destinations and key gateway markets.

How does DiamondRock plan to maintain its sustainability efforts?

The company plans to continue integrating sustainable practices throughout its operations and inspire positive change across the hospitality industry.

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