DiamondRock Hospitality Acquires The Bellmoor Inn & Spa for $31 Million

The acquisition price equates to approximately $392,000 per key, based on the property's performance through August 2026. DiamondRock reported that the transaction reflects a 10.4x Hotel EBITDA multiple and an 8.6% capitalization rate on net operating income. The company intends to boost the property’s performance by implementing internal asset management initiatives and executing planned off-season upgrades, targeting a stabilized yield of 9.5%.

Jeffrey J. Donnelly, CEO of DiamondRock, noted that Southern Delaware remains a high-demand destination for travelers from the Northeast Corridor, offering significant barriers to new market entrants. The purchase, funded entirely through cash on hand, is not expected to shift the company's financial results for the final quarter of 2026. This addition brings DiamondRock's total footprint to 35 premium properties, maintaining a balance between independent lifestyle hotels and branded resorts.