DiamondRock Hospitality Completes $14.5 million Renovation of the Westin San Diego
BETHESDA, MD - March 28, 2014 - DiamondRock Hospitality Company (the "Company") (NYSE: DRH) today announced the successful completion of its $14.5 million renovation of the Westin San Diego. The renovation included significant upgrades to the hotel's guest rooms, meeting spaces, lobby and fitness center.
Mark W. Brugger, President and Chief Executive Officer of DiamondRock Hospitality Company, stated, "We are excited by the results of this transformative renovation, which has dramatically improved all aspects of the guest experience at the Westin San Diego. With a repositioned hotel, the Westin San Diego can compete for the most desirable premium business and capture additional market share over the next few years."
The comprehensive renovation, completed on-time and on budget, enhanced key aspects of the guest experience including the hotel's guestrooms, meeting space, fitness center, and lobby. The Company also created two new state-of-the-art legal war rooms, the first of its kind in San Diego, which will support the requirements of traveling legal teams and provide them with the accommodations, facilities, and technology necessary for trial preparation, depositions, and long-term trials.
The guestrooms are among the first in the United States to debut Westin's newest room design package, the latest and highest standard for the brand which features a contemporary, timeless decor, Westin's signature Heavenly® Bed, Westin Heavenly® Bath, and all-new 50-inch flat screen televisions.
The new lobby concept features modern and natural elements including a convenient grab-n-go cafe, new Westin check-in pods, and a redesigned contemporary lobby bar with flexible seating ideal for small meetings, browsing the internet, or engaging in conversation. In addition, the Westin San Diego now features a completely upgraded WestinWORKOUT® Fitness Studio as well as the smart technology-enabled Tangent™ By Westin workspace, which is rentable by the hour.
The strategic timing of Westin San Diego's renovation will allow the hotel to benefit from the strong activity at the San Diego Convention Center, a primary demand driver for downtown San Diego hotels, over the coming years. According to HVS, attendance at San Diego Convention Center events is estimated to grow 12% in 2014 with over 858K delegates visiting for meetings and trade shows, the highest attendance since 2008. Convention-related overnight stays are expected to further increase 10 - 15% in 2016 and 2017 based on advanced bookings. In addition, the San Diego hotel market is expected to benefit from a supply and demand imbalance over the next 3 years. According to PKF Hotel Horizons, compound supply growth is expected to be limited to 1.5% annually through 2017.
The 436-room Westin San Diego is located at 400 W Broadway in the heart of San Diego's commercial business district and is close to San Diego's major tourist attractions and benefits from its proximity to San Diego's legal center with direct access to the Superior Court of California and the United States Federal Court. The hotel features 25,000 square feet of indoor and outdoor meeting and banquet space, catering, and event planning services ideal for business and group functions, weddings, and social gatherings. http://www.starwoodhotels.com/westin/property/overview/index.html?propertyID=1762
About DiamondRock Hospitality Company
DiamondRock Hospitality Company is a self-advised real estate investment trust (REIT) that is an owner of a leading portfolio of geographically diversified hotels concentrated in top gateway markets and destination resort locations. The Company owns 26 premium quality hotels with over 11,100 rooms. The Company has strategically positioned its hotels to generally be operated under the leading global brands such as Hilton, Marriott, and Westin. For further information on the Company and its portfolio, please visit DiamondRock Hospitality Company's website at www.drhc.com.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
