DiamondRock Hospitality buys Bellmoor Inn & Spa in Delaware for $31 million
DRH•DiamondRock Hospitality acquired the 79-room Bellmoor Inn & Spa in Rehoboth Beach, Delaware, for $31 million, funded with cash on hand. The deal values the resort at about $392,000 per room and is not expected to materially affect fourth-quarter 2026 earnings.
1. Deal terms
DiamondRock Hospitality acquired the fee simple interest in the hotel for $31 million. The purchase price represents a 10.4x trailing 12-month EBITDA multiple through August 2026 and an 8.6% cap rate on hotel NOI. The company projects a stabilized hotel NOI yield of about 9.5% following asset-management initiatives and off-season capital improvements.
