DiamondRock Hospitality to Sell New Preferred

DiamondRock Hospitality (DRH), a lodging REIT, has announced that they will issuing a new series of preferred stock.

The issue will be cumulative, but non qualified.

DRH is a lodging REIT with 31 properties and total normalized revenue near $1 billion.

It has been years since I have followed DRH and it will be most interesting to see how this issue prices.

The preliminary prospectus is here.

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