=Diamondrock Hospitality (DRH) reported Q1 earnings on Fri 6 May 2016 (b/o)

Diamondrock Hospitality beats by $0.03, misses on revs; guides FY16 FFO in-line; authorizes $150 mln share repurchase program :

• Reports Q1 (Mar) funds from operations of $0.21 per share, $0.03 better than the Capital IQ Consensus of $0.18; revenues rose 2.0% year/year to $213 mln vs the $218.55 mln Capital IQ Consensus. RevPAR: RevPAR was $150.61, a 2.1% decline from the comparable period of 2015. Hotel Adjusted EBITDA Margin: Hotel Adjusted EBITDA margin was 26.42%, an increase of 14 basis points from the comparable period of 2015.
• Co issues reaffirms guidance for FY16, sees FFO of $1.04-1.09 vs. $1.07 Capital IQ Consensus Estimate; Co sees FY16 pro forma RevPar growth of 2-4%; sees FY16 adjusted EBITDA of $265-278 mln.