DiamondRock completed the acquisition of Bourbon Orleans Hotel and Henderson Park Inn for $108m.

DiamondRock, a real estate investment trust, completed the acquisition of Bourbon Orleans Hotel, a lifestyle boutique hotel, and Henderson Park Inn, a beachfront resort, for $108m. "These high-quality acquisitions continue DiamondRock's multi-year strategic initiative to assemble a leading portfolio of leisure-oriented, experiential hotels and resorts. Finding off-market acquisitions in unique markets allows DiamondRock to purchase higher quality real estate at better pricing than many others. Moreover, these two deals have numerous attractive attributes we target, including proven cash flow, significant ROI opportunities, irreplaceable locations, high-barrier-to-entry markets, fee simple and fully unencumbered by brand and management," Mark W. Brugger, DiamondRock President and CEO.