Diamondrock hospitality company and fortress investment group llc announce a transaction for the frenchman's reef marriott resort & spa and noni beach, autograph collection project in st. thomas, u.s.v.i.

Bethesda, md.--(business wire)--diamondrock hospitality company (“diamondrock”) (nyse: drh), announced today that it sold the 478-room frenchman's reef marriott resort & spa and noni beach, autograph collection project in st. thomas, u.s.v.i. (collectively, “frenchman's reef”) to an affiliate of fortress investment group llc (“fortress”). as consideration, diamondrock has received an upfront cash payment as well as a participation right in the future profits of the hotel once certain return
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