ATLANTA-Two large local hotels belonging to Bethesda, MD-basedDiamondRock Hospitality Co. are being put on the market as the REITattempts to overcome declining profits and reduce its exposure toweaker markets. Sources point to the 369-room Westin AtlantaPerimeter North and the 318-room Atlanta Marriott Alpharetta, bothwhich are suburban properties.
DiamondRock on Wednesday posted 9% lower funds from operationsfor its third quarter ending Sept. 5, to $30.5 million from $33.4million a year ago. The company cited the overall economy anddeclining demand for hotel rooms as reasons for the fallingFFO.
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