DiamondRock Hospitality names new EVP/CFO

Currently, 18 states across the U.S. began 2019 by increasing their minimum wages, either based on cost of living studies or previously approved legislation or ballot initiatives.
DiamondRock Hospitality Co. owns 31 hotels, including the 436-room Westin San Diego. Photo credit: Marriott International

Jeffrey Donnelly will join DiamondRock Hospitality Co. as executive vice president/chief financial officer effective Monday, August 19. Donnelly brings 25 years of real estate experience, including roles with Wells Fargo and AEW Capital Management.

Before joining DiamondRock, Donnelly spent two years with Wells Fargo, co-founding the company’s Real Estate Research Platform and, most recently, serving as managing director of equity research at Wells Fargo Securities. Before that, he worked as assistant VP at AEW Capital Management, overseeing capital allocation, budgeting, capital markets and accounting for a real estate portfolio of more than 40 properties. Additionally, he led the disposition efforts on more than $1 billion in assets as well as a $1.6 billion property-for-stock transaction.

"With 25 years of institutional real estate experience, Jeff brings a depth of market knowledge and strategic understanding that will allow him to make an immediate impact,” Mark Brugger, president/CEO of DiamondRock, said in a statement. “I look forward to working closely with Jeff on capital allocation decisions going forward."

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DiamondRock, a self-advised real estate investment trust, owns 31 hotels with more than 10,000 rooms. Its properties include brands from Hilton and Marriott International, as well as boutique hotels in the lifestyle segment.

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