#1INVESTOR PRESENTATION MAY 2023 LAKE AUSTIN SPA RESORT#2FORWARD LOOKING STATEMENTS & USE OF NON-GAAP FINANCIAL MEASURES FORWARD LOOKING STATEMENTS Certain statements made during this presentation are forward-looking statements that are subject to risks and uncertainties. Forward-looking statements generally include the words "believe," "expect," "anticipate," "plan," "estimate," "project," "will," "intend" or other similar expressions. Forward-looking statements include, without limitation, statements regarding industry outlook, results of operations, cash flows, business strategies, growth and value opportunities, capital and other expenditures, financing plans, expense reduction initiatives and projected dispositions. Factors that could cause actual results to materially differ from those contained in the forward-looking statements include, without limitation, national and local economic and business conditions, including the impact of COVID-19 on occupancy rates at Diamond Rock Hospitality Company's (the "Company") hotels and the demand for hotel products and services, and those risks and uncertainties discussed in the most recent Annual Report on Form 10-K, which the Company has filed with the Securities and Exchange Commission, and in our other public filings which you should carefully review. The forward-looking statements made are based on our beliefs, assumptions and expectations of future performance, taking into account all information currently available to the Company. Actual results could differ materially from the forward- looking statements made in this presentation. The forward-looking statements made in this presentation are subject to the safe harbor of the Private Securities Litigation Reform Act of 1995. Any forward-looking statement speaks only as of the date on which it is made. Although the Company believes the expectations reflect ed in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that the expectations will be attained or that any deviation will not be material. DIAMONDROCK HOSPITALITY All information in this presentation is as of the date of this presentation, and the Company undertakes no obligation to update any forward-looking statement to conform the statement to actual results or changes in the Company's expectations. This presentation contains statistics and other data that has been obtained or compiled from information made available by third- party service providers and believed to be reliable, but the accuracy and completeness of the information is not assured. The Company has not independently verified any such information. USE OF NON-GAAP FINANCIAL MEASURES We use the following non-GAAP financial measures that we believe are useful to investors as key measures of our operating performance: EBITDA, EBITDAre, Adjusted EBITDA, Hotel EBITDA, Hotel Adjusted EBITDA, FFO and Adjusted FFO. These measures should not be considered in isolation or as a substitute for measures of performance in accordance with U.S. GAAP. EBITDA, EBITDAre, Adjusted EBITDA, Hotel EBITDA, Hotel Adjusted EBITDA, FFO and Adjusted FFO, as calculated by us, may not be comparable to other companies that do not define such terms exactly as the Company. A detailed explanation of these non-GAAP financial measures and the reconciliation of such measures to the most directly comparable financial measures prepared in accordance with U.S. GAAP can be found in the Company's first quarter 2023 earnings press release dated May 4, 2023.#3DIAMONDROCK AT A GLANCE PORTFOLIO 9,607 ROOMS 35 PROPERTIES 24 GEOGRAPHIC MARKETS DIVERSIFIED PROPERTIES Luxury Resort Lifestyle Resort Urban Lifestyle Urban Gateway Sausalito San Francisco Huntington Beach Sonoma RESORT URBAN San Diego Lake Tahoe Salt Lake City Sedonal Phoenix Vail FINANCIAL SUMMARY Denver TTM Revenue TTM Corporate Adj. EBITDA Total Debt Net Debt to TTM EBITDA Total Debt to Gross Book Value % Fixed Rate (incl. hedges & preferred capital) Ft. Worth. Austin Chicago New Orleans Atlanta Destin Q1 2023 $1.1B $291MM $1.2B Burlington 3.8x 35% 67% Marathon Key West Charleston Washington, DC Ft. Lauderdale Boston New York DIVERSIFIED GEOGRAPHY MARKET Chicago Boston Fort Lauderdale Florida Keys New York City Vail Fort Worth Sedona Sausalito Denver San Diego Charleston Salt Lake City Sonoma Burlington Huntington Beach New Orleans Austin Phoenix DC Atlanta Lake Tahoe San Francisco Total DIAMONDROCK HOSPITALITY % OF TTM Q1 2023 EBITDA 15.0% 10.5% 10.3% 7.8% 7.4% 4.8% 4.4% 4.1% 3.6% 3.5% 3.4% 3.3% 3.2% 2.8% 2.6% 2.5% 2.3% 2.1% 1.8% 1.6% 1.5% 0.9% 0.4% 100.0% Note: Proforma for 2022 acquisitions#4OPERATOR DIVERSIFICATION 6% 5% 7% 4% 8% 4% Aimbridge Sage Hospitality Kimpton Highgate Hotels 4% 4% 0% 14% HEI Hotels & Resorts EOS Hospitality Ocean Properties Passport Resorts Note: % of 2022 EBITDA, proforma for 2022 acquisitions 26% 18% Marriott Evolution Hospitality Vail Resorts Pacifica Hotels BENEFITS OF SHORT-TERM AGREEMENTS SUPERIOR COST CONTROLS Utilize most cost-effective procurement & sourcing . Identify cost-effective product alternatives DIAMONDROCK HOSPITALITY OWNER-CENTRIC CASH/CAPITAL MANAGEMENT ■ HIGHER PROFITABILITY, LOWER COST OF OPERATIONS Management fees lower I I Owner controls cash management and distribution Owner dictates capital investment / purchasing decisions Operating cost savings Better profitability and flow-through VALUATION PREMIUM: 15% UNENCUMBERED VS. ΤΟ ENCUMBERED HOTELS 20% 4#5PORTFOLIO: DATA TABLE 2022 SEGMENTATION LUXURY RESORT LIFESTYLE RESORT RESORT TOTAL LIFESTYLE URBAN URBAN GATEWAY URBAN TOTAL TOTAL RESORT & URBAN Note: Proforma for 2022 acquisitions KEYS 987 1,312 2,299 1,493 5,815 7,308 9,607 REVPAR (S) $370 $252 $302 $197 $157 $165 $198 TREVPAR ($) $622 $418 $505 $280 $213 $227 $293 REVENUE/KEY ($000s) $225 $152 $184 $102 $78 $83 $107 EBITDA/KEY ($000s) $67 $53 $59 $35 $23 $25 $33 DIAMONDROCK HOSPITALITY % of 2022A EBITDA 21% 22% 43% 16% 41% 57% 100% 5#6STRONG RESORT MARKET PRESENCE LUXURY RESORT LIFESTYLE RESORT SAUSALITO, CA CAVALLO POINT MARATHON, FL TRANQUILITY BAY RESORT FORT LAUDERDALE, FL WESTIN FORT LAUDERDALE BEACH RESORT LAKE TAHOE, CA THE LANDING RESORT AND SPA SEDONA, AZ L'AUBERGE DE SEDONA DESTIN, FL HENDERSON BEACH RESORT FORT LAUDERDALE, FL KIMPTON SHOREBREAK FORT LAUDERDALE BEACH RESORT SEDONA, AZ ORCHARDS INN VAIL, CO THE HYTHE, A LUXURY COLLECTION HOTEL AUSTIN, TX LAKE AUSTIN SPA RESORT KEY WEST, FL HAVANA CABANA SONOMA, CA THE LODGE AT SONOMA RESORT DIAMONDROCK HOSPITALITY DESTIN, FL HENDERSON PARK INN KEY WEST, FL MARGARITAVILLE BEACH HOUSE KEY WEST HUNTINGTON BEACH, CA KIMPTON SHOREBREAK RESORT 6#7HIGH QUALITY PORTFOLIO IN KEY URBAN MARKETS URBAN LIFESTYLE URBAN GATEWAY BURLINGTON, VT HILTON BURLINGTON LAKE CHAMPLAIN PHOENIX, AZ KIMPTON PALOMAR PHOENIX 1400 DENVER, CO COURTYARD DENVER DOWNTOWN NEW YORK, NY Garden Nik Imo (212) 840-9600 TIMES SQUARE'S NEWEST HOTEL HILTON GARDEN TIMES SQUARE CENTRAL WASHINGTON, DC THE WESTIN WESTIN WASHINGTON, D.C. CITY CENTER CHARLESTON, SC RENAISSANCE CHARLESTON HISTORIC DISTRICT HOTEL SAN FRANCISCO, CA HOTEL EMBLEM ATLANTA, GA ATLANTA MARRIOTT ALPHARETTA FORT WORTH, TX THE WORTHINGTON SALT LAKE CITY, UT SALT LAKE CITY MARRIOTT DOWNTOWN CHICAGO, IL THE GWEN, A LUXURY COLLECTION HOTEL NEW ORLEANS, LA BOURBON ORLEANS HOTEL BOSTON, MA WESTIN WESTIN BOSTON SEAPORT NEW YORK, NY COURTYARD MANHATTAN/FIFTH AVENUE SAN DIEGO, CA ELL ** 1-1000 Bu WESTIN SAN DIEGO BAYVIEW " DIAMONDROCK HOSPITALITY THE DENVER, CO HOTEL CLIO, A LUXURY COLLECTION HOTEL HOTEL CLIO BOSTON, MA TH == HILTON BOSTON DOWNTOWN-FANEUIL HALL CHICAGO, IL CHICAGO MARRIOTT MAGNIFICIENT MILE NEW YORK, NY COURTYARD MANHATTAN/MIDTOWN EAST WASHINGTON, DC EMBASSY SUITES BETHESDA 7#810 2023 HIGHLIGHTS KEY HIGHLIGHTS Record Setting Revenues and Total Profits Comparable¹ Total Revenues of $240.4M, +18.0% vs 2022 and +14.2% vs 2019 Comparable¹ RevPAR +16.9% vs 2022 and +13.8% vs 2019 Comparable¹ Hotel Adj. EBITDA +15.9% vs 2022 and +19.5% vs 2019 ■ Adj. FFO of $38.0M and $0.18 Per Diluted Share ■ Acquired Ground Lease Interest in the Renaissance Worthington Hotel² Further enhances portfolio's liquidity and financeability ■ Expect to Spend $100-$115M in Total Capex in 2023 Hilton Boston Downtown/Faneuil Hall comprehensive repositioning Hilton Burlington conversion to Curio Collection and new restaurant concept Salt Lake City Marriott guestroom renovation Bourbon Orleans Hotel public area renovation and guestroom refresh Expect to Generate $215M Cash Before Capex and Dividends in 2023 Repurchased 56.4K Shares of Common Stock @ $7.26 Declared Quarterly Dividend of $0.03 Per Common Share WESTIN . Maintained Leadership in ESG Excellence GRESB Sector Leader (Hotels/America) and ISS ESG Prime Designation ¯ ¹2019 Comparable operating results include all hotels currently owned, except the Kimpton Fort Lauderdale Beach Resort, which opened in April 2021 2 Ground lease acquired in April 2023 DIAMONDROCK HOSPITALITY WESTIN BOSTON SEAPORT A donation has been made to offset the paper used in printing this presentation#9POSITIVE Q1 COMPARABLE RESULTS +16.9% +13.8% vs 2022 vs 2019 $185.26 REVPAR B URBAN REVPAR (2.0%) vs 2022 +23.1% vs 2019 $277.92 ADR +42.0% +3.9% vs 2022 vs 2019 WHIT +10.8 % PTS vs 2022 (5.4) % PTS vs 2019 66.7% OCCUPANCY TA (6.0%) RESORTS REVPAR vs 2022 DIAMONDROCK HOSPITALITY +18.0% +14.2% vs 2022 vs 2019 $240.4MM TOTAL REVENUE +30.4% vs 2019 www 9#102023-2024 POSITIONED FOR OUTSIZED GROWTH CONTINUED ROBUST LEISURE DEMAND ● ● ● DRH Resort Performance Remains Strong DRH Resort RevPAR ($332.49) STR Luxury/Upper Upscale ($169.30) STR Resorts ($221.97) H H ■ Robust RevPAR Growth at Several Resorts: E ■ ■ The Hythe, a Luxury Collection Hotel (+18.8% vs 2022) The Lodge at Sonoma (+11.5% vs 2022) Kimpton Shorebreak Huntington Beach (+3.6% vs 2022) Resorts in Destin and the Florida Keys stabilizing at well above 2019 levels (38%+) URBAN RECOVERY AND GROWTH THE LINDY RENAISSANCE CHARLESTON TEA DIAMONDROCK HOSPITALITY THE HYTHE, A LUXURY COLLECTION HOTEL NAL STRONG URBAN RATES & POSITIVE DEMAND TRAJECTORY Q1'23 Comparable RevPAR +42.0% vs 2022 and 3.9% vs 2019 RAPID RECOVERY OF BUSINESS TRANSIENT H Q1'23 Comparable Midweek BT Occupancy +50.8% NYC Hotels RevPAR Average Increase of 45%+ vs 2022 and 8%+ vs 2019 Hotel Emblem RevPAR Increase of 79%+ vs 2022 and 27%+ vs 2019 IMPROVING GROUP TRENDS ■ Q1'23 Group Room Nights 88% of Prior Peak, +59% vs 2022 Booked "In-the-Quarter, for-the-Quarter" increased 15% Booked "In-the-Quarter, for-the-Rest-of-the-Year" Increased 28% FY 2023 Forecast 102% of Peak Group Revenue 10#11SUCCESS OF RECENT REPOSITIONINGS THE LODGE • AT SONOMA . COMPLETED 2021 16 +46% RevPAR Increase vs 2019 that THE HYTHE VAIL COMPLETED 2021 +75% Hotel Adjusted EBITDA vs 2019 MARGARITAVILLE CLIO Beach House KEY WEST COMPLETED 2021 DIAMONDROCK HOSPITALITY HOTEL NORTH COMPLETED 2022 Significant Increase in Net Asset Value 11#12ROBUST ROI PIPELINE: -$90MM OF ROI PROJECTS AT 20%+ EST. EBITDA YIELD PROPERTY LODGE AT SONOMA THE HYTHE, LUXURY COLLECTION HOTEL CLIO, LUXURY COLLECTION MARGARITAVILLE BEACH HOUSE EMBASSY SUITES BETHESDA CHARLESTON RENAISSANCE THE GWEN BOSTON HILTON BURLINGTON HILTON KIMPTON FORT LAUDERDALE HAVANA CABANA KIMPTON PALOMAR PHOENIX BOURBON ORLEANS THE LANDING TRANQUILITY BAY ORCHARDS INN PROJECT Autograph Collection Conversion Luxury Collection Conversion F&B and Public Space Renovation Luxury Collection Conversion Rebranding Brand Conversion F&B Repositioning Rooftop Conversion Recently Completed Repositioning/Rebranding Curio Brand Conversion F&B Repositioning Rooftop Conversion F&B Repositioning Rooftop Repositioning Lobby/Pool/Retail/F&B Repositioning Additional Keys New 30 Slip Marina Resort Repositioning Total in Planning Recently Completed & Active ROI Pipeline ¹Estimated Capital Spend and Estimated Incremental EBITDA based upon management proformas ESTIMATED CAPITAL SPEND¹ $9.8 $8.4 $2.5 $3.6 $3.5 $3.3 $2.1 $1.5 $34.7 $6.4 $2.6 $1.3 $2.2 $1.1 $3.7 $8.8 $6.1 $2.5 $19.8 $54.5 $89.2 UNDERWRITTEN INCREMENTAL EBITDA¹ $1.4 $3.4 $0.5 $1.2 $1.3 $0.5 $0.5 $0.3 $9.1 $1.1 $0.8 $0.4 $0.3 $0.4 $0.6 $1.2 $1.2 $0.5 $2.6 $9.1 $18.2 ESTIMATED EBITDA YIELD 14% 40% 20% 33% 37% 15% 24% 20% 26% 17% 31% 31% 14% 35% 16% 14% 20% 20% 13% 17% DIAMONDROCK HOSPITALITY 20% ESTIMATED COMPLETION Completed Completed Completed Completed Completed Completed Completed Completed 2023 2023 2023 2023 2023 2023 2024 2024 2024 2024 12#13HILTON BOSTON DOWNTOWN/FANEUIL HALL REPOSITIONING AFTER Renovated rooms, rebranding to a lifestyle brand bathrooms, lobby and meeting spaces and Est. Completion: Est. Capital Spend: Est. EBITDA Yield: Est. IRR¹: ¹Estimated IRRs are calculated assuming a 3-year stabilization period and a 10.0x terminal multiple Summer 2023 $6.4MM 17% 34% BEFORE NE 381 11 TRU N Inha WHA TILIN RE HOM DIAMONDROCK HOSPITALITY 13#14HILTON BURLINGTON LAKE CHAMPLAIN CONVERSION RENDERINGS CHAMPI UNIN 1 POENTIE CONCRETE ANDE AFAHAHAHAHAHAH... over (6) 201 (11) 8 167 159 Hilton Burlington Curio Brand Conversion and F&B Repositioning Est. Completion: Est. Capital Spend: Est. EBITDA Yield: Est. IRR¹: DIAMONDROCK HOSPITALITY BEFORE Fall 2023 $3.9MM 31% 68% 14#15POTENTIAL LONGER TERM CAPITAL PROJECTS LAKE AUSTIN SPA RESORT LAKE AUSTIN SPA RESORT T Exploring Adding Additional Waterfront Guest Rooms ORCHARDS INN ORCHARDS INN Sedona, Arizona Repositioning to Integrate with L'Auberge de Sedonal DIAMONDROCK HOSPITALITY COURTYARD DENVER DOWNTOWN COURTYARDⓇ BY MARRIOTT Courtyard Denver Downtown Franchise Expiration in 2027 - Potential Upbranding and/or Re-Development 15#16POTENTIAL LONGER TERM CAPITAL PROJECTS WESTIN BOSTON SEAPORT WESTIN WESTIN® HOTELS & RESORTS The Westin Boston Seaport District 111 E 15 DIE ANO ⠀⠀⠀ F WESTIN EESTISTICI m a FTH THE Franchise Expiration in 2026 - Key Money Opportunity PE E HENDERSON PARK INN Henderson Park Inn Currently 37 Rooms Entitled for 100+ Units DIAMONDROCK HOSPITALITY THE LANDING LANDING IT HVI 3 The Landing Jimmy's Restunet La Exploring Additional Guest Rooms 16#17STRONG LIQUIDITY AND BALANCE SHEET Strong Cash Flow Low Leverage Flexible and Liquid Structure • Long Weighted-Average Maturity ● ● ● (1) (2) $585M Total Available Liquidity Includes debt and perpetual preferred capital Percentage of hotels unencumbered by debt 2023 $73 NO NEAR-TERM MATURITIES DEBT MATURITY SCHEDULE (SMM) $291 2025 $300 Ability to Fund from Current Liquidity and Retained Cash Flow DRH COMPETITIVE ADVANTAGES 2026 2027 Term Loans and Revolver SIGNIFICANT LIQUIDITY AND DRY POWDER AVAILABLE $500 2024 ■Mortgages Note: Mortgages reflect balance at scheduled maturity, Term Loan reflects exercise of one-year extension 2028 67% Fixed Rate¹ 12.9 9.6 ● 8.5 Retire all debt maturities Fully fund all capex and pending ROI projects Pay projected preferred and common dividends through 2025 LOW LEVERAGE VS PEERS PEER (NET DEBT+ PREFERRED) / EBITDA 7.6 7.6 DIAMONDROCK HOSPITALITY 89% Unencumbered by Year End² 6.3 6.3 5.7 4.8 4.4 4.2 3.8 3.3 Source: Baird Comp Sheet (2/3/23), Net Debt + Preferred / EBITDA 2022, DRH reflects TTM Q1'23 EBITDA 2.6 AHT BHR PEB INN HT RLJ PK CLDT XHR RHP SHO DRH APLE HST 17#18RECENT ACQUISITIONS OUTPERFORMING UNDERWRITING 6 HOTELS ACQUIRED IN THE PAST TWO YEARS $400M+ CAPITAL DEPLOYED BOURBON ORLEANS HOTEL (NEW ORLEANS, LA) TRANQUILITY BAY (MARATHON, FL) 11.6X 2022 EBITDA MULTIPLE OVER ACQUISITION PRICE HENDERSON PARK INN (DESTIN, FL) KIMPTON FORT LAUDERDALE BEACH (FT LAUDERDALE, FL) DOLIA (1) Excludes recently acquired hotels: Lake Austin Spa (acquired November 2022) and Kimpton Fort Lauderdale (acquired April 2022). DIAMONDROCK HOSPITALITY $5MM AHEAD OF 2022 HOTEL ADJ. EBITDA UNDERWRITING¹ HENDERSON BEACH RESORT (DESTIN, FL) LAKE AUSTIN SPA RESORT (AUSTIN, TX) 18#19ESG ACCOMPLISHMENTS DRH GRESB Score Peer Score Average Index to Peer Score Average 2022 GRESB Rating GRESB ANNUAL RESULTS ● 2017 2018 2019 2020 2021 2022 53 57 75 58 GRESB REAL ESTATE sector leader 2021 81 69 84 86 GRES B REAL ESTATE Sector Leader 2020 69 72 93% 129% 117% 122% 119% 126% 2022 Updates Sector Leader status for Hotels / Americas Awarded 4 Green Stars as Top Performer and Sector Leader 82 Ranked 1st out of 6 in Hotel/Americas Ranked 3rd out of 14 in Hotel/Listed sector GRESB ★★★★☆ 2021 65 GRES B ENVIRONMENTAL SOCIAL ISS ESG RANKINGS(2) GOVERNANCE As of April 2023 iii 888 DIAMONDROCK HOSPITALITY ISS-ESG CORPORATE RANKING TOP 1% Currently Ranked in Top 1% of all US Real estate companies 2022 CORPORATE RESPONSIBILITY REPORT Diamond Rock ranks in the top 5% of the Worldwide Real Estate Sector, earning an ISS ESG Prime designation OBRE DIAMONDROCK HOSPITALITY 19