DiamondRock buys hotels in NYC, Florida

DiamondRock Hospitality has expanded its portfolio with hotel acquisitions in New York and in Key West, Fla. DiamondRock paid $127.2 million for the 282-room Hilton Garden Inn/Times Square Central and bought the 106-room Inn at Key West for $47.5 million. Highgate Hotels will manage the New York hotel, while the hotel in Key West will remain under management by an independent firm. Read the American City Business Journals/Washington, D.C. story here