Company: DRH-PA
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001298946-25-000049
Chunk: 8

Company: DiamondRock Hospitality Co
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 1
Chunk 8
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4.33%July 202554,279 54,657 Westin Boston Seaport District mortgage loan4.36%November 2025168,161 169,385 Unsecured term loan SOFR + 1.35% (1)January 2028500,000 500,000 Unsecured term loanSOFR + 1.35% (2)January 2026300,000 300,000 Senior unsecured credit facilitySOFR + 1.40%September 2026 (3)— — Total debt1,093,694 1,095,808 Unamortized debt issuance costs (4)(753)(514)Debt, net of unamortized debt issuance costs$1,092,941 $1,095,294 Weighted-Average Interest Rate (5)5.08% _______________________(1)Interest rate as of March 31, 2025 was 5.12%, which includes the effect of interest rate swaps.(2)Interest rate as of March 31, 2025 was 5.76%.(3)Maturity date may be extended for an additional year upon the payment of applicable fees and the satisfaction of certain customary conditions.(4)Excludes debt issuance costs related to our senior unsecured credit facility, which are included within Prepaid and Other Assets on the accompanying consolidated balance sheets.(5)Includes the effect of interest rate swaps. See Note 6 for additional disclosures on interest rate swaps.Mortgage Debt

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We have incurred limited recourse, property specific mortgage debt secured by certain of our hotels. In the event of default, the lender may only foreclose on the secured assets; however, in the event of fraud, misapplication of funds or other customary recourse provisions, the lender may seek payment from us. As of March 31, 2025, three of our 36 hotels were secured by mortgage debt with the three mortgage loans maturing in the next 12 months. Our first mortgage loan maturity is on May 6, 2025, and we intend to repay that mortgage loan using cash on hand. We are actively pursuing a financing transaction, the proceeds of which we plan to use to repay the remaining mortgage loans that mature in 2025. If we are unsuccessful in obtaining this new financing, we may repay the mortgage loans using a combination of cash on hand and proceeds from our senior unsecured revolving credit facility.Our