Company: DRH-PA
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001298946-25-000015
Chunk: 134

Company: DiamondRock Hospitality Co
Filing Date: 2025-02-28
Form: 10-K
Item: Item 16
Chunk 134
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 adjusted gross revenue over thresholdCavallo Point (12) (Participation Rent)Through 12/206610.0% of adjusted gross revenue over thresholdBourbon Orleans Hotel parking subleaseThrough 7/2069$36,000 (13)__________(1)These terms assume our exercise of all renewal options. (2)Represents rent for the year ended December 31, 2024. Rent increases annually by 5.5%.(3)The total annual rent includes the fixed rent noted in the table plus a percentage rent equal to 5% of gross receipts for each lease year, but only to the extent that 5% of gross receipts exceeds the minimum fixed rent in such lease year. There was no such percentage rent earned during the years ended December 31, 2024 and 2023.(4)Represents rent for the year ended December 31, 2024. Rent increases annually based on the greater of 2% or a Consumer Price Index calculation.(5)Total annual rent under the ground lease is capped at 2.5% of hotel gross revenues during the initial 30 years of the ground lease.(6)Beginning January 2031, we have the right to renew the ground lease in one-year increments at the prior year's annual rent plus 3%. (7)Represents rent for the year ended December 31, 2024. Rent increases annually in June based on a Consumer Price Index calculation.(8)Represents rent for the year ended March 31, 2024. Rent increases annually each April by 2.5%.

F-24

(9)As the lessee of a government property, the hotel is subject to a Government Property Lease Excise Tax under Arizona state statute.(10)Represents rent for the year ending December 31, 2024. Base rent resets every five years based on the average of the previous three years of adjusted gross revenues, as defined in the ground lease, multiplied by 75%. The next base rent reset will be January 2029. (11)Percentage rent is applied to annual adjusted gross revenues, as defined in the ground lease, between $30 million and the participation rent threshold. Base rent is deducted from the percentage rent. (12)Participation rent is applied to annual adjusted gross revenues, as defined in the ground lease, over $42 million plus an annual increase based on a Consumer Price Index calculation.(13)Represents rent for the year ending December 31