Company: DRH-PA
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001298946-25-000085
Chunk: 17

Company: DiamondRock Hospitality Co
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 17
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 maturity date of July 3, 2025. The $60.0 million draw was repaid on July 22, 2025. On September 5, 2025, we repaid the Westin Boston Seaport District mortgage loan using proceeds from the Amended Credit Facility. Following this repayment, the Company's portfolio is fully unencumbered by secured debt.The components of the Company's interest expense consist of the following (in thousands):Three Months Ended September 30,Nine Months Ended September 30, 2025202420252024Unsecured term loan interest$14,223 $12,665 $35,853 $35,419 Mortgage debt interest1,414 3,527 7,205 11,572 Credit facility interest and unused fees504 315 1,124 938 Amortization of debt issuance costs494 479 1,550 1,505 Finance lease expense(1)476 — $1,405 $— $17,111 $16,986 $47,137 $49,434 _____________(1)In October 2024, we extended the term on one of our ground leases, and, as a result, the lease classification changed from an operating lease to a finance lease.

6. Derivatives

We have the following derivatives (dollars in thousands):Fair Value of Assets (Liabilities)Hedged DebtTypeFixed RateIndexEffective DateMaturity DateNotional AmountSeptember 30,2025December 31, 2024Unsecured term loansSwap3.36 %SOFRMarch 1, 2023January 1, 2028$75,000 $(61)$1,328 Unsecured term loansSwap3.50 %SOFRMarch 1, 2023January 1, 2027$75,000 4 747 Unsecured term loansSwap3.27 %SOFROctober 1, 2024January 1, 2028$37,500 42 757 Unsecured term loansSwap3.27 %SOFROctober 1, 2024January 1, 2028$37,500 42 758 Unsecured term loansSwap3.07 %SOFRJanuary 2, 2025January 1, 2027$25,000 134 456 Unsecured term loans