Company: DRH-PA
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001298946-25-000015
Chunk: 131

Company: DiamondRock Hospitality Co
Filing Date: 2025-02-28
Form: 10-K
Item: Item 16
Chunk 131
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,106 $11,255 The following table sets forth supplemental cash flow information related to the operating and finance leases (in thousands): Year Ended December 31,20242023Cash paid for amounts included in the measurement of operating lease liabilities$3,950 $3,995 Variable lease payments$1,972 $1,687 Cash paid for amounts included in the measurement of finance lease liabilities$189 $— Future minimum lease payments included in the consolidated balance sheets are as follows (in thousands):  

F-22

Year Ending December 31,Operating LeasesFinance Lease2025$3,073 $1,133 20263,571 1,133 20273,534 1,204 20283,604 1,416 20293,678 1,416 Thereafter593,357 404,379 Total lease payments610,817 410,681 Less imputed interest(525,582)(379,049)Total lease liabilities$85,235 $31,632 Six of our hotels are subject to ground lease agreements that cover all of the land underlying the respective hotel as of December 31, 2024:•The Embassy Suites by Hilton Bethesda is subject to a ground lease that runs until 2087. There are no renewal options.•The Courtyard New York Manhattan/Fifth Avenue is subject to a ground lease that runs until 2121, inclusive of two renewal options for 49 and 36 years, respectively. Our ability to exercise the second renewal option is contingent on the Company spending no less than $7.0 million on capital improvements by the end of 2026 (the “Capital Improvement Plan”). Assuming that we meet the Capital Improvement Plan and exercise all renewal options, the ground lease would expire in October 2121.•The Salt Lake City Marriott is subject to two ground leases: one ground lease covers the land under the hotel and the other ground lease covers the portion of the hotel that extends into the adjacent City Creek Center. The term of the ground lease covering the land under the hotel runs through 2106. The term of the ground lease covering the extension into the City Creek Center runs through 2056. •The Westin Boston Seaport District is subject to a ground lease that runs until 2099. There are no renewal options.•The Hotel Palomar Phoenix is subject to a ground lease that runs until 2085, inclusive of three renewal options of five years each.