Company: DRH-PA
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001298946-25-000077
Chunk: 12

Company: DiamondRock Hospitality Co
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 1
Chunk 12
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 + 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 debt1,020,876 1,095,808 Unamortized debt issuance costs (4)(556)(514)Debt, net of unamortized debt issuance costs$1,020,320 $1,095,294 Weighted-Average Interest Rate (5)5.17% _______________________(1)Interest rate as of June 30, 2025 was 5.12%, which includes the effect of interest rate swaps.(2)Interest rate as of June 30, 2025 was 5.74%.(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. On May 6, 2025, we repaid the Worthington Renaissance Fort Worth Hotel mortgage loan using cash on hand. As of June 30, 2025, two of our 36 hotels were secured by mortgage loans which mature in July and November 2025. On July 2, 2025, the Company drew $60.0 million on its existing revolving credit facility, the proceeds from which were used to repay the Hotel Clio mortgage loan on its maturity date of July 3, 2025. The $60.0 million drawn on the existing revolving credit facility was repaid on July 22, 2025.Our mortgage debt contains certain property specific covenants and restrictions, including minimum debt service coverageratios or debt yields that trigger “cash trap” provisions, as well as restrictions on incurring