Company: DRH-PA
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001298946-25-000085
Chunk: 57

Company: DiamondRock Hospitality Co
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 57
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14,534 24,969  3,668,936 3,610,631 Less: accumulated depreciation(1,063,108)(979,410) $2,605,828 $2,631,221 

As of September 30, 2025 and December 31, 2024, we had accrued capital expenditures of $3.9 million and $5.4 million, respectively. During the three and nine months ended September 30, 2025, we recorded an impairment loss of $1.1 million related to the write-off of construction in progress that was determined not to be recoverable.  

4.  Hotel Dispositions

On February 19, 2025, we sold the Westin Washington, D.C. City Center to an unaffiliated third party for $92.0 million. During the fourth quarter of 2024, we evaluated the recoverability of the carrying amount of the Westin Washington, D.C. City Center as a result of our assessment that it was more likely than not that the hotel would be sold significantly before the end of its previously estimated useful life. As a result, we recorded an impairment loss of $32.6 million during the fourth quarter of 2024 to adjust the hotel's carrying amount to its estimated fair value less cost to sell. The fair value was determined based on the contractual sales price pursuant to an executed purchase and sale agreement. As of December 31, 2024, $93.4 million and $3.4 million were classified as assets held for sale and liabilities of assets held for sale, respectively.  We received net proceeds of approximately $89.0 million from the transaction after consideration of transaction costs and an adjustment for the hotel's working capital. 

5.  Debt

The following table sets forth information regarding the Company’s debt (dollars in thousands):Principal Balance as ofLoanInterest RateMaturity DateSeptember 30, 2025December 31, 2024Worthington Renaissance Fort Worth Hotel mortgage loan3.66%May 2025$— $71,766 Hotel Clio mortgage loan4.33%July 2025— 54,657 Westin Boston Seaport District mortgage loan4.36%November 2025— 169,385 Unsecured term loanSOFR + 1.35%January 2026 (1)— 300,000 Unsecured term loan  SOFR +