Company: DRH-PA
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001298946-25-000015
Chunk: 107

Company: DiamondRock Hospitality Co
Filing Date: 2025-02-28
Form: 10-K
Item: Item 16
Chunk 107
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 decrease in expected future cash flows caused by a shortened hold period that may indicate an investment in a hotel property would not be recoverable. We assessed the Company’s intent and ability to hold each hotel property by examining documents to assess the Company’s plans, if any, to dispose of individual hotel properties. We inquired of Company officials and obtained written representations regarding the status of potential plans, if any, to dispose of individual hotel properties, corroborated the Company’s plans with others in the organization who are responsible for, and have the authority over, potential disposition activities. When events or changes in circumstances indicated the carrying amount of a hotel property may not be recoverable, we challenged the methodology and significant assumptions used by the Company to estimate undiscounted future cash flows.

/s/ KPMG LLP

We have served as the Company’s auditor since 2004.

McLean, Virginia

February 28, 2025

F-5

DIAMONDROCK HOSPITALITY COMPANY

CONSOLIDATED BALANCE SHEETS

(in thousands, except share and per share amounts)

As of December 31,20242023ASSETS  Property and equipment, net$2,631,221 $2,755,195 Assets held for sale93,400 — Right-of-use assets89,931 97,692 Restricted cash47,408 45,576 Due from hotel managers145,947 144,689 Prepaid and other assets82,963 73,940 Cash and cash equivalents81,381 121,595 Total assets$3,172,251 $3,238,687 LIABILITIES AND EQUITY  Liabilities:  Debt, net of unamortized debt issuance costs1,095,294 1,177,005 Lease liabilities85,235 112,866 Due to hotel managers121,734 116,522 Liabilities of assets held for sale3,352 — Deferred rent73,535 69,209 Unfavorable contract liabilities, net58,208 59,866 Accounts payable and accrued expenses79,201 39,563 Distributions declared and unpaid49,034 6,324 Deferred income related to key money, net7,726 8,349 Total liabilities1,573,319 1,589,704 Equity:Preferred stock, $0.01 par value; 10,000,000 shares authorized