Home Our Properties Corporate Governance Investor Relations Contact Us Preserving a clean, conservative balance sheet that supports strategic and financial flexibility, dividends and shareholder returns. DiamondRock's straightforward capital structure and low leverage, with the majority of our properties unencumbered, provides us with strategic and financial flexibility across the cycle. We believe this approach differentiates us by reducing our exposure to the risks of cyclicality in lodging fundamentals and supporting sustained dividends across the cycle, a key component of REIT returns over time. Additionally, our conservative capital structure helps us achieve the optimal balance between value, risk and cost of capital. Moreover, we believe this capital structure positions DiamondRock better than more leveraged peers to opportunistically acquire strategically and financially attractive assets from motivated sellers later in the cycle. Our current debt outstanding consists of primarily fixed-interest rate mortgage debt with no significant maturities until late 2014 and limited outstanding borrowings under our senior unsecured credit facility. A significant portion of our portfolio remains unencumbered by debt; to the extent that we incur additional debt, our preference is non-recourse, secured mortgage debt. We have not invested in joint ventures and have not issued any operating partnership units or preferred stock. We endeavor to structure our hotel acquisitions so that they will not overly complicate our capital structure; however, we will consider alternative structures if we believe that the projected returns to our stockholders will significantly exceed the returns that would otherwise be available. Back Back to Home Home Our Properties Corporate Governance Investor Relations Contact Us Privacy Policy Site Map DiamondRock Hospitality Company 3 Bethesda Metro Center | Suite 1500 Bethesda, Maryland 20814 Phone: (240) 744-1150