DIAMONDROCK HOSPITALITY COMPLETES $1.5 BILLION REFINANCING

Core Viewpoint - DiamondRock Hospitality Company has successfully refinanced, upsized, and extended the maturities of its senior unsecured credit facility, enhancing its balance sheet strength and flexibility [1][3]. Group 1: Credit Facility Details - The existing $1.2 billion credit facility has been increased to $1.5 billion, with a maturity schedule extended [1]. - The Credit Facility includes a $400 million revolving credit facility maturing in January 2031, a $500 million term loan maturing in January 2029, and two $300 million term loans maturing in January 2030, all with prepayment options [1][2]. - The Company plans to use the additional $300 million to repay three mortgage loans totaling approximately $125 million that matured in 2025 [2]. Group 2: Financial Strategy and Position - Following the repayment of the mortgage loans, the Company will have no debt maturities until January 2028, resulting in a fully unencumbered portfolio [2]. - The Company emphasizes maintaining low leverage and financial flexibility to capitalize on future capital allocation opportunities [3]. Group 3: Company Overview - DiamondRock Hospitality Company is a self-advised real estate investment trust (REIT) with a portfolio of 36 premium quality hotels and resorts, totaling approximately 9,600 rooms [5]. - The Company operates hotels under leading global brands and independent boutique hotels in leisure destinations and top gateway markets [5].