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Debt
 6 Months Ended
Jun. 30, 2024
Debt Disclosure [Abstract]  
Debt Debt
Credit Facility. During the second quarter, we had a net repayment of $300 million on the revolver portion of our credit facility. As of June 30, 2024, we had $1.5 billion of available capacity under the revolver portion of our credit facility; however, subsequent to quarter end, we drew $525 million on the revolver portion of the credit facility, and as of August 2, 2024, we had $970 million of available capacity under the revolver portion of our credit facility.
Senior Notes. On April 1, 2024, we repaid our $400 million 3⅞% Series G senior notes at maturity.
On May 10, 2024, we issued $600 million of 5.700% Series K senior notes in an underwritten public offering for proceeds of $584 million, net of original issue discount, underwriting fees and expenses. The Series K senior notes are due in July 2034, and interest is payable semi-annually in arrears on January 1 and July 1, commencing January 1, 2025. The Series K senior notes were issued as a “green bond,” and we intend to allocate an amount equal to the net proceeds from the sale of the Series K senior notes to finance and/or refinance one or more eligible green projects, including the April 2024 acquisition of the 1 Hotel Nashville and Embassy Suites by Nashville Downtown, each of which has received LEED Silver certification. Following the allocation to eligible green projects, the net proceeds of this issuance were used to repay the remaining $215 million of borrowings outstanding under the revolver portion of our credit facility. The Series K senior notes are not redeemable prior to 90 days before the July 1, 2034 maturity date, except at a price equal to 100% of their principal amount plus a make-whole premium and accrued and unpaid interest to the applicable redemption date. The Series K senior notes have covenants similar to all other series of our outstanding senior notes.