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Debt (Tables)
 9 Months Ended
Sep. 30, 2021
Debt Disclosure [Abstract]  
Summary of Long Term Debt The following table sets forth information regarding the Company’s debt as of September 30, 2021 and December 31, 2020 (dollars in thousands):
Principal Balance as of
LoanInterest Rate as of September 30, 2021Maturity DateSeptember 30, 2021December 31, 2020
Salt Lake City Marriott Downtown at City Creek mortgage loan
LIBOR + 3.25% (1)
January 2022 (2)
$45,900 $47,250 
Westin Washington, D.C. City Center mortgage loan3.99%January 202356,516 58,282 
The Lodge at Sonoma Resort mortgage loan3.96%April 202325,786 26,268 
Westin San Diego Downtown mortgage loan3.94%April 202359,023 60,261 
Courtyard New York Manhattan/Midtown East mortgage loan4.40%August 202478,305 79,535 
Worthington Renaissance Fort Worth Hotel mortgage loan3.66%May 202577,901 79,214 
JW Marriott Denver at Cherry Creek mortgage loan4.33%July 202559,112 60,052 
Westin Boston Seaport District mortgage loan4.36%November 2025183,799 186,840 
Unamortized debt issuance costs(1,977)(2,553)
Total mortgage debt, net of unamortized debt issuance costs584,365 595,149 
Unsecured term loan
LIBOR + 2.40% (3)
October 202350,000 50,000 
Unsecured term loan
LIBOR + 2.40% (4)
July 2024350,000 350,000 
Unamortized debt issuance costs(1,577)(1,450)
Unsecured term loans, net of unamortized debt issuance costs398,423 398,550 
Senior unsecured credit facility
LIBOR + 2.55% (5)
July 2023 (6)
— 55,000 
Total debt, net of unamortized debt issuance costs$982,788 $1,048,699 
Weighted-Average Interest Rate3.97% 
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(1)LIBOR is subject to a floor of 1.0%.
(2)The loan may be extended for an additional year upon satisfaction of certain conditions.
(3)We are party to an interest rate swap agreement that fixes LIBOR at 2.41% through October 2023.
(4)We are party to an interest rate swap agreement that fixes LIBOR at 1.70% through July 2024 for $175 million of the loan. LIBOR is subject to a floor of 0.25%.
(5)LIBOR is subject to a floor of 0.25%.
(6)The credit facility may be extended for an additional year upon the payment of applicable fees and the satisfaction of certain customary conditions.