XML 33 R23.htm IDEA: XBRL DOCUMENT
v3.25.2

Debt (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2025
Debt Disclosure [Abstract] |
Schedule of Long Term Debt | The following table sets forth information regarding the Company’s debt (dollars in thousands):
|  |  |  |  |  | Principal Balance as of
Loan |  | Interest Rate |  | Maturity Date |  | June 30, 2025 |  | December 31, 2024
Worthington Renaissance Fort Worth Hotel mortgage loan |  | 3.66% |  | May 2025 |  | $ | — |  |  | $ | 71,766 |
Hotel Clio mortgage loan |  | 4.33% |  | July 2025 |  | 53,910 |  |  | 54,657 |
Westin Boston Seaport District mortgage loan |  | 4.36% |  | November 2025 |  | 166,966 |  |  | 169,385 |
Unsecured term loan |  | SOFR + 1.35% (1) |  | January 2028 |  | 500,000 |  |  | 500,000 |
Unsecured term loan |  | SOFR + 1.35% (2) |  | January 2026 |  | 300,000 |  |  | 300,000 |
Senior unsecured credit facility |  | SOFR + 1.40% |  | September 2026 (3) |  | — |  |  | — |
Total debt |  |  |  |  |  | 1,020,876 |  |  | 1,095,808 |
Unamortized debt issuance costs (4) |  |  |  |  |  | (556) |  |  | (514) |
Debt, net of unamortized debt issuance costs |  |  |  |  |  | $ | 1,020,320 |  |  | $ | 1,095,294 |
Weighted-Average Interest Rate (5) |  | 5.17% |  |  |  |  |  |
_______________________ (1)Interest rate as of June 30, 2025 was 5.12%, which includes the effect of interest rate swaps. (2)Interest rate as of June 30, 2025 was 5.74%. (3)Maturity date may be extended for an additional year upon the payment of applicable fees and the satisfaction of certain customary conditions. (4)Excludes debt issuance costs related to our senior unsecured credit facility, which are included within Prepaid and Other Assets on the accompanying consolidated balance sheets. (5)Includes the effect of interest rate swaps. See Note 6 for additional disclosures on interest rate swaps.
Schedule of Line of Credit Facility Leverage and Applicable Margin | The applicable margin is based upon our leverage ratio, as follows:
Leverage Ratio |  | Applicable Margin for Revolving Loans |  | Applicable Margin for Term Loans
Less than 30% |  | 1.40% |  | 1.35%
Greater than or equal to 30% but less than 35% |  | 1.45% |  | 1.40%
Greater than or equal to 35% but less than 40% |  | 1.50% |  | 1.45%
Greater than or equal to 40% but less than 45% |  | 1.60% |  | 1.55%
Greater than or equal to 45% but less than 50% |  | 1.80% |  | 1.75%
Greater than or equal to 50% but less than 55% |  | 1.95% |  | 1.85%
Greater than or equal to 55% |  | 2.25% |  | 2.20%
Schedule of the Most Significant Covenants | The Credit Agreement and Amended Credit Facility contain various financial covenants. These financial covenants are not changed or waived by the Amended Credit Facility. A summary of the most significant covenants is as follows:
|  |  |  | Actual at
| Covenant |  |  | June 30, 2025
Maximum leverage ratio (1) | 60% |  |  | 25.7%
Minimum fixed charge coverage ratio (2) | 1.50x |  |  | 3.14x
Secured recourse indebtedness | Less than 45% of Total Asset Value |  |  | 6.5%
Maximum unencumbered leverage ratio | 60% |  |  | 25.5%
Minimum unencumbered implied debt service coverage ratio | 1.20x |  |  | 2.94x
_____________________________ (1)Leverage ratio is net indebtedness, as defined in the Credit Agreement, divided by total asset value, defined in the Credit Agreement as the value of our owned hotels based on hotel net operating income divided by a defined capitalization rate. (2)Fixed charge coverage ratio is Adjusted EBITDA, generally defined in the Credit Agreement as EBITDA less FF&E reserves, for the most recent trailing 12 month period, to fixed charges, which is defined in the Credit Agreement as interest expense, all regularly scheduled principal payments and payments on capitalized lease obligations, for the same 12 month period.
Schedule of Components of Interest Expense | The components of the Company's interest expense consist of the following (in thousands):
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
|  | 2025 |  | 2024 |  | 2025 |  | 2024
Unsecured term loan interest |  | $ | 10,868 |  |  | $ | 11,368 |  |  | $ | 21,630 |  |  | $ | 22,755 |
Mortgage debt interest |  | 2,699 |  |  | 4,009 |  |  | 5,791 |  |  | 8,044 |
Credit facility interest and unused fees |  | 312 |  |  | 312 |  |  | 620 |  |  | 623 |
Amortization of debt issuance costs |  | 521 |  |  | 513 |  |  | 1,056 |  |  | 1,026 |
Finance lease expense(1) |  | 468 |  |  | — |  |  | $ | 929 |  |  | $ | — |
|  | $ | 14,868 |  |  | $ | 16,202 |  |  | $ | 30,026 |  |  | $ | 32,448 |
_____________ (1)In October 2024, we extended the term on one of our ground leases, and, as a result, the lease classification changed from an operating lease to a finance lease.

X
- Definition Components Of Interest Expense + References No definition available. + Details
Name: | drh_ComponentsOfInterestExpenseTableTextBlock
Namespace Prefix: | drh_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Line Of Credit Facility Covenant Compliance + References No definition available. + Details
Name: | drh_LineOfCreditFacilityCovenantComplianceTableTextBlock
Namespace Prefix: | drh_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Line Of Credit Facility Leverage And Applicable Margin + References No definition available. + Details
Name: | drh_LineOfCreditFacilityLeverageAndApplicableMarginTableTextBlock
Namespace Prefix: | drh_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DebtDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -SubTopic 10 -Topic 210 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 942 -SubTopic 235 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477314/942-235-S99-2 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-4 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3 Reference 5: http://www.xbrl.org/2003/role/exampleRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 69B -Publisher FASB -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B Reference 6: http://www.xbrl.org/2003/role/exampleRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 69E -Publisher FASB -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69E Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 835 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482925/835-30-45-2 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-3 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477734/942-470-50-3 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-8 Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-6 Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-7 + Details
Name: | us-gaap_ScheduleOfDebtInstrumentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration