XML 54 R38.htm IDEA: XBRL DOCUMENT v3.22.2
Indebtedness (Details)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Apr. 14, 2022
USD ($)
Jun. 30, 2022
USD ($)
hotel
Jun. 30, 2021
USD ($)
Jun. 30, 2022
USD ($)
extension
hotel
Jun. 30, 2021
USD ($)
Dec. 31, 2020
USD ($)
hotel
Jun. 15, 2022
Apr. 13, 2022
USD ($)
Dec. 31, 2021
USD ($)
Indebtedness                  
Revolving credit facility, outstanding borrowings   $ 800,000   $ 800,000         $ 1,000,000
Senior unsecured notes, net   5,649,650   5,649,650         $ 6,143,022
Repayments of credit facility       200,000 $ 62,451        
Loss on early extinguishment of debt   $ (791) $ 0 $ (791) $ 0        
Senior Unsecured Notes, due 2022 at 5.00%                  
Indebtedness                  
Interest rate, stated percentage   5.00%   5.00%   5.00% 5.00%    
Loss on early extinguishment of debt   $ 201   $ 201          
COVID-19 | Senior Unsecured Notes, due 2022 at 5.00%                  
Indebtedness                  
Senior notes $ 500,000                
Revolving credit facility                  
Indebtedness                  
Revolving credit facility, maximum borrowing capacity $ 800,000 $ 800,000   $ 800,000       $ 1,000,000  
Debt extension option, number | extension       1          
Extension term 6 months     6 months   6 months      
Credit facility fee percentage       0.30%          
Annual interest rate   3.69%   3.69%          
Weighted average annual interest rate   3.25% 2.85% 3.05% 2.85%        
Minimum restricted liability   $ 150,000   $ 150,000   $ 125,000      
Repayments of credit facility $ 200,000                
Maximum purchase price of real property $ 300,000                
Fixed charge coverage ratio 1             1.5  
Leverage ratio limit 70.00%             60.00%  
Capital contributions $ 100,000                
Increase in aggregate limit of capital contributions $ 50,000                
Premium increase 0.25%                
Loss on early extinguishment of debt       $ 590          
Revolving credit facility | COVID-19                  
Indebtedness                  
Revolving credit facility, maximum borrowing capacity           $ 2,300,000      
Revolving credit facility | LIBOR                  
Indebtedness                  
Basis spread on variable rate 2.50%     2.35%          
LIBOR floor       0.50%          
Senior unsecured notes                  
Indebtedness                  
Senior unsecured notes, net   $ 5,700,000   $ 5,700,000          
Revolving Credit Facility And Term Loan                  
Indebtedness                  
Collateral properties with first mortgage liens | hotel   73   73   74      
Collateral to secure debt   $ 1,578,603   $ 1,578,603          
Revolving Credit Facility And Term Loan | Maximum                  
Indebtedness                  
Funding capital expenditures           $ 250,000      
Other investments           $ 50,000