DiamondRock Hospitality Achieves Major Financial Milestone Through Strategic Debt Restructuring

DiamondRock Hospitality Company has dramatically transformed its financial position through a series of strategic debt management initiatives. The hotel real estate investment trust has successfully eliminated all secured liabilities from its balance sheet, achieving unprecedented financial flexibility through recent prepayments and a comprehensive credit facility refinancing.

On September 5, DiamondRock made a strategic prepayment of $166.2 million toward the mortgage on the Westin Boston Seaport District. This decisive action represents the final step in the company’s journey to eliminate all secured debt across its entire hotel portfolio. The company’s obligations are now entirely unsecured and can be prepaid at any time without penalty.

This financial maneuver was made possible by a landmark refinancing arrangement completed earlier this summer.

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