XML 41 R40.htm IDEA: XBRL DOCUMENT v3.20.1
Notes Payable (Details)
1 Months Ended 3 Months Ended 12 Months Ended
Mar. 31, 2020
USD ($)
property
Mar. 31, 2020
USD ($)
property
Dec. 31, 2019
USD ($)
property
Notes Payable      
Total notes payable $ 1,272,965,000 $ 1,272,965,000 $ 974,863,000
Current portion of notes payable 83,724,000 83,724,000 83,975,000
Less: current portion of deferred financing costs (1,535,000) (1,535,000) (1,866,000)
Current portion of notes payable, net 82,189,000 82,189,000 82,109,000
Notes payable, less current portion 1,189,241,000 1,189,241,000 890,888,000
Less: long-term portion of deferred financing costs (1,773,000) (1,773,000) (1,934,000)
Carrying value of notes payable, less current portion $ 1,187,468,000 $ 1,187,468,000 $ 888,954,000
Notes payable maturing in various years      
Notes Payable      
Number of hotels provided as collateral | property 4 4 4
Total notes payable $ 327,965,000 $ 327,965,000 $ 329,863,000
Notes payable maturing in various years | Minimum      
Notes Payable      
Fixed interest rate (as a percent) 4.12% 4.12% 4.12%
Debt maturity date   Nov. 01, 2020 Nov. 01, 2020
Notes payable maturing in various years | Maximum      
Notes Payable      
Fixed interest rate (as a percent) 5.95% 5.95% 5.95%
Debt maturity date   Jan. 06, 2025 Jan. 06, 2025
Hilton San Diego Bayfront mortgage payable      
Notes Payable      
Debt maturity date   Dec. 09, 2020 Dec. 09, 2020
Number of hotels provided as collateral | property 1 1 1
Interest rate, description of reference rate   one-month LIBOR one-month LIBOR
Interest rate added to base rate (as a percent)   1.05% 1.05%
Number of extension periods available for secured debt   3 3
Term of extension period for secured debt   1 year 1 year
Total notes payable $ 220,000,000 $ 220,000,000 $ 220,000,000
$85.0 million term loan      
Notes Payable      
Debt maturity date   Sep. 03, 2022 Sep. 03, 2022
Term loan total interest rate, including effect of swap agreement 2.941% 2.941% 2.941%
Total notes payable $ 85,000,000 $ 85,000,000 $ 85,000,000
$85.0 million term loan | Minimum      
Notes Payable      
Interest rate added to base rate (as a percent)   1.35% 1.35%
$85.0 million term loan | Maximum      
Notes Payable      
Interest rate added to base rate (as a percent)   2.20% 2.20%
$100.0 million term loan      
Notes Payable      
Debt maturity date   Jan. 31, 2023 Jan. 31, 2023
Term loan total interest rate, including effect of swap agreement 3.203% 3.203% 3.203%
Total notes payable $ 100,000,000 $ 100,000,000 $ 100,000,000
$100.0 million term loan | Minimum      
Notes Payable      
Interest rate added to base rate (as a percent)   1.35% 1.35%
$100.0 million term loan | Maximum      
Notes Payable      
Interest rate added to base rate (as a percent)   2.20% 2.20%
Series A Senior Notes      
Notes Payable      
Fixed interest rate (as a percent) 4.69% 4.69% 4.69%
Debt maturity date   Jan. 10, 2026 Jan. 10, 2026
Total notes payable $ 120,000,000 $ 120,000,000 $ 120,000,000
Series B Senior Notes      
Notes Payable      
Fixed interest rate (as a percent) 4.79% 4.79% 4.79%
Debt maturity date   Jan. 10, 2028 Jan. 10, 2028
Total notes payable $ 120,000,000 $ 120,000,000 $ 120,000,000
Not designated as hedging instrument | Interest Rate Swap | $85.0 million term loan      
Notes Payable      
Interest rate, description of reference rate   one-month LIBOR one-month LIBOR
Fixed rate under interest rate swap agreement 1.591% 1.591% 1.591%
Not designated as hedging instrument | Interest Rate Swap | $100.0 million term loan      
Notes Payable      
Interest rate, description of reference rate   one-month LIBOR one-month LIBOR
Fixed rate under interest rate swap agreement 1.853% 1.853% 1.853%
Unsecured revolving credit facility      
Notes Payable      
Interest rate, description of reference rate one-month LIBOR one-month LIBOR  
Credit facility expiration date Apr. 14, 2023 Apr. 14, 2023  
Number of hotel subsidiaries whose interests are pledged to the credit facility   14  
Total notes payable $ 300,000,000 $ 300,000,000  
Unsecured revolving credit facility | Minimum      
Notes Payable      
Interest rate added to base rate (as a percent) 1.40% 1.40%  
Unsecured revolving credit facility | Maximum      
Notes Payable      
Interest rate added to base rate (as a percent)   2.25%