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Debt (Tables)
 9 Months Ended
Sep. 30, 2020
Debt Disclosure [Abstract]  
Summary of long term debt The following table sets forth information regarding the Company’s debt as of September 30, 2020 and December 31, 2019 (dollars in thousands):
Principal Balance as of
LoanInterest Rate as of September 30, 2020Maturity DateSeptember 30, 2020December 31, 2019
Salt Lake City Marriott Downtown at City Creek mortgage loan (repaid on June 25, 2020)4.25%November 2020$— $53,273 
Salt Lake City Marriott Downtown at City Creek mortgage loan
LIBOR + 3.25% (1)
January 2022 (2)47,700 — 
Westin Washington, D.C. City Center mortgage loan3.99%January 202358,860 60,550 
The Lodge at Sonoma Renaissance Resort & Spa mortgage loan3.96%April 202326,502 26,963 
Westin San Diego Downtown mortgage loan3.94%April 202360,668 61,851 
Courtyard New York Manhattan/Midtown East mortgage loan4.40%August 202479,940 81,107 
Worthington Renaissance Fort Worth Hotel mortgage loan3.66%May 202579,647 80,904 
JW Marriott Denver at Cherry Creek mortgage loan4.33%July 202560,361 61,253 
Westin Boston Waterfront mortgage loan4.36%November 2025187,839 190,725 
New Market Tax Credit loan (3)5.17%December 20202,943 2,943 
Unamortized debt issuance costs(2,745)(3,240)
Total mortgage and other debt, net of unamortized debt issuance costs601,715 616,329 
Unsecured term loan
LIBOR + 2.35% (4)
October 202350,000 50,000 
Unsecured term loan
LIBOR + 2.35% (5)
July 2024350,000 350,000 
Unamortized debt issuance costs(1,557)(1,230)
Unsecured term loans, net of unamortized debt issuance costs398,443 398,770 
Senior unsecured credit facility
LIBOR + 2.40% (6)
July 2023 (7)99,985 75,000 
Total debt, net of unamortized debt issuance costs$1,100,143 $1,090,099 
Weighted-Average Interest Rate3.84% 
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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)Assumed in connection with the acquisition of the Hotel Palomar Phoenix on March 1, 2018.
(4)We are party to an interest rate swap agreement that fixes LIBOR at 2.41% through October 2023.
(5)We are party to an interest rate swap agreement that fixes LIBOR at 1.70% through July 2024 for $175 million of the loan. Effective June 9, 2020, LIBOR is subject to a floor of 0.25%.
(6)Effective June 9, 2020, LIBOR is subject to a floor of 0.25%.
(7)    The credit facility may be extended for an additional year upon the payment of applicable fees and the satisfaction of certain customary conditions.