XML 44 R33.htm IDEA: XBRL DOCUMENT v3.19.2
Debt (Details)
$ in Thousands
1 Months Ended 6 Months Ended
Jan. 29, 2019
USD ($)
Aug. 02, 2018
USD ($)
Jul. 27, 2018
USD ($)
Jul. 31, 2019
Jun. 30, 2019
USD ($)
Jun. 30, 2018
USD ($)
Dec. 31, 2018
USD ($)
Jul. 25, 2017
USD ($)
Debt (Details) [Line Items]                
Proceeds from Issuance of Unsecured Debt         $ 75,000 $ 0    
Debt Issuance Costs, Net         7,930      
Long-term Debt, Gross         $ 1,389,267   $ 1,417,573  
Mortgage Debt [Member]                
Debt (Details) [Line Items]                
Debt Instrument, Maturity Date, Description         maturity dates ranging from June 2020 to January 2038      
Long-term Debt, Gross         $ 461,600      
Number of Hotel Properties Used to Secure Debt         29      
Mortgage Debt [Member] | Minimum [Member]                
Debt (Details) [Line Items]                
Debt Instrument, Interest Rate, Stated Percentage         3.55%      
Debt Instrument, Interest Rate, Effective Percentage         3.55%      
Mortgage Debt [Member] | Maximum [Member]                
Debt (Details) [Line Items]                
Debt Instrument, Interest Rate, Stated Percentage         6.25%      
Debt Instrument, Interest Rate, Effective Percentage         4.97%      
Prior $150 Million Unsecured Term Loan Facility Amended and Restated on August 2, 2018 [Member]                
Debt (Details) [Line Items]                
Term Loan Facility, Maximum Borrowing Capacity   $ 150,000            
Prior $150 Million Unsecured Term Loan Facility Amended and Restated on August 2, 2018 [Member] | Repayment of Amount Outstanding Under Term Loans [Member]                
Debt (Details) [Line Items]                
Repayments of Unsecured Debt   150,000            
$85 Million Unsecured Term Loan [Member]                
Debt (Details) [Line Items]                
Debt Instrument, Face Amount               $ 85,000
Debt Instrument, Maturity Date         Jul. 25, 2024      
Debt Instrument, Description of Variable Rate Basis         one-month LIBOR      
Forward Interest Rate Swaps That Begin in 2020 That Will Effectively Fix the Interest Rate on Variable-Rate Debt [Member]                
Debt (Details) [Line Items]                
Number of Interest Rate Derivatives Held         2      
Derivative, Notional Amount         $ 75,000      
Outstanding Variable-Rate Debt Effectively Fixed By Interest Rate Swaps [Member]                
Debt (Details) [Line Items]                
Derivative, Notional Amount         $ 607,500   $ 557,500  
London Interbank Offered Rate (LIBOR) [Member]                
Debt (Details) [Line Items]                
Debt Instrument, Basis of Variable Rate         2.40%   2.50%  
London Interbank Offered Rate (LIBOR) [Member] | $85 Million Unsecured Term Loan [Member] | Minimum [Member]                
Debt (Details) [Line Items]                
Debt Instrument, Basis Spread on Variable Rate         1.80%      
London Interbank Offered Rate (LIBOR) [Member] | $85 Million Unsecured Term Loan [Member] | Maximum [Member]                
Debt (Details) [Line Items]                
Debt Instrument, Basis Spread on Variable Rate         2.60%      
$850 Million Unsecured Credit Facility [Member]                
Debt (Details) [Line Items]                
Date of Amended and Restated Credit Facility         Jul. 27, 2018      
Line of Credit Facility, Maximum Borrowing Capacity         $ 850,000      
Debt Instrument, Description of Variable Rate Basis         one-month LIBOR      
$850 Million Unsecured Credit Facility [Member] | $425 Million Unsecured Revolving Credit Facility [Member]                
Debt (Details) [Line Items]                
Line of Credit Facility, Maximum Borrowing Capacity         $ 425,000      
Line of Credit Facility, Expiration Date         Jul. 27, 2022      
Proceeds from Lines of Credit     $ 196,000          
Debt Instrument, Maturity Date, Description         maturity date may be extended up to one year      
$850 Million Unsecured Credit Facility [Member] | $425 Million Unsecured Revolving Credit Facility [Member] | Minimum [Member]                
Debt (Details) [Line Items]                
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage         0.20%      
$850 Million Unsecured Credit Facility [Member] | $425 Million Unsecured Revolving Credit Facility [Member] | Maximum [Member]                
Debt (Details) [Line Items]                
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage         0.25%      
$850 Million Unsecured Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member]                
Debt (Details) [Line Items]                
Debt Instrument, Basis Spread on Variable Rate         1.35%      
$850 Million Unsecured Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member]                
Debt (Details) [Line Items]                
Debt Instrument, Basis Spread on Variable Rate         2.25%      
Prior $965 Million Unsecured Credit Facility Amended and Restated on July 27, 2018 [Member]                
Debt (Details) [Line Items]                
Line of Credit Facility, Maximum Borrowing Capacity     965,000          
Prior $965 Million Unsecured Credit Facility Amended and Restated on July 27, 2018 [Member] | Repayment of Amount Outstanding Under Term Loans [Member]                
Debt (Details) [Line Items]                
Repayments of Unsecured Debt     425,000          
$425 Million Unsecured Term Loan Facility [Member] | $850 Million Unsecured Credit Facility [Member]                
Debt (Details) [Line Items]                
Term Loan Facility, Maximum Borrowing Capacity         $ 425,000      
Number of Term Loans         2      
$425 Million Unsecured Term Loan Facility [Member] | $200 Million Unsecured Term Loan [Member] | $850 Million Unsecured Credit Facility [Member]                
Debt (Details) [Line Items]                
Debt Instrument, Face Amount     200,000          
Debt Instrument, Maturity Date         Jul. 27, 2023      
$425 Million Unsecured Term Loan Facility [Member] | $225 Million Unsecured Term Loan [Member] | $850 Million Unsecured Credit Facility [Member]                
Debt (Details) [Line Items]                
Debt Instrument, Face Amount     $ 225,000          
Debt Instrument, Maturity Date         Jan. 31, 2024      
$225 Million Unsecured Term Loan Facility [Member]                
Debt (Details) [Line Items]                
Date of Amended and Restated Credit Facility         Aug. 02, 2018      
Term Loan Facility, Maximum Borrowing Capacity         $ 225,000      
Debt Instrument, Description of Variable Rate Basis         one-month LIBOR      
$225 Million Unsecured Term Loan Facility [Member] | $50 Million Unsecured Term Loan [Member]                
Debt (Details) [Line Items]                
Debt Instrument, Face Amount   50,000            
Debt Instrument, Maturity Date         Aug. 02, 2023      
$225 Million Unsecured Term Loan Facility [Member] | $175 Million Unsecured Term Loan [Member]                
Debt (Details) [Line Items]                
Debt Instrument, Face Amount   $ 100,000            
Debt Instrument, Maturity Date         Aug. 02, 2025      
Total Borrowing Capacity Under Term Loan         $ 175,000      
Debt Instrument, Description         $100 million was funded at closing and the remaining $75 million was funded on January 29, 2019      
Proceeds from Issuance of Unsecured Debt $ 75,000              
$225 Million Unsecured Term Loan Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member]                
Debt (Details) [Line Items]                
Debt Instrument, Basis Spread on Variable Rate         1.35%      
$225 Million Unsecured Term Loan Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member]                
Debt (Details) [Line Items]                
Debt Instrument, Basis Spread on Variable Rate         2.50%      
Revolving Credit Facilities [Member]                
Debt (Details) [Line Items]                
Debt Issuance Costs, Net         $ 3,100   $ 3,600  
Credit Facilities [Member]                
Debt (Details) [Line Items]                
Line of Credit Facility, Covenant Terms         The credit agreements governing the credit facilities contain mandatory prepayment requirements, customary affirmative covenants, negative covenants and events of default.  The credit agreements require that the Company comply with various covenants, which include, among others, a minimum tangible net worth, maximum debt limits, minimum interest and fixed charge coverage ratios and restrictions on certain investments.  The Company was in compliance with the applicable covenants at June 30, 2019.      
Subsequent Event [Member] | London Interbank Offered Rate (LIBOR) [Member] | $85 Million Unsecured Term Loan [Member] | Minimum [Member]                
Debt (Details) [Line Items]                
Debt Instrument, Basis Spread on Variable Rate       1.30%        
Subsequent Event [Member] | London Interbank Offered Rate (LIBOR) [Member] | $85 Million Unsecured Term Loan [Member] | Maximum [Member]                
Debt (Details) [Line Items]                
Debt Instrument, Basis Spread on Variable Rate       2.10%