Debt as of March 31, 2013 and December 31, 2012 consisted of the following (dollars in thousands):



			Balance Outstanding as of
	Interest Rate	Maturity Date	March 31, 2013		December 31, 2012
Senior unsecured revolving credit facility	Floating	July 2016	$	—	$	—

Term loan	Floating⁽¹⁾	July 2017	100,000		100,000

Mortgage loans
InterContinental Buckhead	4.88%	January 2016	50,810		51,022
Skamania Lodge	5.44%	February 2016	30,138		30,252
DoubleTree by Hilton Bethesda-Washington DC	5.28%	February 2016	35,473		35,602
Embassy Suites San Diego Bay-Downtown	6.28%	June 2016	66,608		—
Monaco Washington DC	4.36%	February 2017	45,174		45,368
Argonaut Hotel	4.25%	March 2017	45,950		46,223
Sofitel Philadelphia	3.90%	June 2017	49,117		49,419
Hotel Palomar San Francisco	5.94%	September 2017	27,039		27,124
Westin Gaslamp Quarter, San Diego	3.69%	January 2020	80,662		81,000
Mortgage loans at stated value			430,971		366,010
Mortgage loan premiums ⁽²⁾			6,866		2,498
Total mortgage loans			$	437,837	$	368,508
Total debt			$	537,837	$	468,508