Debt (Tables)

12 Months Ended

Dec. 31, 2019

The following table presents the non-recourse debt on our Consolidated Hotels (dollars in thousands):



				Carrying Amount at December 31,
Consolidated Hotels	Interest Rate	Rate Type	Maturity Date	2019		2018
Seattle Marriott Bellevue ^{(a) (b) (c)}	3.88%	Variable	1/2020	$	97,895	$	99,719
Le Méridien Arlington ^{(b) (c)}	4.44%	Variable	6/2020	34,755		34,787
San Jose Marriott ^{(b) (c)}	4.44%	Variable	7/2020	87,460		87,880
Renaissance Atlanta Midtown Hotel ^{(b) (d)}	3.96%	Variable	8/2021	48,589		48,332
Ritz-Carlton San Francisco	4.59%	Fixed	2/2022	142,923		142,887
Charlotte Marriott City Center	4.53%	Fixed	6/2022	102,636		102,488
Courtyard Nashville Downtown	4.15%	Fixed	9/2022	54,965		55,051
Marriott Sawgrass Golf Resort & Spa ^{(b) (d)}	3.76%	Variable	11/2022	88,747		77,997
Embassy Suites by Hilton Denver-Downtown/Convention Center	3.90%	Fixed	12/2022	98,073		99,818
San Diego Marriott La Jolla	4.13%	Fixed	8/2023	84,422		84,877
				$	840,465	$	833,836

___________


(a)	On January 22, 2020, we refinanced this loan with a new $98.8 million non-recourse mortgage loan. The loan has a floating annual interest rate of LIBOR plus 2.7%, which has effectively been fixed at 4.2% through an interest rate swap agreement, and a maturity date of January 22, 2023.


(b)	These mortgage loans have variable interest rates, which have effectively been capped or converted to fixed rates through the use of interest rate caps or swaps (Note 7). The interest rates presented for these mortgage loans reflect the rates in effect at December 31, 2019 through the use of an interest rate cap or swap, as applicable.


(c)	These mortgage loans have one-year extension options, which are subject to certain conditions. The maturity dates in the table do not reflect the extension options.


(d)	These mortgage loans have two one-year extension options, which are subject to certain conditions. The maturity dates in the table do not reflect the extension options.

Scheduled debt principal payments during each of the next five calendar years following December 31, 2019 are as follows (in thousands):



Years Ending December 31,	Total
2020 ^(a)	$	224,614
2021	53,497
2022	485,618
2023	79,878
2024	—
Total principal payments	843,607
Unamortized deferred financing costs	(3,142		)
Total	$	840,465

__________


(a)	Balance included a $97.7 million scheduled balloon payment on a consolidated mortgage loan, which was refinanced on January 22, 2020.