July 25, 2025
Willkie advised DiamondRock Hospitality Company in the successful refinancing, upsizing and extension of maturities under its senior unsecured credit facility.
DiamondRock amended its $1.2 billion facility, increasing the size to $1.5 billion and extending the maturity schedule. The credit facility is comprised of a $400 million revolving credit facility maturing in January 2031, inclusive of two six-month extension options, a $500 million term loan maturing in January 2029, inclusive of two six-month extension options, a $300 million term loan maturing in January 2030 and a $300 million term loan maturing in January 2030, inclusive of two six-month extension options. The term loans are prepayable at any time without prepayment penalty.
DiamondRock Hospitality Company is a self-advised real estate investment trust (REIT) that owns a leading portfolio of geographically diversified hotels concentrated in leisure destinations and top gateway markets. It currently owns 36 premium quality hotels and resorts with approximately 9,600 rooms.
The Willkie team was led by partners David Drewes and Jonathan Zane, and included partner Jennifer Coffey, counsel Ajanaclair Lynch, and associates Lee Henderson, Zane Makorie and Andrew Nesmith.
DiamondRock amended its $1.2 billion facility, increasing the size to $1.5 billion and extending the maturity schedule. The credit facility is comprised of a $400 million revolving credit facility maturing in January 2031, inclusive of two six-month extension options, a $500 million term loan maturing in January 2029, inclusive of two six-month extension options, a $300 million term loan maturing in January 2030 and a $300 million term loan maturing in January 2030, inclusive of two six-month extension options. The term loans are prepayable at any time without prepayment penalty.
DiamondRock Hospitality Company is a self-advised real estate investment trust (REIT) that owns a leading portfolio of geographically diversified hotels concentrated in leisure destinations and top gateway markets. It currently owns 36 premium quality hotels and resorts with approximately 9,600 rooms.
The Willkie team was led by partners David Drewes and Jonathan Zane, and included partner Jennifer Coffey, counsel Ajanaclair Lynch, and associates Lee Henderson, Zane Makorie and Andrew Nesmith.
