08:26 AM EDT, 07/23/2025 (MT Newswires) -- DiamondRock Hospitality ( DRH ) said Wednesday it has increased its existing $1.2 billion credit facility to $1.5 billion and extended the maturity schedule.

The credit facility consists of a $400 million revolving credit facility maturing in January 2031, a $500 million term loan maturing in January 2029, a $300 million term loan maturing in January 2030, and a $300 million term loan maturing in January 2030, all inclusive of two six-month extension options, the company said. The term loans are prepayable at any time without prepayment penalty, the company added.

DiamondRock said it plans to use the incremental $300 million of proceeds under the credit facility to repay three mortgage loans that matured or will mature in 2025.