DiamondRock Hospitality Co., Bethesda, Md., a real estate investment trust that invests in premium hotel properties, has announced the closing of a four-year, $200 million unsecured revolving credit facility.The facility replaces DiamondRock's $75 million secured revolving credit facility, the real estate investment trust said. The interest rate for the new facility is based on grid pricing, with an expected spread of 95 basis points over the London interbank offered rate, which is up to 50 bps lower than the rate on the previous facility, the REIT said. The company can be found online at http://www.diamondrockhospitality.com.
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