Debt (Tables)

12 Months Ended

Dec. 31, 2015

Debt Disclosure [Abstract]

Schedule of Consolidated Debt

Consolidated debt consisted of the following (in thousands):

	Encumbered	Interest	Maturity	December 31,
	Hotels	Rate (%)	Date	2015		2014
Senior unsecured notes	—	6.00	June 2025	$	475,000	$	—
Senior secured notes	9	5.625	March 2023	525,000		525,000
Mortgage debt(a)	4	4.95	October 2022	122,237		124,278
Mortgage debt	1	4.94	October 2022	30,717		31,228
Line of credit(b)	7	LIBOR + 2.75	June 2019	190,000		—
Knickerbocker loan(c)	1	LIBOR + 3.00	November 2017	85,000		64,861
Retired debt	—	—	—	—		840,500
Total	22			$	1,427,954	$	1,585,867

(a) This debt is comprised of separate non-cross-collateralized loans, each secured by a mortgage encumbering different hotels.

(b) Our line of credit can be extended for one year, subject to satisfying certain conditions. We may borrow up to $400 million under our line of credit.

(c) This loan can be extended for one year, subject to satisfying certain conditions At December 31, 2014, $6.3 million of this loan was secured by cash collateral with an interest rate of LIBOR + 1.25%.

Schedule of Future Scheduled Principal Payments on Debt Obligations

Future scheduled principal payments on debt obligations at December 31, 2015 are as follows (in thousands):

Year
2016	$	2,488
2017	87,810
2018	2,954
2019	193,106
2020	3,245
Thereafter	1,138,351
	$	1,427,954