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Employee Stock Plans (Tables)
 12 Months Ended
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule of Assumption used with Black-Scholes Option Valuations Models We value the TSR awards using the economic theory that is the basis for all valuation models, including Binominal, Black-Scholes, exotic options formulas, and Monte Carlo valuations. We valued the TSR awards with the following assumptions:
NAREIT Lodging & Resorts Index
2023 Award Grants2022 Award Grants
Grant date stock price$18.55 $18.45 
Volatility49.2 %45.0 %
Beta0.6950.667
Risk-free rate - three year award4.08 %1.61 %
Schedule Payout for TSR Awards
The payout schedule for the TSR awards is as follows, with linear interpolation for points between the 30th and 75th percentiles:
TSR Percentile RankingPayout (% of Maximum)
At or above 75th percentile100 %
50th percentile50 %
30th percentile25 %
Below 30th percentile— %
Summary of Status of Senior Executive Plans The following table is a summary of the status of our senior executive plans for the three years ended December 31, 2023:
 Year ended December 31,
202320222021
Shares
(in millions)
Fair Value
(per share)
Shares
(in millions)
Fair Value
(per share)
Shares
(in millions)
Fair Value
(per share)
Balance, at beginning of year3.4$15 3.2$12 1.6$10 
Granted1.616 1.617 2.714 
Vested (1)
(2.2)19 (1.3)16 (0.9)17 
Forfeited/expired(0.2)19 (0.1)16 (0.2)17 
Balance, at end of year2.617 3.415 3.212 
Issued in calendar year ⁽²⁾
0.716 0.517 0.615 
___________
(1)Shares that vest at December 31 of each year are issued to the employees in the first quarter of the following year, although the requisite service period is complete. Accordingly, the 0.7 million shares issued in 2023 include shares vested at December 31, 2022, after adjusting for shares withheld to meet employee tax requirements. The shares withheld for employee tax requirements were valued at $11 million, $8 million and $7 million for 2023, 2022 and 2021, respectively.