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Contingencies
 6 Months Ended
Jun. 30, 2024
Loss Contingency [Abstract]  
Contingencies Contingencies
While the majority of our hotels in Florida were affected by Hurricane Ian, which made landfall on September 28, 2022, the most significant damage sustained during the storm occurred at The Ritz-Carlton, Naples and Hyatt Regency Coconut Point Resort and Spa. The Hyatt Regency Coconut Point reopened to guests in November 2022, with the final phase of reconstruction, the resort's waterpark, completed in June 2023. On July 6,
2023, The Ritz-Carlton, Naples reopened the guestrooms, suites and amenities, including the new tower expansion.
Our estimate of the book value of the property and equipment written off and remediation costs is approximately $130 million, for which we recorded a corresponding insurance receivable. As of June 30, 2024, we have received $279 million of insurance proceeds related to these claims, of which $130 million reduced our receivable to zero and, during the second quarter, $9 million of these proceeds were recognized as a gain on business interruption and $26 million was recognized as a gain on property insurance, which are both included in gain on insurance settlements on our unaudited condensed consolidated statements of operations. Subsequent to quarter end, we received an additional $25 million of insurance proceeds.
Additionally, during the second quarter, we recognized $21 million of business interruption proceeds related to claims resulting from the August 2023 wildfires in Maui. This was included in gain on insurance settlements on our unaudited condensed consolidated statement of operations. There was no property damage caused by the event.