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Dispositions | 12 Months Ended
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Dec. 31, 2024
Discontinued Operations and Disposal Groups [Abstract] |
Dispositions | Dispositions We disposed of one hotel in 2023 and four hotels in 2022, and recorded aggregate gains on sale of approximately $69 million and $18 million, respectively. The gain on sale of assets is included in other gains on the statement of operations. We did not have any dispositions during 2024. In conjunction with the sale of The Camby, Autograph Collection in 2023, we provided a $72 million loan to the buyer. The loan had an initial interest rate equal to Term SOFR plus 425 basis points and an initial scheduled maturity date of June 10, 2025. An additional $7 million in funding was borrowed for property improvement plan financing. As of December 31, 2024, the outstanding loan was included in Notes Receivable on our balance sheets. Subsequent to year-end, the loan to the buyer was repaid in full. In connection with the sales of the Sheraton Boston Hotel and Sheraton New York Times Square Hotel in 2022, we provided loans to the buyers for $163 million and $250 million, respectively. These loans were repaid during 2023.

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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/205-20/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent + Details
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