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Fair Value Measurements
 12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements
Other Liabilities
Fair Value of Other Financial Liabilities. We did not elect the fair value measurement option for any of our other financial assets or liabilities. The fair values of our notes receivable, secured debt and our credit facility are determined based on the expected future payments discounted at risk-adjusted rates. Senior notes are valued based on quoted market prices. The fair values of financial instruments not included in this table are estimated to be equal to their carrying amounts. The fair value of certain financial assets and financial liabilities is shown below (in millions):
December 31, 2024December 31, 2023
Carrying AmountFair ValueCarrying AmountFair Value
Financial assets
Notes receivable (Level 2)$79 $80 $72 $73 
Financial liabilities
Senior notes (Level 1)3,993 3,838 3,120 2,915 
Credit facility (Level 2)992 1,000 989 1,000 
Mortgage debt (Level 2)98 91 100 86 
    As of December 31, 2024, notes receivable consists of one loan issued to the buyer in connection with the sale of The Camby, Autograph Collection. Subsequent to year end, the loan to the buyer was repaid in full.