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Geographic and Business Segment Information (Tables)

3 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

Summary of Revenues and Long-Lived Assets by Geographical Area

The following table presents total revenues and property and equipment, net, for each of the geographical areas in which we operate (in millions):

			Total Revenues												Property and Equipment, net
			Quarter ended March 31,												March 31, 2025						December 31, 2024
			2025						2024
United States			$	1,576					$	1,452					$	10,804					$	10,852
Brazil			7						6						29						27
Canada			11						13						29						27
Total			$	1,594					$	1,471					$	10,862					$	10,906

Schedule of Segment Reporting Information, by Segment

The following table presents revenues, significant expenses, and EBITDA for our reportable segment (in millions):

						Quarter ended March 31, 2025												Quarter ended March 31, 2024
						Hotel Ownership						Total						Hotel Ownership						Total
Revenues
Rooms						$	938					$	938					$	853					$	853
Food and beverage						503						503						473						473
Other						153						153						145						145
Total revenues						1,594						1,594						1,471						1,471
Expenses
Rooms						225						225						202						202
Food and beverage						323						323						295						295
Other departmental and support expenses						364						364						334						334
Management fees						69						69						69						69
Other property-level expenses						111						111						104						104
Other segment items (1)						(10)						(10)						(10)						(10)
Segment EBITDA						512						512						477						477
Adjustments and reconciling items:
Depreciation and amortization												(196)												(180)
Corporate and other expenses												(31)												(27)
Net gain on property insurance settlements												—												21
Interest income												8												18
Interest expense												(57)												(47)
Other gains												4												—
Equity in earnings of affiliates												10												8
Benefit for income taxes												1												2
Consolidated Net Income												$	251											$	272
Capital Expenditures						$	146					$	146					$	103					$	103

_____________

(1)Other segment items consist of gain on business interruption proceeds for the first quarters of 2025 and 2024. This amount, combined with net gain on property insurance settlements, make up the amount of net gain on insurance settlements on our unaudited condensed consolidated statements of operations.

X

- Definition

Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(1))
-Publisher FASB
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Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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