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Geographic and Business Segment Information (Tables)

6 Months Ended

Jun. 30, 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 June 30,												Year-to-date ended June 30,												June 30, 2025						December 31, 2024
			2025						2024						2025						2024
United States			$	1,557					$	1,437					$	3,133					$	2,889					$	10,733					$	10,852
Brazil			7						5						14						11						30						27
Canada			22						24						33						37						32						27
Total			$	1,586					$	1,466					$	3,180					$	2,937					$	10,795					$	10,906

Summary of Segment Reporting Information, by Segment

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

						Quarter ended June 30, 2025												Quarter ended June 30, 2024
						Hotel Ownership						Total						Hotel Ownership						Total
Revenues
Rooms						$	949					$	949					$	885					$	885
Food and beverage						478						478						447						447
Other						159						159						134						134
Total revenues						1,586						1,586						1,466						1,466
Expenses
Rooms						233						233						214						214
Food and beverage						313						313						286						286
Other departmental and support expenses						375						375						343						343
Management fees						70						70						69						69
Other property-level expenses						107						107						101						101
Other segment items (1)						(9)						(9)						(30)						(30)
Segment EBITDA						497						497						483						483
Adjustments and reconciling items:
Depreciation and amortization												(195)												(188)
Corporate and other expenses												(25)												(29)
Net gain on property insurance settlements												—												26
Interest income												7												14
Interest expense												(58)												(50)
Other gains												22												—
Equity in earnings of affiliates												4												2
Provision for income taxes												(27)												(16)
Consolidated Net Income												$	225											$	242

_____________

(1)Other segment items consist of gain on business interruption proceeds. This amount, combined with net gain on property insurance settlements, make up the amount of net gain on insurance settlements on our consolidated statements of operations.

						Year-to-date ended June 30, 2025												Year-to-date ended June 30, 2024
						Hotel Ownership						Total						Hotel Ownership						Total
Revenues
Rooms						$	1,887					$	1,887					$	1,738					$	1,738
Food and beverage						981						981						920						920
Other						312						312						279						279
Total revenues						3,180						3,180						2,937						2,937
Expenses
Rooms						458						458						416						416
Food and beverage						636						636						581						581
Other departmental and support expenses						739						739						677						677
Management fees						139						139						138						138
Other property-level expenses						218						218						205						205
Other segment items (1)						(19)						(19)						(40)						(40)
Segment EBITDA						1,009						1,009						960						960
Adjustments and reconciling items:
Depreciation and amortization												(391)												(368)
Corporate and other expenses												(56)												(56)
Net gain on property insurance settlements												—												47
Interest income												15												32
Interest expense												(115)												(97)
Other gains												26												—
Equity in earnings of affiliates												14												10
Provision for income taxes												(26)												(14)
Consolidated Net Income												$	476											$	514
Capital Expenditures						$	298					$	298					$	224					$	224

_____________

(1)Other segment items consist of gain on business interruption proceeds. This amount, combined with net gain on property insurance settlements, make up the amount of net gain on insurance settlements on our 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
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-41

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- Definition

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
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
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-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

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