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Debt, Schedule of Debt Covenants (Details) (USD $)
In Millions, unless otherwise specified
9 Months Ended
Sep. 30, 2014
Line Of Credit Facility Covenant [Member]
 
Line of Credit Facility [Line Items]  
Maximum Leverage Ratio (as a percent) 0.60 [1]
Minimum fixed charge coverage ratio 1.50 [2]
Minimum tangible net worth $ 1,857 [3]
Secured recourse indebtedness ratio 45.00%
Line Of Credit Facility Covenant Actual Results [Member]
 
Line of Credit Facility [Line Items]  
Maximum Leverage Ratio (as a percent) 0.395 [1]
Minimum fixed charge coverage ratio 2.7 [2]
Minimum tangible net worth $ 2,371 [3]
Secured recourse indebtedness ratio 39.50%
[1] Leverage ratio is total indebtedness, as defined in the credit agreement, divided by total asset value, defined in the credit agreement as a) total cash and cash equivalents and b) the value of our owned hotels based on hotel net operating income divided by a defined capitalization rate
[2] Fixed charge coverage ratio is Adjusted EBITDA, defined in the credit agreement as EBITDA less FF&E reserves, for the most recently ending 12 months, to fixed charges, which is defined in the credit agreement as interest expense, all regularly scheduled principal payments and payments on capitalized lease obligations, for the same most recently ending 12-month period.
[3] Tangible net worth, as defined in the credit agreement, is (i) total gross book value of all assets, exclusive of depreciation and amortization, less intangible assets, total indebtedness, and all other liabilities, plus (ii) 75% of net proceeds from future equity issuances.