Marriott International (MAR) 10-Q 30 Jul 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Jul. 17, 2015
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Trading Symbol	MAR
Entity Registrant Name	MARRIOTT INTERNATIONAL INC /MD/
Entity Central Index Key	1,048,286
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		265,887,565

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
REVENUES
Base management fees	$ 191	$ 176	$ 356	$ 331
Franchise fees	221	194	425	357
Incentive management fees	81	82	170	153
Owned, leased, and other revenue	243	269	500	503
Cost reimbursements	2,953	2,763	5,751	5,433
Revenues	3,689	3,484	7,202	6,777
OPERATING COSTS AND EXPENSES
Owned, leased, and other - direct	183	199	377	384
Reimbursed costs	2,953	2,763	5,751	5,433
Depreciation, amortization, and other	32	47	76	83
General, administrative, and other	152	159	297	307
Costs and Expenses, Total	3,320	3,168	6,501	6,207
OPERATING INCOME	369	316	701	570
Gains and other income, net	20	3	20	3
Interest expense	(42)	(30)	(78)	(60)
Interest income	6	4	14	9
Equity in earnings (losses)	2	(8)	5	(6)
INCOME BEFORE INCOME TAXES	355	285	662	516
Provision for income taxes	(115)	(93)	(215)	(152)
NET INCOME	$ 240	$ 192	$ 447	$ 364
EARNINGS PER SHARE
Earnings per share - basic (in USD per share)	$ 0.88	$ 0.66	$ 1.63	$ 1.24
Earnings per share - diluted (in USD per share)	0.87	0.64	1.59	1.21
CASH DIVIDENDS DECLARED PER SHARE (in USD per share)	$ 0.25	$ 0.20	$ 0.45	$ 0.37

CONDENSED CONSOLIDATED STATEME3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Statement of Comprehensive Income [Abstract]
Net income	$ 240	$ 192	$ 447	$ 364
Other comprehensive (loss) income:
Foreign currency translation adjustments	7	0	(19)	0
Derivative instrument adjustments, net of tax	(2)	0	7	1
Unrealized (loss) gain on available-for-sale securities, net of tax	(1)	1	(2)	2
Reclassification of losses (gains), net of tax	(2)	1	(4)	2
Total other comprehensive (loss) income, net of tax	2	2	(18)	5
Comprehensive income	$ 242	$ 194	$ 429	$ 369

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Current assets
Cash and equivalents	$ 140	$ 104
Accounts and notes receivable, net	1,188	1,100
Current deferred taxes, net	309	311
Prepaid expenses	68	64
Other	56	109
Assets held for sale	145	233
Assets, Current, Total	1,906	1,921
Property and equipment, net	987	1,460
Intangible assets
Contract acquisition costs and other	1,452	1,351
Goodwill	962	894
Goodwill And Intangible Assets, Net, Total	2,414	2,245
Equity and cost method investments	216	224
Notes receivable, net	154	215
Deferred taxes, net	397	530
Other noncurrent assets	247	270
Total Assets	6,321	6,865
Current liabilities
Current portion of long-term debt	614	324
Accounts payable	640	605
Accrued payroll and benefits	806	799
Liability for guest loyalty programs	833	677
Accrued expenses and other	624	655
Liabilities, Current, Total	3,517	3,060
Long-term debt	3,303	3,457
Liability for guest loyalty programs	1,607	1,657
Other noncurrent liabilities	927	891
Shareholders’ deficit
Class A Common Stock	5	5
Additional paid-in-capital	2,781	2,802
Retained earnings	4,573	4,286
Treasury stock, at cost	(10,304)	(9,223)
Accumulated other comprehensive loss	(88)	(70)
Stockholders' Deficit Attributable to Parent	(3,033)	(2,200)
Liabilities and Deficit, Total	$ 6,321	$ 6,865

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
OPERATING ACTIVITIES
Net income	$ 447	$ 364
Adjustments to reconcile to cash provided by operating activities:
Depreciation, amortization, and other	76	83
Share-based compensation	55	54
Income taxes	99	57
Liability for guest loyalty programs	101	68
Working capital changes	(68)	(17)
Other	42	60
Net cash provided by operating activities	752	669
INVESTING ACTIVITIES
Capital expenditures	(159)	(156)
Dispositions	581	292
Loan advances	(12)	(103)
Loan collections	14	17
Equity and cost method investments	1	(5)
Contract acquisition costs	(72)	(28)
Acquisition of a business, net of cash acquired	(136)	(184)
Redemption of preferred equity investment	121	0
Other	14	(16)
Net cash provided by (used in) investing activities	352	(183)
FINANCING ACTIVITIES
Commercial paper/Credit Facility, net	136	250
Repayment of long-term debt	(4)	(3)
Issuance of Class A Common Stock	31	99
Dividends paid	(124)	(109)
Purchase of treasury stock	(1,107)	(657)
Net cash used in financing activities	(1,068)	(420)
INCREASE IN CASH AND EQUIVALENTS	36	66
CASH AND EQUIVALENTS, beginning of period	104	126
CASH AND EQUIVALENTS, end of period	$ 140	$ 192

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	BASIS OF PRESENTATION The condensed consolidated financial statements present the results of operations, financial position, and cash flows of Marriott International, Inc. (“Marriott,” and together with its subsidiaries, “we,” “our,” “us,” or the “Company”). In order to make this report easier to read, we refer throughout to (i) our Condensed Consolidated Financial Statements as our “Financial Statements,” (ii) our Condensed Consolidated Statements of Income as our “Income Statements,” (iii) our Condensed Consolidated Balance Sheets as our “Balance Sheets,” (iv) our properties, brands, or markets in the United States and Canada as “North America” or “North American,” and (v) our properties, brands, or markets outside of the United States and Canada as “International.” In addition, references throughout to numbered “Footnotes” refer to the numbered Notes in these Notes to Condensed Consolidated Financial Statements, unless otherwise noted. These Financial Statements have not been audited. We have condensed or omitted certain information and footnote disclosures normally included in financial statements presented in accordance with U.S. generally accepted accounting principles (“GAAP”). The financial statements in this report should be read in conjunction with the consolidated financial statements and notes thereto in our Annual Report on Form 10-K for the fiscal year ended December 31, 2014 (“ 2014 Form 10-K”). Certain terms not otherwise defined in this Form 10-Q have the meanings specified in our 2014 Form 10-K. Preparation of financial statements that conform to GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements, the reported amounts of revenues and expenses during the reporting periods, and the disclosures of contingent liabilities. Accordingly, ultimate results could differ from those estimates. The accompanying Financial Statements reflect all normal and recurring adjustments necessary to present fairly our financial position as of June 30, 2015 and December 31, 2014 , the results of our operations for the three and six months ended June 30, 2015 and June 30, 2014 , and cash flows for the six months ended June 30, 2015 , and June 30, 2014 . Interim results may not be indicative of fiscal year performance because of seasonal and short-term variations. We have eliminated all material intercompany transactions and balances between entities consolidated in these Financial Statements. New Accounting Standards Accounting Standards Update No. 2014-09 - “Revenue from Contracts with Customers” (“ASU No. 2014-09”) ASU No. 2014-09 supersedes the revenue recognition requirements in Topic 605, Revenue Recognition , as well as most industry-specific guidance, and significantly enhances comparability of revenue recognition practices across entities and industries by providing a principles-based, comprehensive framework for addressing revenue recognition issues. In order for a provider of promised goods or services to recognize as revenue the consideration that it expects to receive in exchange for the promised goods or services, the provider should apply the following five steps: (1) identify the contract with a customer(s); (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when (or as) the entity satisfies a performance obligation. ASU No. 2014-09 also specifies the accounting for some costs to obtain or fulfill a contract with a customer and provides enhanced disclosure requirements. The Financial Accounting Standards Board has deferred ASU No. 2014-09 for one year, and with that deferral, the standard will be effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period, which for us will be our 2018 first quarter. We are permitted to use either the retrospective or the modified retrospective method when adopting ASU No. 2014-09. We are still assessing the potential impact that ASU No. 2014-09 will have on our financial statements and disclosures.

Acquisitions and Dispositions

Acquisitions and Dispositions	6 Months Ended
	Jun. 30, 2015
Acquisitions and Dispositions [Abstract]
Acquisitions and Dispositions	ACQUISITIONS AND DISPOSITIONS Acquisitions In the 2015 second quarter , we acquired the Delta Hotels and Resorts brand, management and franchise business, together with related intellectual property, from Delta Hotels Limited Partnership, a subsidiary of British Columbia Investment Management Corporation (“bcIMC”) for approximately $134 million ( C$170 million ), plus $2 million ( C$2 million ) of working capital, for a total purchase price of $136 million ( C$172 million ) in cash. During our 2015 second quarter, we provisionally recognized approximately: $125 million ( C$158 million ) in intangible assets consisting of contract assets of $17 million ( C$22 million ), an indefinite-lived brand intangible of $91 million ( C$115 million ), and goodwill of $17 million (C $22 million ); and $11 million ( C$14 million ) of tangible assets consisting of property and equipment and other assets. Our provisional estimates of fair values are based on the information that was available as of the acquisition date, and we are continuing to evaluate the underlying inputs and assumptions used in our valuations. As a result of the transaction, we added 37 open hotels and resorts with 9,595 rooms across Canada, 27 of which are managed (including 13 under new 30-year management agreements with bcIMC-affiliated entities) and 10 of which are franchised, plus five hotels under development (including one under a new 30-year management agreement with a bcIMC-affiliated entity). In the 2014 second quarter, we acquired the Protea Hotel Group’s brands and hotel management business (“Protea Hotels”) for $195 million (ZAR 2.059 billion ) in cash. We finalized the purchase accounting during the 2015 second quarter , adjusting fair value amounts that we had provisionally recognized in the 2014 second quarter following refinements to our intangible valuation models. The 2015 second quarter adjustments include a decrease to our contract assets of $40 million and a decrease to our indefinite-lived brand intangible of $12 million , with a corresponding increase to goodwill. These adjustments, and the related contract asset amortization impacts, did not have a significant impact on our previously reported Financial Statements, and accordingly, we did not retrospectively adjust those Financial Statements. Dispositions and Planned Dispositions In the 2014 first quarter, we sold The London EDITION to a third party and simultaneously entered into definitive agreements to sell The Miami Beach and The New York (Madison Square Park) EDITION hotels upon completion of construction to the same third party. The total sales price for the three EDITION hotels was approximately $816 million in cash and assumed liabilities. We completed the sale of The Miami Beach EDITION during the 2015 first quarter, and sold The New York (Madison Square Park) EDITION at the beginning of our 2015 second quarter . The cash proceeds were $233 million in the 2014 first quarter, $230 million in the 2015 first quarter, and $343 million in the 2015 second quarter. In the 2015 first quarter, we recorded a $6 million impairment charge for The New York (Madison Square Park) EDITION, in the “Depreciation, amortization, and other” caption of our Income Statements as our cost estimates exceeded our total fixed sales price. We did not allocate the charge to any of our segments. In the 2015 first quarter, we sold our interest in an International property and received $27 million ( €24 million ) in cash. At the end of the 2015 second quarter , we held $145 million of assets classified as “Assets held for sale” and $15 million of liabilities associated with those assets recorded under “Accrued expenses and other” on our Balance Sheets for assets that we expect to sell by early 2016. We determined that the carrying values of those assets exceeded their fair values, which we estimated using a market approach and Level 3 inputs. Consequently, we recorded charges for the expected disposal loss, which represent the excess of the carrying values, including any goodwill we must allocate, over the fair values, less cost to sell. The assets and liabilities we classified as held for sale and associated charges relate to the following: • $60 million in assets and $6 million in liabilities for an International property. During the 2015 second quarter we recorded an $18 million expected loss in the “ Gains and other income, net ” caption of our Income Statements when we received a signed letter of intent for the sale of that property. • $47 million in assets and $1 million in liabilities for a North American Limited-Service segment plot of land. During the 2015 second quarter , we determined that achieving certain milestones outlined in a signed purchase and sale agreement was likely, and we recorded a $4 million expected loss in the “ Gains and other income, net ” caption of our Income Statements. • $38 million in assets and $8 million in liabilities for The Miami Beach EDITION residences (the “residences”). During the 2015 first quarter, we recorded a $6 million charge, which we did not allocate to any of our segments, following a review of comparable property values. We classified the residences charge in the “Depreciation, amortization, and other” caption of our Income Statements because it is part of a larger mixed-use project for which we had recorded similar charges in prior periods.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Earnings Per Share	EARNINGS PER SHARE The table below illustrates the reconciliation of the earnings and number of shares used in our calculations of basic and diluted earnings per share: Three Months Ended Six Months Ended (in millions, except per share amounts) June 30, 2015 June 30, 2014 June 30, 2015 June 30, 2014 Computation of Basic Earnings Per Share Net income $ 240 $ 192 $ 447 $ 364 Weighted average shares outstanding 272.4 292.5 275.1 294.3 Basic earnings per share $ 0.88 $ 0.66 $ 1.63 $ 1.24 Computation of Diluted Earnings Per Share Net income $ 240 $ 192 $ 447 $ 364 Weighted average shares outstanding 272.4 292.5 275.1 294.3 Effect of dilutive securities Employee stock option and appreciation right plans 2.3 3.0 2.4 3.2 Deferred stock incentive plans 0.6 0.7 0.6 0.8 Restricted stock units 2.0 2.5 2.5 2.9 Shares for diluted earnings per share 277.3 298.7 280.6 301.2 Diluted earnings per share $ 0.87 $ 0.64 $ 1.59 $ 1.21 We compute the effect of dilutive securities using the treasury stock method and average market prices during the period. We excluded antidilutive stock options and stock appreciation rights of 0.3 million for the 2015 second quarter and 0.2 million for the 2015 first half from our calculation of diluted earnings per share because their exercise prices were greater than the average market prices. We had no antidilutive stock options or stock appreciation rights for the 2014 second quarter and the 2014 first half .

Share-Based Compensation

Share-Based Compensation	6 Months Ended
	Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-Based Compensation	SHARE-BASED COMPENSATION Under our Stock and Cash Incentive Plan (the “Stock Plan”), we award: (1) stock options (our “Stock Option Program”) to purchase our Class A Common Stock (“common stock”); (2) stock appreciation rights (“SARs”) for our common stock (our “SAR Program”); (3) restricted stock units (“RSUs”) of our common stock; and (4) deferred stock units. We also issue performance-based RSUs (“PSUs”) to named executive officers and some of their direct reports under the Stock Plan. We grant awards at exercise prices or strike prices that equal the market price of our common stock on the date of grant. We recorded share-based compensation expense for award grants of $30 million for the 2015 second quarter and $29 million for the 2014 second quarter, $55 million for the 2015 first half , and $54 million for the 2014 first half . Deferred compensation costs for unvested awards totaled $175 million at June 30, 2015 and $114 million at December 31, 2014 . RSUs and PSUs We granted 1.3 million RSUs during the 2015 first half to certain officers and key employees, and those units vest generally over four years in equal annual installments commencing one year after the grant date. W e also granted 0.1 million PSUs during the 2015 first half to certain named executive officers and their direct reports, subject to the satisfaction of certain performance conditions based on achievement of pre-established targets for Adjusted EBITDA, RevPAR Index, room openings, and net administrative expense over, or at the end of, a three -year vesting period. RSUs, including PSUs, granted in the 2015 first half had a weighted average grant-date fair value of $79 . SARs We granted 0.3 million SARs to officers, key employees, and non-employee directors during the 2015 first half . These SARs generally expire ten years after the grant date and both vest and may be exercised in cumulative installments of one quarter at the end of each of the first four years following the grant date. The weighted average grant-date fair value of SARs granted in the 2015 first half was $26 and the weighted average exercise price was $83 . We used the following assumptions as part of a binomial lattice-based valuation to determine the fair value of the SARs we granted during the 2015 first half : Expected volatility 30 % Dividend yield 1.04 % Risk-free rate 1.9 - 2.3% Expected term (in years) 6 - 10 In making these assumptions, we base expected volatility on the historical movement of the Company’s stock price. We base risk-free rates on the corresponding U.S. Treasury spot rates for the expected duration at the date of grant, which we convert to a continuously compounded rate. The dividend yield assumption takes into consideration both historical levels and expectations of future dividend payout. The weighted average expected terms for SARs are an output of our valuation model which utilizes historical data in estimating the period of time that the SARs are expected to remain unexercised. We calculate the expected terms for SARs for separate groups of retirement eligible and non-retirement eligible employees and non-employee directors. Our valuation model also uses historical data to estimate exercise behaviors, which includes determining the likelihood that employees will exercise their SARs before expiration at a certain multiple of stock price to exercise price. In recent years, non-employee directors have generally exercised grants in their last year of exercisability. Other Information As of the end of the 2015 second quarter, we had 24 million remaining shares authorized under the Stock Plan, including 6 million shares under the Stock Option Program and the SAR Program.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES Our effective tax rate decreased from 32.6% to 32.4% for the three months ended June 30, 2015 primarily due to a lower effective tax rate on foreign pre-tax earnings and a deferred tax benefit due to changes in state income tax laws, partially offset by higher pre-tax earnings in the U.S., which are taxed at a higher rate. Our effective rate increased from 29.5% to 32.4% for the six months ended June 30, 2015 primarily due to a $21 million prior year resolution of an issue with the U.S. federal tax authorities for a guest marketing program that was favorable to the 2014 first quarter results, in addition to the 2015 second quarter items discussed above. For the 2015 second quarter , our unrecognized tax benefits balance of $10 million remained unchanged from both the 2015 first quarter and year-end 2014. The unrecognized tax benefits balance included $7 million of tax positions that, if recognized, would impact our effective tax rate. We file income tax returns, including returns for our subsidiaries, in various jurisdictions around the world. The Internal Revenue Service (“IRS”) has examined our federal income tax returns, and we have settled all issues for tax years through 2009. We participate in the IRS Compliance Assurance Program, which accelerates IRS examination of key transactions with the goal of resolving any issues before the taxpayer files its return. As a result, the audits of our open tax years 2010 through 2013 are complete, while the 2014 and 2015 tax year audits are currently ongoing. Various foreign, state, and local income tax returns are also under examination by the applicable taxing authorities. We believe it is reasonably possible that we will resolve two state apportionment issues during the next 12 months for which we have an unrecognized tax balance of $4 million . One issue is currently under audit, and the second issue is pending an expected court ruling in 2015. We paid cash for income taxes, net of refunds, of $90 million in the 2015 first half and $54 million in the 2014 first half.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES Guarantees We issue guarantees to certain lenders and hotel owners, chiefly to obtain long-term management contracts. The guarantees generally have a stated maximum funding amount and a term of four to ten years. The terms of guarantees to lenders generally require us to fund if cash flows from hotel operations are inadequate to cover annual debt service or to repay the loan at maturity. The terms of the guarantees to hotel owners generally require us to fund if the hotels do not attain specified levels of operating profit. Guarantee fundings to lenders and hotel owners are generally recoverable as loans repayable to us out of future hotel cash flows and/or proceeds from the sale of hotels. We also enter into project completion guarantees with certain lenders in conjunction with hotels that we or our joint venture partners are building. We present the maximum potential amount of our future guarantee fundings and the carrying amount of our liability for guarantees for which we are the primary obligor at June 30, 2015 in the following table: ($ in millions) Guarantee Type Maximum Potential Amount of Future Fundings Liability for Guarantees Debt service $ 54 $ 14 Operating profit 78 42 Other 13 1 Total guarantees where we are the primary obligor $ 145 $ 57 Our liability at June 30, 2015 , for guarantees for which we are the primary obligor is reflected in our Balance Sheets as $5 million of “Accrued expenses and other” and $52 million of “Other noncurrent liabilities.” Our guarantees listed in the preceding table include $18 million of debt service guarantees, $21 million of operating profit guarantees, and $1 million of other guarantees that will not be in effect until the underlying properties open and we begin to operate the properties or certain other events occur. The table above does not include a “contingent purchase obligation,” which is not currently in effect, that we entered into in the 2014 first quarter to provide credit support to lenders for a construction loan. We entered into that agreement in conjunction with signing a management agreement for The Times Square EDITION hotel in New York City (currently projected to open in 2017), and the hotel’s ownership group obtaining acquisition financing and entering into agreements concerning future construction financing for the mixed use project (which includes both the hotel and adjacent retail space). Under the agreement, we granted the lenders the right, upon an uncured event of default by the hotel owner under, and an acceleration of, the mortgage loan, to require us to purchase the hotel component of the property for $315 million during the first two years after opening. Because we would acquire the building upon exercise of the put option, we have not included the amount in the table above. The lenders may extend this period for up to three years to complete foreclosure if the loan has been accelerated and certain other conditions are met. We do not currently expect that the lenders will require us to purchase the hotel component. We have no ownership interest in this hotel. The preceding table also does not include the following guarantees: • $71 million of guarantees for Senior Living Services lease obligations of $53 million (expiring in 2019 ) and lifecare bonds of $18 million (estimated to expire in 2019 ), for which we are secondarily liable. Sunrise Senior Living, Inc. (“Sunrise”) is the primary obligor on both the leases and $3 million of the lifecare bonds; HCP, Inc., as successor by merger to CNL Retirement Properties, Inc. (“CNL”), is the primary obligor on $15 million of the lifecare bonds. Before we sold the Senior Living Services business in 2003 , these were our guarantees of obligations of our then consolidated Senior Living Services subsidiaries. Sunrise and CNL have indemnified us for any fundings we may be called upon to make under these guarantees. Our liability for these guarantees had a carrying value of $3 million at June 30, 2015 . In conjunction with our consent of the 2011 extension of certain lease obligations until 2018 , Sunrise provided us with $1 million of cash collateral and an $85 million letter of credit issued by Key Bank to secure our continued exposure under the lease guarantees during the extension term and certain other obligations of Sunrise. The letter of credit balance was $62 million at the end of the 2015 second quarter, which decreased as a result of lease payments made and lifecare bonds redeemed. During the extension term, Sunrise agreed to make an annual payment to us from the cash flow of the continuing lease facilities, subject to a $1 million annual minimum. In the 2013 first quarter, Sunrise merged with Health Care REIT, Inc. (“HCN”), and Sunrise’s management business was acquired by an entity formed by affiliates of Kohlberg Kravis Roberts & Co. LP, Beecken Petty O’Keefe & Co., Coastwood Senior Housing Partners LLC, and HCN. In April of 2014, HCN and Revera Inc., a private provider of senior living services, acquired Sunrise’s management business. • Lease obligations, for which we became secondarily liable when we acquired the Renaissance Hotel Group N.V. in 1997 , consisting of annual rent payments of approximately $5 million and total remaining rent payments through the initial term of approximately $22 million . The majority of these obligations expire by the end of 2020 . CTF Holdings Ltd. (“CTF”) had originally provided €35 million in cash collateral in the event that we are required to fund under such guarantees, approximately $3 million ( €2 million ) of which remained at June 30, 2015 . Our exposure for the remaining rent payments through the initial term will decline to the extent that CTF obtains releases from the landlords or these hotels exit the system. Since the time we assumed these guarantees, we have not funded any amounts, and we do not expect to fund any amounts under these guarantees in the future. • Certain guarantees and commitments relating to the timeshare business, which were outstanding at the time of the 2011 Timeshare spin-off and for which we became secondarily liable as part of the spin-off. These Marriott Vacations Worldwide Corporation (“MVW”) payment obligations, for which we currently have a total exposure of $10 million , relate to two guarantees. MVW has indemnified us for these obligations. We expect these obligations will expire as follows: $3 million in 2020, and $7 million ( 9 million Singapore Dollars) in 2022 . We have not funded any amounts under these obligations, and do not expect to do so in the future. Our liability for these obligations had a carrying value of $1 million at June 30, 2015 . • A guarantee for a lease, originally entered into in 2000, for which we became secondarily liable in 2012 as a result of our sale of the ExecuStay corporate housing business to Oakwood Worldwide (“Oakwood”). Oakwood has indemnified us for the obligations under this guarantee. Our total exposure at the end of the 2015 second quarter for this guarantee is $6 million in future rent payments through the end of the lease in 2019. Our liability for this guarantee had a carrying value of $1 million at June 30, 2015 . In addition to the guarantees described in the preceding paragraphs, in conjunction with financing obtained for specific projects or properties owned by joint ventures in which we are a party, we may provide industry standard indemnifications to the lender for loss, liability, or damage occurring as a result of the actions of the other joint venture owner or our own actions. Commitments In addition to the guarantees we note in the preceding paragraphs, as of June 30, 2015 , we had the following commitments outstanding, which are not recorded on our Balance Sheets: • A commitment to invest up to $8 million of equity for a non-controlling interest in a partnership that plans to purchase North American full-service and limited-service properties, or purchase or develop hotel-anchored mixed-use real estate projects. We expect to fund $2 million of this commitment in 2015. We do not expect to fund the remaining $6 million of this commitment, which expires in 2016. • A commitment to invest up to $22 million of equity for non-controlling interests in a partnership that plans to purchase or develop limited-service properties in Asia. We expect to fund this commitment as follows: $3 million in 2015 and $3 million in 2016. We do not expect to fund the remaining $16 million of this commitment prior to the end of the commitment period in 2016. • A commitment, with no expiration date, to invest up to $11 million in a joint venture for development of a new property. We expect to fund this commitment as follows: $8 million in 2015 and $3 million in 2016. • A commitment to invest $9 million ( R$27 million ) for the development of a property. We expect to fund the majority of this commitment in 2015. • We have a right and under certain circumstances an obligation to acquire our joint venture partner’s remaining interests in two joint ventures over the next six years at a price based on the performance of the ventures. In conjunction with this contingent obligation, we advanced $20 million ( €15 million ) in deposits, $12 million ( €11 million ) of which is remaining. The amounts on deposit are refundable to the extent we do not acquire our joint venture partner’s remaining interests. • Various commitments to purchase information technology hardware, software, accounting, finance, and maintenance services in the normal course of business totaling $171 million . We expect to purchase goods and services subject to these commitments as follows: $32 million in 2015 , $54 million in 2016 , $44 million in 2017 , and $41 million thereafter. • A $5 million loan commitment that we extended to the operating tenant of a property to cover the cost of renovation shortfalls. We expect to fund this commitment in 2015. • Several commitments aggregating $30 million with no expiration date and which we do not expect to fund. Letters of Credit At June 30, 2015 , we had $86 million of letters of credit outstanding (all outside the Credit Facility, as defined in Footnote No. 7 , “ Long-Term Debt ,” below), the majority of which were for our self-insurance programs. Surety bonds issued as of June 30, 2015 , totaled $153 million , the majority of which federal, state and local governments requested in connection with our self-insurance programs. Legal Proceedings On January 19, 2010, several former Marriott employees (the “plaintiffs”) filed a putative class action complaint against us and the Stock Plan (the “defendants”), alleging that certain equity awards of deferred bonus stock granted to the plaintiffs and other current and former employees for fiscal years 1963 through 1989 are subject to vesting requirements under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), that are in certain circumstances more rapid than those set forth in the awards. The action was brought in the United States District Court for the District of Maryland (Greenbelt Division), and Dennis Walter Bond Sr. and Michael P. Steigman were the remaining named plaintiffs. Class certification was denied, and on January 16, 2015, the court granted Marriott’s motion for summary judgment and dismissed the case. Plaintiffs have filed a notice of appeal with the U.S. Court of Appeals for the Fourth Circuit, and we have cross-appealed on statute of limitations grounds. In March 2012, the Korea Fair Trade Commission (“KFTC”) obtained documents from two of our managed hotels in Seoul, Korea in connection with an investigation which we believe is focused on pricing of hotel services within the Seoul region. Since then, the KFTC has conducted additional fact-gathering at those two hotels and also has collected information from another Marriott managed hotel located in Seoul. We understand that the KFTC also has sought documents from numerous other hotels in Seoul and other parts of Korea that we do not operate, own, or franchise. We have not yet received a complaint or other legal process. We are cooperating with this investigation.

Long-Term Debt

Long-Term Debt	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Long-Term Debt	LONG-TERM DEBT We provide detail on our long-term debt balances in the following table as of the end of the 2015 second quarter and year-end 2014 : At Period End ($ in millions) June 30, December 31, Senior Notes: Series G, interest rate of 5.8%, face amount of $316, maturing November 10, 2015 (effective interest rate of 6.8%) $ 315 $ 314 Series H, interest rate of 6.2%, face amount of $289, maturing June 15, 2016 (effective interest rate of 6.3%) 289 289 Series I, interest rate of 6.4%, face amount of $293, maturing June 15, 2017 (effective interest rate of 6.5%) 293 293 Series K, interest rate of 3.0%, face amount of $600, maturing March 1, 2019 (effective interest rate of 4.4%) 597 596 Series L, interest rate of 3.3%, face amount of $350, maturing September 15, 2022 (effective interest rate of 3.4%) 349 349 Series M, interest rate of 3.4%, face amount of $350, maturing October 15, 2020 (effective interest rate of 3.6%) 348 348 Series N, interest rate of 3.1%, face amount of $400, maturing October 15, 2021 (effective interest rate of 3.4%) 398 397 Commercial paper, average interest rate of 0.5% at June 30, 2015 1,211 1,072 $2,000 Credit Facility — — Other 117 123 3,917 3,781 Less current portion classified in: Current portion of long-term debt (614 ) (324 ) $ 3,303 $ 3,457 All of our long-term debt is recourse to us but unsecured. We paid cash for interest, net of amounts capitalized, of $54 million in the 2015 first half and $41 million in the 2014 first half . We are a party to a multicurrency revolving credit agreement (the “Credit Facility”) that provides for $2,000 million of aggregate borrowings to support general corporate needs, including working capital, capital expenditures, share repurchases, and letters of credit. The availability of the Credit Facility also supports our commercial paper program. Borrowings under the Credit Facility generally bear interest at LIBOR (the London Interbank Offered Rate) plus a spread, based on our public debt rating. We also pay quarterly fees on the Credit Facility at a rate based on our public debt rating. While any outstanding commercial paper borrowings and/or borrowings under our Credit Facility generally have short-term maturities, we classify the outstanding borrowings as long-term based on our ability and intent to refinance the outstanding borrowings on a long-term basis. The Credit Facility expires on July 18, 2018. See the “Cash Requirements and Our Credit Facilities” caption later in this report in the “Liquidity and Capital Resources” section for information on our available borrowing capacity at June 30, 2015 . The following table presents future principal payments that are due for our debt as of the end of the 2015 second quarter: Debt Principal Payments ($ in millions) Amount 2015 $ 321 2016 298 2017 301 2018 1,220 2019 607 Thereafter 1,170 Balance at June 30, 2015 $ 3,917

Property and Equipment

Property and Equipment	6 Months Ended
	Jun. 30, 2015
Property, Plant and Equipment [Abstract]
Property and Equipment	PROPERTY AND EQUIPMENT The following table presents the composition of our property and equipment balances at the end of the 2015 second quarter and year-end 2014 : At Period End ($ in millions) June 30, December 31, Land $ 301 $ 457 Buildings and leasehold improvements 677 781 Furniture and equipment 806 775 Construction in progress 112 365 1,896 2,378 Accumulated depreciation (909 ) (918 ) $ 987 $ 1,460 See Footnote No. 2 , “ Acquisitions and Dispositions ” for information on charges we recorded in the 2015 first half in both the “Depreciation, amortization, and other” and “ Gains and other income, net ” captions of our Income Statements.

Notes Receivable

Notes Receivable	6 Months Ended
	Jun. 30, 2015
Receivables [Abstract]
Notes Receivable	NOTES RECEIVABLE The following table presents the composition of our notes receivable balances (net of reserves and unamortized discounts) at the end of the 2015 second quarter and year-end 2014 : At Period End ($ in millions) June 30, December 31, Senior, mezzanine, and other loans $ 241 $ 242 Less current portion (87 ) (27 ) $ 154 $ 215 We do not have any past due notes receivable amounts at the end of the 2015 second quarter. The unamortized discounts for our notes receivable were $25 million at the end of the 2015 second quarter and $25 million at year-end 2014 . The following table presents the expected future principal payments (net of reserves and unamortized discounts) as well as interest rates for our notes receivable as of the end of the 2015 second quarter: Notes Receivable Principal Payments (net of reserves and unamortized discounts) and Interest Rates ($ in millions) Amount 2015 $ 13 2016 75 2017 3 2018 4 2019 2 Thereafter 144 Balance at June 30, 2015 $ 241 Weighted average interest rate at June 30, 2015 6.4 % Range of stated interest rates at June 30, 2015 0 - 10.0% At the end of the 2015 second quarter, our recorded investment in impaired senior, mezzanine, and other loans was $71 million . We had a $55 million allowance for credit losses, leaving $16 million of exposure to our investment in impaired loans. At year-end 2014 , our recorded investment in impaired senior, mezzanine, and other loans was $63 million , and we had a $50 million allowance for credit losses, leaving $13 million of exposure to our investment in impaired loans. The activity in our notes receivable reserve during the 2015 first half consisted of an increase to fully reserve for interest on an impaired note receivable. Our average investment in impaired notes receivable totaled $69 million for the 2015 second quarter ; $67 million for the 2015 first half , $105 million for the 2014 second quarter and $104 million for the 2014 first half .

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	FAIR VALUE OF FINANCIAL INSTRUMENTS We believe that the fair values of our current assets and current liabilities approximate their reported carrying amounts. We present the carrying values and the fair values of noncurrent financial assets and liabilities that qualify as financial instruments, determined under current guidance for disclosures on the fair value of financial instruments, in the following table: June 30, 2015 December 31, 2014 ($ in millions) Carrying Amount Fair Value Carrying Amount Fair Value Senior, mezzanine, and other loans $ 154 $ 153 $ 215 $ 214 Marketable securities 42 41 44 44 Total noncurrent financial assets $ 196 $ 194 $ 259 $ 258 Senior Notes $ (1,985 ) $ (2,047 ) $ (2,272 ) $ (2,370 ) Commercial paper (1,211 ) (1,211 ) (1,072 ) (1,072 ) Other long-term debt (103 ) (114 ) (108 ) (122 ) Other noncurrent liabilities (57 ) (57 ) (57 ) (57 ) Total noncurrent financial liabilities $ (3,356 ) $ (3,429 ) $ (3,509 ) $ (3,621 ) We estimate the fair value of our senior, mezzanine, and other loans, including the current portion, by discounting cash flows using risk-adjusted rates, both of which are Level 3 inputs. We carry our marketable securities at fair value. Our marketable securities include debt securities of the U.S. Government, its sponsored agencies and other U.S. corporations invested for our self-insurance programs, as well as shares of a publicly traded company, which we value using directly observable Level 1 inputs. The carrying value of these marketable securities was $42 million at the end of the 2015 second quarter. In the 2015 second quarter , the sale of an entity that owns three hotels that we manage triggered the mandatory redemption feature of our preferred equity ownership interest in that entity. We received $121 million in cash and realized a gain of $41 million for the redemption, which we recorded in the “ Gains and other income, net ” caption of our Income Statements. We had accounted for this investment as a debt security and classified it as a current asset as of year-end 2014. At the date of redemption, it had an amortized cost of $80 million , including accrued interest. We continue to manage the three hotels under long term agreements. We estimate the fair value of our other long-term debt, including the current portion and excluding leases, using expected future payments discounted at risk-adjusted rates, which are Level 3 inputs. We determine the fair value of our senior notes using quoted market prices, which are directly observable Level 1 inputs. As noted in Footnote No. 7 , “ Long-Term Debt ,” even though our commercial paper borrowings generally have short-term maturities of 30 days or less, we classify outstanding commercial paper borrowings as long-term based on our ability and intent to refinance them on a long-term basis. As we are a frequent issuer of commercial paper, we use pricing from recent transactions as Level 2 inputs in estimating fair value. At the end of the 2015 second quarter and year-end 2014 , we determined that the carrying value of our commercial paper approximated its fair value due to the short maturity. Our other long-term liabilities largely consist of guarantees. We measure our liability for guarantees at fair value on a nonrecurring basis, that is when we issue or modify a guarantee, using Level 3 internally developed inputs. At the end of the 2015 second quarter and year-end 2014 , we determined that the carrying values of our guarantee liabilities approximated their fair values based on Level 3 inputs. See the “Fair Value Measurements” caption of Footnote No. 2, “Summary of Significant Accounting Policies” of our 2014 Form 10-K for more information on the input levels we use in determining fair value.

Other Comprehensive (Loss) Inco

Other Comprehensive (Loss) Income and Shareholders' (Deficit) Equity	6 Months Ended
	Jun. 30, 2015
Equity [Abstract]
Other Comprehensive (Loss) Income and Shareholders' (Deficit) Equity	OTHER COMPREHENSIVE (LOSS) INCOME AND SHAREHOLDERS' (DEFICIT) EQUITY The following table details the accumulated other comprehensive (loss) income activity for the 2015 first half : ($ in millions) Foreign Currency Translation Adjustments Derivative Instrument Adjustments Unrealized Gains on Available-For-Sale Securities Accumulated Other Comprehensive Loss Balance at year-end 2014 $ (72 ) $ (9 ) $ 11 $ (70 ) Other comprehensive (loss) income before reclassifications (1) (19 ) 7 (2 ) (14 ) Reclassification of losses (gains) from accumulated other comprehensive loss 3 (7 ) — (4 ) Net other comprehensive (loss) income (16 ) — (2 ) (18 ) Balance at June 30, 2015 $ (88 ) $ (9 ) $ 9 $ (88 ) (1) Other comprehensive (loss) income before reclassifications for foreign currency translation adjustments includes a gain of $36 million on intra-entity foreign currency transactions that are of a long-term investment nature. The following table details the effect on net income of significant amounts reclassified out of accumulated other comprehensive (loss) income for the 2015 second quarter and 2015 first half : ($ in millions) Reclassification of Gains (Losses) from Accumulated Other Comprehensive Loss Three Months Ended Six Months Ended Accumulated Other Comprehensive Loss Components June 30, 2015 June 30, 2015 Income Statement Line Item Affected Foreign Currency Translation Adjustments Property disposition $ — $ (3 ) Gains and other income, net — (3 ) Income before income taxes — — Provision for income taxes $ — $ (3 ) Net income Derivative Instrument Adjustments Cash flow hedges $ 3 $ 6 Base management and franchise fees Net investment hedge - property disposition — 3 Gains and other income, net Interest rate contracts (2 ) (3 ) Interest expense 1 6 Income before income taxes 1 1 Provision for income taxes $ 2 $ 7 Net income The following table details the changes in common shares outstanding and shareholders’ deficit for the 2015 first half : (in millions, except per share amounts) Common Shares Outstanding Total Class A Common Stock Additional Paid-in- Capital Retained Earnings Treasury Stock, at Cost Accumulated Other Comprehensive Loss 279.9 Balance at year-end 2014 $ (2,200 ) $ 5 $ 2,802 $ 4,286 $ (9,223 ) $ (70 ) — Net income 447 — — 447 — — — Other comprehensive income (18 ) — — — — (18 ) — Cash dividends ($0.45 per share) (124 ) — — (124 ) — — 2.0 Employee stock plan issuance 7 — (21 ) (36 ) 64 — (14.6 ) Purchase of treasury stock (1,145 ) — — — (1,145 ) — 267.3 Balance at June 30, 2015 $ (3,033 ) $ 5 $ 2,781 $ 4,573 $ (10,304 ) $ (88 )

Business Segments

Business Segments	6 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Business Segments	BUSINESS SEGMENTS We are a diversified global lodging company with operations in the following three reportable business segments: • North American Full-Service , which includes The Ritz-Carlton, EDITION, JW Marriott, Autograph Collection Hotels, Renaissance Hotels, Marriott Hotels, Delta Hotels and Resorts, and Gaylord Hotels located in the United States and Canada; • North American Limited-Service , which includes AC Hotels by Marriott, Courtyard, Residence Inn, SpringHill Suites, Fairfield Inn & Suites, and TownePlace Suites properties located in the United States and Canada; • International , which includes The Ritz-Carlton, Bulgari Hotels & Resorts, EDITION, JW Marriott, Autograph Collection Hotels, Renaissance Hotels, Marriott Hotels, Marriott Executive Apartments, AC Hotels by Marriott, Courtyard, Residence Inn, Fairfield Inn & Suites, Protea Hotels, and Moxy Hotels located outside the United States and Canada. Our North American Full-Service and North American Limited-Service segments meet the applicable accounting criteria to be reportable business segments. The following four operating segments do not meet the criteria for separate disclosure as reportable business segments: Asia Pacific, Caribbean and Latin America, Europe, and Middle East and Africa, and accordingly, we combined these four operating segments into an “all other category” which we refer to as “International.” We evaluate the performance of our operating segments using “segment profits” which is based largely on the results of the segment without allocating corporate expenses, income taxes, or indirect general, administrative, and other expenses. We allocate gains and losses, equity in earnings or losses from our joint ventures, and direct general, administrative, and other expenses to each of our segments. The caption “Other unallocated corporate” in the subsequent discussion represents a portion of our revenues, general, administrative, and other expenses, equity in earnings or losses, and other gains or losses that we do not allocate to our segments. It also includes license fees we receive from our credit card programs and license fees from MVW. Our chief operating decision maker monitors assets for the consolidated company but does not use assets by operating segment when assessing performance or making operating segment resource allocations. Segment Revenues Three Months Ended Six Months Ended ($ in millions) June 30, 2015 June 30, 2014 June 30, 2015 June 30, 2014 North American Full-Service Segment $ 2,252 $ 2,099 $ 4,427 $ 4,148 North American Limited-Service Segment 821 750 1,559 1,417 International 549 568 1,091 1,088 Total segment revenues 3,622 3,417 7,077 6,653 Other unallocated corporate 67 67 125 124 Total consolidated revenues $ 3,689 $ 3,484 $ 7,202 $ 6,777 Segment Profits Three Months Ended Six Months Ended ($ in millions) June 30, 2015 June 30, 2014 June 30, 2015 June 30, 2014 North American Full-Service Segment $ 152 $ 154 $ 298 $ 285 North American Limited-Service Segment 179 151 330 266 International 57 74 134 139 Total segment profits 388 379 762 690 Other unallocated corporate 3 (68 ) (36 ) (123 ) Interest expense, net of interest income (36 ) (26 ) (64 ) (51 ) Income taxes (115 ) (93 ) (215 ) (152 ) Net Income $ 240 $ 192 $ 447 $ 364 The following table details the carrying amount of our goodwill at the end of the 2015 second quarter and year-end 2014 : Goodwill ($ in millions) North American Full-Service Segment North American Limited-Service Segment International Total Goodwill Year-end 2014 balance: Goodwill $ 392 $ 125 $ 431 $ 948 Accumulated impairment losses — (54 ) — (54 ) 392 71 431 894 Additions $ 17 $ — $ — $ 17 Adjustments — — 51 51 June 30, 2015 balance: Goodwill $ 409 $ 125 $ 482 $ 1,016 Accumulated impairment losses — (54 ) — (54 ) $ 409 $ 71 $ 482 $ 962 See Footnote No. 2 , “ Acquisitions and Dispositions ” for information on goodwill additions and adjustments we recorded in the 2015 second quarter.

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
New Accounting Standards	New Accounting Standards Accounting Standards Update No. 2014-09 - “Revenue from Contracts with Customers” (“ASU No. 2014-09”) ASU No. 2014-09 supersedes the revenue recognition requirements in Topic 605, Revenue Recognition , as well as most industry-specific guidance, and significantly enhances comparability of revenue recognition practices across entities and industries by providing a principles-based, comprehensive framework for addressing revenue recognition issues. In order for a provider of promised goods or services to recognize as revenue the consideration that it expects to receive in exchange for the promised goods or services, the provider should apply the following five steps: (1) identify the contract with a customer(s); (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when (or as) the entity satisfies a performance obligation. ASU No. 2014-09 also specifies the accounting for some costs to obtain or fulfill a contract with a customer and provides enhanced disclosure requirements. The Financial Accounting Standards Board has deferred ASU No. 2014-09 for one year, and with that deferral, the standard will be effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period, which for us will be our 2018 first quarter. We are permitted to use either the retrospective or the modified retrospective method when adopting ASU No. 2014-09. We are still assessing the potential impact that ASU No. 2014-09 will have on our financial statements and disclosures.
Earnings Per Share Dilutive Securities	We compute the effect of dilutive securities using the treasury stock method and average market prices during the period.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Reconciliation of the Earnings (Losses) and Number of Shares Used in Calculations of Basic and Diluted Earnings Per Share	The table below illustrates the reconciliation of the earnings and number of shares used in our calculations of basic and diluted earnings per share: Three Months Ended Six Months Ended (in millions, except per share amounts) June 30, 2015 June 30, 2014 June 30, 2015 June 30, 2014 Computation of Basic Earnings Per Share Net income $ 240 $ 192 $ 447 $ 364 Weighted average shares outstanding 272.4 292.5 275.1 294.3 Basic earnings per share $ 0.88 $ 0.66 $ 1.63 $ 1.24 Computation of Diluted Earnings Per Share Net income $ 240 $ 192 $ 447 $ 364 Weighted average shares outstanding 272.4 292.5 275.1 294.3 Effect of dilutive securities Employee stock option and appreciation right plans 2.3 3.0 2.4 3.2 Deferred stock incentive plans 0.6 0.7 0.6 0.8 Restricted stock units 2.0 2.5 2.5 2.9 Shares for diluted earnings per share 277.3 298.7 280.6 301.2 Diluted earnings per share $ 0.87 $ 0.64 $ 1.59 $ 1.21

Share-Based Compensation (Table

Share-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Assumptions for Stock Options and SARs	We used the following assumptions as part of a binomial lattice-based valuation to determine the fair value of the SARs we granted during the 2015 first half : Expected volatility 30 % Dividend yield 1.04 % Risk-free rate 1.9 - 2.3% Expected term (in years) 6 - 10

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Maximum Potential Amount of Future Fundings as the Primary Obligor for Guarantees and the Liability for Expected Future Fundings	We present the maximum potential amount of our future guarantee fundings and the carrying amount of our liability for guarantees for which we are the primary obligor at June 30, 2015 in the following table: ($ in millions) Guarantee Type Maximum Potential Amount of Future Fundings Liability for Guarantees Debt service $ 54 $ 14 Operating profit 78 42 Other 13 1 Total guarantees where we are the primary obligor $ 145 $ 57

Long-Term Debt (Tables)

Long-Term Debt (Tables)	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Long-Term Debt	We provide detail on our long-term debt balances in the following table as of the end of the 2015 second quarter and year-end 2014 : At Period End ($ in millions) June 30, December 31, Senior Notes: Series G, interest rate of 5.8%, face amount of $316, maturing November 10, 2015 (effective interest rate of 6.8%) $ 315 $ 314 Series H, interest rate of 6.2%, face amount of $289, maturing June 15, 2016 (effective interest rate of 6.3%) 289 289 Series I, interest rate of 6.4%, face amount of $293, maturing June 15, 2017 (effective interest rate of 6.5%) 293 293 Series K, interest rate of 3.0%, face amount of $600, maturing March 1, 2019 (effective interest rate of 4.4%) 597 596 Series L, interest rate of 3.3%, face amount of $350, maturing September 15, 2022 (effective interest rate of 3.4%) 349 349 Series M, interest rate of 3.4%, face amount of $350, maturing October 15, 2020 (effective interest rate of 3.6%) 348 348 Series N, interest rate of 3.1%, face amount of $400, maturing October 15, 2021 (effective interest rate of 3.4%) 398 397 Commercial paper, average interest rate of 0.5% at June 30, 2015 1,211 1,072 $2,000 Credit Facility — — Other 117 123 3,917 3,781 Less current portion classified in: Current portion of long-term debt (614 ) (324 ) $ 3,303 $ 3,457
Debt Principal Payments (Net of Unamortized Discounts)	The following table presents future principal payments that are due for our debt as of the end of the 2015 second quarter: Debt Principal Payments ($ in millions) Amount 2015 $ 321 2016 298 2017 301 2018 1,220 2019 607 Thereafter 1,170 Balance at June 30, 2015 $ 3,917

Property and Equipment (Tables)

Property and Equipment (Tables)	6 Months Ended
	Jun. 30, 2015
Property, Plant and Equipment [Abstract]
Composition of our Property and Equipment Balances	The following table presents the composition of our property and equipment balances at the end of the 2015 second quarter and year-end 2014 : At Period End ($ in millions) June 30, December 31, Land $ 301 $ 457 Buildings and leasehold improvements 677 781 Furniture and equipment 806 775 Construction in progress 112 365 1,896 2,378 Accumulated depreciation (909 ) (918 ) $ 987 $ 1,460

Notes Receivable (Tables)

Notes Receivable (Tables)	6 Months Ended
	Jun. 30, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes Receivable Principal Payments (Net of Reserves and Unamortized Discounts) and Interest Rates	The following table presents the expected future principal payments (net of reserves and unamortized discounts) as well as interest rates for our notes receivable as of the end of the 2015 second quarter: Notes Receivable Principal Payments (net of reserves and unamortized discounts) and Interest Rates ($ in millions) Amount 2015 $ 13 2016 75 2017 3 2018 4 2019 2 Thereafter 144 Balance at June 30, 2015 $ 241 Weighted average interest rate at June 30, 2015 6.4 % Range of stated interest rates at June 30, 2015 0 - 10.0%
Notes Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Composition of our Notes Receivable Balances (Net of Reserves and Unamortized Discounts)	The following table presents the composition of our notes receivable balances (net of reserves and unamortized discounts) at the end of the 2015 second quarter and year-end 2014 : At Period End ($ in millions) June 30, December 31, Senior, mezzanine, and other loans $ 241 $ 242 Less current portion (87 ) (27 ) $ 154 $ 215

Fair Value of Financial Instr25

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Carrying Values and Fair Values of Non-Current Financial Assets and Liabilities	We present the carrying values and the fair values of noncurrent financial assets and liabilities that qualify as financial instruments, determined under current guidance for disclosures on the fair value of financial instruments, in the following table: June 30, 2015 December 31, 2014 ($ in millions) Carrying Amount Fair Value Carrying Amount Fair Value Senior, mezzanine, and other loans $ 154 $ 153 $ 215 $ 214 Marketable securities 42 41 44 44 Total noncurrent financial assets $ 196 $ 194 $ 259 $ 258 Senior Notes $ (1,985 ) $ (2,047 ) $ (2,272 ) $ (2,370 ) Commercial paper (1,211 ) (1,211 ) (1,072 ) (1,072 ) Other long-term debt (103 ) (114 ) (108 ) (122 ) Other noncurrent liabilities (57 ) (57 ) (57 ) (57 ) Total noncurrent financial liabilities $ (3,356 ) $ (3,429 ) $ (3,509 ) $ (3,621 )

Other Comprehensive (Loss) In26

Other Comprehensive (Loss) Income and Shareholders' (Deficit) Equity (Tables)	6 Months Ended
	Jun. 30, 2015
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss) Activity	The following table details the accumulated other comprehensive (loss) income activity for the 2015 first half : ($ in millions) Foreign Currency Translation Adjustments Derivative Instrument Adjustments Unrealized Gains on Available-For-Sale Securities Accumulated Other Comprehensive Loss Balance at year-end 2014 $ (72 ) $ (9 ) $ 11 $ (70 ) Other comprehensive (loss) income before reclassifications (1) (19 ) 7 (2 ) (14 ) Reclassification of losses (gains) from accumulated other comprehensive loss 3 (7 ) — (4 ) Net other comprehensive (loss) income (16 ) — (2 ) (18 ) Balance at June 30, 2015 $ (88 ) $ (9 ) $ 9 $ (88 ) (1) Other comprehensive (loss) income before reclassifications for foreign currency translation adjustments includes a gain of $36 million on intra-entity foreign currency transactions that are of a long-term investment nature.
Amounts Reclassified out of Accumulated Other Comprehensive (Loss) Income	The following table details the effect on net income of significant amounts reclassified out of accumulated other comprehensive (loss) income for the 2015 second quarter and 2015 first half : ($ in millions) Reclassification of Gains (Losses) from Accumulated Other Comprehensive Loss Three Months Ended Six Months Ended Accumulated Other Comprehensive Loss Components June 30, 2015 June 30, 2015 Income Statement Line Item Affected Foreign Currency Translation Adjustments Property disposition $ — $ (3 ) Gains and other income, net — (3 ) Income before income taxes — — Provision for income taxes $ — $ (3 ) Net income Derivative Instrument Adjustments Cash flow hedges $ 3 $ 6 Base management and franchise fees Net investment hedge - property disposition — 3 Gains and other income, net Interest rate contracts (2 ) (3 ) Interest expense 1 6 Income before income taxes 1 1 Provision for income taxes $ 2 $ 7 Net income
Changes in Shareholders' Deficit	The following table details the changes in common shares outstanding and shareholders’ deficit for the 2015 first half : (in millions, except per share amounts) Common Shares Outstanding Total Class A Common Stock Additional Paid-in- Capital Retained Earnings Treasury Stock, at Cost Accumulated Other Comprehensive Loss 279.9 Balance at year-end 2014 $ (2,200 ) $ 5 $ 2,802 $ 4,286 $ (9,223 ) $ (70 ) — Net income 447 — — 447 — — — Other comprehensive income (18 ) — — — — (18 ) — Cash dividends ($0.45 per share) (124 ) — — (124 ) — — 2.0 Employee stock plan issuance 7 — (21 ) (36 ) 64 — (14.6 ) Purchase of treasury stock (1,145 ) — — — (1,145 ) — 267.3 Balance at June 30, 2015 $ (3,033 ) $ 5 $ 2,781 $ 4,573 $ (10,304 ) $ (88 )

Business Segments (Tables)

Business Segments (Tables)	6 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Segment Revenues	Segment Revenues Three Months Ended Six Months Ended ($ in millions) June 30, 2015 June 30, 2014 June 30, 2015 June 30, 2014 North American Full-Service Segment $ 2,252 $ 2,099 $ 4,427 $ 4,148 North American Limited-Service Segment 821 750 1,559 1,417 International 549 568 1,091 1,088 Total segment revenues 3,622 3,417 7,077 6,653 Other unallocated corporate 67 67 125 124 Total consolidated revenues $ 3,689 $ 3,484 $ 7,202 $ 6,777
Segment Profits	Segment Profits Three Months Ended Six Months Ended ($ in millions) June 30, 2015 June 30, 2014 June 30, 2015 June 30, 2014 North American Full-Service Segment $ 152 $ 154 $ 298 $ 285 North American Limited-Service Segment 179 151 330 266 International 57 74 134 139 Total segment profits 388 379 762 690 Other unallocated corporate 3 (68 ) (36 ) (123 ) Interest expense, net of interest income (36 ) (26 ) (64 ) (51 ) Income taxes (115 ) (93 ) (215 ) (152 ) Net Income $ 240 $ 192 $ 447 $ 364
Segment Goodwill	The following table details the carrying amount of our goodwill at the end of the 2015 second quarter and year-end 2014 : Goodwill ($ in millions) North American Full-Service Segment North American Limited-Service Segment International Total Goodwill Year-end 2014 balance: Goodwill $ 392 $ 125 $ 431 $ 948 Accumulated impairment losses — (54 ) — (54 ) 392 71 431 894 Additions $ 17 $ — $ — $ 17 Adjustments — — 51 51 June 30, 2015 balance: Goodwill $ 409 $ 125 $ 482 $ 1,016 Accumulated impairment losses — (54 ) — (54 ) $ 409 $ 71 $ 482 $ 962

Acquisitions and Dispositions -

Acquisitions and Dispositions - Acquisitions (Detail) ZAR in Millions, CAD in Millions, $ in Millions	3 Months Ended
	Jun. 30, 2015CADhotelhotel_and_resortroom	Jun. 30, 2015USD ($)hotelhotel_and_resortroom	Jun. 30, 2014USD ($)	Jun. 30, 2014ZAR	Jun. 30, 2015USD ($)	Dec. 31, 2014USD ($)
Business Acquisition [Line Items]
Goodwill | $					$ 962	$ 894
Delta Hotels and Resorts
Business Acquisition [Line Items]
Cash paid for acquisition	CAD 170	$ 134
Working capital acquired	2	2
Purchase price of acquisition	172	136
Intangible assets including goodwill	158				125
Deferred contract acquisition costs	22	$ 17
Brand intangible	115				91
Goodwill	22				17
Tangible assets consisting of property and equipment and other current assets	CAD 14				$ 11
Number of open hotels and resorts acquired	37	37
Number of rooms acquired | room	9,595	9,595
Number of managed hotels and resorts acquired	27	27
Number of managed hotels and resorts acquired, 30 year management agreement	13	13
Number of franchised hotels and resorts acquired	10	10
Number of hotels and resorts under development acquired	5	5
Number of hotels and resorts under development acquired, 30 year management agreement | hotel	1	1
Protea Hospitality Holdings
Business Acquisition [Line Items]
Cash paid for acquisition			$ 195	ZAR 2,059
Increase of goodwill | $		$ 52
Brand | Protea Hospitality Holdings
Business Acquisition [Line Items]
Decrease of intangibles-lived brand | $		12
Contract Assets | Protea Hospitality Holdings
Business Acquisition [Line Items]
Decrease of intangibles-lived brand | $		$ 40

Acquisitions and Dispositions29

Acquisitions and Dispositions - Dispositions and Planned Dispositions (Details) € in Millions, $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2015USD ($)	Mar. 31, 2015USD ($)	Mar. 31, 2015EUR (€)	Mar. 31, 2014USD ($)hotel	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Dec. 31, 2014USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Dispositions					$ 581	$ 292
Current assets of dispositions	$ 145				145		$ 233
Assets held for sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Current assets of dispositions	145				145
Accrued expenses and other
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Current liabilities of dispositions	15				15
International
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of interest in a limited service property		$ 27	€ 24
Current assets of dispositions	60				60
Current liabilities of dispositions	6				6
Gain and other income, net | International
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment of long-lived assets	18
Gain and other income, net | North American Limited-Service Segment
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment of long-lived assets	4
EDITION Hotels
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of hotels | hotel				3
Dispositions				$ 816
London EDITION Hotel
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of property				$ 233
Miami Beach EDITION Hotel
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of property		230
Assets, sold	38				38
Liabilities, sold	8				8
Miami Beach EDITION Hotel | Depreciation, amortization and other | Other unallocated corporate
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment of long-lived assets	6
New York City EDITION Hotel
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of property	343
New York City EDITION Hotel | Depreciation, amortization and other | Other unallocated corporate
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment of long-lived assets		$ 6
North American, plot of land | North American Limited-Service Segment
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Current assets of dispositions	47				47
Current liabilities of dispositions	$ 1				$ 1

Earnings Per Share - Reconcilia

Earnings Per Share - Reconciliation of the Earnings (Losses) and Number of Shares Used in Calculations of Basic and Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Computation of Basic Earnings Per Share
Net income	$ 240	$ 192	$ 447	$ 364
Weighted average shares outstanding	272.4	292.5	275.1	294.3
Basic earnings per share (in USD per share)	$ 0.88	$ 0.66	$ 1.63	$ 1.24
Computation of Diluted Earnings Per Share
Net income	$ 240	$ 192	$ 447	$ 364
Weighted average shares outstanding	272.4	292.5	275.1	294.3
Effect of dilutive securities
Shares for diluted earnings per share	277.3	298.7	280.6	301.2
Diluted earnings per share (in USD per share)	$ 0.87	$ 0.64	$ 1.59	$ 1.21
Employee stock option and appreciation right plans
Effect of dilutive securities
Effect of dilutive securities	2.3	3	2.4	3.2
Deferred stock incentive plans
Effect of dilutive securities
Effect of dilutive securities	0.6	0.7	0.6	0.8
Restricted stock units
Effect of dilutive securities
Effect of dilutive securities	2	2.5	2.5	2.9

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Employee stock option and appreciation right plans
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Securities not included in the calculation of diluted earnings per share (in shares)	300,000	0	200,000	0

Share-Based Compensation - Addi

Share-Based Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 30	$ 29	$ 55	$ 54
Deferred compensation costs related to unvested awards	$ 175		$ 175		$ 114
Remaining shares authorized	24		24
RSUs and Performance-based RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock awards, weighted average grant-date fair value (in USD per share)			$ 79
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock awards, granted to certain officers, key employees and, for SARS, directors (in shares)			1.3
Stock awards, vesting period			4 years
Stock awards, period of service after grant date			1 year
Stock awards, percentage of award vesting and becoming exercisable annually			25.00%
Performance-based RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock awards, granted to certain officers, key employees and, for SARS, directors (in shares)			0.1
Stock awards, vesting period			3 years
Stock Appreciation Rights
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock awards, granted to certain officers, key employees and, for SARS, directors (in shares)			0.3
Stock awards, percentage of award vesting and becoming exercisable annually			25.00%
Stock awards, weighted average grant-date fair value (in USD per share)			$ 26
Stock awards, weighted average exercise price (in USD per share)			$ 83
Employee stock option and the SAR Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock awards, vesting period			4 years
Stock awards, expiration			10 years
Remaining shares authorized	6		6

Share Based Compensation - Assu

Share Based Compensation - Assumptions for SARs Granted (Detail) - 6 months ended Jun. 30, 2015 - Stock Appreciation Rights	Total
Share based Compensation Arrangement by Share based Payment Award, Fair Value Assumptions, Method Used [Line Items]
Expected volatility	30.00%
Dividend yield	1.04%
Risk-free rate, minimum	1.90%
Risk-free rate, maximum	2.30%
Minimum
Share based Compensation Arrangement by Share based Payment Award, Fair Value Assumptions, Method Used [Line Items]
Expected term (in years)	6 years
Maximum
Share based Compensation Arrangement by Share based Payment Award, Fair Value Assumptions, Method Used [Line Items]
Expected term (in years)	10 years

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015USD ($)apportionment_issue	Jun. 30, 2014	Jun. 30, 2015USD ($)apportionment_issue	Jun. 30, 2014USD ($)	Dec. 31, 2014USD ($)
Income Tax Disclosure [Abstract]
Effective income tax rate	32.40%	32.60%	32.40%	29.50%
Income Taxes [Line Items]
Unrecognized tax benefits	$ 10		$ 10		$ 10
Unrecognized tax benefits that, if recognized, would impact the effective tax rate	$ 7		$ 7
State apportionment issues expected to be resolve during the next 12 months | apportionment_issue	2		2
Net cash payments (receipts) for income tax (refunds)			$ 90	$ 54
US Federal Tax Issue
Income Taxes [Line Items]
Change in unrecognized tax benefits, amount of unrecorded benefit	$ 21		21
State Apportionment Issues
Income Taxes [Line Items]
Change in unrecognized tax benefits, amount of unrecorded benefit	$ 4		$ 4

Commitments and Contingencies -

Commitments and Contingencies - Guarantees (Details) € in Millions, SGD in Millions, $ in Millions	6 Months Ended
	Jun. 30, 2015SGDguarantee	Jun. 30, 2015USD ($)guarantee	Jun. 30, 2015EUR (€)guarantee	Dec. 30, 2011USD ($)	Sep. 09, 2005EUR (€)
Commitments and Contingencies Disclosure [Line Items]
Funding guarantees, minimum term	4 years
Funding guarantees, maximum term	10 years
Lease Obligations and Debt Securities Payable
Commitments and Contingencies Disclosure [Line Items]
Guarantee obligations, carrying value		$ 3
Property Lease Guarantee | ExecuStay
Commitments and Contingencies Disclosure [Line Items]
Guarantee obligations, carrying value		1
Primary Obligor
Commitments and Contingencies Disclosure [Line Items]
Maximum potential amount of future fundings		145
Liability for guarantees		57
Primary Obligor | Debt service
Commitments and Contingencies Disclosure [Line Items]
Maximum potential amount of future fundings		54
Liability for guarantees		14
Primary Obligor | Operating profit
Commitments and Contingencies Disclosure [Line Items]
Maximum potential amount of future fundings		78
Liability for guarantees		42
Primary Obligor | Other guarantees
Commitments and Contingencies Disclosure [Line Items]
Maximum potential amount of future fundings		13
Liability for guarantees		1
Primary Obligor | Not Yet In Effect Condition | Debt service
Commitments and Contingencies Disclosure [Line Items]
Maximum potential amount of future fundings		18
Primary Obligor | Not Yet In Effect Condition | Operating profit
Commitments and Contingencies Disclosure [Line Items]
Maximum potential amount of future fundings		21
Primary Obligor | Not Yet In Effect Condition | Other guarantees
Commitments and Contingencies Disclosure [Line Items]
Maximum potential amount of future fundings		1
Secondarily Liable
Commitments and Contingencies Disclosure [Line Items]
Maximum potential amount of future fundings		71
Secondarily Liable | MVW Spin-off
Commitments and Contingencies Disclosure [Line Items]
Maximum potential amount of future fundings		$ 10
Guarantor obligations, number of guarantees | guarantee	2	2	2
Guarantee obligations, carrying value		$ 1
Secondarily Liable | MVW Spin-off | Expiration in 2020
Commitments and Contingencies Disclosure [Line Items]
Maximum potential amount of future fundings		3
Secondarily Liable | MVW Spin-off | Expiration in 2022
Commitments and Contingencies Disclosure [Line Items]
Maximum potential amount of future fundings	SGD 9	7
Secondarily Liable | Property Lease Guarantee | Sunrise Senior Living Inc
Commitments and Contingencies Disclosure [Line Items]
Maximum potential amount of future fundings		53
Guarantee obligations, cash collateralized				$ 1
Collateral for continuing lease obligation contingency, future minimum annual payments due from 2014 until 2018				1
Secondarily Liable | Property Lease Guarantee | Sunrise Senior Living Inc | Key Bank | Letter of Credit
Commitments and Contingencies Disclosure [Line Items]
Letter of credit provided by Sunrise, amount available				$ 85
Letter of credit provided by Sunrise, amount available at period end		62
Secondarily Liable | Property Lease Guarantee | Renaissance Hotel Group N.V.
Commitments and Contingencies Disclosure [Line Items]
Guarantee obligations, cash collateralized		3	€ 2		€ 35
Annual rent payments, approximately		5
Remaining rent payments, approximately		22
Secondarily Liable | Debt Securities Payable
Commitments and Contingencies Disclosure [Line Items]
Maximum potential amount of future fundings		18
Secondarily Liable | Debt Securities Payable | Sunrise Senior Living Inc
Commitments and Contingencies Disclosure [Line Items]
Maximum potential amount of future fundings		3
Secondarily Liable | Debt Securities Payable | CNL Retirement Properties Inc
Commitments and Contingencies Disclosure [Line Items]
Maximum potential amount of future fundings		15
Secondarily Liable | Lease is Terminated by End of 2019 | Property Lease Guarantee | ExecuStay
Commitments and Contingencies Disclosure [Line Items]
Maximum potential amount of future fundings		6
New York City EDITION Hotel | Primary Obligor | Debt service
Commitments and Contingencies Disclosure [Line Items]
Maximum potential amount of future fundings		315
New York City EDITION Hotel | Primary Obligor | Other guarantees
Commitments and Contingencies Disclosure [Line Items]
Guarantor obligations, term	2 years
Guarantor obligations, extended term	3 years
Other Current Liabilities | Primary Obligor
Commitments and Contingencies Disclosure [Line Items]
Liability for guarantees		5
Other Noncurrent Liabilities | Primary Obligor
Commitments and Contingencies Disclosure [Line Items]
Liability for guarantees		$ 52

Commitments and Contingencies36

Commitments and Contingencies - Commitments (Detail) - Jun. 30, 2015 € in Millions, BRL in Millions, $ in Millions	BRLEntity	USD ($)Entity	EUR (€)Entity
Real Estate Investment
Commitments and Contingencies Disclosure [Line Items]
Commitment to Joint Venture for development of new property, in 2015		$ 8
Commitment to Joint Venture for development of new property, in 2016		3
Real Estate Investment | Upper Limit
Commitments and Contingencies Disclosure [Line Items]
Investment commitments expected to be funded in 2015		11
Development of Dual Branded Property
Commitments and Contingencies Disclosure [Line Items]
Investment commitments	BRL 27	$ 9
Investment in Other Joint Venture Commitment
Commitments and Contingencies Disclosure [Line Items]
Acquisition interests in joint ventures | Entity	2	2	2
Contingent acquisition period	6 years
Deposits in conjunction with contingent obligation to acquire the interest in joint ventures		$ 20	€ 15
Deposits in conjunction with contingent obligation to acquire the interest in joint ventures, remaining amount		12	€ 11
Information Technology Hardware, Software, Accounting, Finance, and Maintenance Services
Commitments and Contingencies Disclosure [Line Items]
Purchase commitments		171
Purchase commitments expected to be funded in 2015		32
Purchase commitments expected to be funded in 2016		54
Purchase commitments expected to be funded in 2017		44
Purchase commitments expected to be funded thereafter		41
Commitments
Commitments and Contingencies Disclosure [Line Items]
Investment commitments not expected to be funded		30
Lodging Property
Commitments and Contingencies Disclosure [Line Items]
Loan commitment, amount		5
Full Service and Limited Service | Equity Investment for Non Controlling Interest in Partnership Commitment
Commitments and Contingencies Disclosure [Line Items]
Investment commitments expected to be funded in 2015		2
Investment commitments not expected to be funded		6
Full Service and Limited Service | Equity Investment for Non Controlling Interest in Partnership Commitment | Upper Limit
Commitments and Contingencies Disclosure [Line Items]
Investment commitments		8
Limited Service | Equity Investment for Non Controlling Interest in Partnership Commitment
Commitments and Contingencies Disclosure [Line Items]
Investment commitments expected to be funded in 2015		3
Investment commitments not expected to be funded		16
Investment commitments expected to be funded in 2016		3
Limited Service | Equity Investment for Non Controlling Interest in Partnership Commitment | Upper Limit
Commitments and Contingencies Disclosure [Line Items]
Investment commitments		$ 22

Commitments and Contingencies37

Commitments and Contingencies - Letters of Credit (Details) $ in Millions	Jun. 30, 2015USD ($)
Commitments and Contingencies Disclosure [Line Items]
Surety bonds issued	$ 153
Outside Effective Credit Facility
Commitments and Contingencies Disclosure [Line Items]
Letters of credit outstanding	$ 86

Commitments and Contingencies38

Commitments and Contingencies - Legal Proceedings (Details)	Mar. 31, 2012hotel
Pricing Investigation by Korea Fair Trade Commission
Loss Contingencies [Line Items]
Number of hotels included in pricing investigation, managed by Company	2

Long-Term Debt (Detail)

Long-Term Debt (Detail) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
$2,000 Credit Facility	$ 0	$ 0
Other	117,000,000	123,000,000
Long-term debt	3,917,000,000	3,781,000,000
Current portion of long-term debt	(614,000,000)	(324,000,000)
Long-term debt, noncurrent	3,303,000,000	3,457,000,000
Multicurrency revolving credit agreement, aggregate effective borrowings	2,000,000,000	2,000,000,000
Series G, Senior Notes 5.8% Due November 10, 2015
Debt Instrument [Line Items]
Senior Notes	$ 315,000,000	$ 314,000,000
Debt instrument, stated interest rate	5.80%	5.80%
Senior Notes, face amount	$ 316,000,000	$ 316,000,000
Senior Notes, effective interest rate	6.80%	6.80%
Series H, Senior Notes 6.2% Due June 15, 2016
Debt Instrument [Line Items]
Senior Notes	$ 289,000,000	$ 289,000,000
Debt instrument, stated interest rate	6.20%	6.20%
Senior Notes, face amount	$ 289,000,000	$ 289,000,000
Senior Notes, effective interest rate	6.30%	6.30%
Series I, Senior Notes 6.4% Due June 15, 2017
Debt Instrument [Line Items]
Senior Notes	$ 293,000,000	$ 293,000,000
Debt instrument, stated interest rate	6.40%	6.40%
Senior Notes, face amount	$ 293,000,000	$ 293,000,000
Senior Notes, effective interest rate	6.50%	6.50%
Series K, Senior Notes 3.0% Due March 1, 2019
Debt Instrument [Line Items]
Senior Notes	$ 597,000,000	$ 596,000,000
Debt instrument, stated interest rate	3.00%	3.00%
Senior Notes, face amount	$ 600,000,000	$ 600,000,000
Senior Notes, effective interest rate	4.40%	4.40%
Series L, Senior Notes 3.3% Due September 15, 2022
Debt Instrument [Line Items]
Senior Notes	$ 349,000,000	$ 349,000,000
Debt instrument, stated interest rate	3.30%	3.30%
Senior Notes, face amount	$ 350,000,000	$ 350,000,000
Senior Notes, effective interest rate	3.40%	3.40%
Series M, Senior Notes 3.4% Due October 15, 2020
Debt Instrument [Line Items]
Senior Notes	$ 348,000,000	$ 348,000,000
Debt instrument, stated interest rate	3.40%	3.40%
Senior Notes, face amount	$ 350,000,000	$ 350,000,000
Senior Notes, effective interest rate	3.60%	3.60%
Series N, Senior Notes 3.1% Due October 15, 2021
Debt Instrument [Line Items]
Senior Notes	$ 398,000,000	$ 397,000,000
Debt instrument, stated interest rate	3.10%	3.10%
Senior Notes, face amount	$ 400,000,000	$ 400,000,000
Senior Notes, effective interest rate	3.40%	3.40%
Commercial Paper
Debt Instrument [Line Items]
Commercial paper, average interest rate of 0.5% at June 30, 2015	$ 1,211,000,000	$ 1,072,000,000
Long-term debt, average interest rate	0.50%

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Detail) - USD ($)	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Debt Disclosure [Abstract]
Cash paid for interest, net of amounts capitalized	$ 54,000,000	$ 41,000,000
Multicurrency revolving credit agreement, aggregate effective borrowings	$ 2,000,000,000		$ 2,000,000,000

Long-Term Debt - Debt Principal

Long-Term Debt - Debt Principal Payments (Net of Unamortized Discounts) (Detail) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Debt Disclosure [Abstract]
2,015	$ 321
2,016	298
2,017	301
2,018	1,220
2,019	607
Thereafter	1,170
Long-term debt	$ 3,917	$ 3,781

Property and Equipment (Details

Property and Equipment (Details) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 1,896	$ 2,378
Accumulated depreciation	(909)	(918)
Property and equipment, net	987	1,460
Land
Property, Plant and Equipment [Line Items]
Property and equipment, gross	301	457
Buildings and leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	677	781
Furniture and equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	806	775
Construction in progress
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 112	$ 365

Notes Receivable - Composition

Notes Receivable - Composition of our Notes Receivable Balances (Net of Reserves and Unamortized Discounts) (Detail) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Receivables [Abstract]
Senior, mezzanine, and other loans	$ 241	$ 242
Less current portion	(87)	(27)
Notes receivable, noncurrent	$ 154	$ 215

Notes Receivable - Principal Pa

Notes Receivable - Principal Payments (Net of Reserves and Unamortized Discounts) and Interest Rates (Detail) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Receivables [Abstract]
2,015	$ 13
2,016	75
2,017	3
2,018	4
2,019	2
Thereafter	144
Senior, mezzanine, and other loans	$ 241	$ 242
Weighted average interest rate at June 30, 2015	6.40%
Range of stated interest rates at June 30, 2015, minimum	0.00%
Range of stated interest rates at June 30, 2015. maximum	10.00%

Notes Receivable - Additional I

Notes Receivable - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Receivables [Abstract]
Notes receivable, past due	$ 0		$ 0
Notes receivable, unamortized discounts, balance	25,000,000		25,000,000		$ 25,000,000
Investment in impaired notes receivables	71,000,000		71,000,000		63,000,000
Notes receivable reserve representing an allowance for credit losses	55,000,000		55,000,000		50,000,000
Investment in impaired loans with no related allowance for credit losses	16,000,000		16,000,000		$ 13,000,000
Average investment in notes receivables	$ 69,000,000	$ 105,000,000	$ 67,000,000	$ 104,000,000

Fair Value of Financial Instr46

Fair Value of Financial Instruments - Carrying Values and Fair Values of Non-Current Financial Assets and Liabilities (Detail) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior, mezzanine, and other loans	$ 154	$ 215
Other noncurrent liabilities	(927)	(891)
Carrying Amount
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior, mezzanine, and other loans	154	215
Marketable securities	42	44
Total noncurrent financial assets	196	259
Senior Notes	(1,985)	(2,272)
Commercial paper	(1,211)	(1,072)
Other long-term debt	(103)	(108)
Other noncurrent liabilities	(57)	(57)
Total noncurrent financial liabilities	(3,356)	(3,509)
Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior, mezzanine, and other loans	153	214
Marketable securities	41	44
Total noncurrent financial assets	194	258
Senior Notes	(2,047)	(2,370)
Commercial paper	(1,211)	(1,072)
Other long-term debt	(114)	(122)
Other noncurrent liabilities	(57)	(57)
Total noncurrent financial liabilities	$ (3,429)	$ (3,621)

Fair Value of Financial Instr47

Fair Value of Financial Instruments - Additional Information (Detail) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2015USD ($)hotel	Jun. 30, 2015USD ($)hotel	Jun. 30, 2014USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Proceeds from redemption of ownership		$ 121	$ 0
Commercial Paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Commercial paper, maturity term (generally 30 days or less)		30 days
Mandatorily Redeemable Preferred Equity Ownership Interest | Debt Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Number of hotels | hotel	3	3
Proceeds from redemption of ownership	$ 121
Amortized cost basis	80	$ 80
Mandatorily Redeemable Preferred Equity Ownership Interest | Debt Securities | Gain and other income, net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Realized gain (loss) of held-to-maturity securities	41
Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying value of our marketable securities	$ 42	$ 42

Other Comprehensive (Loss) In48

Other Comprehensive (Loss) Income and Shareholders' (Deficit) Equity - Accumulated Other Comprehensive Income Activity (Detail) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at year-end 2014				$ (70)
Reclassification of losses (gains) from accumulated other comprehensive loss		$ (2)	$ 1	(4)	$ 2
Balance at June 30, 2015		(88)		(88)
Other comprehensive income (loss) before reclassification related to foreign current translation adjustment, gain on intra-equity foreign currency transaction				36
Foreign Currency Translation Adjustments
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at year-end 2014				(72)
Other comprehensive (loss) income before reclassifications	[1]			(19)
Reclassification of losses (gains) from accumulated other comprehensive loss				3
Net other comprehensive (loss) income				(16)
Balance at June 30, 2015		(88)		(88)
Derivative Instrument Adjustments
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at year-end 2014				(9)
Other comprehensive (loss) income before reclassifications				7
Reclassification of losses (gains) from accumulated other comprehensive loss				(7)
Net other comprehensive (loss) income				0
Balance at June 30, 2015		(9)		(9)
Unrealized Gains on Available-For-Sale Securities
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at year-end 2014				11
Other comprehensive (loss) income before reclassifications				(2)
Reclassification of losses (gains) from accumulated other comprehensive loss				0
Net other comprehensive (loss) income				(2)
Balance at June 30, 2015		9		9
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at year-end 2014				(70)
Other comprehensive (loss) income before reclassifications				(14)
Reclassification of losses (gains) from accumulated other comprehensive loss				(4)
Net other comprehensive (loss) income				(18)
Balance at June 30, 2015		$ (88)		$ (88)
[1]	Other comprehensive (loss) income before reclassifications for foreign currency translation adjustments includes a gain of $36 million on intra-entity foreign currency transactions that are of a long-term investment nature.

Other Comprehensive (Loss) In49

Other Comprehensive (Loss) Income and Shareholders' (Deficit) Equity - Amounts Reclassified out of Accumulated Other Comprehensive (Loss) Income (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Gains and other income, net	$ 20	$ 3	$ 20	$ 3
Interest expense	(42)	(30)	(78)	(60)
Income before income taxes	355	285	662	516
Provision for income taxes	(115)	(93)	(215)	(152)
NET INCOME	240	$ 192	447	$ 364
Foreign Currency Translation Adjustments | Reclassification of Gains (Losses) from Accumulated Other Comprehensive Loss
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Income before income taxes	0		(3)
Provision for income taxes	0		0
NET INCOME	0		(3)
Derivative Instrument Adjustments | Reclassification of Gains (Losses) from Accumulated Other Comprehensive Loss
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Income before income taxes	1		6
Provision for income taxes	1		1
NET INCOME	2		7
Interest rate contracts | Derivative Instrument Adjustments | Reclassification of Gains (Losses) from Accumulated Other Comprehensive Loss
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Interest expense	(2)		(3)
Cash flow hedges | Derivative Instrument Adjustments | Reclassification of Gains (Losses) from Accumulated Other Comprehensive Loss
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Base management and franchise fees	3		6
Net investment hedging | Foreign Currency Translation Adjustments | Reclassification of Gains (Losses) from Accumulated Other Comprehensive Loss
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Gains and other income, net	0		(3)
Net investment hedging | Derivative Instrument Adjustments | Reclassification of Gains (Losses) from Accumulated Other Comprehensive Loss
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Gains and other income, net	$ 0		$ 3

Other Comprehensive (Loss) In50

Other Comprehensive (Loss) Income and Shareholders' (Deficit) Equity - Changes in Shareholders' Deficit (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
(Increase) Decrease in Shareholders' Deficit [Roll Forward]
Balance at year-end 2014			$ (2,200)
Balance at year-end 2014, shares			279.9
Net income	$ 240	$ 192	$ 447	$ 364
Other comprehensive income	2	$ 2	(18)	$ 5
Cash dividends ($0.45 per share)			(124)
Employee stock plan issuance			$ 7
Employee stock plan issuance, shares			2
Purchase of treasury stock			$ (1,145)
Purchase of treasury stock, shares			(14.6)
Balance at June 30, 2015	$ (3,033)		$ (3,033)
Balance at June 30, 2015, shares	267.3		267.3
Cash dividends, per share (in USD per share)			$ 0.45
Additional Paid-in- Capital
(Increase) Decrease in Shareholders' Deficit [Roll Forward]
Balance at year-end 2014			$ 2,802
Employee stock plan issuance			(21)
Balance at June 30, 2015	$ 2,781		2,781
Retained Earnings
(Increase) Decrease in Shareholders' Deficit [Roll Forward]
Balance at year-end 2014			4,286
Net income			447
Cash dividends ($0.45 per share)			(124)
Employee stock plan issuance			(36)
Purchase of treasury stock			0
Balance at June 30, 2015	4,573		4,573
Treasury Stock, at Cost
(Increase) Decrease in Shareholders' Deficit [Roll Forward]
Balance at year-end 2014			(9,223)
Employee stock plan issuance			64
Purchase of treasury stock			(1,145)
Balance at June 30, 2015	(10,304)		(10,304)
Accumulated Other Comprehensive Loss
(Increase) Decrease in Shareholders' Deficit [Roll Forward]
Balance at year-end 2014			(70)
Other comprehensive income			(18)
Balance at June 30, 2015	(88)		(88)
Class A Common Stock
(Increase) Decrease in Shareholders' Deficit [Roll Forward]
Balance at year-end 2014			5
Balance at June 30, 2015	$ 5		$ 5

Business Segments - Additional

Business Segments - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2015segment
Segment Reporting [Abstract]
Number of reportable business segments	3
Number of operating segments related to reorganization	4

Business Segments - Segment Rev

Business Segments - Segment Revenues (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	$ 3,689	$ 3,484	$ 7,202	$ 6,777
Total segment
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	3,622	3,417	7,077	6,653
Other unallocated corporate
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	67	67	125	124
North American Full-Service Segment | Total segment
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	2,252	2,099	4,427	4,148
North American Limited-Service Segment | Total segment
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	821	750	1,559	1,417
International | Total segment
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	$ 549	$ 568	$ 1,091	$ 1,088

Business Segments - Segment Pro

Business Segments - Segment Profits (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Operating Income (Loss)	$ 369	$ 316	$ 701	$ 570
Interest expense, net of interest income	(36)	(26)	(64)	(51)
Income taxes	(115)	(93)	(215)	(152)
Net income	240	192	447	364
Total segment
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Operating Income (Loss)	388	379	762	690
Other unallocated corporate
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Operating Income (Loss)	3	(68)	(36)	(123)
North American Full-Service Segment | Total segment
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Operating Income (Loss)	152	154	298	285
North American Limited-Service Segment | Total segment
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Operating Income (Loss)	179	151	330	266
International | Total segment
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Operating Income (Loss)	$ 57	$ 74	$ 134	$ 139

Business Segments - Goodwill (D

Business Segments - Goodwill (Detail) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Segment Reporting Information [Line Items]
Goodwill, gross	$ 1,016	$ 948
Accumulated impairment losses	(54)	(54)
Goodwill	962	894
Additions	17
Adjustments	51
North American Full-Service Segment | Total segment
Segment Reporting Information [Line Items]
Goodwill, gross	409	392
Accumulated impairment losses	0	0
Goodwill	409	392
Additions	17
Adjustments	0
North American Limited-Service Segment | Total segment
Segment Reporting Information [Line Items]
Goodwill, gross	125	125
Accumulated impairment losses	(54)	(54)
Goodwill	71	71
Additions	0
Adjustments	0
International | Total segment
Segment Reporting Information [Line Items]
Goodwill, gross	482	431
Accumulated impairment losses	0	0
Goodwill	482	$ 431
Additions	0
Adjustments	$ 51