Marriott International (MAR) 10-K 15 Feb 22 2021 FY Annual report Financial data

Cover Page

Cover Page - USD ($)	12 Months Ended
	Dec. 31, 2021	Feb. 08, 2022	Jun. 30, 2021
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2021
Document Transition Report	false
Entity File Number	1-13881
Entity Registrant Name	MARRIOTT INTERNATIONAL INC /MD/
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	52-2055918
Entity Address, Address Line One	10400 Fernwood Road
Entity Address, City or Town	Bethesda
Entity Address, State or Province	MD
Entity Address, Postal Zip Code	20817
City Area Code	301
Local Phone Number	380-3000
Title of 12(b) Security	Class A Common Stock, $0.01 par value
Trading Symbol	MAR
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 37,430,276,528
Entity Common Stock, Shares Outstanding		326,311,111
Documents Incorporated by Reference	Portions of the Proxy Statement prepared for the 2022 Annual Meeting of Stockholders are incorporated by reference into Part III of this report.
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Entity Central Index Key	0001048286
Current Fiscal Year End Date	--12-31

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2021
Audit Information [Abstract]
Auditor Name	Ernst & Young LLP
Auditor Location	Tysons, Virginia
Auditor Firm ID	42

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME (LOSS) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
REVENUES
Total revenue		$ 13,857	$ 10,571	$ 20,972
OPERATING COSTS AND EXPENSES
Depreciation, amortization, and other		220	346	341
General, administrative, and other		823	762	938
Restructuring and merger-related charges		8	267	138
Costs and Expenses, Total		12,107	10,487	19,172
OPERATING INCOME		1,750	84	1,800
Gains and other income, net		10	9	154
Loss on extinguishment of debt		(164)	0	0
Interest expense		(420)	(445)	(394)
Interest income		28	27	26
Equity in (losses) earnings	[1]	(24)	(141)	13
INCOME (LOSS) BEFORE INCOME TAXES		1,180	(466)	1,599
(Provision) benefit for income taxes		(81)	199	(326)
NET INCOME (LOSS)		$ 1,099	$ (267)	$ 1,273
EARNINGS (LOSS) PER SHARE
Earnings (loss) per share - basic (in USD per share)		$ 3.36	$ (0.82)	$ 3.83
Earnings (loss) per share - diluted (in USD per share)		$ 3.34	$ (0.82)	$ 3.80
Base management fees
REVENUES
Gross fee revenues		$ 669	$ 443	$ 1,180
Franchise fees
REVENUES
Gross fee revenues		1,790	1,153	2,006
Incentive management fees
REVENUES
Gross fee revenues		235	87	637
Net fee revenues
REVENUES
Gross fee revenues		2,694	1,683	3,823
Contract investment amortization		(75)	(132)	(62)
Total revenue		2,619	1,551	3,761
Owned, leased, and other
REVENUES
Total revenue		796	568	1,612
OPERATING COSTS AND EXPENSES
Cost of revenues		734	677	1,316
Reimbursements
REVENUES
Total revenue	[1]	10,442	8,452	15,599
OPERATING COSTS AND EXPENSES
Cost of revenues	[1]	$ 10,322	$ 8,435	$ 16,439
[1]	See Note 15 for disclosure of related party amounts.

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement of Comprehensive Income [Abstract]
Net income	$ 1,099	$ (267)	$ 1,273
Other comprehensive income (loss):
Foreign currency translation adjustments	(212)	229	35
Derivative instrument adjustments and other, net of tax	5	(3)	(5)
Total other comprehensive (loss) income, net of tax	(207)	226	30
Comprehensive income (loss)	$ 892	$ (41)	$ 1,303

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Current assets
Cash and equivalents	$ 1,393	$ 877
Accounts and notes receivable, net	1,982	1,768
Prepaid expenses and other	251	180
Total current assets	3,626	2,825
Property and equipment, net	1,503	1,514
Intangible assets
Intangible assets	8,926	8,989
Goodwill	9,073	9,175
Total intangible assets	17,999	18,164
Equity method investments	387	422
Notes receivable, net	144	159
Deferred tax assets	228	249
Operating lease assets	1,062	752
Other noncurrent assets	604	616
Total assets	25,553	24,701
Current liabilities
Current portion of long-term debt	805	1,173
Accounts payable	726	527
Accrued payroll and benefits	1,187	831
Accrued expenses and other	1,167	1,452
Total current liabilities	6,407	5,752
Long-term debt	9,333	9,203
Deferred tax liabilities	169	83
Operating lease liabilities	1,098	823
Other noncurrent liabilities	2,002	2,366
Stockholders’ equity
Class A Common Stock	5	5
Additional paid-in-capital	5,892	5,851
Retained earnings	10,305	9,206
Treasury stock, at cost	(14,446)	(14,497)
Accumulated other comprehensive loss	(342)	(135)
Shareholder's equity (deficit)	1,414	430
Liabilities and deficit, total	25,553	24,701
Brands
Intangible assets
Intangible assets	5,979	6,059
Contract acquisition costs and other
Intangible assets
Intangible assets	2,947	2,930
Guest loyalty program
Current liabilities
Liability for guest loyalty program	2,522	1,769
Contract with customer	3,949	4,502
Deferred revenue
Current liabilities
Contract with customer	$ 1,181	$ 1,542

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021		Dec. 31, 2020		Dec. 31, 2019
OPERATING ACTIVITIES
Net income (loss)	$ 1,099		$ (267)		$ 1,273
Adjustments to reconcile to cash provided by operating activities:
Depreciation, amortization, and other	295		478		403
Stock-based compensation	182		201		187
Income taxes	(281)		(478)		(200)
Contract acquisition costs	(210)		(142)		(195)
Restructuring and merger-related charges	(10)		200		86
Working capital changes	110		(28)		(273)
(Gain) loss on asset dispositions	(3)		3		(147)
Loss on extinguishment of debt	164		0		0
Deferred revenue changes and other	(141)		1,137		294
Net cash provided by operating activities	1,177		1,639		1,685
INVESTING ACTIVITIES
Capital and technology expenditures	(183)		(135)		(653)
Dispositions	12		260		395
Loan advances	(13)		(41)		(30)
Loan collections	40		8		51
Other	(43)		(57)		(47)
Net cash (used in) provided by investing activities	(187)		35		(284)
FINANCING ACTIVITIES
Commercial paper/Credit Facility, net	150		(2,290)		951
Issuance of long-term debt	1,793		3,561		1,397
Repayment of long-term debt	(2,174)		(1,887)		(835)
Issuance of Class A Common Stock	2		0		7
Debt extinguishment costs	(155)		0		0
Dividends paid	0		(156)		(612)
Purchase of treasury stock	0		(150)		(2,260)
Stock-based compensation withholding taxes	(90)		(103)		(148)
Other	11		(8)		(8)
Net cash used in financing activities	(463)		(1,033)		(1,508)
INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH	527		641		(107)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, beginning of period	894	[1]	253		360
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, end of period	1,421	[1]	894	[1]	253
Restricted cash	28		17
Guest loyalty program
Adjustments to reconcile to cash provided by operating activities:
Liability for guest loyalty program	$ (28)		$ 535		$ 257
[1]	The 2021 amounts include beginning restricted cash of $17 million at December 31, 2020 and ending restricted cash of $28 million at December 31, 2021, which we present in the “Prepaid expenses and other” and “Other noncurrent assets” captions of our Balance Sheets.

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Millions, $ in Millions	Total	Cumulative Effect, Period of Adoption, Adjustment	Class A Common StockClass A Common Stock		Additional Paid-in- Capital	Retained Earnings	Retained EarningsCumulative Effect, Period of Adoption, Adjustment	Treasury Stock, at Cost	Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive LossCumulative Effect, Period of Adoption, Adjustment
Beginning balance at Dec. 31, 2018	$ 2,225	$ 1	$ 5		$ 5,814	$ 8,982	$ 1	$ (12,185)	$ (391)	$ 0
Beginning balance (in shares) at Dec. 31, 2018			339.1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	1,273					1,273
Other comprehensive income	30								30
Dividends	(612)					(612)
Stock-based compensation plans (in shares)			2.2
Stock-based compensation plans	46				(14)			60
Purchase of treasury stock	(2,260)							(2,260)
Purchase of treasury stock (in shares)			(17.3)
Ending balance at Dec. 31, 2019	703	$ (15)	$ 5		5,800	9,644	$ (15)	(14,385)	(361)
Ending balance (in shares) at Dec. 31, 2019			324
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(267)					(267)
Other comprehensive income	226								226
Dividends	(156)					(156)
Stock-based compensation plans (in shares)			1.4
Stock-based compensation plans	89				51			38
Purchase of treasury stock	(150)							(150)
Purchase of treasury stock (in shares)			(1)
Ending balance at Dec. 31, 2020	430		$ 5		5,851	9,206		(14,497)	(135)
Ending balance (in shares) at Dec. 31, 2020			324.4
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	1,099					1,099
Other comprehensive income	(207)								(207)
Stock-based compensation plans (in shares)			1.9
Stock-based compensation plans	92				41			51
Ending balance at Dec. 31, 2021	$ 1,414		$ 5		$ 5,892	$ 10,305		$ (14,446)	$ (342)
Ending balance (in shares) at Dec. 31, 2021	326.3		326.3	[1]
[1]	Our restated certificate of incorporation authorizes 800 million shares of our common stock, with a par value of $0.01 per share and 10 million shares of preferred stock, without par value. At year-end 2021, we had 326.3 million of these authorized shares of our common stock and no preferred stock outstanding.

CONSOLIDATED STATEMENTS OF ST_2

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2021
Statement of Stockholders' Equity [Abstract]
Accounting Standards Update [Extensible List]		Accounting Standards Update 2016-13 [Member]	Accounting Standards Update 2016-02 [Member]
Dividends declared (in USD per share)	$ 0.48	$ 1.85
Common stock, authorized (in shares)				800,000,000
Common stock, par value (in USD per share)				$ 0.01
Preferred stock, authorized (in shares)				10,000,000
Common stock, outstanding (in shares)				326,300,000
Preferred stock, outstanding (in shares)				0

BASIS OF PRESENTATION

BASIS OF PRESENTATION	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION The consolidated financial statements present the results of operations, financial position, and cash flows of Marriott International, Inc. and subsidiaries (referred to in this report as “we,” “us,” “Marriott,” or the “Company”). In order to make this report easier to read, we also refer throughout to (1) our Consolidated Financial Statements as our “Financial Statements,” (2) our Consolidated Statements of Income (Loss) as our “Income Statements,” (3) our Consolidated Balance Sheets as our “Balance Sheets,” (4) our Consolidated Statements of Cash Flows as our “Statements of Cash Flows,” (5) our properties, brands, or markets in the United States and Canada as “U.S. & Canada,” and (6) our properties, brands, or markets in our Caribbean and Latin America, Europe, Middle East and Africa, Greater China, and Asia Pacific excluding China regions, as “International.” In addition, references throughout to numbered “Notes” refer to these Notes to Consolidated Financial Statements, unless otherwise stated. Preparation of financial statements that conform with U.S. generally accepted accounting principles (“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. The uncertainty created by the coronavirus pandemic and efforts to contain it (“COVID-19”) has made such estimates more difficult and subjective. 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 at fiscal year-end 2021 and fiscal year-end 2020 and the results of our operations and cash flows for fiscal years 2021, 2020, and 2019. We have eliminated all material intercompany transactions and balances between entities consolidated in these Financial Statements.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Revenue Recognition Base Management and Incentive Management Fees : For our managed hotels, we have performance obligations to provide hotel management services and a license to our intellectual property for the use of our brand names. As compensation for such services, we are generally entitled to receive base fees, which are a percentage of the revenues of hotels, and incentive management fees, which are generally based on a measure of hotel profitability. Both the base and incentive management fees are variable consideration, as the transaction price is based on a percentage of revenue or profit, as defined in each contract. We recognize base management fees on a monthly basis over the term of the agreement as those amounts become payable. We recognize incentive management fees on a monthly basis over the term of the agreement based on each property’s financial results, as long as we do not expect a significant reversal due to projected future hotel performance or cash flows in future periods. Franchise Fee and Royalty Fee Revenue : For our franchised hotels, we have a performance obligation to provide franchisees and operators a license to our intellectual property for use of certain of our brand names. As compensation for such services, we are typically entitled to initial application fees and ongoing royalty fees. Our ongoing royalty fees represent variable consideration, as the transaction price is based on a percentage of certain revenues of the hotels, as defined in each contract. We recognize royalty fees on a monthly basis over the term of the agreement as those amounts become payable. Initial application and relicensing fees are fixed consideration payable upon submission of a franchise application or renewal and are recognized on a straight-line basis over the initial or renewal term of the franchise agreements. Owned and Leased Hotel Revenue : At our owned and leased hotels, we have performance obligations to provide accommodations and other ancillary services to hotel guests. As compensation for such goods and services, we are typically entitled to a fixed nightly fee for an agreed upon period and additional fixed fees for any ancillary services purchased. These fees are generally payable at the time the hotel guest checks out of the hotel. We generally satisfy the performance obligations over time, and we recognize the revenue from room sales and from other ancillary guest services on a daily basis, as the rooms are occupied and we have rendered the services. Cost Reimbursements : Under our management and franchise agreements, we are entitled to be reimbursed for certain costs we incur on behalf of the managed, franchised, and licensed properties, with no added mark-up. These costs primarily consist of payroll and related expenses at managed properties where we are the employer of the employees at the properties and include certain operational and administrative costs as provided for in our contracts with the owners. We are entitled to reimbursement in the period we incur the related reimbursable costs, which we recognize within the “Cost reimbursement revenue” caption of our Income Statements. Under our management and franchise agreements, hotel owners and franchisees participate in certain centralized programs and services, such as marketing, sales, reservations, and insurance programs. We operate these programs and services for the benefit of our hotel owners. We do not operate these programs and services to generate a profit over the long term, and accordingly, when we recover the costs that we incur for these programs and services from our hotel owners, we do not seek a mark-up. The amounts we charge for these programs and services are generally a combination of fixed fees and variable fees based on sales or other metrics and are payable on a monthly basis. We generally recognize revenue within the “Cost reimbursement revenue” caption of our Income Statements when the amounts may be billed to hotel owners, and we recognize expenses within the “Reimbursed expenses” caption as they are incurred. This pattern of recognition results in timing differences between the costs incurred for centralized programs and services and the related reimbursement from hotel owners in our operating and net income. Over the long term, these programs and services are not designed to impact our economics, either positively or negatively. In addition, we present in the “Reimbursed expenses” caption of our Income Statements spending funded by the proceeds ($664 million, $425 million after-tax) from the 2017 sale of our interest in Avendra LLC, which we committed would be used for the benefit of hotels in our system. Such spending totaled $56 million ($42 million after-tax) in 2021, $62 million ($46 million after-tax) in 2020, and $118 million ($87 million after-tax) in 2019. Other Revenue : Includes Global Design fees, which we describe below, termination fees, and other property and brand revenues. We generally recognize termination fees when collection is probable and other revenue as services are rendered. Amounts received in advance are deferred as liabilities. We provide certain hotel design and construction review (“Global Design”) services to our managed and franchised hotel owners, generally during the period prior to a hotel’s opening or during the period a hotel is converting to a Marriott brand (the “pre-opening period”). As compensation for such services, we may be entitled to receive a one-time fixed fee that is payable during the pre-opening period of the hotel. As these services are not a distinct performance obligation, we recognize the fees on a straight-line basis over the initial term of the management or franchise agreement within the “Owned, leased, and other revenue” caption of our Income Statements. Practical Expedients and Exemptions : We do not disclose the amount of variable consideration that we expect to recognize in future periods in the following circumstances: (1) if we recognize the revenue based on the amount invoiced or services performed; (2) for sales-based or usage-based royalty promised in exchange for a license of intellectual property; or (3) if the consideration is allocated entirely to a wholly unsatisfied promise to transfer a distinct service that forms part of a single performance obligation, and the terms of the consideration relate specifically to our efforts to transfer, or to a specific outcome from transferring the service. We are required to collect certain taxes and fees from customers on behalf of governmental agencies and remit these to the applicable governmental agencies on a periodic basis. We do not include these taxes in determining the transaction price. Loyalty Program : Loyalty Program members earn points based on the money they spend at our hotels; the exchange of timeshare ownership interests; purchases of timeshare interval, fractional ownership, and residential products; and through participation in travel experiences and affiliated partners’ programs, such as those offered by credit card, car rental, airline, and other companies. Members can redeem points for stays at most of our hotels, airline tickets, airline frequent flyer program miles, rental cars, merchandise, and a variety of other awards. Points cannot be redeemed for cash. Under our Loyalty Program, we have a performance obligation to provide or arrange for the provision of goods or services for free or at a discount to Loyalty Program members in exchange for the redemption of points earned from past activities. We operate our Loyalty Program as a cross-brand marketing program to participating properties. Our management and franchise agreements require that properties reimburse us for a portion of the costs of operating the Loyalty Program, including costs for marketing, promotion, communication with, and performing member services for Loyalty Program members, with no added mark-up. We generally receive monthly cash contributions from managed, franchised, owned, and leased hotels based on a portion of qualified spend by Loyalty Program members (when the points are earned). We recognize these contributions into revenue as we provide the related service (when the points are redeemed). The amount of revenue we recognize upon point redemption is based on a blend of historical funding rates and is impacted by our estimate of the “breakage” for points that members will never redeem. We estimate breakage based on our historical experience and expectations of future member behavior. We recognize revenue net of the redemption cost within our “Cost reimbursement revenue” caption on our Income Statements, as our performance obligation is to facilitate the transaction between the Loyalty Program member and the managed or franchised property or program partner. Our redemption cost, which is generally based on redemption rates that can increase in periods in which occupancy at the property exceeds a certain threshold, could be higher or lower than our revenue recognized in any given period. We recognize all other Loyalty Program costs as incurred in our “Reimbursed expenses” caption. We have multi-year agreements for our co-brand credit cards associated with our Loyalty Program. Under these agreements, we have performance obligations to provide a license to the intellectual property associated with our brands and marketing lists (“Licensed IP”) to the financial institutions that issue the credit cards, to arrange for the redemption of Loyalty Program points as discussed in the preceding paragraph, and to arrange for the redemption of free night certificates provided to cardholders. We receive fees from these agreements, including fixed amounts that are primarily payable at contract inception, and variable amounts that are paid to us monthly over the term of the agreements, based on: (1) the number of free night certificates issued or redeemed; (2) the number of Loyalty Program points purchased; and (3) the volume of cardholder spend. We allocate those fees among the performance obligations, including the Licensed IP, our Loyalty Program points, and free night certificates provided to cardholders based on their estimated standalone selling prices. The estimation of the standalone selling prices requires significant judgments based upon generally accepted valuation methodologies regarding the value of our Licensed IP, the amount of funding we will receive, and the number of Loyalty Program points and free night certificates cardholders will redeem over the term of the agreements. We base our estimates of these amounts on our historical experience and expectation of future cardholder behavior. We recognize the portion of the Licensed IP revenue that meets the sales-based royalty criteria as the credit cards are used and the remaining portion of the Licensed IP revenue on a straight-line basis over the contract term. In our Income Statements, we primarily recognize Licensed IP revenue in the “Franchise fees” caption, and we recognize a portion in the “Cost reimbursement revenue” caption. We recognize the revenue related to the Loyalty Program points as discussed in the preceding paragraph. We recognize the revenue related to the free night certificates when the related service is provided. We recognize revenue net of the redemption cost, as our performance obligation is to facilitate the transaction between the Loyalty Program member and the managed or franchised property. Contract Balances : We generally receive payments from customers as we satisfy our performance obligations. We record a receivable when we have an unconditional right to receive payment and only the passage of time is required before payment is due. We record deferred revenue when we receive payment, or have the unconditional right to receive payment, in advance of the satisfaction of our performance obligations related to franchise application and relicensing fees, Global Design fees, credit card branding license fees, and our Loyalty Program. Current and noncurrent deferred revenue decreased by $340 million, to $1,527 million at December 31, 2021 from $1,867 million at December 31, 2020, primarily as a result of $334 million of revenue recognized in 2021 that was deferred as of December 31, 2020, as well as the reclassification from deferred revenue to the liability for guest loyalty program, which we discuss below. The decrease was partially offset by deferred cash received for free night certificates related to the co-brand credit cards and gift cards, as well as an increase in franchise application and relicensing fees. Our current deferred revenue, which we present in the “Accrued expenses and other” caption of our Balance Sheets, was $346 million at year-end 2021 and $325 million at year-end 2020. Our current and noncurrent liability for guest loyalty program increased by $200 million, to $6,471 million at December 31, 2021, from $6,271 million at December 31, 2020, primarily reflecting an increase in points earned by members. This includes a $228 million reclassification from deferred revenue to the liability for guest loyalty program as a result of points that were earned during the period by members using our U.S.-issued co-brand credit cards, which were prepaid by the financial institutions in 2020. The increase was partially offset by $1,966 million of revenue recognized in 2021, that was deferred as of December 31, 2020. The current portion of our liability for guest loyalty program increased compared to December 31, 2020, due to higher estimated redemptions in the short-term. At each reporting period, we evaluate the estimates used in the recognition of Loyalty Program revenues, including estimates of the breakage of points that members will never redeem and the amount of funding we expect to receive over the life of the agreements with various third parties. In 2021, the updated estimates resulted in a net increase in revenue, and a corresponding reduction in the liability for guest loyalty program of approximately $58 million. Costs Incurred to Obtain and Fulfill Contracts with Customers We incur certain costs to obtain and fulfill contracts with customers, which we capitalize and amortize on a straight-line basis over the initial, non-cancellable term of the contract. We classify incremental costs of obtaining a contract with a customer in the “Contract acquisition costs and other” caption of our Balance Sheets, the related amortization in the “Contract investment amortization” caption of our Income Statements, and the cash flow impact in the “Contract acquisition costs” caption of our Statements of Cash Flows. We assess the assets for impairment when events or changes in circumstances indicate that we may not be able to recover the carrying value. We recognize an impairment loss for the amount by which the carrying value exceeds the expected net future cash flows. We classify certain direct costs to fulfill a contract with a customer in the “Other noncurrent assets” and “Prepaid expenses and other” captions of our Balance Sheets, and the related amortization in the “Owned, leased, and other - direct expenses” caption of our Income Statements. We had capitalized costs to fulfill contracts with customers of $368 million at December 31, 2021 and $366 million at December 31, 2020. See Note 10 for information on capitalized costs incurred to obtain contracts with customers. Real Estate Sales We recognize a gain or loss on real estate transactions when control of the asset transfers to the buyer, generally at the time the sale closes. In sales transactions where we retain a management contract, the terms and conditions of the management contract are generally comparable to the terms and conditions of the management contracts obtained directly with third-party owners in competitive processes. Retirement Savings Plan We contribute to tax-qualified retirement plans for the benefit of U.S. employees who meet certain eligibility requirements and choose to participate in the plans. Participating employees specify the percentage or amount of salary they wish to contribute from their compensation, and the Company typically makes discretionary and certain other matching or supplemental contributions. We recognized compensation costs from Company contributions of $80 million in 2021, $75 million in 2020, and $128 million in 2019. Non-U.S. Operations The U.S. dollar is the functional currency of our consolidated and unconsolidated entities operating in the U.S. The functional currency of our consolidated and unconsolidated entities operating outside of the U.S. is generally the principal currency of the economic environment in which the entity primarily generates and expends cash. We translate the financial statements of consolidated entities whose functional currency is not the U.S. dollar into U.S. dollars, and we do the same, as needed, for unconsolidated entities whose functional currency is not the U.S. dollar. We translate assets and liabilities at the exchange rate in effect as of the financial statement date and translate income statement accounts using the weighted average exchange rate for the period. We include translation adjustments from currency exchange and the effect of exchange rate changes on intercompany transactions of a long-term investment nature as a separate component of stockholders’ equity. We report gains and losses from currency exchange rate changes for intercompany receivables and payables that are not of a long-term investment nature, as well as for third-party transactions, currently in operating costs and expenses. Stock-Based Compensation Our stock-based compensation awards primarily consist of restricted stock units (“RSUs”). We measure compensation costs for our stock-based payment transactions at fair value based on the average of the high and low stock price on the grant date (discounted for the lack of marketability and dividends), and we recognize those costs in our Financial Statements over the vesting period during which the employee provides service in exchange for the award. Advertising Costs We expense costs to produce advertising as they are incurred and to communicate advertising as the communication occurs and record such amounts in reimbursed expenses to the extent undertaken on behalf of our owners and franchisees. We recognized advertising costs of $470 million in 2021, $276 million in 2020, and $851 million in 2019. Income Taxes We record the amounts of taxes payable or refundable for the current year, as well as deferred tax liabilities and assets for the future tax consequences of events we have recognized in our Financial Statements or tax returns, using judgment in assessing future profitability and the likely future tax consequences of those events. We base our estimates of deferred tax assets and liabilities on current tax laws, rates and interpretations, and, in certain cases, business plans and other expectations about future outcomes. We develop our estimates of future profitability based on our historical data and experience, industry projections, micro and macro general economic condition projections, and our expectations. We account for U.S. tax on Global Intangible Low-Taxed Income in the period incurred. We generally recognize the effect of the tax law changes in the period of enactment. Changes in existing tax laws and rates, their related interpretations, and the uncertainty generated by the current economic environment may affect the amounts of our deferred tax liabilities or the valuations of our deferred tax assets over time. Our accounting for deferred tax consequences represents management’s best estimate of future events that can be appropriately reflected in the accounting estimates. For tax positions we have taken or expect to take in a tax return, we apply a more likely than not threshold (that is, a likelihood of more than 50 percent), under which we must conclude a tax position is more likely than not to be sustained, assuming that the position will be examined by the appropriate taxing authority that has full knowledge of all relevant information, to continue to recognize the benefit. In determining our provision for income taxes, we use judgment, reflecting our estimates and assumptions, in applying the more likely than not threshold. We recognize accrued interest and penalties for our unrecognized tax benefits as a component of tax expense. See Note 6 for further information. Cash and Equivalents We consider all highly liquid investments with an initial maturity of three months or less at date of purchase to be cash equivalents. Accounts Receivable Our accounts receivable primarily consist of amounts due from hotel owners with whom we have management and franchise agreements and include reimbursements of costs we incurred on behalf of managed and franchised properties. We record an allowance for credit losses measured over the contractual life of the instrument based on an assessment of historical collection activity and current and forecasted future economic conditions by region. Our allowance for credit losses was $187 million at December 31, 2021 and $207 million at December 31, 2020. The decrease during 2021 was primarily due to the write-off of amounts deemed uncollectible, partially offset by the provision for credit losses. Our provision for credit losses totaled $22 million in 2021 and $136 million in 2020. Assets Held for Sale We consider properties to be assets held for sale when (1) management commits to a plan to sell the property; (2) it is unlikely that the disposal plan will be significantly modified or discontinued; (3) the property is available for immediate sale in its present condition; (4) actions required to complete the sale of the property have been initiated; (5) sale of the property is probable and we expect the completed sale will occur within one year; and (6) the property is actively being marketed for sale at a price that is reasonable given our estimate of current market value. Upon designation of a property as an asset held for sale, we record the property’s value at the lower of its carrying value or its estimated fair value, less estimated costs to sell, and we cease depreciation. Goodwill We test goodwill for potential impairment at least annually in the fourth quarter, or more frequently if an event or other circumstance indicates that we may not be able to recover the carrying amount of the net assets of the reporting unit. In evaluating goodwill for impairment, we may assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. Factors we consider when making this determination include, but are not limited to, assessing general economic conditions, hospitality industry trends, and overall financial performance of the reporting unit. If we bypass the qualitative assessment, or if we conclude that it is more likely than not that the fair value of a reporting unit is less than its carrying value, then we perform a quantitative impairment test by comparing the fair value of a reporting unit with its carrying amount. We calculate the estimated fair value of a reporting unit using a combination of the income and market approaches. For the income approach, we use internally developed discounted cash flow models that include the following assumptions, among others: projections of revenues, expenses, and related cash flows based on assumed long-term growth rates and demand trends; expected future investments to grow new units; and estimated discount rates. For the market approach, we use internal analyses based primarily on market comparables. We base these assumptions on our historical data and experience, third-party appraisals, industry projections, micro and macro general economic condition projections, and our expectations. We have had no goodwill impairment charges for the last three fiscal years. Intangibles and Long-Lived Assets We assess indefinite-lived intangible assets for continued indefinite use and for potential impairment annually, or more frequently if an event or other circumstance indicates that we may not be able to recover the carrying amount of the asset. Like goodwill, we may first assess qualitative factors to determine whether it is more likely than not that the fair value of the indefinite-lived intangible is less than its carrying amount. If the carrying value of the asset exceeds the fair value, we recognize an impairment loss in the amount of that excess. We test definite-lived intangibles and long-lived asset groups for recoverability when changes in circumstances indicate that we may not be able to recover the carrying value; for example, when there are material adverse changes in projected revenues or expenses, significant underperformance relative to historical or projected operating results, or significant negative industry or economic trends. We also test recoverability when management has committed to a plan to sell or otherwise dispose of an asset group and we expect to complete the plan within a year. We evaluate recoverability of an asset group by comparing its carrying value, including right-of-use assets, to the future net undiscounted cash flows that we expect the asset group will generate. If the comparison indicates that we will not be able to recover the carrying value of an asset group, we recognize an impairment loss for the amount by which the carrying value exceeds the estimated fair value. When we recognize an impairment loss for assets to be held and used, we depreciate the adjusted carrying amount of those assets over their remaining useful life. We calculate the estimated fair value of an intangible asset or asset group using the income approach or the market approach. We utilize the same assumptions and methodology for the income approach that we describe in the “Goodwill” caption. For the market approach, we use internal analyses based primarily on market comparables and assumptions about market capitalization rates, growth rates, and inflation. See Note 8 for additional information. Investments We hold equity interests in ventures established to develop or acquire and own hotel properties or that otherwise support our hospitality operations. We account for these investments as either an equity method investment, a financial asset, or a controlled subsidiary. We apply the equity method of accounting if we have significant influence over the entity, typically when we hold 20 percent or more of the voting common stock (or equivalent) of an investee but do not have a controlling financial interest. In certain circumstances, such as with investments in limited liability companies or limited partnerships, we apply the equity method of accounting when we own as little as three to five percent. We account for financial assets at fair value if it is readily determinable, or using the fair value alternative method, whereby investments are measured at cost less impairment, adjusted for observable price changes. We consolidate entities that we control. When we acquire an investment that qualifies for the equity method of accounting, we determine the acquisition date fair value of the identifiable assets and liabilities. If our carrying amount exceeds our proportional share in the equity of the investee, we amortize the difference on a straight-line basis over the underlying assets’ estimated useful lives when calculating equity method earnings attributable to us, excluding the difference attributable to land, which we do not amortize. We evaluate an investment for impairment when circumstances indicate that we may not be able to recover the carrying value. When evaluating our ventures, we consider loan defaults, significant underperformance relative to historical or projected operating performance, or significant negative industry or economic trends. Additionally, a venture’s commitment to a plan to sell some or all of its assets could cause us to evaluate the recoverability of the venture’s individual long-lived assets and possibly the venture itself. We impair investments we account for using the equity method of accounting when we determine that there has been an “other-than-temporary” decline in the venture’s estimated fair value compared to its carrying value. We perform qualitative assessments for investments we account for using the fair value alternative method and we record any associated impairment when the fair value is less than the carrying value. Under the accounting guidance for the consolidation of variable interest entities, we analyze our variable interests, including equity investments, loans, and guarantees, to determine if an entity in which we have a variable interest is a variable interest entity. Our analysis includes both quantitative and qualitative reviews. We base our quantitative analysis on the forecasted cash flows of the entity, and our qualitative analysis on our review of the design of the entity, its organizational structure including decision-making ability, and relevant financial agreements. We also use our qualitative analysis to determine if we must consolidate a variable interest entity as its primary beneficiary. Fair Value Measurements We have various financial instruments we must measure at fair value on a recurring basis, including certain marketable securities and derivatives. See Note 12 for further information. We also apply the provisions of fair value measurement to various nonrecurring measurements for our financial and nonfinancial assets and liabilities. Accounting standards define fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (an exit price). We measure our assets and liabilities using inputs from the following three levels of the fair value hierarchy: Level 1 inputs are unadjusted quoted prices in active markets for identical assets or liabilities that we have the ability to access at the measurement date. Level 2 inputs include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (i.e., interest rates, yield curves, etc.), and inputs that are derived principally from or corroborated by observable market data by correlation or other means (market corroborated inputs). Level 3 inputs include unobservable inputs that reflect our assumptions about what factors market participants would use in pricing the asset or liability. We develop these inputs based on the best information available, including our own data. Derivative Instruments We record derivatives at fair value. The designation of a derivative instrument as a hedge and its ability to meet the hedge accounting criteria determine how we reflect the change in fair value of the derivative instrument in our Financial Statements. A derivative qualifies for hedge accounting if, at inception, we expect the derivative will be highly effective in offsetting the underlying hedged cash flows or fair value and we fulfill the hedge documentation standards at the time we enter into the derivative contract. We designate a hedge as a cash flow hedge, fair value hedge, or a hedge of the net investment in non-U.S. operations based on the exposure we are hedging. For the effective portion of qualifying cash flow hedges, we record changes in fair value in accumulated other comprehensive income (“AOCI”). We release the derivative’s gain or loss from AOCI to match the timing of the underlying hedged items’ effect on earnings. The change in fair value of qualifying fair value hedges as well as changes in fair value of the underlying hedged items to the hedged risks are recorded concurrently in earnings. We review the effectiveness of our hedging instruments quarterly and discontinue hedge accounting for any hedge that we no longer consider to be highly effective. We recognize changes in fair value for derivatives not designated as hedges or those not qualifying for hedge accounting in current period earnings. Upon termination of cash flow hedges, we release gains and losses from AOCI based on the timing of the underlying cash flows or revenue recognized, unless the termination results from the failure of the intended transaction to occur in the expected time frame. Such untimely transactions require us to immediately recognize in earnings the gains and/or losses that we previously rec

RESTRUCTURING CHARGES

RESTRUCTURING CHARGES	12 Months Ended
	Dec. 31, 2021
Restructuring and Related Activities [Abstract]
RESTRUCTURING CHARGES	RESTRUCTURING CHARGES Beginning in the 2020 second quarter, we initiated several regional restructuring plans to achieve cost savings in response to the decline in lodging demand caused by COVID-19. We substantially completed our above-property programs as of December 31, 2020 and our property-level programs as of September 30, 2021. The following table presents our restructuring liability activity during the period: ($ in millions) Employee termination benefits Balance at December 31, 2020 $ 143 Charges — Cash payments (122) Other (6) Balance at December 31, 2021, classified in “Accrued expenses and other” $ 15

EARNINGS PER SHARE

EARNINGS PER SHARE	12 Months Ended
	Dec. 31, 2021
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, the latter of which uses the treasury stock method in order to calculate the dilutive effect of the Company’s potential common stock: (in millions, except per share amounts) 2021 2020 2019 Computation of Basic Earnings Per Share Net income (loss) $ 1,099 $ (267) $ 1,273 Shares for basic earnings per share 327.2 325.8 332.7 Basic earnings (loss) per share $ 3.36 $ (0.82) $ 3.83 Computation of Diluted Earnings Per Share Net income (loss) $ 1,099 $ (267) $ 1,273 Shares for basic earnings per share 327.2 325.8 332.7 Effect of dilutive securities Stock-based compensation (1) 2.1 — 2.8 Shares for diluted earnings per share 329.3 325.8 335.5 Diluted earnings (loss) per share $ 3.34 $ (0.82) $ 3.80 (1) For the calculation of diluted loss per share for 2020, we excluded share-based compensation securities of 1.4 million because the effect was anti-dilutive.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	12 Months Ended
	Dec. 31, 2021
Share-based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION RSUs and PSUs We granted RSUs in 2021 to certain officers and employees, and those units vest generally over four years in equal annual installments commencing one year after the grant date. We also granted performance-based RSUs (“PSUs”) in 2021 to certain executives, which are earned, subject to continued employment and the satisfaction of certain performance and market conditions based on the degree of achievement of pre-established targets for 2023 adjusted EBITDA performance and relative total stockholder return over the 2021 to 2023 performance period. In the 2020 third quarter, as part of our effort to encourage associate retention in response to the severe impact of COVID-19 on our industry and the Company, we accelerated the issuance of RSU awards to certain officers and employees that ordinarily would have been made in the 2021 first quarter, and those units generally vest over four years and five months, with one quarter of the units vesting one year and five months after the grant date and the remaining units vesting in equal annual installments thereafter. We did not accelerate the issuance of awards for our most senior executives. We had deferred compensation costs for unvested awards for RSUs, including PSUs, of approximately $189 million at year-end 2021 and $301 million at year-end 2020. The weighted average remaining term for RSUs outstanding at year-end 2021 was 2.2 years. The following table provides additional information on RSUs, including PSUs, for the last three fiscal years: 2021 2020 2019 Stock-based compensation expense (in millions) $ 171 $ 188 $ 177 Weighted average grant-date fair value (per unit) $ 141 $ 101 $ 117 Aggregate intrinsic value of distributed RSUs (in millions) $ 205 $ 234 $ 276 The following table presents the changes in our outstanding RSUs, including PSUs, during 2021 and the associated weighted average grant-date fair values: Number of RSUs (in millions) Weighted Average Grant-Date Fair Value (per unit) Outstanding at year-end 2020 5.8 $ 107 Granted 0.5 $ 141 Distributed (1.7) $ 113 Forfeited (0.2) $ 106 Outstanding at year-end 2021 4.4 $ 109 Other Information At year-end 2021, we had 25 million remaining shares authorized under the Marriott and Starwood Hotels & Resorts Worldwide, LLC, formerly known as Starwood Hotels & Resorts Worldwide, Inc. (“Starwood”) stock plans.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The components of our earnings (losses) before income taxes for the last three fiscal years consisted of: ($ in millions) 2021 2020 2019 U.S. $ 890 $ (320) $ 549 Non-U.S. 290 (146) 1,050 $ 1,180 $ (466) $ 1,599 Our (provision) benefit for income taxes for the last three fiscal years consisted of: ($ in millions) 2021 2020 2019 Current -U.S. Federal $ 99 $ 9 $ (272) -U.S. State 24 (41) (57) -Non-U.S. (86) (78) (161) 37 (110) (490) Deferred -U.S. Federal (122) 180 141 -U.S. State (37) 81 39 -Non-U.S. 41 48 (16) (118) 309 164 $ (81) $ 199 $ (326) Unrecognized Tax Benefits The following table reconciles our unrecognized tax benefit balance for each year from the beginning of 2019 to the end of 2021: ($ in millions) Amount Unrecognized tax benefit at beginning of 2019 $ 623 Change attributable to tax positions taken in prior years (13) Change attributable to tax positions taken during the current period 13 Decrease attributable to settlements with taxing authorities (54) Unrecognized tax benefit at year-end 2019 569 Change attributable to tax positions taken in prior years (66) Change attributable to tax positions taken during the current period 4 Decrease attributable to settlements with taxing authorities (43) Unrecognized tax benefit at year-end 2020 464 Change attributable to tax positions taken in prior years (134) Change attributable to tax positions taken during the current period — Decrease attributable to settlements with taxing authorities (48) Unrecognized tax benefit at year-end 2021 $ 282 Our unrecognized tax benefit balances included $266 million at year-end 2021, $410 million at year-end 2020, and $498 million at year-end 2019 of tax positions that, if recognized, would impact our effective tax rate. It is reasonably possible that within the next 12 months we will reach resolution of income tax examinations in one or more jurisdictions. The actual amount of any change to our unrecognized tax benefits could vary depending on the timing and nature of the settlement. Therefore, an estimate of the change cannot be provided. We recognize accrued interest and penalties for our unrecognized tax benefits as a component of tax expenses. Related interest (benefit) expense totaled $(21) million in 2021, $(15) million in 2020, and $28 million in 2019. We accrued interest and penalties related to our unrecognized tax benefits of approximately $45 million at year-end 2021 and $85 million at year-end 2020. We file income tax returns, including returns for our subsidiaries, in various jurisdictions around the world. The U.S. Internal Revenue Service (“IRS”) has examined our federal income tax returns, and as of year-end 2021, we have settled all issues for Marriott for tax years through 2015 and for tax year 2018. For Starwood, we have settled all tax years through 2016, the year the acquisition was completed. Our Marriott 2016, 2017, and 2019 through 2021 tax year audits are currently ongoing. Various foreign, state, and local income tax returns are also under examination by the applicable taxing authorities. Deferred Income Taxes Deferred income tax balances reflect the effects of temporary differences between the carrying amounts of assets and liabilities and their tax bases, as well as from net operating loss and tax credit carry-forwards. We state those balances at the enacted tax rates we expect will be in effect when we pay or recover the taxes. Deferred income tax assets represent amounts available to reduce income taxes we will pay on taxable income in future years. We evaluate our ability to realize these future tax deductions and credits by assessing whether we expect to have sufficient future taxable income from all sources, including reversal of taxable temporary differences, forecasted operating earnings, and available tax planning strategies to utilize these future deductions and credits. We establish a valuation allowance when we no longer consider it more likely than not that a deferred tax asset will be realized. The following table presents the tax effect of each type of temporary difference and carry-forward that gave rise to significant portions of our deferred tax assets and liabilities as of year-end 2021 and year-end 2020: ($ in millions) At Year-End 2021 At Year-End 2020 Deferred Tax Assets Employee benefits $ 235 $ 262 Net operating loss carry-forwards 771 818 Accrued expenses and other reserves 191 214 Receivables, net 11 12 Tax credits 53 49 Loyalty Program 181 367 Deferred income 98 69 Lease liabilities 336 252 Interest Limitation 163 — Other 34 82 Deferred tax assets 2,073 2,125 Valuation allowance (984) (1,009) Deferred tax assets after valuation allowance 1,089 1,116 Deferred Tax Liabilities Equity method investments (40) (29) Property and equipment (9) (42) Intangibles (666) (663) Right-of-use assets (290) (197) Self-insurance (25) (19) Deferred tax liabilities (1,030) (950) Net deferred taxes $ 59 $ 166 Our valuation allowance is primarily attributable to non-U.S. net operating loss carry-forwards. At year-end 2021, we had approximately $36 million of tax credits that will expire through 2031 and $18 million of tax credits that do not expire. We recorded $51 million of net operating loss benefits in 2021 and $44 million in 2020. At year-end 2021, we had approximately $3,778 million of primarily state and foreign net operating losses, of which $1,738 million will expire through 2041. We made no provision for U.S. income taxes or additional non-U.S. taxes on certain undistributed earnings of non-U.S. subsidiaries. These earnings could become subject to additional taxes if the non-U.S. subsidiaries dividend or loan those earnings to an affiliate or if we sell our interests in the non-U.S. subsidiaries. We cannot practically estimate the amount of additional taxes that might be payable on the undistributed earnings. Reconciliation of U.S. Federal Statutory Income Tax Rate to Actual Income Tax Rate The following table reconciles the U.S. statutory tax rate to our effective income tax rate for the last three fiscal years: 2021 2020 2019 U.S. statutory tax rate 21.0 % 21.0 % 21.0 % U.S. state income taxes, net of U.S. federal tax benefit 2.7 3.8 1.6 Non-U.S. income (0.5) 12.5 (3.3) Change in valuation allowance (0.7) (20.0) 3.4 Change in uncertain tax positions (12.0) 12.2 1.9 Permanent items (0.5) 9.4 1.3 Tax on asset dispositions (0.7) 0.0 (0.7) Excess tax benefits related to equity awards (2.8) 6.4 (3.2) U.S. tax on foreign earnings 0.4 (3.0) 0.1 Other, net (0.1) 0.6 (1.7) Effective rate 6.8 % 42.9 % 20.4 % The non-U.S. income tax benefit presented in the table above includes tax-exempt income in Hong Kong and Singapore, and a deemed interest deduction in Switzerland, which collectively represented 3.2% in 2021, 12.9% in 2020, and 8.8% in 2019. We included the impact of these items in the non-U.S. income line above because we consider them to be equivalent to a reduction of the statutory tax rates in these jurisdictions. Pre-tax income in Switzerland, Singapore, and Hong Kong totaled $255 million in 2021, $314 million in 2020, and $709 million in 2019. The non-U.S. income tax benefit also includes U.S. income tax expense on non-U.S. operations, which represents (0.5)% in 2021, 0.8% in 2020, and 2.0% in 2019. We included the impact of this tax in the non-U.S. income line above because we consider this tax to be an integral part of the foreign taxes. Other Information

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2021
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 and franchise contracts. The guarantees generally have a stated maximum funding amount and a term of three We present the maximum potential amount of our future guarantee fundings and the carrying amount of our liability for our debt service, operating profit, and other guarantees (excluding contingent purchase obligations) for which we are the primary obligor at year-end 2021 in the following table: ($ in millions) Guarantee Type Maximum Potential Recorded Liability for Debt service $ 20 $ 5 Operating profit 189 118 Other 18 4 $ 227 $ 127 Our liability at year-end 2021 for guarantees for which we are the primary obligor is reflected in our Balance Sheets as $17 million of “Accrued expenses and other” and $110 million of “Other noncurrent liabilities.” Our maximum potential guarantees listed in the preceding table include $42 million of operating profit guarantees and $3 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. In conjunction with financing obtained for specific projects or properties owned by us or entities in which we have an investment, we may provide industry standard indemnifications to the lender for loss, liability, or damage occurring as a result of the actions of the entity or our own actions. Contingent Purchase Obligation Sheraton Grand Chicago . In 2017, we granted the owner a one-time right to require us to purchase the leasehold interest in the land and the hotel for $300 million in cash (the “put option”). In the 2021 third quarter, we entered into an amendment with the owner to move the exercise period of the put option from the 2022 first half to the 2024 first half. If the owner exercises the put option, the closing is expected to occur in the 2024 fourth quarter, and we have the option to purchase, at the same time the put transaction closes, the fee simple interest in the underlying land for an additional $200 million in cash. We account for the put option as a guarantee, and our recorded liability was $300 million at year-end 2021 and 2020. We concluded that the entity that owns the Sheraton Grand Chicago hotel is a variable interest entity. We did not consolidate the entity because we do not have the power to direct the activities that most significantly impact the entity’s economic performance. Our maximum exposure to loss related to the entity is equal to the difference between the purchase price and the fair value of the hotel at the time that the put option is exercised, plus the maximum funding amount of an operating profit guarantee that we provided for the hotel. Commitments At year-end 2021, we had various purchase commitments for goods and services in the normal course of business, primarily for programs and services for which we are reimbursed by third-party owners, totaling $409 million. We expect to purchase goods and services subject to these commitments as follows: $227 million in 2022, $71 million in 2023, $88 million in 2024, and $23 million thereafter. Letters of Credit At year-end 2021, we had $148 million of letters of credit outstanding (all outside the Credit Facility, as defined in Note 9), most of which were for our self-insurance programs. Surety bonds issued as of year-end 2021 totaled $162 million, most of which state governments requested in connection with our self-insurance programs. Starwood Data Security Incident Description of Event On November 30, 2018, we announced a data security incident involving unauthorized access to the Starwood reservations database (the “Data Security Incident”). Working with leading security experts, we determined that there was unauthorized access to the Starwood network since 2014 and that an unauthorized party had copied information from the Starwood reservations database and taken steps towards removing it. The Starwood reservations database is no longer used for business operations . Expenses and Insurance Recoveries In 2021, we recorded $24 million of expenses and $19 million of accrued insurance recoveries related to the Data Security Incident; in 2020, we recorded an $11 million net reversal of expenses and $29 million of accrued insurance recoveries related to the Data Security Incident; and in 2019, we recorded $148 million of expenses and $84 million of accrued insurance recoveries related to the Data Security Incident. We received insurance recoveries of $23 million in 2021 and $47 million in 2020. We recognize insurance recoveries when they are probable of receipt and present them in our Income Statements in the same caption as the related expense, up to the amount of total expense incurred in prior and current periods. We present expenses and insurance recoveries related to the Data Security Incident in either the “Reimbursed expenses” or “Restructuring and merger-related charges” captions of our Income Statements. Litigation, Claims, and Government Investigations Following our announcement of the Data Security Incident, approximately 100 lawsuits were filed by consumers and others against us in U.S. federal, U.S. state and Canadian courts related to the incident. All but one of the U.S. cases were consolidated and transferred to the U.S. District Court for the District of Maryland, pursuant to orders of the U.S. Judicial Panel on Multidistrict Litigation (the “MDL”). The plaintiffs in th e U.S. and Canadian cases, who generally purport to represent various classes of consumers, generally claim to have been harmed by alleged actions and/or omissions by the Company in connection with the Data Security Incident and assert a variety of common law and statutory claims seeking monetary damages, injunctive relief, costs and attorneys’ fees, and other related relief. Among the U.S. cases consolidated in the MDL proceeding is a putative class action lawsuit that was filed on December 1, 2018 against the Company and certain of our current and former officers and directors, alleging violations of the federal securities laws in connection with statements regarding our cybersecurity systems and controls, and seeking certification of a class of affected persons, unspecified monetary damages, costs and attorneys’ fees, and other related relief (the “Securities Case”). The MDL proceeding also included two shareholder derivative complaints that were filed on February 26, 2019 and March 15, 2019, respectively, against the Company and certain of our current and former officers and directors, alleging, among other claims, breach of fiduciary duty, corporate waste, unjust enrichment, mismanagement and violations of the federal securities laws, and seeking unspecified monetary damages and restitution, changes to the Company’s corporate governance and internal procedures, costs and attorneys’ fees, and other related relief (the “MDL Derivative Cases”). A separate shareholder derivative complaint was filed in the Delaware Court of Chancery on December 3, 2019 against the Company and certain of our current and former officers and directors, alleging claims and seeking relief generally similar to the claims made and relief sought in the other two derivative cases. This case was not consolidated with the MDL proceeding. We filed motions to dismiss in connection with all of the U.S. cases. Our motions to dismiss the Securities Case and the MDL Derivative Cases were granted in June 2021. The plaintiff in the Securities Case has appealed the dismissal and that appeal is still pending. The plaintiffs in the MDL Derivative Cases have not appealed. Motions to dismiss in the other MDL cases have been denied in part or in whole and these cases remain at varying stages. Our motion to dismiss the Delaware derivative case was granted in October 2021 and no appeal was filed. A putative class action lawsuit brought on behalf of financial institutions has been voluntarily dismissed. The Canadian cases have effectively been consolidated into a single case in the province of Ontario. We dispute the allegations in the lawsuits described above and are vigorously defending against such claims. In April 2019, we received a letter purportedly on behalf of a stockholder of the Company (also one of the named plaintiffs in the Securities Case described above) demanding that our Board of Directors take action against certain of the Company’s current and former officers and directors to recover damages for alleged breaches of fiduciary duties and related claims arising from the Data Security Incident. In October 2021, we received a letter purportedly on behalf of another stockholder of the Company (also one of the named plaintiffs in one of the dismissed MDL Derivative Cases described above) demanding that our Board of Directors take action against certain of the Company’s current and former officers and directors to recover damages for alleged breaches of fiduciary duties and other claims related to the Data Security Incident or associated disclosures. The Board of Directors has constituted a demand review committee to investigate the claims made in these demand letters, and the committee has retained independent counsel to assist with the investigations. The committee has completed its investigation and reported its findings and recommendations to our Board of Directors, which thereafter resolved, in February 2022, to reject the demands in their entirety. In addition, on August 18, 2020, a purported representative action was brought against us in the High Court of Justice for England and Wales on behalf of an alleged claimant class of English and Welsh residents alleging breaches of the General Data Protection Regulation and/or the U.K. Data Protection Act 2018 (the “U.K. DPA”) in connection with the Data Security Incident. We dispute all of the allegations in this purported action and will vigorously defend against any such claims. On November 5, 2020, the court issued an order with the consent of all parties staying this action pending resolution of another case raising similar issues, but not involving the Company. That other case was decided by the U.K. Supreme Court on November 10, 2021 and we are assessing next steps in light of the decision. In addition, numerous U.S. federal, U.S. state and foreign governmental authorities made inquiries, opened investigations, or requested information and/or documents related to the Data Security Incident and related matters, including Attorneys General offices from all 50 states and the District of Columbia, the Federal Trade Commission, the Securities and Exchange Commission, certain committees of the U.S. Senate and House of Representatives, the Information Commissioner’s Office in the United Kingdom (the “ICO”) as lead supervisory authority in the European Economic Area, and regulatory authorities in various other jurisdictions. With the exception of the ICO proceeding, which was resolved in October 2020, these matters generally remain open. We are in discussions with the U.S. state Attorneys General, the U.S. Federal Trade Commission, and certain regulatory authorities in other jurisdictions to resolve their investigations and requests. While we believe it is reasonably possible that we may incur additional losses associated with the above described proceedings and investigations related to the Data Security Incident, it is not possible to estimate the amount of loss or range of loss, if any, in excess of the amounts already incurred that might result from adverse judgments, settlements, fines, penalties or other resolution of these proceedings and investigations based on the current stage of these proceedings and investigations, the absence of specific allegations as to alleged damages, the uncertainty as to the certification of a class or classes and the size of any certified class, if applicable, and/or the lack of resolution of significant factual and legal issues.

LEASES

LEASES	12 Months Ended
	Dec. 31, 2021
Leases [Abstract]
LEASES	LEASES We enter into operating and finance leases primarily for hotels, offices, and equipment. Most leases have initial terms of up to 20 years, and contain one or more renewals at our option, generally for five The following table details the composition of lease expense for 2021, 2020, and 2019: ($ in millions) 2021 2020 2019 Operating lease cost $ 149 $ 157 $ 185 Variable lease cost 51 60 113 We recorded impairment charges of $116 million in 2020 and $99 million in 2019 in the “Depreciation, amortization, and other” caption of our Income Statements to reduce the carrying amount of certain U.S. & Canada hotel leases right-of-use assets and property and equipment, including leasehold improvements. The impairment charges recorded in 2020 were due to the impact of COVID-19. We determined that we may not be able to fully recover the carrying amount of these U.S. & Canada hotel leases after evaluating the assets for recovery due to declines in market performance and future cash flow projections. We estimated the fair value using an income approach reflecting internally developed Level 3 discounted cash flows that included, among other things, our expectations of future cash flows based on historical experience and projected growth rates, usage estimates and demand trends. Additionally, during the year ended 2019, we recorded an expense of $34 million in the “Restructuring and merger-related charges” caption of our Income Statements due to the impairment of a Legacy-Starwood office building accounted for as a finance lease. The following table presents our future minimum lease payments at year-end 2021: ($ in millions) Operating Leases Finance Leases 2022 $ 191 $ 13 2023 150 14 2024 141 14 2025 133 14 2026 109 15 Thereafter 942 122 Total minimum lease payments $ 1,666 $ 192 Less: Amount representing interest 418 46 Present value of minimum lease payments $ 1,248 $ 146 The following table presents the composition of our current and noncurrent lease liability at year-end 2021 and 2020: ($ in millions) December 31, 2021 December 31, 2020 Operating Leases Finance Leases Operating Leases Finance Leases Current (1) $ 150 $ 7 $ 147 $ 7 Noncurrent (2) 1,098 139 823 146 $ 1,248 $ 146 $ 970 $ 153 (1) Operating leases are recorded in the “ Accrued expenses and other Current portion of long-term debt (2) Operating leases are recorded in the “Operating lease liabilities” and finance leases are recorded in the “ Long-term debt The following table presents additional information about our lease obligations at year-end 2021 and 2020: 2021 2020 Operating leases Finance leases Operating leases Finance leases Weighted Average Remaining Lease Term (in years) 14 12 10 13 Weighted Average Discount Rate 4.2 % 4.4 % 4.6 % 4.4 % The following table presents supplemental cash flow information for 2021 and 2020: ($ in millions) 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflows for operating leases $ 181 $ 162 Lease assets obtained in exchange for lease obligations: Operating leases 463 35
LEASES	LEASES We enter into operating and finance leases primarily for hotels, offices, and equipment. Most leases have initial terms of up to 20 years, and contain one or more renewals at our option, generally for five The following table details the composition of lease expense for 2021, 2020, and 2019: ($ in millions) 2021 2020 2019 Operating lease cost $ 149 $ 157 $ 185 Variable lease cost 51 60 113 We recorded impairment charges of $116 million in 2020 and $99 million in 2019 in the “Depreciation, amortization, and other” caption of our Income Statements to reduce the carrying amount of certain U.S. & Canada hotel leases right-of-use assets and property and equipment, including leasehold improvements. The impairment charges recorded in 2020 were due to the impact of COVID-19. We determined that we may not be able to fully recover the carrying amount of these U.S. & Canada hotel leases after evaluating the assets for recovery due to declines in market performance and future cash flow projections. We estimated the fair value using an income approach reflecting internally developed Level 3 discounted cash flows that included, among other things, our expectations of future cash flows based on historical experience and projected growth rates, usage estimates and demand trends. Additionally, during the year ended 2019, we recorded an expense of $34 million in the “Restructuring and merger-related charges” caption of our Income Statements due to the impairment of a Legacy-Starwood office building accounted for as a finance lease. The following table presents our future minimum lease payments at year-end 2021: ($ in millions) Operating Leases Finance Leases 2022 $ 191 $ 13 2023 150 14 2024 141 14 2025 133 14 2026 109 15 Thereafter 942 122 Total minimum lease payments $ 1,666 $ 192 Less: Amount representing interest 418 46 Present value of minimum lease payments $ 1,248 $ 146 The following table presents the composition of our current and noncurrent lease liability at year-end 2021 and 2020: ($ in millions) December 31, 2021 December 31, 2020 Operating Leases Finance Leases Operating Leases Finance Leases Current (1) $ 150 $ 7 $ 147 $ 7 Noncurrent (2) 1,098 139 823 146 $ 1,248 $ 146 $ 970 $ 153 (1) Operating leases are recorded in the “ Accrued expenses and other Current portion of long-term debt (2) Operating leases are recorded in the “Operating lease liabilities” and finance leases are recorded in the “ Long-term debt The following table presents additional information about our lease obligations at year-end 2021 and 2020: 2021 2020 Operating leases Finance leases Operating leases Finance leases Weighted Average Remaining Lease Term (in years) 14 12 10 13 Weighted Average Discount Rate 4.2 % 4.4 % 4.6 % 4.4 % The following table presents supplemental cash flow information for 2021 and 2020: ($ in millions) 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflows for operating leases $ 181 $ 162 Lease assets obtained in exchange for lease obligations: Operating leases 463 35

LONG-TERM DEBT

LONG-TERM DEBT	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
LONG-TERM DEBT	LONG-TERM DEBT We provide detail on our long-term debt balances, net of discounts, premiums, and debt issuance costs, in the following table at year-end 2021 and 2020: ($ in millions) At Year-End 2021 At Year-End 2020 Senior Notes: Series L Notes, interest rate of 3.3%, face amount of $173, maturing September 15, 2022 (effective interest rate of 3.4%) $ 173 $ 173 Series N Notes, interest rate of 3.1%, face amount of $400, redeemed August 9, 2021 (effective interest rate of 3.4%) — 399 Series O Notes, interest rate of 2.9%, face amount of $450, matured March 1, 2021 (effective interest rate of 3.1%) — 450 Series P Notes, interest rate of 3.8%, face amount of $350, maturing October 1, 2025 (effective interest rate of 4.0%) 347 346 Series Q Notes, interest rate of 2.3%, face amount of $399, matured January 15, 2022 (effective interest rate of 2.5%) 399 398 Series R Notes, interest rate of 3.1%, face amount of $750, maturing June 15, 2026 (effective interest rate of 3.3%) 746 745 Series U Notes, interest rate of 3.1%, face amount of $291, maturing February 15, 2023 (effective interest rate of 3.1%) 291 291 Series V Notes, interest rate of 3.8%, face amount of $318, maturing March 15, 2025 (effective interest rate of 2.8%) 327 330 Series W Notes, interest rate of 4.5%, face amount of $278, maturing October 1, 2034 (effective interest rate of 4.1%) 290 290 Series X Notes, interest rate of 4.0%, face amount of $450, maturing April 15, 2028 (effective interest rate of 4.2%) 445 445 Series Z Notes, interest rate of 4.2%, face amount of $350, maturing December 1, 2023 (effective interest rate of 4.4%) 349 348 Series AA Notes, interest rate of 4.7%, face amount of $300, maturing December 1, 2028 (effective interest rate of 4.8%) 297 297 Series BB Notes, floating rate, face amount of $300, matured March 8, 2021 — 300 Series CC Notes, interest rate of 3.6%, face amount of $550, maturing April 15, 2024 (effective interest rate of 3.9%) 566 586 Series DD Notes, interest rate of 2.1%, face amount of $224, maturing October 3, 2022 (effective interest rate of 1.2%) 226 228 Series EE Notes, interest rate of 5.8%, face amount of $600, maturing May 1, 2025 (effective interest rate of 6.0%) 595 1,583 Series FF Notes, interest rate of 4.6%, face amount of $1,000, maturing June 15, 2030 (effective interest rate of 4.8%) 987 986 Series GG Notes, interest rate of 3.5%, face amount of $1,000, maturing October 15, 2032 (effective interest rate of 3.7%) 986 985 Series HH Notes, interest rate of 2.9%, face amount of $1,100, maturing April 15, 2031 (effective interest rate of 3.0%) 1,090 — Series II Notes, interest rate of 2.8%, face amount of $700, maturing October 15, 2033 (effective interest rate of 2.8%) 693 — Credit Facility 1,050 900 Finance lease obligations 146 153 Other 135 143 $ 10,138 $ 10,376 Less current portion (805) (1,173) $ 9,333 $ 9,203 All our long-term debt is recourse to us but unsecured. All the Senior Notes shown in the table above are our unsecured and unsubordinated obligations, which rank equally with our other Senior Notes and all other unsecured and unsubordinated indebtedness that we have issued or will issue from time to time, and are governed by the terms of an indenture, dated as of November 16, 1998, between us and The Bank of New York Mellon (formerly The Bank of New York), as trustee. We may redeem some or all of each series of the Senior Notes before maturity under the terms provided in the applicable form of Senior Note. In January 2022, we made a $404 million cash payment of principal and interest to retire, at maturity, all of our outstanding Series Q Notes. In September 2021, we completed a tender offer (the “Tender Offer”) and purchased and retired $1 billion aggregate principal amount of our 5.750 percent Series EE Notes maturing May 1, 2025. We used the net proceeds from our Series II Notes offering described below and cash on hand to complete the repurchase of such Series EE Notes, including the payment of accrued interest and other costs incurred. As a result of the Tender Offer, in the 2021 third quarter, we recorded a loss of $164 million in the “Loss on extinguishment of debt” caption of our Income Statements. In September 2021, we issued $700 million aggregate principal amount of 2.750 percent Series II Notes due October 15, 2033 (the “Series II Notes”). We will pay interest on the Series II Notes in April and October of each year, commencing in April 2022. We received net proceeds of approximately $693 million from the offering of the Series II Notes, after deducting the underwriting discount and estimated expenses. We used the net proceeds to fund the Tender Offer, as further described above. In August 2021, we redeemed all $400 million aggregate principal amount of our Series N Notes due in October 2021. In March 2021, we issued $1.1 billion aggregate principal amount of 2.850 percent Series HH Notes due April 15, 2031 (the “Series HH Notes”). We pay interest on the Series HH Notes in April and October of each year. We received net proceeds of approximately $1.089 billion from the offering of the Series HH Notes, after deducting the underwriting discount and estimated expenses, which were made available for general corporate purposes, including the repayment of a portion of our outstanding borrowings under the Credit Facility . We are party to a multicurrency revolving credit agreement (as amended, the “Credit Facility”) that provides for up to $4.5 billion of aggregate borrowings for general corporate needs, including working capital, capital expenditures, letters of credit, acquisitions, and to support our commercial paper program if and when we resume issuing commercial paper. 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. We classify outstanding borrowings under the Credit Facility and outstanding commercial paper borrowings (if any) as long-term based on our ability and intent to refinance the outstanding borrowings on a long-term basis. The Credit Facility expires on June 28, 2024. In 2021, we made borrowings of $1.7 billion and repayments of $1.5 billion. Our total outstanding borrowings under the Credit Facility were $1.1 billion as of year-end 2021. We entered into amendments to the Credit Facility in April 2020 and January 2021 (the “Credit Facility Amendments”). The debt leverage covenant in the Credit Facility, which is tested each quarter and was waived pursuant to the Credit Facility Amendments through and including the fourth quarter of 2021, resumes beginning with the quarter ending March 31, 2022. The Credit Facility Amendments adjusted the required leverage levels for this covenant when it is re-imposed (starting at 5.50 to 1.00 for the test period ending on March 31, 2022 and gradually stepping down to 4.00 to 1.00 over the succeeding five fiscal quarters, as further described in the Credit Facility). The Credit Facility Amendments also amended certain other terms of the Credit Facility, including reducing the rate floor for the LIBOR Daily Floating Rate and the Eurocurrency Rate. The following table presents future principal payments, net of discounts, premiums, and debt issuance costs, for our debt at year-end 2021: Debt Principal Payments ($ in millions) Amount 2022 $ 805 2023 683 2024 1,624 2025 1,311 2026 756 Thereafter 4,959 Balance at year-end 2021 $ 10,138

INTANGIBLE ASSETS AND GOODWILL

INTANGIBLE ASSETS AND GOODWILL	12 Months Ended
	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS AND GOODWILL	INTANGIBLE ASSETS AND GOODWILL The following table details the composition of our intangible assets at year-end 2021 and 2020: ($ in millions) At Year-End 2021 At Year-End 2020 Definite-lived Intangible Assets Costs incurred to obtain contracts with customers $ 1,875 $ 1,674 Contracts acquired in business combinations and other 2,187 2,257 4,062 3,931 Accumulated amortization (1,052) (937) 3,010 2,994 Indefinite-lived Intangible Brand Assets 5,916 5,995 $ 8,926 $ 8,989 We capitalize direct costs that we incur to obtain management, franchise, and license agreements. We amortize these costs on a straight-line basis over the initial term of the agreements, ranging from 15 to 30 years. In 2020, we recorded impairment charges totaling $64 million in the “Contract investment amortization” caption of our Income Statements to reduce the carrying amount of certain capitalized costs incurred to obtain contracts with customers, primarily due to the impact of COVID-19, most of which we recorded in our U.S. & Canada business segment. For contracts acquired in business combinations and other intangible assets, we recorded amortization expense of $165 million in 2021, $97 million in 2020, and $105 million in 2019 (of which $62 million in 2021 and none in 2020 and 2019 was included in the “Reimbursed expenses” caption of our Income Statements). For these assets, we estimate that our aggregate amortization expense will be $163 million in 2022, $147 million in 2023, $134 million in 2024, $122 million in 2025, and $110 million in 2026. The following table details the carrying amount of our goodwill at year-end 2021 and 2020: ($ in millions) U.S. & Canada International Total Balance at year-end 2020 $ 5,347 $ 3,828 $ 9,175 Foreign currency translation 1 (103) (102) Balance at year-end 2021 $ 5,348 $ 3,725 $ 9,073

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT	12 Months Ended
	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT	PROPERTY AND EQUIPMENT The following table presents the composition of our property and equipment balances at year-end 2021 and 2020: ($ in millions) At Year-End 2021 At Year-End 2020 Land $ 686 $ 688 Buildings and leasehold improvements 985 1,045 Furniture and equipment 545 640 Construction in progress 137 29 2,353 2,402 Accumulated depreciation (850) (888) $ 1,503 $ 1,514 three

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	12 Months Ended
	Dec. 31, 2021
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: At Year-End 2021 At Year-End 2020 ($ in millions) Carrying Fair Value Carrying Fair Value Senior, mezzanine, and other loans $ 144 $ 131 $ 159 $ 142 Total noncurrent financial assets $ 144 $ 131 $ 159 $ 142 Senior Notes $ (8,009) $ (8,480) $ (8,031) $ (8,941) Credit Facility (1,050) (1,050) (900) (900) Other long-term debt (135) (140) (126) (128) Other noncurrent liabilities (414) (414) (426) (426) Total noncurrent financial liabilities $ (9,608) $ (10,084) $ (9,483) $ (10,395) We estimate the fair value of our senior, mezzanine, and other loans by discounting cash flows using risk-adjusted rates, both of 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. When we have outstanding commercial paper, we use pricing from recent transactions as Level 2 inputs in estimating fair value. The carrying value of our Credit Facility borrowings approximate fair value because they bear interest at a market rate. We estimate the fair value of our other long-term debt, excluding leases, using expected future payments discounted at risk-adjusted rates, which are Level 3 inputs. Our other noncurrent liabilities consist of guarantees. As we note in the “Guarantees” caption of Note 2, we measure our liability for guarantees at fair value on a nonrecurring basis, which is when we issue or modify a guarantee using Level 3 internally developed inputs. At year-end 2021 and year-end 2020, 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 Note 2 for more information on the input levels we use in determining fair value.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE LOSS	12 Months Ended
	Dec. 31, 2021
Equity [Abstract]
ACCUMULATED OTHER COMPREHENSIVE LOSS	ACCUMULATED OTHER COMPREHENSIVE LOSS The following table details the accumulated other comprehensive loss activity for 2021, 2020, and 2019: ($ in millions) Foreign Currency Translation Adjustments Derivative Instrument and Other Adjustments Accumulated Other Comprehensive Loss Balance at year-end 2018 $ (403) $ 12 $ (391) Other comprehensive income before reclassifications (1) 35 2 37 Reclassification adjustments — (7) (7) Net other comprehensive income (loss) 35 (5) 30 Balance at year-end 2019 $ (368) $ 7 $ (361) Other comprehensive income before reclassifications (1) 229 7 236 Reclassification adjustments — (10) (10) Net other comprehensive income (loss) 229 (3) 226 Balance at year-end 2020 $ (139) $ 4 $ (135) Other comprehensive (loss) income before reclassifications (1) (212) 5 (207) Reclassification adjustments — — — Net other comprehensive (loss) income (212) 5 (207) Balance at year-end 2021 $ (351) $ 9 $ (342) (1) Other comprehensive income (loss) before reclassifications for foreign currency translation adjustments includes intra-entity foreign currency transactions that are of a long-term investment nature, which resulted in gains (losses) of $40 million for 2021, $(44) million for 2020, and $6 million for 2019.

BUSINESS SEGMENTS

BUSINESS SEGMENTS	12 Months Ended
	Dec. 31, 2021
Segment Reporting [Abstract]
BUSINESS SEGMENTS	BUSINESS SEGMENTS Beginning in the 2021 first quarter, we modified our segment structure due to a change in the way our chief operating decision maker evaluates results and allocates resources within the Company, resulting in the following two operating segments, both of which meet the applicable accounting criteria for separate disclosure as a reportable business segment: United States and Canada (“U.S. & Canada”) and International. We revised the prior period amounts shown in the tables below to conform to our current presentation. We evaluate the performance of our operating segments using “segment profits/loss” which is based largely on the results of the segment without allocating corporate expenses, income taxes, indirect general, administrative, and other expenses, merger-related costs, or most above-property restructuring charges. We assign gains and losses, equity in earnings or losses, direct general, administrative, and other expenses, and other restructuring charges to each of our segments. “Unallocated corporate and other” includes a portion of our revenues (including license fees we receive from our credit card programs and fees from vacation ownership licensing agreements), revenues and expenses for our Loyalty Program, general, administrative, and other expenses, restructuring and merger-related charges, equity in earnings or losses, and other gains or losses that we do not allocate to our segments. 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 The following table presents our revenues disaggregated by segment and major revenue stream for the last three fiscal years: 2021 2020 2019 ($ in millions) U.S. & Canada International Total U.S. & Canada International Total U.S. & Canada International Total Gross fee revenues $ 1,580 $ 568 $ 2,148 $ 914 $ 338 $ 1,252 $ 2,265 $ 1,032 $ 3,297 Contract investment amortization (55) (20) (75) (108) (24) (132) (48) (14) (62) Net fee revenues 1,525 548 2,073 806 314 1,120 2,217 1,018 3,235 Owned, leased, and other revenue 282 467 749 198 317 515 715 841 1,556 Cost reimbursement revenue 8,549 1,239 9,788 6,901 966 7,867 13,901 1,685 15,586 Total reportable segment revenue $ 10,356 $ 2,254 $ 12,610 $ 7,905 $ 1,597 $ 9,502 $ 16,833 $ 3,544 $ 20,377 Unallocated corporate and other 1,247 1,069 595 Total revenue $ 13,857 $ 10,571 $ 20,972 Revenues attributed to operations located outside the U.S. were $2,615 million in 2021, $1,910 million in 2020, and $4,400 million in 2019, including cost reimbursement revenue outside the U.S. of $1,553 million in 2021, $1,247 million in 2020, and $2,394 million in 2019. Segment Profits and Losses ($ in millions) 2021 2020 2019 U.S. & Canada (1) $ 1,394 $ 198 $ 2,000 International (2) 258 (222) 804 Unallocated corporate and other (80) (24) (837) Interest expense, net of interest income (392) (418) (368) (Provision) benefit for income taxes (81) 199 (326) Net income (loss) $ 1,099 $ (267) $ 1,273 (1) Includes cost reimbursements, net of $51 million in 2021, $(80) million in 2020, and $(129) million in 2019. (2) Includes cost reimbursements, net of $14 million in 2021, $(55) million in 2020, and $(18) million in 2019. Segment profits (losses) attributed to operations located outside the U.S. were $297 million in 2021, $(198) million in 2020, and $982 million in 2019, including cost reimbursements, net (cost reimbursement revenue, net of reimbursed expenses) outside the U.S. of $14 million in 2021, $(62) million in 2020, and $(18) million in 2019. Depreciation, Amortization, and Other ($ in millions) 2021 2020 2019 U.S. & Canada $ 92 $ 209 $ 218 International 106 113 96 Unallocated corporate and other 22 24 27 $ 220 $ 346 $ 341 Capital Expenditures ($ in millions) 2021 2020 2019 U.S. & Canada $ 13 $ 12 $ 287 International 12 17 166 Unallocated corporate and other 158 106 200 $ 183 $ 135 $ 653

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2021
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS Equity Method Investments We have equity method investments in entities that own or lease properties for which we provide management services and receive fees. In addition, in some cases we provide loans, preferred equity, or guarantees to these entities. The following table presents Income Statement data resulting from transactions with these related parties. This table does not include our Financial Statement captions with insignificant related party activity. ($ in millions) 2021 2020 2019 Cost reimbursement revenue $ 104 $ 107 $ 233 Reimbursed expenses (105) (110) (236) Equity in (losses) earnings (24) (141) 13 Summarized Financial Information for Investees The following tables present summarized financial information for the entities in which we have equity method investments: ($ in millions) 2021 2020 2019 Sales $ 283 $ 259 $ 815 Net (loss) income (37) (212) 80 ($ in millions) At Year-End 2021 At Year-End 2020 Total Assets (primarily composed of hotel real estate managed by us) $ 1,229 $ 2,348 Total Liabilities 865 1,623 The carrying amount of our equity method investments was $387 million at year-end 2021 and $422 million at year-end 2020. This value exceeded our share of the book value of the investees’ net assets by $257 million at year-end 2021 and $294 million at year-end 2020, primarily due to the value that we assigned to land, contracts, and buildings owned by the investees. In 2020, we recorded impairment charges of $77 million in the “Equity in (losses) earnings” caption of our Income Statements to reduce the carrying amount of certain investments, primarily due to the impact of COVID-19, most of which we recorded in our U.S. & Canada business segment. Other Related Parties We earned management fees of approximately $6 million in 2021, $3 million in 2020, and $12 million in 2019, plus reimbursement of certain expenses, from our operation of properties in which JWM Family Enterprises, L.P., which is beneficially owned and controlled by J.W. Marriott, Jr., Deborah Marriott Harrison, David S. Marriott, and other members of the Marriott family, indirectly holds varying percentages of ownership. We earned gross fee revenues of approximately $1 million in 2021, plus reimbursement of certain expenses, and no revenues in 2020 and 2019 from managed and franchised properties in which other members of the Marriott family hold varying interests.

RELATIONSHIP WITH MAJOR CUSTOME

RELATIONSHIP WITH MAJOR CUSTOMER	12 Months Ended
	Dec. 31, 2021
Relationship with Major Customer Disclosure [Abstract]
RELATIONSHIP WITH MAJOR CUSTOMER	RELATIONSHIP WITH MAJOR CUSTOMERHost Hotels & Resorts, Inc., formerly known as Host Marriott Corporation, and its affiliates (“Host”) owned or leased 56 lodging properties at year-end 2021 and 59 at year-end 2020 that we operated or franchised. Over the last three years, we recognized revenues, including cost reimbursement revenue, of $1,192 million in 2021, $1,037 million in 2020, and $2,406 million in 2019 from those lodging properties, and included those revenues in our U.S. & Canada and International reportable business segments.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Basis of Presentation	In order to make this report easier to read, we also refer throughout to (1) our Consolidated Financial Statements as our “Financial Statements,” (2) our Consolidated Statements of Income (Loss) as our “Income Statements,” (3) our Consolidated Balance Sheets as our “Balance Sheets,” (4) our Consolidated Statements of Cash Flows as our “Statements of Cash Flows,” (5) our properties, brands, or markets in the United States and Canada as “U.S. & Canada,” and (6) our properties, brands, or markets in our Caribbean and Latin America, Europe, Middle East and Africa, Greater China, and Asia Pacific excluding China regions, as “International.” In addition, references throughout to numbered “Notes” refer to these Notes to Consolidated Financial Statements, unless otherwise stated. Preparation of financial statements that conform with U.S. generally accepted accounting principles (“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. The uncertainty created by the coronavirus pandemic and efforts to contain it (“COVID-19”) has made such estimates more difficult and subjective. 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 at fiscal year-end 2021 and fiscal year-end 2020 and the results of our operations and cash flows for fiscal years 2021, 2020, and 2019. We have eliminated all material intercompany transactions and balances between entities consolidated in these Financial Statements.
Revenue	Base Management and Incentive Management Fees : For our managed hotels, we have performance obligations to provide hotel management services and a license to our intellectual property for the use of our brand names. As compensation for such services, we are generally entitled to receive base fees, which are a percentage of the revenues of hotels, and incentive management fees, which are generally based on a measure of hotel profitability. Both the base and incentive management fees are variable consideration, as the transaction price is based on a percentage of revenue or profit, as defined in each contract. We recognize base management fees on a monthly basis over the term of the agreement as those amounts become payable. We recognize incentive management fees on a monthly basis over the term of the agreement based on each property’s financial results, as long as we do not expect a significant reversal due to projected future hotel performance or cash flows in future periods. Franchise Fee and Royalty Fee Revenue : For our franchised hotels, we have a performance obligation to provide franchisees and operators a license to our intellectual property for use of certain of our brand names. As compensation for such services, we are typically entitled to initial application fees and ongoing royalty fees. Our ongoing royalty fees represent variable consideration, as the transaction price is based on a percentage of certain revenues of the hotels, as defined in each contract. We recognize royalty fees on a monthly basis over the term of the agreement as those amounts become payable. Initial application and relicensing fees are fixed consideration payable upon submission of a franchise application or renewal and are recognized on a straight-line basis over the initial or renewal term of the franchise agreements. Owned and Leased Hotel Revenue : At our owned and leased hotels, we have performance obligations to provide accommodations and other ancillary services to hotel guests. As compensation for such goods and services, we are typically entitled to a fixed nightly fee for an agreed upon period and additional fixed fees for any ancillary services purchased. These fees are generally payable at the time the hotel guest checks out of the hotel. We generally satisfy the performance obligations over time, and we recognize the revenue from room sales and from other ancillary guest services on a daily basis, as the rooms are occupied and we have rendered the services. Cost Reimbursements : Under our management and franchise agreements, we are entitled to be reimbursed for certain costs we incur on behalf of the managed, franchised, and licensed properties, with no added mark-up. These costs primarily consist of payroll and related expenses at managed properties where we are the employer of the employees at the properties and include certain operational and administrative costs as provided for in our contracts with the owners. We are entitled to reimbursement in the period we incur the related reimbursable costs, which we recognize within the “Cost reimbursement revenue” caption of our Income Statements. Under our management and franchise agreements, hotel owners and franchisees participate in certain centralized programs and services, such as marketing, sales, reservations, and insurance programs. We operate these programs and services for the benefit of our hotel owners. We do not operate these programs and services to generate a profit over the long term, and accordingly, when we recover the costs that we incur for these programs and services from our hotel owners, we do not seek a mark-up. The amounts we charge for these programs and services are generally a combination of fixed fees and variable fees based on sales or other metrics and are payable on a monthly basis. We generally recognize revenue within the “Cost reimbursement revenue” caption of our Income Statements when the amounts may be billed to hotel owners, and we recognize expenses within the “Reimbursed expenses” caption as they are incurred. This pattern of recognition results in timing differences between the costs incurred for centralized programs and services and the related reimbursement from hotel owners in our operating and net income. Over the long term, these programs and services are not designed to impact our economics, either positively or negatively. In addition, we present in the “Reimbursed expenses” caption of our Income Statements spending funded by the proceeds ($664 million, $425 million after-tax) from the 2017 sale of our interest in Avendra LLC, which we committed would be used for the benefit of hotels in our system. Such spending totaled $56 million ($42 million after-tax) in 2021, $62 million ($46 million after-tax) in 2020, and $118 million ($87 million after-tax) in 2019. Other Revenue : Includes Global Design fees, which we describe below, termination fees, and other property and brand revenues. We generally recognize termination fees when collection is probable and other revenue as services are rendered. Amounts received in advance are deferred as liabilities. We provide certain hotel design and construction review (“Global Design”) services to our managed and franchised hotel owners, generally during the period prior to a hotel’s opening or during the period a hotel is converting to a Marriott brand (the “pre-opening period”). As compensation for such services, we may be entitled to receive a one-time fixed fee that is payable during the pre-opening period of the hotel. As these services are not a distinct performance obligation, we recognize the fees on a straight-line basis over the initial term of the management or franchise agreement within the “Owned, leased, and other revenue” caption of our Income Statements. Practical Expedients and Exemptions : We do not disclose the amount of variable consideration that we expect to recognize in future periods in the following circumstances: (1) if we recognize the revenue based on the amount invoiced or services performed; (2) for sales-based or usage-based royalty promised in exchange for a license of intellectual property; or (3) if the consideration is allocated entirely to a wholly unsatisfied promise to transfer a distinct service that forms part of a single performance obligation, and the terms of the consideration relate specifically to our efforts to transfer, or to a specific outcome from transferring the service. We are required to collect certain taxes and fees from customers on behalf of governmental agencies and remit these to the applicable governmental agencies on a periodic basis. We do not include these taxes in determining the transaction price. We have multi-year agreements for our co-brand credit cards associated with our Loyalty Program. Under these agreements, we have performance obligations to provide a license to the intellectual property associated with our brands and marketing lists (“Licensed IP”) to the financial institutions that issue the credit cards, to arrange for the redemption of Loyalty Program points as discussed in the preceding paragraph, and to arrange for the redemption of free night certificates provided to cardholders. We receive fees from these agreements, including fixed amounts that are primarily payable at contract inception, and variable amounts that are paid to us monthly over the term of the agreements, based on: (1) the number of free night certificates issued or redeemed; (2) the number of Loyalty Program points purchased; and (3) the volume of cardholder spend. We allocate those fees among the performance obligations, including the Licensed IP, our Loyalty Program points, and free night certificates provided to cardholders based on their estimated standalone selling prices. The estimation of the standalone selling prices requires significant judgments based upon generally accepted valuation methodologies regarding the value of our Licensed IP, the amount of funding we will receive, and the number of Loyalty Program points and free night certificates cardholders will redeem over the term of the agreements. We base our estimates of these amounts on our historical experience and expectation of future cardholder behavior. We recognize the portion of the Licensed IP revenue that meets the sales-based royalty criteria as the credit cards are used and the remaining portion of the Licensed IP revenue on a straight-line basis over the contract term. In our Income Statements, we primarily recognize Licensed IP revenue in the “Franchise fees” caption, and we recognize a portion in the “Cost reimbursement revenue” caption. We recognize the revenue related to the Loyalty Program points as discussed in the preceding paragraph. We recognize the revenue related to the free night certificates when the related service is provided. We recognize revenue net of the redemption cost, as our performance obligation is to facilitate the transaction between the Loyalty Program member and the managed or franchised property. Contract Balances : We generally receive payments from customers as we satisfy our performance obligations. We record a receivable when we have an unconditional right to receive payment and only the passage of time is required before payment is due. We record deferred revenue when we receive payment, or have the unconditional right to receive payment, in advance of the satisfaction of our performance obligations related to franchise application and relicensing fees, Global Design fees, credit card branding license fees, and our Loyalty Program. Current and noncurrent deferred revenue decreased by $340 million, to $1,527 million at December 31, 2021 from $1,867 million at December 31, 2020, primarily as a result of $334 million of revenue recognized in 2021 that was deferred as of December 31, 2020, as well as the reclassification from deferred revenue to the liability for guest loyalty program, which we discuss below. The decrease was partially offset by deferred cash received for free night certificates related to the co-brand credit cards and gift cards, as well as an increase in franchise application and relicensing fees. Our current deferred revenue, which we present in the “Accrued expenses and other” caption of our Balance Sheets, was $346 million at year-end 2021 and $325 million at year-end 2020. Our current and noncurrent liability for guest loyalty program increased by $200 million, to $6,471 million at December 31, 2021, from $6,271 million at December 31, 2020, primarily reflecting an increase in points earned by members. This includes a $228 million reclassification from deferred revenue to the liability for guest loyalty program as a result of points that were earned during the period by members using our U.S.-issued co-brand credit cards, which were prepaid by the financial institutions in 2020. The increase was partially offset by $1,966 million of revenue recognized in 2021, that was deferred as of December 31, 2020. The current portion of our liability for guest loyalty program increased compared to December 31, 2020, due to higher estimated redemptions in the short-term. At each reporting period, we evaluate the estimates used in the recognition of Loyalty Program revenues, including estimates of the breakage of points that members will never redeem and the amount of funding we expect to receive over the life of the agreements with various third parties. In 2021, the updated estimates resulted in a net increase in revenue, and a corresponding reduction in the liability for guest loyalty program of approximately $58 million.
Real Estate Sales	We recognize a gain or loss on real estate transactions when control of the asset transfers to the buyer, generally at the time the sale closes. In sales transactions where we retain a management contract, the terms and conditions of the management contract are generally comparable to the terms and conditions of the management contracts obtained directly with third-party owners in competitive processes.
Retirement Savings Plan	We contribute to tax-qualified retirement plans for the benefit of U.S. employees who meet certain eligibility requirements and choose to participate in the plans. Participating employees specify the percentage or amount of salary they wish to contribute from their compensation, and the Company typically makes discretionary and certain other matching or supplemental contributions.
Non-U.S. Operations	The U.S. dollar is the functional currency of our consolidated and unconsolidated entities operating in the U.S. The functional currency of our consolidated and unconsolidated entities operating outside of the U.S. is generally the principal currency of the economic environment in which the entity primarily generates and expends cash. We translate the financial statements of consolidated entities whose functional currency is not the U.S. dollar into U.S. dollars, and we do the same, as needed, for unconsolidated entities whose functional currency is not the U.S. dollar. We translate assets and liabilities at the exchange rate in effect as of the financial statement date and translate income statement accounts using the weighted average exchange rate for the period. We include translation adjustments from currency exchange and the effect of exchange rate changes on intercompany transactions of a long-term investment nature as a separate component of stockholders’ equity. We report gains and losses from currency exchange rate changes for intercompany receivables and payables that are not of a long-term investment nature, as well as for third-party transactions, currently in operating costs and expenses.
Stock-Based Compensation	Our stock-based compensation awards primarily consist of restricted stock units (“RSUs”). We measure compensation costs for our stock-based payment transactions at fair value based on the average of the high and low stock price on the grant date (discounted for the lack of marketability and dividends), and we recognize those costs in our Financial Statements over the vesting period during which the employee provides service in exchange for the award.
Advertising Costs	We expense costs to produce advertising as they are incurred and to communicate advertising as the communication occurs and record such amounts in reimbursed expenses to the extent undertaken on behalf of our owners and franchisees.
Income Taxes	We record the amounts of taxes payable or refundable for the current year, as well as deferred tax liabilities and assets for the future tax consequences of events we have recognized in our Financial Statements or tax returns, using judgment in assessing future profitability and the likely future tax consequences of those events. We base our estimates of deferred tax assets and liabilities on current tax laws, rates and interpretations, and, in certain cases, business plans and other expectations about future outcomes. We develop our estimates of future profitability based on our historical data and experience, industry projections, micro and macro general economic condition projections, and our expectations. We account for U.S. tax on Global Intangible Low-Taxed Income in the period incurred. We generally recognize the effect of the tax law changes in the period of enactment. Changes in existing tax laws and rates, their related interpretations, and the uncertainty generated by the current economic environment may affect the amounts of our deferred tax liabilities or the valuations of our deferred tax assets over time. Our accounting for deferred tax consequences represents management’s best estimate of future events that can be appropriately reflected in the accounting estimates.
Cash and Equivalents	We consider all highly liquid investments with an initial maturity of three months or less at date of purchase to be cash equivalents.
Accounts Receivable	Our accounts receivable primarily consist of amounts due from hotel owners with whom we have management and franchise agreements and include reimbursements of costs we incurred on behalf of managed and franchised properties. We record an allowance for credit losses measured over the contractual life of the instrument based on an assessment of historical collection activity and current and forecasted future economic conditions by region. Our allowance for credit losses was $187 million at December 31, 2021 and $207 million at December 31, 2020. The decrease during 2021 was primarily due to the write-off of amounts deemed uncollectible, partially offset by the provision for credit losses. Our provision for credit losses totaled $22 million in 2021 and $136 million in 2020.
Assets Held for Sale	We consider properties to be assets held for sale when (1) management commits to a plan to sell the property; (2) it is unlikely that the disposal plan will be significantly modified or discontinued; (3) the property is available for immediate sale in its present condition; (4) actions required to complete the sale of the property have been initiated; (5) sale of the property is probable and we expect the completed sale will occur within one year; and (6) the property is actively being marketed for sale at a price that is reasonable given our estimate of current market value. Upon designation of a property as an asset held for sale, we record the property’s value at the lower of its carrying value or its estimated fair value, less estimated costs to sell, and we cease depreciation.
Goodwill	We test goodwill for potential impairment at least annually in the fourth quarter, or more frequently if an event or other circumstance indicates that we may not be able to recover the carrying amount of the net assets of the reporting unit. In evaluating goodwill for impairment, we may assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. Factors we consider when making this determination include, but are not limited to, assessing general economic conditions, hospitality industry trends, and overall financial performance of the reporting unit. If we bypass the qualitative assessment, or if we conclude that it is more likely than not that the fair value of a reporting unit is less than its carrying value, then we perform a quantitative impairment test by comparing the fair value of a reporting unit with its carrying amount. We calculate the estimated fair value of a reporting unit using a combination of the income and market approaches. For the income approach, we use internally developed discounted cash flow models that include the following assumptions, among others: projections of revenues, expenses, and related cash flows based on assumed long-term growth rates and demand trends;
Intangibles and Long-Lived Assets	We assess indefinite-lived intangible assets for continued indefinite use and for potential impairment annually, or more frequently if an event or other circumstance indicates that we may not be able to recover the carrying amount of the asset. Like goodwill, we may first assess qualitative factors to determine whether it is more likely than not that the fair value of the indefinite-lived intangible is less than its carrying amount. If the carrying value of the asset exceeds the fair value, we recognize an impairment loss in the amount of that excess. We test definite-lived intangibles and long-lived asset groups for recoverability when changes in circumstances indicate that we may not be able to recover the carrying value; for example, when there are material adverse changes in projected revenues or expenses, significant underperformance relative to historical or projected operating results, or significant negative industry or economic trends. We also test recoverability when management has committed to a plan to sell or otherwise dispose of an asset group and we expect to complete the plan within a year. We evaluate recoverability of an asset group by comparing its carrying value, including right-of-use assets, to the future net undiscounted cash flows that we expect the asset group will generate. If the comparison indicates that we will not be able to recover the carrying value of an asset group, we recognize an impairment loss for the amount by which the carrying value exceeds the estimated fair value. When we recognize an impairment loss for assets to be held and used, we depreciate the adjusted carrying amount of those assets over their remaining useful life.
Investments	We hold equity interests in ventures established to develop or acquire and own hotel properties or that otherwise support our hospitality operations. We account for these investments as either an equity method investment, a financial asset, or a controlled subsidiary. We apply the equity method of accounting if we have significant influence over the entity, typically when we hold 20 percent or more of the voting common stock (or equivalent) of an investee but do not have a controlling financial interest. In certain circumstances, such as with investments in limited liability companies or limited partnerships, we apply the equity method of accounting when we own as little as three to five percent. We account for financial assets at fair value if it is readily determinable, or using the fair value alternative method, whereby investments are measured at cost less impairment, adjusted for observable price changes. We consolidate entities that we control. When we acquire an investment that qualifies for the equity method of accounting, we determine the acquisition date fair value of the identifiable assets and liabilities. If our carrying amount exceeds our proportional share in the equity of the investee, we amortize the difference on a straight-line basis over the underlying assets’ estimated useful lives when calculating equity method earnings attributable to us, excluding the difference attributable to land, which we do not amortize. We evaluate an investment for impairment when circumstances indicate that we may not be able to recover the carrying value. When evaluating our ventures, we consider loan defaults, significant underperformance relative to historical or projected operating performance, or significant negative industry or economic trends. Additionally, a venture’s commitment to a plan to sell some or all of its assets could cause us to evaluate the recoverability of the venture’s individual long-lived assets and possibly the venture itself. We impair investments we account for using the equity method of accounting when we determine that there has been an “other-than-temporary” decline in the venture’s estimated fair value compared to its carrying value. We perform qualitative assessments for investments we account for using the fair value alternative method and we record any associated impairment when the fair value is less than the carrying value. Under the accounting guidance for the consolidation of variable interest entities, we analyze our variable interests, including equity investments, loans, and guarantees, to determine if an entity in which we have a variable interest is a variable interest entity. Our analysis includes both quantitative and qualitative reviews. We base our quantitative analysis on the forecasted cash flows of the entity, and our qualitative analysis on our review of the design of the entity, its organizational structure including decision-making ability, and relevant financial agreements. We also use our qualitative analysis to determine if we must consolidate a variable interest entity as its primary beneficiary.
Fair Value Measurements	We have various financial instruments we must measure at fair value on a recurring basis, including certain marketable securities and derivatives. See Note 12 for further information. We also apply the provisions of fair value measurement to various nonrecurring measurements for our financial and nonfinancial assets and liabilities. Accounting standards define fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (an exit price). We measure our assets and liabilities using inputs from the following three levels of the fair value hierarchy: Level 1 inputs are unadjusted quoted prices in active markets for identical assets or liabilities that we have the ability to access at the measurement date. Level 2 inputs include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (i.e., interest rates, yield curves, etc.), and inputs that are derived principally from or corroborated by observable market data by correlation or other means (market corroborated inputs). Level 3 inputs include unobservable inputs that reflect our assumptions about what factors market participants would use in pricing the asset or liability. We develop these inputs based on the best information available, including our own data.
Derivative Instruments	We record derivatives at fair value. The designation of a derivative instrument as a hedge and its ability to meet the hedge accounting criteria determine how we reflect the change in fair value of the derivative instrument in our Financial Statements. A derivative qualifies for hedge accounting if, at inception, we expect the derivative will be highly effective in offsetting the underlying hedged cash flows or fair value and we fulfill the hedge documentation standards at the time we enter into the derivative contract. We designate a hedge as a cash flow hedge, fair value hedge, or a hedge of the net investment in non-U.S. operations based on the exposure we are hedging. For the effective portion of qualifying cash flow hedges, we record changes in fair value in accumulated other comprehensive income (“AOCI”). We release the derivative’s gain or loss from AOCI to match the timing of the underlying hedged items’ effect on earnings. The change in fair value of qualifying fair value hedges as well as changes in fair value of the underlying hedged items to the hedged risks are recorded concurrently in earnings. We review the effectiveness of our hedging instruments quarterly and discontinue hedge accounting for any hedge that we no longer consider to be highly effective. We recognize changes in fair value for derivatives not designated as hedges or those not qualifying for hedge accounting in current period earnings. Upon termination of cash flow hedges, we release gains and losses from AOCI based on the timing of the underlying cash flows or revenue recognized, unless the termination results from the failure of the intended transaction to occur in the expected time frame. Such untimely transactions require us to immediately recognize in earnings the gains and/or losses that we previously recorded in AOCI. Changes in interest rates, currency exchange rates, and equity securities expose us to market risk. We manage our exposure to these risks by monitoring available financing alternatives, as well as through development and application of credit granting policies. We also use derivative instruments as part of our overall strategy to manage our exposure to market risks. As a matter of policy, we only enter into transactions that we believe will be highly effective at offsetting the underlying risk, and we do not use derivatives for trading or speculative purposes.
Loan Loss Reserves	We may make senior, mezzanine, and other loans to owners of hotels that we operate or franchise, generally to facilitate the development or renovation of a hotel and sometimes to facilitate brand programs or initiatives. We expect the owners to repay the loans in accordance with the loan agreements, or earlier as the hotels mature and capital markets permit. We use metrics such as loan-to-value ratios and debt service coverage, and other information about collateral and from third-party rating agencies to assess the credit quality of the loan receivable, both upon entering into the loan agreement and on an ongoing basis as applicable. At inception and throughout the term of the loan agreement, we individually assess loans for impairment. We consider current and forecasted future economic conditions in addition to our historical experience. We use internally generated cash flow projections to determine the likelihood that the loans will be repaid under the terms of the loan agreements. To measure impairment, we calculate the present value of expected future cash flows discounted at the loan’s original effective interest rate or the estimated fair value of the collateral. If the present value or the estimated collateral is less than the carrying value of the loan receivable, we establish a specific impairment reserve for the difference.
Leases	We determine if an arrangement is a lease or contains a lease at the inception of the contract. We evaluate leases for classification as operating or financing upon lease commencement. Our leases generally contain fixed and variable components. The variable components of our leases are primarily based on operating performance of the leased property. Our lease agreements may also include non-lease components, such as common area maintenance, which we combine with the lease component to account for both as a single lease component. Lease liabilities, which represent our obligation to make lease payments arising from the lease, and corresponding right-of-use assets, which represent our right to use an underlying asset for the lease term, are recognized at the commencement date of the lease based on the present value of fixed future payments over the lease term. We calculate the present value of future payments using the discount rate implicit in the lease, if available, or our incremental borrowing rate. For operating leases, lease expense relating to fixed payments is recognized on a straight-line basis over the lease term and lease expense relating to variable payments is expensed as incurred. For finance leases, the amortization of the asset is recognized over the shorter of the lease term or useful life of the underlying asset.
Guarantees	We measure and record our liability for the fair value of a guarantee on a nonrecurring basis, that is when we issue or modify a guarantee, using Level 3 internally developed inputs, as described above in this footnote under the caption “Fair Value Measurements.” We base our calculation of the estimated fair value of a guarantee on the income approach or the market approach, depending on the type of guarantee. For the income approach, we use internally developed discounted cash flow and Monte Carlo simulation models that include the following assumptions, among others: projections of revenues and expenses and related cash flows based on assumed growth rates and demand trends; historical volatility of projected performance; the guaranteed obligations; and applicable discount rates. We base these assumptions on our historical data and experience, industry projections, micro and macro general economic condition projections, and our expectations. For the market approach, we use internal analyses based primarily on market comparable data and our assumptions about market capitalization rates, credit spreads, growth rates, and inflation. The offsetting entry for the guarantee liability depends on the circumstances in which the guarantee was issued. Funding under the guarantee reduces the recorded liability. In most cases, when we do not forecast any funding, we amortize the liability into income on a straight-line basis over the remaining term of the guarantee. On a quarterly basis, we evaluate all material estimated liabilities based on the operating results and the terms of the guarantee. If we conclude that it is probable that we will be required to fund a greater amount than previously estimated, we record a loss except to the extent that the applicable contracts provide that the advance can be recovered as a loan.
Self-Insurance Programs	We self-insure for certain levels of liability, workers’ compensation, property insurance and employee medical coverage. We accrue estimated costs of these self-insurance programs at the present value of projected settlements for known and incurred but not reported claims. We use a discount rate of two percent to determine the present value of the projected settlements, which we consider to be reasonable given our history of settled claims, including payment patterns and the fixed nature of the individual settlements. We classify the current portion of our self-insurance reserve in the “Accrued expenses and other” caption and the noncurrent portion in the “Other noncurrent liabilities” caption of our Balance Sheets.
Legal Contingencies	We are subject to various legal proceedings and claims, the outcomes of which are uncertain. We record an accrual for legal contingencies when we determine that it is probable that we have incurred a liability and we can reasonably estimate the amount of the loss. In making such determinations we evaluate, among other things, the probability of an unfavorable outcome and, when we believe it probable that a liability has been incurred, our ability to make a reasonable estimate of the loss. We review these accruals each reporting period and make revisions based on changes in facts and circumstances.
Business Combinations	We allocate the purchase price of an acquisition to the tangible and intangible assets acquired and liabilities assumed based on their estimated fair values at the acquisition date. We recognize as goodwill the amount by which the purchase price of an acquired entity exceeds the net of the fair values assigned to the assets acquired and liabilities assumed. In determining the fair values of assets acquired and liabilities assumed, we use various recognized valuation methods including the income and market approaches. Further, we make assumptions within certain valuation techniques, including discount rates, royalty rates, and the amount and timing of future cash flows. We record the net assets and results of operations of an acquired entity in our Financial Statements from the acquisition date. We initially perform these valuations based upon preliminary estimates and assumptions by management or independent valuation specialists under our supervision, where appropriate, and make revisions as estimates and assumptions are finalized. We expense acquisition-related costs as we incur them.
Asset Acquisitions	Acquisitions that do not meet the definition of a business are accounted for as asset acquisitions. We allocate the cost of the acquisition, including direct and incremental transaction costs, to the individual assets acquired and liabilities assumed on a relative fair value basis. Goodwill is not recognized in an asset acquisition.
Intangible Assets	We capitalize direct costs that we incur to obtain management, franchise, and license agreements. We amortize these costs on a straight-line basis over the initial term of the agreements, ranging from 15 to 30 years.
Property and Equipment, Capitalization and Useful Lives	We record property and equipment at cost, including interest and real estate taxes we incur during development and construction. We capitalize the cost of improvements that extend the useful life of property and equipment when we incur them. These capitalized costs may include structural costs, equipment, fixtures, floor, and wall coverings. We expense all repair and maintenance costs when we incur them. We compute depreciation using the straight-line method over the estimated useful lives of the assets (generally three

RESTRUCTURING CHARGES (Tables)

RESTRUCTURING CHARGES (Tables)	12 Months Ended
	Dec. 31, 2021
Restructuring and Related Activities [Abstract]
Restructuring Reserve Activity	The following table presents our restructuring liability activity during the period: ($ in millions) Employee termination benefits Balance at December 31, 2020 $ 143 Charges — Cash payments (122) Other (6) Balance at December 31, 2021, classified in “Accrued expenses and other” $ 15

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	12 Months Ended
	Dec. 31, 2021
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, the latter of which uses the treasury stock method in order to calculate the dilutive effect of the Company’s potential common stock: (in millions, except per share amounts) 2021 2020 2019 Computation of Basic Earnings Per Share Net income (loss) $ 1,099 $ (267) $ 1,273 Shares for basic earnings per share 327.2 325.8 332.7 Basic earnings (loss) per share $ 3.36 $ (0.82) $ 3.83 Computation of Diluted Earnings Per Share Net income (loss) $ 1,099 $ (267) $ 1,273 Shares for basic earnings per share 327.2 325.8 332.7 Effect of dilutive securities Stock-based compensation (1) 2.1 — 2.8 Shares for diluted earnings per share 329.3 325.8 335.5 Diluted earnings (loss) per share $ 3.34 $ (0.82) $ 3.80 (1) For the calculation of diluted loss per share for 2020, we excluded share-based compensation securities of 1.4 million because the effect was anti-dilutive.

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2021
Share-based Payment Arrangement [Abstract]
Additional Information on RSUs	The following table provides additional information on RSUs, including PSUs, for the last three fiscal years: 2021 2020 2019 Stock-based compensation expense (in millions) $ 171 $ 188 $ 177 Weighted average grant-date fair value (per unit) $ 141 $ 101 $ 117 Aggregate intrinsic value of distributed RSUs (in millions) $ 205 $ 234 $ 276
Changes in Outstanding RSU Grants	The following table presents the changes in our outstanding RSUs, including PSUs, during 2021 and the associated weighted average grant-date fair values: Number of RSUs (in millions) Weighted Average Grant-Date Fair Value (per unit) Outstanding at year-end 2020 5.8 $ 107 Granted 0.5 $ 141 Distributed (1.7) $ 113 Forfeited (0.2) $ 106 Outstanding at year-end 2021 4.4 $ 109

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Components of (Losses) Earnings Before Income Taxes	The components of our earnings (losses) before income taxes for the last three fiscal years consisted of: ($ in millions) 2021 2020 2019 U.S. $ 890 $ (320) $ 549 Non-U.S. 290 (146) 1,050 $ 1,180 $ (466) $ 1,599
Benefit (Provision) for Income Taxes	Our (provision) benefit for income taxes for the last three fiscal years consisted of: ($ in millions) 2021 2020 2019 Current -U.S. Federal $ 99 $ 9 $ (272) -U.S. State 24 (41) (57) -Non-U.S. (86) (78) (161) 37 (110) (490) Deferred -U.S. Federal (122) 180 141 -U.S. State (37) 81 39 -Non-U.S. 41 48 (16) (118) 309 164 $ (81) $ 199 $ (326)
Unrecognized Tax Benefits Reconciliation	The following table reconciles our unrecognized tax benefit balance for each year from the beginning of 2019 to the end of 2021: ($ in millions) Amount Unrecognized tax benefit at beginning of 2019 $ 623 Change attributable to tax positions taken in prior years (13) Change attributable to tax positions taken during the current period 13 Decrease attributable to settlements with taxing authorities (54) Unrecognized tax benefit at year-end 2019 569 Change attributable to tax positions taken in prior years (66) Change attributable to tax positions taken during the current period 4 Decrease attributable to settlements with taxing authorities (43) Unrecognized tax benefit at year-end 2020 464 Change attributable to tax positions taken in prior years (134) Change attributable to tax positions taken during the current period — Decrease attributable to settlements with taxing authorities (48) Unrecognized tax benefit at year-end 2021 $ 282
Schedule of Deferred Tax Assets and Liabilities	The following table presents the tax effect of each type of temporary difference and carry-forward that gave rise to significant portions of our deferred tax assets and liabilities as of year-end 2021 and year-end 2020: ($ in millions) At Year-End 2021 At Year-End 2020 Deferred Tax Assets Employee benefits $ 235 $ 262 Net operating loss carry-forwards 771 818 Accrued expenses and other reserves 191 214 Receivables, net 11 12 Tax credits 53 49 Loyalty Program 181 367 Deferred income 98 69 Lease liabilities 336 252 Interest Limitation 163 — Other 34 82 Deferred tax assets 2,073 2,125 Valuation allowance (984) (1,009) Deferred tax assets after valuation allowance 1,089 1,116 Deferred Tax Liabilities Equity method investments (40) (29) Property and equipment (9) (42) Intangibles (666) (663) Right-of-use assets (290) (197) Self-insurance (25) (19) Deferred tax liabilities (1,030) (950) Net deferred taxes $ 59 $ 166
Reconciliation of the U.S. Statutory Tax Rate to Effective Income Tax Rate	The following table reconciles the U.S. statutory tax rate to our effective income tax rate for the last three fiscal years: 2021 2020 2019 U.S. statutory tax rate 21.0 % 21.0 % 21.0 % U.S. state income taxes, net of U.S. federal tax benefit 2.7 3.8 1.6 Non-U.S. income (0.5) 12.5 (3.3) Change in valuation allowance (0.7) (20.0) 3.4 Change in uncertain tax positions (12.0) 12.2 1.9 Permanent items (0.5) 9.4 1.3 Tax on asset dispositions (0.7) 0.0 (0.7) Excess tax benefits related to equity awards (2.8) 6.4 (3.2) U.S. tax on foreign earnings 0.4 (3.0) 0.1 Other, net (0.1) 0.6 (1.7) Effective rate 6.8 % 42.9 % 20.4 %

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Dec. 31, 2021
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 our debt service, operating profit, and other guarantees (excluding contingent purchase obligations) for which we are the primary obligor at year-end 2021 in the following table: ($ in millions) Guarantee Type Maximum Potential Recorded Liability for Debt service $ 20 $ 5 Operating profit 189 118 Other 18 4 $ 227 $ 127

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Dec. 31, 2021
Leases [Abstract]
Composition of Lease Expense and Supplemental Cash Flows	The following table details the composition of lease expense for 2021, 2020, and 2019: ($ in millions) 2021 2020 2019 Operating lease cost $ 149 $ 157 $ 185 Variable lease cost 51 60 113 The following table presents supplemental cash flow information for 2021 and 2020: ($ in millions) 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflows for operating leases $ 181 $ 162 Lease assets obtained in exchange for lease obligations: Operating leases 463 35
Maturities of Finance Lease Liabilities	The following table presents our future minimum lease payments at year-end 2021: ($ in millions) Operating Leases Finance Leases 2022 $ 191 $ 13 2023 150 14 2024 141 14 2025 133 14 2026 109 15 Thereafter 942 122 Total minimum lease payments $ 1,666 $ 192 Less: Amount representing interest 418 46 Present value of minimum lease payments $ 1,248 $ 146
Maturities of Operating Lease Liabilities	The following table presents our future minimum lease payments at year-end 2021: ($ in millions) Operating Leases Finance Leases 2022 $ 191 $ 13 2023 150 14 2024 141 14 2025 133 14 2026 109 15 Thereafter 942 122 Total minimum lease payments $ 1,666 $ 192 Less: Amount representing interest 418 46 Present value of minimum lease payments $ 1,248 $ 146
Assets And Liabilities, Lessee	The following table presents the composition of our current and noncurrent lease liability at year-end 2021 and 2020: ($ in millions) December 31, 2021 December 31, 2020 Operating Leases Finance Leases Operating Leases Finance Leases Current (1) $ 150 $ 7 $ 147 $ 7 Noncurrent (2) 1,098 139 823 146 $ 1,248 $ 146 $ 970 $ 153 (1) Operating leases are recorded in the “ Accrued expenses and other Current portion of long-term debt (2) Operating leases are recorded in the “Operating lease liabilities” and finance leases are recorded in the “ Long-term debt
Lease Terms and Discount Rate	The following table presents additional information about our lease obligations at year-end 2021 and 2020: 2021 2020 Operating leases Finance leases Operating leases Finance leases Weighted Average Remaining Lease Term (in years) 14 12 10 13 Weighted Average Discount Rate 4.2 % 4.4 % 4.6 % 4.4 %

LONG-TERM DEBT (Tables)

LONG-TERM DEBT (Tables)	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Long-Term Debt	We provide detail on our long-term debt balances, net of discounts, premiums, and debt issuance costs, in the following table at year-end 2021 and 2020: ($ in millions) At Year-End 2021 At Year-End 2020 Senior Notes: Series L Notes, interest rate of 3.3%, face amount of $173, maturing September 15, 2022 (effective interest rate of 3.4%) $ 173 $ 173 Series N Notes, interest rate of 3.1%, face amount of $400, redeemed August 9, 2021 (effective interest rate of 3.4%) — 399 Series O Notes, interest rate of 2.9%, face amount of $450, matured March 1, 2021 (effective interest rate of 3.1%) — 450 Series P Notes, interest rate of 3.8%, face amount of $350, maturing October 1, 2025 (effective interest rate of 4.0%) 347 346 Series Q Notes, interest rate of 2.3%, face amount of $399, matured January 15, 2022 (effective interest rate of 2.5%) 399 398 Series R Notes, interest rate of 3.1%, face amount of $750, maturing June 15, 2026 (effective interest rate of 3.3%) 746 745 Series U Notes, interest rate of 3.1%, face amount of $291, maturing February 15, 2023 (effective interest rate of 3.1%) 291 291 Series V Notes, interest rate of 3.8%, face amount of $318, maturing March 15, 2025 (effective interest rate of 2.8%) 327 330 Series W Notes, interest rate of 4.5%, face amount of $278, maturing October 1, 2034 (effective interest rate of 4.1%) 290 290 Series X Notes, interest rate of 4.0%, face amount of $450, maturing April 15, 2028 (effective interest rate of 4.2%) 445 445 Series Z Notes, interest rate of 4.2%, face amount of $350, maturing December 1, 2023 (effective interest rate of 4.4%) 349 348 Series AA Notes, interest rate of 4.7%, face amount of $300, maturing December 1, 2028 (effective interest rate of 4.8%) 297 297 Series BB Notes, floating rate, face amount of $300, matured March 8, 2021 — 300 Series CC Notes, interest rate of 3.6%, face amount of $550, maturing April 15, 2024 (effective interest rate of 3.9%) 566 586 Series DD Notes, interest rate of 2.1%, face amount of $224, maturing October 3, 2022 (effective interest rate of 1.2%) 226 228 Series EE Notes, interest rate of 5.8%, face amount of $600, maturing May 1, 2025 (effective interest rate of 6.0%) 595 1,583 Series FF Notes, interest rate of 4.6%, face amount of $1,000, maturing June 15, 2030 (effective interest rate of 4.8%) 987 986 Series GG Notes, interest rate of 3.5%, face amount of $1,000, maturing October 15, 2032 (effective interest rate of 3.7%) 986 985 Series HH Notes, interest rate of 2.9%, face amount of $1,100, maturing April 15, 2031 (effective interest rate of 3.0%) 1,090 — Series II Notes, interest rate of 2.8%, face amount of $700, maturing October 15, 2033 (effective interest rate of 2.8%) 693 — Credit Facility 1,050 900 Finance lease obligations 146 153 Other 135 143 $ 10,138 $ 10,376 Less current portion (805) (1,173) $ 9,333 $ 9,203
Future Principal Payments for Debt	The following table presents future principal payments, net of discounts, premiums, and debt issuance costs, for our debt at year-end 2021: Debt Principal Payments ($ in millions) Amount 2022 $ 805 2023 683 2024 1,624 2025 1,311 2026 756 Thereafter 4,959 Balance at year-end 2021 $ 10,138

INTANGIBLE ASSETS AND GOODWILL

INTANGIBLE ASSETS AND GOODWILL (Tables)	12 Months Ended
	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Composition of Intangible Assets, Finite-Lived	The following table details the composition of our intangible assets at year-end 2021 and 2020: ($ in millions) At Year-End 2021 At Year-End 2020 Definite-lived Intangible Assets Costs incurred to obtain contracts with customers $ 1,875 $ 1,674 Contracts acquired in business combinations and other 2,187 2,257 4,062 3,931 Accumulated amortization (1,052) (937) 3,010 2,994 Indefinite-lived Intangible Brand Assets 5,916 5,995 $ 8,926 $ 8,989
Composition of Intangible Assets, Indefinite-Lived	The following table details the composition of our intangible assets at year-end 2021 and 2020: ($ in millions) At Year-End 2021 At Year-End 2020 Definite-lived Intangible Assets Costs incurred to obtain contracts with customers $ 1,875 $ 1,674 Contracts acquired in business combinations and other 2,187 2,257 4,062 3,931 Accumulated amortization (1,052) (937) 3,010 2,994 Indefinite-lived Intangible Brand Assets 5,916 5,995 $ 8,926 $ 8,989
Carrying Amount of Goodwill	The following table details the carrying amount of our goodwill at year-end 2021 and 2020: ($ in millions) U.S. & Canada International Total Balance at year-end 2020 $ 5,347 $ 3,828 $ 9,175 Foreign currency translation 1 (103) (102) Balance at year-end 2021 $ 5,348 $ 3,725 $ 9,073

PROPERTY AND EQUIPMENT (Tables)

PROPERTY AND EQUIPMENT (Tables)	12 Months Ended
	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Composition of Property and Equipment Balances	The following table presents the composition of our property and equipment balances at year-end 2021 and 2020: ($ in millions) At Year-End 2021 At Year-End 2020 Land $ 686 $ 688 Buildings and leasehold improvements 985 1,045 Furniture and equipment 545 640 Construction in progress 137 29 2,353 2,402 Accumulated depreciation (850) (888) $ 1,503 $ 1,514

FAIR VALUE OF FINANCIAL INSTR_2

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	12 Months Ended
	Dec. 31, 2021
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: At Year-End 2021 At Year-End 2020 ($ in millions) Carrying Fair Value Carrying Fair Value Senior, mezzanine, and other loans $ 144 $ 131 $ 159 $ 142 Total noncurrent financial assets $ 144 $ 131 $ 159 $ 142 Senior Notes $ (8,009) $ (8,480) $ (8,031) $ (8,941) Credit Facility (1,050) (1,050) (900) (900) Other long-term debt (135) (140) (126) (128) Other noncurrent liabilities (414) (414) (426) (426) Total noncurrent financial liabilities $ (9,608) $ (10,084) $ (9,483) $ (10,395)

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)	12 Months Ended
	Dec. 31, 2021
Equity [Abstract]
Accumulated Other Comprehensive (Loss) Income Activity	The following table details the accumulated other comprehensive loss activity for 2021, 2020, and 2019: ($ in millions) Foreign Currency Translation Adjustments Derivative Instrument and Other Adjustments Accumulated Other Comprehensive Loss Balance at year-end 2018 $ (403) $ 12 $ (391) Other comprehensive income before reclassifications (1) 35 2 37 Reclassification adjustments — (7) (7) Net other comprehensive income (loss) 35 (5) 30 Balance at year-end 2019 $ (368) $ 7 $ (361) Other comprehensive income before reclassifications (1) 229 7 236 Reclassification adjustments — (10) (10) Net other comprehensive income (loss) 229 (3) 226 Balance at year-end 2020 $ (139) $ 4 $ (135) Other comprehensive (loss) income before reclassifications (1) (212) 5 (207) Reclassification adjustments — — — Net other comprehensive (loss) income (212) 5 (207) Balance at year-end 2021 $ (351) $ 9 $ (342) (1) Other comprehensive income (loss) before reclassifications for foreign currency translation adjustments includes intra-entity foreign currency transactions that are of a long-term investment nature, which resulted in gains (losses) of $40 million for 2021, $(44) million for 2020, and $6 million for 2019.

BUSINESS SEGMENTS (Tables)

BUSINESS SEGMENTS (Tables)	12 Months Ended
	Dec. 31, 2021
Segment Reporting [Abstract]
Segment Revenues	Segment Revenues The following table presents our revenues disaggregated by segment and major revenue stream for the last three fiscal years: 2021 2020 2019 ($ in millions) U.S. & Canada International Total U.S. & Canada International Total U.S. & Canada International Total Gross fee revenues $ 1,580 $ 568 $ 2,148 $ 914 $ 338 $ 1,252 $ 2,265 $ 1,032 $ 3,297 Contract investment amortization (55) (20) (75) (108) (24) (132) (48) (14) (62) Net fee revenues 1,525 548 2,073 806 314 1,120 2,217 1,018 3,235 Owned, leased, and other revenue 282 467 749 198 317 515 715 841 1,556 Cost reimbursement revenue 8,549 1,239 9,788 6,901 966 7,867 13,901 1,685 15,586 Total reportable segment revenue $ 10,356 $ 2,254 $ 12,610 $ 7,905 $ 1,597 $ 9,502 $ 16,833 $ 3,544 $ 20,377 Unallocated corporate and other 1,247 1,069 595 Total revenue $ 13,857 $ 10,571 $ 20,972
Segment Profits	Segment Profits and Losses ($ in millions) 2021 2020 2019 U.S. & Canada (1) $ 1,394 $ 198 $ 2,000 International (2) 258 (222) 804 Unallocated corporate and other (80) (24) (837) Interest expense, net of interest income (392) (418) (368) (Provision) benefit for income taxes (81) 199 (326) Net income (loss) $ 1,099 $ (267) $ 1,273 (1) Includes cost reimbursements, net of $51 million in 2021, $(80) million in 2020, and $(129) million in 2019. (2) Includes cost reimbursements, net of $14 million in 2021, $(55) million in 2020, and $(18) million in 2019.
Depreciation and Amortization	Depreciation, Amortization, and Other ($ in millions) 2021 2020 2019 U.S. & Canada $ 92 $ 209 $ 218 International 106 113 96 Unallocated corporate and other 22 24 27 $ 220 $ 346 $ 341
Capital Expenditures	Capital Expenditures ($ in millions) 2021 2020 2019 U.S. & Canada $ 13 $ 12 $ 287 International 12 17 166 Unallocated corporate and other 158 106 200 $ 183 $ 135 $ 653

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	12 Months Ended
	Dec. 31, 2021
Related Party Transactions [Abstract]
Financial Data Resulting from Transactions with Related Parties, Income Statement Data	The following table presents Income Statement data resulting from transactions with these related parties. This table does not include our Financial Statement captions with insignificant related party activity. ($ in millions) 2021 2020 2019 Cost reimbursement revenue $ 104 $ 107 $ 233 Reimbursed expenses (105) (110) (236) Equity in (losses) earnings (24) (141) 13
Summarized Information for the Entities Equity Method Investments, Income Statement	The following tables present summarized financial information for the entities in which we have equity method investments: ($ in millions) 2021 2020 2019 Sales $ 283 $ 259 $ 815 Net (loss) income (37) (212) 80
Summarized Information for the Entities Equity Method Investments, Balance Sheet	($ in millions) At Year-End 2021 At Year-End 2020 Total Assets (primarily composed of hotel real estate managed by us) $ 1,229 $ 2,348 Total Liabilities 865 1,623

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Additional Information (Details)		12 Months Ended
		Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2017USD ($)
Significant Accounting Policies [Line Items]
Compensation costs from retirement savings plan		$ 80,000,000	$ 75,000,000	$ 128,000,000
Advertising costs		470,000,000	276,000,000	851,000,000
Allowance for credit losses		187,000,000	207,000,000
Change in allowance for credit losses		22,000,000	136,000,000
Goodwill impairment charge		0	0	0
Self-insurance reserve, current		124,000,000	121,000,000
Self-insurance reserve, noncurrent		290,000,000	341,000,000
Accrued expenses and other
Significant Accounting Policies [Line Items]
Current deferred revenue		$ 346,000,000	325,000,000
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Avendra LLC
Significant Accounting Policies [Line Items]
Gain (loss) on disposal					$ 664,000,000
Gain (loss) on disposal, net of tax					$ 425,000,000
Measurement Input, Discount Rate | Valuation Technique, Discounted Cash Flow
Significant Accounting Policies [Line Items]
Self insurance review, measurement input		0.02
Deferred revenue
Significant Accounting Policies [Line Items]
Change in customer contract liability		$ (340,000,000)
Customer contract liability		1,527,000,000	1,867,000,000
Revenue recognized from customer contract liability		334,000,000
Guest loyalty program
Significant Accounting Policies [Line Items]
Change in customer contract liability		200,000,000
Customer contract liability		6,471,000,000	6,271,000,000
Current deferred revenue		2,522,000,000	1,769,000,000
Revenue recognized from customer contract liability		1,966,000,000
Reclassification from deferred revenue		228,000,000
Change in customer contract liability from change in estimates		(58,000,000)
Reimbursements
Significant Accounting Policies [Line Items]
Cost of revenues	[1]	10,322,000,000	8,435,000,000	16,439,000,000
Reimbursements | Disposal Group, Disposed of by Sale, Not Discontinued Operations | Avendra LLC
Significant Accounting Policies [Line Items]
Cost of revenues		56,000,000	62,000,000	118,000,000
Cost of revenues, net of tax		42,000,000	46,000,000	$ 87,000,000
Costs Incurred to Fulfill Contracts
Significant Accounting Policies [Line Items]
Capitalized costs		$ 368,000,000	$ 366,000,000
[1]	See Note 15 for disclosure of related party amounts.

RESTRUCTURING CHARGES - Rollfor

RESTRUCTURING CHARGES - Rollforward of Reserves (Details) - Employee termination benefits $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)
Restructuring Reserve [Roll Forward]
Beginning balance	$ 143
Charges	0
Cash payments	(122)
Other	(6)
Ending balance	$ 15

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 (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Computation of Basic Earnings Per Share
Net income (loss)	$ 1,099	$ (267)	$ 1,273
Shares for basic earnings per share (in shares)	327.2	325.8	332.7
Basic earnings (loss) per share (in USD per share)	$ 3.36	$ (0.82)	$ 3.83
Computation of Diluted Earnings Per Share
Net income (loss)	$ 1,099	$ (267)	$ 1,273
Shares for basic earnings per share (in shares)	327.2	325.8	332.7
Effect of dilutive securities
Stock-based compensation (in shares)	2.1	0	2.8
Shares for diluted earnings per share (in shares)	329.3	325.8	335.5
Diluted earnings (loss) per share (in USD per share)	$ 3.34	$ (0.82)	$ 3.80
Antidilutive shares (in shares)		1.4

STOCK-BASED COMPENSATION - Addi

STOCK-BASED COMPENSATION - Additional Information (Details) - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved under the stock plan (in shares)	25
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	4 years
Period of service after grant date	1 year
Deferred compensation costs	$ 189	$ 301
Weighted average remaining term for grants outstanding	2 years 2 months 12 days
RSUs | Tranche 1
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period of service after grant date		4 years 5 months
RSUs | Tranche 2
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period of service after grant date		1 year 5 months

STOCK-BASED COMPENSATION - Ad_2

STOCK-BASED COMPENSATION - Additional Information on RSUs (Details) - RSUs - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Reconciliation of Restricted Stock Activity [Line Items]
Stock-based compensation expense (in millions)	$ 171	$ 188	$ 177
Weighted average grant-date fair value (in USD per share)	$ 141	$ 101	$ 117
Aggregate intrinsic value of distributed RSUs (in millions)	$ 205	$ 234	$ 276

STOCK-BASED COMPENSATION - Chan

STOCK-BASED COMPENSATION - Changes in Outstanding RSU Grants (Details) - RSUs - $ / shares shares in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Number of RSUs (in millions)
Outstanding beginning balance (in shares)	5.8
Granted (in shares)	0.5
Distributed (in shares)	(1.7)
Forfeited (in shares)	(0.2)
Outstanding ending balance (in shares)	4.4	5.8
Weighted Average Grant-Date Fair Value (per unit)
Outstanding beginning balance (in USD per share)	$ 107
Granted (in USD per share)	141	$ 101	$ 117
Distributed (in USD per share)	113
Forfeited (in USD per share)	106
Outstanding ending balance (in USD per share)	$ 109	$ 107

INCOME TAXES - Components of Ea

INCOME TAXES - Components of Earnings Before Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
U.S.	$ 890	$ (320)	$ 549
Non-U.S.	290	(146)	1,050
INCOME (LOSS) BEFORE INCOME TAXES	$ 1,180	$ (466)	$ 1,599

INCOME TAXES - Provision for In

INCOME TAXES - Provision for Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Current
-U.S. Federal	$ 99	$ 9	$ (272)
-U.S. State	24	(41)	(57)
-Non-U.S.	(86)	(78)	(161)
Current income tax expense	37	(110)	(490)
Deferred
-U.S. Federal	(122)	180	141
-U.S. State	(37)	81	39
-Non-U.S.	41	48	(16)
Deferred income tax expense	(118)	309	164
Provision for income taxes	$ (81)	$ 199	$ (326)

INCOME TAXES - Unrecognized Tax

INCOME TAXES - Unrecognized Tax Benefit Reconciliation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized tax benefit at beginning of year	$ 464	$ 569	$ 623
Change attributable to tax positions taken in prior years	(134)	(66)	(13)
Change attributable to tax positions taken during the current period	0	4	13
Decrease attributable to settlements with taxing authorities	(48)	(43)	(54)
Unrecognized tax benefit at end of year	$ 282	$ 464	$ 569

INCOME TAXES - Additional Infor

INCOME TAXES - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Contingency [Line Items]
Unrecognized tax benefits that, if recognized, would impact the effective tax rate	$ 266	$ 410	$ 498
Interest and penalties related to unrecognized tax benefits	(21)	(15)	$ 28
Interest and penalties accrued	45	85
Tax credits which do expire	36
Tax credits which do not expire	18
Net operating loss benefits	51	$ 44
Net operating losses	3,778
Net operating losses subject to expiration	$ 1,738
Income tax benefit from non-U.S. income	(0.50%)	12.50%	(3.30%)
Pre-tax income	$ 290	$ (146)	$ 1,050
Income tax expense (benefit)	6.80%	42.90%	20.40%
Cash paid for income taxes	$ 362	$ 279	$ 526
Switzerland, Singapore, and Luxembourg
Income Tax Contingency [Line Items]
Income tax benefit from non-U.S. income	3.20%	12.90%	8.80%
Pre-tax income	$ 255	$ 314	$ 709
International
Income Tax Contingency [Line Items]
Income tax expense (benefit)			2.00%
International | United States
Income Tax Contingency [Line Items]
Income tax expense (benefit)	(0.50%)	0.80%

INCOME TAXES - Types of Tempora

INCOME TAXES - Types of Temporary Differences and Carry-Forwards that Significantly Effect Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Deferred Tax Assets
Employee benefits	$ 235	$ 262
Net operating loss carry-forwards	771	818
Accrued expenses and other reserves	191	214
Receivables, net	11	12
Tax credits	53	49
Loyalty Program	181	367
Deferred income	98	69
Lease liabilities	336	252
Interest Limitation	163	0
Other	34	82
Deferred tax assets	2,073	2,125
Valuation allowance	(984)	(1,009)
Deferred tax assets after valuation allowance	1,089	1,116
Deferred Tax Liabilities
Equity method investments	(40)	(29)
Property and equipment	(9)	(42)
Intangibles	(666)	(663)
Right-of-use assets	(290)	(197)
Self-insurance	(25)	(19)
Deferred tax liabilities	(1,030)	(950)
Net deferred taxes	$ 59	$ 166

INCOME TAXES - Reconciliation o

INCOME TAXES - Reconciliation of the U.S. Statutory Tax Rate to Effective Income Tax Rate (Details)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
U.S. statutory tax rate	21.00%	21.00%	21.00%
U.S. state income taxes, net of U.S. federal tax benefit	2.70%	3.80%	1.60%
Non-U.S. income	(0.50%)	12.50%	(3.30%)
Change in valuation allowance	(0.70%)	(20.00%)	3.40%
Change in uncertain tax positions	(12.00%)	12.20%	1.90%
Permanent items	(0.50%)	9.40%	1.30%
Tax on asset dispositions	(0.70%)	0.00%	(0.70%)
Excess tax benefits related to equity awards	(2.80%)	6.40%	(3.20%)
U.S. tax on foreign earnings	0.004	(0.030)	0.001
Other, net	(0.10%)	0.60%	(1.70%)
Effective rate	6.80%	42.90%	20.40%

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Guarantees (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2017
Commitments and Contingencies Disclosure [Line Items]
Maximum Potential Amount of Future Fundings	$ 227
Recorded Liability for Guarantees	127
Debt service
Commitments and Contingencies Disclosure [Line Items]
Maximum Potential Amount of Future Fundings	20
Recorded Liability for Guarantees	5
Operating profit
Commitments and Contingencies Disclosure [Line Items]
Maximum Potential Amount of Future Fundings	189
Recorded Liability for Guarantees	118
Other
Commitments and Contingencies Disclosure [Line Items]
Maximum Potential Amount of Future Fundings	18
Recorded Liability for Guarantees	4
Sheraton Grand Chicago Hotel
Commitments and Contingencies Disclosure [Line Items]
Recorded Liability for Guarantees	300	$ 300
Sheraton Grand Chicago Hotel | Land and Hotel
Commitments and Contingencies Disclosure [Line Items]
Maximum Potential Amount of Future Fundings			$ 300
Sheraton Grand Chicago Hotel | Land
Commitments and Contingencies Disclosure [Line Items]
Maximum Potential Amount of Future Fundings			$ 200
Not Yet In Effect Condition | Operating profit
Commitments and Contingencies Disclosure [Line Items]
Maximum Potential Amount of Future Fundings	42
Not Yet In Effect Condition | Other
Commitments and Contingencies Disclosure [Line Items]
Maximum Potential Amount of Future Fundings	3
Accrued Expenses and Other
Commitments and Contingencies Disclosure [Line Items]
Recorded Liability for Guarantees	17
Other noncurrent liabilities
Commitments and Contingencies Disclosure [Line Items]
Recorded Liability for Guarantees	$ 110
Minimum
Commitments and Contingencies Disclosure [Line Items]
Guarantee obligations, term	3 years
Maximum
Commitments and Contingencies Disclosure [Line Items]
Guarantee obligations, term	10 years

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES - Commitments (Details) $ in Millions	1 Months Ended	12 Months Ended
	Mar. 15, 2019lawsuit	Dec. 31, 2021USD ($)lawsuit	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Commitments and Contingencies Disclosure [Line Items]
Purchase obligation		$ 409
Purchase obligation, expected to fund commitments in 2022		227
Purchase obligation, expected to fund commitments in 2023		71
Purchase obligation, expected to fund commitments in 2024		88
Purchase obligation, expected to fund commitments thereafter		23
Letters of credit outstanding		148
Surety bonds issued		162
Data Security Incident
Commitments and Contingencies Disclosure [Line Items]
Expense related to data security incident		(24)	$ 11	$ 148
Insurance recoveries		19	29	$ 84
Proceeds from insurance recoveries		$ 23	$ 47
Class Action Lawsuits Related to Data Security Incident
Commitments and Contingencies Disclosure [Line Items]
Number of lawsuits filed | lawsuit		100
Number of lawsuits remaining | lawsuit		1
Shareholder Derivative Complaints Related to Data Security Incident
Commitments and Contingencies Disclosure [Line Items]
Number of new lawsuits filed | lawsuit	2

LEASES - Additional Information

LEASES - Additional Information (Details) $ in Millions	12 Months Ended
	Dec. 31, 2021renewal_option	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Lessee, Lease, Description [Line Items]
Lease term	20 years
Number of renewals (or more than) | renewal_option	1
U.S. and Canada Leased Hotels
Lessee, Lease, Description [Line Items]
Impairment loss		$ 116	$ 99
Legacy-Starwood Office Building
Lessee, Lease, Description [Line Items]
Impairment loss from building accounted for as a finance lease			$ 34
Minimum
Lessee, Lease, Description [Line Items]
Renewal term	5 years
Maximum
Lessee, Lease, Description [Line Items]
Renewal term	10 years

LEASES - Composition of Lease E

LEASES - Composition of Lease Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Operating lease cost	$ 149	$ 157	$ 185
Variable lease cost	$ 51	$ 60	$ 113

LEASES - Future Minimum Lease P

LEASES - Future Minimum Lease Payments (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Operating Leases
2022	$ 191
2023	150
2024	141
2025	133
2026	109
Thereafter	942
Total minimum lease payments	1,666
Less: Amount representing interest	418
Present value of minimum lease payments	1,248	$ 970
Finance Leases
2022	13
2023	14
2024	14
2025	14
2026	15
Thereafter	122
Total minimum lease payments	192
Less: Amount representing interest	46
Finance lease obligations	$ 146	$ 153

LEASES - Current and Noncurrent

LEASES - Current and Noncurrent Lease Liability (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Operating Leases
Current	$ 150	$ 147
Noncurrent	1,098	823
Present value of minimum lease payments	1,248	970
Finance Lease Liability [Abstract]
Current	7	7
Noncurrent	139	146
Present value of minimum lease payments	$ 146	$ 153
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Accrued expenses and other	Accrued expenses and other
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	Current portion of long-term debt	Current portion of long-term debt
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Long-term debt, noncurrent	Long-term debt, noncurrent

LEASES - Lease Terms and Discou

LEASES - Lease Terms and Discount Rate (Details)	Dec. 31, 2021	Dec. 31, 2020
Weighted Average Remaining Lease Term (in years)
Operating leases	14 years	10 years
Finance leases	12 years	13 years
Weighted Average Discount Rate
Operating leases	4.20%	4.60%
Finance leases	4.40%	4.40%

LEASES - Supplemental Cash Flow

LEASES - Supplemental Cash Flows Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows for operating leases	$ 181	$ 162
Lease assets obtained in exchange for lease obligations:
Operating leases	$ 463	$ 35

LONG-TERM DEBT - Detail on Long

LONG-TERM DEBT - Detail on Long-term Debt Balances (Details) - USD ($)	Dec. 31, 2021	Sep. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Credit Facility	$ 1,050,000,000			$ 900,000,000
Finance lease obligations	146,000,000			153,000,000
Other	135,000,000			143,000,000
Long-term debt	10,138,000,000			10,376,000,000
Less current portion	(805,000,000)			(1,173,000,000)
Long-term debt, noncurrent	9,333,000,000			9,203,000,000
Series L Notes, interest rate of 3.3%, face amount of $173, maturing September 15, 2022 (effective interest rate of 3.4%)
Debt Instrument [Line Items]
Senior Notes	$ 173,000,000			173,000,000
Series L Notes, interest rate of 3.3%, face amount of $173, maturing September 15, 2022 (effective interest rate of 3.4%) | Senior Notes
Debt Instrument [Line Items]
Senior notes, interest rate	3.30%
Senior notes, face amount	$ 173,000,000
Senior notes, effective interest rate	3.40%
Series N Notes, interest rate of 3.1%, face amount of $400, redeemed August 9, 2021 (effective interest rate of 3.4%)
Debt Instrument [Line Items]
Senior Notes	$ 0			399,000,000
Series N Notes, interest rate of 3.1%, face amount of $400, redeemed August 9, 2021 (effective interest rate of 3.4%) | Senior Notes
Debt Instrument [Line Items]
Senior notes, interest rate	3.10%
Senior notes, face amount	$ 400,000,000
Senior notes, effective interest rate	3.40%
Series O Notes, interest rate of 2.9%, face amount of $450, matured March 1, 2021 (effective interest rate of 3.1%)
Debt Instrument [Line Items]
Senior Notes	$ 0			450,000,000
Series O Notes, interest rate of 2.9%, face amount of $450, matured March 1, 2021 (effective interest rate of 3.1%) | Senior Notes
Debt Instrument [Line Items]
Senior notes, interest rate	2.90%
Senior notes, face amount	$ 450,000,000
Senior notes, effective interest rate	3.10%
Series P Notes, interest rate of 3.8%, face amount of $350, maturing October 1, 2025 (effective interest rate of 4.0%)
Debt Instrument [Line Items]
Senior Notes	$ 347,000,000			346,000,000
Series P Notes, interest rate of 3.8%, face amount of $350, maturing October 1, 2025 (effective interest rate of 4.0%) | Senior Notes
Debt Instrument [Line Items]
Senior notes, interest rate	3.80%
Senior notes, face amount	$ 350,000,000
Senior notes, effective interest rate	4.00%
Series Q Notes, interest rate of 2.3%, face amount of $399, matured January 15, 2022 (effective interest rate of 2.5%)
Debt Instrument [Line Items]
Senior Notes	$ 399,000,000			398,000,000
Series Q Notes, interest rate of 2.3%, face amount of $399, matured January 15, 2022 (effective interest rate of 2.5%) | Senior Notes
Debt Instrument [Line Items]
Senior notes, interest rate	2.30%
Senior notes, face amount	$ 399,000,000
Senior notes, effective interest rate	2.50%
Series R Notes, interest rate of 3.1%, face amount of $750, maturing June 15, 2026 (effective interest rate of 3.3%)
Debt Instrument [Line Items]
Senior Notes	$ 746,000,000			745,000,000
Series R Notes, interest rate of 3.1%, face amount of $750, maturing June 15, 2026 (effective interest rate of 3.3%) | Senior Notes
Debt Instrument [Line Items]
Senior notes, interest rate	3.10%
Senior notes, face amount	$ 750,000,000
Senior notes, effective interest rate	3.30%
Series U Notes, interest rate of 3.1%, face amount of $291, maturing February 15, 2023 (effective interest rate of 3.1%)
Debt Instrument [Line Items]
Senior Notes	$ 291,000,000			291,000,000
Series U Notes, interest rate of 3.1%, face amount of $291, maturing February 15, 2023 (effective interest rate of 3.1%) | Senior Notes
Debt Instrument [Line Items]
Senior notes, interest rate	3.10%
Senior notes, face amount	$ 291,000,000
Senior notes, effective interest rate	3.10%
Series V Notes, interest rate of 3.8%, face amount of $318, maturing March 15, 2025 (effective interest rate of 2.8%)
Debt Instrument [Line Items]
Senior Notes	$ 327,000,000			330,000,000
Series V Notes, interest rate of 3.8%, face amount of $318, maturing March 15, 2025 (effective interest rate of 2.8%) | Senior Notes
Debt Instrument [Line Items]
Senior notes, interest rate	3.80%
Senior notes, face amount	$ 318,000,000
Senior notes, effective interest rate	2.80%
Series W Notes, interest rate of 4.5%, face amount of $278, maturing October 1, 2034 (effective interest rate of 4.1%)
Debt Instrument [Line Items]
Senior Notes	$ 290,000,000			290,000,000
Series W Notes, interest rate of 4.5%, face amount of $278, maturing October 1, 2034 (effective interest rate of 4.1%) | Senior Notes
Debt Instrument [Line Items]
Senior notes, interest rate	4.50%
Senior notes, face amount	$ 278,000,000
Senior notes, effective interest rate	4.10%
Series X Notes, interest rate of 4.0%, face amount of $450, maturing April 15, 2028 (effective interest rate of 4.2%)
Debt Instrument [Line Items]
Senior Notes	$ 445,000,000			445,000,000
Series X Notes, interest rate of 4.0%, face amount of $450, maturing April 15, 2028 (effective interest rate of 4.2%) | Senior Notes
Debt Instrument [Line Items]
Senior notes, interest rate	4.00%
Senior notes, face amount	$ 450,000,000
Senior notes, effective interest rate	4.20%
Series Z Notes, interest rate of 4.2%, face amount of $350, maturing December 1, 2023 (effective interest rate of 4.4%)
Debt Instrument [Line Items]
Senior Notes	$ 349,000,000			348,000,000
Series Z Notes, interest rate of 4.2%, face amount of $350, maturing December 1, 2023 (effective interest rate of 4.4%) | Senior Notes
Debt Instrument [Line Items]
Senior notes, interest rate	4.20%
Senior notes, face amount	$ 350,000,000
Senior notes, effective interest rate	4.40%
Series AA Notes, interest rate of 4.7%, face amount of $300, maturing December 1, 2028 (effective interest rate of 4.8%)
Debt Instrument [Line Items]
Senior Notes	$ 297,000,000			297,000,000
Series AA Notes, interest rate of 4.7%, face amount of $300, maturing December 1, 2028 (effective interest rate of 4.8%) | Senior Notes
Debt Instrument [Line Items]
Senior notes, interest rate	4.70%
Senior notes, face amount	$ 300,000,000
Senior notes, effective interest rate	4.80%
Series BB Notes, floating rate, face amount of $300, matured March 8, 2021
Debt Instrument [Line Items]
Senior Notes	$ 0			300,000,000
Series BB Notes, floating rate, face amount of $300, matured March 8, 2021 | Senior Notes
Debt Instrument [Line Items]
Senior notes, face amount	300,000,000
Series CC Notes, interest rate of 3.6%, face amount of $550, maturing April 15, 2024 (effective interest rate of 3.9%)
Debt Instrument [Line Items]
Senior Notes	$ 566,000,000			586,000,000
Series CC Notes, interest rate of 3.6%, face amount of $550, maturing April 15, 2024 (effective interest rate of 3.9%) | Senior Notes
Debt Instrument [Line Items]
Senior notes, interest rate	3.60%
Senior notes, face amount	$ 550,000,000
Senior notes, effective interest rate	3.90%
Series DD Notes, interest rate of 2.1%, face amount of $224, maturing October 3, 2022 (effective interest rate of 1.2%)
Debt Instrument [Line Items]
Senior Notes	$ 226,000,000			228,000,000
Series DD Notes, interest rate of 2.1%, face amount of $224, maturing October 3, 2022 (effective interest rate of 1.2%) | Senior Notes
Debt Instrument [Line Items]
Senior notes, interest rate	2.10%
Senior notes, face amount	$ 224,000,000
Senior notes, effective interest rate	1.20%
Series EE Notes, interest rate of 5.8%, face amount of $600, maturing May 1, 2025 (effective interest rate of 6.0%)
Debt Instrument [Line Items]
Senior Notes	$ 595,000,000			1,583,000,000
Series EE Notes, interest rate of 5.8%, face amount of $600, maturing May 1, 2025 (effective interest rate of 6.0%) | Senior Notes
Debt Instrument [Line Items]
Senior notes, interest rate	5.80%	5.75%
Senior notes, face amount	$ 600,000,000
Senior notes, effective interest rate	6.00%
Series FF Notes, interest rate of 4.6%, face amount of $1,000, maturing June 15, 2030 (effective interest rate of 4.8%)
Debt Instrument [Line Items]
Senior Notes	$ 987,000,000			986,000,000
Series FF Notes, interest rate of 4.6%, face amount of $1,000, maturing June 15, 2030 (effective interest rate of 4.8%) | Senior Notes
Debt Instrument [Line Items]
Senior notes, interest rate	4.60%
Senior notes, face amount	$ 1,000,000,000
Senior notes, effective interest rate	4.80%
Series GG Notes, interest rate of 3.5%, face amount of $1,000, maturing October 15, 2032 (effective interest rate of 3.7%)
Debt Instrument [Line Items]
Senior Notes	$ 986,000,000			985,000,000
Series GG Notes, interest rate of 3.5%, face amount of $1,000, maturing October 15, 2032 (effective interest rate of 3.7%) | Senior Notes
Debt Instrument [Line Items]
Senior notes, interest rate	3.50%
Senior notes, face amount	$ 1,000,000,000
Senior notes, effective interest rate	3.70%
Series HH Notes, interest rate of 2.9%, face amount of $1,100, maturing April 15, 2031 (effective interest rate of 3.0%)
Debt Instrument [Line Items]
Senior Notes	$ 1,090,000,000			0
Series HH Notes, interest rate of 2.9%, face amount of $1,100, maturing April 15, 2031 (effective interest rate of 3.0%) | Senior Notes
Debt Instrument [Line Items]
Senior notes, interest rate	2.90%		2.85%
Senior notes, face amount	$ 1,100,000,000		$ 1,100,000,000
Senior notes, effective interest rate	3.00%
Series II Notes, interest rate of 2.8%, face amount of $700, maturing October 15, 2033 (effective interest rate of 2.8%)
Debt Instrument [Line Items]
Senior Notes	$ 693,000,000			$ 0
Series II Notes, interest rate of 2.8%, face amount of $700, maturing October 15, 2033 (effective interest rate of 2.8%) | Senior Notes
Debt Instrument [Line Items]
Senior notes, interest rate	2.80%	2.75%
Senior notes, face amount	$ 700,000,000	$ 700,000,000
Senior notes, effective interest rate	2.80%

LONG-TERM DEBT - Additional Inf

LONG-TERM DEBT - Additional Information (Details)	1 Months Ended				3 Months Ended		12 Months Ended
	Jan. 31, 2022USD ($)	Sep. 30, 2021USD ($)	Aug. 31, 2021USD ($)	Mar. 31, 2021USD ($)	Sep. 30, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Jan. 31, 2021
Debt Instrument [Line Items]
Loss on extinguishment of debt					$ 164,000,000	$ 0	$ 164,000,000	$ 0	$ 0
Maximum aggregate borrowings under credit facility (up to)							4,500,000,000
Outstanding borrowings						$ 900,000,000	1,050,000,000	900,000,000
Cash paid for interest, net of amounts capitalized							391,000,000	$ 377,000,000	$ 348,000,000
Series N Notes, interest rate of 3.1%, face amount of $400, redeemed August 9, 2021 (effective interest rate of 3.4%)
Debt Instrument [Line Items]
Debt retired			$ 400,000,000
Revolving Credit Facility
Debt Instrument [Line Items]
Borrowings under credit agreement							1,700,000,000
Repayments under credit agreement							1,500,000,000
Outstanding borrowings							$ 1,100,000,000
Senior Notes | Series Q Notes, interest rate of 2.3%, face amount of $399, matured January 15, 2022 (effective interest rate of 2.5%)
Debt Instrument [Line Items]
Interest rate							2.30%
Face amount							$ 399,000,000
Senior Notes | Series Q Notes, interest rate of 2.3%, face amount of $399, matured January 15, 2022 (effective interest rate of 2.5%) | Subsequent Event
Debt Instrument [Line Items]
Debt retired	$ 404,000,000
Senior Notes | Series EE Notes, interest rate of 5.8%, face amount of $600, maturing May 1, 2025 (effective interest rate of 6.0%)
Debt Instrument [Line Items]
Debt retired		$ 1,000,000,000
Interest rate		5.75%			5.75%		5.80%
Face amount							$ 600,000,000
Senior Notes | Series II Notes, interest rate of 2.8%, face amount of $700, maturing October 15, 2033 (effective interest rate of 2.8%)
Debt Instrument [Line Items]
Interest rate		2.75%			2.75%		2.80%
Face amount		$ 700,000,000			$ 700,000,000		$ 700,000,000
Net proceeds		$ 693,000,000
Senior Notes | Series N Notes, interest rate of 3.1%, face amount of $400, redeemed August 9, 2021 (effective interest rate of 3.4%)
Debt Instrument [Line Items]
Interest rate							3.10%
Face amount							$ 400,000,000
Senior Notes | Series HH Notes, interest rate of 2.9%, face amount of $1,100, maturing April 15, 2031 (effective interest rate of 3.0%)
Debt Instrument [Line Items]
Interest rate				2.85%			2.90%
Face amount				$ 1,100,000,000			$ 1,100,000,000
Net proceeds				$ 1,089,000,000
Line of Credit | Revolving Credit Facility | Maximum
Debt Instrument [Line Items]
Maximum leverage ratio										5.50
Line of Credit | Revolving Credit Facility | Minimum
Debt Instrument [Line Items]
Maximum leverage ratio										4

LONG-TERM DEBT - Future Princip

LONG-TERM DEBT - Future Principal Payments for Debt (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Debt Disclosure [Abstract]
2022	$ 805
2023	683
2024	1,624
2025	1,311
2026	756
Thereafter	4,959
Long-term debt	$ 10,138	$ 10,376

INTANGIBLE ASSETS AND GOODWIL_2

INTANGIBLE ASSETS AND GOODWILL - Composition of Acquired Intangible Assets (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Acquired Finite-Lived Intangible Assets [Line Items]
Definite-lived Intangible Assets, gross	$ 4,062	$ 3,931
Accumulated amortization	(1,052)	(937)
Definite-lived Intangible Assets, net	3,010	2,994
Acquired Indefinite-lived Intangible Assets [Line Items]
Intangible assets	8,926	8,989
Indefinite-lived Intangible Brand Assets
Acquired Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived Intangible Brand Assets	5,916	5,995
Costs incurred to obtain contracts with customers
Acquired Finite-Lived Intangible Assets [Line Items]
Definite-lived Intangible Assets, gross	1,875	1,674
Contracts acquired in business combinations and other
Acquired Finite-Lived Intangible Assets [Line Items]
Definite-lived Intangible Assets, gross	$ 2,187	$ 2,257

INTANGIBLE ASSETS AND GOODWIL_3

INTANGIBLE ASSETS AND GOODWILL - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Impairment of intangible assets		$ 64
Expected aggregate future amortization expense of intangible assets for 2022	$ 163
Expected aggregate future amortization expense of intangible assets for 2023	147
Expected aggregate future amortization expense of intangible assets for 2024	134
Expected aggregate future amortization expense of intangible assets for 2025	122
Expected aggregate future amortization expense of intangible assets for 2026	$ 110
Minimum
Finite-Lived Intangible Assets [Line Items]
Range of amortization life of intangible assets	15 years
Maximum
Finite-Lived Intangible Assets [Line Items]
Range of amortization life of intangible assets	30 years
Contracts acquired in business combinations and other
Finite-Lived Intangible Assets [Line Items]
Amortization expense of intangible assets	$ 165	97	$ 105
Contracts acquired in business combinations and other | Reimbursed Expenses
Finite-Lived Intangible Assets [Line Items]
Amortization expense of intangible assets	$ 62	$ 0	$ 0

INTANGIBLE ASSETS AND GOODWIL_4

INTANGIBLE ASSETS AND GOODWILL - Carrying Amount of Goodwill (Details) $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 9,175
Foreign currency translation	(102)
Ending balance	9,073
U.S. & Canada
Goodwill [Roll Forward]
Beginning balance	5,347
Foreign currency translation	1
Ending balance	5,348
International
Goodwill [Roll Forward]
Beginning balance	3,828
Foreign currency translation	(103)
Ending balance	$ 3,725

PROPERTY AND EQUIPMENT - Compos

PROPERTY AND EQUIPMENT - Composition of our Property and Equipment Balances (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 2,353	$ 2,402
Accumulated depreciation	(850)	(888)
Property and equipment, net	1,503	1,514
Land
Property, Plant and Equipment [Line Items]
Property and equipment, gross	686	688
Buildings and leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	985	1,045
Furniture and equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	545	640
Construction in progress
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 137	$ 29

PROPERTY AND EQUIPMENT - Additi

PROPERTY AND EQUIPMENT - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Depreciation expense	$ 138	$ 322	$ 346
Property and equipment, net	1,503	1,514
International Operations
Property, Plant and Equipment [Line Items]
Property and equipment, net	623	679
Reimbursed Expenses
Property, Plant and Equipment [Line Items]
Depreciation expense	$ 49	$ 109	$ 121
Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives	3 years
Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives	40 years

FAIR VALUE OF FINANCIAL INSTR_3

FAIR VALUE OF FINANCIAL INSTRUMENTS - Carrying Values and Fair Values of Non-Current Financial Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior, mezzanine, and other loans	$ 144	$ 159
Credit Facility	(1,050)	(900)
Other noncurrent liabilities	(2,002)	(2,366)
Carrying Amount
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior, mezzanine, and other loans	144	159
Total noncurrent financial assets	144	159
Senior Notes	(8,009)	(8,031)
Credit Facility	(1,050)	(900)
Other long-term debt	(135)	(126)
Other noncurrent liabilities	(414)	(426)
Total noncurrent financial liabilities	(9,608)	(9,483)
Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior, mezzanine, and other loans	131	142
Total noncurrent financial assets	131	142
Senior Notes	(8,480)	(8,941)
Credit Facility	(1,050)	(900)
Other long-term debt	(140)	(128)
Other noncurrent liabilities	(414)	(426)
Total noncurrent financial liabilities	$ (10,084)	$ (10,395)

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE LOSS - Accumulated Other Comprehensive Income Activity (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
AOCI Attributable to Parent [Roll forward] [Abstract]
Beginning balance	$ 430	$ 703	$ 2,225
Other comprehensive (loss) income before reclassifications	(207)	236	37
Reclassification adjustments	0	(10)	(7)
Total other comprehensive (loss) income, net of tax	(207)	226	30
Ending balance	1,414	430	703
Intra-entity foreign currency long-term-investment gains (losses)	40	(44)	6
Foreign Currency Translation Adjustments
AOCI Attributable to Parent [Roll forward] [Abstract]
Beginning balance	(139)	(368)	(403)
Other comprehensive (loss) income before reclassifications	(212)	229	35
Reclassification adjustments	0	0	0
Total other comprehensive (loss) income, net of tax	(212)	229	35
Ending balance	(351)	(139)	(368)
Derivative Instrument and Other Adjustments
AOCI Attributable to Parent [Roll forward] [Abstract]
Beginning balance	4	7	12
Other comprehensive (loss) income before reclassifications	5	7	2
Reclassification adjustments	0	(10)	(7)
Total other comprehensive (loss) income, net of tax	5	(3)	(5)
Ending balance	9	4	7
Accumulated Other Comprehensive Loss
AOCI Attributable to Parent [Roll forward] [Abstract]
Beginning balance	(135)	(361)	(391)
Total other comprehensive (loss) income, net of tax	(207)	226	30
Ending balance	$ (342)	$ (135)	$ (361)

BUSINESS SEGMENTS - Segment Rev

BUSINESS SEGMENTS - Segment Revenues (Details) $ in Millions		12 Months Ended
		Dec. 31, 2021USD ($)segment	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Segment Reporting, Revenue Reconciling Item [Line Items]
Number of reporting segments | segment		2
Total revenue		$ 13,857	$ 10,571	$ 20,972
Total segment
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenue		12,610	9,502	20,377
Total segment | Non-US
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenue		2,615	1,910	4,400
Total segment | U.S. & Canada
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenue		10,356	7,905	16,833
Total segment | International
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenue		2,254	1,597	3,544
Unallocated corporate and other
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenue		1,247	1,069	595
Net fee revenues
Segment Reporting, Revenue Reconciling Item [Line Items]
Gross fee revenues		2,694	1,683	3,823
Contract investment amortization		(75)	(132)	(62)
Total revenue		2,619	1,551	3,761
Net fee revenues | Total segment
Segment Reporting, Revenue Reconciling Item [Line Items]
Gross fee revenues		2,148	1,252	3,297
Contract investment amortization		(75)	(132)	(62)
Total revenue		2,073	1,120	3,235
Net fee revenues | Total segment | U.S. & Canada
Segment Reporting, Revenue Reconciling Item [Line Items]
Gross fee revenues		1,580	914	2,265
Contract investment amortization		(55)	(108)	(48)
Total revenue		1,525	806	2,217
Net fee revenues | Total segment | International
Segment Reporting, Revenue Reconciling Item [Line Items]
Gross fee revenues		568	338	1,032
Contract investment amortization		(20)	(24)	(14)
Total revenue		548	314	1,018
Owned, leased, and other
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenue		796	568	1,612
Owned, leased, and other | Total segment
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenue		749	515	1,556
Owned, leased, and other | Total segment | U.S. & Canada
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenue		282	198	715
Owned, leased, and other | Total segment | International
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenue		467	317	841
Reimbursements
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenue	[1]	10,442	8,452	15,599
Reimbursements | Total segment
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenue		9,788	7,867	15,586
Reimbursements | Total segment | Non-US
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenue		1,553	1,247	2,394
Reimbursements | Total segment | U.S. & Canada
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenue		8,549	6,901	13,901
Reimbursements | Total segment | International
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenue		$ 1,239	$ 966	$ 1,685
[1]	See Note 15 for disclosure of related party amounts.

BUSINESS SEGMENTS - Segment Pro

BUSINESS SEGMENTS - Segment Profits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total segments profits	$ 1,750	$ 84	$ 1,800
Interest expense, net of interest income	(392)	(418)	(368)
(Provision) benefit for income taxes	(81)	199	(326)
NET INCOME (LOSS)	1,099	(267)	1,273
Non-US | Reimbursements
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total segments profits	14	(62)	(18)
Total segment | Non-US
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total segments profits	297	(198)	982
Total segment | U.S. & Canada
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total segments profits	1,394	198	2,000
Total segment | U.S. & Canada | Reimbursements
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total segments profits	51	(80)	(129)
Total segment | International
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total segments profits	258	(222)	804
Total segment | International | Reimbursements
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total segments profits	14	(55)	(18)
Unallocated corporate and other
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total segments profits	$ (80)	$ (24)	$ (837)

BUSINESS SEGMENTS - Depreciatio

BUSINESS SEGMENTS - Depreciation and Amortization (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting Information [Line Items]
Depreciation, amortization, and other	$ 220	$ 346	$ 341
Total segment | U.S. & Canada
Segment Reporting Information [Line Items]
Depreciation, amortization, and other	92	209	218
Total segment | International
Segment Reporting Information [Line Items]
Depreciation, amortization, and other	106	113	96
Unallocated corporate and other
Segment Reporting Information [Line Items]
Depreciation, amortization, and other	$ 22	$ 24	$ 27

BUSINESS SEGMENTS - Capital Exp

BUSINESS SEGMENTS - Capital Expenditures (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting Information [Line Items]
Capital expenditures	$ 183	$ 135	$ 653
Total segment | U.S. & Canada
Segment Reporting Information [Line Items]
Capital expenditures	13	12	287
Total segment | International
Segment Reporting Information [Line Items]
Capital expenditures	12	17	166
Unallocated corporate and other
Segment Reporting Information [Line Items]
Capital expenditures	$ 158	$ 106	$ 200

RELATED PARTY TRANSACTIONS - Fi

RELATED PARTY TRANSACTIONS - Financial Data Resulting from Transactions with Related Parties, Income Statement Data (Detail) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Related Party Transaction [Line Items]
Total revenue		$ 13,857	$ 10,571	$ 20,972
Equity in (losses) earnings	[1]	(24)	(141)	13
Equity Method Investment
Related Party Transaction [Line Items]
Equity in (losses) earnings		(24)	(141)	13
Reimbursements
Related Party Transaction [Line Items]
Total revenue	[1]	10,442	8,452	15,599
Reimbursed expenses	[1]	(10,322)	(8,435)	(16,439)
Reimbursements | Equity Method Investment
Related Party Transaction [Line Items]
Total revenue		104	107	233
Reimbursed expenses		$ (105)	$ (110)	$ (236)
[1]	See Note 15 for disclosure of related party amounts.

RELATED PARTY TRANSACTIONS - Ad

RELATED PARTY TRANSACTIONS - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Related Party Transactions [Abstract]
Carrying amount of equity method investments	$ 387,000,000	$ 422,000,000
Amount by which the fair value of equity method investments exceeds company's share of the book value of the investee's net assets	257,000,000	294,000,000
Impairment charges		77,000,000
JWM Family Enterprise, L.P.
Related Party Transaction [Line Items]
Management fees	6,000,000	3,000,000	$ 12,000,000
Affiliated Members Of The Marriott Family
Related Party Transaction [Line Items]
Management fees	$ 1,000,000	$ 0	$ 0

RELATED PARTY TRANSACTIONS - Eq

RELATED PARTY TRANSACTIONS - Equity Method Investment Summarized Financial Information, Income Statement (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Related Party Transaction [Line Items]
Revenues	$ 13,857	$ 10,571	$ 20,972
Net income (loss)	1,099	(267)	1,273
Equity Method Investment, Nonconsolidated Investee or Group of Investees
Related Party Transaction [Line Items]
Revenues	283	259	815
Net income (loss)	$ (37)	$ (212)	$ 80

RELATED PARTY TRANSACTIONS - _2

RELATED PARTY TRANSACTIONS - Equity Method Investment Summarized Financial Information, Balance Sheet (Detail) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Related Party Transaction [Line Items]
Total Assets (primarily composed of hotel real estate managed by us)	$ 25,553	$ 24,701
Equity Method Investment, Nonconsolidated Investee or Group of Investees
Related Party Transaction [Line Items]
Total Assets (primarily composed of hotel real estate managed by us)	1,229	2,348
Total Liabilities	$ 865	$ 1,623

RELATIONSHIP WITH MAJOR CUSTO_2

RELATIONSHIP WITH MAJOR CUSTOMER - Additional Information (Details) $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)property	Dec. 31, 2020USD ($)property	Dec. 31, 2019USD ($)
Revenue, Major Customer [Line Items]
Revenues	$ 13,857	$ 10,571	$ 20,972
Host Hotels & Resorts Inc
Revenue, Major Customer [Line Items]
Number of properties owned or leased | property	56	59
Revenues	$ 1,192	$ 1,037	$ 2,406