Hyatt Hotels (H) 10-Q 31 Oct 18 2018 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2018	Oct. 26, 2018
Document Information
Entity Registrant Name	Hyatt Hotels Corp
Entity Central Index Key	1,468,174
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Sep. 30, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q3
Amendment Flag	false
Trading Symbol	h
Emerging Growth Company	false
Entity Small Business	false
Common Class A
Document Information
Entity Common Stock, Shares Outstanding		42,768,452
Common Class B
Document Information
Entity Common Stock, Shares Outstanding		67,119,482

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - USD ($) $ in Millions	Jul. 31, 2018	May 16, 2018	Feb. 14, 2018	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
REVENUES:
Total revenues				$ 1,074	$ 1,070	$ 3,316	$ 3,345
DIRECT AND SELLING, GENERAL, AND ADMINISTRATIVE EXPENSES:
Depreciation and amortization				81	88	243	261
Other direct costs				8	3	23	20
Selling, general, and administrative				82	89	260	278
Direct and selling, general, and administrative expenses				1,012	1,011	3,068	3,130
Net gains and interest income from marketable securities held to fund rabbi trusts				10	11	19	35
Equity earnings (losses) from unconsolidated hospitality ventures				(6)	1	(17)	(1)
Interest expense				(19)	(20)	(57)	(61)
Gains on sales of real estate				239	0	769	60
Asset impairments				(21)	0	(21)	0
Other income (loss), net				(9)	(16)	(22)	32
INCOME BEFORE INCOME TAXES				256	35	919	280
PROVISION FOR INCOME TAXES				(19)	(16)	(194)	(103)
NET INCOME				237	19	725	177
NET INCOME AND ACCRETION ATTRIBUTABLE TO NONCONTROLLING INTERESTS				0	(1)	0	(1)
NET INCOME ATTRIBUTABLE TO HYATT HOTELS CORPORATION				$ 237	$ 18	$ 725	$ 176
EARNINGS PER SHARE—Basic
Net income (in dollars per share)				$ 2.12	$ 0.15	$ 6.31	$ 1.40
Net income attributable to Hyatt Hotels Corporation (in dollars per share)				2.12	0.14	6.31	1.39
EARNINGS PER SHARE—Diluted
Net income (in dollars per share)				2.09	0.15	6.21	1.39
Net income attributable to Hyatt Hotels Corporation (in dollars per share)				2.09	0.14	6.21	1.38
CASH DIVIDENDS DECLARED PER SHARE (in dollars per share)	$ 0.15	$ 0.15	$ 0.15	$ 0.15	$ 0	$ 0.45	$ 0
Owned and leased hotels
REVENUES:
Total revenues				$ 450	$ 516	$ 1,450	$ 1,661
DIRECT AND SELLING, GENERAL, AND ADMINISTRATIVE EXPENSES:
Owned and leased hotels				354	406	1,095	1,258
Costs incurred on behalf of managed and franchised properties				354	406	1,095	1,258
Management, franchise, and other fees
REVENUES:
Total revenues				133	123	407	367
Amortization of management and franchise agreement assets constituting payments to customers
REVENUES:
Total revenues				(5)	(4)	(15)	(13)
Net management, franchise, and other fees
REVENUES:
Total revenues				128	119	392	354
Other revenues
REVENUES:
Total revenues				7	6	27	28
Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties
REVENUES:
Total revenues				489	429	1,447	1,302
Costs incurred on behalf of managed and franchised properties
DIRECT AND SELLING, GENERAL, AND ADMINISTRATIVE EXPENSES:
Owned and leased hotels				487	425	1,447	1,313
Costs incurred on behalf of managed and franchised properties				$ 487	$ 425	$ 1,447	$ 1,313

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Statement of Comprehensive Income [Abstract]
Net income	$ 237	$ 19	$ 725	$ 177
Other comprehensive income (loss), net of taxes:
Foreign currency translation adjustments, net of tax (benefit) of $- and $(1) for the three and nine months ended September 30, 2018 and $- for the three and nine months ended September 30, 2017	71	11	48	71
Unrealized gains on available-for-sale debt securities, net of tax expense of $- for the three and nine months ended September 30, 2018 and September 30, 2017, and unrealized (losses) gains on available-for-sale equity securities, net of tax (benefit) expense of $(7) and $21 for the three and nine months ended September 30, 2017	0	(12)	0	33
Unrealized gains on derivative activity, net of tax expense of $1 for the three and nine months ended September 30, 2018 and $- for the three and nine months ended September 30, 2017	3	1	3	1
Other comprehensive income	74	0	51	105
COMPREHENSIVE INCOME	311	19	776	282
COMPREHENSIVE INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS	0	(1)	0	(1)
COMPREHENSIVE INCOME ATTRIBUTABLE TO HYATT HOTELS CORPORATION	$ 311	$ 18	$ 776	$ 281

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income - Parentheticals - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Statement of Comprehensive Income [Abstract]
Foreign currency translation adjustments, net of tax (benefit)	$ 0	$ 0	$ (1)	$ 0
Unrealized gains on available-for-sale debt securities tax	0	0	0	0
Unrealized gains on available-for-sale equity securities tax		(7)		21
Unrealized gains on derivative activity, net of tax expense	$ 1	$ 0	$ 1	$ 0

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2018		Dec. 31, 2017
CURRENT ASSETS:
Cash and cash equivalents	$ 1,014		$ 503
Restricted cash	23	[1]	234
Short-term investments	217		49
Receivables, net of allowances of $25 and $21 at September 30, 2018 and December 31, 2017, respectively	436		350
Inventories	13		14
Prepaids and other assets	140		153
Prepaid income taxes	56		24
Assets held for sale	44		0
Total current assets	1,943		1,327
Investments	225		212
Property and equipment, net	3,570		4,034
Financing receivables, net of allowances	14		19
Goodwill	132		150
Intangibles, net	296		305
Deferred tax assets	149		141
Other assets	1,395		1,384
TOTAL ASSETS	7,724		7,572
CURRENT LIABILITIES:
Current maturities of long-term debt	11		11
Accounts payable	127		136
Accrued expenses and other current liabilities	296		352
Current contract liabilities	332		348
Accrued compensation and benefits	130		145
Liabilities held for sale	1		0
Total current liabilities	897		992
Long-term debt	1,622		1,440
Long-term contract liabilities	433		424
Other long-term liabilities	837		863
Total liabilities	3,789		3,719
Commitments and contingencies
Redeemable noncontrolling interest in preferred shares of a subsidiary	0		10
EQUITY:
Preferred stock, $0.01 par value per share, 10,000,000 shares authorized and none outstanding at September 30, 2018 and December 31, 2017	0		0
Class A common stock, $0.01 par value per share, 1,000,000,000 shares authorized, 43,625,629 issued and outstanding at September 30, 2018, and Class B common stock, $0.01 par value per share, 400,064,055 shares authorized, 67,119,482 shares issued and outstanding at September 30, 2018. Class A common stock, $0.01 par value per share, 1,000,000,000 shares authorized, 48,231,149 issued and outstanding at December 31, 2017, and Class B common stock, $0.01 par value per share, 402,748,249 shares authorized, 7	1		1
Additional paid-in capital	339		967
Retained earnings	3,791		3,054
Accumulated other comprehensive loss	(202)		(185)
Total stockholders’ equity	3,929		3,837
Noncontrolling interests in consolidated subsidiaries	6		6
Total equity	3,935		3,843
TOTAL LIABILITIES, REDEEMABLE NONCONTROLLING INTEREST, AND EQUITY	$ 7,724		$ 7,572
[1]	Restricted cash generally represents sales proceeds pursuant to like-kind exchanges, captive insurance subsidiary requirements, debt service on bonds, escrow deposits, and other arrangements.

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheet - Parentheticals - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Allowance for doubtful accounts receivable, current	$ 25	$ 21
Preferred stock, par value per share (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares outstanding (in shares)	0	0
Common stock, shares, issued (in shares)	0
Common Class A
Common stock, par value per share (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, shares, outstanding (in shares)	43,625,629	48,231,149
Common stock, shares, issued (in shares)	43,625,629	48,231,149
Common Class B
Common stock, par value per share (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	400,064,055	402,748,249
Common stock, shares, outstanding (in shares)	67,119,482	70,753,837
Common stock, shares, issued (in shares)	67,119,482	70,753,837

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 725	$ 177
Adjustments to reconcile net income to net cash provided by operating activities:
Gains on sales of real estate	(769)	(60)
Depreciation and amortization	243	261
Deferred income taxes	(7)	(9)
Impairment of assets	43	0
Equity losses from unconsolidated hospitality ventures	17	1
Amortization of management and franchise agreement assets constituting payments to customers	15	13
Realized losses	2	41
Distributions from unconsolidated hospitality ventures	10	26
Working capital changes and other	(147)	(22)
Net cash provided by operating activities	132	428
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of marketable securities and short-term investments	(572)	(365)
Proceeds from marketable securities and short-term investments	426	364
Contributions to equity method and other investments	(52)	(67)
Return of equity method and other investments	24	200
Acquisitions, net of cash acquired	(263)	(259)
Capital expenditures	(195)	(212)
Proceeds from sales of real estate, net of cash disposed	1,334	296
Other investing activities	10	(11)
Net cash provided by (used in) investing activities	712	(54)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from debt, net of issuance costs of $4 and $-, respectively	416	620
Repayments of debt	(230)	(391)
Repurchases of common stock	(654)	(555)
Proceeds from redeemable noncontrolling interest in preferred shares in a subsidiary	0	9
Repayments of redeemable noncontrolling interest in preferred shares in a subsidiary	(10)	0
Dividends paid	(52)	0
Other financing activities	(13)	(7)
Net cash used in financing activities	(543)	(324)
EFFECT OF EXCHANGE RATE CHANGES ON CASH	3	0
NET INCREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH	304	50
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH—BEGINNING OF YEAR	752	573
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH—END OF PERIOD	$ 1,056	$ 623

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows - Supplemental Disclosure Information - USD ($) $ in Millions		9 Months Ended
		Sep. 30, 2018	Sep. 30, 2017
Statement of Cash Flows [Abstract]
Issuance costs		$ 4	$ 0
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash and cash equivalents		1,014	383
Restricted cash	[1]	23	224
Restricted cash included in other assets	[1]	19	16
Total cash, cash equivalents, and restricted cash		1,056	623
Cash paid during the period for interest		72	77
Cash paid during the period for income taxes		267	125
Non-cash investing and financing activities are as follows:
Non-cash contributions to equity method investments		53	4
Non-cash issuance of financing receivables		45	0
Change in accrued capital expenditures		7	19
Non-cash management and franchise agreement assets constituting payments to customers		$ 0	$ 3
[1]	Restricted cash generally represents sales proceeds pursuant to like-kind exchanges, captive insurance subsidiary requirements, debt service on bonds, escrow deposits, and other arrangements.

Organization

Organization	9 Months Ended
	Sep. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	ORGANIZATION Hyatt Hotels Corporation, a Delaware corporation, and its consolidated subsidiaries (collectively "Hyatt Hotels Corporation") provide hospitality and other services on a worldwide basis through the development, ownership, operation, management, franchising, and licensing of hospitality and wellness-related businesses. We develop, own, operate, manage, franchise, license, or provide services to a portfolio of properties consisting of full service hotels, select service hotels, resorts, and other properties, including branded spas and fitness studios, and timeshare, fractional, and other forms of residential or vacation properties. At September 30, 2018 , (i) we operated or franchised 347 full service hotels, comprising 133,402 rooms throughout the world, (ii) we operated or franchised 407 select service hotels, comprising 57,576 rooms, of which 358 hotels are located in the United States, and (iii) our portfolio included 6 franchised all-inclusive Hyatt-branded resorts, comprising 2,401 rooms, and 3 destination wellness resorts, comprising 399 rooms. At September 30, 2018 , our portfolio of properties operated in 59 countries around the world. Additionally, through strategic relationships, we provide certain reservation and/or loyalty program services to hotels that are unaffiliated with our hotel portfolio and which operate under other tradenames or marks owned by such hotel or licensed by third parties. As used in these Notes and throughout this Quarterly Report on Form 10-Q , (i) the terms "Hyatt," "Company," "we," "us," or "our" mean Hyatt Hotels Corporation and its consolidated subsidiaries and (ii) the term "portfolio of properties" refers to hotels and other properties, including branded spas and fitness studios and residential vacation ownership units, that we develop, own, operate, manage, franchise, license, or provide services to, including under our Park Hyatt, Miraval, Grand Hyatt, Hyatt Regency, Hyatt, Andaz, Hyatt Centric, The Unbound Collection by Hyatt, Hyatt Place, Hyatt House, Hyatt Ziva, Hyatt Zilara, exhale, and Hyatt Residence Club brands. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information, the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all information or footnotes required by GAAP for complete annual financial statements. As a result, this Quarterly Report on Form 10-Q should be read in conjunction with the Consolidated Financial Statements and accompanying Notes in our Annual Report on Form 10-K for the fiscal year ended December 31, 2017 (the " 2017 Form 10-K "). We have eliminated all intercompany accounts and transactions in our condensed consolidated financial statements. We consolidate entities under our control, including entities where we are deemed to be the primary beneficiary. Management believes the accompanying condensed consolidated financial statements reflect all adjustments, which are all of a normal recurring nature, considered necessary for a fair presentation of the interim periods.

Recently Issued Accounting Pron

Recently Issued Accounting Pronouncements	9 Months Ended
	Sep. 30, 2018
Accounting Policies [Abstract]
Recently Issued Accounting Pronouncements	RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS Summary of Significant Accounting Policies Our significant accounting policies are detailed in Part IV, Item 15, "Exhibits and Financial Statement Schedule—Note 2 to our Consolidated Financial Statements" within the 2017 Form 10-K. Upon adoption of Accounting Standards Update No. 2014-09 ("ASU 2014-09"), Revenue from Contracts with Customers (Topic 606) and Accounting Standards Update No. 2016-01 ("ASU 2016-01"), Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities , our accounting policies have been revised as follows: Revenue Recognition —Our revenues are primarily derived from the following products and services and are generally recognized when control of the product or service has transferred to the customer: • Owned and leased hotels revenues: • Owned and leased hotels revenues are derived from room rentals and services provided at our owned and leased properties and are recognized over time as rooms are occupied and when services are rendered. We present revenues net of sales, occupancy, and other taxes. Taxes collected on behalf of and remitted to governmental taxing authorities are excluded from the transaction price of the underlying products and services. In relation to the loyalty program, a portion of our owned and leased hotels revenues is deferred upon initial stay as points are earned by program members at an owned or leased hotel, and revenues are recognized upon redemption at an owned or leased hotel. • Management, franchise, and other fees: • Management fees primarily consist of a base fee, which is generally calculated as a percentage of gross revenues, and an incentive fee, which is generally computed based on a hotel profitability measure. Management fees are recognized over time as services are performed. Additionally, included within our management fees are royalty fees that we recognize as owners derive value from access to Hyatt's intellectual property ("IP"), including our brand names. Incentive fees may be subject to minimum profitability thresholds, and we recognize incentive fee revenues over time as services are rendered only to the extent that a significant reversal is not probable. • Franchise fees consist of an initial fee and ongoing royalty fees computed as a percentage of gross room revenues and, as applicable, food and beverage revenues. Royalty fees are recognized over time as franchisees derive value from the license to Hyatt's IP. Initial fees are deferred and recognized over the expected customer life, which is typically the initial term of the franchise agreement. • Management, franchise, and other fees include license fee revenues associated with the licensing of the Hyatt brand names through our co-branded credit card program. License fee revenues are recognized over time as the licensee derives value from access to Hyatt's brand names. • Net management, franchise, and other fees are reduced by the amortization of management and franchise agreement assets constituting payments to customers ("Contra revenue"). Consideration provided to customers is recognized in other assets and amortized over the expected customer life, which is typically the initial term of the management or franchise agreement. • Other revenues: • Other revenues include revenues from the sale of promotional awards through our co-branded credit card and spa and fitness revenues from exhale. We recognize the revenue from our co-branded credit card upon the fulfillment or expiration of a card member's promotional awards. Revenue is recognized net of expenses incurred to fulfill the promotional award as we are deemed the agent in the transaction. Spa and fitness revenues are recognized at the point in time the products or services are provided to the customer. • Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties: • Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties represent the reimbursement of costs incurred on behalf of the owners of properties. These costs relate primarily to payroll costs at managed properties where we are the employer, as well as costs associated with reservations, sales, marketing, technology (collectively, "system-wide services"), and the loyalty program operated on behalf of owners. Hyatt is reimbursed for costs incurred based on the terms of the contracts, and revenue is recognized as the underlying performance obligations are satisfied. Revenue is adjusted for the effects of a significant financing component when the period between the transfer of the promised goods or services to the customer and payment by the customer exceeds one year. Gains on Sales of Real Estate —Gains on sales of real estate are generally recognized when control of the property transfers to the buyer. Equity Method Investments —We have investments in unconsolidated hospitality ventures accounted for under the equity method. These investments are an integral part of our business and are strategically and operationally important to our overall results. When we receive a distribution from an investment, we determine whether it is a return on our investment or a return of our investment based on the underlying nature of the distribution. We assess investments in unconsolidated hospitality ventures for impairment quarterly. Debt and Equity Securities —Excluding equity securities classified as equity method investments, debt and equity securities consist of various investments: • Equity securities consist of interest-bearing money market funds, mutual funds, common shares, and preferred shares. Equity securities with a readily determinable fair value are recorded at fair value on our condensed consolidated balance sheets based on listed market prices or dealer quotations where available. Equity securities without a readily determinable fair value are recognized at cost less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for the identical or similar investment of the same issuer. • Debt securities consist of various types including preferred shares, time deposits, and fixed income securities, including U.S. government obligations, obligations of other government agencies, corporate debt, mortgage-backed and asset-backed securities, and municipal and provincial notes and bonds. Debt securities are classified as either trading, available-for-sale ("AFS"), or held-to-maturity ("HTM"). • Trading securities—recognized at fair value based on listed market prices or dealer price quotations, where available. Net gains and losses, both realized and unrealized, on trading securities are reflected in net gains and interest income from marketable securities held to fund rabbi trusts or other income (loss), net, depending on the nature of the investment, on our condensed consolidated statements of income. • AFS securities—recognized at fair value based on listed market prices or dealer price quotations, where available. Unrealized gains and losses on AFS debt securities are recognized in accumulated other comprehensive loss on our condensed consolidated balance sheets. Realized gains and losses on debt securities are recognized in other income (loss), net on our condensed consolidated statements of income. • HTM securities—debt security investments which we have the ability to hold until maturity and are recorded at amortized cost. AFS and HTM debt securities are assessed for impairment quarterly. Loyalty Program —We administer the loyalty program for the benefit of Hyatt's portfolio of properties during the period of their participation in the loyalty program. The loyalty program is primarily funded through contributions based on eligible revenues from loyalty program members, and the funds are used for the redemption of member awards and payment of operating expenses. The costs of operating the loyalty program, including the estimated cost of award redemption, are charged to the participating properties based on members' qualified expenditures. The revenues received from the properties are deferred, and revenues are recognized as loyalty points are redeemed, net of redemption expense, through revenues for the reimbursement of costs incurred on behalf of managed and franchised properties. Operating costs are expensed as incurred through costs incurred on behalf of managed and franchised properties. We actuarially determine the amount to recognize as revenue based on statistical formulas that estimate the timing of future point redemptions based on historical experience, including an estimate of breakage for points that will not be redeemed, and an estimate of the points that will eventually be redeemed. Any revenues in excess of the anticipated future redemptions are used to fund the operational expenses of the program. The loyalty program is funded by payments from the properties and returns on marketable securities. The program invests amounts received from the properties in marketable securities which are included in other current and noncurrent assets (see Note 4). The current and noncurrent deferred revenue liabilities of the loyalty program are classified as contract liabilities (see Note 3). Adopted Accounting Standards Revenue from Contracts with Customers —In May 2014, the Financial Accounting Standards Board ("FASB") released ASU 2014-09. ASU 2014-09 supersedes the requirements in Topic 605, Revenue Recognition , and provides a single, comprehensive revenue recognition model for contracts with customers. Subsequently, the FASB issued several related ASUs which further clarified the application of the standard including ASU 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date, which delayed the effective date by one year making it effective for interim and fiscal years beginning after December 14, 2017. We adopted ASU 2014-09, and all related ASUs, utilizing the full retrospective transition method on January 1, 2018, which required us to adjust each prior reporting period presented. The adoption of ASU 2014-09 impacts the timing of the recognition of gains on sales of real estate subject to a long-term management agreement, and the associated impact to deferred tax assets (see Note 11), the classification of Contra revenue, and the timing of revenue recognition related to incentive fees. However, we do not expect the new standard to have a significant impact on incentive fee revenue on a full-year basis. The adoption of ASU 2014-09 also impacts the timing of revenue recognition related to the loyalty program and as a result of the change, we recognized a $116 million increase to the contract liability related to the loyalty program at January 1, 2018. Upon adoption of ASU 2014-09, we recognized a cumulative effect of a change in accounting principle through retained earnings, including a $523 million reclassification related to deferred gains at January 1, 2018. We also reclassified certain management and franchise agreement assets from intangibles, net to other assets and certain current and long-term liabilities to current and long-term contract liabilities. Financial Instruments - Recognition, Measurement, Presentation, and Disclosure —In January 2016, the FASB released ASU 2016-01 . ASU 2016-01 revised the accounting for equity investments, excluding those accounted for under the equity method, and the presentation and disclosure requirements for financial instruments. ASU 2016-01 superseded the guidance to classify equity securities with readily determinable fair values into different categories (i.e., trading versus AFS) and requires all equity securities to be measured at fair value on a recurring basis unless an equity security does not have a readily determinable fair value. Equity securities without a readily determinable fair value are remeasured at fair value only in periods in which an observable price change is available or upon identification of an impairment. All changes in fair value are recognized in net income on our condensed consolidated statements of income. On January 1, 2018, we adopted the provisions of ASU 2016-01 on a modified retrospective basis through a cumulative-effect adjustment to our opening condensed consolidated balance sheet. Upon adoption, $68 million of unrealized gains, net of tax, were reclassified from accumulated other comprehensive loss to opening retained earnings. Accounting for Income Taxes - Intra-Entity Asset Transfers —In October 2016, the FASB released Accounting Standards Update No. 2016-16 ("ASU 2016-16"), Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory . ASU 2016-16 requires an entity to recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. We adopted ASU 2016-16 on January 1, 2018 on a modified retrospective basis resulting in a $4 million decrease to retained earnings. Statement of Cash Flows - Restricted Cash —In November 2016, the FASB released Accounting Standards Update No. 2016-18 ("ASU 2016-18"), Statement of Cash Flows (Topic 230): Restricted Cash (a consensus of the FASB Emerging Issues Task Force) . ASU 2016-18 requires amounts generally described as restricted cash to be included within cash and cash equivalents when reconciling the total beginning and ending amounts for the periods shown on the condensed consolidated statements of cash flows. We adopted the provisions of ASU 2016-18 on January 1, 2018 on a retrospective basis. Upon adoption of ASU 2016-18, restricted cash of $249 million , including $15 million which is recognized within other assets on our condensed consolidated balance sheet at December 31, 2017, is included within the beginning balance of cash, cash equivalents, and restricted cash on our condensed consolidated statements of cash flows for the nine months ended September 30, 2018 . The table below summarizes the changes on our condensed consolidated statements of cash flows for the nine months ended September 30, 2017 : Nine Months Ended September 30, 2017 Operating activities $ (11 ) Investing activities 163 Financing activities (3 ) Cash, cash equivalents, and restricted cash - beginning of year 91 Cash, cash equivalents, and restricted cash - end of period $ 240 Business Combinations - Definition of a Business —In January 2017, the FASB released Accounting Standards Update No. 2017-01 ("ASU 2017-01"), Business Combinations (Topic 805): Clarifying the Definition of a Business . ASU 2017-01 clarifies the definition of a business to assist entities with evaluating whether transactions should be accounted for as acquisitions or dispositions of assets or businesses. Generally, our acquisitions and dispositions of individual hotels were previously accounted for as business combinations, however, upon adoption of ASU 2017-01, there is an increased likelihood that certain acquisitions and dispositions of individual hotels will be accounted for as asset transactions. We adopted ASU 2017-01 on January 1, 2018 on a prospective basis and evaluate the impact of the standard on acquisitions and dispositions based on the relevant facts and circumstances. Derivatives and Hedging - Accounting for Hedging Activities —In August 2017, the FASB released Accounting Standards Update No. 2017-12 ("ASU 2017-12"), Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities . ASU 2017-12 improves the financial reporting of hedging relationships to better portray the economic results by making improvements to simplify the application of the hedge accounting guidance in current GAAP. ASU 2017-12 is effective for interim periods and fiscal years beginning after December 15, 2018, with early adoption permitted. We early adopted ASU 2017-12 on April 1, 2018 on a modified retrospective basis, which did not impact our condensed consolidated financial statements upon adoption. The impact of the changes made to our condensed consolidated financial statements as a result of the adoption of ASU 2014-09, ASU 2016-01, and ASU 2016-16 were as follows: Three Months Ended September 30, 2017 Nine Months Ended September 30, 2017 As Reported Effect of the adoption of As Adjusted As Reported Effect of the adoption of As Adjusted REVENUES: Owned and leased hotels $ 518 $ (2 ) $ 516 $ 1,667 $ (6 ) $ 1,661 Management, franchise, and other fees 122 1 123 374 (7 ) 367 Amortization of management and franchise agreement assets constituting payments to customers — (4 ) (4 ) — (13 ) (13 ) Net management, franchise, and other fees 122 (3 ) 119 374 (20 ) 354 Other revenues 16 (10 ) 6 53 (25 ) 28 Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties 463 (34 ) 429 1,407 (105 ) 1,302 Total revenues 1,119 (49 ) 1,070 3,501 (156 ) 3,345 DIRECT AND SELLING, GENERAL, AND ADMINISTRATIVE EXPENSES: Owned and leased hotels 409 (3 ) 406 1,266 (8 ) 1,258 Depreciation and amortization 92 (4 ) 88 274 (13 ) 261 Other direct costs 9 (6 ) 3 34 (14 ) 20 Selling, general, and administrative 89 — 89 278 — 278 Costs incurred on behalf of managed and franchised properties 463 (38 ) 425 1,407 (94 ) 1,313 Direct and selling, general, and administrative expenses 1,062 (51 ) 1,011 3,259 (129 ) 3,130 Net gains and interest income from marketable securities held to fund rabbi trusts 12 (1 ) 11 37 (2 ) 35 Equity earnings (losses) from unconsolidated hospitality ventures 1 — 1 (1 ) — (1 ) Interest expense (20 ) — (20 ) (61 ) — (61 ) Gains on sales of real estate — — — 34 26 60 Other income (loss), net (19 ) 3 (16 ) 23 9 32 INCOME BEFORE INCOME TAXES 31 4 35 274 6 280 PROVISION FOR INCOME TAXES (14 ) (2 ) (16 ) (100 ) (3 ) (103 ) NET INCOME 17 2 19 174 3 177 NET INCOME AND ACCRETION ATTRIBUTABLE TO NONCONTROLLING INTERESTS (1 ) — (1 ) (1 ) — (1 ) NET INCOME ATTRIBUTABLE TO HYATT HOTELS CORPORATION $ 16 $ 2 $ 18 $ 173 $ 3 $ 176 EARNINGS PER SHARE—Basic Net income $ 0.14 $ 0.01 $ 0.15 $ 1.38 $ 0.02 $ 1.40 Net income attributable to Hyatt Hotels Corporation $ 0.13 $ 0.01 $ 0.14 $ 1.37 $ 0.02 $ 1.39 EARNINGS PER SHARE—Diluted Net income $ 0.14 $ 0.01 $ 0.15 $ 1.37 $ 0.02 $ 1.39 Net income attributable to Hyatt Hotels Corporation $ 0.13 $ 0.01 $ 0.14 $ 1.36 $ 0.02 $ 1.38 December 31, 2017 January 1, 2018 As Reported Effect of the adoption of As Adjusted Effect of the adoption of ASU 2016-01 and ASU 2016-16 As Adjusted ASSETS Investments $ 211 $ 1 $ 212 $ (27 ) $ 185 Intangibles, net 683 (378 ) 305 — 305 Deferred tax assets 242 (101 ) 141 1 142 Other assets 1,006 378 1,384 22 1,406 TOTAL ASSETS 7,672 (100 ) 7,572 (4 ) 7,568 LIABILITIES, REDEEMABLE NONCONTROLLING INTEREST, AND EQUITY Accounts payable $ 175 $ (39 ) $ 136 $ — $ 136 Accrued expenses and other current liabilities 635 (283 ) 352 — 352 Current contract liabilities — 348 348 — 348 Long-term contract liabilities — 424 424 — 424 Other long-term liabilities 1,725 (862 ) 863 — 863 Total liabilities 4,131 (412 ) 3,719 — 3,719 Retained earnings 2,742 312 3,054 64 3,118 Accumulated other comprehensive loss (185 ) — (185 ) (68 ) (253 ) Total equity 3,531 312 3,843 (4 ) 3,839 TOTAL LIABILITIES, REDEEMABLE NONCONTROLLING INTEREST, AND EQUITY 7,672 (100 ) 7,572 (4 ) 7,568 The adoption of ASU 2014-09 resulted in an $11 million reclassification from investing into operating activities during the nine months ended September 30, 2017 related to cash outflows representing payments to customers. There were no impacts to cash provided by or used in financing activities on our condensed consolidated statements of cash flows. Future Adoption of Accounting Standards Leases —In February 2016, the FASB released Accounting Standards Update No. 2016-02 ("ASU 2016-02"), Leases (Topic 842) . ASU 2016-02 requires lessees to record lease contracts on the balance sheet by recognizing a right-of-use asset and lease liability with certain practical expedients available. The accounting for lessors remains largely unchanged. In July 2018, the FASB released Accounting Standards Update No. 2018-11 ("ASU 2018-11"), Leases (Topic 842): Targeted Improvements, providing entities with an additional optional transition method. The provisions of ASU 2016-02, and all related ASUs, are effective for interim periods and fiscal years beginning after December 15, 2018, with early adoption permitted. The real estate leases for a majority of our owned and leased hotels include contingent lease payments, which will be excluded from the impact of ASU 2016-02. We expect to adopt ASU 2016-02 utilizing the optional transition approach allowed under ASU 2018-11 and applying the package of practical expedients beginning January 1, 2019. We continue to evaluate the impact of adopting ASU 2016-02 and expect this ASU may have a material effect to our condensed consolidated financial statements. Financial Instruments - Credit Losses —In June 2016, the FASB released Accounting Standards Update No. 2016-13 ("ASU 2016-13"), Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments . ASU 2016-13 replaces the existing impairment model for most financial assets from an incurred loss impairment model to a current expected credit loss model, which requires an entity to recognize an impairment allowance equal to its current estimate of all contractual cash flows the entity does not expect to collect. ASU 2016-13 also requires credit losses relating to AFS debt securities to be recognized through an allowance for credit losses. The provisions of ASU 2016-13 are to be applied using a modified retrospective approach and are effective for interim periods and fiscal years beginning after December 15, 2019, with early adoption permitted. We are currently evaluating the impact of adopting ASU 2016-13. Fair Value Measurement —In August 2018, the FASB released Accounting Standards Update No. 2018-13 ("ASU 2018-13"), Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement . ASU 2018-13 modifies the disclosure requirements on fair value measurements. The provisions of ASU 2018-13 are to be applied using a prospective or retrospective approach, depending on the amendment, and are effective for interim periods and fiscal years beginning after December 15, 2019, with early adoption permitted. We are currently evaluating the impact of adopting ASU 2018-13. Intangibles - Goodwill and Other - Internal-Use Software —In August 2018, the FASB released Accounting Standards Update No. 2018-15 ("ASU 2018-15"), Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract . ASU 2018-15 aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The provisions of ASU 2018-15 are to be applied using a prospective or retrospective approach and are effective for interim periods and fiscal years beginning after December 15, 2019, with early adoption permitted. We are currently evaluating the impact of adopting ASU 2018-15.

Revenue from Contracts with Cus

Revenue from Contracts with Customers	9 Months Ended
	Sep. 30, 2018
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with Customers	REVENUE FROM CONTRACTS WITH CUSTOMERS Performance Obligations We provide products and services to our customers including third-party hotel owners, guests at owned and leased hotels and spa and fitness centers, and a third-party partner through our co-branded credit card program. The products and services offered are comprised of the following performance obligations: • Management and Franchise Agreements: • License to Hyatt's IP, including the Hyatt brand names —We receive variable consideration from third-party hotel owners in exchange for providing access to our IP, including the Hyatt brand names. The license represents a license of symbolic IP and in exchange for providing the license, Hyatt receives sales-based royalty fees. Royalty fees are generally determined based on a percentage of gross revenues for managed hotels and are generally included in the hotel management fee. Royalty fees for franchised hotels are based on a percentage of gross room revenues and, as applicable, food and beverage revenues. Fees generally are payable on a monthly basis as the third-party hotel owners derive value from access to our IP. Royalty fees are recognized over time through management, franchise, and other fees as services are rendered. Under our franchise agreements, we also receive initial fees from third-party hotel owners. The initial fees do not represent a distinct performance obligation and, therefore, are combined with the royalty fees and recognized through management, franchise, and other fees over the expected customer life. • System-wide services —We provide sales, reservations, technology, and marketing services on behalf of owners of managed and franchised properties. The promise to provide system-wide services is not a distinct performance obligation because it is attendant to the license of our IP. Therefore, the promise to provide system-wide services is combined with the license of our IP to form a single performance obligation. We have two accounting models depending on the terms of the agreements: • Cost reimbursement model —Third-party hotel owners are required to reimburse us for all costs incurred to operate the system-wide programs with no added margin. The reimbursements are recognized over time within revenues for the reimbursement of costs incurred on behalf of managed and franchised properties. We have discretion over how we spend program revenues and, therefore, we are the principal with respect to the promise to provide system-wide services. Expenses incurred related to the system-wide programs are recognized within costs incurred on behalf of managed and franchised properties. The reimbursement of system-wide services is billed on a monthly basis based upon an annual estimate of costs to be incurred and is recognized as revenue commensurate with incurring the cost. To the extent that actual costs vary from estimated costs, a true-up billing or refund is issued to the hotels. Any amounts collected and not yet recognized as revenues are deferred and classified as contract liabilities. Any costs incurred in excess of revenues collected are classified as receivables. • Fund model —Third-party hotel owners are invoiced a system-wide assessment fee primarily based on a percentage of hotel revenues on a monthly basis. We recognize the revenues over time as services are provided through revenues for the reimbursement of costs incurred on behalf of managed and franchised properties. We have discretion over how we spend program revenues and, therefore, we are the principal with respect to system-wide services. Expenses related to the system-wide programs are recognized as incurred through costs incurred on behalf of managed and franchised properties. Over time, we manage the system-wide programs to break-even, but the timing of the revenue received from the owners may not align with the timing of the expenses to operate the programs. Therefore, the difference between the revenues and expenses may impact our net income. • Hotel management agreement services —We provide hotel management agreement services, which form a single performance obligation that qualifies as a series, under the terms of our management agreements. In exchange for providing these services, we receive variable consideration in the form of management fees, which are comprised of base and incentive fees. Incentive fees are typically subject to the achievement of certain profitability targets, and therefore, we apply judgment in determining the amount of incentive fees recognized each period. Incentive fees revenue is recognized to the extent it is probable that we will not reverse a significant portion of the fees in a subsequent period. We rely on internal financial forecasts and historical trends to estimate the amount of incentive fees revenue recognized and the probability that incentive fees will reverse in the future. Generally, base management fees are due and payable on a monthly basis as services are provided, and incentive fees are due and payable based on the terms of the agreement, but at a minimum, incentive fees are billed and collected annually. Revenue is recognized over time through management, franchise, and other fees. Under the terms of certain management agreements, primarily within the United States, we are the employer of hotel employees. When we are the employer, we are reimbursed for costs incurred related to the employee management services with no added margin, and the reimbursements are recognized over time as services are rendered within revenues for the reimbursement of costs incurred on behalf of managed and franchised properties. In jurisdictions in which we are the employer, we have discretion over how employee management services are provided and, therefore, we are the principal and revenues are recognized on a gross basis. • Loyalty program administration —We administer the loyalty program for the benefit of the Hyatt portfolio of properties. Under the program, members earn loyalty points that can be redeemed for future products and services. Points earned by loyalty program members represent a material right to free or discounted goods or services in the future. The loyalty program has one performance obligation that consists of marketing and managing the program and arranging for award redemptions by members. The costs of operating the loyalty program are charged to the properties through an assessment fee based on members’ qualified expenditures. The assessment fee is billed and collected monthly, and the revenue received by the program is deferred until a member redeems points. Upon redemption of points at managed and franchised properties, we recognize the previously deferred revenue through revenues for the reimbursement of costs incurred on behalf of managed and franchised properties, net of redemption expense paid to managed and franchised hotels. We are responsible for arranging for the redemption of promotional awards, but we do not directly fulfill the award night obligation except at owned and leased hotels. Therefore, we are the agent with respect to this performance obligation for managed and franchised hotels, and we are the principal with respect to owned and leased hotels. When loyalty points are redeemed at owned and leased hotels, we recognize revenue through owned and leased hotels revenues. The revenue recognized each period includes an estimate of breakage for the loyalty points that will not be redeemed. Determining breakage involves significant judgment, and we engage third-party actuaries to estimate the ultimate redemption ratios used in the breakage calculations and the amount of revenue recognized upon redemption. Changes to the expected ultimate redemption assumptions are reflected in the current period. • Room rentals and other services provided at owned and leased hotels —We provide room rentals and other services to our guests, including but not limited to spa, laundry, and parking. These products and services each represent individual performance obligations and, in exchange for these services, we receive fixed amounts based on published rates or negotiated contracts. Payment is due in full at the time the services are rendered or the goods are provided. If a guest enters into a package including multiple goods or services, the fixed price is allocated to each distinct good or service based on the stand-alone selling price for each item. Revenue is recognized over time within owned and leased hotels revenues when we transfer control of the good or service to the customer. Room rental revenue is recognized on a daily basis as the guest occupies the room, and revenue related to other products and services is recognized when the product or service is provided to the guest. Hotels commonly enter into arrangements with online travel agencies, trade associations, and other entities. As part of these arrangements, Hyatt may pay the other party a commission or rebate based on the revenue generated through that channel. The determination of whether to recognize revenues gross or net of rebates and commission is made based on the terms of each contract. • Spa and fitness services —Exhale spa and fitness studios provide guests with spa and fitness services as well as retail products in exchange for fixed consideration. Each spa and fitness service represents an individual performance obligation. Payment is due in full and revenue is recognized at the point in time the services are rendered or the products are delivered. If a guest purchases a spa or fitness package, the fixed price is allocated to each distinct product or service based on the published stand-alone selling price for each item, and revenues are recognized as the services are rendered. • Co-branded credit card —We have a co-branded credit card agreement with a third party and under the terms of the agreement, we have various performance obligations: granting a license to the Hyatt name, arranging for the fulfillment of points issued to cardholders through the loyalty program, and awarding cardholders with free room nights upon achievement of certain program milestones. The loyalty points and free room nights represent material rights that can be redeemed for free or discounted services in the future. In exchange for the products and services provided, we receive fixed and variable consideration which is allocated between the performance obligations based upon the relative stand-alone selling prices. Significant judgment is involved in determining the relative stand-alone selling prices, and therefore, we engaged a third-party valuation specialist to assist us. We utilize a relief from royalty method to determine the revenue allocated to the license, which is recognized over time. We utilize observable transaction prices and adjusted market assumptions to determine the stand-alone selling price of a loyalty point, and we utilize a cost plus margin approach to determine the stand-alone selling price of the free room nights. The revenues allocated to loyalty program points and free night awards are deferred and recognized upon redemption, net of redemption expense, as we are deemed to be the agent in the transaction. We are responsible for arranging for the redemption of promotional awards, but we do not directly fulfill the award night obligation except at owned and leased hotels. Therefore, we are the agent for managed and franchised hotels, and we are the principal with respect to owned and leased hotels. When loyalty points and free nights are redeemed at owned and leased hotels, we recognize revenue through owned and leased hotels revenues. We satisfy the following performance obligations over time: the license of Hyatt's symbolic IP, hotel management agreement services, administration of the loyalty program, and the license to our brand name through our co-branded credit card agreement. Each of these performance obligations is considered a sales-based royalty or a series of distinct services, and although the activities to fulfill each of these promises may vary from day to day, the nature of each promise is the same and the customer benefits from the services every day. For each performance obligation satisfied over time, we recognize revenue using an output method based on the value transferred to the customer. Revenue is recognized based on the transaction price and the observable outputs related to each performance obligation. We deem the following to be a faithful depiction of our progress in satisfying these performance obligations: • revenues and operating profits earned by the hotels during the reporting period for access to Hyatt's IP, as it is indicative of the value third-party owners derive; • underlying revenues and operating profits of the hotels for the promise to provide management agreement services to the hotels; • award night redemptions for the administration of the loyalty program performance obligation; and • cardholder spend for the license to the Hyatt name through our co-branded credit card, as it is indicative of the value our partner derives from the use of our name. Within our management agreements, we have two performance obligations: providing a license to Hyatt's IP and providing management agreement services. Although these constitute two separate performance obligations, both obligations represent services that are satisfied over time, and Hyatt recognizes revenue using an output method based on the performance of the hotel. Therefore, we have not allocated the transaction price between these two performance obligations as the allocation would result in the same pattern of revenue recognition. Disaggregated Revenues The following tables present our revenues disaggregated by the nature of the product or service: Three months ended September 30, 2018 Disaggregated revenue stream Owned and leased hotels Americas management and franchising ASPAC management and franchising EAME/SW Asia management and franchising Corporate and other Eliminations Total Rooms revenues $ 276 $ — $ — $ — $ 5 $ (7 ) $ 274 Food and beverage 133 — — — 2 — 135 Other 34 — — — 7 — 41 Owned and leased hotels 443 — — — 14 (7 ) 450 Base management fees — 48 11 9 — (13 ) 55 Incentive management fees — 14 16 10 — (7 ) 33 Franchise fees — 32 1 — — — 33 Other fees — 1 2 2 2 — 7 License fees — — — — 5 — 5 Management, franchise, and other fees — 95 30 21 7 (20 ) 133 Contra revenue — (4 ) — (1 ) — — (5 ) Net management, franchise, and other fees — 91 30 20 7 (20 ) 128 Other revenues — — — — 5 2 7 Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties — 447 24 16 2 — 489 Total $ 443 $ 538 $ 54 $ 36 $ 28 $ (25 ) $ 1,074 Nine months ended September 30, 2018 Disaggregated revenue stream Owned and leased hotels Americas management and franchising ASPAC management and franchising EAME/SW Asia management and franchising Corporate and other Eliminations Total Rooms revenues $ 848 $ — $ — $ — $ 18 $ (26 ) $ 840 Food and beverage 474 — — — 7 — 481 Other 106 — — — 23 — 129 Owned and leased hotels 1,428 — — — 48 (26 ) 1,450 Base management fees — 150 32 25 — (40 ) 167 Incentive management fees — 47 50 29 — (21 ) 105 Franchise fees — 94 2 — — — 96 Other fees — 10 6 4 4 — 24 License fees — — — — 15 — 15 Management, franchise, and other fees — 301 90 58 19 (61 ) 407 Contra revenue — (10 ) (1 ) (4 ) — — (15 ) Net management, franchise, and other fees — 291 89 54 19 (61 ) 392 Other revenues — — — — 22 5 27 Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties — 1,328 67 49 3 — 1,447 Total $ 1,428 $ 1,619 $ 156 $ 103 $ 92 $ (82 ) $ 3,316 Three months ended September 30, 2017 Disaggregated revenue stream Owned and leased hotels Americas management and franchising ASPAC management and franchising EAME/SW Asia management and franchising Corporate and other Eliminations Total Rooms revenues $ 312 $ — $ — $ — $ 6 $ (10 ) $ 308 Food and beverage 152 — — — 3 — 155 Other 46 — — — 7 — 53 Owned and leased hotels 510 — — — 16 (10 ) 516 Base management fees — 47 10 8 — (14 ) 51 Incentive management fees — 15 15 8 — (7 ) 31 Franchise fees — 30 — — — — 30 Other fees — 2 2 1 1 — 6 License fees — — — — 5 — 5 Management, franchise, and other fees — 94 27 17 6 (21 ) 123 Contra revenue — (3 ) — (1 ) — — (4 ) Net management, franchise, and other fees — 91 27 16 6 (21 ) 119 Other revenues — — — — 3 3 6 Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties — 395 19 15 — — 429 Total $ 510 $ 486 $ 46 $ 31 $ 25 $ (28 ) $ 1,070 Nine months ended September 30, 2017 Disaggregated revenue stream Owned and leased hotels Americas management and franchising ASPAC management and franchising EAME/SW Asia management and franchising Corporate and other Eliminations Total Rooms revenues $ 969 $ — $ — $ — $ 18 $ (29 ) $ 958 Food and beverage 544 — — — 9 — 553 Other 128 — — — 22 — 150 Owned and leased hotels 1,641 — — — 49 (29 ) 1,661 Base management fees — 147 28 22 — (47 ) 150 Incentive management fees — 46 44 24 — (19 ) 95 Franchise fees — 84 2 — — — 86 Other fees — 12 5 3 2 — 22 License fees — — — — 14 — 14 Management, franchise, and other fees — 289 79 49 16 (66 ) 367 Contra revenue — (9 ) (1 ) (3 ) — — (13 ) Net management, franchise, and other fees — 280 78 46 16 (66 ) 354 Other revenues 13 — — — 8 7 28 Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties — 1,205 56 41 — — 1,302 Total $ 1,654 $ 1,485 $ 134 $ 87 $ 73 $ (88 ) $ 3,345 Contract Balances Our payments from customers are based on the billing terms established in our contracts. Customer billings are classified as accounts receivable when our right to consideration is unconditional. If our right to consideration is conditional on future performance under the contract, the balance is classified as a contract asset. Under the terms of our management agreements, we earn incentive management fees based on a percentage of hotel profitability. The incentive fee may be contingent on the hotel achieving certain profitability targets. We recognize an incentive fee receivable each month to the extent it is probable that we will not reverse a significant portion of the fees in a subsequent period. However, due to the profitability hurdles in the contract, incentive fees are considered contract assets until the risk related to the achievement of the profitability metric no longer exists. Once the profitability hurdle has been met, the incentive fee receivable balance will be reflected within accounts receivable. Our contract assets were $1 million and insignificant at September 30, 2018 and December 31, 2017 , respectively. At September 30, 2018 , the contract assets were included in receivables, net. As our profitability hurdles are generally calculated on a full-year basis, we expect our contract asset balance to be insignificant at year end. Payments received in advance of performance under the contract are classified as contract liabilities and recognized as revenue as we perform under the contract. September 30, 2018 December 31, 2017 $ Change % Change Current contract liabilities $ 332 $ 348 $ (16 ) (4.6 )% Long-term contract liabilities 433 424 9 2.4 % Total contract liabilities $ 765 $ 772 $ (7 ) (0.8 )% The contract liabilities balances above are comprised of the following: September 30, 2018 December 31, 2017 Advanced deposits $ 55 $ 59 Deferred revenue related to the loyalty program 584 561 Deferred revenue related to system-wide services 14 9 Initial fees received from franchise owners 33 27 Other deferred revenue 79 116 Total contract liabilities $ 765 $ 772 Revenue recognized during the three months ended September 30, 2018 and September 30, 2017 included in the contract liability balance at the beginning of each year was $222 million and $216 million , respectively. Revenue recognized during the nine months ended September 30, 2018 and September 30, 2017 included in the contract liability balance at the beginning of each year was $663 million and $639 million , respectively. This revenue was primarily related to advanced deposits and the loyalty program, which is recognized net of redemption reimbursements paid to third parties. Revenue Allocated to Remaining Performance Obligations Revenue allocated to remaining performance obligations represents contracted revenue that has not yet been recognized, which includes deferred revenue and amounts that will be invoiced and recognized as revenue in future periods. Contracted revenue expected to be recognized in future periods was approximately $110 million at September 30, 2018 , of which we expect to recognize approximately 20% as revenue over the next 12 months and the remainder thereafter. We did not estimate revenues expected to be recognized related to our unsatisfied performance obligations for the following: • Deferred revenue related to the loyalty program and revenue from base and incentive management fees as the revenue is allocated to a wholly unperformed performance obligation in a series; • Revenues related to royalty fees as they are considered sales-based royalty fees; • Revenues received for free nights granted through our co-branded credit card as the awards are required to be redeemed within 12 months; and • Revenues related to advanced bookings at owned and leased hotels as each stay has a duration of 12 months or less. We elected to apply the practical expedient that permits the omission of prior-period information about revenue allocated to future performance obligations under ASU 2014-09.

Debt and Equity Securities

Debt and Equity Securities	9 Months Ended
	Sep. 30, 2018
Investments, Debt and Equity Securities [Abstract]
Debt and Equity Securities	DEBT AND EQUITY SECURITIES We make investments in debt and equity securities that we believe are strategically and operationally important to our business. These investments take the form of (i) equity method investments where we have the ability to significantly influence the operations of the entity, (ii) marketable securities held to fund operating programs and for investment purposes, and (iii) other types of investments. Equity Method Investments September 30, 2018 December 31, 2017 Equity method investments $ 225 $ 185 During the three and nine months ended September 30, 2018 , we recognized $1 million and $11 million , respectively, of net gains in equity earnings (losses) from unconsolidated hospitality ventures on our condensed consolidated statements of income resulting from sales activity related to certain equity method investments within our owned and leased hotels segment. During the three and nine months ended September 30, 2018 , we received $ 7 million and $17 million , respectively, of related sales proceeds. During the nine months ended September 30, 2018 , we completed an asset acquisition of our partner's interest in certain unconsolidated hospitality ventures in Brazil for a net purchase price of approximately $4 million . During the nine months ended September 30, 2018 , we recognized $16 million of impairment charges related to these investments in equity earnings (losses) from unconsolidated hospitality ventures on our condensed consolidated statements of income as the carrying value was in excess of fair value. The fair value was determined to be a Level Three fair value measure, and the impairment was deemed other-than-temporary. During the nine months ended September 30, 2017 , an unconsolidated hospitality venture within our owned and leased hotels segment sold a hotel. We received $4 million of proceeds and recognized a $2 million gain in equity earnings (losses) from unconsolidated hospitality ventures on our condensed consolidated statements of income. During the three and nine months ended September 30, 2017 , we recognized $3 million of impairment charges in equity earnings (losses) from unconsolidated hospitality ventures on our condensed consolidated statements of income. The following table presents summarized financial information for all unconsolidated hospitality ventures in which we hold an investment accounted for under the equity method: Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Total revenues $ 135 $ 196 $ 399 $ 649 Gross operating profit 53 80 141 225 Income (loss) from continuing operations (12 ) 38 (15 ) 36 Net income (loss) (12 ) 38 (15 ) 36 Marketable Securities We hold marketable securities with readily determinable fair values to fund certain operating programs and for investment purposes. Additionally, we periodically transfer available cash and cash equivalents to purchase marketable securities for investment purposes. Marketable Securities Held to Fund Operating Programs —Marketable securities held to fund operating programs, which are recorded at fair value and included on our condensed consolidated balance sheets, were as follows: September 30, 2018 December 31, 2017 Deferred compensation plans held in rabbi trusts (Note 8 and 10) $ 413 $ 402 Loyalty program 391 403 Captive insurance companies 114 111 Total marketable securities held to fund operating programs $ 918 $ 916 Less: current portion of marketable securities held to fund operating programs included in cash and cash equivalents, short-term investments, and prepaids and other assets (157 ) (156 ) Marketable securities held to fund operating programs included in other assets $ 761 $ 760 Net realized and unrealized gains (losses) and interest income from marketable securities held to fund the loyalty program are recognized in other income (loss), net on our condensed consolidated statements of income: Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Loyalty program (Note 18) $ 1 $ 2 $ (2 ) $ 9 Net realized and unrealized gains and interest income from marketable securities held to fund rabbi trusts are recognized in net gains and interest income from marketable securities held to fund rabbi trusts on our condensed consolidated statements of income: Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Unrealized gains $ 5 $ 8 $ 7 $ 24 Realized gains 5 3 12 11 Net gains and interest income from marketable securities held to fund rabbi trusts $ 10 $ 11 $ 19 $ 35 Our captive insurance companies hold marketable securities which are classified as AFS debt securities and are invested in U.S. government agencies, time deposits, and corporate debt securities. We classify these investments as current or long-term, based on their contractual maturity dates, which range from 2018 through 2023. Marketable Securities Held for Investment Purposes —Marketable securities held for investment purposes, which are recorded at fair value and included on our condensed consolidated balance sheets, were as follows: September 30, 2018 December 31, 2017 Interest-bearing money market funds $ 38 $ 26 Time deposits 200 37 Common shares 117 131 Total marketable securities held for investment purposes $ 355 $ 194 Less: current portion of marketable securities held for investment purposes included in cash and cash equivalents and short-term investments (238 ) (63 ) Marketable securities held for investment purposes included in other assets $ 117 $ 131 During 2013, we invested in the common shares of Playa Hotels & Resorts B.V. ("Playa"), and we accounted for our common share investment as an equity method investment. In March 2017, Playa completed a business combination, and Playa Hotels & Resorts N.V. ("Playa N.V.") is now publicly traded on the NASDAQ. Our investment is accounted for as an equity security with a readily determinable fair value as we do not have the ability to significantly influence the operations of the entity. The fair value of the common shares is classified as Level One in the fair value hierarchy as we are able to obtain market available pricing information. The remeasurement of our investment at fair value resulted in $14 million of unrealized losses recognized in other income (loss), net on our condensed consolidated statements of income for the three and nine months ended September 30, 2018 , respectively (see Note 18). We did not sell any shares of common stock during the nine months ended September 30, 2018 . Other Investments Preferred shares —During 2013, we also invested $271 million in Playa for convertible redeemable preferred shares which were classified as an AFS debt security. The fair value of the preferred shares was: 2017 Fair value at January 1 $ 290 Gross unrealized losses (54 ) Realized losses (1) (Note 18) (40 ) Interest income (Note 18) 94 Cash redemption (290 ) Fair value at September 30 $ — (1) The realized losses were the result of a difference between the fair value of the initial investment and the contractual redemption price of $8.40 per share. HTM Debt Securities —At September 30, 2018 and December 31, 2017 , we held $48 million and $47 million , respectively, of investments in HTM debt securities, which are investments in third-party entities that own certain of our hotels and are recorded within other assets in our condensed consolidated balance sheets. The securities are mandatorily redeemable between 2020 and 2025. The amortized cost of our investments approximate fair value. We estimated the fair value of our investments using internally developed discounted cash flow models based on current market inputs for similar types of arrangements. Based upon the lack of available market data, our investments are classified as Level Three within the fair value hierarchy. The primary sensitivity in these calculations is based on the selection of appropriate discount rates. Fluctuations in these assumptions could result in different estimates of fair value. Equity Securities Without a Readily Determinable Fair Value —At September 30, 2018 and December 31, 2017 , we had $9 million and $27 million , respectively, of investments in equity securities without a readily determinable fair value, which represent investments in entities where we do not have the ability to significantly influence the operations of the entity. At December 31, 2017, the securities were included in investments on our condensed consolidated balance sheets. As a result of the adoption of ASU 2016-01 on January 1, 2018, we have reclassified these investments to other assets on our condensed consolidated balance sheet at September 30, 2018 . Due to ongoing operating cash flow shortfalls in the business underlying an equity security during the nine months ended September 30, 2018 , we recognized a $22 million impairment charge of our full investment balance in other income (loss), net on our condensed consolidated statements of income (see Note 18) as we deemed that the carrying value was in excess of the fair value. The fair value was determined to be a Level Three fair value measure. During the three months ended September 30, 2018, the entity in which we hold our investment disposed of its assets and is in the process of winding down. Fair Value —We measured the following financial assets at fair value on a recurring basis: September 30, 2018 Cash and cash equivalents Short-term investments Prepaids and other assets Other assets Level One - Quoted Prices in Active Markets for Identical Assets Interest-bearing money market funds $ 88 $ 88 $ — $ — $ — Mutual funds 413 — — — 413 Common shares 117 — — — 117 Level Two - Significant Other Observable Inputs Time deposits 212 — 204 — 8 U.S. government obligations 158 — — 37 121 U.S. government agencies 46 — 1 6 39 Corporate debt securities 168 — 12 30 126 Mortgage-backed securities 22 — — 5 17 Asset-backed securities 46 — — 11 35 Municipal and provincial notes and bonds 3 — — 1 2 Total $ 1,273 $ 88 $ 217 $ 90 $ 878 December 31, 2017 Cash and cash equivalents Short-term investments Prepaids and other assets Other assets Level One - Quoted Prices in Active Markets for Identical Assets Interest-bearing money market funds $ 75 $ 75 $ — $ — $ — Mutual funds 402 — — — 402 Common shares 131 — — — 131 Level Two - Significant Other Observable Inputs Time deposits 50 — 39 — 11 U.S. government obligations 158 — — 38 120 U.S. government agencies 47 — 2 7 38 Corporate debt securities 179 — 8 33 138 Mortgage-backed securities 25 — — 6 19 Asset-backed securities 40 — — 10 30 Municipal and provincial notes and bonds 3 — — 1 2 Total $ 1,110 $ 75 $ 49 $ 95 $ 891 During the three and nine months ended September 30, 2018 and September 30, 2017 , there were no transfers between levels of the fair value hierarchy. We do not have non-financial assets or non-financial liabilities required to be measured at fair value on a recurring basis.

Financing Receivables

Financing Receivables	9 Months Ended
	Sep. 30, 2018
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
Financing Receivables	FINANCING RECEIVABLES September 30, 2018 December 31, 2017 Unsecured financing to hotel owners $ 158 $ 127 Less: current portion of financing receivables, included in receivables, net (45 ) — Less: allowance for losses (99 ) (108 ) Total long-term financing receivables, net of allowances $ 14 $ 19 Allowance for Losses and Impairments —The following table summarizes the activity in our unsecured financing receivables allowance: 2018 2017 Allowance at January 1 $ 108 $ 100 Provisions 3 4 Other adjustments (2 ) 1 Allowance at June 30 $ 109 $ 105 Provisions 2 1 Write-offs (12 ) — Other adjustments — 1 Allowance at September 30 $ 99 $ 107 Credit Monitoring —Our unsecured financing receivables were as follows: September 30, 2018 Gross loan balance (principal and interest) Related allowance Net financing receivables Gross receivables on non-accrual status Loans $ 58 $ — $ 58 $ — Impaired loans (1) 50 (50 ) — 50 Total loans 108 (50 ) 58 50 Other financing arrangements 50 (49 ) 1 49 Total unsecured financing receivables $ 158 $ (99 ) $ 59 $ 99 (1) The unpaid principal balance was $36 million and the average recorded loan balance was $54 million at September 30, 2018 . December 31, 2017 Gross loan balance (principal and interest) Related allowance Net financing receivables Gross receivables on non-accrual status Loans $ 13 $ — $ 13 $ — Impaired loans (2) 59 (59 ) — 59 Total loans 72 (59 ) 13 59 Other financing arrangements 55 (49 ) 6 49 Total unsecured financing receivables $ 127 $ (108 ) $ 19 $ 108 (2) The unpaid principal balance was $44 million and the average recorded loan balance was $58 million at December 31, 2017 . Fair Value —We estimated the fair value of financing receivables, which are classified as Level Three in the fair value hierarchy, to be $60 million at September 30, 2018 and $20 million at December 31, 2017 .

Acquisitions and Dispositions

Acquisitions and Dispositions	9 Months Ended
	Sep. 30, 2018
Business Combinations [Abstract]
Acquisitions and Dispositions	ACQUISITIONS AND DISPOSITIONS Acquisitions Hyatt Regency Phoenix —During the three months ended September 30, 2018 , we completed an asset acquisition of Hyatt Regency Phoenix from an unrelated third party for a purchase price of approximately $139 million , net of $1 million of proration adjustments. Assets acquired and recorded in our owned and leased hotels segment consist primarily of $136 million of property and equipment. The purchase of Hyatt Regency Phoenix was designated as replacement property in a like-kind exchange (see "Like-Kind Exchange Agreements" below). Hyatt Regency Indian Wells Resort & Spa —During the three months ended September 30, 2018 , we completed an asset acquisition of Hyatt Regency Indian Wells Resort & Spa from an unrelated third party for a net purchase price of approximately $120 million . Assets acquired and recorded in our owned and leased hotels segment consist primarily of $119 million of property and equipment. The purchase of Hyatt Regency Indian Wells Resort & Spa was designated as replacement property in a like-kind exchange (see "Like-Kind Exchange Agreements" below). Exhale —During the nine months ended September 30, 2017, we acquired the equity of Exhale Enterprises, Inc. ("exhale") from an unrelated third party for a purchase price of $16 million , net of $1 million cash acquired. Assets acquired and recorded within corporate and other primarily include a $9 million brand indefinite-lived intangible and $4 million of goodwill, of which $3 million is deductible for tax purposes. Miraval —During the nine months ended September 30, 2017 , we acquired Miraval Group ("Miraval") from an unrelated third party. The transaction included the Miraval Life in Balance Spa brand, Miraval Arizona Resort & Spa in Tucson, Arizona, Travaasa Resort in Austin, Texas, and the option to acquire Cranwell Spa & Golf Resort ("Cranwell") in Lenox, Massachusetts. We subsequently exercised our option and acquired the majority of Cranwell during the nine months ended September 30, 2017 . Total cash consideration for Miraval was $237 million . The following table summarizes the fair value of the identifiable net assets acquired in the acquisition of Miraval, which is recorded within corporate and other: Current assets, net of cash acquired $ 1 Property and equipment 172 Indefinite-lived intangibles (1) 37 Management agreement intangibles (2) 14 Goodwill (3) 21 Other definite-lived intangibles (4) 7 Total assets $ 252 Current liabilities $ 13 Deferred tax liabilities 3 Total liabilities 16 Total net assets acquired attributable to Hyatt Hotels Corporation 236 Total net assets acquired attributable to noncontrolling interests 1 Total net assets acquired $ 237 (1) Includes an intangible attributable to the Miraval brand. (2) Amortized over a 20 year useful life. (3) The goodwill, of which $10 million is deductible for tax purposes, is attributable to Miraval's reputation as a renowned provider of wellness and mindfulness experiences, the extension of the Hyatt brand beyond traditional hotel stays, and the establishment of deferred tax liabilities. (4) Amortized over useful lives ranging from two to seven years. In conjunction with the acquisition of Miraval, a consolidated hospitality venture for which we are the managing partner (the "Miraval Venture") issued $9 million of redeemable preferred shares to unrelated third-party investors. The preferred shares were non-voting, except as required by applicable law and certain contractual approval rights, and had liquidation preference over all other classes of securities within the Miraval Venture. The redeemable preferred shares earned a return of 12% . The shares were classified as a redeemable noncontrolling interest in preferred shares of a subsidiary, which were presented between liabilities and equity on our condensed consolidated balance sheets and carried at the redemption value. During the nine months ended September 30, 2018 , the preferred shares were redeemed for $10 million . Dispositions Hyatt Regency Mexico City —During the three months ended September 30, 2018 , we sold the shares of the entity which owns Hyatt Regency Mexico City, an investment in an unconsolidated hospitality venture, and adjacent land, a portion of which will be developed as Park Hyatt Mexico City, ("HRMC transaction") to an unrelated third party for approximately $405 million and accounted for the transaction as an asset disposition. We entered into long-term management agreements for the properties upon sale. We received $360 million of proceeds and issued a $45 million unsecured financing receivable with a maturity date of less than one year (see Note 5). The sale resulted in a pre-tax gain of approximately $240 million which was recognized in gains on sales of real estate on our condensed consolidated statements of income during the three and nine months ended September 30, 2018 . In connection with the disposition, we recognized a $21 million goodwill impairment charge in asset impairments on our condensed consolidated statements of income during the three and nine months ended September 30, 2018 . As we disposed of the assets within the reporting unit, there were no future cash flows to support the related goodwill which was therefore impaired. The operating results and financial position prior to the sale remain within our owned and leased hotels segment. At June 30, 2018, we classified the assets and liabilities as held for sale on our condensed consolidated balance sheets. Grand Hyatt San Francisco, Andaz Maui at Wailea Resort, and Hyatt Regency Coconut Point Resort and Spa —During the nine months ended September 30, 2018 , we sold Grand Hyatt San Francisco, Andaz Maui at Wailea Resort together with adjacent land, and Hyatt Regency Coconut Point Resort and Spa to an unrelated third party as a portfolio for approximately $992 million , net of closing costs and proration adjustments, and entered into long-term management agreements for the properties upon sale. The sale resulted in a $531 million pre-tax gain which was recognized in gains on sales of real estate on our condensed consolidated statements of income during the nine months ended September 30, 2018 . The operating results and financial position of these hotels prior to the sale remain within our owned and leased hotels segment. Although we concluded the disposal of these properties does not qualify as discontinued operations, the disposal is considered to be material. Pre-tax net income attributable to the three properties was $15 million during the nine months ended September 30, 2018 and $5 million and $20 million during the three and nine months ended September 30, 2017, respectively. Land Held for Development— A wholly owned subsidiary held undeveloped land in Los Cabos, Mexico. During the nine months ended September 30, 2018 , an unrelated third party invested in the subsidiary in exchange for a 50% ownership interest resulting in derecognition of the subsidiary. Our remaining interest was recorded at a fair value of $45 million as an equity method investment. Hyatt Regency Grand Cypress— During the nine months ended September 30, 2017, we sold Hyatt Regency Grand Cypress to an unrelated third party for $202 million , net of closing costs and proration adjustments, and entered into a long-term management agreement with the owner of the property. The sale resulted in a $26 million pre-tax gain which was recognized in gains on sales of real estate on our condensed consolidated statements of income during the nine months ended September 30, 2017. The operating results and financial position of this hotel prior to the sale remain within our owned and leased hotels segment. Hyatt Regency Louisville —During the nine months ended September 30, 2017, we sold Hyatt Regency Louisville to an unrelated third party for $65 million , net of closing costs and proration adjustments, and entered into a long-term franchise agreement with the owner of the property. The sale resulted in a $35 million pre-tax gain which was recognized in gains on sales of real estate on our condensed consolidated statements of income during the nine months ended September 30, 2017. The operating results and financial position of this hotel prior to the sale remain within our owned and leased hotels segment. Land Held for Development— During the nine months ended September 30, 2017, we sold land and construction in progress for $29 million to an unconsolidated hospitality venture in which we have a 50% ownership interest, with the intent to complete the development of a hotel in Glendale, California. Like-Kind Exchange Agreements Periodically, we enter into like-kind exchange agreements upon the disposition or acquisition of certain properties. Pursuant to the terms of these agreements, the proceeds from the sales are placed into an escrow account administered by a qualified intermediary. The proceeds are recognized as restricted cash on our condensed consolidated balance sheets and released (i) if they are utilized as part of a like-kind exchange agreement, (ii) if we do not identify a suitable replacement property within 45 days after the agreement date, or (iii) when a like-kind exchange agreement is not completed within the remaining allowable time period. In conjunction with the sale of Hyatt Regency Coconut Point Resort and Spa during the nine months ended September 30, 2018 , proceeds of $221 million were held as restricted for use in a potential like-kind exchange. During the three months ended September 30, 2018 , $198 million of these proceeds were utilized to acquire Hyatt Regency Phoenix and Hyatt Regency Indian Wells Resort & Spa and the remaining $23 million were released. In conjunction with the sale of Hyatt Regency Scottsdale Resort & Spa at Gainey Ranch during the year ended December 31, 2017, proceeds of $207 million were initially held as restricted for use in a potential like-kind exchange. However, we did not acquire an identified replacement property within the specified 180 day period and the proceeds were released during the nine months ended September 30, 2018. Assets Held For Sale During the nine months ended September 30, 2018 , we signed a purchase and sale agreement to sell a Hyatt House hotel. The assets and liabilities are classified as held for sale and related operating results remain within our owned and leased hotels segment at September 30, 2018 . Assets held for sale primarily consist of $44 million of property and equipment, net, and liabilities held for sale are insignificant. In October 2018, we sold the hotel (see Note 19).

Intangibles, Net

Intangibles, Net	9 Months Ended
	Sep. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Intangibles, Net	INTANGIBLES, NET September 30, 2018 Weighted- average useful lives in years December 31, 2017 Management and franchise agreement intangibles $ 178 23 $ 178 Lease related intangibles 123 110 127 Brand and other indefinite-lived intangibles 53 — 53 Advanced bookings intangibles 15 5 9 Other definite-lived intangibles 8 6 9 377 376 Accumulated amortization (81 ) (71 ) Intangibles, net $ 296 $ 305 Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Amortization expense $ 3 $ 3 $ 10 $ 10

Other Assets

Other Assets	9 Months Ended
	Sep. 30, 2018
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other Assets	OTHER ASSETS September 30, 2018 December 31, 2017 Marketable securities held to fund rabbi trusts (Note 4) $ 413 $ 402 Management and franchise agreement assets constituting payments to customers (1) 385 378 Loyalty program marketable securities (Note 4) 293 298 Common shares of Playa N.V. (Note 4) 117 131 Long-term investments 112 109 Other 75 66 Total other assets $ 1,395 $ 1,384 (1) Includes cash consideration as well as other forms of consideration provided, such as debt repayment or performance guarantees.

Debt

Debt	9 Months Ended
	Sep. 30, 2018
Debt Disclosure [Abstract]
Debt	DEBT Long-term debt, net of current maturities was $1,622 million and $ 1,440 million at September 30, 2018 and December 31, 2017 , respectively. Senior Notes —During the three months ended September 30, 2018 , we issued $400 million of 4.375% senior notes due 2028, at an issue price of 99.866% (the "2028 Notes"). We received $396 million of net proceeds from the sale of the 2028 Notes, after deducting $4 million of underwriting discounts and other offering expenses. We used a portion of the proceeds from the issuance of the 2028 Notes to redeem our 6.875% senior notes due 2019 (the "2019 Notes") and intend to use the remainder for general corporate purposes. Interest on the 2028 Notes is payable semi-annually on March 15 and September 15 of each year, beginning on March 15, 2019. The 2019 Notes and 2028 Notes, together with our $250 million of 5.375% senior notes due 2021 (the "2021 Notes"), $350 million of 3.375% senior notes due 2023 (the "2023 Notes"), and $400 million of 4.850% senior notes due 2026 (the "2026 Notes"), are collectively referred to as the "Senior Notes." Debt Redemption —During the three months ended September 30, 2018 , we redeemed all of our outstanding 2019 Notes, of which there was $196 million of aggregate principal outstanding, at a redemption price of approximately $203 million , which was calculated in accordance with the terms of the 2019 Notes and included principal and accrued interest plus a make-whole premium. The $7 million loss on extinguishment of debt was recognized in other income (loss), net on our condensed consolidated statements of income (see Note 18). Revolving Credit Facility —During the nine months ended September 30, 2018 , we refinanced our $1.5 billion senior unsecured revolving credit facility with a syndicate of lenders, extending the maturity of the facility to January 2023. During the nine months ended September 30, 2018 , we had $20 million of borrowings and repayments on our revolving credit facility, resulting in no outstanding balance and an available line of credit of $1.5 billion at September 30, 2018 . The weighted-average interest rate on these borrowings was 4.85% at September 30, 2018 . At December 31, 2017 , we had no outstanding balance. Fair Value —We estimated the fair value of debt, excluding capital leases, which consists of our Senior Notes, bonds, and other long-term debt. Our Senior Notes and bonds are classified as Level Two due to the use and weighting of multiple market inputs in the final price of the security. We estimated the fair value of other debt instruments using a discounted cash flow analysis based on current market inputs for similar types of arrangements. Based upon the lack of available market data, we have classified our revolving credit facility and other debt instruments as Level Three. The primary sensitivity in these calculations is based on the selection of appropriate discount rates. Fluctuations in these assumptions will result in different estimates of fair value. September 30, 2018 Carrying value Fair value Quoted prices in active markets for identical assets (level one) Significant other observable inputs (level two) Significant unobservable inputs (level three) Debt (1) $ 1,636 $ 1,656 $ — $ 1,591 $ 65 (1) Excludes $13 million of capital lease obligations and $16 million of unamortized discounts and deferred financing fees. December 31, 2017 Carrying value Fair value Quoted prices in active markets for identical assets (level one) Significant other observable inputs (level two) Significant unobservable inputs (level three) Debt (2) $ 1,452 $ 1,546 $ — $ 1,459 $ 87 (2) Excludes $13 million of capital lease obligations and $14 million of unamortized discounts and deferred financing fees. Interest Rate Locks —During the nine months ended September 30, 2018 , we entered into two interest rate locks with a $425 million total notional value and mandatory settlement dates in 2019 and 2021. The interest rate locks hedge a portion of the risk of changes in the benchmark interest rate associated with long-term debt we anticipate issuing in the future. These derivative instruments were designated as cash flow hedges and deemed highly effective at inception. During the three months ended September 30, 2018 , we settled one of the aforementioned interest rate locks with a $225 million notional value upon issuance of the 2028 Notes. The outstanding interest rate lock with a $200 million notional value remains highly effective at September 30, 2018 .

Other Long-Term Liabilities

Other Long-Term Liabilities	9 Months Ended
	Sep. 30, 2018
Other Liabilities [Abstract]
Other Long-Term Liabilities	OTHER LONG-TERM LIABILITIES September 30, 2018 December 31, 2017 Deferred compensation plans held to fund rabbi trusts (Note 4) $ 413 $ 402 Guarantee liabilities (Note 12) 79 104 Self-insurance liabilities (Note 12) 76 69 Deferred income taxes 42 62 Other 227 226 Total other long-term liabilities $ 837 $ 863

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2018
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES The effective income tax rates for the three months ended September 30, 2018 and September 30, 2017 were 7.7% and 45.2% , respectively. The effective income tax rates for the nine months ended September 30, 2018 and September 30, 2017 were 21.2% and 36.7% , respectively. Our effective tax rate decreased for the three and nine months ended September 30, 2018, compared to the three and nine months ended September 30, 2017, primarily due to the Tax Cuts and Jobs Act ("Tax Act") enacted on December 22, 2017, which reduced the U.S. corporate income tax rate from 35% to 21% effective January 1, 2018, as well as a low effective tax rate on the HRMC transaction during the three months ended September 30, 2018. During the three months ended September 30, 2018, we substantially completed our 2017 U.S. Federal Consolidated Income Tax Return. As such, we have refined our initial provisional amounts in relation to Staff Accounting Bulletin No. 118 ("SAB 118"), Income Tax Accounting Implications of the Tax Cuts and Jobs Act , and recognized measurement period adjustments during the three months ended September 30, 2018 related to our net deferred tax revaluation, deemed repatriation tax, and valuation allowance on certain foreign tax credits. We have not changed our indefinite reinvestment assertion, nor have we made a policy election with respect to our global intangible low-tax income. We continue to evaluate new guidance and legislation as it is issued, as well as the impact of state taxes on our provisional amounts upon completion of the 2017 state tax returns during the remainder of 2018. Our accounting for the Tax Act is incomplete, however, we expect to complete our accounting within the measurement period prescribed by SAB 118. During the three months ended September 30, 2018, we revised our provisional amounts and recognized adjustments as follows: • We recognized a $1 million decrease to our provisional expense related to our net deferred tax revaluation. During the year ended December 31, 2017, we recognized a provisional expense of $97 million ; • We recognized an additional $2 million of provisional deemed repatriation tax expense, including state tax impacts. During the year ended December 31, 2017, we recorded a provisional expense of $13 million ; and • We recognized a $2 million decrease to our provisional valuation allowance related to foreign tax credits that are not expected to be utilized in the future. During the year ended December 31, 2017, we recorded a provisional valuation allowance of $15 million . As a result of the adoption of ASU 2014-09, our deferred tax asset related to deferred gains on sales of real estate was no longer required. The reversal of this deferred tax asset was recognized through opening equity resulting in a $52 million reduction in deferred tax expense on our full-year 2017 adjusted financial statements originally recognized as a result of the Tax Act. Unrecognized tax benefits were $93 million at September 30, 2018 and $94 million at December 31, 2017, of which $33 million would impact the effective tax rate, if recognized in either period. During the first quarter of 2017, the Internal Revenue Service ("IRS") issued a "Notice of Deficiency" for our 2009 through 2011 tax years. We disagree with the IRS' assessment related to the inclusion of loyalty program contributions as taxable income to the Company. In the second quarter of 2017, we filed a petition with the U.S. Tax Court for redetermination of the tax liability asserted by the IRS related to the loyalty program. During the three months ended September 30, 2018, the IRS issued a Revenue Agent’s Report for the subsequent audit period covering tax years 2012 through 2014, which reflected the carryover effect of the issue described above currently in U.S. Tax Court. We filed a formal protest with the IRS in October of 2018. If the IRS' position is upheld, it would result in an income tax payment of $177 million (including $33 million of estimated interest, net of federal tax benefit) for all assessed years that would be partially offset by a deferred tax asset. Future tax benefits will be recognized at the reduced U.S. corporate income tax rate, therefore, $59 million of the payment and related interest would have an impact on the effective tax rate, if recognized. We believe we have an adequate uncertain tax position recorded in connection with this matter.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES In the ordinary course of business, we enter into various commitments, guarantees, surety bonds, and letter of credit agreements, which are discussed below: Commitments —At September 30, 2018 , we are committed, under certain conditions, to lend or invest up to $370 million , net of any related letters of credit, in various business ventures. Performance Guarantees —Certain of our contractual agreements with third-party hotel owners require us to guarantee payments to the owners if specified levels of operating profit are not achieved by their hotels. Our most significant performance guarantee relates to four managed hotels in France that we began managing in the second quarter of 2013 ("the four managed hotels in France"), which has a term of seven years and approximately one and three-quarter years remaining. This guarantee has a maximum cap, but does not have an annual cap. The remaining maximum exposure related to our performance guarantees at September 30, 2018 was $319 million , of which €231 million ( $268 million using exchange rates at September 30, 2018 ) related to the four managed hotels in France. We had $37 million and $71 million of total net performance guarantee liabilities at September 30, 2018 and December 31, 2017 , respectively, which included $30 million and $45 million recorded in other long-term liabilities, $7 million and $26 million in accrued expenses and other current liabilities, and insignificant receivables on our condensed consolidated balance sheets, respectively. The four managed hotels in France Other performance guarantees All performance guarantees 2018 2017 2018 2017 2018 2017 Beginning balance, January 1 $ 58 $ 66 $ 13 $ 13 $ 71 $ 79 Initial guarantee obligation liability — — — 3 — 3 Amortization of initial guarantee obligation liability into income (8 ) (7 ) (2 ) (2 ) (10 ) (9 ) Performance guarantee expense (income), net 36 41 (1 ) (1 ) 35 40 Net payments during the period (50 ) (49 ) (5 ) (1 ) (55 ) (50 ) Foreign currency exchange, net — 6 — — — 6 Ending balance, June 30 $ 36 $ 57 $ 5 $ 12 $ 41 $ 69 Amortization of initial guarantee obligation liability into income (3 ) (4 ) (1 ) (1 ) (4 ) (5 ) Performance guarantee expense 3 13 3 1 6 14 Net (payments) receipts during the period (9 ) (16 ) 2 1 (7 ) (15 ) Foreign currency exchange, net 1 3 — — 1 3 Ending balance, September 30 $ 28 $ 53 $ 9 $ 13 $ 37 $ 66 Additionally, we enter into certain management contracts where we have the right, but not an obligation, to make payments to certain hotel owners if their hotels do not achieve specified levels of operating profit. If we choose not to fund the shortfall, the hotel owner has the option to terminate the management contract. At September 30, 2018 and December 31, 2017 , there were no amounts recognized on our condensed consolidated balance sheets related to these performance test clauses. Debt Repayment and Other Guarantees —We enter into various debt repayment and other guarantees in order to assist property owners in obtaining third-party financing or to obtain more favorable borrowing terms. Included within debt repayment and other guarantees are the following: Property description Maximum potential future payments Maximum exposure net of recoverability from third parties Other long-term liabilities recorded at September 30, 2018 Other long-term liabilities recorded at December 31, 2017 Year of guarantee expiration Hotel property in Washington State (1), (3), (4), (5) $ 215 $ — $ 19 $ 26 2020 Hotel properties in India (2), (3) 166 166 11 17 2020 Hotel property in Massachusetts (6) 102 102 1 1 2020 Hotel and residential properties in Brazil (1), (4) 95 40 3 4 various, through 2021 Hotel property in Oregon (1), (5) 61 10 4 — various, through 2022 Hotel properties in California (1) 31 13 4 6 various, through 2021 Hotel property in Minnesota 25 25 1 2 2021 Hotel property in Arizona (1), (4) 25 — 1 1 2019 Other (1) 30 19 5 2 various, through 2022 Total $ 750 $ 375 $ 49 $ 59 (1) We have agreements with our unconsolidated hospitality venture partners, the respective hotel owners, or other third parties to recover certain amounts funded under the debt repayment guarantee; the recoverability mechanism may be in the form of cash, financing receivable, or HTM debt security. (2) Debt repayment guarantee is denominated in Indian rupees and translated using exchange rates at September 30, 2018 . We have the contractual right to recover amounts funded from the unconsolidated hospitality venture, which is a related party. We expect our maximum exposure to be $83 million , taking into account our partner's 50% ownership interest in the unconsolidated hospitality venture. (3) Under certain events or conditions, we have the right to force the sale of the property(ies) in order to recover amounts funded. (4) If certain funding thresholds are met or if certain events occur, we have the ability to assume control of the property . With respect to properties in Brazil, this right only exists for the residential property. (5) We are subject to a completion guarantee whereby the parties agree to substantially complete the construction of the project by a specified date. In the event of default, we are obligated to complete construction using the funds available from the outstanding loan. Any additional funds paid by us are subject to partial recovery in the form of cash or HTM debt security. At September 30, 2018 , the maximum potential future payments and maximum exposure net of recoverability from third parties under the completion guarantees are $45 million and $4 million , respectively. (6) We are subject to a completion guarantee whereby the parties agree to substantially complete the construction of the project by a specified date. In the event of default, we are obligated to complete construction and any additional funds paid by us are not recoverable. At September 30, 2018 , we are not aware of, nor have we received notification that hotel owners are not current on their debt service obligations where we have provided a debt repayment guarantee. Guarantee Liabilities Fair Value —We estimated the fair value of our guarantees to be $151 million and $177 million at September 30, 2018 and December 31, 2017 , respectively. Based upon the lack of available market data, we have classified our guarantees as Level Three in the fair value hierarchy. Insurance —We obtain commercial insurance for potential losses for general liability, workers' compensation, automobile liability, employment practices, crime, property, cyber risk, and other miscellaneous coverages. A portion of the risk is retained on a self-insurance basis primarily through U.S.-based and licensed captive insurance companies that are wholly owned subsidiaries of Hyatt and generally insure our deductibles and retentions. Reserve requirements are established based on actuarial projections of ultimate losses. Losses estimated to be paid within 12 months are $37 million and $32 million at September 30, 2018 and December 31, 2017 , respectively, and are classified within accrued expenses and other current liabilities on our condensed consolidated balance sheets, while losses expected to be payable in future periods are $76 million and $69 million at September 30, 2018 and December 31, 2017 , respectively, and are included in other long-term liabilities on our condensed consolidated balance sheets. At September 30, 2018 , $9 million of standby letters of credit were issued to provide collateral for the estimated claims, which are guaranteed by us. Collective Bargaining Agreements —At September 30, 2018 , approximately 24% of our U.S.-based employees were covered by various collective bargaining agreements, generally providing for basic pay rates, working hours, other conditions of employment, and orderly settlement of labor disputes. Certain employees are covered by union-sponsored, multi-employer pension and health plans pursuant to agreements between us and various unions. Generally, labor relations have been maintained in a normal and satisfactory manner, and we believe our employee relations are good. Surety Bonds —Surety bonds issued on our behalf were $26 million at September 30, 2018 and primarily relate to workers’ compensation, taxes, licenses, and utilities related to our lodging operations. Letters of Credit —Letters of credit outstanding on our behalf at September 30, 2018 were $297 million , which relate to our ongoing operations, hotel properties under development in the U.S., including one unconsolidated hospitality venture, collateral for estimated insurance claims, and securitization of our performance under our debt repayment guarantees associated with the hotel properties in India and the residential property in Brazil, which are only called upon if we default on our guarantees. The letters of credit outstanding do not reduce the available capacity under our revolving credit facility (see Note 9 ). Capital Expenditures —As part of our ongoing business operations, significant expenditures are required to complete renovation projects that have been approved. Other —We act as general partner of various partnerships owning hotel properties that are subject to mortgage indebtedness. These mortgage agreements generally limit the lender's recourse to security interests in assets financed and/or other assets of the partnership(s) and/or the general partner(s) thereof. In conjunction with financing obtained for our unconsolidated hospitality ventures, certain managed hotels, and other properties, we may provide standard indemnifications to the lender for loss, liability, or damage occurring as a result of our actions or actions of the other unconsolidated hospitality venture partners, respective hotel owners, or other third parties. As a result of certain dispositions, we have agreed to provide customary indemnifications to third-party purchasers for certain liabilities incurred prior to sale and for breach of certain representations and warranties made during the sales process, such as representations of valid title, authority, and environmental issues that may not be limited by a contractual monetary amount. These indemnification agreements survive until the applicable statutes of limitation expire or until the agreed upon contract terms expire. We are subject, from time to time, to various claims and contingencies related to lawsuits, taxes, and environmental matters, as well as commitments under contractual obligations. Many of these claims are covered under our current insurance programs, subject to deductibles. Although the ultimate liability for these matters cannot be determined at this point, based on information currently available, we do not expect the ultimate resolution of such claims and litigation to have a material effect on our condensed consolidated financial statements. During the nine months ended September 30, 2018, we received a notice from the Indian tax authorities assessing additional service tax on our operations in India. We appealed this decision and do not believe a loss is probable, and therefore, we have not recognized a liability in connection with this matter. Our maximum exposure is not expected to exceed $17 million .

Equity

Equity	9 Months Ended
	Sep. 30, 2018
Equity [Abstract]
Equity	EQUITY Stockholders' equity Noncontrolling interests in consolidated subsidiaries Total equity Balance at January 1, 2018 $ 3,833 $ 6 $ 3,839 Net income attributable to Hyatt Hotels Corporation 725 — 725 Other comprehensive income 51 — 51 Repurchase of common stock (654 ) — (654 ) Dividends (52 ) — (52 ) Directors compensation 2 — 2 Employee stock plan issuance 3 — 3 Share-based payment activity 21 — 21 Balance at September 30, 2018 $ 3,929 $ 6 $ 3,935 Stockholders' Noncontrolling interests Total equity Balance at January 1, 2017 (a) $ 4,075 $ 5 $ 4,080 Net income attributable to Hyatt Hotels Corporation 176 — 176 Other comprehensive income 105 — 105 Contributions from noncontrolling interests — 1 1 Repurchase of common stock (555 ) — (555 ) Directors compensation 2 — 2 Employee stock plan issuance 3 — 3 Share-based payment activity 20 — 20 Balance at September 30, 2017 $ 3,826 $ 6 $ 3,832 (a) Balances have been adjusted for the adoption of ASU 2014-09 with an opening adjustment to retained earnings of $172 million. Accumulated Other Comprehensive Loss Balance at Current period other comprehensive income (loss) before reclassification Amount reclassified from accumulated other comprehensive loss (a) Balance at September 30, 2018 Foreign currency translation adjustments $ (266 ) $ 9 $ 62 $ (195 ) Unrecognized pension cost (7 ) — — (7 ) Unrealized losses on derivative instruments (3 ) 3 — — Accumulated other comprehensive loss $ (276 ) $ 12 $ 62 $ (202 ) (a) The amounts reclassified from accumulated other comprehensive loss include the gain recognized in gains on sales of real estate related to the HRMC transaction (see Note 6). Balance at Current period other comprehensive income (loss) before reclassification Amount reclassified from accumulated other comprehensive loss (b) Balance at September 30, 2018 Foreign currency translation adjustments $ (243 ) $ (29 ) $ 77 $ (195 ) Unrecognized pension cost (7 ) — — (7 ) Unrealized losses on derivative instruments (3 ) 3 — — Accumulated other comprehensive loss $ (253 ) $ (26 ) $ 77 $ (202 ) (b) The amounts reclassified from accumulated other comprehensive loss include the net gain recognized in gains on sales of real estate related to the derecognition of a wholly owned subsidiary and the HRMC transaction (see Note 6). Balance at Current period other comprehensive income (loss) before reclassification Amount reclassified from accumulated other comprehensive loss Balance at Foreign currency translation adjustments $ (239 ) $ 11 $ — $ (228 ) Unrealized gains on AFS securities 78 (12 ) — 66 Unrecognized pension cost (7 ) — — (7 ) Unrealized losses on derivative instruments (4 ) 1 — (3 ) Accumulated other comprehensive loss $ (172 ) $ — $ — $ (172 ) Balance at Current period other comprehensive income (loss) before reclassification Amount reclassified from accumulated other comprehensive loss Balance at Foreign currency translation adjustments $ (299 ) $ 71 $ — $ (228 ) Unrealized gains on AFS securities (c) 33 8 25 66 Unrecognized pension cost (7 ) — — (7 ) Unrealized losses on derivative instruments (4 ) 1 — (3 ) Accumulated other comprehensive loss $ (277 ) $ 80 $ 25 $ (172 ) (c) The presentation above was revised to reflect the gross impact of the redemption of certain Playa securities (see Note 4), which was previously presented on a net basis within current period other comprehensive income (loss) before reclassification. The revised presentation above reflects the $40 million realized loss ($25 million net of tax) recognized in other income (loss), net (see Note 18) in the period of redemption as an amount reclassified from accumulated other comprehensive loss. Share Repurchase — During 2017 and 2016, our board of directors authorized the repurchase of up to $1,250 million and $500 million , respectively, of our common stock. In October 2018, our board of directors authorized the additional repurchase of up to $750 million of our common stock (see Note 19). These repurchases may be made from time to time in the open market, in privately negotiated transactions, or otherwise, including pursuant to a Rule 10b5-1 plan or an accelerated share repurchase transaction, at prices we deem appropriate and subject to market conditions, applicable law, and other factors deemed relevant in our sole discretion. The common stock repurchase program applies to our Class A common stock and our Class B common stock. The common stock repurchase program does not obligate us to repurchase any dollar amount or number of shares of common stock and the program may be suspended or discontinued at any time. We entered into the following accelerated share repurchase ("ASR") programs with third-party financial institutions to repurchase Class A shares: Total number of shares repurchased (1) Weighted-average price per share Total cash paid May 2018 ASR 2,481,341 $ 80.60 $ 200 August 2017 ASR (2) (3) 1,401,787 $ 57.07 $ 100 March 2017 ASR (2) 5,393,669 $ 55.62 $ 300 (1) The delivery of shares resulted in a reduction in weighted-average common shares outstanding for basic and diluted earnings per share. (2) The August 2017 ASR and the March 2017 ASR are collectively referred to as the "2017 ASR Agreements." (3) At September 30, 2017, the remaining yet to be delivered shares totaled $20 million and were accounted for as an equity-classified forward contract. The August 2017 ASR was settled subsequent to the nine months ended September 30, 2017 for 264,697 shares. Overall, we repurchased 1,666,484 shares at a weighted-average price per share of $60.01 . During the nine months ended September 30, 2018 , we repurchased 8,560,012 shares of common stock, including settlement of the May 2018 ASR and 244,260 shares representing the settlement of an ASR program entered into during the fourth quarter of 2017 ("November 2017 ASR"). The shares of common stock were repurchased at a weighted-average price of $78.42 per share and an aggregate purchase price of $674 million , excluding related insignificant expenses. The aggregate purchase price includes $20 million of shares delivered in the settlement of the November 2017 ASR in 2018, for which payment was made during 2017. Total shares repurchased during the nine months ended September 30, 2018 represented approximately 7% of our total shares of common stock outstanding at December 31, 2017 . During the nine months ended September 30, 2017 , we repurchased 9,492,729 shares of common stock, including shares repurchased pursuant to the 2017 ASR Agreements. The shares of common stock were repurchased at a weighted-average price of $56.37 per share for an aggregate purchase price of $535 million , excluding related insignificant expenses. The shares repurchased during the nine months ended September 30, 2017 represented approximately 7% of our total shares of common stock outstanding at December 31, 2016 . The shares of Class A common stock repurchased on the open market were retired and returned to the status of authorized and unissued shares, while the shares of Class B common stock repurchased were retired and the total number of authorized Class B shares was reduced by the number of shares retired during the three months ended September 30, 2018 (see Note 15). At September 30, 2018 , we had $210 million remaining under the share repurchase authorization. Dividend — During the nine months ended September 30, 2018 , we paid cash dividends to Class A and Class B shareholders of record as follows: Date Declared Dividend per share amount Date of record Date paid February 14, 2018 $ 0.15 March 22, 2018 March 29, 2018 May 16, 2018 $ 0.15 June 19, 2018 June 28, 2018 July 31, 2018 $ 0.15 September 6, 2018 September 20, 2018

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2018
Share-based Compensation [Abstract]
Stock-Based Compensation	STOCK-BASED COMPENSATION As part of our Long- Term Incentive Plan, we award Stock Appreciation Rights ("SARs"), Restricted Stock Units ("RSUs"), and Performance Share Units ("PSUs") to certain employees. Compensation expense and unearned compensation presented below exclude amounts related to employees of our managed hotels and other employees whose payroll is reimbursed, as this expense has been and will continue to be reimbursed by our third-party hotel owners and is recognized within revenues for the reimbursement of costs incurred on behalf of managed and franchised properties and costs incurred on behalf of managed and franchised properties on our condensed consolidated statements of income. Stock-based compensation expense included in selling, general, and administrative expense on our condensed consolidated statements of income related to these awards was as follows: Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 SARs $ 1 $ 1 $ 10 $ 10 RSUs 2 3 14 14 PSUs 2 1 4 2 Total $ 5 $ 5 $ 28 $ 26 SARs —During the nine months ended September 30, 2018 , we granted 504,760 SARs to employees with a weighted-average grant date fair value of $21.18 . During the nine months ended September 30, 2017 , we granted 625,740 SARs to employees with a weighted-average grant date fair value of $16.42 . RSUs — During the nine months ended September 30, 2018 , we granted 272,549 RSUs to employees with a weighted-average grant date fair value of $79.90 . During the nine months ended September 30, 2017 , we granted 483,302 RSUs to employees with a weighted-average grant date fair value of $ 53.77 . PSUs —During the nine months ended September 30, 2018 , we granted 89,441 PSUs to our executive officers, with a weighted-average grant date fair value of $82.10 . The performance period applicable to such PSUs is a three year period beginning January 1, 2018 and ending December 31, 2020. During the nine months ended September 30, 2017 , we granted 102,115 PSUs to our executive officers, with a weighted-average grant date fair value of $52.65 . Our total unearned compensation for our stock- based compensation programs at September 30, 2018 was $5 million for SARs, $17 million for RSUs, and $7 million for PSUs, which will primarily be recognized in stock-based compensation expense over a weighted-average period of three years with respect to SARs and RSUs, and two years with respect to PSUs.

Related-Party Transactions

Related-Party Transactions	9 Months Ended
	Sep. 30, 2018
Related Party Transactions [Abstract]
Related-Party Transactions	RELATED-PARTY TRANSACTIONS In addition to those included elsewhere in the Notes to our condensed consolidated financial statements, related- party transactions entered into by us are summarized as follows: Legal Services —A partner in a law firm that provided services to us throughout the nine months ended September 30, 2018 and September 30, 2017 is the brother-in-law of our Executive Chairman. We incurred $ 2 million of legal fees with this firm during each of the three months ended September 30, 2018 and September 30, 2017 . We incurred $5 million and $ 3 million of legal fees with this firm during the nine months ended September 30, 2018 and September 30, 2017 , respectively. At September 30, 2018 and December 31, 2017 , we had $2 million and insignificant amounts due to the law firm, respectively. Equity Method Investments —We have equity method investments in entities that own properties for which we receive management or franchise fees. We recognized $5 million and $ 6 million of fees for the three months ended September 30, 2018 and September 30, 2017 , respectively. We recognized $ 15 million and $ 18 million of fees for the nine months ended September 30, 2018 and September 30, 2017 , respectively. In addition, in some cases we provide loans (see Note 5 ) or guarantees (see Note 12 ) to these entities. During the three months ended September 30, 2018 and September 30, 2017 , we recognized $2 million and $ 1 million , respectively, of income related to these guarantees. During the nine months ended September 30, 2018 and September 30, 2017 , we recognized $ 5 million and $ 4 million , respectively, of income related to these guarantees. At September 30, 2018 and December 31, 2017 , we had $ 14 million and $ 11 million , respectively, of receivables due from these properties. At September 30, 2018, our ownership interest in these unconsolidated hospitality ventures varies from 24% to 50% . See Note 4 for further details regarding these investments. Class B Share Conversion —During the three and nine months ended September 30, 2018 , 950,161 shares and 1,207,355 shares of Class B common stock, respectively, were converted on a share-for-share basis into shares of our Class A common stock, $0.01 par value per share. During the three and nine months ended September 30, 2017 , 10,154,050 shares and 14,926,420 shares of Class B common stock, respectively, were converted on a share-for-share basis into shares of our Class A common stock, $0.01 par value per share. Of the shares of Class B common stock that were converted into shares of Class A common stock, 257,194 shares have been retired. The retirements thereby reduce the shares of Class B common stock authorized and outstanding. The remaining 950,161 shares of Class B common stock were retired subsequent to September 30, 2018. Class B Share Repurchase —During the nine months ended September 30, 2018 , we repurchased 2,427,000 shares of Class B common stock for a weighted average price of $ 78.11 per share, for an aggregate purchase price of approximately $ 190 million . The shares repurchased represented approximately 2% of our total shares of common stock outstanding prior to the repurchase. During the three and nine months ended September 30, 2017 , we repurchased 1,813,459 shares of Class B common stock for a weighted average price of $ 59.29 per share, for an aggregate purchase price of approximately $ 107 million . The shares repurchased represented approximately 2% of our total shares of common stock outstanding prior to the repurchase. The shares of Class B common stock were repurchased in privately negotiated transactions from trusts for the benefit of certain Pritzker family members and limited partnerships owned indirectly by trusts for the benefit of certain Pritzker family members and were retired, thereby reducing the shares of Class B common stock authorized and outstanding by the repurchased share amount.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2018
Segment Reporting [Abstract]
Segment Information	SEGMENT INFORMATION Our reportable segments are components of the business which are managed discretely and for which discrete financial information is reviewed regularly by the chief operating decision maker ("CODM") to assess performance and make decisions regarding the allocation of resources. Our CODM is our President and Chief Executive Officer. We define our reportable segments as follows: • Owned and leased hotels —This segment derives its earnings from owned and leased hotel properties located predominantly in the United States but also in certain international locations and for purposes of segment Adjusted EBITDA, includes our pro rata share of the Adjusted EBITDA of our unconsolidated hospitality ventures, based on our ownership percentage of each venture. Adjusted EBITDA includes intercompany expenses related to management fees paid to the Company's management and franchising segments, which are eliminated in consolidation. Intersegment revenues relate to promotional award redemptions earned by our owned and leased hotels related to our co-branded credit card and revenues earned under the loyalty program for stays at our owned and leased hotels and are eliminated in consolidation. • Americas management and franchising —This segment derives its earnings primarily from a combination of hotel management and licensing of our portfolio of brands to franchisees located in the United States, Latin America, Canada, and the Caribbean. This segment's revenues also include the reimbursement of costs incurred on behalf of managed and franchised properties. These costs relate primarily to payroll costs at managed properties where the Company is the employer, as well as costs associated with reservations, sales, marketing, technology, and the loyalty program operated on behalf of owners of managed and franchised properties. The intersegment revenues relate to management fees earned from the Company's owned and leased hotels and are eliminated in consolidation. • ASPAC management and franchising —This segment derives its earnings primarily from a combination of hotel management and licensing of our portfolio of brands to franchisees located in Southeast Asia, Greater China, Australia, South Korea, Japan, and Micronesia. This segment's revenues also include the reimbursement of costs incurred on behalf of managed and franchised properties. These costs relate primarily to reservations, sales, marketing, technology, and the loyalty program operated on behalf of owners of managed and franchised properties. The intersegment revenues relate to management fees earned from the Company's owned hotel and are eliminated in consolidation. • EAME/SW Asia management and franchising —This segment derives its earnings primarily from a combination of hotel management and licensing of our portfolio of brands to franchisees located in Europe, Africa, the Middle East, India, Central Asia, and Nepal. This segment's revenues also include the reimbursement of costs incurred on behalf of managed and franchised properties. These costs relate primarily to reservations, sales, marketing, technology, and the loyalty program operated on behalf of owners of managed and franchised properties. The intersegment revenues relate to management fees earned from the Company's owned and leased hotels and are eliminated in consolidation. Our CODM evaluates performance based on owned and leased hotels revenues, management, franchise, and other fees revenues, and Adjusted EBITDA. Adjusted EBITDA, as we define it, is a non-GAAP measure. We define Adjusted EBITDA as net income attributable to Hyatt Hotels Corporation plus our pro rata share of unconsolidated hospitality ventures Adjusted EBITDA based on our ownership percentage of each venture, adjusted to exclude interest expense; provision for income taxes; depreciation and amortization; Contra revenue; revenues for the reimbursement of costs incurred on behalf of managed and franchised properties; costs incurred on behalf of managed and franchised properties; equity earnings (losses) from unconsolidated hospitality ventures; stock-based compensation expense; gains (losses) on sales of real estate; asset impairments; and other income (loss), net. Effective January 1, 2018, we made two modifications to our definition of Adjusted EBITDA with the implementation of ASU 2014-09. Our definition has been updated to exclude Contra revenue which was previously recognized as amortization expense. As this is strictly a matter of financial presentation, we have excluded Contra revenue in order to be consistent with our prior treatment and to reflect the way in which we manage our business. We have also excluded revenues for the reimbursement of costs incurred on behalf of managed and franchised properties and costs incurred on behalf of managed and franchised properties. These revenues and costs previously netted to zero within Adjusted EBITDA. Under ASU 2014-09, the recognition of certain revenue differs from the recognition of related costs, creating timing differences that would otherwise impact Adjusted EBITDA. We have not changed our management of these revenues or expenses, nor do we consider these timing differences to be reflective of our core operations. These changes reflect how our CODM evaluates each segment's performance and also facilitate comparison with our competitors. We have applied this change to 2017 historical results to allow for comparability between the periods presented. The table below shows summarized consolidated financial information by segment. Included within corporate and other are the results of Miraval, exhale, Hyatt Residence Club license fees, results related to our co- branded credit card, and unallocated corporate expenses. Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Owned and leased hotels Owned and leased hotels revenues $ 443 $ 510 $ 1,428 $ 1,641 Other revenues — — — 13 Intersegment revenues (a) 7 10 26 29 Adjusted EBITDA 91 104 324 382 Depreciation and amortization 65 75 197 222 Americas management and franchising Management, franchise, and other fees revenues 95 94 301 289 Contra revenue (4 ) (3 ) (10 ) (9 ) Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties 447 395 1,328 1,205 Intersegment revenues (a) 16 18 52 58 Adjusted EBITDA 83 81 266 250 Depreciation and amortization 2 2 6 6 ASPAC management and franchising Management, franchise, and other fees revenues 30 27 90 79 Contra revenue — — (1 ) (1 ) Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties 24 19 67 56 Intersegment revenues (a) 1 — 1 1 Adjusted EBITDA 19 17 55 48 Depreciation and amortization 1 — 1 — EAME/SW Asia management and franchising Management, franchise, and other fees revenues 21 17 58 49 Contra revenue (1 ) (1 ) (4 ) (3 ) Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties 16 15 49 41 Intersegment revenues (a) 3 3 8 7 Adjusted EBITDA 12 10 33 26 Depreciation and amortization — — — — Corporate and other Revenues 26 25 89 73 Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties 2 — 3 — Intersegment revenues (a) (2 ) (3 ) (5 ) (7 ) Adjusted EBITDA (29 ) (33 ) (85 ) (90 ) Depreciation and amortization 13 11 39 33 Eliminations Revenues (a) (25 ) (28 ) (82 ) (88 ) Adjusted EBITDA (1 ) (2 ) 2 3 TOTAL Revenues $ 1,074 $ 1,070 $ 3,316 $ 3,345 Adjusted EBITDA 175 177 595 619 Depreciation and amortization 81 88 243 261 (a) Intersegment revenues are included in management, franchise, and other fees revenues, owned and leased hotels revenues, and other revenues and eliminated in Eliminations. The table below provides a reconciliation of our net income attributable to Hyatt Hotels Corporation to EBITDA and a reconciliation of EBITDA to our consolidated Adjusted EBITDA: Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Net income attributable to Hyatt Hotels Corporation $ 237 $ 18 $ 725 $ 176 Interest expense 19 20 57 61 Provision for income taxes 19 16 194 103 Depreciation and amortization 81 88 243 261 EBITDA 356 142 1,219 601 Contra revenue 5 4 15 13 Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties (489 ) (429 ) (1,447 ) (1,302 ) Costs incurred on behalf of managed and franchised properties 487 425 1,447 1,313 Equity (earnings) losses from unconsolidated hospitality ventures 6 (1 ) 17 1 Stock-based compensation expense (Note 14) 5 5 28 26 Gains on sales of real estate (Note 6) (239 ) — (769 ) (60 ) Asset impairments 21 — 21 — Other (income) loss, net (Note 18) 9 16 22 (32 ) Pro rata share of unconsolidated hospitality ventures Adjusted EBITDA 14 15 42 59 Adjusted EBITDA $ 175 $ 177 $ 595 $ 619

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2018
Earnings Per Share [Abstract]
Earnings Per Share	EARNINGS PER SHARE The calculation of basic and diluted earnings per share, including a reconciliation of the numerator and denominator, are as follows: Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Numerator: Net income $ 237 $ 19 $ 725 $ 177 Net income and accretion attributable to noncontrolling interests — (1 ) — (1 ) Net income attributable to Hyatt Hotels Corporation $ 237 $ 18 $ 725 $ 176 Denominator: Basic weighted average shares outstanding 111,356,759 124,010,961 114,829,210 126,399,472 Share-based compensation and equity-classified forward contract 1,867,226 1,396,922 1,954,863 1,315,462 Diluted weighted average shares outstanding 113,223,985 125,407,883 116,784,073 127,714,934 Basic Earnings Per Share: Net income $ 2.12 $ 0.15 $ 6.31 $ 1.40 Net income and accretion attributable to noncontrolling interests — (0.01 ) — (0.01 ) Net income attributable to Hyatt Hotels Corporation $ 2.12 $ 0.14 $ 6.31 $ 1.39 Diluted Earnings Per Share: Net income $ 2.09 $ 0.15 $ 6.21 $ 1.39 Net income and accretion attributable to noncontrolling interests — (0.01 ) — (0.01 ) Net income attributable to Hyatt Hotels Corporation $ 2.09 $ 0.14 $ 6.21 $ 1.38 The computations of diluted net income per share for the three and nine months ended September 30, 2018 and September 30, 2017 do not include the following shares of Class A common stock assumed to be issued as stock- settled SARs and RSUs because they are anti- dilutive. Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 SARs — 29,100 — 32,300 RSUs — 400 — 200

Other Income (Loss), Net

Other Income (Loss), Net	9 Months Ended
	Sep. 30, 2018
Other Income and Expenses [Abstract]
Other Income (Loss), Net	OTHER INCOME (LOSS), NET Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Interest income (Note 4) $ 7 $ 5 $ 19 $ 106 Depreciation recovery 5 7 16 19 Performance guarantee liability amortization (Note 12) 4 5 14 14 Debt repayment guarantee liability amortization (Note 12) 2 3 8 8 Cease use liability — (21 ) — (21 ) Realized losses (Note 4) — — (2 ) (41 ) Impairment of an equity security without a readily determinable fair value (Note 4) — — (22 ) — Performance guarantee expense, net (Note 12) (6 ) (14 ) (41 ) (54 ) Loss on extinguishment of debt (Note 9) (7 ) — (7 ) — Unrealized (losses) gains (Note 4) (15 ) — (21 ) 3 Other, net 1 (1 ) 14 (2 ) Other income (loss), net $ (9 ) $ (16 ) $ (22 ) $ 32 During the year ended December 31, 2017, we relocated our corporate headquarters and recognized a $21 million cease use liability.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2018
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTS On October 6, 2018, we entered into a Membership Interest Purchase Agreement ("Purchase Agreement") to acquire the outstanding equity interests of Two Roads Hospitality LLC for a purchase price of approximately $480 million , subject to adjustments, and variable consideration of up to an additional $120 million . Our Executive Chairman is the brother of the Co-Chairman of Two Roads Hospitality LLC and Founding Partner and Director of Geolo Capital LP, which is an affiliate of one of the sellers. The transaction is subject to closing conditions as detailed in the Purchase Agreement and is expected to close in the fourth quarter of 2018. On October 9, 2018, we sold a Hyatt House hotel to an unrelated third party for approximately $48 million and entered into a long-term management agreement with the owner upon sale. On October 30, 2018, our board of directors authorized the repurchase of up to an additional $750 million of our common stock. These repurchases may be made from time to time in the open market, in privately negotiated transactions, or otherwise, including pursuant to a Rule 10b5-1 plan or an accelerated share repurchase transaction, at prices we deem appropriate and subject to market conditions, applicable law and other factors deemed relevant in our sole discretion. The common stock repurchase program applies to our Class A common stock and/or our Class B common stock. The common stock repurchase program does not obligate us to repurchase any dollar amount or number of shares of common stock and the program may be suspended or discontinued at any time.

Recently Issued Accounting Pr_2

Recently Issued Accounting Pronouncements (Policies)	9 Months Ended
	Sep. 30, 2018
Accounting Policies [Abstract]
Basis of Accounting	The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information, the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all information or footnotes required by GAAP for complete annual financial statements.
Principles of Consolidation	We have eliminated all intercompany accounts and transactions in our condensed consolidated financial statements. We consolidate entities under our control, including entities where we are deemed to be the primary beneficiary.
Recently Issued Accounting Pronouncements	Summary of Significant Accounting Policies Our significant accounting policies are detailed in Part IV, Item 15, "Exhibits and Financial Statement Schedule—Note 2 to our Consolidated Financial Statements" within the 2017 Form 10-K. Upon adoption of Accounting Standards Update No. 2014-09 ("ASU 2014-09"), Revenue from Contracts with Customers (Topic 606) and Accounting Standards Update No. 2016-01 ("ASU 2016-01"), Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities , our accounting policies have been revised as follows: Revenue Recognition —Our revenues are primarily derived from the following products and services and are generally recognized when control of the product or service has transferred to the customer: • Owned and leased hotels revenues: • Owned and leased hotels revenues are derived from room rentals and services provided at our owned and leased properties and are recognized over time as rooms are occupied and when services are rendered. We present revenues net of sales, occupancy, and other taxes. Taxes collected on behalf of and remitted to governmental taxing authorities are excluded from the transaction price of the underlying products and services. In relation to the loyalty program, a portion of our owned and leased hotels revenues is deferred upon initial stay as points are earned by program members at an owned or leased hotel, and revenues are recognized upon redemption at an owned or leased hotel. • Management, franchise, and other fees: • Management fees primarily consist of a base fee, which is generally calculated as a percentage of gross revenues, and an incentive fee, which is generally computed based on a hotel profitability measure. Management fees are recognized over time as services are performed. Additionally, included within our management fees are royalty fees that we recognize as owners derive value from access to Hyatt's intellectual property ("IP"), including our brand names. Incentive fees may be subject to minimum profitability thresholds, and we recognize incentive fee revenues over time as services are rendered only to the extent that a significant reversal is not probable. • Franchise fees consist of an initial fee and ongoing royalty fees computed as a percentage of gross room revenues and, as applicable, food and beverage revenues. Royalty fees are recognized over time as franchisees derive value from the license to Hyatt's IP. Initial fees are deferred and recognized over the expected customer life, which is typically the initial term of the franchise agreement. • Management, franchise, and other fees include license fee revenues associated with the licensing of the Hyatt brand names through our co-branded credit card program. License fee revenues are recognized over time as the licensee derives value from access to Hyatt's brand names. • Net management, franchise, and other fees are reduced by the amortization of management and franchise agreement assets constituting payments to customers ("Contra revenue"). Consideration provided to customers is recognized in other assets and amortized over the expected customer life, which is typically the initial term of the management or franchise agreement. • Other revenues: • Other revenues include revenues from the sale of promotional awards through our co-branded credit card and spa and fitness revenues from exhale. We recognize the revenue from our co-branded credit card upon the fulfillment or expiration of a card member's promotional awards. Revenue is recognized net of expenses incurred to fulfill the promotional award as we are deemed the agent in the transaction. Spa and fitness revenues are recognized at the point in time the products or services are provided to the customer. • Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties: • Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties represent the reimbursement of costs incurred on behalf of the owners of properties. These costs relate primarily to payroll costs at managed properties where we are the employer, as well as costs associated with reservations, sales, marketing, technology (collectively, "system-wide services"), and the loyalty program operated on behalf of owners. Hyatt is reimbursed for costs incurred based on the terms of the contracts, and revenue is recognized as the underlying performance obligations are satisfied. Revenue is adjusted for the effects of a significant financing component when the period between the transfer of the promised goods or services to the customer and payment by the customer exceeds one year. Gains on Sales of Real Estate —Gains on sales of real estate are generally recognized when control of the property transfers to the buyer. Equity Method Investments —We have investments in unconsolidated hospitality ventures accounted for under the equity method. These investments are an integral part of our business and are strategically and operationally important to our overall results. When we receive a distribution from an investment, we determine whether it is a return on our investment or a return of our investment based on the underlying nature of the distribution. We assess investments in unconsolidated hospitality ventures for impairment quarterly. Debt and Equity Securities —Excluding equity securities classified as equity method investments, debt and equity securities consist of various investments: • Equity securities consist of interest-bearing money market funds, mutual funds, common shares, and preferred shares. Equity securities with a readily determinable fair value are recorded at fair value on our condensed consolidated balance sheets based on listed market prices or dealer quotations where available. Equity securities without a readily determinable fair value are recognized at cost less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for the identical or similar investment of the same issuer. • Debt securities consist of various types including preferred shares, time deposits, and fixed income securities, including U.S. government obligations, obligations of other government agencies, corporate debt, mortgage-backed and asset-backed securities, and municipal and provincial notes and bonds. Debt securities are classified as either trading, available-for-sale ("AFS"), or held-to-maturity ("HTM"). • Trading securities—recognized at fair value based on listed market prices or dealer price quotations, where available. Net gains and losses, both realized and unrealized, on trading securities are reflected in net gains and interest income from marketable securities held to fund rabbi trusts or other income (loss), net, depending on the nature of the investment, on our condensed consolidated statements of income. • AFS securities—recognized at fair value based on listed market prices or dealer price quotations, where available. Unrealized gains and losses on AFS debt securities are recognized in accumulated other comprehensive loss on our condensed consolidated balance sheets. Realized gains and losses on debt securities are recognized in other income (loss), net on our condensed consolidated statements of income. • HTM securities—debt security investments which we have the ability to hold until maturity and are recorded at amortized cost. AFS and HTM debt securities are assessed for impairment quarterly. Loyalty Program —We administer the loyalty program for the benefit of Hyatt's portfolio of properties during the period of their participation in the loyalty program. The loyalty program is primarily funded through contributions based on eligible revenues from loyalty program members, and the funds are used for the redemption of member awards and payment of operating expenses. The costs of operating the loyalty program, including the estimated cost of award redemption, are charged to the participating properties based on members' qualified expenditures. The revenues received from the properties are deferred, and revenues are recognized as loyalty points are redeemed, net of redemption expense, through revenues for the reimbursement of costs incurred on behalf of managed and franchised properties. Operating costs are expensed as incurred through costs incurred on behalf of managed and franchised properties. We actuarially determine the amount to recognize as revenue based on statistical formulas that estimate the timing of future point redemptions based on historical experience, including an estimate of breakage for points that will not be redeemed, and an estimate of the points that will eventually be redeemed. Any revenues in excess of the anticipated future redemptions are used to fund the operational expenses of the program. The loyalty program is funded by payments from the properties and returns on marketable securities. The program invests amounts received from the properties in marketable securities which are included in other current and noncurrent assets (see Note 4). The current and noncurrent deferred revenue liabilities of the loyalty program are classified as contract liabilities (see Note 3). Adopted Accounting Standards Revenue from Contracts with Customers —In May 2014, the Financial Accounting Standards Board ("FASB") released ASU 2014-09. ASU 2014-09 supersedes the requirements in Topic 605, Revenue Recognition , and provides a single, comprehensive revenue recognition model for contracts with customers. Subsequently, the FASB issued several related ASUs which further clarified the application of the standard including ASU 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date, which delayed the effective date by one year making it effective for interim and fiscal years beginning after December 14, 2017. We adopted ASU 2014-09, and all related ASUs, utilizing the full retrospective transition method on January 1, 2018, which required us to adjust each prior reporting period presented. The adoption of ASU 2014-09 impacts the timing of the recognition of gains on sales of real estate subject to a long-term management agreement, and the associated impact to deferred tax assets (see Note 11), the classification of Contra revenue, and the timing of revenue recognition related to incentive fees. However, we do not expect the new standard to have a significant impact on incentive fee revenue on a full-year basis. The adoption of ASU 2014-09 also impacts the timing of revenue recognition related to the loyalty program and as a result of the change, we recognized a $116 million increase to the contract liability related to the loyalty program at January 1, 2018. Upon adoption of ASU 2014-09, we recognized a cumulative effect of a change in accounting principle through retained earnings, including a $523 million reclassification related to deferred gains at January 1, 2018. We also reclassified certain management and franchise agreement assets from intangibles, net to other assets and certain current and long-term liabilities to current and long-term contract liabilities. Financial Instruments - Recognition, Measurement, Presentation, and Disclosure —In January 2016, the FASB released ASU 2016-01 . ASU 2016-01 revised the accounting for equity investments, excluding those accounted for under the equity method, and the presentation and disclosure requirements for financial instruments. ASU 2016-01 superseded the guidance to classify equity securities with readily determinable fair values into different categories (i.e., trading versus AFS) and requires all equity securities to be measured at fair value on a recurring basis unless an equity security does not have a readily determinable fair value. Equity securities without a readily determinable fair value are remeasured at fair value only in periods in which an observable price change is available or upon identification of an impairment. All changes in fair value are recognized in net income on our condensed consolidated statements of income. On January 1, 2018, we adopted the provisions of ASU 2016-01 on a modified retrospective basis through a cumulative-effect adjustment to our opening condensed consolidated balance sheet. Upon adoption, $68 million of unrealized gains, net of tax, were reclassified from accumulated other comprehensive loss to opening retained earnings. Accounting for Income Taxes - Intra-Entity Asset Transfers —In October 2016, the FASB released Accounting Standards Update No. 2016-16 ("ASU 2016-16"), Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory . ASU 2016-16 requires an entity to recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. We adopted ASU 2016-16 on January 1, 2018 on a modified retrospective basis resulting in a $4 million decrease to retained earnings. Statement of Cash Flows - Restricted Cash —In November 2016, the FASB released Accounting Standards Update No. 2016-18 ("ASU 2016-18"), Statement of Cash Flows (Topic 230): Restricted Cash (a consensus of the FASB Emerging Issues Task Force) . ASU 2016-18 requires amounts generally described as restricted cash to be included within cash and cash equivalents when reconciling the total beginning and ending amounts for the periods shown on the condensed consolidated statements of cash flows. We adopted the provisions of ASU 2016-18 on January 1, 2018 on a retrospective basis. Upon adoption of ASU 2016-18, restricted cash of $249 million , including $15 million which is recognized within other assets on our condensed consolidated balance sheet at December 31, 2017, is included within the beginning balance of cash, cash equivalents, and restricted cash on our condensed consolidated statements of cash flows for the nine months ended September 30, 2018 . The table below summarizes the changes on our condensed consolidated statements of cash flows for the nine months ended September 30, 2017 : Nine Months Ended September 30, 2017 Operating activities $ (11 ) Investing activities 163 Financing activities (3 ) Cash, cash equivalents, and restricted cash - beginning of year 91 Cash, cash equivalents, and restricted cash - end of period $ 240 Business Combinations - Definition of a Business —In January 2017, the FASB released Accounting Standards Update No. 2017-01 ("ASU 2017-01"), Business Combinations (Topic 805): Clarifying the Definition of a Business . ASU 2017-01 clarifies the definition of a business to assist entities with evaluating whether transactions should be accounted for as acquisitions or dispositions of assets or businesses. Generally, our acquisitions and dispositions of individual hotels were previously accounted for as business combinations, however, upon adoption of ASU 2017-01, there is an increased likelihood that certain acquisitions and dispositions of individual hotels will be accounted for as asset transactions. We adopted ASU 2017-01 on January 1, 2018 on a prospective basis and evaluate the impact of the standard on acquisitions and dispositions based on the relevant facts and circumstances. Derivatives and Hedging - Accounting for Hedging Activities —In August 2017, the FASB released Accounting Standards Update No. 2017-12 ("ASU 2017-12"), Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities . ASU 2017-12 improves the financial reporting of hedging relationships to better portray the economic results by making improvements to simplify the application of the hedge accounting guidance in current GAAP. ASU 2017-12 is effective for interim periods and fiscal years beginning after December 15, 2018, with early adoption permitted. We early adopted ASU 2017-12 on April 1, 2018 on a modified retrospective basis, which did not impact our condensed consolidated financial statements upon adoption. The impact of the changes made to our condensed consolidated financial statements as a result of the adoption of ASU 2014-09, ASU 2016-01, and ASU 2016-16 were as follows: Three Months Ended September 30, 2017 Nine Months Ended September 30, 2017 As Reported Effect of the adoption of As Adjusted As Reported Effect of the adoption of As Adjusted REVENUES: Owned and leased hotels $ 518 $ (2 ) $ 516 $ 1,667 $ (6 ) $ 1,661 Management, franchise, and other fees 122 1 123 374 (7 ) 367 Amortization of management and franchise agreement assets constituting payments to customers — (4 ) (4 ) — (13 ) (13 ) Net management, franchise, and other fees 122 (3 ) 119 374 (20 ) 354 Other revenues 16 (10 ) 6 53 (25 ) 28 Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties 463 (34 ) 429 1,407 (105 ) 1,302 Total revenues 1,119 (49 ) 1,070 3,501 (156 ) 3,345 DIRECT AND SELLING, GENERAL, AND ADMINISTRATIVE EXPENSES: Owned and leased hotels 409 (3 ) 406 1,266 (8 ) 1,258 Depreciation and amortization 92 (4 ) 88 274 (13 ) 261 Other direct costs 9 (6 ) 3 34 (14 ) 20 Selling, general, and administrative 89 — 89 278 — 278 Costs incurred on behalf of managed and franchised properties 463 (38 ) 425 1,407 (94 ) 1,313 Direct and selling, general, and administrative expenses 1,062 (51 ) 1,011 3,259 (129 ) 3,130 Net gains and interest income from marketable securities held to fund rabbi trusts 12 (1 ) 11 37 (2 ) 35 Equity earnings (losses) from unconsolidated hospitality ventures 1 — 1 (1 ) — (1 ) Interest expense (20 ) — (20 ) (61 ) — (61 ) Gains on sales of real estate — — — 34 26 60 Other income (loss), net (19 ) 3 (16 ) 23 9 32 INCOME BEFORE INCOME TAXES 31 4 35 274 6 280 PROVISION FOR INCOME TAXES (14 ) (2 ) (16 ) (100 ) (3 ) (103 ) NET INCOME 17 2 19 174 3 177 NET INCOME AND ACCRETION ATTRIBUTABLE TO NONCONTROLLING INTERESTS (1 ) — (1 ) (1 ) — (1 ) NET INCOME ATTRIBUTABLE TO HYATT HOTELS CORPORATION $ 16 $ 2 $ 18 $ 173 $ 3 $ 176 EARNINGS PER SHARE—Basic Net income $ 0.14 $ 0.01 $ 0.15 $ 1.38 $ 0.02 $ 1.40 Net income attributable to Hyatt Hotels Corporation $ 0.13 $ 0.01 $ 0.14 $ 1.37 $ 0.02 $ 1.39 EARNINGS PER SHARE—Diluted Net income $ 0.14 $ 0.01 $ 0.15 $ 1.37 $ 0.02 $ 1.39 Net income attributable to Hyatt Hotels Corporation $ 0.13 $ 0.01 $ 0.14 $ 1.36 $ 0.02 $ 1.38 December 31, 2017 January 1, 2018 As Reported Effect of the adoption of As Adjusted Effect of the adoption of ASU 2016-01 and ASU 2016-16 As Adjusted ASSETS Investments $ 211 $ 1 $ 212 $ (27 ) $ 185 Intangibles, net 683 (378 ) 305 — 305 Deferred tax assets 242 (101 ) 141 1 142 Other assets 1,006 378 1,384 22 1,406 TOTAL ASSETS 7,672 (100 ) 7,572 (4 ) 7,568 LIABILITIES, REDEEMABLE NONCONTROLLING INTEREST, AND EQUITY Accounts payable $ 175 $ (39 ) $ 136 $ — $ 136 Accrued expenses and other current liabilities 635 (283 ) 352 — 352 Current contract liabilities — 348 348 — 348 Long-term contract liabilities — 424 424 — 424 Other long-term liabilities 1,725 (862 ) 863 — 863 Total liabilities 4,131 (412 ) 3,719 — 3,719 Retained earnings 2,742 312 3,054 64 3,118 Accumulated other comprehensive loss (185 ) — (185 ) (68 ) (253 ) Total equity 3,531 312 3,843 (4 ) 3,839 TOTAL LIABILITIES, REDEEMABLE NONCONTROLLING INTEREST, AND EQUITY 7,672 (100 ) 7,572 (4 ) 7,568 The adoption of ASU 2014-09 resulted in an $11 million reclassification from investing into operating activities during the nine months ended September 30, 2017 related to cash outflows representing payments to customers. There were no impacts to cash provided by or used in financing activities on our condensed consolidated statements of cash flows. Future Adoption of Accounting Standards Leases —In February 2016, the FASB released Accounting Standards Update No. 2016-02 ("ASU 2016-02"), Leases (Topic 842) . ASU 2016-02 requires lessees to record lease contracts on the balance sheet by recognizing a right-of-use asset and lease liability with certain practical expedients available. The accounting for lessors remains largely unchanged. In July 2018, the FASB released Accounting Standards Update No. 2018-11 ("ASU 2018-11"), Leases (Topic 842): Targeted Improvements, providing entities with an additional optional transition method. The provisions of ASU 2016-02, and all related ASUs, are effective for interim periods and fiscal years beginning after December 15, 2018, with early adoption permitted. The real estate leases for a majority of our owned and leased hotels include contingent lease payments, which will be excluded from the impact of ASU 2016-02. We expect to adopt ASU 2016-02 utilizing the optional transition approach allowed under ASU 2018-11 and applying the package of practical expedients beginning January 1, 2019. We continue to evaluate the impact of adopting ASU 2016-02 and expect this ASU may have a material effect to our condensed consolidated financial statements. Financial Instruments - Credit Losses —In June 2016, the FASB released Accounting Standards Update No. 2016-13 ("ASU 2016-13"), Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments . ASU 2016-13 replaces the existing impairment model for most financial assets from an incurred loss impairment model to a current expected credit loss model, which requires an entity to recognize an impairment allowance equal to its current estimate of all contractual cash flows the entity does not expect to collect. ASU 2016-13 also requires credit losses relating to AFS debt securities to be recognized through an allowance for credit losses. The provisions of ASU 2016-13 are to be applied using a modified retrospective approach and are effective for interim periods and fiscal years beginning after December 15, 2019, with early adoption permitted. We are currently evaluating the impact of adopting ASU 2016-13. Fair Value Measurement —In August 2018, the FASB released Accounting Standards Update No. 2018-13 ("ASU 2018-13"), Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement . ASU 2018-13 modifies the disclosure requirements on fair value measurements. The provisions of ASU 2018-13 are to be applied using a prospective or retrospective approach, depending on the amendment, and are effective for interim periods and fiscal years beginning after December 15, 2019, with early adoption permitted. We are currently evaluating the impact of adopting ASU 2018-13. Intangibles - Goodwill and Other - Internal-Use Software —In August 2018, the FASB released Accounting Standards Update No. 2018-15 ("ASU 2018-15"), Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract . ASU 2018-15 aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The provisions of ASU 2018-15 are to be applied using a prospective or retrospective approach and are effective for interim periods and fiscal years beginning after December 15, 2019, with early adoption permitted. We are currently evaluating the impact of adopting ASU 2018-15.
Revenue Recognition	Performance Obligations We provide products and services to our customers including third-party hotel owners, guests at owned and leased hotels and spa and fitness centers, and a third-party partner through our co-branded credit card program. The products and services offered are comprised of the following performance obligations: • Management and Franchise Agreements: • License to Hyatt's IP, including the Hyatt brand names —We receive variable consideration from third-party hotel owners in exchange for providing access to our IP, including the Hyatt brand names. The license represents a license of symbolic IP and in exchange for providing the license, Hyatt receives sales-based royalty fees. Royalty fees are generally determined based on a percentage of gross revenues for managed hotels and are generally included in the hotel management fee. Royalty fees for franchised hotels are based on a percentage of gross room revenues and, as applicable, food and beverage revenues. Fees generally are payable on a monthly basis as the third-party hotel owners derive value from access to our IP. Royalty fees are recognized over time through management, franchise, and other fees as services are rendered. Under our franchise agreements, we also receive initial fees from third-party hotel owners. The initial fees do not represent a distinct performance obligation and, therefore, are combined with the royalty fees and recognized through management, franchise, and other fees over the expected customer life. • System-wide services —We provide sales, reservations, technology, and marketing services on behalf of owners of managed and franchised properties. The promise to provide system-wide services is not a distinct performance obligation because it is attendant to the license of our IP. Therefore, the promise to provide system-wide services is combined with the license of our IP to form a single performance obligation. We have two accounting models depending on the terms of the agreements: • Cost reimbursement model —Third-party hotel owners are required to reimburse us for all costs incurred to operate the system-wide programs with no added margin. The reimbursements are recognized over time within revenues for the reimbursement of costs incurred on behalf of managed and franchised properties. We have discretion over how we spend program revenues and, therefore, we are the principal with respect to the promise to provide system-wide services. Expenses incurred related to the system-wide programs are recognized within costs incurred on behalf of managed and franchised properties. The reimbursement of system-wide services is billed on a monthly basis based upon an annual estimate of costs to be incurred and is recognized as revenue commensurate with incurring the cost. To the extent that actual costs vary from estimated costs, a true-up billing or refund is issued to the hotels. Any amounts collected and not yet recognized as revenues are deferred and classified as contract liabilities. Any costs incurred in excess of revenues collected are classified as receivables. • Fund model —Third-party hotel owners are invoiced a system-wide assessment fee primarily based on a percentage of hotel revenues on a monthly basis. We recognize the revenues over time as services are provided through revenues for the reimbursement of costs incurred on behalf of managed and franchised properties. We have discretion over how we spend program revenues and, therefore, we are the principal with respect to system-wide services. Expenses related to the system-wide programs are recognized as incurred through costs incurred on behalf of managed and franchised properties. Over time, we manage the system-wide programs to break-even, but the timing of the revenue received from the owners may not align with the timing of the expenses to operate the programs. Therefore, the difference between the revenues and expenses may impact our net income. • Hotel management agreement services —We provide hotel management agreement services, which form a single performance obligation that qualifies as a series, under the terms of our management agreements. In exchange for providing these services, we receive variable consideration in the form of management fees, which are comprised of base and incentive fees. Incentive fees are typically subject to the achievement of certain profitability targets, and therefore, we apply judgment in determining the amount of incentive fees recognized each period. Incentive fees revenue is recognized to the extent it is probable that we will not reverse a significant portion of the fees in a subsequent period. We rely on internal financial forecasts and historical trends to estimate the amount of incentive fees revenue recognized and the probability that incentive fees will reverse in the future. Generally, base management fees are due and payable on a monthly basis as services are provided, and incentive fees are due and payable based on the terms of the agreement, but at a minimum, incentive fees are billed and collected annually. Revenue is recognized over time through management, franchise, and other fees. Under the terms of certain management agreements, primarily within the United States, we are the employer of hotel employees. When we are the employer, we are reimbursed for costs incurred related to the employee management services with no added margin, and the reimbursements are recognized over time as services are rendered within revenues for the reimbursement of costs incurred on behalf of managed and franchised properties. In jurisdictions in which we are the employer, we have discretion over how employee management services are provided and, therefore, we are the principal and revenues are recognized on a gross basis. • Loyalty program administration —We administer the loyalty program for the benefit of the Hyatt portfolio of properties. Under the program, members earn loyalty points that can be redeemed for future products and services. Points earned by loyalty program members represent a material right to free or discounted goods or services in the future. The loyalty program has one performance obligation that consists of marketing and managing the program and arranging for award redemptions by members. The costs of operating the loyalty program are charged to the properties through an assessment fee based on members’ qualified expenditures. The assessment fee is billed and collected monthly, and the revenue received by the program is deferred until a member redeems points. Upon redemption of points at managed and franchised properties, we recognize the previously deferred revenue through revenues for the reimbursement of costs incurred on behalf of managed and franchised properties, net of redemption expense paid to managed and franchised hotels. We are responsible for arranging for the redemption of promotional awards, but we do not directly fulfill the award night obligation except at owned and leased hotels. Therefore, we are the agent with respect to this performance obligation for managed and franchised hotels, and we are the principal with respect to owned and leased hotels. When loyalty points are redeemed at owned and leased hotels, we recognize revenue through owned and leased hotels revenues. The revenue recognized each period includes an estimate of breakage for the loyalty points that will not be redeemed. Determining breakage involves significant judgment, and we engage third-party actuaries to estimate the ultimate redemption ratios used in the breakage calculations and the amount of revenue recognized upon redemption. Changes to the expected ultimate redemption assumptions are reflected in the current period. • Room rentals and other services provided at owned and leased hotels —We provide room rentals and other services to our guests, including but not limited to spa, laundry, and parking. These products and services each represent individual performance obligations and, in exchange for these services, we receive fixed amounts based on published rates or negotiated contracts. Payment is due in full at the time the services are rendered or the goods are provided. If a guest enters into a package including multiple goods or services, the fixed price is allocated to each distinct good or service based on the stand-alone selling price for each item. Revenue is recognized over time within owned and leased hotels revenues when we transfer control of the good or service to the customer. Room rental revenue is recognized on a daily basis as the guest occupies the room, and revenue related to other products and services is recognized when the product or service is provided to the guest. Hotels commonly enter into arrangements with online travel agencies, trade associations, and other entities. As part of these arrangements, Hyatt may pay the other party a commission or rebate based on the revenue generated through that channel. The determination of whether to recognize revenues gross or net of rebates and commission is made based on the terms of each contract. • Spa and fitness services —Exhale spa and fitness studios provide guests with spa and fitness services as well as retail products in exchange for fixed consideration. Each spa and fitness service represents an individual performance obligation. Payment is due in full and revenue is recognized at the point in time the services are rendered or the products are delivered. If a guest purchases a spa or fitness package, the fixed price is allocated to each distinct product or service based on the published stand-alone selling price for each item, and revenues are recognized as the services are rendered. • Co-branded credit card —We have a co-branded credit card agreement with a third party and under the terms of the agreement, we have various performance obligations: granting a license to the Hyatt name, arranging for the fulfillment of points issued to cardholders through the loyalty program, and awarding cardholders with free room nights upon achievement of certain program milestones. The loyalty points and free room nights represent material rights that can be redeemed for free or discounted services in the future. In exchange for the products and services provided, we receive fixed and variable consideration which is allocated between the performance obligations based upon the relative stand-alone selling prices. Significant judgment is involved in determining the relative stand-alone selling prices, and therefore, we engaged a third-party valuation specialist to assist us. We utilize a relief from royalty method to determine the revenue allocated to the license, which is recognized over time. We utilize observable transaction prices and adjusted market assumptions to determine the stand-alone selling price of a loyalty point, and we utilize a cost plus margin approach to determine the stand-alone selling price of the free room nights. The revenues allocated to loyalty program points and free night awards are deferred and recognized upon redemption, net of redemption expense, as we are deemed to be the agent in the transaction. We are responsible for arranging for the redemption of promotional awards, but we do not directly fulfill the award night obligation except at owned and leased hotels. Therefore, we are the agent for managed and franchised hotels, and we are the principal with respect to owned and leased hotels. When loyalty points and free nights are redeemed at owned and leased hotels, we recognize revenue through owned and leased hotels revenues. We satisfy the following performance obligations over time: the license of Hyatt's symbolic IP, hotel management agreement services, administration of the loyalty program, and the license to our brand name through our co-branded credit card agreement. Each of these performance obligations is considered a sales-based royalty or a series of distinct services, and although the activities to fulfill each of these promises may vary from day to day, the nature of each promise is the same and the customer benefits from the services every day. For each performance obligation satisfied over time, we recognize revenue using an output method based on the value transferred to the customer. Revenue is recognized based on the transaction price and the observable outputs related to each performance obligation. We deem the following to be a faithful depiction of our progress in satisfying these performance obligations: • revenues and operating profits earned by the hotels during the reporting period for access to Hyatt's IP, as it is indicative of the value third-party owners derive; • underlying revenues and operating profits of the hotels for the promise to provide management agreement services to the hotels; • award night redemptions for the administration of the loyalty program performance obligation; and • cardholder spend for the license to the Hyatt name through our co-branded credit card, as it is indicative of the value our partner derives from the use of our name. Within our management agreements, we have two performance obligations: providing a license to Hyatt's IP and providing management agreement services. Although these constitute two separate performance obligations, both obligations represent services that are satisfied over time, and Hyatt recognizes revenue using an output method based on the performance of the hotel. Therefore, we have not allocated the transaction price between these two performance obligations as the allocation would result in the same pattern of revenue recognition. Revenue Allocated to Remaining Performance Obligations Revenue allocated to remaining performance obligations represents contracted revenue that has not yet been recognized, which includes deferred revenue and amounts that will be invoiced and recognized as revenue in future periods. We did not estimate revenues expected to be recognized related to our unsatisfied performance obligations for the following: • Deferred revenue related to the loyalty program and revenue from base and incentive management fees as the revenue is allocated to a wholly unperformed performance obligation in a series; • Revenues related to royalty fees as they are considered sales-based royalty fees; • Revenues received for free nights granted through our co-branded credit card as the awards are required to be redeemed within 12 months; and • Revenues related to advanced bookings at owned and leased hotels as each stay has a duration of 12 months or less. We elected to apply the practical expedient that permits the omission of prior-period information about revenue allocated to future performance obligations under ASU 2014-09. Contract Balances Our payments from customers are based on the billing terms established in our contracts. Customer billings are classified as accounts receivable when our right to consideration is unconditional. If our right to consideration is conditional on future performance under the contract, the balance is classified as a contract asset. Under the terms of our management agreements, we earn incentive management fees based on a percentage of hotel profitability. The incentive fee may be contingent on the hotel achieving certain profitability targets. We recognize an incentive fee receivable each month to the extent it is probable that we will not reverse a significant portion of the fees in a subsequent period. However, due to the profitability hurdles in the contract, incentive fees are considered contract assets until the risk related to the achievement of the profitability metric no longer exists. Once the profitability hurdle has been met, the incentive fee receivable balance will be reflected within accounts receivable. Our contract assets were $1 million and insignificant at September 30, 2018 and December 31, 2017 , respectively. At September 30, 2018 , the contract assets were included in receivables, net. As our profitability hurdles are generally calculated on a full-year basis, we expect our contract asset balance to be insignificant at year end. Payments received in advance of performance under the contract are classified as contract liabilities and recognized as revenue as we perform under the contract.
Self Insurance	We obtain commercial insurance for potential losses for general liability, workers' compensation, automobile liability, employment practices, crime, property, cyber risk, and other miscellaneous coverages. A portion of the risk is retained on a self-insurance basis primarily through U.S.-based and licensed captive insurance companies that are wholly owned subsidiaries of Hyatt and generally insure our deductibles and retentions. Reserve requirements are established based on actuarial projections of ultimate losses.
Commitments and Contingencies Other	We act as general partner of various partnerships owning hotel properties that are subject to mortgage indebtedness. These mortgage agreements generally limit the lender's recourse to security interests in assets financed and/or other assets of the partnership(s) and/or the general partner(s) thereof. In conjunction with financing obtained for our unconsolidated hospitality ventures, certain managed hotels, and other properties, we may provide standard indemnifications to the lender for loss, liability, or damage occurring as a result of our actions or actions of the other unconsolidated hospitality venture partners, respective hotel owners, or other third parties. As a result of certain dispositions, we have agreed to provide customary indemnifications to third-party purchasers for certain liabilities incurred prior to sale and for breach of certain representations and warranties made during the sales process, such as representations of valid title, authority, and environmental issues that may not be limited by a contractual monetary amount. These indemnification agreements survive until the applicable statutes of limitation expire or until the agreed upon contract terms expire. We are subject, from time to time, to various claims and contingencies related to lawsuits, taxes, and environmental matters, as well as commitments under contractual obligations. Many of these claims are covered under our current insurance programs, subject to deductibles. Although the ultimate liability for these matters cannot be determined at this point, based on information currently available, we do not expect the ultimate resolution of such claims and litigation to have a material effect on our condensed consolidated financial statements.
Segment Reporting	Our reportable segments are components of the business which are managed discretely and for which discrete financial information is reviewed regularly by the chief operating decision maker ("CODM") to assess performance and make decisions regarding the allocation of resources. Our CODM is our President and Chief Executive Officer. We define our reportable segments as follows: • Owned and leased hotels —This segment derives its earnings from owned and leased hotel properties located predominantly in the United States but also in certain international locations and for purposes of segment Adjusted EBITDA, includes our pro rata share of the Adjusted EBITDA of our unconsolidated hospitality ventures, based on our ownership percentage of each venture. Adjusted EBITDA includes intercompany expenses related to management fees paid to the Company's management and franchising segments, which are eliminated in consolidation. Intersegment revenues relate to promotional award redemptions earned by our owned and leased hotels related to our co-branded credit card and revenues earned under the loyalty program for stays at our owned and leased hotels and are eliminated in consolidation. • Americas management and franchising —This segment derives its earnings primarily from a combination of hotel management and licensing of our portfolio of brands to franchisees located in the United States, Latin America, Canada, and the Caribbean. This segment's revenues also include the reimbursement of costs incurred on behalf of managed and franchised properties. These costs relate primarily to payroll costs at managed properties where the Company is the employer, as well as costs associated with reservations, sales, marketing, technology, and the loyalty program operated on behalf of owners of managed and franchised properties. The intersegment revenues relate to management fees earned from the Company's owned and leased hotels and are eliminated in consolidation. • ASPAC management and franchising —This segment derives its earnings primarily from a combination of hotel management and licensing of our portfolio of brands to franchisees located in Southeast Asia, Greater China, Australia, South Korea, Japan, and Micronesia. This segment's revenues also include the reimbursement of costs incurred on behalf of managed and franchised properties. These costs relate primarily to reservations, sales, marketing, technology, and the loyalty program operated on behalf of owners of managed and franchised properties. The intersegment revenues relate to management fees earned from the Company's owned hotel and are eliminated in consolidation. • EAME/SW Asia management and franchising —This segment derives its earnings primarily from a combination of hotel management and licensing of our portfolio of brands to franchisees located in Europe, Africa, the Middle East, India, Central Asia, and Nepal. This segment's revenues also include the reimbursement of costs incurred on behalf of managed and franchised properties. These costs relate primarily to reservations, sales, marketing, technology, and the loyalty program operated on behalf of owners of managed and franchised properties. The intersegment revenues relate to management fees earned from the Company's owned and leased hotels and are eliminated in consolidation. Our CODM evaluates performance based on owned and leased hotels revenues, management, franchise, and other fees revenues, and Adjusted EBITDA. Adjusted EBITDA, as we define it, is a non-GAAP measure. We define Adjusted EBITDA as net income attributable to Hyatt Hotels Corporation plus our pro rata share of unconsolidated hospitality ventures Adjusted EBITDA based on our ownership percentage of each venture, adjusted to exclude interest expense; provision for income taxes; depreciation and amortization; Contra revenue; revenues for the reimbursement of costs incurred on behalf of managed and franchised properties; costs incurred on behalf of managed and franchised properties; equity earnings (losses) from unconsolidated hospitality ventures; stock-based compensation expense; gains (losses) on sales of real estate; asset impairments; and other income (loss), net.

Recently Issued Accounting Pr_3

Recently Issued Accounting Pronouncements Recently Issued Accounting Pronouncements (Tables)	9 Months Ended
	Sep. 30, 2018
Accounting Policies [Abstract]
Schedule of New Accounting Pronouncements and Changes in Accounting Principles	The table below summarizes the changes on our condensed consolidated statements of cash flows for the nine months ended September 30, 2017 : Nine Months Ended September 30, 2017 Operating activities $ (11 ) Investing activities 163 Financing activities (3 ) Cash, cash equivalents, and restricted cash - beginning of year 91 Cash, cash equivalents, and restricted cash - end of period $ 240 The impact of the changes made to our condensed consolidated financial statements as a result of the adoption of ASU 2014-09, ASU 2016-01, and ASU 2016-16 were as follows: Three Months Ended September 30, 2017 Nine Months Ended September 30, 2017 As Reported Effect of the adoption of As Adjusted As Reported Effect of the adoption of As Adjusted REVENUES: Owned and leased hotels $ 518 $ (2 ) $ 516 $ 1,667 $ (6 ) $ 1,661 Management, franchise, and other fees 122 1 123 374 (7 ) 367 Amortization of management and franchise agreement assets constituting payments to customers — (4 ) (4 ) — (13 ) (13 ) Net management, franchise, and other fees 122 (3 ) 119 374 (20 ) 354 Other revenues 16 (10 ) 6 53 (25 ) 28 Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties 463 (34 ) 429 1,407 (105 ) 1,302 Total revenues 1,119 (49 ) 1,070 3,501 (156 ) 3,345 DIRECT AND SELLING, GENERAL, AND ADMINISTRATIVE EXPENSES: Owned and leased hotels 409 (3 ) 406 1,266 (8 ) 1,258 Depreciation and amortization 92 (4 ) 88 274 (13 ) 261 Other direct costs 9 (6 ) 3 34 (14 ) 20 Selling, general, and administrative 89 — 89 278 — 278 Costs incurred on behalf of managed and franchised properties 463 (38 ) 425 1,407 (94 ) 1,313 Direct and selling, general, and administrative expenses 1,062 (51 ) 1,011 3,259 (129 ) 3,130 Net gains and interest income from marketable securities held to fund rabbi trusts 12 (1 ) 11 37 (2 ) 35 Equity earnings (losses) from unconsolidated hospitality ventures 1 — 1 (1 ) — (1 ) Interest expense (20 ) — (20 ) (61 ) — (61 ) Gains on sales of real estate — — — 34 26 60 Other income (loss), net (19 ) 3 (16 ) 23 9 32 INCOME BEFORE INCOME TAXES 31 4 35 274 6 280 PROVISION FOR INCOME TAXES (14 ) (2 ) (16 ) (100 ) (3 ) (103 ) NET INCOME 17 2 19 174 3 177 NET INCOME AND ACCRETION ATTRIBUTABLE TO NONCONTROLLING INTERESTS (1 ) — (1 ) (1 ) — (1 ) NET INCOME ATTRIBUTABLE TO HYATT HOTELS CORPORATION $ 16 $ 2 $ 18 $ 173 $ 3 $ 176 EARNINGS PER SHARE—Basic Net income $ 0.14 $ 0.01 $ 0.15 $ 1.38 $ 0.02 $ 1.40 Net income attributable to Hyatt Hotels Corporation $ 0.13 $ 0.01 $ 0.14 $ 1.37 $ 0.02 $ 1.39 EARNINGS PER SHARE—Diluted Net income $ 0.14 $ 0.01 $ 0.15 $ 1.37 $ 0.02 $ 1.39 Net income attributable to Hyatt Hotels Corporation $ 0.13 $ 0.01 $ 0.14 $ 1.36 $ 0.02 $ 1.38 December 31, 2017 January 1, 2018 As Reported Effect of the adoption of As Adjusted Effect of the adoption of ASU 2016-01 and ASU 2016-16 As Adjusted ASSETS Investments $ 211 $ 1 $ 212 $ (27 ) $ 185 Intangibles, net 683 (378 ) 305 — 305 Deferred tax assets 242 (101 ) 141 1 142 Other assets 1,006 378 1,384 22 1,406 TOTAL ASSETS 7,672 (100 ) 7,572 (4 ) 7,568 LIABILITIES, REDEEMABLE NONCONTROLLING INTEREST, AND EQUITY Accounts payable $ 175 $ (39 ) $ 136 $ — $ 136 Accrued expenses and other current liabilities 635 (283 ) 352 — 352 Current contract liabilities — 348 348 — 348 Long-term contract liabilities — 424 424 — 424 Other long-term liabilities 1,725 (862 ) 863 — 863 Total liabilities 4,131 (412 ) 3,719 — 3,719 Retained earnings 2,742 312 3,054 64 3,118 Accumulated other comprehensive loss (185 ) — (185 ) (68 ) (253 ) Total equity 3,531 312 3,843 (4 ) 3,839 TOTAL LIABILITIES, REDEEMABLE NONCONTROLLING INTEREST, AND EQUITY 7,672 (100 ) 7,572 (4 ) 7,568

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	9 Months Ended
	Sep. 30, 2018
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following tables present our revenues disaggregated by the nature of the product or service: Three months ended September 30, 2018 Disaggregated revenue stream Owned and leased hotels Americas management and franchising ASPAC management and franchising EAME/SW Asia management and franchising Corporate and other Eliminations Total Rooms revenues $ 276 $ — $ — $ — $ 5 $ (7 ) $ 274 Food and beverage 133 — — — 2 — 135 Other 34 — — — 7 — 41 Owned and leased hotels 443 — — — 14 (7 ) 450 Base management fees — 48 11 9 — (13 ) 55 Incentive management fees — 14 16 10 — (7 ) 33 Franchise fees — 32 1 — — — 33 Other fees — 1 2 2 2 — 7 License fees — — — — 5 — 5 Management, franchise, and other fees — 95 30 21 7 (20 ) 133 Contra revenue — (4 ) — (1 ) — — (5 ) Net management, franchise, and other fees — 91 30 20 7 (20 ) 128 Other revenues — — — — 5 2 7 Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties — 447 24 16 2 — 489 Total $ 443 $ 538 $ 54 $ 36 $ 28 $ (25 ) $ 1,074 Nine months ended September 30, 2018 Disaggregated revenue stream Owned and leased hotels Americas management and franchising ASPAC management and franchising EAME/SW Asia management and franchising Corporate and other Eliminations Total Rooms revenues $ 848 $ — $ — $ — $ 18 $ (26 ) $ 840 Food and beverage 474 — — — 7 — 481 Other 106 — — — 23 — 129 Owned and leased hotels 1,428 — — — 48 (26 ) 1,450 Base management fees — 150 32 25 — (40 ) 167 Incentive management fees — 47 50 29 — (21 ) 105 Franchise fees — 94 2 — — — 96 Other fees — 10 6 4 4 — 24 License fees — — — — 15 — 15 Management, franchise, and other fees — 301 90 58 19 (61 ) 407 Contra revenue — (10 ) (1 ) (4 ) — — (15 ) Net management, franchise, and other fees — 291 89 54 19 (61 ) 392 Other revenues — — — — 22 5 27 Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties — 1,328 67 49 3 — 1,447 Total $ 1,428 $ 1,619 $ 156 $ 103 $ 92 $ (82 ) $ 3,316 Three months ended September 30, 2017 Disaggregated revenue stream Owned and leased hotels Americas management and franchising ASPAC management and franchising EAME/SW Asia management and franchising Corporate and other Eliminations Total Rooms revenues $ 312 $ — $ — $ — $ 6 $ (10 ) $ 308 Food and beverage 152 — — — 3 — 155 Other 46 — — — 7 — 53 Owned and leased hotels 510 — — — 16 (10 ) 516 Base management fees — 47 10 8 — (14 ) 51 Incentive management fees — 15 15 8 — (7 ) 31 Franchise fees — 30 — — — — 30 Other fees — 2 2 1 1 — 6 License fees — — — — 5 — 5 Management, franchise, and other fees — 94 27 17 6 (21 ) 123 Contra revenue — (3 ) — (1 ) — — (4 ) Net management, franchise, and other fees — 91 27 16 6 (21 ) 119 Other revenues — — — — 3 3 6 Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties — 395 19 15 — — 429 Total $ 510 $ 486 $ 46 $ 31 $ 25 $ (28 ) $ 1,070 Nine months ended September 30, 2017 Disaggregated revenue stream Owned and leased hotels Americas management and franchising ASPAC management and franchising EAME/SW Asia management and franchising Corporate and other Eliminations Total Rooms revenues $ 969 $ — $ — $ — $ 18 $ (29 ) $ 958 Food and beverage 544 — — — 9 — 553 Other 128 — — — 22 — 150 Owned and leased hotels 1,641 — — — 49 (29 ) 1,661 Base management fees — 147 28 22 — (47 ) 150 Incentive management fees — 46 44 24 — (19 ) 95 Franchise fees — 84 2 — — — 86 Other fees — 12 5 3 2 — 22 License fees — — — — 14 — 14 Management, franchise, and other fees — 289 79 49 16 (66 ) 367 Contra revenue — (9 ) (1 ) (3 ) — — (13 ) Net management, franchise, and other fees — 280 78 46 16 (66 ) 354 Other revenues 13 — — — 8 7 28 Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties — 1,205 56 41 — — 1,302 Total $ 1,654 $ 1,485 $ 134 $ 87 $ 73 $ (88 ) $ 3,345
Summary of Contract Liability	September 30, 2018 December 31, 2017 $ Change % Change Current contract liabilities $ 332 $ 348 $ (16 ) (4.6 )% Long-term contract liabilities 433 424 9 2.4 % Total contract liabilities $ 765 $ 772 $ (7 ) (0.8 )% The contract liabilities balances above are comprised of the following: September 30, 2018 December 31, 2017 Advanced deposits $ 55 $ 59 Deferred revenue related to the loyalty program 584 561 Deferred revenue related to system-wide services 14 9 Initial fees received from franchise owners 33 27 Other deferred revenue 79 116 Total contract liabilities $ 765 $ 772

Debt and Equity Securities (Tab

Debt and Equity Securities (Tables)	9 Months Ended
	Sep. 30, 2018
Investments, Debt and Equity Securities [Abstract]
Equity Method Investments	Equity Method Investments September 30, 2018 December 31, 2017 Equity method investments $ 225 $ 185
Summarized Financial Information	The following table presents summarized financial information for all unconsolidated hospitality ventures in which we hold an investment accounted for under the equity method: Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Total revenues $ 135 $ 196 $ 399 $ 649 Gross operating profit 53 80 141 225 Income (loss) from continuing operations (12 ) 38 (15 ) 36 Net income (loss) (12 ) 38 (15 ) 36
Marketable Securities Held to Fund Operating Programs	Marketable Securities Held to Fund Operating Programs —Marketable securities held to fund operating programs, which are recorded at fair value and included on our condensed consolidated balance sheets, were as follows: September 30, 2018 December 31, 2017 Deferred compensation plans held in rabbi trusts (Note 8 and 10) $ 413 $ 402 Loyalty program 391 403 Captive insurance companies 114 111 Total marketable securities held to fund operating programs $ 918 $ 916 Less: current portion of marketable securities held to fund operating programs included in cash and cash equivalents, short-term investments, and prepaids and other assets (157 ) (156 ) Marketable securities held to fund operating programs included in other assets $ 761 $ 760
Net Gains and Interest Income from Marketable Securities Held to Fund Operating Programs	Net realized and unrealized gains (losses) and interest income from marketable securities held to fund the loyalty program are recognized in other income (loss), net on our condensed consolidated statements of income: Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Loyalty program (Note 18) $ 1 $ 2 $ (2 ) $ 9 Net realized and unrealized gains and interest income from marketable securities held to fund rabbi trusts are recognized in net gains and interest income from marketable securities held to fund rabbi trusts on our condensed consolidated statements of income: Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Unrealized gains $ 5 $ 8 $ 7 $ 24 Realized gains 5 3 12 11 Net gains and interest income from marketable securities held to fund rabbi trusts $ 10 $ 11 $ 19 $ 35
Marketable Securities Held for Investment Purposes	Marketable Securities Held for Investment Purposes —Marketable securities held for investment purposes, which are recorded at fair value and included on our condensed consolidated balance sheets, were as follows: September 30, 2018 December 31, 2017 Interest-bearing money market funds $ 38 $ 26 Time deposits 200 37 Common shares 117 131 Total marketable securities held for investment purposes $ 355 $ 194 Less: current portion of marketable securities held for investment purposes included in cash and cash equivalents and short-term investments (238 ) (63 ) Marketable securities held for investment purposes included in other assets $ 117 $ 131
Investments Classified as Available For Sale	Preferred shares —During 2013, we also invested $271 million in Playa for convertible redeemable preferred shares which were classified as an AFS debt security. The fair value of the preferred shares was: 2017 Fair value at January 1 $ 290 Gross unrealized losses (54 ) Realized losses (1) (Note 18) (40 ) Interest income (Note 18) 94 Cash redemption (290 ) Fair value at September 30 $ — (1) The realized losses were the result of a difference between the fair value of the initial investment and the contractual redemption price of $8.40 per share.
Assets and Liabilities Measured at Fair Value on a Recurring Basis	We measured the following financial assets at fair value on a recurring basis: September 30, 2018 Cash and cash equivalents Short-term investments Prepaids and other assets Other assets Level One - Quoted Prices in Active Markets for Identical Assets Interest-bearing money market funds $ 88 $ 88 $ — $ — $ — Mutual funds 413 — — — 413 Common shares 117 — — — 117 Level Two - Significant Other Observable Inputs Time deposits 212 — 204 — 8 U.S. government obligations 158 — — 37 121 U.S. government agencies 46 — 1 6 39 Corporate debt securities 168 — 12 30 126 Mortgage-backed securities 22 — — 5 17 Asset-backed securities 46 — — 11 35 Municipal and provincial notes and bonds 3 — — 1 2 Total $ 1,273 $ 88 $ 217 $ 90 $ 878 December 31, 2017 Cash and cash equivalents Short-term investments Prepaids and other assets Other assets Level One - Quoted Prices in Active Markets for Identical Assets Interest-bearing money market funds $ 75 $ 75 $ — $ — $ — Mutual funds 402 — — — 402 Common shares 131 — — — 131 Level Two - Significant Other Observable Inputs Time deposits 50 — 39 — 11 U.S. government obligations 158 — — 38 120 U.S. government agencies 47 — 2 7 38 Corporate debt securities 179 — 8 33 138 Mortgage-backed securities 25 — — 6 19 Asset-backed securities 40 — — 10 30 Municipal and provincial notes and bonds 3 — — 1 2 Total $ 1,110 $ 75 $ 49 $ 95 $ 891

Financing Receivables (Tables)

Financing Receivables (Tables)	9 Months Ended
	Sep. 30, 2018
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
Financing Receivables	September 30, 2018 December 31, 2017 Unsecured financing to hotel owners $ 158 $ 127 Less: current portion of financing receivables, included in receivables, net (45 ) — Less: allowance for losses (99 ) (108 ) Total long-term financing receivables, net of allowances $ 14 $ 19
Allowance for Losses and Impairments	The following table summarizes the activity in our unsecured financing receivables allowance: 2018 2017 Allowance at January 1 $ 108 $ 100 Provisions 3 4 Other adjustments (2 ) 1 Allowance at June 30 $ 109 $ 105 Provisions 2 1 Write-offs (12 ) — Other adjustments — 1 Allowance at September 30 $ 99 $ 107
Credit Monitoring	Our unsecured financing receivables were as follows: September 30, 2018 Gross loan balance (principal and interest) Related allowance Net financing receivables Gross receivables on non-accrual status Loans $ 58 $ — $ 58 $ — Impaired loans (1) 50 (50 ) — 50 Total loans 108 (50 ) 58 50 Other financing arrangements 50 (49 ) 1 49 Total unsecured financing receivables $ 158 $ (99 ) $ 59 $ 99 (1) The unpaid principal balance was $36 million and the average recorded loan balance was $54 million at September 30, 2018 . December 31, 2017 Gross loan balance (principal and interest) Related allowance Net financing receivables Gross receivables on non-accrual status Loans $ 13 $ — $ 13 $ — Impaired loans (2) 59 (59 ) — 59 Total loans 72 (59 ) 13 59 Other financing arrangements 55 (49 ) 6 49 Total unsecured financing receivables $ 127 $ (108 ) $ 19 $ 108 (2) The unpaid principal balance was $44 million and the average recorded loan balance was $58 million at December 31, 2017 .

Acquisitions and Dispositions (

Acquisitions and Dispositions (Tables)	9 Months Ended
	Sep. 30, 2018
Business Combinations [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following table summarizes the fair value of the identifiable net assets acquired in the acquisition of Miraval, which is recorded within corporate and other: Current assets, net of cash acquired $ 1 Property and equipment 172 Indefinite-lived intangibles (1) 37 Management agreement intangibles (2) 14 Goodwill (3) 21 Other definite-lived intangibles (4) 7 Total assets $ 252 Current liabilities $ 13 Deferred tax liabilities 3 Total liabilities 16 Total net assets acquired attributable to Hyatt Hotels Corporation 236 Total net assets acquired attributable to noncontrolling interests 1 Total net assets acquired $ 237 (1) Includes an intangible attributable to the Miraval brand. (2) Amortized over a 20 year useful life. (3) The goodwill, of which $10 million is deductible for tax purposes, is attributable to Miraval's reputation as a renowned provider of wellness and mindfulness experiences, the extension of the Hyatt brand beyond traditional hotel stays, and the establishment of deferred tax liabilities. (4) Amortized over useful lives ranging from two to seven years.

Intangibles, Net (Tables)

Intangibles, Net (Tables)	9 Months Ended
	Sep. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite-Lived Intangible Assets	September 30, 2018 Weighted- average useful lives in years December 31, 2017 Management and franchise agreement intangibles $ 178 23 $ 178 Lease related intangibles 123 110 127 Brand and other indefinite-lived intangibles 53 — 53 Advanced bookings intangibles 15 5 9 Other definite-lived intangibles 8 6 9 377 376 Accumulated amortization (81 ) (71 ) Intangibles, net $ 296 $ 305 Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Amortization expense $ 3 $ 3 $ 10 $ 10
Schedule of Indefinite-Lived Intangible Assets	September 30, 2018 Weighted- average useful lives in years December 31, 2017 Management and franchise agreement intangibles $ 178 23 $ 178 Lease related intangibles 123 110 127 Brand and other indefinite-lived intangibles 53 — 53 Advanced bookings intangibles 15 5 9 Other definite-lived intangibles 8 6 9 377 376 Accumulated amortization (81 ) (71 ) Intangibles, net $ 296 $ 305 Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Amortization expense $ 3 $ 3 $ 10 $ 10
Schedule of Intangible Assets Amortization Expense	Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Amortization expense $ 3 $ 3 $ 10 $ 10

Other Assets (Tables)

Other Assets (Tables)	9 Months Ended
	Sep. 30, 2018
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Other Assets	September 30, 2018 December 31, 2017 Marketable securities held to fund rabbi trusts (Note 4) $ 413 $ 402 Management and franchise agreement assets constituting payments to customers (1) 385 378 Loyalty program marketable securities (Note 4) 293 298 Common shares of Playa N.V. (Note 4) 117 131 Long-term investments 112 109 Other 75 66 Total other assets $ 1,395 $ 1,384 (1) Includes cash consideration as well as other forms of consideration provided, such as debt repayment or performance guarantees.

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2018
Debt Disclosure [Abstract]
Fair Value, by Balance Sheet Grouping	September 30, 2018 Carrying value Fair value Quoted prices in active markets for identical assets (level one) Significant other observable inputs (level two) Significant unobservable inputs (level three) Debt (1) $ 1,636 $ 1,656 $ — $ 1,591 $ 65 (1) Excludes $13 million of capital lease obligations and $16 million of unamortized discounts and deferred financing fees. December 31, 2017 Carrying value Fair value Quoted prices in active markets for identical assets (level one) Significant other observable inputs (level two) Significant unobservable inputs (level three) Debt (2) $ 1,452 $ 1,546 $ — $ 1,459 $ 87 (2) Excludes $13 million of capital lease obligations and $14 million of unamortized discounts and deferred financing fees.

Other Long-Term Liabilities (Ta

Other Long-Term Liabilities (Tables)	9 Months Ended
	Sep. 30, 2018
Other Liabilities [Abstract]
Other Long-term Liabilities	September 30, 2018 December 31, 2017 Deferred compensation plans held to fund rabbi trusts (Note 4) $ 413 $ 402 Guarantee liabilities (Note 12) 79 104 Self-insurance liabilities (Note 12) 76 69 Deferred income taxes 42 62 Other 227 226 Total other long-term liabilities $ 837 $ 863

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Schedule of Guarantor Obligations	The four managed hotels in France Other performance guarantees All performance guarantees 2018 2017 2018 2017 2018 2017 Beginning balance, January 1 $ 58 $ 66 $ 13 $ 13 $ 71 $ 79 Initial guarantee obligation liability — — — 3 — 3 Amortization of initial guarantee obligation liability into income (8 ) (7 ) (2 ) (2 ) (10 ) (9 ) Performance guarantee expense (income), net 36 41 (1 ) (1 ) 35 40 Net payments during the period (50 ) (49 ) (5 ) (1 ) (55 ) (50 ) Foreign currency exchange, net — 6 — — — 6 Ending balance, June 30 $ 36 $ 57 $ 5 $ 12 $ 41 $ 69 Amortization of initial guarantee obligation liability into income (3 ) (4 ) (1 ) (1 ) (4 ) (5 ) Performance guarantee expense 3 13 3 1 6 14 Net (payments) receipts during the period (9 ) (16 ) 2 1 (7 ) (15 ) Foreign currency exchange, net 1 3 — — 1 3 Ending balance, September 30 $ 28 $ 53 $ 9 $ 13 $ 37 $ 66
Debt Repayment and Other Guarantees	Included within debt repayment and other guarantees are the following: Property description Maximum potential future payments Maximum exposure net of recoverability from third parties Other long-term liabilities recorded at September 30, 2018 Other long-term liabilities recorded at December 31, 2017 Year of guarantee expiration Hotel property in Washington State (1), (3), (4), (5) $ 215 $ — $ 19 $ 26 2020 Hotel properties in India (2), (3) 166 166 11 17 2020 Hotel property in Massachusetts (6) 102 102 1 1 2020 Hotel and residential properties in Brazil (1), (4) 95 40 3 4 various, through 2021 Hotel property in Oregon (1), (5) 61 10 4 — various, through 2022 Hotel properties in California (1) 31 13 4 6 various, through 2021 Hotel property in Minnesota 25 25 1 2 2021 Hotel property in Arizona (1), (4) 25 — 1 1 2019 Other (1) 30 19 5 2 various, through 2022 Total $ 750 $ 375 $ 49 $ 59 (1) We have agreements with our unconsolidated hospitality venture partners, the respective hotel owners, or other third parties to recover certain amounts funded under the debt repayment guarantee; the recoverability mechanism may be in the form of cash, financing receivable, or HTM debt security. (2) Debt repayment guarantee is denominated in Indian rupees and translated using exchange rates at September 30, 2018 . We have the contractual right to recover amounts funded from the unconsolidated hospitality venture, which is a related party. We expect our maximum exposure to be $83 million , taking into account our partner's 50% ownership interest in the unconsolidated hospitality venture. (3) Under certain events or conditions, we have the right to force the sale of the property(ies) in order to recover amounts funded. (4) If certain funding thresholds are met or if certain events occur, we have the ability to assume control of the property . With respect to properties in Brazil, this right only exists for the residential property. (5) We are subject to a completion guarantee whereby the parties agree to substantially complete the construction of the project by a specified date. In the event of default, we are obligated to complete construction using the funds available from the outstanding loan. Any additional funds paid by us are subject to partial recovery in the form of cash or HTM debt security. At September 30, 2018 , the maximum potential future payments and maximum exposure net of recoverability from third parties under the completion guarantees are $45 million and $4 million , respectively. (6) We are subject to a completion guarantee whereby the parties agree to substantially complete the construction of the project by a specified date. In the event of default, we are obligated to complete construction and any additional funds paid by us are not recoverable.

Equity (Tables)

Equity (Tables)	9 Months Ended
	Sep. 30, 2018
Equity [Abstract]
Stockholders' Equity and Noncontrolling Interests	We entered into the following accelerated share repurchase ("ASR") programs with third-party financial institutions to repurchase Class A shares: Total number of shares repurchased (1) Weighted-average price per share Total cash paid May 2018 ASR 2,481,341 $ 80.60 $ 200 August 2017 ASR (2) (3) 1,401,787 $ 57.07 $ 100 March 2017 ASR (2) 5,393,669 $ 55.62 $ 300 (1) The delivery of shares resulted in a reduction in weighted-average common shares outstanding for basic and diluted earnings per share. (2) The August 2017 ASR and the March 2017 ASR are collectively referred to as the "2017 ASR Agreements." (3) At September 30, 2017, the remaining yet to be delivered shares totaled $20 million and were accounted for as an equity-classified forward contract. The August 2017 ASR was settled subsequent to the nine months ended September 30, 2017 for 264,697 shares. Overall, we repurchased 1,666,484 shares at a weighted-average price per share of $60.01 . Stockholders' equity Noncontrolling interests in consolidated subsidiaries Total equity Balance at January 1, 2018 $ 3,833 $ 6 $ 3,839 Net income attributable to Hyatt Hotels Corporation 725 — 725 Other comprehensive income 51 — 51 Repurchase of common stock (654 ) — (654 ) Dividends (52 ) — (52 ) Directors compensation 2 — 2 Employee stock plan issuance 3 — 3 Share-based payment activity 21 — 21 Balance at September 30, 2018 $ 3,929 $ 6 $ 3,935 Stockholders' Noncontrolling interests Total equity Balance at January 1, 2017 (a) $ 4,075 $ 5 $ 4,080 Net income attributable to Hyatt Hotels Corporation 176 — 176 Other comprehensive income 105 — 105 Contributions from noncontrolling interests — 1 1 Repurchase of common stock (555 ) — (555 ) Directors compensation 2 — 2 Employee stock plan issuance 3 — 3 Share-based payment activity 20 — 20 Balance at September 30, 2017 $ 3,826 $ 6 $ 3,832 (a) Balances have been adjusted for the adoption of ASU 2014-09 with an opening adjustment to retained earnings of $172 million.
Accumulated Other Comprehensive Loss	Balance at Current period other comprehensive income (loss) before reclassification Amount reclassified from accumulated other comprehensive loss (a) Balance at September 30, 2018 Foreign currency translation adjustments $ (266 ) $ 9 $ 62 $ (195 ) Unrecognized pension cost (7 ) — — (7 ) Unrealized losses on derivative instruments (3 ) 3 — — Accumulated other comprehensive loss $ (276 ) $ 12 $ 62 $ (202 ) (a) The amounts reclassified from accumulated other comprehensive loss include the gain recognized in gains on sales of real estate related to the HRMC transaction (see Note 6). Balance at Current period other comprehensive income (loss) before reclassification Amount reclassified from accumulated other comprehensive loss (b) Balance at September 30, 2018 Foreign currency translation adjustments $ (243 ) $ (29 ) $ 77 $ (195 ) Unrecognized pension cost (7 ) — — (7 ) Unrealized losses on derivative instruments (3 ) 3 — — Accumulated other comprehensive loss $ (253 ) $ (26 ) $ 77 $ (202 ) (b) The amounts reclassified from accumulated other comprehensive loss include the net gain recognized in gains on sales of real estate related to the derecognition of a wholly owned subsidiary and the HRMC transaction (see Note 6). Balance at Current period other comprehensive income (loss) before reclassification Amount reclassified from accumulated other comprehensive loss Balance at Foreign currency translation adjustments $ (239 ) $ 11 $ — $ (228 ) Unrealized gains on AFS securities 78 (12 ) — 66 Unrecognized pension cost (7 ) — — (7 ) Unrealized losses on derivative instruments (4 ) 1 — (3 ) Accumulated other comprehensive loss $ (172 ) $ — $ — $ (172 ) Balance at Current period other comprehensive income (loss) before reclassification Amount reclassified from accumulated other comprehensive loss Balance at Foreign currency translation adjustments $ (299 ) $ 71 $ — $ (228 ) Unrealized gains on AFS securities (c) 33 8 25 66 Unrecognized pension cost (7 ) — — (7 ) Unrealized losses on derivative instruments (4 ) 1 — (3 ) Accumulated other comprehensive loss $ (277 ) $ 80 $ 25 $ (172 ) (c) The presentation above was revised to reflect the gross impact of the redemption of certain Playa securities (see Note 4), which was previously presented on a net basis within current period other comprehensive income (loss) before reclassification. The revised presentation above reflects the $40 million realized loss ($25 million net of tax) recognized in other income (loss), net (see Note 18) in the period of redemption as an amount reclassified from accumulated other comprehensive loss.
Dividends Declared and Paid	During the nine months ended September 30, 2018 , we paid cash dividends to Class A and Class B shareholders of record as follows: Date Declared Dividend per share amount Date of record Date paid February 14, 2018 $ 0.15 March 22, 2018 March 29, 2018 May 16, 2018 $ 0.15 June 19, 2018 June 28, 2018 July 31, 2018 $ 0.15 September 6, 2018 September 20, 2018

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2018
Share-based Compensation [Abstract]
Compensation Expense Related to Long-Term Incentive Plan	Stock-based compensation expense included in selling, general, and administrative expense on our condensed consolidated statements of income related to these awards was as follows: Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 SARs $ 1 $ 1 $ 10 $ 10 RSUs 2 3 14 14 PSUs 2 1 4 2 Total $ 5 $ 5 $ 28 $ 26

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2018
Segment Reporting [Abstract]
Summarized Consolidated Financial Information by Segment	The table below shows summarized consolidated financial information by segment. Included within corporate and other are the results of Miraval, exhale, Hyatt Residence Club license fees, results related to our co- branded credit card, and unallocated corporate expenses. Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Owned and leased hotels Owned and leased hotels revenues $ 443 $ 510 $ 1,428 $ 1,641 Other revenues — — — 13 Intersegment revenues (a) 7 10 26 29 Adjusted EBITDA 91 104 324 382 Depreciation and amortization 65 75 197 222 Americas management and franchising Management, franchise, and other fees revenues 95 94 301 289 Contra revenue (4 ) (3 ) (10 ) (9 ) Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties 447 395 1,328 1,205 Intersegment revenues (a) 16 18 52 58 Adjusted EBITDA 83 81 266 250 Depreciation and amortization 2 2 6 6 ASPAC management and franchising Management, franchise, and other fees revenues 30 27 90 79 Contra revenue — — (1 ) (1 ) Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties 24 19 67 56 Intersegment revenues (a) 1 — 1 1 Adjusted EBITDA 19 17 55 48 Depreciation and amortization 1 — 1 — EAME/SW Asia management and franchising Management, franchise, and other fees revenues 21 17 58 49 Contra revenue (1 ) (1 ) (4 ) (3 ) Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties 16 15 49 41 Intersegment revenues (a) 3 3 8 7 Adjusted EBITDA 12 10 33 26 Depreciation and amortization — — — — Corporate and other Revenues 26 25 89 73 Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties 2 — 3 — Intersegment revenues (a) (2 ) (3 ) (5 ) (7 ) Adjusted EBITDA (29 ) (33 ) (85 ) (90 ) Depreciation and amortization 13 11 39 33 Eliminations Revenues (a) (25 ) (28 ) (82 ) (88 ) Adjusted EBITDA (1 ) (2 ) 2 3 TOTAL Revenues $ 1,074 $ 1,070 $ 3,316 $ 3,345 Adjusted EBITDA 175 177 595 619 Depreciation and amortization 81 88 243 261 (a) Intersegment revenues are included in management, franchise, and other fees revenues, owned and leased hotels revenues, and other revenues and eliminated in Eliminations.
Reconciliation of Consolidated Adjusted EBITDA to EBITDA and a Reconciliation of EBITDA to Net Income Attributable to Hyatt Hotels Corporation	The table below provides a reconciliation of our net income attributable to Hyatt Hotels Corporation to EBITDA and a reconciliation of EBITDA to our consolidated Adjusted EBITDA: Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Net income attributable to Hyatt Hotels Corporation $ 237 $ 18 $ 725 $ 176 Interest expense 19 20 57 61 Provision for income taxes 19 16 194 103 Depreciation and amortization 81 88 243 261 EBITDA 356 142 1,219 601 Contra revenue 5 4 15 13 Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties (489 ) (429 ) (1,447 ) (1,302 ) Costs incurred on behalf of managed and franchised properties 487 425 1,447 1,313 Equity (earnings) losses from unconsolidated hospitality ventures 6 (1 ) 17 1 Stock-based compensation expense (Note 14) 5 5 28 26 Gains on sales of real estate (Note 6) (239 ) — (769 ) (60 ) Asset impairments 21 — 21 — Other (income) loss, net (Note 18) 9 16 22 (32 ) Pro rata share of unconsolidated hospitality ventures Adjusted EBITDA 14 15 42 59 Adjusted EBITDA $ 175 $ 177 $ 595 $ 619

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2018
Earnings Per Share [Abstract]
Schedule of the Calculation of Basic and Diluted Earnings Per Share	The calculation of basic and diluted earnings per share, including a reconciliation of the numerator and denominator, are as follows: Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Numerator: Net income $ 237 $ 19 $ 725 $ 177 Net income and accretion attributable to noncontrolling interests — (1 ) — (1 ) Net income attributable to Hyatt Hotels Corporation $ 237 $ 18 $ 725 $ 176 Denominator: Basic weighted average shares outstanding 111,356,759 124,010,961 114,829,210 126,399,472 Share-based compensation and equity-classified forward contract 1,867,226 1,396,922 1,954,863 1,315,462 Diluted weighted average shares outstanding 113,223,985 125,407,883 116,784,073 127,714,934 Basic Earnings Per Share: Net income $ 2.12 $ 0.15 $ 6.31 $ 1.40 Net income and accretion attributable to noncontrolling interests — (0.01 ) — (0.01 ) Net income attributable to Hyatt Hotels Corporation $ 2.12 $ 0.14 $ 6.31 $ 1.39 Diluted Earnings Per Share: Net income $ 2.09 $ 0.15 $ 6.21 $ 1.39 Net income and accretion attributable to noncontrolling interests — (0.01 ) — (0.01 ) Net income attributable to Hyatt Hotels Corporation $ 2.09 $ 0.14 $ 6.21 $ 1.38
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The computations of diluted net income per share for the three and nine months ended September 30, 2018 and September 30, 2017 do not include the following shares of Class A common stock assumed to be issued as stock- settled SARs and RSUs because they are anti- dilutive. Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 SARs — 29,100 — 32,300 RSUs — 400 — 200

Other Income (Loss), Net (Table

Other Income (Loss), Net (Tables)	9 Months Ended
	Sep. 30, 2018
Other Income and Expenses [Abstract]
Other Income (Loss), Net	Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Interest income (Note 4) $ 7 $ 5 $ 19 $ 106 Depreciation recovery 5 7 16 19 Performance guarantee liability amortization (Note 12) 4 5 14 14 Debt repayment guarantee liability amortization (Note 12) 2 3 8 8 Cease use liability — (21 ) — (21 ) Realized losses (Note 4) — — (2 ) (41 ) Impairment of an equity security without a readily determinable fair value (Note 4) — — (22 ) — Performance guarantee expense, net (Note 12) (6 ) (14 ) (41 ) (54 ) Loss on extinguishment of debt (Note 9) (7 ) — (7 ) — Unrealized (losses) gains (Note 4) (15 ) — (21 ) 3 Other, net 1 (1 ) 14 (2 ) Other income (loss), net $ (9 ) $ (16 ) $ (22 ) $ 32

Organization (Details)

Organization (Details)	Sep. 30, 2018hotelcountryroom
Organization
Number of countries in which entity operates (number of countries) | country	59
Full service
Organization
Number of hotels operated or franchised	347
Number of rooms operated or franchised (number of rooms) | room	133,402
Select service
Organization
Number of hotels operated or franchised	407
Number of rooms operated or franchised (number of rooms) | room	57,576
Select service | United States
Organization
Number of hotels operated or franchised	358
All inclusive
Organization
Number of hotels operated or franchised	6
Number of rooms operated or franchised (number of rooms) | room	2,401
Wellness resorts
Organization
Number of hotels operated or franchised	3
Number of rooms operated or franchised (number of rooms) | room	399

Recently Issued Accounting Pr_4

Recently Issued Accounting Pronouncements - Narrative (Details) - USD ($)		Jan. 01, 2018	Sep. 30, 2018		Sep. 30, 2017		Dec. 31, 2017
New Accounting Pronouncements or Change in Accounting Principle
Reduction in retained earnings		$ (3,118,000,000)	$ (3,791,000,000)				$ (3,054,000,000)
Restricted cash, current			23,000,000	[1]	$ 224,000,000	[1]	234,000,000
Restricted cash, noncurrent	[1]		19,000,000		16,000,000
Change in investing activities			712,000,000		(54,000,000)
Change in operating activities			132,000,000		428,000,000
Change in financing activities			$ (543,000,000)		(324,000,000)
Accounting Standards Update 2014-09
New Accounting Pronouncements or Change in Accounting Principle
Deferred gain on sale of property		523,000,000
Change in investing activities					(11,000,000)
Change in operating activities					11,000,000
Change in financing activities					0
Accounting Standards Update 2016-01 | Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle
Cumulative effect of adoption		68,000,000
Accounting Standards Update 2016-01 | AOCI
New Accounting Pronouncements or Change in Accounting Principle
Cumulative effect of adoption		(68,000,000)
Accounting Standards Update 2016-16
New Accounting Pronouncements or Change in Accounting Principle
Reduction in retained earnings		4,000,000
Accounting Standards Update 2016-18
New Accounting Pronouncements or Change in Accounting Principle
Restricted cash, current							249,000,000
Restricted cash, noncurrent							$ 15,000,000
Change in investing activities					163,000,000
Change in operating activities					(11,000,000)
Change in financing activities					$ (3,000,000)
Loyalty Program | Accounting Standards Update 2014-09
New Accounting Pronouncements or Change in Accounting Principle
Contract liabilities		$ 116,000,000
[1]	Restricted cash generally represents sales proceeds pursuant to like-kind exchanges, captive insurance subsidiary requirements, debt service on bonds, escrow deposits, and other arrangements.

Recently Issued Accounting Pr_5

Recently Issued Accounting Pronouncements - Schedule of Effect of ASU 2016-18 (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
New Accounting Pronouncements or Change in Accounting Principle
Operating activities	$ 132	$ 428
Investing activities	712	(54)
Financing activities	(543)	(324)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH—BEGINNING OF YEAR	752	573
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH—END OF PERIOD	$ 1,056	623
Accounting Standards Update 2016-18
New Accounting Pronouncements or Change in Accounting Principle
Operating activities		(11)
Investing activities		163
Financing activities		(3)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH—BEGINNING OF YEAR		91
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH—END OF PERIOD		$ 240

Recently Issued Accounting Pr_6

Recently Issued Accounting Pronouncements - Schedule of Effects of ASU 2014-09 and 2016-16 (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Jan. 01, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Statement [Abstract]
Total revenues	$ 1,074	$ 1,070	$ 3,316	$ 3,345
Depreciation and amortization	81	88	243	261
Other direct costs	8	3	23	20
Selling, general, and administrative	82	89	260	278
Direct and selling, general, and administrative expenses	1,012	1,011	3,068	3,130
Net gains and interest income from marketable securities held to fund rabbi trusts	10	11	19	35
Equity earnings (losses) from unconsolidated hospitality ventures	(6)	1	(17)	(1)
Interest expense	(19)	(20)	(57)	(61)
Gains on sales of real estate	239	0	769	60
Other income (loss), net	(9)	(16)	(22)	32
INCOME BEFORE INCOME TAXES	256	35	919	280
PROVISION FOR INCOME TAXES	(19)	(16)	(194)	(103)
NET INCOME	237	19	725	177
NET INCOME AND ACCRETION ATTRIBUTABLE TO NONCONTROLLING INTERESTS	0	(1)	0	(1)
NET INCOME ATTRIBUTABLE TO HYATT HOTELS CORPORATION	$ 237	$ 18	$ 725	$ 176
Net income—Basic (in dollars per share)	$ 2.12	$ 0.15	$ 6.31	$ 1.40
Net income attributable to Hyatt Hotels Corporation—Basic (in dollars per share)	2.12	0.14	6.31	1.39
Net income—Diluted (in dollars per share)	2.09	0.15	6.21	1.39
Net income attributable to Hyatt Hotels Corporation—Diluted (in dollars per share)	$ 2.09	$ 0.14	$ 6.21	$ 1.38
Statement of Financial Position [Abstract]
Investments	$ 225		$ 225		$ 185	$ 212
Intangibles, net	296		296		305	305
Deferred tax assets	149		149		142	141
Other assets	1,395		1,395		1,406	1,384
TOTAL ASSETS	7,724		7,724		7,568	7,572
Accounts payable	127		127		136	136
Accrued expenses and other current liabilities	296		296		352	352
Current contract liabilities	332		332		348	348
Long-term contract liabilities	433		433		424	424
Other long-term liabilities	837		837		863	863
Total liabilities	3,789		3,789		3,719	3,719
Retained earnings	3,791		3,791		3,118	3,054
Accumulated other comprehensive loss	(202)		(202)		(253)	(185)
Total equity	3,935	$ 3,832	3,935	$ 3,832	3,839	3,843	$ 4,080
TOTAL LIABILITIES, REDEEMABLE NONCONTROLLING INTEREST, AND EQUITY	7,724		7,724		7,568	7,572
Owned and leased hotels
Income Statement [Abstract]
Total revenues	450	516	1,450	1,661
Owned and leased hotels	354	406	1,095	1,258
Costs incurred on behalf of managed and franchised properties	354	406	1,095	1,258
Management, franchise, and other fees
Income Statement [Abstract]
Total revenues	133	123	407	367
Amortization of management and franchise agreement assets constituting payments to customers
Income Statement [Abstract]
Total revenues	(5)	(4)	(15)	(13)
Net management, franchise, and other fees
Income Statement [Abstract]
Total revenues	128	119	392	354
Other revenues
Income Statement [Abstract]
Total revenues	7	6	27	28
Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties
Income Statement [Abstract]
Total revenues	489	429	1,447	1,302
Costs incurred on behalf of managed and franchised properties
Income Statement [Abstract]
Owned and leased hotels	487	425	1,447	1,313
Costs incurred on behalf of managed and franchised properties	$ 487	425	$ 1,447	1,313
As Reported
Income Statement [Abstract]
Total revenues		1,119		3,501
Depreciation and amortization		92		274
Other direct costs		9		34
Selling, general, and administrative		89		278
Direct and selling, general, and administrative expenses		1,062		3,259
Net gains and interest income from marketable securities held to fund rabbi trusts		12		37
Equity earnings (losses) from unconsolidated hospitality ventures		1		(1)
Interest expense		(20)		(61)
Gains on sales of real estate		0		34
Other income (loss), net		(19)		23
INCOME BEFORE INCOME TAXES		31		274
PROVISION FOR INCOME TAXES		(14)		(100)
NET INCOME		17		174
NET INCOME AND ACCRETION ATTRIBUTABLE TO NONCONTROLLING INTERESTS		(1)		(1)
NET INCOME ATTRIBUTABLE TO HYATT HOTELS CORPORATION		$ 16		$ 173
Net income—Basic (in dollars per share)		$ 0.14		$ 1.38
Net income attributable to Hyatt Hotels Corporation—Basic (in dollars per share)		0.13		1.37
Net income—Diluted (in dollars per share)		0.14		1.37
Net income attributable to Hyatt Hotels Corporation—Diluted (in dollars per share)		$ 0.13		$ 1.36
Statement of Financial Position [Abstract]
Investments						211
Intangibles, net						683
Deferred tax assets						242
Other assets						1,006
TOTAL ASSETS						7,672
Accounts payable						175
Accrued expenses and other current liabilities						635
Current contract liabilities						0
Long-term contract liabilities						0
Other long-term liabilities						1,725
Total liabilities						4,131
Retained earnings						2,742
Accumulated other comprehensive loss						(185)
Total equity						3,531
TOTAL LIABILITIES, REDEEMABLE NONCONTROLLING INTEREST, AND EQUITY						7,672
As Reported | Owned and leased hotels
Income Statement [Abstract]
Total revenues		$ 518		$ 1,667
Owned and leased hotels		409		1,266
Costs incurred on behalf of managed and franchised properties		409		1,266
As Reported | Management, franchise, and other fees
Income Statement [Abstract]
Total revenues		122		374
As Reported | Amortization of management and franchise agreement assets constituting payments to customers
Income Statement [Abstract]
Total revenues		0		0
As Reported | Net management, franchise, and other fees
Income Statement [Abstract]
Total revenues		122		374
As Reported | Other revenues
Income Statement [Abstract]
Total revenues		16		53
As Reported | Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties
Income Statement [Abstract]
Total revenues		463		1,407
As Reported | Costs incurred on behalf of managed and franchised properties
Income Statement [Abstract]
Owned and leased hotels		463		1,407
Costs incurred on behalf of managed and franchised properties		463		1,407
Effect of the adoption | Accounting Standards Update 2014-09
Income Statement [Abstract]
Total revenues		(49)		(156)
Depreciation and amortization		(4)		(13)
Other direct costs		(6)		(14)
Selling, general, and administrative		0		0
Direct and selling, general, and administrative expenses		(51)		(129)
Net gains and interest income from marketable securities held to fund rabbi trusts		(1)		(2)
Equity earnings (losses) from unconsolidated hospitality ventures		0		0
Interest expense		0		0
Gains on sales of real estate		0		26
Other income (loss), net		3		9
INCOME BEFORE INCOME TAXES		4		6
PROVISION FOR INCOME TAXES		(2)		(3)
NET INCOME		2		3
NET INCOME AND ACCRETION ATTRIBUTABLE TO NONCONTROLLING INTERESTS		0		0
NET INCOME ATTRIBUTABLE TO HYATT HOTELS CORPORATION		$ 2		$ 3
Net income—Basic (in dollars per share)		$ 0.01		$ 0.02
Net income attributable to Hyatt Hotels Corporation—Basic (in dollars per share)		0.01		0.02
Net income—Diluted (in dollars per share)		0.01		0.02
Net income attributable to Hyatt Hotels Corporation—Diluted (in dollars per share)		$ 0.01		$ 0.02
Statement of Financial Position [Abstract]
Investments						1
Intangibles, net						(378)
Deferred tax assets						(101)
Other assets						378
TOTAL ASSETS						(100)
Accounts payable						(39)
Accrued expenses and other current liabilities						(283)
Current contract liabilities						348
Long-term contract liabilities						424
Other long-term liabilities						(862)
Total liabilities						(412)
Retained earnings					172	312
Accumulated other comprehensive loss						0
Total equity						312
TOTAL LIABILITIES, REDEEMABLE NONCONTROLLING INTEREST, AND EQUITY						$ (100)
Effect of the adoption | Accounting Standards Update 2016-01 And Accounting Standards Update 2016-16
Statement of Financial Position [Abstract]
Investments					(27)
Intangibles, net					0
Deferred tax assets					1
Other assets					22
TOTAL ASSETS					(4)
Accounts payable					0
Accrued expenses and other current liabilities					0
Current contract liabilities					0
Long-term contract liabilities					0
Other long-term liabilities					0
Total liabilities					0
Retained earnings					64
Accumulated other comprehensive loss					(68)
Total equity					(4)
TOTAL LIABILITIES, REDEEMABLE NONCONTROLLING INTEREST, AND EQUITY					$ (4)
Effect of the adoption | Owned and leased hotels
Income Statement [Abstract]
Owned and leased hotels		$ (3)		$ (8)
Costs incurred on behalf of managed and franchised properties		(3)		(8)
Effect of the adoption | Owned and leased hotels | Accounting Standards Update 2014-09
Income Statement [Abstract]
Total revenues		(2)		(6)
Effect of the adoption | Management, franchise, and other fees | Accounting Standards Update 2014-09
Income Statement [Abstract]
Total revenues		1		(7)
Effect of the adoption | Amortization of management and franchise agreement assets constituting payments to customers | Accounting Standards Update 2014-09
Income Statement [Abstract]
Total revenues		(4)		(13)
Effect of the adoption | Net management, franchise, and other fees | Accounting Standards Update 2014-09
Income Statement [Abstract]
Total revenues		(3)		(20)
Effect of the adoption | Other revenues | Accounting Standards Update 2014-09
Income Statement [Abstract]
Total revenues		(10)		(25)
Effect of the adoption | Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties | Accounting Standards Update 2014-09
Income Statement [Abstract]
Total revenues		(34)		(105)
Effect of the adoption | Costs incurred on behalf of managed and franchised properties | Accounting Standards Update 2014-09
Income Statement [Abstract]
Owned and leased hotels		(38)		(94)
Costs incurred on behalf of managed and franchised properties		$ (38)		$ (94)

Revenue from Contracts with C_3

Revenue from Contracts with Customers - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Disaggregation of Revenue [Line Items]
Revenues	$ 1,074	$ 1,070	$ 3,316	$ 3,345
Rooms revenues
Disaggregation of Revenue [Line Items]
Revenues	274	308	840	958
Food and beverage
Disaggregation of Revenue [Line Items]
Revenues	135	155	481	553
Other
Disaggregation of Revenue [Line Items]
Revenues	41	53	129	150
Owned and leased hotels
Disaggregation of Revenue [Line Items]
Revenues	450	516	1,450	1,661
Base management fees
Disaggregation of Revenue [Line Items]
Revenues	55	51	167	150
Incentive management fees
Disaggregation of Revenue [Line Items]
Revenues	33	31	105	95
Franchise fees
Disaggregation of Revenue [Line Items]
Revenues	33	30	96	86
Other fees
Disaggregation of Revenue [Line Items]
Revenues	7	6	24	22
License fees
Disaggregation of Revenue [Line Items]
Revenues	5	5	15	14
Management, franchise, and other fees
Disaggregation of Revenue [Line Items]
Revenues	133	123	407	367
Contra revenue
Disaggregation of Revenue [Line Items]
Revenues	(5)	(4)	(15)	(13)
Net management, franchise, and other fees
Disaggregation of Revenue [Line Items]
Revenues	128	119	392	354
Other revenues
Disaggregation of Revenue [Line Items]
Revenues	7	6	27	28
Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties
Disaggregation of Revenue [Line Items]
Revenues	489	429	1,447	1,302
Operating segments | Owned and leased hotels
Disaggregation of Revenue [Line Items]
Revenues	443	510	1,428	1,654
Operating segments | Owned and leased hotels | Rooms revenues
Disaggregation of Revenue [Line Items]
Revenues	276	312	848	969
Operating segments | Owned and leased hotels | Food and beverage
Disaggregation of Revenue [Line Items]
Revenues	133	152	474	544
Operating segments | Owned and leased hotels | Other
Disaggregation of Revenue [Line Items]
Revenues	34	46	106	128
Operating segments | Owned and leased hotels | Owned and leased hotels
Disaggregation of Revenue [Line Items]
Revenues	443	510	1,428	1,641
Operating segments | Owned and leased hotels | Base management fees
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Operating segments | Owned and leased hotels | Incentive management fees
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Operating segments | Owned and leased hotels | Franchise fees
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Operating segments | Owned and leased hotels | Other fees
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Operating segments | Owned and leased hotels | License fees
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Operating segments | Owned and leased hotels | Management, franchise, and other fees
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Operating segments | Owned and leased hotels | Contra revenue
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Operating segments | Owned and leased hotels | Net management, franchise, and other fees
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Operating segments | Owned and leased hotels | Other revenues
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	13
Operating segments | Owned and leased hotels | Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Operating segments | Americas management and franchising
Disaggregation of Revenue [Line Items]
Revenues	538	486	1,619	1,485
Operating segments | Americas management and franchising | Rooms revenues
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Operating segments | Americas management and franchising | Food and beverage
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Operating segments | Americas management and franchising | Other
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Operating segments | Americas management and franchising | Owned and leased hotels
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Operating segments | Americas management and franchising | Base management fees
Disaggregation of Revenue [Line Items]
Revenues	48	47	150	147
Operating segments | Americas management and franchising | Incentive management fees
Disaggregation of Revenue [Line Items]
Revenues	14	15	47	46
Operating segments | Americas management and franchising | Franchise fees
Disaggregation of Revenue [Line Items]
Revenues	32	30	94	84
Operating segments | Americas management and franchising | Other fees
Disaggregation of Revenue [Line Items]
Revenues	1	2	10	12
Operating segments | Americas management and franchising | License fees
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Operating segments | Americas management and franchising | Management, franchise, and other fees
Disaggregation of Revenue [Line Items]
Revenues	95	94	301	289
Operating segments | Americas management and franchising | Contra revenue
Disaggregation of Revenue [Line Items]
Revenues	(4)	(3)	(10)	(9)
Operating segments | Americas management and franchising | Net management, franchise, and other fees
Disaggregation of Revenue [Line Items]
Revenues	91	91	291	280
Operating segments | Americas management and franchising | Other revenues
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Operating segments | Americas management and franchising | Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties
Disaggregation of Revenue [Line Items]
Revenues	447	395	1,328	1,205
Operating segments | ASPAC management and franchising
Disaggregation of Revenue [Line Items]
Revenues	54	46	156	134
Operating segments | ASPAC management and franchising | Rooms revenues
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Operating segments | ASPAC management and franchising | Food and beverage
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Operating segments | ASPAC management and franchising | Other
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Operating segments | ASPAC management and franchising | Owned and leased hotels
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Operating segments | ASPAC management and franchising | Base management fees
Disaggregation of Revenue [Line Items]
Revenues	11	10	32	28
Operating segments | ASPAC management and franchising | Incentive management fees
Disaggregation of Revenue [Line Items]
Revenues	16	15	50	44
Operating segments | ASPAC management and franchising | Franchise fees
Disaggregation of Revenue [Line Items]
Revenues	1	0	2	2
Operating segments | ASPAC management and franchising | Other fees
Disaggregation of Revenue [Line Items]
Revenues	2	2	6	5
Operating segments | ASPAC management and franchising | License fees
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Operating segments | ASPAC management and franchising | Management, franchise, and other fees
Disaggregation of Revenue [Line Items]
Revenues	30	27	90	79
Operating segments | ASPAC management and franchising | Contra revenue
Disaggregation of Revenue [Line Items]
Revenues	0	0	(1)	(1)
Operating segments | ASPAC management and franchising | Net management, franchise, and other fees
Disaggregation of Revenue [Line Items]
Revenues	30	27	89	78
Operating segments | ASPAC management and franchising | Other revenues
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Operating segments | ASPAC management and franchising | Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties
Disaggregation of Revenue [Line Items]
Revenues	24	19	67	56
Operating segments | EAME/SW Asia management and franchising
Disaggregation of Revenue [Line Items]
Revenues	36	31	103	87
Operating segments | EAME/SW Asia management and franchising | Rooms revenues
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Operating segments | EAME/SW Asia management and franchising | Food and beverage
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Operating segments | EAME/SW Asia management and franchising | Other
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Operating segments | EAME/SW Asia management and franchising | Owned and leased hotels
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Operating segments | EAME/SW Asia management and franchising | Base management fees
Disaggregation of Revenue [Line Items]
Revenues	9	8	25	22
Operating segments | EAME/SW Asia management and franchising | Incentive management fees
Disaggregation of Revenue [Line Items]
Revenues	10	8	29	24
Operating segments | EAME/SW Asia management and franchising | Franchise fees
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Operating segments | EAME/SW Asia management and franchising | Other fees
Disaggregation of Revenue [Line Items]
Revenues	2	1	4	3
Operating segments | EAME/SW Asia management and franchising | License fees
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Operating segments | EAME/SW Asia management and franchising | Management, franchise, and other fees
Disaggregation of Revenue [Line Items]
Revenues	21	17	58	49
Operating segments | EAME/SW Asia management and franchising | Contra revenue
Disaggregation of Revenue [Line Items]
Revenues	(1)	(1)	(4)	(3)
Operating segments | EAME/SW Asia management and franchising | Net management, franchise, and other fees
Disaggregation of Revenue [Line Items]
Revenues	20	16	54	46
Operating segments | EAME/SW Asia management and franchising | Other revenues
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Operating segments | EAME/SW Asia management and franchising | Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties
Disaggregation of Revenue [Line Items]
Revenues	16	15	49	41
Corporate and other
Disaggregation of Revenue [Line Items]
Revenues	28	25	92	73
Corporate and other | Rooms revenues
Disaggregation of Revenue [Line Items]
Revenues	5	6	18	18
Corporate and other | Food and beverage
Disaggregation of Revenue [Line Items]
Revenues	2	3	7	9
Corporate and other | Other
Disaggregation of Revenue [Line Items]
Revenues	7	7	23	22
Corporate and other | Owned and leased hotels
Disaggregation of Revenue [Line Items]
Revenues	14	16	48	49
Corporate and other | Base management fees
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Corporate and other | Incentive management fees
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Corporate and other | Franchise fees
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Corporate and other | Other fees
Disaggregation of Revenue [Line Items]
Revenues	2	1	4	2
Corporate and other | License fees
Disaggregation of Revenue [Line Items]
Revenues	5	5	15	14
Corporate and other | Management, franchise, and other fees
Disaggregation of Revenue [Line Items]
Revenues	7	6	19	16
Corporate and other | Contra revenue
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Corporate and other | Net management, franchise, and other fees
Disaggregation of Revenue [Line Items]
Revenues	7	6	19	16
Corporate and other | Other revenues
Disaggregation of Revenue [Line Items]
Revenues	5	3	22	8
Corporate and other | Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties
Disaggregation of Revenue [Line Items]
Revenues	2
Eliminations
Disaggregation of Revenue [Line Items]
Revenues	(25)	(28)	(82)	(88)
Eliminations | Rooms revenues
Disaggregation of Revenue [Line Items]
Revenues	(7)	(10)	(26)	(29)
Eliminations | Food and beverage
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Eliminations | Other
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Eliminations | Owned and leased hotels
Disaggregation of Revenue [Line Items]
Revenues	(7)	(10)	(26)	(29)
Eliminations | Base management fees
Disaggregation of Revenue [Line Items]
Revenues	(13)	(14)	(40)	(47)
Eliminations | Incentive management fees
Disaggregation of Revenue [Line Items]
Revenues	(7)	(7)	(21)	(19)
Eliminations | Franchise fees
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Eliminations | Other fees
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Eliminations | License fees
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Eliminations | Management, franchise, and other fees
Disaggregation of Revenue [Line Items]
Revenues	(20)	(21)	(61)	(66)
Eliminations | Contra revenue
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Eliminations | Net management, franchise, and other fees
Disaggregation of Revenue [Line Items]
Revenues	(20)	(21)	(61)	(66)
Eliminations | Other revenues
Disaggregation of Revenue [Line Items]
Revenues	2	3	5	7
Eliminations | Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Eliminations | Owned and leased hotels
Disaggregation of Revenue [Line Items]
Revenues	7	10	26	29
Eliminations | Americas management and franchising
Disaggregation of Revenue [Line Items]
Revenues	16	18	52	58
Eliminations | ASPAC management and franchising
Disaggregation of Revenue [Line Items]
Revenues	1	0	1	1
Eliminations | EAME/SW Asia management and franchising
Disaggregation of Revenue [Line Items]
Revenues	$ 3	$ 3	$ 8	$ 7

Revenue from Contracts with C_4

Revenue from Contracts with Customers - Contract Balances (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2018	Jan. 01, 2018	Dec. 31, 2017
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Contract assets	$ 1		$ 1				$ 0
Current contract liabilities	332		332			$ 348	348
Current contract liabilities, dollar change			$ (16)
Current contract liabilities, percent change			(4.60%)
Long-term contract liabilities	433		$ 433			$ 424	424
Long-term contract liabilities, dollar change			$ 9
Long-term contract liabilities, percent change			2.40%
Total contract liabilities	765		$ 765				772
Contract liabilities, dollar change			$ (7)
Contract liabilities, percent change			(0.80%)
Revenue recognized from contract with customer	222	$ 216	$ 663	$ 639
Advanced deposits
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total contract liabilities	55		55				59
Deferred revenue related to the loyalty program
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total contract liabilities	584		584				561
Deferred revenue related to system-wide services
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total contract liabilities	14		14				9
Initial fees received from franchise owners
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total contract liabilities	33		33				27
Other deferred revenue
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total contract liabilities	$ 79		$ 79				$ 116
Scenario, Forecast
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Contract assets					$ 0

Revenue from Contracts with C_5

Revenue from Contracts with Customers - Remaining Performance Obligation (Details) $ in Millions	9 Months Ended
	Sep. 30, 2018USD ($)
Revenue from Contract with Customer [Abstract]
Remaining performance obligation	$ 110
Revenue, Performance Obligation, Description of Timing	Revenues received for free nights granted through our co-branded credit card as the awards are required to be redeemed within 12 months; and Revenues related to advanced bookings at owned and leased hotels as each stay has a duration of 12 months or less.
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2018-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percent recognized	20.00%
Remaining performance obligation, period	1 year

Debt and Equity Securities - Sc

Debt and Equity Securities - Schedule of Equity Method Investment Balances (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Investments, Debt and Equity Securities [Abstract]
Equity method investments	$ 225	$ 185

Debt and Equity Securities - Na

Debt and Equity Securities - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017	Dec. 31, 2013
Schedule of Debt and Equity Method Investments
Equity method investment, realized gain on disposal	$ 1		$ 11	$ 2
Equity method investment, net sales proceeds	7		17	4
Equity method investment, net purchase price	$ 4		4
Equity method investment, impairment charges		$ 3	$ 16	$ 3
Common stock, shares sold (in shares)	0		0
Held-to-maturity securities	$ 48		$ 48		$ 47
Equity securities without a readily determinable fair value	9		9		$ 27
Impairment charges on equity securities without readily determinable fair value	22		22
Playa Hotels & Resorts N.V. | Common shares
Schedule of Debt and Equity Method Investments
Increase in other income (loss)	$ (14)		$ (14)
Playa Hotels & Resorts N.V. | Preferred shares
Schedule of Debt and Equity Method Investments
Available-for-sale securities, amortized cost basis						$ 271

Debt and Equity Securities - Su

Debt and Equity Securities - Summarized Financial Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Investments, Debt and Equity Securities [Abstract]
Total revenues	$ 135	$ 196	$ 399	$ 649
Gross operating profit	53	80	141	225
Income (loss) from continuing operations	(12)	38	(15)	36
Net income (loss)	$ (12)	$ 38	$ (15)	$ 36

Debt and Equity Securities - He

Debt and Equity Securities - Held to Fund Operating Programs (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Held for operating programs
Schedule of Investments
Total marketable securities held for investment/operating purposes	$ 918	$ 916
Less current portion of marketable securities held to fund operating programs included in cash and cash equivalents, short-term investments, and prepaids and other assets	(157)	(156)
Marketable securities held to fund operating programs included in other assets	761	760
Deferred compensation plans held in rabbi trusts
Schedule of Investments
Total marketable securities held for investment/operating purposes	413	402
Loyalty program
Schedule of Investments
Total marketable securities held for investment/operating purposes	391	403
Captive insurance companies
Schedule of Investments
Total marketable securities held for investment/operating purposes	$ 114	$ 111

Debt and Equity Securities - Ga

Debt and Equity Securities - Gain (loss) on Investments Held to Fund Operating Programs (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Gain (Loss) on Securities [Line Items]
Loyalty program	$ 10	$ 11	$ 19	$ 35
Net gains and interest income from marketable securities held to fund rabbi trusts	10	11	19	35
Loyalty program
Gain (Loss) on Securities [Line Items]
Loyalty program	1	2	(2)	9
Net gains and interest income from marketable securities held to fund rabbi trusts	1	2	(2)	9
Deferred compensation plans held in rabbi trusts
Gain (Loss) on Securities [Line Items]
Loyalty program	10	11	19	35
Unrealized gains	5	8	7	24
Realized gains	5	3	12	11
Net gains and interest income from marketable securities held to fund rabbi trusts	$ 10	$ 11	$ 19	$ 35

Debt and Equity Securities - _2

Debt and Equity Securities - Held for Investment Purposes (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Schedule of Investments
Common shares	$ 117	$ 131
Held for Investment Purposes
Schedule of Investments
Interest-bearing money market funds	38	26
Time deposits	200	37
Common shares	117	131
Total marketable securities held for investment/operating purposes	355	194
Less current portion of marketable securities held for investment purposes included in cash and cash equivalents and short-term investments	(238)	(63)
Marketable securities held for investment purposes included in other assets	$ 117	$ 131

Debt and Equity Securities - Pr

Debt and Equity Securities - Preferred Shares (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Realized losses	$ 0	$ 0	$ (2)	$ (41)
Interest income	$ 7	5	$ 19	106
Playa Hotels & Resorts B.V. | Preferred shares
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair value beginning balance				290
Gross unrealized losses				(54)
Realized losses				(40)
Interest income				94
Cash redemption				(290)
Fair value ending balance		$ 0		$ 0
Redeemable convertible preferred shares redemption, price per share (in dollars per share)		$ 8.40		$ 8.40

Debt and Equity Securities - Fa

Debt and Equity Securities - Fair Value of Investments (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Investments, fair value disclosure	$ 1,273	$ 1,110
Level One - Quoted Prices in Active Markets for Identical Assets | Interest-bearing money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Investments, fair value disclosure	88	75
Level One - Quoted Prices in Active Markets for Identical Assets | Mutual funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Investments, fair value disclosure	413	402
Level One - Quoted Prices in Active Markets for Identical Assets | Common shares
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Investments, fair value disclosure	117	131
Level Two - Significant Other Observable Inputs | Time deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Investments, fair value disclosure	212	50
Level Two - Significant Other Observable Inputs | U.S. government obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Investments, fair value disclosure	158	158
Level Two - Significant Other Observable Inputs | U.S. government agencies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Investments, fair value disclosure	46	47
Level Two - Significant Other Observable Inputs | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Investments, fair value disclosure	168	179
Level Two - Significant Other Observable Inputs | Mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Investments, fair value disclosure	22	25
Level Two - Significant Other Observable Inputs | Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Investments, fair value disclosure	46	40
Level Two - Significant Other Observable Inputs | Municipal and provincial notes and bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Investments, fair value disclosure	3	3
Cash and cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Investments, fair value disclosure	88	75
Cash and cash equivalents | Level One - Quoted Prices in Active Markets for Identical Assets | Interest-bearing money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Investments, fair value disclosure	88	75
Cash and cash equivalents | Level One - Quoted Prices in Active Markets for Identical Assets | Mutual funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Investments, fair value disclosure	0	0
Cash and cash equivalents | Level One - Quoted Prices in Active Markets for Identical Assets | Common shares
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Investments, fair value disclosure	0	0
Cash and cash equivalents | Level Two - Significant Other Observable Inputs | Time deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Investments, fair value disclosure	0	0
Cash and cash equivalents | Level Two - Significant Other Observable Inputs | U.S. government obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Investments, fair value disclosure	0	0
Cash and cash equivalents | Level Two - Significant Other Observable Inputs | U.S. government agencies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Investments, fair value disclosure	0	0
Cash and cash equivalents | Level Two - Significant Other Observable Inputs | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Investments, fair value disclosure	0	0
Cash and cash equivalents | Level Two - Significant Other Observable Inputs | Mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Investments, fair value disclosure	0	0
Cash and cash equivalents | Level Two - Significant Other Observable Inputs | Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Investments, fair value disclosure	0	0
Cash and cash equivalents | Level Two - Significant Other Observable Inputs | Municipal and provincial notes and bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Investments, fair value disclosure	0	0
Short-term investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Investments, fair value disclosure	217	49
Short-term investments | Level One - Quoted Prices in Active Markets for Identical Assets | Interest-bearing money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Investments, fair value disclosure	0	0
Short-term investments | Level One - Quoted Prices in Active Markets for Identical Assets | Mutual funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Investments, fair value disclosure	0	0
Short-term investments | Level One - Quoted Prices in Active Markets for Identical Assets | Common shares
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Investments, fair value disclosure	0	0
Short-term investments | Level Two - Significant Other Observable Inputs | Time deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Investments, fair value disclosure	204	39
Short-term investments | Level Two - Significant Other Observable Inputs | U.S. government obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Investments, fair value disclosure	0	0
Short-term investments | Level Two - Significant Other Observable Inputs | U.S. government agencies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Investments, fair value disclosure	1	2
Short-term investments | Level Two - Significant Other Observable Inputs | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Investments, fair value disclosure	12	8
Short-term investments | Level Two - Significant Other Observable Inputs | Mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Investments, fair value disclosure	0	0
Short-term investments | Level Two - Significant Other Observable Inputs | Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Investments, fair value disclosure	0	0
Short-term investments | Level Two - Significant Other Observable Inputs | Municipal and provincial notes and bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Investments, fair value disclosure	0	0
Prepaids and other assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Investments, fair value disclosure	90	95
Prepaids and other assets | Level One - Quoted Prices in Active Markets for Identical Assets | Interest-bearing money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Investments, fair value disclosure	0	0
Prepaids and other assets | Level One - Quoted Prices in Active Markets for Identical Assets | Mutual funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Investments, fair value disclosure	0	0
Prepaids and other assets | Level One - Quoted Prices in Active Markets for Identical Assets | Common shares
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Investments, fair value disclosure	0	0
Prepaids and other assets | Level Two - Significant Other Observable Inputs | Time deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Investments, fair value disclosure	0	0
Prepaids and other assets | Level Two - Significant Other Observable Inputs | U.S. government obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Investments, fair value disclosure	37	38
Prepaids and other assets | Level Two - Significant Other Observable Inputs | U.S. government agencies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Investments, fair value disclosure	6	7
Prepaids and other assets | Level Two - Significant Other Observable Inputs | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Investments, fair value disclosure	30	33
Prepaids and other assets | Level Two - Significant Other Observable Inputs | Mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Investments, fair value disclosure	5	6
Prepaids and other assets | Level Two - Significant Other Observable Inputs | Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Investments, fair value disclosure	11	10
Prepaids and other assets | Level Two - Significant Other Observable Inputs | Municipal and provincial notes and bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Investments, fair value disclosure	1	1
Other assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Investments, fair value disclosure	878	891
Other assets | Level One - Quoted Prices in Active Markets for Identical Assets | Interest-bearing money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Investments, fair value disclosure	0	0
Other assets | Level One - Quoted Prices in Active Markets for Identical Assets | Mutual funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Investments, fair value disclosure	413	402
Other assets | Level One - Quoted Prices in Active Markets for Identical Assets | Common shares
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Investments, fair value disclosure	117	131
Other assets | Level Two - Significant Other Observable Inputs | Time deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Investments, fair value disclosure	8	11
Other assets | Level Two - Significant Other Observable Inputs | U.S. government obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Investments, fair value disclosure	121	120
Other assets | Level Two - Significant Other Observable Inputs | U.S. government agencies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Investments, fair value disclosure	39	38
Other assets | Level Two - Significant Other Observable Inputs | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Investments, fair value disclosure	126	138
Other assets | Level Two - Significant Other Observable Inputs | Mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Investments, fair value disclosure	17	19
Other assets | Level Two - Significant Other Observable Inputs | Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Investments, fair value disclosure	35	30
Other assets | Level Two - Significant Other Observable Inputs | Municipal and provincial notes and bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Investments, fair value disclosure	$ 2	$ 2

Financing Receivables - Schedul

Financing Receivables - Schedule of Financing Receivables (Details) - USD ($) $ in Millions	Sep. 30, 2018	Jun. 30, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Dec. 31, 2016
Accounts, Notes, Loans and Financing Receivable
Total long-term financing receivables, net of allowances	$ 14		$ 19
Unsecured financing
Accounts, Notes, Loans and Financing Receivable
Unsecured financing to hotel owners	158		127
Less: current portion of financing receivables, included in receivables, net	(45)		0
Less: allowance for losses	(99)	$ (109)	(108)	$ (107)	$ (105)	$ (100)
Total long-term financing receivables, net of allowances	$ 14		$ 19

Financing Receivables - Allowan

Financing Receivables - Allowance for Losses and Impairments (Details) - Unsecured financing - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Allowance for Losses and Impairments
Allowance beginning Balance	$ 109	$ 105	$ 108	$ 100
Provisions	2	1	3	4
Write-offs	(12)	0
Other adjustments	0	1	(2)	1
Allowance ending Balance	$ 99	$ 107	$ 109	$ 105

Financing Receivables - Credit

Financing Receivables - Credit Monitoring (Details) - Unsecured financing - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2018	Dec. 31, 2017	Jun. 30, 2018	Sep. 30, 2017	Jun. 30, 2017	Dec. 31, 2016
Unsecured Financing Receivables
Gross loan balance (principal and interest)	$ 158	$ 127
Related allowance	(99)	(108)	$ (109)	$ (107)	$ (105)	$ (100)
Net financing receivables	59	19
Gross receivables on non-accrual status	99	108
Loans
Unsecured Financing Receivables
Gross loan balance (principal and interest)	58	13
Related allowance	0	0
Net financing receivables	58	13
Gross receivables on non-accrual status	0	0
Impaired loans
Unsecured Financing Receivables
Impaired Loans	50	59
Impaired loans, allowance	(50)	(59)
Net financing receivables	0	0
Gross receivables on non-accrual status	50	59
Impaired financing receivable, unpaid principal balance	36	44
Impaired financing receivable, average recorded investment	54	58
Total loans
Unsecured Financing Receivables
Gross loan balance (principal and interest)	108	72
Related allowance	(50)	(59)
Net financing receivables	58	13
Gross receivables on non-accrual status	50	59
Other financing arrangements
Unsecured Financing Receivables
Gross loan balance (principal and interest)	50	55
Related allowance	(49)	(49)
Net financing receivables	1	6
Gross receivables on non-accrual status	$ 49	$ 49

Financing Receivables - Narrati

Financing Receivables - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Significant unobservable inputs (level three)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation
Level three financing receivables	$ 60	$ 20

Acquisitions and Dispositions -

Acquisitions and Dispositions - Acquisitions Narrative (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Business Acquisition
Cash consideration transferred		$ 263	$ 259
Goodwill	$ 132	132		$ 150
Proceeds from redeemable noncontrolling interest in preferred shares in a subsidiary		0	9
Payments for repurchase of redeemable preferred stock		10	0
Hyatt Regency Phoenix
Business Acquisition
Business acquisition costs	139
Business combination, proration costs	1
Business acquisition, property and equipment	136	136
Hyatt Regency Indian Wells Resort And Spa
Business Acquisition
Business acquisition costs	120
Business acquisition, property and equipment	$ 119	119
Exhale Enterprises Inc
Business Acquisition
Cash consideration transferred			16
Cash acquired			1
Indefinite-lived intangibles			9
Goodwill			4
Goodwill expected tax deductible amount			3
Miraval Group
Business Acquisition
Business acquisition, property and equipment			172
Cash consideration transferred			237
Indefinite-lived intangibles			37
Goodwill			21
Goodwill expected tax deductible amount			10
Proceeds from redeemable noncontrolling interest in preferred shares in a subsidiary			$ 9
Redeemable preferred shares, preferred return			12.00%
Payments for repurchase of redeemable preferred stock		$ 10

Acquisitions and Dispositions_2

Acquisitions and Dispositions - Schedule of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Business Acquisition
Goodwill	$ 132		$ 150
Other definite-lived intangibles
Business Acquisition
Weighted-average useful life	6 years
Miraval Group
Business Acquisition
Current assets, net of cash acquired		$ 1
Property and equipment		172
Indefinite-lived intangibles		37
Goodwill		21
Total assets		252
Current liabilities		13
Deferred tax liabilities		3
Total liabilities		16
Total net assets acquired attributable to Hyatt Hotels Corporation		236
Total net assets acquired attributable to noncontrolling interests		1
Total net assets acquired		237
Goodwill expected tax deductible amount		10
Miraval Group | Management Agreement
Business Acquisition
Definite-lived intangibles		$ 14
Weighted-average useful life		20 years
Miraval Group | Other definite-lived intangibles
Business Acquisition
Definite-lived intangibles		$ 7
Miraval Group | Other definite-lived intangibles | Minimum
Business Acquisition
Weighted-average useful life		2 years
Miraval Group | Other definite-lived intangibles | Maximum
Business Acquisition
Weighted-average useful life		7 years

Acquisitions and Dispositions_3

Acquisitions and Dispositions - Dispositions Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sales of real estate, net of cash disposed			$ 1,334	$ 296
Gains (losses) on sales of real estate	$ 239	$ 0	769	60
Impairment of assets	21	0	21	0
Equity method investments	225		$ 225		$ 185
Like-kind exchange period for replacement property identified			45 days
Disposal group, disposed of by sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds released	23
Hyatt Regency Mexico City | Disposal group, disposed of by sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal group, consideration	405		$ 405
Proceeds from sales of real estate, net of cash disposed	360
Unsecured financing receivable	45
Gains (losses) on sales of real estate	240		240
Impairment of assets	$ 21		21
Grand Hyatt San Francisco, Andaz Maui at Wailea Resort, and Hyatt Regency Coconut Point Resort & Spa | Disposal group, disposed of by sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sales of real estate, net of cash disposed			992
Gains (losses) on sales of real estate			531
Pre-tax net income		$ 5	$ 15	20
Land Held For Development And Sold In 2018 | Disposal group, disposed of by sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration in exchange for the third party investment	50.00%		50.00%
Land Held For Development And Sold In 2018 | Disposal group, disposed of by sale | Unconsolidated Hospitality Venture
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Equity method investments	$ 45		$ 45
Hyatt Regency Grand Cypress | Disposal group, disposed of by sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sales of real estate, net of cash disposed				202
Gains (losses) on sales of real estate				26
Hyatt Regency Louisville | Disposal group, disposed of by sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sales of real estate, net of cash disposed				65
Gains (losses) on sales of real estate				35
Land Held For Development and sold in 2017 | Disposal group, disposed of by sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sales of real estate and other				$ 29
Equity method investment, ownership percentage		50.00%		50.00%
Hyatt Regency Coconut Point Resort & Spa | Disposal group, disposed of by sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds held as restricted for use			$ 221
Hyatt Regency Phoenix And Hyatt Regency Indian Wells Resort And Spa | Disposal group, disposed of by sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds used to in acquisition	$ 198
Hyatt Regency Scottsdale Resort & Spa at Gainey Ranch | Disposal group, disposed of by sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Real estate sale proceeds held as restricted cash in investing activities					$ 207

Acquisitions and Dispositions_4

Acquisitions and Dispositions - Assets Held For Sale (Details) $ in Millions	Sep. 30, 2018USD ($)
Hyatt House Hotel | Disposal Group, Held-for-sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets held for sale	$ 44

Intangibles, Net - Schedule of

Intangibles, Net - Schedule of Intangible Assets (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2018	Jan. 01, 2018	Dec. 31, 2017
Schedule of Intangible Asset by Major Class
Intangible assets, gross	$ 377		$ 376
Accumulated amortization	(81)		(71)
Intangibles, net	296	$ 305	305
Brand and other indefinite-lived intangibles
Schedule of Intangible Asset by Major Class
Intangible assets, gross	53		53
Management and franchise agreement intangibles
Schedule of Intangible Asset by Major Class
Intangible assets, gross	$ 178		178
Weighted- average useful lives in years	23 years
Lease related intangibles
Schedule of Intangible Asset by Major Class
Intangible assets, gross	$ 123		127
Weighted- average useful lives in years	110 years
Advanced bookings intangibles
Schedule of Intangible Asset by Major Class
Intangible assets, gross	$ 15		9
Weighted- average useful lives in years	5 years
Other definite-lived intangibles
Schedule of Intangible Asset by Major Class
Intangible assets, gross	$ 8		$ 9
Weighted- average useful lives in years	6 years

Intangibles, Net - Amortization

Intangibles, Net - Amortization Expense Table (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 3	$ 3	$ 10	$ 10

Other Assets (Details)

Other Assets (Details) - USD ($) $ in Millions	Sep. 30, 2018	Jan. 01, 2018	Dec. 31, 2017
Other Assets, Noncurrent [Abstract]
Marketable securities held to fund rabbi trusts	$ 413		$ 402
Management and franchise agreement assets constituting payments to customers	385		378
Loyalty program marketable securities	293		298
Common shares of Playa N.V.	117		131
Long-term investments	112		109
Other	75		66
Total other assets	$ 1,395	$ 1,406	$ 1,384

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Debt Instrument
Long-term debt, net of current maturities	$ 1,622,000,000		$ 1,622,000,000		$ 1,440,000,000
Discounts and offering expenses	16,000,000		16,000,000		14,000,000
Loss on extinguishment of debt	7,000,000	$ 0	7,000,000	$ 0
Revolving credit facility
Debt Instrument
Repayments of revolving credit agreement during period			20,000,000
Borrowings from revolving credit facility during period			20,000,000
Line of credit outstanding	0		0		$ 0
Revolving credit facility, remaining borrowing capacity	$ 1,500,000,000		$ 1,500,000,000
Revolving credit facility, weighted average interest rate	4.85%		4.85%
Line of Credit | Revolving credit facility
Debt Instrument
Line of credit facility	$ 1,500,000,000		$ 1,500,000,000
2028 Notes | Senior Notes
Debt Instrument
Long-term debt, fair value	$ 400,000,000		$ 400,000,000
Debt instrument, stated percent	4.375%		4.375%
Issue price percentage	99.866%
Proceeds from issuance of debt	$ 396,000,000
Discounts and offering expenses	4,000,000		$ 4,000,000
2019 Notes | Senior Notes
Debt Instrument
Long-term debt, fair value	$ 196,000,000		$ 196,000,000
Debt instrument, stated percent	6.875%		6.875%
Redemption price	$ 203,000,000
Loss on extinguishment of debt	7,000,000
2021 Notes | Senior Notes
Debt Instrument
Long-term debt, fair value	$ 250,000,000		$ 250,000,000
Debt instrument, stated percent	5.375%		5.375%
2023 Notes | Senior Notes
Debt Instrument
Long-term debt, fair value	$ 350,000,000		$ 350,000,000
Debt instrument, stated percent	3.375%		3.375%
2026 Notes | Senior Notes
Debt Instrument
Long-term debt, fair value	$ 400,000,000		$ 400,000,000
Debt instrument, stated percent	4.85%		4.85%

Debt - Fair Value (Details)

Debt - Fair Value (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Debt Instrument
Capital lease obligations	$ 13	$ 13
Unamortized discount and deferred financing fees	16	14
Quoted prices in active markets for identical assets (level one)
Debt Instrument
Debt, excluding capital lease obligations and unamortized discounts and deferred financing fees, fair value	0	0
Significant other observable inputs (level two)
Debt Instrument
Debt, excluding capital lease obligations and unamortized discounts and deferred financing fees, fair value	1,591	1,459
Significant unobservable inputs (level three)
Debt Instrument
Debt, excluding capital lease obligations and unamortized discounts and deferred financing fees, fair value	65	87
Carrying value
Debt Instrument
Debt, excluding capital lease obligations and unamortized discounts and deferred financing fees, fair value	1,636	1,452
Fair value
Debt Instrument
Debt, excluding capital lease obligations and unamortized discounts and deferred financing fees, fair value	$ 1,656	$ 1,546

Debt - Interest Rate Locks (Det

Debt - Interest Rate Locks (Details)	Sep. 30, 2018USD ($)Interest_rate_lock
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Number of interest rate locks held | Interest_rate_lock	2
Number of interest rate locks settled | Interest_rate_lock	1
Interest Rate Contract
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, notional amount	$ 425,000,000
Interest rate locks settled	225,000,000
Interest rate locks, remaining amounts	$ 200,000,000

Other Long-Term Liabilities (De

Other Long-Term Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2018	Jan. 01, 2018	Dec. 31, 2017
Other Liabilities [Abstract]
Deferred compensation plans held to fund rabbi trusts (Note 4)	$ 413		$ 402
Guarantee liabilities (Note 12)	79		104
Self-insurance liabilities (Note 12)	76		69
Deferred income taxes	42		62
Other	227		226
Total other long-term liabilities	$ 837	$ 863	$ 863

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Tax Credit Carryforward [Line Items]
Effective income tax rate	7.70%	45.20%	21.20%	36.70%
Tax Act, provisional net deferred tax assets			$ 1
Tax Cuts And Jobs Act Of 2017, provisional income tax expense					$ 97
Tax Cuts And Jobs Act Of 2017, change in transition tax for foreign earnings			2
Tax Act, transition tax for foreign earnings					13
Foreign tax credit, provisional valuation allowance			2
Foreign tax credit, valuation allowance					15
Reversal of deferred tax expense			7	$ 9
Total unrecognized tax benefits	$ 93		93		94
Amount of unrecognized tax benefits that would affect the tax rate if recognized					33
Accounting Standards Update 2014-09
Tax Credit Carryforward [Line Items]
Reversal of deferred tax expense					$ 52
Settlement with Taxing Authority
Tax Credit Carryforward [Line Items]
Amount of unrecognized tax benefits that would affect the tax rate if recognized	$ 59		59
Estimated income tax liability based on taxing authority’s assessment			177
Estimated income tax liability, interest			$ 33

Commitments and Contingencies -

Commitments and Contingencies - Commitments and Performance Guarantees Narrative (Details) € in Millions	9 Months Ended
	Sep. 30, 2018USD ($)hotel	Sep. 30, 2018EUR (€)hotel	Jun. 30, 2018USD ($)	Dec. 31, 2017USD ($)	Sep. 30, 2017USD ($)	Jun. 30, 2017USD ($)	Dec. 31, 2016USD ($)
Loss Contingencies
Commitment to loan or investment	$ 370,000,000
Performance guarantee
Loss Contingencies
Remaining maximum exposure	319,000,000
Guarantor obligations, liability (asset), current carrying value	37,000,000		$ 41,000,000	$ 71,000,000	$ 66,000,000	$ 69,000,000	$ 79,000,000
Performance guarantee | Other long-term liabilities
Loss Contingencies
Guarantor obligations, liability (asset), current carrying value	30,000,000			45,000,000
Performance guarantee | Accrued expenses and other current liabilitiess
Loss Contingencies
Guarantor obligations, liability (asset), current carrying value	7,000,000			26,000,000
Performance guarantee | Receivables
Loss Contingencies
Guarantor obligations, liability (asset), current carrying value	0			0
Performance test clause guarantee
Loss Contingencies
Guarantor obligations, liability (asset), current carrying value	$ 0			0
The four managed hotels in France | Performance guarantee
Loss Contingencies
Hotels managed In France | hotel	4	4
Performance guarantee term	7 years
Remaining performance guarantee term	1 year 9 months
Remaining maximum exposure	$ 268,000,000	€ 231
Guarantor obligations, liability (asset), current carrying value	$ 28,000,000		$ 36,000,000	$ 58,000,000	$ 53,000,000	$ 57,000,000	$ 66,000,000

Commitments and Contingencies_2

Commitments and Contingencies - Schedule of Guarantor Obligations (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Guarantor Obligations
Amortization of initial guarantee obligation liability into income	$ (4)	$ (5)			$ (14)	$ (14)
Performance guarantee expense (income), net	(6)	(14)			(41)	(54)
Performance guarantee
Guarantor Obligations
Beginning balance	41	69	$ 71	$ 79	71	79
Initial guarantee obligation liability			0	3
Amortization of initial guarantee obligation liability into income	(4)	(5)	(10)	(9)
Performance guarantee expense (income), net	6	14	35	40
Net payments during the period	(7)	(15)	(55)	(50)
Foreign currency exchange, net	1	3	0	6
Ending balance	37	66	41	69	37	66
Performance guarantee | The four managed hotels in France
Guarantor Obligations
Beginning balance	36	57	58	66	58	66
Initial guarantee obligation liability			0	0
Amortization of initial guarantee obligation liability into income	(3)	(4)	(8)	(7)
Performance guarantee expense (income), net	3	13	36	41
Net payments during the period	(9)	(16)	(50)	(49)
Foreign currency exchange, net	1	3	0	6
Ending balance	28	53	36	57	28	53
Performance guarantee | Other performance guarantees
Guarantor Obligations
Beginning balance	5	12	13	13	13	13
Initial guarantee obligation liability			0	3
Amortization of initial guarantee obligation liability into income	(1)	(1)	(2)	(2)
Performance guarantee expense (income), net	3	1	(1)	(1)
Net payments during the period	2	1	(5)	(1)
Foreign currency exchange, net	0	0	0	0
Ending balance	$ 9	$ 13	$ 5	$ 12	$ 9	$ 13

Commitments and Contingencies_3

Commitments and Contingencies - Schedule of Debt Guarantees (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Loss Contingencies
Debt repayment and other guarantees, other long-term liabilities	$ 79	$ 104
Debt repayment and other guarantees
Loss Contingencies
Debt repayment and other guarantees, maximum potential future payments	750
Debt repayment and other guarantees, maximum exposure net of recoverability from third parties	375
Debt repayment and other guarantees, other long-term liabilities	49	59
Debt repayment and other guarantees | Hotel Property in Washington State
Loss Contingencies
Debt repayment and other guarantees, maximum potential future payments	215
Debt repayment and other guarantees, maximum exposure net of recoverability from third parties	0
Debt repayment and other guarantees, other long-term liabilities	19	26
Debt repayment and other guarantees | Hotel properties in India
Loss Contingencies
Debt repayment and other guarantees, maximum potential future payments	166
Debt repayment and other guarantees, maximum exposure net of recoverability from third parties	166
Debt repayment and other guarantees, other long-term liabilities	11	17
Debt repayment and other guarantees | Hotel property in Massachusetts
Loss Contingencies
Debt repayment and other guarantees, maximum potential future payments	102
Debt repayment and other guarantees, maximum exposure net of recoverability from third parties	102
Debt repayment and other guarantees, other long-term liabilities	1	1
Debt repayment and other guarantees | Hotel and residential properties in Brazil
Loss Contingencies
Debt repayment and other guarantees, maximum potential future payments	95
Debt repayment and other guarantees, maximum exposure net of recoverability from third parties	40
Debt repayment and other guarantees, other long-term liabilities	3	4
Debt repayment and other guarantees | Hotel property in Oregon
Loss Contingencies
Debt repayment and other guarantees, maximum potential future payments	61
Debt repayment and other guarantees, maximum exposure net of recoverability from third parties	10
Debt repayment and other guarantees, other long-term liabilities	4	0
Debt repayment and other guarantees | Hotel properties in California
Loss Contingencies
Debt repayment and other guarantees, maximum potential future payments	31
Debt repayment and other guarantees, maximum exposure net of recoverability from third parties	13
Debt repayment and other guarantees, other long-term liabilities	4	6
Debt repayment and other guarantees | Hotel property in Minnesota
Loss Contingencies
Debt repayment and other guarantees, maximum potential future payments	25
Debt repayment and other guarantees, maximum exposure net of recoverability from third parties	25
Debt repayment and other guarantees, other long-term liabilities	1	2
Debt repayment and other guarantees | Hotel property in Arizona
Loss Contingencies
Debt repayment and other guarantees, maximum potential future payments	25
Debt repayment and other guarantees, maximum exposure net of recoverability from third parties	0
Debt repayment and other guarantees, other long-term liabilities	1	1
Debt repayment and other guarantees | Other
Loss Contingencies
Debt repayment and other guarantees, maximum potential future payments	30
Debt repayment and other guarantees, maximum exposure net of recoverability from third parties	19
Debt repayment and other guarantees, other long-term liabilities	5	$ 2
Debt repayment and other guarantees | Hotel property in Washington State and Hotel property in Oregon
Loss Contingencies
Debt repayment and other guarantees, maximum potential future payments	45
Debt repayment and other guarantees, maximum exposure net of recoverability from third parties	4
Debt repayment and other guarantees | Joint venture | Hotel properties in India
Loss Contingencies
Debt repayment and other guarantees, maximum exposure net of recoverability from third parties	$ 83
Debt repayment and other guarantees, equity method investment, ownership percentage	50.00%

Commitments and Contingencies_4

Commitments and Contingencies - Guarantee Liabilities Fair Value Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Guarantees, fair value disclosure	$ 151	$ 177

Commitments and Contingencies_5

Commitments and Contingencies - Insurance, Collective Bargaining Agreements, Surety Bonds, and Letters of Credit, and Other Narrative (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2018	Dec. 31, 2017
Loss Contingencies
Self insurance reserve, current	$ 37	$ 32
Self-insurance liabilities (Note 12)	76	$ 69
Surety bonds	26
Maximum
Loss Contingencies
Maximum exposure of possible loss	$ 17
United States
Loss Contingencies
Multiemployer plans, collective-bargaining arrangement, percentage of participants	24.00%
Letter of credit
Loss Contingencies
Letters of credit outstanding, amount	$ 297
Letter of credit | Self insurance collateral
Loss Contingencies
Letters of credit outstanding, amount	$ 9

Equity - Schedule of Stockholde

Equity - Schedule of Stockholders' Equity and Noncontrolling Interests (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Jan. 01, 2018	Dec. 31, 2017
Equity Roll Forward
Beginning balance, adjusted						$ 3,839
Beginning balance			$ 3,843	$ 4,080
Net income attributable to Hyatt Hotels Corporation	$ 237	$ 18	725	176
Other comprehensive income	74	0	51	105
Contributions from noncontrolling interests				1
Repurchase of common stock			(654)	(555)
Dividends			(52)
Directors compensation			2	2
Employee stock plan issuance			3	3
Share-based payment activity			21	20
Ending balance	3,935	3,832	3,935	3,832
Retained earnings	3,791		3,791		$ 3,118	3,054
Accounting Standards Update 2014-09 | Restatement Adjustment
Equity Roll Forward
Beginning balance			312
Net income attributable to Hyatt Hotels Corporation		2		3
Retained earnings					$ 172	312
Stockholders' equity
Equity Roll Forward
Beginning balance, adjusted						3,833
Beginning balance				4,075
Net income attributable to Hyatt Hotels Corporation			725	176
Other comprehensive income			51	105
Contributions from noncontrolling interests				0
Repurchase of common stock			(654)	(555)
Dividends			(52)
Directors compensation			2	2
Employee stock plan issuance			3	3
Share-based payment activity			21	20
Ending balance	3,929	3,826	3,929	3,826
Noncontrolling interests in consolidated subsidiaries
Equity Roll Forward
Beginning balance, adjusted						$ 6
Beginning balance				5
Net income attributable to Hyatt Hotels Corporation			0	0
Other comprehensive income			0	0
Contributions from noncontrolling interests				1
Repurchase of common stock			0	0
Dividends			0
Directors compensation			0	0
Employee stock plan issuance			0	0
Share-based payment activity			0	0
Ending balance	$ 6	$ 6	$ 6	$ 6

Equity - Accumulated Other Comp

Equity - Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Total Equity
Beginning balance, adjusted					$ 3,839
Beginning balance			$ 3,843	$ 4,080
Ending balance	$ 3,935	$ 3,832	3,935	3,832
Realized losses	0	0	2	41
Foreign currency translation adjustments
Total Equity
Beginning balance, adjusted					(243)
Beginning balance	(266)	(239)		(299)
Current period other comprehensive income (loss) before reclassification	9	11	(29)	71
Amount reclassified from accumulated other comprehensive loss (a)	62	0	77	0
Ending balance	(195)	(228)	(195)	(228)
Unrealized gains on AFS securities
Total Equity
Beginning balance		78		33
Current period other comprehensive income (loss) before reclassification		(12)		8
Amount reclassified from accumulated other comprehensive loss (a)		0		25
Ending balance		66		66
Unrecognized pension cost
Total Equity
Beginning balance, adjusted					(7)
Beginning balance	(7)	(7)		(7)
Current period other comprehensive income (loss) before reclassification	0	0	0	0
Amount reclassified from accumulated other comprehensive loss (a)	0	0	0	0
Ending balance	(7)	(7)	(7)	(7)
Unrealized losses on derivative instruments
Total Equity
Beginning balance, adjusted					(3)
Beginning balance	(3)	(4)		(4)
Current period other comprehensive income (loss) before reclassification	3	1	3	1
Amount reclassified from accumulated other comprehensive loss (a)	0	0	0	0
Ending balance	0	(3)	0	(3)
Accumulated other comprehensive loss
Total Equity
Beginning balance, adjusted					$ (253)
Beginning balance	(276)	(172)		(277)
Current period other comprehensive income (loss) before reclassification	12	0	(26)	80
Amount reclassified from accumulated other comprehensive loss (a)	62	0	77	25
Ending balance	$ (202)	$ (172)	$ (202)	(172)
Preferred shares | Playa Hotels & Resorts B.V.
Total Equity
Realized losses				40
Realized losses, net of tax				$ 25

Equity - Share Repurchase and D

Equity - Share Repurchase and Dividend (Details) - USD ($)	Sep. 20, 2018	Jul. 31, 2018	Jun. 28, 2018	May 16, 2018	Mar. 29, 2018	Feb. 14, 2018	Oct. 01, 2017	Nov. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Oct. 30, 2018	Dec. 31, 2017	Dec. 31, 2016
Share Repurchase
Stock repurchase program, authorized amount														$ 1,250,000,000	$ 500,000,000
Stock repurchased and retired during period (in shares)											8,560,012	9,492,729
Stock repurchased and retired during period, excluding insignificant expenses											$ 674,000,000	$ 535,000,000
Stock repurchased and retired during period											$ 654,000,000	$ 555,000,000
Percent of stock outstanding repurchased during period											7.00%	7.00%
Stock repurchase program, remaining authorized repurchase amount									$ 210,000,000		$ 210,000,000
Cash dividend paid (in dollars per share)	$ 0.15		$ 0.15		$ 0.15
Cash dividend declared (in dollars per share)		$ 0.15		$ 0.15		$ 0.15			$ 0.15	$ 0	$ 0.45	$ 0
Weighted Average
Share Repurchase
Stock repurchased and retired during period (in dollars per share)											$ 78.42	$ 56.37
May 2018 ASR
Share Repurchase
Stock repurchased and retired during period (in shares)											2,481,341
Stock repurchased and retired during period, excluding insignificant expenses											$ 200,000,000
May 2018 ASR | Weighted Average
Share Repurchase
Stock repurchased and retired during period (in dollars per share)											$ 80.60
August 2017 ASR
Share Repurchase
Stock repurchased and retired during period (in shares)							264,697					1,401,787
Stock repurchased during period, shares (in shares)							1,666,484
Stock repurchased and retired during period (in dollars per share)							$ 60.01
Stock repurchased and retired during period, excluding insignificant expenses												$ 100,000,000
Stock repurchased and retired during period, shares yet to be delivered, value												20,000,000
August 2017 ASR | Weighted Average
Share Repurchase
Stock repurchased and retired during period (in dollars per share)												$ 57.07
March 2017 ASR
Share Repurchase
Stock repurchased and retired during period (in shares)												5,393,669
Stock repurchased and retired during period, excluding insignificant expenses												$ 300,000,000
March 2017 ASR | Weighted Average
Share Repurchase
Stock repurchased and retired during period (in dollars per share)												$ 55.62
November 2017 ASR
Share Repurchase
Stock repurchased and retired during period (in shares)											244,260
Stock repurchased and retired during period								$ 20,000,000
Subsequent event
Share Repurchase
Stock repurchase program, authorized amount													$ 750,000,000

Stock-Based Compensation - Comp

Stock-Based Compensation - Compensation Expense Related to Long-Term Incentive Plan (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award
Compensation expense	$ 5	$ 5	$ 28	$ 26
SARs
Share-based Compensation Arrangement by Share-based Payment Award
Compensation expense	1	1	10	10
RSUs
Share-based Compensation Arrangement by Share-based Payment Award
Compensation expense	2	3	14	14
PSUs
Share-based Compensation Arrangement by Share-based Payment Award
Compensation expense	$ 2	$ 1	$ 4	$ 2

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
SARs and RSUs
Share-based Compensation Arrangement by Share-based Payment Award
Amortization period, deferred compensation expense	3 years
Stock Appreciation Rights (SARS)
Share-based Compensation Arrangement by Share-based Payment Award
Grants in period (in shares)	504,760	625,740
Grants in period, weighted-average fair value at grant date (in dollars per share)	$ 21.18	$ 16.42
Total unearned compensation	$ 5
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award
Grants in period (in shares)	272,549	483,302
Grants in period, weighted-average fair value at grant date (in dollars per share)	$ 79.90	$ 53.77
Total unearned compensation	$ 17
Performance Shares (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award
Total unearned compensation	$ 7
Amortization period, deferred compensation expense	2 years
Performance Shares (PSUs) | Performance Share Units (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award
Grants in period (in shares)	89,441	102,115
Grants in period, weighted-average fair value at grant date (in dollars per share)	$ 82.10	$ 52.65
Performance period	3 years

Related-Party Transactions - Le

Related-Party Transactions - Legal Services (Details) - Family member of management - Related party legal services - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Related Party Transaction
Legal services	$ 2	$ 2	$ 5	$ 3
Due to (from) related parties	$ 2		$ 2		$ 0

Related-Party Transactions - Eq

Related-Party Transactions - Equity Method Investments (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Minimum
Related Party Transaction
Equity method investment, ownership percentage	24.00%		24.00%
Maximum
Related Party Transaction
Equity method investment, ownership percentage	50.00%		50.00%
Equity method investee
Related Party Transaction
Management, franchise, and other fees	$ 5	$ 6	$ 15	$ 18
Due (to) from related parties	14		14		$ 11
Guarantee fees	$ 2	$ 1	$ 5	$ 4

Related-Party Transactions - Sh

Related-Party Transactions - Share Conversion (Details) - $ / shares	Oct. 01, 2018	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Related Party Transaction
Stock repurchased and retired during period (in shares)				8,560,012	9,492,729
Common Class B
Related Party Transaction
Conversion of stock, shares converted (in shares)		950,161	10,154,050	1,207,355	14,926,420
Common stock, par value per share (in dollars per share)		$ 0.01		$ 0.01		$ 0.01
Common Class A
Related Party Transaction
Common stock, par value per share (in dollars per share)		$ 0.01	$ 0.01	$ 0.01	$ 0.01	$ 0.01
Stock repurchased and retired during period (in shares)				257,194
Subsequent event | Common Class B
Related Party Transaction
Stock repurchased and retired during period (in shares)	950,161

Related-Party Transactions - _2

Related-Party Transactions - Share Repurchase (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Related Party Transaction
Stock repurchased during period		$ 654	$ 555
Percent of stock outstanding repurchased during period		7.00%	7.00%
Common Class B
Related Party Transaction
Stock repurchased during period, shares (in shares)	1,813,459	2,427,000	1,813,459
Stock repurchased during period (in dollars per share)	$ 59.29	$ 78.11	$ 59.29
Stock repurchased during period	$ 107	$ 190	$ 107
Percent of stock outstanding repurchased during period		2.00%	2.00%

Segment Information - Summarize

Segment Information - Summarized Consolidated Financial Information by Segment (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Segment Reporting Information
Total revenues	$ 1,074	$ 1,070	$ 3,316	$ 3,345
Adjusted EBITDA	175	177	595	619
Depreciation and amortization	81	88	243	261
Owned and leased hotels
Segment Reporting Information
Total revenues	450	516	1,450	1,661
Other revenues
Segment Reporting Information
Total revenues	7	6	27	28
Management, franchise, and other fees
Segment Reporting Information
Total revenues	133	123	407	367
Contra revenue
Segment Reporting Information
Total revenues	(5)	(4)	(15)	(13)
Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties
Segment Reporting Information
Total revenues	489	429	1,447	1,302
Operating segments | Owned and leased hotels
Segment Reporting Information
Total revenues	443	510	1,428	1,654
Adjusted EBITDA	91	104	324	382
Depreciation and amortization	65	75	197	222
Operating segments | Owned and leased hotels | Owned and leased hotels
Segment Reporting Information
Total revenues	443	510	1,428	1,641
Operating segments | Owned and leased hotels | Other revenues
Segment Reporting Information
Total revenues	0	0	0	13
Operating segments | Owned and leased hotels | Management, franchise, and other fees
Segment Reporting Information
Total revenues	0	0	0	0
Operating segments | Owned and leased hotels | Contra revenue
Segment Reporting Information
Total revenues	0	0	0	0
Operating segments | Owned and leased hotels | Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties
Segment Reporting Information
Total revenues	0	0	0	0
Operating segments | Americas management and franchising
Segment Reporting Information
Total revenues	538	486	1,619	1,485
Adjusted EBITDA	83	81	266	250
Depreciation and amortization	2	2	6	6
Operating segments | Americas management and franchising | Other revenues
Segment Reporting Information
Total revenues	0	0	0	0
Operating segments | Americas management and franchising | Management, franchise, and other fees
Segment Reporting Information
Total revenues	95	94	301	289
Operating segments | Americas management and franchising | Contra revenue
Segment Reporting Information
Total revenues	(4)	(3)	(10)	(9)
Operating segments | Americas management and franchising | Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties
Segment Reporting Information
Total revenues	447	395	1,328	1,205
Operating segments | ASPAC management and franchising
Segment Reporting Information
Total revenues	54	46	156	134
Adjusted EBITDA	19	17	55	48
Depreciation and amortization	1	0	1	0
Operating segments | ASPAC management and franchising | Other revenues
Segment Reporting Information
Total revenues	0	0	0	0
Operating segments | ASPAC management and franchising | Management, franchise, and other fees
Segment Reporting Information
Total revenues	30	27	90	79
Operating segments | ASPAC management and franchising | Contra revenue
Segment Reporting Information
Total revenues	0	0	(1)	(1)
Operating segments | ASPAC management and franchising | Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties
Segment Reporting Information
Total revenues	24	19	67	56
Operating segments | EAME/SW Asia management and franchising
Segment Reporting Information
Total revenues	36	31	103	87
Adjusted EBITDA	12	10	33	26
Depreciation and amortization	0	0	0	0
Operating segments | EAME/SW Asia management and franchising | Other revenues
Segment Reporting Information
Total revenues	0	0	0	0
Operating segments | EAME/SW Asia management and franchising | Management, franchise, and other fees
Segment Reporting Information
Total revenues	21	17	58	49
Operating segments | EAME/SW Asia management and franchising | Contra revenue
Segment Reporting Information
Total revenues	(1)	(1)	(4)	(3)
Operating segments | EAME/SW Asia management and franchising | Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties
Segment Reporting Information
Total revenues	16	15	49	41
Eliminations
Segment Reporting Information
Total revenues	(25)	(28)	(82)	(88)
Adjusted EBITDA	(1)	(2)	2	3
Eliminations | Other revenues
Segment Reporting Information
Total revenues	2	3	5	7
Eliminations | Management, franchise, and other fees
Segment Reporting Information
Total revenues	(20)	(21)	(61)	(66)
Eliminations | Contra revenue
Segment Reporting Information
Total revenues	0	0	0	0
Eliminations | Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties
Segment Reporting Information
Total revenues	0	0	0	0
Eliminations | Owned and leased hotels
Segment Reporting Information
Total revenues	7	10	26	29
Eliminations | Americas management and franchising
Segment Reporting Information
Total revenues	16	18	52	58
Eliminations | ASPAC management and franchising
Segment Reporting Information
Total revenues	1	0	1	1
Eliminations | EAME/SW Asia management and franchising
Segment Reporting Information
Total revenues	3	3	8	7
Eliminations | Corporate and other
Segment Reporting Information
Total revenues	(2)	(3)	(5)	(7)
Corporate and other
Segment Reporting Information
Total revenues	26	25	89	73
Adjusted EBITDA	(29)	(33)	(85)	(90)
Depreciation and amortization	13	11	39	33
Corporate and other | Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties
Segment Reporting Information
Total revenues	$ 2	$ 0	$ 3	$ 0

Segment Information - Reconcili

Segment Information - Reconciliation of Net Income attributable to Hyatt Hotels Corporation to EBITDA and a Reconciliation of EBITDA to Consolidated Adjusted EBITDA (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Segment Reporting Information
NET INCOME ATTRIBUTABLE TO HYATT HOTELS CORPORATION	$ 237	$ 18	$ 725	$ 176
Interest expense	19	20	57	61
Provision for income taxes	19	16	194	103
Depreciation and amortization	81	88	243	261
EBITDA	356	142	1,219	601
Revenues	(1,074)	(1,070)	(3,316)	(3,345)
Costs incurred on behalf of managed and franchised properties	487	425	1,447	1,313
Equity (earnings) losses from unconsolidated hospitality ventures	6	(1)	17	1
Stock-based compensation expense	5	5	28	26
Gains on sales of real estate	(239)	0	(769)	(60)
Impairment of assets	21	0	21	0
Other (income) loss, net	9	16	22	(32)
Pro rata share of unconsolidated hospitality ventures Adjusted EBITDA	14	15	42	59
Adjusted EBITDA	175	177	595	619
Contra revenue
Segment Reporting Information
Revenues	5	4	15	13
Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties
Segment Reporting Information
Revenues	$ (489)	$ (429)	$ (1,447)	$ (1,302)

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of the Calculation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Numerator:
Net income	$ 237	$ 19	$ 725	$ 177
Net income and accretion attributable to noncontrolling interests	0	(1)	0	(1)
NET INCOME ATTRIBUTABLE TO HYATT HOTELS CORPORATION	$ 237	$ 18	$ 725	$ 176
Denominator:
Basic weighted average shares outstanding (in shares)	111,356,759	124,010,961	114,829,210	126,399,472
Share-based compensation and equity classified forward contract (in shares)	1,867,226	1,396,922	1,954,863	1,315,462
Diluted weighted average shares outstanding (in shares)	113,223,985	125,407,883	116,784,073	127,714,934
Basic Earnings Per Share:
Net income—Basic (in dollars per share)	$ 2.12	$ 0.15	$ 6.31	$ 1.40
Net income and accretion attributable to noncontrolling interests - Basic (in dollars per share)	0	(0.01)	0	(0.01)
Net income attributable to Hyatt Hotels Corporation—Basic (in dollars per share)	2.12	0.14	6.31	1.39
Diluted Earnings Per Share:
Net income—Diluted (in dollars per share)	2.09	0.15	6.21	1.39
Net income and accretion attributable to noncontrolling interests - Diluted (in dollars per share)	0	(0.01)	0	(0.01)
Net income attributable to Hyatt Hotels Corporation—Diluted (in dollars per share)	$ 2.09	$ 0.14	$ 6.21	$ 1.38

Earnings Per Share - Anti-dilut

Earnings Per Share - Anti-dilutive Shares Issued (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Stock Appreciation Rights (SARS)
Antidilutive Securities Excluded from Computation of Earnings Per Share
Antidilutive securities excluded from computation of earnings per share (in shares)	0	29,100	0	32,300
Restricted Stock Units (RSUs)
Antidilutive Securities Excluded from Computation of Earnings Per Share
Antidilutive securities excluded from computation of earnings per share (in shares)	0	400	0	200

Other Income (Loss), Net (Detai

Other Income (Loss), Net (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Other Income and Expenses [Abstract]
Interest income	$ 7	$ 5	$ 19	$ 106
Depreciation recovery	5	7	16	19
Performance guarantee liability amortization	4	5	14	14
Debt repayment guarantee liability amortization	2	3	8	8
Cease use liability	0	(21)	0	(21)
Realized losses	0	0	(2)	(41)
Impairment of an equity security without a readily determinable fair value	0	0	(22)	0
Performance guarantee expense (income), net	(6)	(14)	(41)	(54)
Loss on extinguishment of debt	(7)	0	(7)	0
Unrealized gains (losses)	(15)		(21)
Unrealized gains (losses)		0		3
Other, net	1	(1)	14	(2)
Other income (loss), net	$ (9)	$ (16)	$ (22)	$ 32
Cease use liability					$ 21

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent event - USD ($) $ in Millions	Oct. 06, 2018	Oct. 30, 2018	Oct. 09, 2018
Two Roads Hospitality LLC
Subsequent Event [Line Items]
Business acquisition costs	$ 480
Variable consideration	$ 120
Disposal Group, Held-for-sale, Not Discontinued Operations | Hyatt House Hotel
Subsequent Event [Line Items]
Disposal group, consideration			$ 48
Common Stock
Subsequent Event [Line Items]
Stock repurchase program, additional authorized amount		$ 750