Hyatt Hotels (H) 10-Q 31 Oct 19 2019 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2019	Oct. 25, 2019
Document Information
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2019
Entity File Number	001-34521
Entity Registrant Name	HYATT HOTELS CORP
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-1480589
Entity Address, Address Line One	150 North Riverside Plaza
Entity Address, Address Line Two	8th Floor
Entity Address, City or Town	Chicago
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60606
City Area Code	312
Local Phone Number	750-1234
Title of 12(b) Security	Class A common stock
Trading Symbol	H
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001468174
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Amendment Flag	false
Common Class A
Document Information
Entity Common Stock, Shares Outstanding		36,582,951
Common Class B
Document Information
Entity Common Stock, Shares Outstanding		66,163,274

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
REVENUES:
Total revenues	$ 1,215	$ 1,074	$ 3,745	$ 3,316
DIRECT AND SELLING, GENERAL, AND ADMINISTRATIVE EXPENSES:
Depreciation and amortization	85	81	248	243
Other direct costs	28	8	103	23
Selling, general, and administrative	83	82	306	260
Direct and selling, general, and administrative expenses	1,175	1,012	3,598	3,068
Net gains and interest income from marketable securities held to fund rabbi trusts	0	10	41	19
Equity losses from unconsolidated hospitality ventures	(5)	(6)	(2)	(17)
Interest expense	(19)	(19)	(58)	(57)
Gains on sales of real estate	373	239	374	769
Asset impairments	(9)	(21)	(13)	(21)
Other income (loss), net	25	(9)	104	(22)
INCOME BEFORE INCOME TAXES	405	256	593	919
PROVISION FOR INCOME TAXES	(109)	(19)	(148)	(194)
NET INCOME	296	237	445	725
NET INCOME AND ACCRETION ATTRIBUTABLE TO NONCONTROLLING INTERESTS	0	0	0	0
NET INCOME ATTRIBUTABLE TO HYATT HOTELS CORPORATION	$ 296	$ 237	$ 445	$ 725
EARNINGS PER SHARE—Basic
Net income (in dollars per share)	$ 2.84	$ 2.12	$ 4.23	$ 6.31
Net income attributable to Hyatt Hotels Corporation (in dollars per share)	2.84	2.12	4.23	6.31
EARNINGS PER SHARE—Diluted
Net income (in dollars per share)	2.80	2.09	4.17	6.21
Net income attributable to Hyatt Hotels Corporation (in dollars per share)	$ 2.80	$ 2.09	$ 4.17	$ 6.21
Owned and leased hotels
REVENUES:
Total revenues	$ 430	$ 450	$ 1,390	$ 1,450
DIRECT AND SELLING, GENERAL, AND ADMINISTRATIVE EXPENSES:
Owned and leased hotels	346	354	1,070	1,095
Costs incurred on behalf of managed and franchised properties	346	354	1,070	1,095
Management, franchise, and other fees
REVENUES:
Total revenues	148	133	447	407
Amortization of management and franchise agreement assets constituting payments to customers
REVENUES:
Total revenues	(5)	(5)	(16)	(15)
Net management, franchise, and other fees
REVENUES:
Total revenues	143	128	431	392
Other revenues
REVENUES:
Total revenues	25	7	98	27
Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties
REVENUES:
Total revenues	617	489	1,826	1,447
Costs incurred on behalf of managed and franchised properties
DIRECT AND SELLING, GENERAL, AND ADMINISTRATIVE EXPENSES:
Owned and leased hotels	633	487	1,871	1,447
Costs incurred on behalf of managed and franchised properties	$ 633	$ 487	$ 1,871	$ 1,447

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Statement of Comprehensive Income [Abstract]
Net income	$ 296	$ 237	$ 445	$ 725
Other comprehensive income (loss), net of taxes:
Foreign currency translation adjustments, net of tax benefit of $(1) for the three and nine months ended September 30, 2019 and $- and $(1) for the three and nine months ended September 30, 2018, respectively	(27)	71	(27)	48
Unrealized gains (losses) on derivative activity, net of tax benefit of $(3) and $(7) for the three and nine months ended September 30, 2019, respectively, and net of tax expense of $1 for the three and nine months ended September 30, 2018	(9)	3	(21)	3
Other comprehensive income (loss)	(36)	74	(48)	51
COMPREHENSIVE INCOME	260	311	397	776
COMPREHENSIVE INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS	0	0	0	0
COMPREHENSIVE INCOME ATTRIBUTABLE TO HYATT HOTELS CORPORATION	$ 260	$ 311	$ 397	$ 776

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income - Parentheticals - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Statement of Comprehensive Income [Abstract]
Foreign currency translation adjustments, net of tax (benefit)	$ (1)	$ 0	$ (1)	$ (1)
Unrealized gains on derivative activity, net of tax expense	$ (3)	$ 1	$ (7)	$ 1

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2019		Dec. 31, 2018
CURRENT ASSETS:
Cash and cash equivalents	$ 660		$ 570
Restricted cash	140	[1]	33
Short-term investments	63		116
Receivables, net of allowances of $30 and $26 at September 30, 2019 and December 31, 2018, respectively	434		427
Inventories	12		14
Prepaids and other assets	129		149
Prepaid income taxes	21		36
Assets held for sale	17		0
Total current assets	1,476		1,345
Equity method investments	229		233
Property and equipment, net	3,519		3,608
Financing receivables, net of allowances	19		13
Operating lease right-of-use assets	488
Goodwill	322		283
Intangibles, net	453		628
Deferred tax assets	147		180
Other assets	1,476		1,353
TOTAL ASSETS	8,129		7,643
CURRENT LIABILITIES:
Current maturities of long-term debt	11		11
Accounts payable	144		151
Accrued expenses and other current liabilities	315		361
Current contract liabilities	404		388
Accrued compensation and benefits	137		150
Current operating lease liabilities	33
Total current liabilities	1,044		1,061
Long-term debt	1,612		1,623
Long-term contract liabilities	471		442
Long-term operating lease liabilities	395
Other long-term liabilities	846		840
Total liabilities	4,368		3,966
Commitments and contingencies (see Note 13)
EQUITY:
Preferred stock, $0.01 par value per share, 10,000,000 shares authorized and none outstanding at September 30, 2019 and December 31, 2018	0		0
Class A common stock, $0.01 par value per share, 1,000,000,000 shares authorized, 36,811,374 issued and outstanding at September 30, 2019, and Class B common stock, $0.01 par value per share, 398,432,856 shares authorized, 66,438,444 shares issued and outstanding at September 30, 2019. Class A common stock, $0.01 par value per share, 1,000,000,000 shares authorized, 39,507,817 issued and outstanding at December 31, 2018, and Class B common stock, $0.01 par value per share, 399,110,240 shares authorized, 6	1		1
Additional paid-in capital	0		50
Retained earnings	4,003		3,819
Accumulated other comprehensive loss	(248)		(200)
Total stockholders' equity	3,756		3,670
Noncontrolling interests in consolidated subsidiaries	5		7
Total equity	3,761		3,677
TOTAL LIABILITIES AND EQUITY	$ 8,129		$ 7,643
[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, 2019	Dec. 31, 2018
Allowance for doubtful accounts receivable, current	$ 30	$ 26
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)	36,811,374	39,507,817
Common stock, shares, issued (in shares)	36,811,374	39,507,817
Common Class B
Common stock, par value per share (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	398,432,856	399,110,240
Common stock, shares, outstanding (in shares)	66,438,444	67,115,828
Common stock, shares, issued (in shares)	66,438,444	67,115,828

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Statement of Cash Flows [Abstract]
Net income	$ 445	$ 725
Adjustments to reconcile net income to net cash provided by operating activities:
Gains on sales of real estate	(374)	(769)
Depreciation and amortization	248	243
Release of contingent consideration liability	(29)	0
Amortization of share awards	32	28
Deferred income taxes	32	(7)
Asset impairments	13	43
Equity losses from unconsolidated hospitality ventures	2	17
Amortization of management and franchise agreement assets constituting payments to customers	16	15
Distributions from unconsolidated hospitality ventures	10	10
Working capital changes and other	(121)	(173)
Net cash provided by operating activities	274	132
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of marketable securities and short-term investments	(196)	(572)
Proceeds from marketable securities and short-term investments	255	426
Contributions to equity method and other investments	(39)	(52)
Return of equity method and other investments	26	24
Acquisitions, net of cash acquired	(18)	(263)
Capital expenditures	(244)	(195)
Proceeds from sales of real estate, net of cash disposed	461	1,334
Proceeds from financing receivables	46	0
Other investing activities	7	10
Net cash provided by investing activities	298	712
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from long-term debt, net of issuance costs $- and $4, respectively	180	416
Debt issuance cost	0	4
Repayments of debt	(187)	(230)
Repurchases of common stock	(280)	(654)
Contingent consideration paid	(24)	0
Repayments of redeemable noncontrolling interest in preferred shares in a subsidiary	0	(10)
Dividends paid	(60)	(52)
Other financing activities	(9)	(13)
Net cash used in financing activities	(380)	(543)
EFFECT OF EXCHANGE RATE CHANGES ON CASH	6	3
NET INCREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH	198	304
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH—BEGINNING OF YEAR	622	752
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH—END OF PERIOD	820	1,056
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Total cash, cash equivalents, and restricted cash	622	752
Cash paid during the period for interest	78	72
Cash paid during the period for income taxes	52	267
Cash paid for amounts included in the measurement of operating lease liabilities	38
Non-cash investing and financing activities are as follows:
Non-cash contributions to equity method investments	8	53
Non-cash issuance of financing receivables	1	45
Change in accrued capital expenditures	11	$ 7
Non-cash right-of-use assets obtained in exchange for operating lease liabilities	$ 8

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Millions	Total	Common Stock Amount	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Noncontrolling Interests in Consolidated Subsidiaries
Balance, beginning of period at Dec. 31, 2017	$ 3,839	$ 1	$ 967	$ 3,118	$ (253)	$ 6
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Total comprehensive income	434			411	23
Repurchase of common stock	(75)		(75)
Employee stock plan issuance	1		1
Share-based payment activity	13		13
Cash dividends	(18)			(18)
Balance, end of period at Mar. 31, 2018	4,194	1	906	3,511	(230)	6
Balance, beginning of period at Dec. 31, 2017	3,839	1	967	3,118	(253)	6
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Total comprehensive income	776
Cash dividends	(52)
Balance, end of period at Sep. 30, 2018	3,935	1	339	3,791	(202)	6
Balance, beginning of period at Mar. 31, 2018	4,194	1	906	3,511	(230)	6
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Total comprehensive income	31			77	(46)
Repurchase of common stock	(513)		(513)
Directors compensation	2		2
Employee stock plan issuance	1		1
Share-based payment activity	3		3
Cash dividends	(17)			(17)
Balance, end of period at Jun. 30, 2018	3,701	1	399	3,571	(276)	6
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Total comprehensive income	311			237	74
Repurchase of common stock	(66)		(66)	0
Employee stock plan issuance	1		1
Share-based payment activity	5		5
Cash dividends	(17)			(17)
Balance, end of period at Sep. 30, 2018	3,935	1	339	3,791	(202)	6
Balance, beginning of period at Dec. 31, 2018	3,677	1	50	3,819	(200)	7
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Total comprehensive income	53			63	(10)
Noncontrolling interests	(1)					(1)
Repurchase of common stock	(102)		(71)	(31)
Employee stock plan issuance	1		1
Share-based payment activity	20		20
Cash dividends	(20)			(20)
Balance, end of period at Mar. 31, 2019	3,628	1	0	3,831	(210)	6
Balance, beginning of period at Dec. 31, 2018	3,677	1	50	3,819	(200)	7
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Total comprehensive income	397
Cash dividends	(60)
Balance, end of period at Sep. 30, 2019	3,761	1	0	4,003	(248)	5
Balance, beginning of period at Mar. 31, 2019	3,628	1	0	3,831	(210)	6
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Total comprehensive income	84			86	(2)
Noncontrolling interests	(1)					(1)
Repurchase of common stock	(45)		(1)	(44)
Directors compensation	1		1
Employee stock plan issuance	1		1
Share-based payment activity	(1)		(1)
Cash dividends	(20)			(20)
Balance, end of period at Jun. 30, 2019	3,647	1	0	3,853	(212)	5
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Total comprehensive income	260			296	(36)
Repurchase of common stock	(133)		(7)	(126)
Employee stock plan issuance	2		2
Share-based payment activity	5		5
Cash dividends	(20)			(20)
Balance, end of period at Sep. 30, 2019	$ 3,761	$ 1	$ 0	$ 4,003	$ (248)	$ 5

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Changes in Stockholders' Equity - Parenthetical - $ / shares	Sep. 09, 2019	Jun. 10, 2019	Mar. 11, 2019	Sep. 20, 2018	Jun. 28, 2018	Mar. 29, 2018	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018
Statement of Stockholders' Equity [Abstract]
Cash dividend (in dollars per share)	$ 0.19	$ 0.19	$ 0.19	$ 0.15	$ 0.15	$ 0.15	$ 0.19	$ 0.19	$ 0.19	$ 0.15	$ 0.15	$ 0.15

Organization

Organization	9 Months Ended
	Sep. 30, 2019
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, timeshare, fractional, and other forms of residential, vacation, and condominium ownership units. At September 30, 2019 , (i) we operated or franchised 434 full service hotels, comprising 151,995 rooms throughout the world, (ii) we operated or franchised 453 select service hotels, comprising 64,500 rooms, of which 390 hotels are located in the United States, and (iii) our portfolio included 6 franchised all-inclusive Hyatt-branded resorts, comprising 2,403 rooms, and 3 destination wellness resorts, comprising 410 rooms. At September 30, 2019 , our portfolio of properties operated in 63 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, (ii) the term "properties" refers to hotels, resorts, and other properties, including branded spas and fitness studios, and residential, vacation, and condominium ownership units that we develop, own, operate, manage, franchise, or to which we provide services or license our trademarks, (iii) "Hyatt portfolio of properties" or "portfolio of properties" refers to hotels and other properties that we develop, own, operate, manage, franchise, license, or provide services to, including under the Park Hyatt, Miraval, Grand Hyatt, Alila, Andaz, The Unbound Collection by Hyatt, Destination, Hyatt Regency, Hyatt, Hyatt Ziva, Hyatt Zilara, Thompson Hotels, Hyatt Centric, Caption by Hyatt, Joie de Vivre, Hyatt House, Hyatt Place, tommie, Hyatt Residence Club and Exhale brands, (iv) the term "worldwide hotel portfolio" includes our full and select service hotels, and (v) the term "worldwide property portfolio" includes our wellness and all-inclusive resorts, branded spas and fitness studios, and residential, vacation, and condominium ownership units in addition to our worldwide hotel portfolio. 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, 2018 (the " 2018 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, 2019
Accounting Policies [Abstract]
Recently Issued Accounting Pronouncements	RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS Adopted Accounting Standards Leases —In February 2016, the Financial Accounting Standards Board ("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 ("ROU") asset and lease liability with certain practical expedients available. ROU assets represent our right to use an underlying asset for the lease term, and lease liabilities represent our obligation to make fixed minimum lease payments arising from the lease. ROU assets and lease liabilities are recognized at the commencement date based on the present value of fixed minimum lease payments over the lease term, including optional periods for which it is reasonably certain the renewal option will be exercised. 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. We adopted ASU 2016-02 utilizing the optional transition approach under ASU 2018-11 and applied the package of practical expedients beginning January 1, 2019. As a result of utilizing the optional transition method, our reporting for periods prior to January 1, 2019 continue to be reported in accordance with Leases (Topic 840) . We elected the following additional practical expedients: (i) for office space, land, and hotel leases, we do not separate the lease and nonlease components, which primarily relate to common area maintenance and utilities, (ii) we combine lease and nonlease components for those leases where we are the lessor, and (iii) we exclude all leases that are twelve months or less from the ROU assets and lease liabilities. For leases in place upon adoption, we used the remaining lease term as of January 1, 2019 in determining the incremental borrowing rate ("IBR"). For the initial measurement of the lease liabilities for leases commencing on or after January 1, 2019, the IBR at the lease commencement date was applied. For operating leases, the adoption of ASU 2016-02 resulted in the initial recognition of ROU assets of $512 million and related lease liabilities of $452 million on our condensed consolidated balance sheet at January 1, 2019. Upon adoption, we reclassified $103 million of intangibles, net related to below market leases and $49 million of deferred rent and other lease liabilities to the operating ROU assets. The net tax impact upon adoption was insignificant. The adoption of ASU 2016-02 did not significantly impact our accounting for finance leases or for those leases where we are the lessor. Additionally, the adoption of ASU 2016-02 did not materially affect our condensed consolidated statements of income or our condensed consolidated statements of cash flows. The impact on our condensed consolidated balance sheet upon adoption of ASU 2016-02 was as follows: December 31, 2018 January 1, 2019 Effect of the adoption of ASU 2016-02 As adjusted ASSETS Prepaids and other assets $ 149 $ (2 ) $ 147 Intangibles, net 628 (103 ) 525 Other assets 1,353 (7 ) 1,346 Operating lease right-of-use assets — 512 512 TOTAL ASSETS $ 7,643 $ 400 $ 8,043 LIABILITIES AND EQUITY Accounts payable $ 151 $ (1 ) $ 150 Accrued expenses and other current liabilities 361 (2 ) 359 Current operating lease liabilities — 34 34 Long-term operating lease liabilities — 418 418 Other long-term liabilities 840 (49 ) 791 Total liabilities 3,966 400 4,366 Total equity 3,677 — 3,677 TOTAL LIABILITIES AND EQUITY $ 7,643 $ 400 $ 8,043 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 early adopted ASU 2018-15 on January 1, 2019 on a prospective basis which did not materially impact our condensed consolidated financial statements. Future Adoption of Accounting Standards 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 allowances for credit losses 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 available-for-sale ("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. While we continue to evaluate the impact of adopting ASU 2016-13, we do not expect a material impact upon adoption related to receivables at our owned and leased properties, AFS debt securities, and debt repayment guarantees. We are continuing to evaluate other potential impacts on our condensed consolidated financial statements, including the impact on our remaining receivables, held-to-maturity ("HTM") debt securities, and financing receivables.

Revenue from Contracts with Cus

Revenue from Contracts with Customers	9 Months Ended
	Sep. 30, 2019
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with Customers	REVENUE FROM CONTRACTS WITH CUSTOMERS Disaggregated Revenues The following tables present our revenues disaggregated by the nature of the product or service: Three Months Ended September 30, 2019 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 $ 259 $ — $ — $ — $ 4 $ (11 ) $ 252 Food and beverage 131 — — — 3 — 134 Other 35 — — — 9 — 44 Owned and leased hotels 425 — — — 16 (11 ) 430 Base management fees — 55 11 10 — (12 ) 64 Incentive management fees — 13 17 9 — (6 ) 33 Franchise fees — 36 1 — — — 37 Other fees — 2 3 2 1 — 8 License fees — — — — 6 — 6 Management, franchise, and other fees — 106 32 21 7 (18 ) 148 Amortization of management and franchise agreement assets constituting payments to customers — (4 ) — (1 ) — — (5 ) Net management, franchise, and other fees — 102 32 20 7 (18 ) 143 Other revenues — 16 — — 9 — 25 Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties — 565 30 20 2 — 617 Total $ 425 $ 683 $ 62 $ 40 $ 34 $ (29 ) $ 1,215 Nine Months Ended September 30, 2019 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 $ 804 $ — $ — $ — $ 17 $ (27 ) $ 794 Food and beverage 452 — — — 9 — 461 Other 108 — — — 27 — 135 Owned and leased hotels 1,364 — — — 53 (27 ) 1,390 Base management fees — 173 33 27 — (38 ) 195 Incentive management fees — 46 51 26 — (17 ) 106 Franchise fees — 104 3 — — — 107 Other fees — 3 9 5 4 — 21 License fees — — — — 18 — 18 Management, franchise, and other fees — 326 96 58 22 (55 ) 447 Amortization of management and franchise agreement assets constituting payments to customers — (11 ) (1 ) (4 ) — — (16 ) Net management, franchise, and other fees — 315 95 54 22 (55 ) 431 Other revenues — 71 — — 26 1 98 Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties — 1,688 80 54 4 — 1,826 Total $ 1,364 $ 2,074 $ 175 $ 108 $ 105 $ (81 ) $ 3,745 Three Months Ended September 30, 2018 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 Amortization of management and franchise agreement assets constituting payments to customers — (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 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 Amortization of management and franchise agreement assets constituting payments to customers — (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 Contract Balances Our contract assets were $2 million and insignificant at September 30, 2019 and December 31, 2018 , respectively. At September 30, 2019 , 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. Contract liabilities are comprised of the following: September 30, 2019 December 31, 2018 Deferred revenue related to the loyalty program $ 657 $ 596 Advanced deposits 77 81 Initial fees received from franchise owners 39 35 Deferred revenue related to system-wide services 11 7 Other deferred revenue 91 111 Total contract liabilities $ 875 $ 830 The following table summarizes the activity in our contract liabilities: 2019 2018 Beginning balance, January 1 $ 830 $ 772 Cash received and other 490 433 Revenue recognized (459 ) (441 ) Ending balance, June 30 $ 861 $ 764 Cash received and other 265 223 Revenue recognized (251 ) (222 ) Ending balance, September 30 $ 875 $ 765 Revenue recognized during the three months ended September 30, 2019 and September 30, 2018 included in the contract liabilities balance at the beginning of each year was $80 million and $81 million , respectively. Revenue recognized during the nine months ended September 30, 2019 and September 30, 2018 included in the contract liabilities balance at the beginning of each year was $318 million and $299 million , respectively. This revenue primarily relates to the loyalty program, which is recognized net of redemption reimbursements paid to third parties, and advanced deposits. 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 $130 million at September 30, 2019 , 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 cards as the awards are required to be redeemed within 12 months; and •

Debt and Equity Securities

Debt and Equity Securities	9 Months Ended
	Sep. 30, 2019
Investments, Debt and Equity Securities [Abstract]
Debt and Equity Securities	DEBT AND EQUITY SECURITIES Equity Method Investments Equity method investments were $229 million and $233 million at September 30, 2019 and December 31, 2018 , respectively. During the nine months ended September 30, 2019 , we recognized $8 million of gains in equity 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, 2019 , we received $2 million and $25 million of sales proceeds, respectively. During the three and nine months ended September 30, 2019 , we recognized $6 million and $7 million of impairment charges, respectively, primarily related to one unconsolidated hospitality venture in equity 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 three and nine months ended September 30, 2018 , we recognized $1 million and $11 million of net gains, respectively, in equity 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 of sales proceeds, respectively. 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 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. 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, 2019 2018 2019 2018 Total revenues $ 130 $ 135 $ 371 $ 399 Gross operating profit 51 53 139 141 Income (loss) from continuing operations 9 (12 ) (2 ) (15 ) Net income (loss) 9 (12 ) (2 ) (15 ) 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, 2019 December 31, 2018 Loyalty program (Note 9) $ 453 $ 397 Deferred compensation plans held in rabbi trusts (Note 9 and Note 11) 419 367 Captive insurance companies 136 133 Total marketable securities held to fund operating programs $ 1,008 $ 897 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 (205 ) (174 ) Marketable securities held to fund operating programs included in other assets $ 803 $ 723 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, 2019 2018 2019 2018 Loyalty program (Note 19) $ 5 $ 1 $ 24 $ (2 ) Net realized and unrealized gains (losses) 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, 2019 2018 2019 2018 Unrealized gains (losses) $ (2 ) $ 5 $ 35 $ 7 Realized gains 2 5 6 12 Net gains and interest income from marketable securities held to fund rabbi trusts $ — $ 10 $ 41 $ 19 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 2019 through 2024. 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, 2019 December 31, 2018 Interest-bearing money market funds $ 202 $ 14 Common shares of Playa N.V. (Note 9) 95 87 Time deposits 37 100 Total marketable securities held for investment purposes $ 334 $ 201 Less: current portion of marketable securities held for investment purposes included in cash and cash equivalents and short-term investments (239 ) (114 ) Marketable securities held for investment purposes included in other assets $ 95 $ 87 We hold common shares of Playa Hotels & Resorts N.V. ("Playa N.V.") which are 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 $1 million of unrealized gains and $14 million of unrealized losses for the three months ended September 30, 2019 and September 30, 2018 , respectively, and $8 million of unrealized gains and $14 million of unrealized losses for the nine months ended September 30, 2019 and September 30, 2018 , respectively, recognized in other income (loss), net on our condensed consolidated statements of income (see Note 19 ). We did no t sell any shares of common stock during the nine months ended September 30, 2019 . Other Investments HTM Debt Securities —At September 30, 2019 and December 31, 2018 , we held $56 million and $49 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 on our condensed consolidated balance sheets. The securities are mandatorily redeemable between 2020 and 2025. The amortized cost of our investments approximates 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 models 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, 2019 and December 31, 2018 , we held $9 million 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. These investments are recorded within other assets on our condensed consolidated balance sheets. 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 for our full investment balance in other income (loss), net on our condensed consolidated statements of income (see Note 19) as 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 held our investment disposed of its assets. Fair Value —We measured the following financial assets at fair value on a recurring basis: September 30, 2019 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 $ 308 $ 308 $ — $ — $ — Mutual funds 419 — — — 419 Common shares 95 — — — 95 Level Two - Significant Other Observable Inputs Time deposits 49 — 41 — 8 U.S. government obligations 195 — — 34 161 U.S. government agencies 58 — 2 7 49 Corporate debt securities 155 — 20 21 114 Mortgage-backed securities 23 — — 4 19 Asset-backed securities 38 — — 7 31 Municipal and provincial notes and bonds 2 — — — 2 Total $ 1,342 $ 308 $ 63 $ 73 $ 898 December 31, 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 367 — — — 367 Common shares 87 — — — 87 Level Two - Significant Other Observable Inputs Time deposits 113 — 104 — 9 U.S. government obligations 169 — — 37 132 U.S. government agencies 52 — 2 7 43 Corporate debt securities 151 — 10 25 116 Mortgage-backed securities 23 — — 5 18 Asset-backed securities 46 — — 10 36 Municipal and provincial notes and bonds 2 — — — 2 Total $ 1,098 $ 88 $ 116 $ 84 $ 810 During the three and nine months ended September 30, 2019 and September 30, 2018 , 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, 2019
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
Financing Receivables	FINANCING RECEIVABLES September 30, 2019 December 31, 2018 Unsecured financing to hotel owners $ 119 $ 159 Less: current portion of financing receivables, included in receivables, net — (45 ) Less: allowance for losses (100 ) (101 ) Total long-term financing receivables, net of allowances $ 19 $ 13 Allowance for Losses and Impairments —The following table summarizes the activity in our unsecured financing receivables allowance: 2019 2018 Allowance at January 1 $ 101 $ 108 Provisions 3 3 Other adjustments — (2 ) Write-offs (4 ) — Allowance at June 30 $ 100 $ 109 Provisions 1 2 Other adjustments (1 ) — Write-offs — (12 ) Allowance at September 30 $ 100 $ 99 Credit Monitoring —Our unsecured financing receivables were as follows: September 30, 2019 Gross loan balance (principal and interest) Related allowance Net financing receivables Gross receivables on non-accrual status Loans $ 17 $ (1 ) $ 16 $ — Impaired loans (1) 44 (44 ) — 44 Total loans 61 (45 ) 16 44 Other financing arrangements 58 (55 ) 3 58 Total unsecured financing receivables $ 119 $ (100 ) $ 19 $ 102 (1) The unpaid principal balance was $34 million and the average recorded loan balance was $47 million at September 30, 2019 . December 31, 2018 Gross loan balance (principal and interest) Related allowance Net financing receivables Gross receivables on non-accrual status Loans $ 58 $ — $ 58 $ — Impaired loans (2) 50 (50 ) — 50 Total loans 108 (50 ) 58 50 Other financing arrangements 51 (51 ) — 51 Total unsecured financing receivables $ 159 $ (101 ) $ 58 $ 101 (2) The unpaid principal balance was $36 million and the average recorded loan balance was $54 million at December 31, 2018 . Fair Value —We estimated the fair value of financing receivables, which are classified as Level Three in the fair value hierarchy, to be approximately $20 million and $59 million at September 30, 2019 and December 31, 2018 , respectively.

Acquisitions and Dispositions

Acquisitions and Dispositions	9 Months Ended
	Sep. 30, 2019
Business Combinations [Abstract]
Acquisitions and Dispositions	ACQUISITIONS AND DISPOSITIONS Acquisitions Land —During the nine months ended September 30, 2019 , we acquired $15 million of land through an asset acquisition from an unrelated third party to develop a hotel in Austin, Texas and subsequently signed a purchase and sale agreement to sell the land and related construction in progress. At September 30, 2019, these assets are classified as held for sale within our owned and leased hotels segment on our condensed consolidated balance sheet, and the sale closed subsequent to September 30, 2019 . Two Roads Hospitality LLC —During the year ended December 31, 2018 , we acquired all of the outstanding equity interests of Two Roads Hospitality LLC ("Two Roads") in a business combination for a purchase price of $405 million . The transaction also included potential additional consideration including (i) up to $96 million if the sellers completed specific actions with respect to certain of the acquired management agreements within 120 days from the date of acquisition and (ii) up to $8 million in the event of the execution of certain potential new management agreements related to the development of certain potential new deals previously identified and generated by the sellers or affiliates of the sellers within one year of the closing of the transaction. One of the sellers is indirectly owned by a limited partnership affiliated with the brother of our Executive Chairman. We closed on the transaction on November 30, 2018 and paid cash of $415 million , net of $37 million cash acquired. Cash paid at closing was inclusive of a $36 million payment of the aforementioned additional consideration and $4 million of other purchase price adjustments. Related to the $68 million of potential additional consideration, we recorded a $57 million contingent liability in accrued expenses and other current liabilities on our condensed consolidated balance sheet at December 31, 2018 , which represented our estimate of the remaining expected consideration to be paid. Net assets acquired were determined as follows: Cash paid, net of cash acquired $ 415 Cash acquired 37 Contingent consideration liability 57 Net assets acquired at December 31, 2018 $ 509 Post-acquisition working capital adjustments (2 ) Net assets acquired at September 30, 2019 $ 507 As it relates to the $57 million contingent consideration liability recorded at December 31, 2018, of which $4 million remains at September 30, 2019 , the following occurred during the nine months ended September 30, 2019 : • The sellers completed the aforementioned specific actions with respect to certain management agreements, and we paid $24 million of additional consideration to the sellers. • For those management agreements where the specific actions were not completed or payment is no longer probable, we released $2 million and $29 million of the contingent liability to other income (loss), net on our condensed consolidated statements of income during the three and nine months ended September 30, 2019 , respectively (see Note 19). The acquisition includes management and license agreements for operating and pipeline hotels primarily across North America and Asia under five hospitality brands. Our condensed consolidated balance sheets at September 30, 2019 and December 31, 2018 reflect preliminary estimates of the fair value of the assets acquired and liabilities assumed. The fair values, which are classified as Level Three in the fair value hierarchy, are based on information that was available as of the date of acquisition and estimated using discounted future cash flow models and relief from royalty method, including revenue projections based on the expected contract terms and long-term growth rates. During 2019, the estimated fair values of assets and liabilities were revised as we refined our analysis of contract terms and renewal assumptions which affected the underlying cash flows in the valuation. This resulted in a $34 million reduction in intangibles, net with an offsetting increase in goodwill on our condensed consolidated balance sheet at September 30, 2019 . We continue to evaluate the underlying inputs and assumptions used in our valuation and accordingly, these estimates are subject to change during the one year measurement period. The following table summarizes the preliminary fair value of the identifiable net assets acquired at September 30, 2019 : Cash $ 32 Receivables 20 Other current assets 2 Equity method investment 2 Property and equipment 2 Indefinite-lived intangibles (1) 96 Management agreement intangibles (2), (5) 209 Goodwill (3) 194 Other assets (4) 25 Total assets $ 582 Advanced deposits $ 20 Other current liabilities 22 Other long-term liabilities (4) 33 Total liabilities 75 Total net assets acquired $ 507 (1) Includes intangibles attributable to the Destination, Alila, and Thompson brands. (2) Amortized over useful lives of 1 to 19 years , with a weighted-average useful life of approximately 12 years . (3) The goodwill, of which $152 million is tax deductible, is attributable to the growth opportunities Hyatt expects to realize by expanding into new markets and enhancing guest experiences through a distinctive collection of lifestyle brands and recorded in the Americas management and franchising segment. (4) Includes $13 million of prior year tax liabilities relating to certain foreign filing positions, including $4 million of interest and penalties. We recorded an offsetting indemnification asset which we expect to collect under contractual arrangements. (5) See Note 8 for impairment discussion. 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). Dispositions Hyatt Regency Atlanta —During the three months ended September 30, 2019 , we sold Hyatt Regency Atlanta to an unrelated third party for approximately $346 million , net of closing costs and proration adjustments, and accounted for the transaction as an asset disposition. We entered into a long-term management agreement for the property upon sale. The sale resulted in a $272 million pre-tax gain 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, 2019 . The operating results and financial position of this hotel prior to the sale remain within our owned and leased hotels segment. Land and Lease Assignment —During the three months ended September 30, 2019 , we sold the property adjacent to Grand Hyatt San Francisco and assigned the related Apple store lease to an unrelated third party for approximately $115 million , net of closing costs and proration adjustments, and accounted for the transaction as an asset disposition. The sale resulted in a $101 million pre-tax gain 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, 2019 . The operating results and financial position of this property prior to the sale remain within our owned and leased hotels segment. 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 $46 million of unsecured financing receivables which were repaid in full during the nine months ended September 30, 2019 (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. The assets disposed represented the entirety of the related reporting unit and therefore, no business operations remained 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. 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 accounted for the transaction as an asset disposition. We 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 did not qualify as discontinued operations, the disposal was considered to be material. Pre-tax net income attributable to the three properties was $15 million during the nine months ended September 30, 2018 . 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. 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 and are unavailable for our use until released. The proceeds are recorded 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 the property adjacent to Grand Hyatt San Francisco during the three months ended September 30, 2019 , $115 million of proceeds were held as restricted for use in a potential like-kind exchange. In conjunction with the sale of Hyatt Regency Coconut Point Resort and Spa during the nine months ended September 30, 2018 , $221 million of proceeds 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.

Leases

Leases	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Leases	LEASES Lessee —We primarily lease land, buildings, office space, spas and fitness centers, and equipment. We determine if an arrangement is an operating or finance lease at inception. For our hotel management agreements, we apply judgment in order to determine whether the contract is accounted for as a lease or management agreement based on the specific facts and circumstances of each agreement. In evaluating whether an agreement constitutes a lease, we review the contractual terms to determine which party obtains both the economic benefits and control of the assets. In arrangements where we control the assets and obtain the economic benefits, we account for the contract as a lease. Certain of our leases include options to extend the lease term by 1 to 99 years . We include lease extension options in our operating ROU assets and lease liabilities when it is reasonably certain that we will exercise the options. The range of extension options included in our operating ROU assets and lease liabilities is approximately 1 to 20 years . Our lease agreements do not contain any significant residual value guarantees or restrictive covenants. As our leases do not provide an implicit borrowing rate, we use our estimated IBR to determine the present value of our lease payments and apply a portfolio approach. We apply judgment in estimating the IBR including factors related to currency risk and our credit risk. We also give consideration to our recent debt issuances as well as publicly available data for instruments with similar characteristics when determining our IBR. Our operating leases may include the following terms: (i) fixed minimum lease payments, (ii) variable lease payments based on a percentage of the hotel's profitability measure, as defined in the lease, (iii) lease payments equal to the greater of a minimum or variable lease payments based on a percentage of the hotel's profitability measure, as defined in the lease, or (iv) lease payments adjusted for changes in an index or market value. Future lease payments that are contingent are not included in the measurement of the operating lease liability or in the future maturities table below. Total lease expense related to short-term leases and finance leases was insignificant for the three and nine months ended September 30, 2019 . A summary of operating lease expense is as follows: Three Months Ended September 30, Nine Months Ended September 30, 2019 2019 Minimum rentals $ 12 $ 37 Contingent rentals 22 78 Total operating lease expense $ 34 $ 115 Supplemental balance sheet information related to finance leases is as follows: September 30, 2019 Property and equipment, net (1) $ 9 Current maturities of long-term debt 2 Long-term debt 9 Total finance lease liabilities $ 11 (1) Finance lease assets are net of $13 million of accumulated amortization. Weighted-average remaining lease terms and discount rates are as follows: September 30, 2019 Weighted-average remaining lease term in years Operating leases (1) 21 Finance leases 7 Weighted-average discount rate Operating leases 3.7 % Finance leases 0.9 % (1) Certain of our hotel and land leases have nominal or contingent rental payments. As such, this results in a lower weighted-average remaining lease term. The maturities of lease liabilities in accordance with Leases (Topic 842) in each of the next five years and thereafter at September 30, 2019 are as follows: Operating leases Finance leases 2019 (remaining) $ 12 $ — 2020 47 3 2021 44 2 2022 42 2 2023 39 2 Thereafter 452 5 Total minimum lease payments $ 636 $ 14 Less: amount representing interest (208 ) (3 ) Present value of minimum lease payments $ 428 $ 11 The future minimum lease payments from our 2018 Form 10-K as filed in accordance with Leases (Topic 840) in each of the next five years and thereafter are as follows: Years ending December 31, Operating leases Capital leases 2019 $ 46 $ 3 2020 42 3 2021 42 2 2022 38 2 2023 35 2 Thereafter 448 5 Total minimum lease payments $ 651 $ 17 Less: amount representing interest (5 ) Present value of minimum lease payments $ 12 Lessor —We lease retail space under operating leases at our owned hotel locations. Rental payments are primarily fixed with certain variable payments based on a contractual percentage of revenues. We recognized rental income within owned and leased hotels revenues on our condensed consolidated statements of income as follows: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Rental income $ 5 $ 7 $ 18 $ 20 The future minimum lease receipts in accordance with Leases (Topic 842) scheduled to be received in each of the next five years and thereafter at September 30, 2019 are as follows: 2019 (remaining) $ 5 2020 16 2021 12 2022 11 2023 8 Thereafter 14 Total minimum lease receipts $ 66 The future minimum lease receipts from our 2018 Form 10-K as filed in accordance with Leases (Topic 840) scheduled to be received in each of the next five years and thereafter are as follows: Years ending December 31, 2019 $ 22 2020 18 2021 16 2022 15 2023 11 Thereafter 48 Total minimum lease receipts $ 130
Leases	LEASES Lessee —We primarily lease land, buildings, office space, spas and fitness centers, and equipment. We determine if an arrangement is an operating or finance lease at inception. For our hotel management agreements, we apply judgment in order to determine whether the contract is accounted for as a lease or management agreement based on the specific facts and circumstances of each agreement. In evaluating whether an agreement constitutes a lease, we review the contractual terms to determine which party obtains both the economic benefits and control of the assets. In arrangements where we control the assets and obtain the economic benefits, we account for the contract as a lease. Certain of our leases include options to extend the lease term by 1 to 99 years . We include lease extension options in our operating ROU assets and lease liabilities when it is reasonably certain that we will exercise the options. The range of extension options included in our operating ROU assets and lease liabilities is approximately 1 to 20 years . Our lease agreements do not contain any significant residual value guarantees or restrictive covenants. As our leases do not provide an implicit borrowing rate, we use our estimated IBR to determine the present value of our lease payments and apply a portfolio approach. We apply judgment in estimating the IBR including factors related to currency risk and our credit risk. We also give consideration to our recent debt issuances as well as publicly available data for instruments with similar characteristics when determining our IBR. Our operating leases may include the following terms: (i) fixed minimum lease payments, (ii) variable lease payments based on a percentage of the hotel's profitability measure, as defined in the lease, (iii) lease payments equal to the greater of a minimum or variable lease payments based on a percentage of the hotel's profitability measure, as defined in the lease, or (iv) lease payments adjusted for changes in an index or market value. Future lease payments that are contingent are not included in the measurement of the operating lease liability or in the future maturities table below. Total lease expense related to short-term leases and finance leases was insignificant for the three and nine months ended September 30, 2019 . A summary of operating lease expense is as follows: Three Months Ended September 30, Nine Months Ended September 30, 2019 2019 Minimum rentals $ 12 $ 37 Contingent rentals 22 78 Total operating lease expense $ 34 $ 115 Supplemental balance sheet information related to finance leases is as follows: September 30, 2019 Property and equipment, net (1) $ 9 Current maturities of long-term debt 2 Long-term debt 9 Total finance lease liabilities $ 11 (1) Finance lease assets are net of $13 million of accumulated amortization. Weighted-average remaining lease terms and discount rates are as follows: September 30, 2019 Weighted-average remaining lease term in years Operating leases (1) 21 Finance leases 7 Weighted-average discount rate Operating leases 3.7 % Finance leases 0.9 % (1) Certain of our hotel and land leases have nominal or contingent rental payments. As such, this results in a lower weighted-average remaining lease term. The maturities of lease liabilities in accordance with Leases (Topic 842) in each of the next five years and thereafter at September 30, 2019 are as follows: Operating leases Finance leases 2019 (remaining) $ 12 $ — 2020 47 3 2021 44 2 2022 42 2 2023 39 2 Thereafter 452 5 Total minimum lease payments $ 636 $ 14 Less: amount representing interest (208 ) (3 ) Present value of minimum lease payments $ 428 $ 11 The future minimum lease payments from our 2018 Form 10-K as filed in accordance with Leases (Topic 840) in each of the next five years and thereafter are as follows: Years ending December 31, Operating leases Capital leases 2019 $ 46 $ 3 2020 42 3 2021 42 2 2022 38 2 2023 35 2 Thereafter 448 5 Total minimum lease payments $ 651 $ 17 Less: amount representing interest (5 ) Present value of minimum lease payments $ 12 Lessor —We lease retail space under operating leases at our owned hotel locations. Rental payments are primarily fixed with certain variable payments based on a contractual percentage of revenues. We recognized rental income within owned and leased hotels revenues on our condensed consolidated statements of income as follows: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Rental income $ 5 $ 7 $ 18 $ 20 The future minimum lease receipts in accordance with Leases (Topic 842) scheduled to be received in each of the next five years and thereafter at September 30, 2019 are as follows: 2019 (remaining) $ 5 2020 16 2021 12 2022 11 2023 8 Thereafter 14 Total minimum lease receipts $ 66 The future minimum lease receipts from our 2018 Form 10-K as filed in accordance with Leases (Topic 840) scheduled to be received in each of the next five years and thereafter are as follows: Years ending December 31, 2019 $ 22 2020 18 2021 16 2022 15 2023 11 Thereafter 48 Total minimum lease receipts $ 130
Leases	LEASES Lessee —We primarily lease land, buildings, office space, spas and fitness centers, and equipment. We determine if an arrangement is an operating or finance lease at inception. For our hotel management agreements, we apply judgment in order to determine whether the contract is accounted for as a lease or management agreement based on the specific facts and circumstances of each agreement. In evaluating whether an agreement constitutes a lease, we review the contractual terms to determine which party obtains both the economic benefits and control of the assets. In arrangements where we control the assets and obtain the economic benefits, we account for the contract as a lease. Certain of our leases include options to extend the lease term by 1 to 99 years . We include lease extension options in our operating ROU assets and lease liabilities when it is reasonably certain that we will exercise the options. The range of extension options included in our operating ROU assets and lease liabilities is approximately 1 to 20 years . Our lease agreements do not contain any significant residual value guarantees or restrictive covenants. As our leases do not provide an implicit borrowing rate, we use our estimated IBR to determine the present value of our lease payments and apply a portfolio approach. We apply judgment in estimating the IBR including factors related to currency risk and our credit risk. We also give consideration to our recent debt issuances as well as publicly available data for instruments with similar characteristics when determining our IBR. Our operating leases may include the following terms: (i) fixed minimum lease payments, (ii) variable lease payments based on a percentage of the hotel's profitability measure, as defined in the lease, (iii) lease payments equal to the greater of a minimum or variable lease payments based on a percentage of the hotel's profitability measure, as defined in the lease, or (iv) lease payments adjusted for changes in an index or market value. Future lease payments that are contingent are not included in the measurement of the operating lease liability or in the future maturities table below. Total lease expense related to short-term leases and finance leases was insignificant for the three and nine months ended September 30, 2019 . A summary of operating lease expense is as follows: Three Months Ended September 30, Nine Months Ended September 30, 2019 2019 Minimum rentals $ 12 $ 37 Contingent rentals 22 78 Total operating lease expense $ 34 $ 115 Supplemental balance sheet information related to finance leases is as follows: September 30, 2019 Property and equipment, net (1) $ 9 Current maturities of long-term debt 2 Long-term debt 9 Total finance lease liabilities $ 11 (1) Finance lease assets are net of $13 million of accumulated amortization. Weighted-average remaining lease terms and discount rates are as follows: September 30, 2019 Weighted-average remaining lease term in years Operating leases (1) 21 Finance leases 7 Weighted-average discount rate Operating leases 3.7 % Finance leases 0.9 % (1) Certain of our hotel and land leases have nominal or contingent rental payments. As such, this results in a lower weighted-average remaining lease term. The maturities of lease liabilities in accordance with Leases (Topic 842) in each of the next five years and thereafter at September 30, 2019 are as follows: Operating leases Finance leases 2019 (remaining) $ 12 $ — 2020 47 3 2021 44 2 2022 42 2 2023 39 2 Thereafter 452 5 Total minimum lease payments $ 636 $ 14 Less: amount representing interest (208 ) (3 ) Present value of minimum lease payments $ 428 $ 11 The future minimum lease payments from our 2018 Form 10-K as filed in accordance with Leases (Topic 840) in each of the next five years and thereafter are as follows: Years ending December 31, Operating leases Capital leases 2019 $ 46 $ 3 2020 42 3 2021 42 2 2022 38 2 2023 35 2 Thereafter 448 5 Total minimum lease payments $ 651 $ 17 Less: amount representing interest (5 ) Present value of minimum lease payments $ 12 Lessor —We lease retail space under operating leases at our owned hotel locations. Rental payments are primarily fixed with certain variable payments based on a contractual percentage of revenues. We recognized rental income within owned and leased hotels revenues on our condensed consolidated statements of income as follows: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Rental income $ 5 $ 7 $ 18 $ 20 The future minimum lease receipts in accordance with Leases (Topic 842) scheduled to be received in each of the next five years and thereafter at September 30, 2019 are as follows: 2019 (remaining) $ 5 2020 16 2021 12 2022 11 2023 8 Thereafter 14 Total minimum lease receipts $ 66 The future minimum lease receipts from our 2018 Form 10-K as filed in accordance with Leases (Topic 840) scheduled to be received in each of the next five years and thereafter are as follows: Years ending December 31, 2019 $ 22 2020 18 2021 16 2022 15 2023 11 Thereafter 48 Total minimum lease receipts $ 130

Intangibles, Net

Intangibles, Net	9 Months Ended
	Sep. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Intangibles, Net	INTANGIBLES, NET September 30, 2019 Weighted- average useful lives in years December 31, 2018 Management and franchise agreement intangibles $ 371 18 $ 390 Lease related intangibles — — 121 Brand and other indefinite-lived intangibles 149 — 180 Advanced booking intangibles 14 6 14 Other definite-lived intangibles 8 6 8 Intangibles 542 713 Less: accumulated amortization (89 ) (85 ) Intangibles, net $ 453 $ 628 Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Amortization expense $ 8 $ 3 $ 18 $ 10 During the three and nine months ended September 30, 2019 , we recognized $9 million and $13 million of impairment charges related to management agreement intangibles, respectively, for contracts that terminated or will terminate in the near-term. The impairment charges were recognized in asset impairments on our condensed consolidated statements of income, primarily on the Americas management and franchising segment.

Other Assets

Other Assets	9 Months Ended
	Sep. 30, 2019
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other Assets	OTHER ASSETS September 30, 2019 December 31, 2018 Marketable securities held to fund rabbi trusts (Note 4) $ 419 $ 367 Management and franchise agreement assets constituting payments to customers (1) 409 396 Marketable securities held to fund the loyalty program (Note 4) 338 303 Long-term investments 111 112 Common shares of Playa N.V. (Note 4) 95 87 Other 104 88 Total other assets $ 1,476 $ 1,353 (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, 2019
Debt Disclosure [Abstract]
Debt	DEBT Long-term debt, net of current maturities, was $1,612 million and $ 1,623 million at September 30, 2019 and December 31, 2018 , respectively. Senior Notes —During the nine 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 the remainder was used 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 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 nine 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 19 ). 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, 2019 , we had $180 million of borrowings and repayments on our revolving credit facility. The weighted-average interest rate on these borrowings was 3.46% at September 30, 2019 . At September 30, 2019 and December 31, 2018 , we had no balance outstanding. At September 30, 2019 , we had $1.5 billion available on our revolving credit facility. Fair Value —We estimated the fair value of debt, excluding finance 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 models is based on the selection of appropriate discount rates. Fluctuations in these assumptions will result in different estimates of fair value. September 30, 2019 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) $ 1,627 $ 1,745 $ — $ 1,685 $ 60 (1) Excludes $11 million of finance lease obligations and $15 million of unamortized discounts and deferred financing fees. December 31, 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 (2) $ 1,638 $ 1,651 $ — $ 1,584 $ 67 (2) Excludes $12 million of capital lease obligations and $16 million of unamortized discounts and deferred financing fees. Interest Rate Locks —At September 30, 2019 , we had outstanding interest rate locks with $ 275 million notional value and mandatory settlement dates of 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. The outstanding derivative instruments are designated as cash flow hedges and deemed highly effective both at inception and at September 30, 2019 . During the three and nine months ended September 30, 2019 , we recognized $13 million and $30 million of pre-tax losses, respectively, and during the three and nine months ended September 30, 2018, we recognized $3 million and $2 million of pre-tax gains, respectively, in unrealized gains (losses) on derivative activity on our condensed consolidated statements of comprehensive income. At September 30, 2019 and December 31, 2018 , we had $ 34 million and $ 4 million of liabilities related to these derivative instruments, respectively, recorded in other long-term liabilities on our condensed consolidated balance sheets. We estimated the fair values of interest rate locks, which are classified as Level Two in the fair value hierarchy, using discounted cash flow models. The primary sensitivity in these models is based on forward and discount curves. During the three months ended September 30, 2018, we settled interest rate locks with $225 million notional value upon issuance of the 2028 Notes.

Other Long-Term Liabilities

Other Long-Term Liabilities	9 Months Ended
	Sep. 30, 2019
Other Liabilities [Abstract]
Other Long-Term Liabilities	OTHER LONG-TERM LIABILITIES September 30, 2019 December 31, 2018 Deferred compensation plans funded by rabbi trusts (Note 4) $ 419 $ 367 Income taxes payable 145 131 Self-insurance liabilities (Note 13) 79 78 Deferred income taxes 47 54 Guarantee liabilities (Note 13) 37 76 Other 119 134 Total other long-term liabilities $ 846 $ 840

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES The effective income tax rates for the three months ended September 30, 2019 and September 30, 2018 were 26.9% and 7.7% , respectively. The effective income tax rates for the nine months ended September 30, 2019 and September 30, 2018 were 25.0% and 21.2% , respectively. Our effective tax rate increased for the three and nine months ended September 30, 2019 , compared to the three and nine months ended September 30, 2018 , primarily due to the low effective tax rate on the HRMC transaction in 2018. We are currently under field exam by the Internal Revenue Service ("IRS") for tax years 2015 through 2017. U.S. tax years 2009 through 2011 are before the U.S. Tax Court concerning the tax treatment of the loyalty program. Additionally, U.S. tax years 2012 through 2014 are pending the outcome of the issue currently in U.S. Tax Court. If the IRS' position to include loyalty program contributions as taxable income to the Company is upheld, it would result in an income tax payment of $188 million (including $44 million of estimated interest, net of federal tax benefit) for all assessed years that would be partially offset by a deferred tax asset. As future tax benefits will be recognized at the reduced U.S. corporate income tax rate, $67 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 liability recorded in connection with this matter.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2019
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, 2019 , we are committed, under certain conditions, to lend or provide certain consideration to, or invest in, various business ventures up to $ 395 million , net of any related letters of credit, including a commitment to purchase land and a hotel under construction in Portland, Oregon from the developer for a remaining purchase price of approximately $140 million upon substantial completion of construction. 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 less than one year 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, 2019 was $252 million , of which €180 million ( $196 million using exchange rates at September 30, 2019 ) was related to the four managed hotels in France. We had $13 million and $47 million of total net performance guarantee liabilities at September 30, 2019 and December 31, 2018 , respectively, which included $4 million and $25 million recorded in other long-term liabilities and $9 million and $22 million in accrued expenses and other current liabilities on our condensed consolidated balance sheets, respectively. The four managed hotels in France Other performance guarantees All performance guarantees 2019 2018 2019 2018 2019 2018 Beginning balance, January 1 $ 36 $ 58 $ 11 $ 13 $ 47 $ 71 Initial guarantee obligation liability — — 1 — 1 — Amortization of initial guarantee obligation liability into income (8 ) (8 ) (1 ) (2 ) (9 ) (10 ) Performance guarantee expense (recovery), net 24 36 — (1 ) 24 35 Net payments during the period (36 ) (50 ) (4 ) (5 ) (40 ) (55 ) Ending balance, June 30 $ 16 $ 36 $ 7 $ 5 $ 23 $ 41 Amortization of initial guarantee obligation liability into income (4 ) (3 ) (1 ) (1 ) (5 ) (4 ) Performance guarantee expense (recovery), net (1 ) 3 2 3 1 6 Net (payments) receipts during the period (3 ) (9 ) (2 ) 2 (5 ) (7 ) Foreign currency exchange, net (1 ) 1 — — (1 ) 1 Ending balance, September 30 $ 7 $ 28 $ 6 $ 9 $ 13 $ 37 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, 2019 and December 31, 2018 , 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 and unconsolidated hospitality ventures 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, 2019 Other long-term liabilities recorded at December 31, 2018 Year of guarantee expiration Hotel properties in India (1) $ 169 $ 169 $ 6 $ 10 2020 Hotel and residential properties in Brazil (2), (3) 97 40 3 3 various, through 2023 Hotel properties in Tennessee (2) 44 20 9 2 various, through 2023 Hotel property in Massachusetts (2), (4) 40 14 7 8 various, through 2022 Hotel properties in California (2) 31 12 3 4 various, through 2021 Hotel property in Oregon (2), (4) 28 7 3 4 various, through 2022 Hotel property in Arizona (2), (3) 25 — — 1 2019 Other (2), (5) 10 5 2 19 2022 Total $ 444 $ 267 $ 33 $ 51 (1) Debt repayment guarantee is denominated in Indian rupees and translated using exchange rates at September 30, 2019 . We have the contractual right to recover amounts funded from an unconsolidated hospitality venture, which is a related party. We expect our maximum exposure to be $85 million , taking into account our partner's 50% ownership interest in the unconsolidated hospitality venture. Under certain events or conditions, we have the right to force the sale of the properties in order to recover amounts funded. (2) 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. (3) 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. (4) In conjunction with the debt repayment guarantees, we are subject to completion guarantees 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. At September 30, 2019 , the maximum potential future payments for the property in Massachusetts and the property in Oregon are $13 million and $12 million , respectively. After consideration of recoverability from third parties, our maximum exposure is insignificant for both the property in Massachusetts and the property in Oregon at September 30, 2019 . (5) At December 31, 2018 , other-long term liabilities included a debt repayment guarantee for a hotel property in Washington State. During the nine months ended September 30, 2019 , the debt was refinanced, and we are no longer a guarantor. As a result, we recognized a $15 million release of our debt repayment guarantee liability in other income (loss), net on our condensed consolidated statements of income for the nine months ended September 30, 2019 (see Note 19 ). At September 30, 2019 , 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 $112 million and $128 million at September 30, 2019 and December 31, 2018 , 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. Reserves for losses in our captive insurance companies to be paid within 12 months are $40 million and $38 million at September 30, 2019 and December 31, 2018 , respectively, and are classified within accrued expenses and other current liabilities on our condensed consolidated balance sheets, while reserves for losses in our captive insurance companies to be paid in future periods are $79 million and $78 million at September 30, 2019 and December 31, 2018 , respectively, and are included in other long-term liabilities on our condensed consolidated balance sheets. Collective Bargaining Agreements —At September 30, 2019 , approximately 22% 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 $46 million at September 30, 2019 and primarily relate to workers' compensation, taxes, licenses, construction liens, and utilities related to our lodging operations. Letters of Credit —Letters of credit outstanding on our behalf at September 30, 2019 were $286 million , which relate to our ongoing operations, hotel properties under development in the U.S., 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 10 ). 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 year ended December 31, 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. At September 30, 2019 , our maximum exposure is not expected to exceed $18 million .

Equity

Equity	9 Months Ended
	Sep. 30, 2019
Equity [Abstract]
Equity	EQUITY Accumulated Other Comprehensive Loss Balance at Current period other comprehensive income (loss) before reclassification Amount reclassified from accumulated other comprehensive loss Balance at September 30, 2019 Foreign currency translation adjustments $ (191 ) $ (27 ) $ — $ (218 ) Unrecognized pension cost (5 ) — — (5 ) Unrealized losses on derivative instruments (16 ) (9 ) — (25 ) Accumulated other comprehensive loss $ (212 ) $ (36 ) $ — $ (248 ) Balance at Current period other comprehensive income (loss) before reclassification Amount reclassified from accumulated other comprehensive loss Balance at Foreign currency translation adjustments $ (191 ) $ (27 ) $ — $ (218 ) Unrecognized pension cost (5 ) — — (5 ) Unrealized losses on derivative instruments (4 ) (21 ) — (25 ) Accumulated other comprehensive loss $ (200 ) $ (48 ) $ — $ (248 ) Balance at Current period other comprehensive income (loss) before reclassification Amount reclassified from accumulated other comprehensive loss (a) Balance at 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 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). Share Repurchase — During 2018 and 2017, our board of directors authorized the repurchase of up to $750 million and $1,250 million , respectively, 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 and 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. During the nine months ended September 30, 2019 , we repurchased 3,829,427 shares of common stock. The shares of common stock were repurchased at a weighted-average price of $73.08 per share for an aggregate purchase price of $ 280 million , excluding related insignificant expenses. The shares repurchased during the nine months ended September 30, 2019 represented approximately 4% of our total shares of common stock outstanding at December 31, 2018 . During the nine months ended September 30, 2018 , we entered into the following accelerated share repurchase ("ASR") program with a third-party financial institution 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 (1) The delivery of shares resulted in a reduction in weighted-average common shares outstanding for basic and diluted earnings per share. 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. The 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 . 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, 2019 (see Note 16). At September 30, 2019 , we had $388 million remaining under the share repurchase authorization. Dividend — The following tables summarize dividends paid to Class A and Class B shareholders of record: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Class A common stock $ 8 $ 7 $ 22 $ 21 Class B common stock 12 10 38 31 Total cash dividends paid $ 20 $ 17 $ 60 $ 52 Date declared Dividend per share amount for Class A and Class B Date of record Date paid February 13, 2019 $ 0.19 February 27, 2019 March 11, 2019 May 17, 2019 $ 0.19 May 29, 2019 June 10, 2019 July 31, 2019 $ 0.19 August 27, 2019 September 9, 2019 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, 2019
Share-based Payment Arrangement, Noncash Expense [Abstract]
Stock-Based Compensation	STOCK-BASED COMPENSATION As part of our Long- Term Incentive Plan ("LTIP"), 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, 2019 2018 2019 2018 SARs $ 1 $ 1 $ 11 $ 10 RSUs 2 2 13 14 PSUs 1 2 4 4 Total $ 4 $ 5 $ 28 $ 28 SARs —During the nine months ended September 30, 2019 , we granted 643,989 SARs to employees with a weighted-average grant date fair value of $17.11 . 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 . RSUs —During the nine months ended September 30, 2019 , we granted 355,774 RSUs to employees with a weighted-average grant date fair value of $72.05 . 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 . PSUs —During the nine months ended September 30, 2019 , we granted 120,720 PSUs to employees with a weighted-average grant date fair value of $77.95 . The performance period applicable to such PSUs is a three year period beginning January 1, 2019 and ending December 31, 2021. 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 . Our total unearned compensation for our stock- based compensation programs at September 30, 2019 was $2 million for SARs, $17 million for RSUs, and $10 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, 2019
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, 2019 and September 30, 2018 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, 2019 and September 30, 2018 . We incurred $5 million of legal fees with this firm during each of the nine months ended September 30, 2019 and September 30, 2018 . At September 30, 2019 and December 31, 2018 , 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 of fees for each of the three months ended September 30, 2019 and September 30, 2018 , respectively. We recognized $15 million of fees for each of the nine months ended September 30, 2019 and September 30, 2018 . In addition, in some cases we provide loans (see Note 5 ) or guarantees (see Note 13 ) to these entities. During the three months ended September 30, 2019 and September 30, 2018 , we recognized $1 million and $2 million of income related to these guarantees, respectively. We recognized income related to these guarantees of $3 million and $5 million during the nine months ended September 30, 2019 and September 30, 2018 , respectively. At September 30, 2019 and December 31, 2018 , we had $ 13 million and $ 17 million of receivables due from these properties, respectively. Our ownership interest in these unconsolidated hospitality ventures varies from 24% to 50% . See Note 4 for further details regarding these investments. Other Services —The brother of our Executive Chairman is affiliated with a limited partnership which has ownership interests in hotels from which we recorded management and franchise fees of $2 million and $4 million during the three and nine months ended September 30, 2019, respectively. At both September 30, 2019 and December 31, 2018, we had insignificant receivables due from these properties. 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 were converted on a share-for-share basis into shares of our Class A common stock, $0.01 par value per share. The shares of Class B common stock that were converted into shares of Class A common stock were retired, thereby reducing the shares of Class B common stock authorized and outstanding. Class B Share Repurchase —During the three and nine months ended September 30, 2019, we repurchased 677,384 shares of Class B common stock for a weighted-average price of $74.21 per share, for an aggregate purchase price of approximately $50 million . The shares repurchased represented approximately 1% of our total shares of common stock outstanding prior to the 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%

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2019
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 cards 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 as well as revenues from residential management operations. 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; amortization of management and franchise agreement assets constituting payments to customers ("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. The table below shows summarized consolidated financial information by segment. Included within corporate and other are the results of Miraval and Exhale, Hyatt Residence Club license fees, results related to our co- branded credit cards, and unallocated corporate expenses. Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Owned and leased hotels Owned and leased hotels revenues $ 425 $ 443 $ 1,364 $ 1,428 Intersegment revenues (a) 11 7 27 26 Adjusted EBITDA 76 91 291 324 Depreciation and amortization 62 65 185 197 Americas management and franchising Management, franchise, and other fees revenues 106 95 326 301 Contra revenue (4 ) (4 ) (11 ) (10 ) Other revenues 16 — 71 — Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties 565 447 1,688 1,328 Intersegment revenues (a) 14 16 47 52 Adjusted EBITDA 92 83 285 266 Depreciation and amortization 6 2 18 6 ASPAC management and franchising Management, franchise, and other fees revenues 32 30 96 90 Contra revenue — — (1 ) (1 ) Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties 30 24 80 67 Intersegment revenues (a) 1 1 1 1 Adjusted EBITDA 19 19 59 55 Depreciation and amortization 1 1 3 1 EAME/SW Asia management and franchising Management, franchise, and other fees revenues 21 21 58 58 Contra revenue (1 ) (1 ) (4 ) (4 ) Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties 20 16 54 49 Intersegment revenues (a) 3 3 7 8 Adjusted EBITDA 12 12 33 33 Depreciation and amortization 1 — 1 — Corporate and other Revenues 32 26 101 89 Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties 2 2 4 3 Intersegment revenues (a) — (2 ) (1 ) (5 ) Adjusted EBITDA (35 ) (29 ) (107 ) (85 ) Depreciation and amortization 15 13 41 39 Eliminations Revenues (a) (29 ) (25 ) (81 ) (82 ) Adjusted EBITDA (1 ) (1 ) 2 2 TOTAL Revenues $ 1,215 $ 1,074 $ 3,745 $ 3,316 Adjusted EBITDA 163 175 563 595 Depreciation and amortization 85 81 248 243 (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, 2019 2018 2019 2018 Net income attributable to Hyatt Hotels Corporation $ 296 $ 237 $ 445 $ 725 Interest expense 19 19 58 57 Provision for income taxes 109 19 148 194 Depreciation and amortization 85 81 248 243 EBITDA 509 356 899 1,219 Contra revenue 5 5 16 15 Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties (617 ) (489 ) (1,826 ) (1,447 ) Costs incurred on behalf of managed and franchised properties 633 487 1,871 1,447 Equity losses from unconsolidated hospitality ventures 5 6 2 17 Stock-based compensation expense (Note 15) 4 5 28 28 Gains on sales of real estate (Note 6) (373 ) (239 ) (374 ) (769 ) Asset impairments 9 21 13 21 Other (income) loss, net (Note 19) (25 ) 9 (104 ) 22 Pro rata share of unconsolidated hospitality ventures Adjusted EBITDA 13 14 38 42 Adjusted EBITDA $ 163 $ 175 $ 563 $ 595

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2019
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, 2019 2018 2019 2018 Numerator: Net income $ 296 $ 237 $ 445 $ 725 Net income and accretion attributable to noncontrolling interests — — — — Net income attributable to Hyatt Hotels Corporation $ 296 $ 237 $ 445 $ 725 Denominator: Basic weighted-average shares outstanding 104,349,157 111,356,759 105,226,587 114,829,210 Share-based compensation 1,569,736 1,867,226 1,553,693 1,954,863 Diluted weighted-average shares outstanding 105,918,893 113,223,985 106,780,280 116,784,073 Basic Earnings Per Share: Net income $ 2.84 $ 2.12 $ 4.23 $ 6.31 Net income and accretion attributable to noncontrolling interests — — — — Net income attributable to Hyatt Hotels Corporation $ 2.84 $ 2.12 $ 4.23 $ 6.31 Diluted Earnings Per Share: Net income $ 2.80 $ 2.09 $ 4.17 $ 6.21 Net income and accretion attributable to noncontrolling interests — — — — Net income attributable to Hyatt Hotels Corporation $ 2.80 $ 2.09 $ 4.17 $ 6.21 The computations of diluted net income per share for the three and nine months ended September 30, 2019 and September 30, 2018 do not include the following shares of Class A common stock assumed to be issued as stock- settled SARs because they are anti- dilutive. Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 SARs 14,800 — 14,400 —

Other Income (Loss), Net

Other Income (Loss), Net	9 Months Ended
	Sep. 30, 2019
Other Income and Expenses [Abstract]
Other Income (Loss), Net	OTHER INCOME (LOSS), NET Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Depreciation recovery $ 7 $ 5 $ 19 $ 16 Interest income (Note 4) 6 7 18 19 Performance guarantee liability amortization (Note 13) 5 4 14 14 Unrealized gains (losses) (Note 4) 3 (15 ) 23 (21 ) Release of contingent consideration liability (Note 6) 2 — 29 — Release and amortization of debt repayment guarantee liability (Note 13) 1 2 18 8 Impairment of an equity security without a readily determinable fair value (Note 4) — — — (22 ) Loss on extinguishment of debt (Note 10) — (7 ) — (7 ) Performance guarantee expense, net (Note 13) (1 ) (6 ) (25 ) (41 ) Other, net 2 1 8 12 Other income (loss), net $ 25 $ (9 ) $ 104 $ (22 )

Recently Issued Accounting Pr_2

Recently Issued Accounting Pronouncements (Policies)	9 Months Ended
	Sep. 30, 2019
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
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	Leases —In February 2016, the Financial Accounting Standards Board ("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 ("ROU") asset and lease liability with certain practical expedients available. ROU assets represent our right to use an underlying asset for the lease term, and lease liabilities represent our obligation to make fixed minimum lease payments arising from the lease. ROU assets and lease liabilities are recognized at the commencement date based on the present value of fixed minimum lease payments over the lease term, including optional periods for which it is reasonably certain the renewal option will be exercised. 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. We adopted ASU 2016-02 utilizing the optional transition approach under ASU 2018-11 and applied the package of practical expedients beginning January 1, 2019. As a result of utilizing the optional transition method, our reporting for periods prior to January 1, 2019 continue to be reported in accordance with Leases (Topic 840) . We elected the following additional practical expedients: (i) for office space, land, and hotel leases, we do not separate the lease and nonlease components, which primarily relate to common area maintenance and utilities, (ii) we combine lease and nonlease components for those leases where we are the lessor, and (iii) we exclude all leases that are twelve months or less from the ROU assets and lease liabilities. For leases in place upon adoption, we used the remaining lease term as of January 1, 2019 in determining the incremental borrowing rate ("IBR"). For the initial measurement of the lease liabilities for leases commencing on or after January 1, 2019, the IBR at the lease commencement date was applied. For operating leases, the adoption of ASU 2016-02 resulted in the initial recognition of ROU assets of $512 million and related lease liabilities of $452 million on our condensed consolidated balance sheet at January 1, 2019. Upon adoption, we reclassified $103 million of intangibles, net related to below market leases and $49 million of deferred rent and other lease liabilities to the operating ROU assets. The net tax impact upon adoption was insignificant. The adoption of ASU 2016-02 did not significantly impact our accounting for finance leases or for those leases where we are the lessor. Additionally, the adoption of ASU 2016-02 did not materially affect our condensed consolidated statements of income or our condensed consolidated statements of cash flows. The impact on our condensed consolidated balance sheet upon adoption of ASU 2016-02 was as follows: December 31, 2018 January 1, 2019 Effect of the adoption of ASU 2016-02 As adjusted ASSETS Prepaids and other assets $ 149 $ (2 ) $ 147 Intangibles, net 628 (103 ) 525 Other assets 1,353 (7 ) 1,346 Operating lease right-of-use assets — 512 512 TOTAL ASSETS $ 7,643 $ 400 $ 8,043 LIABILITIES AND EQUITY Accounts payable $ 151 $ (1 ) $ 150 Accrued expenses and other current liabilities 361 (2 ) 359 Current operating lease liabilities — 34 34 Long-term operating lease liabilities — 418 418 Other long-term liabilities 840 (49 ) 791 Total liabilities 3,966 400 4,366 Total equity 3,677 — 3,677 TOTAL LIABILITIES AND EQUITY $ 7,643 $ 400 $ 8,043 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 early adopted ASU 2018-15 on January 1, 2019 on a prospective basis which did not materially impact our condensed consolidated financial statements. Future Adoption of Accounting Standards 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 allowances for credit losses 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 available-for-sale ("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. While we continue to evaluate the impact of adopting ASU 2016-13, we do not expect a material impact upon adoption related to receivables at our owned and leased properties, AFS debt securities, and debt repayment guarantees. We are continuing to evaluate other potential impacts on our condensed consolidated financial statements, including the impact on our remaining receivables, held-to-maturity ("HTM") debt securities, and financing receivables.
Revenue Recognition	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 cards 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 Allocated to Remaining Performance Obligations
Lessee, Leases	We primarily lease land, buildings, office space, spas and fitness centers, and equipment. We determine if an arrangement is an operating or finance lease at inception. For our hotel management agreements, we apply judgment in order to determine whether the contract is accounted for as a lease or management agreement based on the specific facts and circumstances of each agreement. In evaluating whether an agreement constitutes a lease, we review the contractual terms to determine which party obtains both the economic benefits and control of the assets. In arrangements where we control the assets and obtain the economic benefits, we account for the contract as a lease. Certain of our leases include options to extend the lease term by 1 to 99 years . We include lease extension options in our operating ROU assets and lease liabilities when it is reasonably certain that we will exercise the options. The range of extension options included in our operating ROU assets and lease liabilities is approximately 1 to 20 years . Our lease agreements do not contain any significant residual value guarantees or restrictive covenants. As our leases do not provide an implicit borrowing rate, we use our estimated IBR to determine the present value of our lease payments and apply a portfolio approach. We apply judgment in estimating the IBR including factors related to currency risk and our credit risk. We also give consideration to our recent debt issuances as well as publicly available data for instruments with similar characteristics when determining our IBR.
Lessor, Leases	We lease retail space under operating leases at our owned hotel locations. Rental payments are primarily fixed with certain variable payments based on a contractual percentage of revenues.
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 cards 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 as well as revenues from residential management operations. 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; amortization of management and franchise agreement assets constituting payments to customers ("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 (Tables)	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Schedule of New Accounting Pronouncements and Changes in Accounting Principles	The impact on our condensed consolidated balance sheet upon adoption of ASU 2016-02 was as follows: December 31, 2018 January 1, 2019 Effect of the adoption of ASU 2016-02 As adjusted ASSETS Prepaids and other assets $ 149 $ (2 ) $ 147 Intangibles, net 628 (103 ) 525 Other assets 1,353 (7 ) 1,346 Operating lease right-of-use assets — 512 512 TOTAL ASSETS $ 7,643 $ 400 $ 8,043 LIABILITIES AND EQUITY Accounts payable $ 151 $ (1 ) $ 150 Accrued expenses and other current liabilities 361 (2 ) 359 Current operating lease liabilities — 34 34 Long-term operating lease liabilities — 418 418 Other long-term liabilities 840 (49 ) 791 Total liabilities 3,966 400 4,366 Total equity 3,677 — 3,677 TOTAL LIABILITIES AND EQUITY $ 7,643 $ 400 $ 8,043

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	9 Months Ended
	Sep. 30, 2019
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, 2019 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 $ 259 $ — $ — $ — $ 4 $ (11 ) $ 252 Food and beverage 131 — — — 3 — 134 Other 35 — — — 9 — 44 Owned and leased hotels 425 — — — 16 (11 ) 430 Base management fees — 55 11 10 — (12 ) 64 Incentive management fees — 13 17 9 — (6 ) 33 Franchise fees — 36 1 — — — 37 Other fees — 2 3 2 1 — 8 License fees — — — — 6 — 6 Management, franchise, and other fees — 106 32 21 7 (18 ) 148 Amortization of management and franchise agreement assets constituting payments to customers — (4 ) — (1 ) — — (5 ) Net management, franchise, and other fees — 102 32 20 7 (18 ) 143 Other revenues — 16 — — 9 — 25 Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties — 565 30 20 2 — 617 Total $ 425 $ 683 $ 62 $ 40 $ 34 $ (29 ) $ 1,215 Nine Months Ended September 30, 2019 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 $ 804 $ — $ — $ — $ 17 $ (27 ) $ 794 Food and beverage 452 — — — 9 — 461 Other 108 — — — 27 — 135 Owned and leased hotels 1,364 — — — 53 (27 ) 1,390 Base management fees — 173 33 27 — (38 ) 195 Incentive management fees — 46 51 26 — (17 ) 106 Franchise fees — 104 3 — — — 107 Other fees — 3 9 5 4 — 21 License fees — — — — 18 — 18 Management, franchise, and other fees — 326 96 58 22 (55 ) 447 Amortization of management and franchise agreement assets constituting payments to customers — (11 ) (1 ) (4 ) — — (16 ) Net management, franchise, and other fees — 315 95 54 22 (55 ) 431 Other revenues — 71 — — 26 1 98 Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties — 1,688 80 54 4 — 1,826 Total $ 1,364 $ 2,074 $ 175 $ 108 $ 105 $ (81 ) $ 3,745 Three Months Ended September 30, 2018 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 Amortization of management and franchise agreement assets constituting payments to customers — (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 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 Amortization of management and franchise agreement assets constituting payments to customers — (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
Summary of Contract Liability	Contract liabilities are comprised of the following: September 30, 2019 December 31, 2018 Deferred revenue related to the loyalty program $ 657 $ 596 Advanced deposits 77 81 Initial fees received from franchise owners 39 35 Deferred revenue related to system-wide services 11 7 Other deferred revenue 91 111 Total contract liabilities $ 875 $ 830 The following table summarizes the activity in our contract liabilities: 2019 2018 Beginning balance, January 1 $ 830 $ 772 Cash received and other 490 433 Revenue recognized (459 ) (441 ) Ending balance, June 30 $ 861 $ 764 Cash received and other 265 223 Revenue recognized (251 ) (222 ) Ending balance, September 30 $ 875 $ 765

Debt and Equity Securities (Tab

Debt and Equity Securities (Tables)	9 Months Ended
	Sep. 30, 2019
Investments, Debt and Equity Securities [Abstract]
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, 2019 2018 2019 2018 Total revenues $ 130 $ 135 $ 371 $ 399 Gross operating profit 51 53 139 141 Income (loss) from continuing operations 9 (12 ) (2 ) (15 ) Net income (loss) 9 (12 ) (2 ) (15 )
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, 2019 December 31, 2018 Loyalty program (Note 9) $ 453 $ 397 Deferred compensation plans held in rabbi trusts (Note 9 and Note 11) 419 367 Captive insurance companies 136 133 Total marketable securities held to fund operating programs $ 1,008 $ 897 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 (205 ) (174 ) Marketable securities held to fund operating programs included in other assets $ 803 $ 723
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, 2019 2018 2019 2018 Loyalty program (Note 19) $ 5 $ 1 $ 24 $ (2 ) Net realized and unrealized gains (losses) 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, 2019 2018 2019 2018 Unrealized gains (losses) $ (2 ) $ 5 $ 35 $ 7 Realized gains 2 5 6 12 Net gains and interest income from marketable securities held to fund rabbi trusts $ — $ 10 $ 41 $ 19
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, 2019 December 31, 2018 Interest-bearing money market funds $ 202 $ 14 Common shares of Playa N.V. (Note 9) 95 87 Time deposits 37 100 Total marketable securities held for investment purposes $ 334 $ 201 Less: current portion of marketable securities held for investment purposes included in cash and cash equivalents and short-term investments (239 ) (114 ) Marketable securities held for investment purposes included in other assets $ 95 $ 87
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, 2019 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 $ 308 $ 308 $ — $ — $ — Mutual funds 419 — — — 419 Common shares 95 — — — 95 Level Two - Significant Other Observable Inputs Time deposits 49 — 41 — 8 U.S. government obligations 195 — — 34 161 U.S. government agencies 58 — 2 7 49 Corporate debt securities 155 — 20 21 114 Mortgage-backed securities 23 — — 4 19 Asset-backed securities 38 — — 7 31 Municipal and provincial notes and bonds 2 — — — 2 Total $ 1,342 $ 308 $ 63 $ 73 $ 898 December 31, 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 367 — — — 367 Common shares 87 — — — 87 Level Two - Significant Other Observable Inputs Time deposits 113 — 104 — 9 U.S. government obligations 169 — — 37 132 U.S. government agencies 52 — 2 7 43 Corporate debt securities 151 — 10 25 116 Mortgage-backed securities 23 — — 5 18 Asset-backed securities 46 — — 10 36 Municipal and provincial notes and bonds 2 — — — 2 Total $ 1,098 $ 88 $ 116 $ 84 $ 810

Financing Receivables (Tables)

Financing Receivables (Tables)	9 Months Ended
	Sep. 30, 2019
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
Financing Receivables	September 30, 2019 December 31, 2018 Unsecured financing to hotel owners $ 119 $ 159 Less: current portion of financing receivables, included in receivables, net — (45 ) Less: allowance for losses (100 ) (101 ) Total long-term financing receivables, net of allowances $ 19 $ 13
Allowance for Losses and Impairments	The following table summarizes the activity in our unsecured financing receivables allowance: 2019 2018 Allowance at January 1 $ 101 $ 108 Provisions 3 3 Other adjustments — (2 ) Write-offs (4 ) — Allowance at June 30 $ 100 $ 109 Provisions 1 2 Other adjustments (1 ) — Write-offs — (12 ) Allowance at September 30 $ 100 $ 99
Credit Monitoring	Our unsecured financing receivables were as follows: September 30, 2019 Gross loan balance (principal and interest) Related allowance Net financing receivables Gross receivables on non-accrual status Loans $ 17 $ (1 ) $ 16 $ — Impaired loans (1) 44 (44 ) — 44 Total loans 61 (45 ) 16 44 Other financing arrangements 58 (55 ) 3 58 Total unsecured financing receivables $ 119 $ (100 ) $ 19 $ 102 (1) The unpaid principal balance was $34 million and the average recorded loan balance was $47 million at September 30, 2019 . December 31, 2018 Gross loan balance (principal and interest) Related allowance Net financing receivables Gross receivables on non-accrual status Loans $ 58 $ — $ 58 $ — Impaired loans (2) 50 (50 ) — 50 Total loans 108 (50 ) 58 50 Other financing arrangements 51 (51 ) — 51 Total unsecured financing receivables $ 159 $ (101 ) $ 58 $ 101 (2) The unpaid principal balance was $36 million and the average recorded loan balance was $54 million at December 31, 2018 .

Acquisitions and Dispositions (

Acquisitions and Dispositions (Tables)	9 Months Ended
	Sep. 30, 2019
Business Combinations [Abstract]
Schedule of Identifiable Net Assets Acquired	Net assets acquired were determined as follows: Cash paid, net of cash acquired $ 415 Cash acquired 37 Contingent consideration liability 57 Net assets acquired at December 31, 2018 $ 509 Post-acquisition working capital adjustments (2 ) Net assets acquired at September 30, 2019 $ 507 The following table summarizes the preliminary fair value of the identifiable net assets acquired at September 30, 2019 : Cash $ 32 Receivables 20 Other current assets 2 Equity method investment 2 Property and equipment 2 Indefinite-lived intangibles (1) 96 Management agreement intangibles (2), (5) 209 Goodwill (3) 194 Other assets (4) 25 Total assets $ 582 Advanced deposits $ 20 Other current liabilities 22 Other long-term liabilities (4) 33 Total liabilities 75 Total net assets acquired $ 507 (1) Includes intangibles attributable to the Destination, Alila, and Thompson brands. (2) Amortized over useful lives of 1 to 19 years , with a weighted-average useful life of approximately 12 years . (3) The goodwill, of which $152 million is tax deductible, is attributable to the growth opportunities Hyatt expects to realize by expanding into new markets and enhancing guest experiences through a distinctive collection of lifestyle brands and recorded in the Americas management and franchising segment. (4) Includes $13 million of prior year tax liabilities relating to certain foreign filing positions, including $4 million of interest and penalties. We recorded an offsetting indemnification asset which we expect to collect under contractual arrangements. (5) See Note 8 for impairment discussion.

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Schedule of Rent Expense and Weighted Average Remaining Lease Terms and Discount Rates	Total lease expense related to short-term leases and finance leases was insignificant for the three and nine months ended September 30, 2019 . A summary of operating lease expense is as follows: Three Months Ended September 30, Nine Months Ended September 30, 2019 2019 Minimum rentals $ 12 $ 37 Contingent rentals 22 78 Total operating lease expense $ 34 $ 115 Weighted-average remaining lease terms and discount rates are as follows: September 30, 2019 Weighted-average remaining lease term in years Operating leases (1) 21 Finance leases 7 Weighted-average discount rate Operating leases 3.7 % Finance leases 0.9 % (1) Certain of our hotel and land leases have nominal or contingent rental payments. As such, this results in a lower weighted-average remaining lease term.
Supplemental Balance Sheet Information	Supplemental balance sheet information related to finance leases is as follows: September 30, 2019 Property and equipment, net (1) $ 9 Current maturities of long-term debt 2 Long-term debt 9 Total finance lease liabilities $ 11 (1) Finance lease assets are net of $13 million of accumulated amortization.
Maturities of Finance Lease Liabilities in Accordance with ASC 842	The maturities of lease liabilities in accordance with Leases (Topic 842) in each of the next five years and thereafter at September 30, 2019 are as follows: Operating leases Finance leases 2019 (remaining) $ 12 $ — 2020 47 3 2021 44 2 2022 42 2 2023 39 2 Thereafter 452 5 Total minimum lease payments $ 636 $ 14 Less: amount representing interest (208 ) (3 ) Present value of minimum lease payments $ 428 $ 11
Maturities of Operating Lease Liabilities in Accordance with ASC 842	The maturities of lease liabilities in accordance with Leases (Topic 842) in each of the next five years and thereafter at September 30, 2019 are as follows: Operating leases Finance leases 2019 (remaining) $ 12 $ — 2020 47 3 2021 44 2 2022 42 2 2023 39 2 Thereafter 452 5 Total minimum lease payments $ 636 $ 14 Less: amount representing interest (208 ) (3 ) Present value of minimum lease payments $ 428 $ 11
Maturities of Lease Liabilities in Accordance with ASC 840	The future minimum lease payments from our 2018 Form 10-K as filed in accordance with Leases (Topic 840) in each of the next five years and thereafter are as follows: Years ending December 31, Operating leases Capital leases 2019 $ 46 $ 3 2020 42 3 2021 42 2 2022 38 2 2023 35 2 Thereafter 448 5 Total minimum lease payments $ 651 $ 17 Less: amount representing interest (5 ) Present value of minimum lease payments $ 12
Operating Lease, Lease Income	We recognized rental income within owned and leased hotels revenues on our condensed consolidated statements of income as follows: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Rental income $ 5 $ 7 $ 18 $ 20
Future Minimum Lease Receipts in Accordance with ASC 842	The future minimum lease receipts in accordance with Leases (Topic 842) scheduled to be received in each of the next five years and thereafter at September 30, 2019 are as follows: 2019 (remaining) $ 5 2020 16 2021 12 2022 11 2023 8 Thereafter 14 Total minimum lease receipts $ 66
Future Minimum Lease Receipts in Accordance with ASC 840	The future minimum lease receipts from our 2018 Form 10-K as filed in accordance with Leases (Topic 840) scheduled to be received in each of the next five years and thereafter are as follows: Years ending December 31, 2019 $ 22 2020 18 2021 16 2022 15 2023 11 Thereafter 48 Total minimum lease receipts $ 130

Intangibles, Net (Tables)

Intangibles, Net (Tables)	9 Months Ended
	Sep. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite-Lived Intangible Assets	September 30, 2019 Weighted- average useful lives in years December 31, 2018 Management and franchise agreement intangibles $ 371 18 $ 390 Lease related intangibles — — 121 Brand and other indefinite-lived intangibles 149 — 180 Advanced booking intangibles 14 6 14 Other definite-lived intangibles 8 6 8 Intangibles 542 713 Less: accumulated amortization (89 ) (85 ) Intangibles, net $ 453 $ 628 Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Amortization expense $ 8 $ 3 $ 18 $ 10
Schedule of Indefinite-Lived Intangible Assets	September 30, 2019 Weighted- average useful lives in years December 31, 2018 Management and franchise agreement intangibles $ 371 18 $ 390 Lease related intangibles — — 121 Brand and other indefinite-lived intangibles 149 — 180 Advanced booking intangibles 14 6 14 Other definite-lived intangibles 8 6 8 Intangibles 542 713 Less: accumulated amortization (89 ) (85 ) Intangibles, net $ 453 $ 628 Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Amortization expense $ 8 $ 3 $ 18 $ 10
Schedule of Intangible Assets Amortization Expense	Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Amortization expense $ 8 $ 3 $ 18 $ 10

Other Assets (Tables)

Other Assets (Tables)	9 Months Ended
	Sep. 30, 2019
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Other Assets	September 30, 2019 December 31, 2018 Marketable securities held to fund rabbi trusts (Note 4) $ 419 $ 367 Management and franchise agreement assets constituting payments to customers (1) 409 396 Marketable securities held to fund the loyalty program (Note 4) 338 303 Long-term investments 111 112 Common shares of Playa N.V. (Note 4) 95 87 Other 104 88 Total other assets $ 1,476 $ 1,353 (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, 2019
Debt Disclosure [Abstract]
Fair Value, by Balance Sheet Grouping	September 30, 2019 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) $ 1,627 $ 1,745 $ — $ 1,685 $ 60 (1) Excludes $11 million of finance lease obligations and $15 million of unamortized discounts and deferred financing fees. December 31, 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 (2) $ 1,638 $ 1,651 $ — $ 1,584 $ 67 (2) Excludes $12 million of capital lease obligations and $16 million of unamortized discounts and deferred financing fees.

Other Long-Term Liabilities (Ta

Other Long-Term Liabilities (Tables)	9 Months Ended
	Sep. 30, 2019
Other Liabilities [Abstract]
Other Long-term Liabilities	September 30, 2019 December 31, 2018 Deferred compensation plans funded by rabbi trusts (Note 4) $ 419 $ 367 Income taxes payable 145 131 Self-insurance liabilities (Note 13) 79 78 Deferred income taxes 47 54 Guarantee liabilities (Note 13) 37 76 Other 119 134 Total other long-term liabilities $ 846 $ 840

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Schedule of Guarantor Obligations	The four managed hotels in France Other performance guarantees All performance guarantees 2019 2018 2019 2018 2019 2018 Beginning balance, January 1 $ 36 $ 58 $ 11 $ 13 $ 47 $ 71 Initial guarantee obligation liability — — 1 — 1 — Amortization of initial guarantee obligation liability into income (8 ) (8 ) (1 ) (2 ) (9 ) (10 ) Performance guarantee expense (recovery), net 24 36 — (1 ) 24 35 Net payments during the period (36 ) (50 ) (4 ) (5 ) (40 ) (55 ) Ending balance, June 30 $ 16 $ 36 $ 7 $ 5 $ 23 $ 41 Amortization of initial guarantee obligation liability into income (4 ) (3 ) (1 ) (1 ) (5 ) (4 ) Performance guarantee expense (recovery), net (1 ) 3 2 3 1 6 Net (payments) receipts during the period (3 ) (9 ) (2 ) 2 (5 ) (7 ) Foreign currency exchange, net (1 ) 1 — — (1 ) 1 Ending balance, September 30 $ 7 $ 28 $ 6 $ 9 $ 13 $ 37
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, 2019 Other long-term liabilities recorded at December 31, 2018 Year of guarantee expiration Hotel properties in India (1) $ 169 $ 169 $ 6 $ 10 2020 Hotel and residential properties in Brazil (2), (3) 97 40 3 3 various, through 2023 Hotel properties in Tennessee (2) 44 20 9 2 various, through 2023 Hotel property in Massachusetts (2), (4) 40 14 7 8 various, through 2022 Hotel properties in California (2) 31 12 3 4 various, through 2021 Hotel property in Oregon (2), (4) 28 7 3 4 various, through 2022 Hotel property in Arizona (2), (3) 25 — — 1 2019 Other (2), (5) 10 5 2 19 2022 Total $ 444 $ 267 $ 33 $ 51 (1) Debt repayment guarantee is denominated in Indian rupees and translated using exchange rates at September 30, 2019 . We have the contractual right to recover amounts funded from an unconsolidated hospitality venture, which is a related party. We expect our maximum exposure to be $85 million , taking into account our partner's 50% ownership interest in the unconsolidated hospitality venture. Under certain events or conditions, we have the right to force the sale of the properties in order to recover amounts funded. (2) 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. (3) 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. (4) In conjunction with the debt repayment guarantees, we are subject to completion guarantees 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. At September 30, 2019 , the maximum potential future payments for the property in Massachusetts and the property in Oregon are $13 million and $12 million , respectively. After consideration of recoverability from third parties, our maximum exposure is insignificant for both the property in Massachusetts and the property in Oregon at September 30, 2019 . (5) At December 31, 2018 , other-long term liabilities included a debt repayment guarantee for a hotel property in Washington State. During the nine months ended September 30, 2019 , the debt was refinanced, and we are no longer a guarantor. As a result, we recognized a $15 million release of our debt repayment guarantee liability in other income (loss), net on our condensed consolidated statements of income for the nine months ended September 30, 2019 (see Note 19 ).

Equity (Tables)

Equity (Tables)	9 Months Ended
	Sep. 30, 2019
Equity [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss Balance at Current period other comprehensive income (loss) before reclassification Amount reclassified from accumulated other comprehensive loss Balance at September 30, 2019 Foreign currency translation adjustments $ (191 ) $ (27 ) $ — $ (218 ) Unrecognized pension cost (5 ) — — (5 ) Unrealized losses on derivative instruments (16 ) (9 ) — (25 ) Accumulated other comprehensive loss $ (212 ) $ (36 ) $ — $ (248 ) Balance at Current period other comprehensive income (loss) before reclassification Amount reclassified from accumulated other comprehensive loss Balance at Foreign currency translation adjustments $ (191 ) $ (27 ) $ — $ (218 ) Unrecognized pension cost (5 ) — — (5 ) Unrealized losses on derivative instruments (4 ) (21 ) — (25 ) Accumulated other comprehensive loss $ (200 ) $ (48 ) $ — $ (248 ) Balance at Current period other comprehensive income (loss) before reclassification Amount reclassified from accumulated other comprehensive loss (a) Balance at 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 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).
Stockholders' Equity and Noncontrolling Interests	During the nine months ended September 30, 2018 , we entered into the following accelerated share repurchase ("ASR") program with a third-party financial institution 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 (1) The delivery of shares resulted in a reduction in weighted-average common shares outstanding for basic and diluted earnings per share.
Dividends Declared and Paid	The following tables summarize dividends paid to Class A and Class B shareholders of record: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Class A common stock $ 8 $ 7 $ 22 $ 21 Class B common stock 12 10 38 31 Total cash dividends paid $ 20 $ 17 $ 60 $ 52 Date declared Dividend per share amount for Class A and Class B Date of record Date paid February 13, 2019 $ 0.19 February 27, 2019 March 11, 2019 May 17, 2019 $ 0.19 May 29, 2019 June 10, 2019 July 31, 2019 $ 0.19 August 27, 2019 September 9, 2019 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, 2019
Share-based Payment Arrangement, Noncash Expense [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, 2019 2018 2019 2018 SARs $ 1 $ 1 $ 11 $ 10 RSUs 2 2 13 14 PSUs 1 2 4 4 Total $ 4 $ 5 $ 28 $ 28

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2019
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 and Exhale, Hyatt Residence Club license fees, results related to our co- branded credit cards, and unallocated corporate expenses. Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Owned and leased hotels Owned and leased hotels revenues $ 425 $ 443 $ 1,364 $ 1,428 Intersegment revenues (a) 11 7 27 26 Adjusted EBITDA 76 91 291 324 Depreciation and amortization 62 65 185 197 Americas management and franchising Management, franchise, and other fees revenues 106 95 326 301 Contra revenue (4 ) (4 ) (11 ) (10 ) Other revenues 16 — 71 — Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties 565 447 1,688 1,328 Intersegment revenues (a) 14 16 47 52 Adjusted EBITDA 92 83 285 266 Depreciation and amortization 6 2 18 6 ASPAC management and franchising Management, franchise, and other fees revenues 32 30 96 90 Contra revenue — — (1 ) (1 ) Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties 30 24 80 67 Intersegment revenues (a) 1 1 1 1 Adjusted EBITDA 19 19 59 55 Depreciation and amortization 1 1 3 1 EAME/SW Asia management and franchising Management, franchise, and other fees revenues 21 21 58 58 Contra revenue (1 ) (1 ) (4 ) (4 ) Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties 20 16 54 49 Intersegment revenues (a) 3 3 7 8 Adjusted EBITDA 12 12 33 33 Depreciation and amortization 1 — 1 — Corporate and other Revenues 32 26 101 89 Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties 2 2 4 3 Intersegment revenues (a) — (2 ) (1 ) (5 ) Adjusted EBITDA (35 ) (29 ) (107 ) (85 ) Depreciation and amortization 15 13 41 39 Eliminations Revenues (a) (29 ) (25 ) (81 ) (82 ) Adjusted EBITDA (1 ) (1 ) 2 2 TOTAL Revenues $ 1,215 $ 1,074 $ 3,745 $ 3,316 Adjusted EBITDA 163 175 563 595 Depreciation and amortization 85 81 248 243 (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, 2019 2018 2019 2018 Net income attributable to Hyatt Hotels Corporation $ 296 $ 237 $ 445 $ 725 Interest expense 19 19 58 57 Provision for income taxes 109 19 148 194 Depreciation and amortization 85 81 248 243 EBITDA 509 356 899 1,219 Contra revenue 5 5 16 15 Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties (617 ) (489 ) (1,826 ) (1,447 ) Costs incurred on behalf of managed and franchised properties 633 487 1,871 1,447 Equity losses from unconsolidated hospitality ventures 5 6 2 17 Stock-based compensation expense (Note 15) 4 5 28 28 Gains on sales of real estate (Note 6) (373 ) (239 ) (374 ) (769 ) Asset impairments 9 21 13 21 Other (income) loss, net (Note 19) (25 ) 9 (104 ) 22 Pro rata share of unconsolidated hospitality ventures Adjusted EBITDA 13 14 38 42 Adjusted EBITDA $ 163 $ 175 $ 563 $ 595

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2019
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, 2019 2018 2019 2018 Numerator: Net income $ 296 $ 237 $ 445 $ 725 Net income and accretion attributable to noncontrolling interests — — — — Net income attributable to Hyatt Hotels Corporation $ 296 $ 237 $ 445 $ 725 Denominator: Basic weighted-average shares outstanding 104,349,157 111,356,759 105,226,587 114,829,210 Share-based compensation 1,569,736 1,867,226 1,553,693 1,954,863 Diluted weighted-average shares outstanding 105,918,893 113,223,985 106,780,280 116,784,073 Basic Earnings Per Share: Net income $ 2.84 $ 2.12 $ 4.23 $ 6.31 Net income and accretion attributable to noncontrolling interests — — — — Net income attributable to Hyatt Hotels Corporation $ 2.84 $ 2.12 $ 4.23 $ 6.31 Diluted Earnings Per Share: Net income $ 2.80 $ 2.09 $ 4.17 $ 6.21 Net income and accretion attributable to noncontrolling interests — — — — Net income attributable to Hyatt Hotels Corporation $ 2.80 $ 2.09 $ 4.17 $ 6.21
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, 2019 and September 30, 2018 do not include the following shares of Class A common stock assumed to be issued as stock- settled SARs because they are anti- dilutive. Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 SARs 14,800 — 14,400 —

Other Income (Loss), Net (Table

Other Income (Loss), Net (Tables)	9 Months Ended
	Sep. 30, 2019
Other Income and Expenses [Abstract]
Other Income (Loss), Net	Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Depreciation recovery $ 7 $ 5 $ 19 $ 16 Interest income (Note 4) 6 7 18 19 Performance guarantee liability amortization (Note 13) 5 4 14 14 Unrealized gains (losses) (Note 4) 3 (15 ) 23 (21 ) Release of contingent consideration liability (Note 6) 2 — 29 — Release and amortization of debt repayment guarantee liability (Note 13) 1 2 18 8 Impairment of an equity security without a readily determinable fair value (Note 4) — — — (22 ) Loss on extinguishment of debt (Note 10) — (7 ) — (7 ) Performance guarantee expense, net (Note 13) (1 ) (6 ) (25 ) (41 ) Other, net 2 1 8 12 Other income (loss), net $ 25 $ (9 ) $ 104 $ (22 )

Organization (Details)

Organization (Details)	Sep. 30, 2019hotelcountryroom
Organization
Number of countries in which entity operates | country	63
Full service
Organization
Number of hotels operated or franchised	434
Number of rooms operated or franchised | room	151,995
Select service
Organization
Number of hotels operated or franchised	453
Number of rooms operated or franchised | room	64,500
Select service | United States
Organization
Number of hotels operated or franchised	390
All inclusive
Organization
Number of hotels operated or franchised	6
Number of rooms operated or franchised | room	2,403
Wellness resorts
Organization
Number of hotels operated or franchised	3
Number of rooms operated or franchised | room	410

Recently Issued Accounting Pr_4

Recently Issued Accounting Pronouncements - Narrative (Details) - USD ($)	Jan. 01, 2019	Sep. 30, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease right-of-use assets	$ 512,000,000	$ 488,000,000
Total operating lease liabilities		$ 428,000,000
Effect of the adoption of ASU 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease right-of-use assets	512,000,000
Total operating lease liabilities	452,000,000
Leases, tax impact	0
Below Market Lease Related Intangibles | Effect of the adoption of ASU 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reclassification from assets and liabilities	103,000,000
Deferred Lease Liabilities | Effect of the adoption of ASU 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reclassification from assets and liabilities	$ (49,000,000)

Recently Issued Accounting Pr_5

Recently Issued Accounting Pronouncements - Schedule of Changes Due to Adoption of ASU 2016-02 (Details) - USD ($) $ in Millions	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Jan. 01, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017
ASSETS
Prepaids and other assets	$ 129			$ 147	$ 149
Intangibles, net	453			525	628
Other assets	1,476			1,346	1,353
Operating lease right-of-use assets	488			512
TOTAL ASSETS	8,129			8,043	7,643
LIABILITIES AND EQUITY
Accounts payable	144			150	151
Accrued expenses and other current liabilities	315			359	361
Current operating lease liabilities	33			34
Long-term operating lease liabilities	395			418
Other long-term liabilities	846			791	840
Total liabilities	4,368			4,366	3,966
Total equity	3,761	$ 3,647	$ 3,628	3,677	3,677	$ 3,935	$ 3,701	$ 4,194	$ 3,839
TOTAL LIABILITIES AND EQUITY	$ 8,129			8,043	$ 7,643
Effect of the adoption of ASU 2016-02
ASSETS
Prepaids and other assets				(2)
Intangibles, net				(103)
Other assets				(7)
Operating lease right-of-use assets				512
TOTAL ASSETS				400
LIABILITIES AND EQUITY
Accounts payable				(1)
Accrued expenses and other current liabilities				(2)
Current operating lease liabilities				34
Long-term operating lease liabilities				418
Other long-term liabilities				(49)
Total liabilities				400
Total equity				0
TOTAL LIABILITIES AND EQUITY				$ 400

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, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Disaggregation of Revenue [Line Items]
Revenues	$ 1,215	$ 1,074	$ 3,745	$ 3,316
Rooms revenues
Disaggregation of Revenue [Line Items]
Revenues	252	274	794	840
Food and beverage
Disaggregation of Revenue [Line Items]
Revenues	134	135	461	481
Other
Disaggregation of Revenue [Line Items]
Revenues	44	41	135	129
Owned and leased hotels
Disaggregation of Revenue [Line Items]
Revenues	430	450	1,390	1,450
Base management fees
Disaggregation of Revenue [Line Items]
Revenues	64	55	195	167
Incentive management fees
Disaggregation of Revenue [Line Items]
Revenues	33	33	106	105
Franchise fees
Disaggregation of Revenue [Line Items]
Revenues	37	33	107	96
Other fees
Disaggregation of Revenue [Line Items]
Revenues	8	7	21	24
License fees
Disaggregation of Revenue [Line Items]
Revenues	6	5	18	15
Management, franchise, and other fees
Disaggregation of Revenue [Line Items]
Revenues	148	133	447	407
Amortization of management and franchise agreement assets constituting payments to customers
Disaggregation of Revenue [Line Items]
Revenues	(5)	(5)	(16)	(15)
Net management, franchise, and other fees
Disaggregation of Revenue [Line Items]
Revenues	143	128	431	392
Other revenues
Disaggregation of Revenue [Line Items]
Revenues	25	7	98	27
Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties
Disaggregation of Revenue [Line Items]
Revenues	617	489	1,826	1,447
Operating segments | Owned and leased hotels
Disaggregation of Revenue [Line Items]
Revenues	425	443	1,364	1,428
Operating segments | Owned and leased hotels | Rooms revenues
Disaggregation of Revenue [Line Items]
Revenues	259	276	804	848
Operating segments | Owned and leased hotels | Food and beverage
Disaggregation of Revenue [Line Items]
Revenues	131	133	452	474
Operating segments | Owned and leased hotels | Other
Disaggregation of Revenue [Line Items]
Revenues	35	34	108	106
Operating segments | Owned and leased hotels | Owned and leased hotels
Disaggregation of Revenue [Line Items]
Revenues	425	443	1,364	1,428
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 | Amortization of management and franchise agreement assets constituting payments to customers
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	0
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	683	538	2,074	1,619
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	55	48	173	150
Operating segments | Americas management and franchising | Incentive management fees
Disaggregation of Revenue [Line Items]
Revenues	13	14	46	47
Operating segments | Americas management and franchising | Franchise fees
Disaggregation of Revenue [Line Items]
Revenues	36	32	104	94
Operating segments | Americas management and franchising | Other fees
Disaggregation of Revenue [Line Items]
Revenues	2	1	3	10
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	106	95	326	301
Operating segments | Americas management and franchising | Amortization of management and franchise agreement assets constituting payments to customers
Disaggregation of Revenue [Line Items]
Revenues	(4)	(4)	(11)	(10)
Operating segments | Americas management and franchising | Net management, franchise, and other fees
Disaggregation of Revenue [Line Items]
Revenues	102	91	315	291
Operating segments | Americas management and franchising | Other revenues
Disaggregation of Revenue [Line Items]
Revenues	16	0	71	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	565	447	1,688	1,328
Operating segments | ASPAC management and franchising
Disaggregation of Revenue [Line Items]
Revenues	62	54	175	156
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	11	33	32
Operating segments | ASPAC management and franchising | Incentive management fees
Disaggregation of Revenue [Line Items]
Revenues	17	16	51	50
Operating segments | ASPAC management and franchising | Franchise fees
Disaggregation of Revenue [Line Items]
Revenues	1	1	3	2
Operating segments | ASPAC management and franchising | Other fees
Disaggregation of Revenue [Line Items]
Revenues	3	2	9	6
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	32	30	96	90
Operating segments | ASPAC management and franchising | Amortization of management and franchise agreement assets constituting payments to customers
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	32	30	95	89
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	30	24	80	67
Operating segments | EAME/SW Asia management and franchising
Disaggregation of Revenue [Line Items]
Revenues	40	36	108	103
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	10	9	27	25
Operating segments | EAME/SW Asia management and franchising | Incentive management fees
Disaggregation of Revenue [Line Items]
Revenues	9	10	26	29
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	2	5	4
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	21	58	58
Operating segments | EAME/SW Asia management and franchising | Amortization of management and franchise agreement assets constituting payments to customers
Disaggregation of Revenue [Line Items]
Revenues	(1)	(1)	(4)	(4)
Operating segments | EAME/SW Asia management and franchising | Net management, franchise, and other fees
Disaggregation of Revenue [Line Items]
Revenues	20	20	54	54
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	20	16	54	49
Corporate and other
Disaggregation of Revenue [Line Items]
Revenues	34	28	105	92
Corporate and other | Rooms revenues
Disaggregation of Revenue [Line Items]
Revenues	4	5	17	18
Corporate and other | Food and beverage
Disaggregation of Revenue [Line Items]
Revenues	3	2	9	7
Corporate and other | Other
Disaggregation of Revenue [Line Items]
Revenues	9	7	27	23
Corporate and other | Owned and leased hotels
Disaggregation of Revenue [Line Items]
Revenues	16	14	53	48
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	1	2	4	4
Corporate and other | License fees
Disaggregation of Revenue [Line Items]
Revenues	6	5	18	15
Corporate and other | Management, franchise, and other fees
Disaggregation of Revenue [Line Items]
Revenues	7	7	22	19
Corporate and other | Amortization of management and franchise agreement assets constituting payments to customers
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	7	22	19
Corporate and other | Other revenues
Disaggregation of Revenue [Line Items]
Revenues	9	5	26	22
Corporate and other | Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties
Disaggregation of Revenue [Line Items]
Revenues	2	2	4	3
Eliminations
Disaggregation of Revenue [Line Items]
Revenues	(29)	(25)	(81)	(82)
Eliminations | Rooms revenues
Disaggregation of Revenue [Line Items]
Revenues	(11)	(7)	(27)	(26)
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	(11)	(7)	(27)	(26)
Eliminations | Base management fees
Disaggregation of Revenue [Line Items]
Revenues	(12)	(13)	(38)	(40)
Eliminations | Incentive management fees
Disaggregation of Revenue [Line Items]
Revenues	(6)	(7)	(17)	(21)
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	(18)	(20)	(55)	(61)
Eliminations | Amortization of management and franchise agreement assets constituting payments to customers
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Eliminations | Net management, franchise, and other fees
Disaggregation of Revenue [Line Items]
Revenues	(18)	(20)	(55)	(61)
Eliminations | Other revenues
Disaggregation of Revenue [Line Items]
Revenues	0	2	1	5
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	11	7	27	26
Eliminations | Americas management and franchising
Disaggregation of Revenue [Line Items]
Revenues	14	16	47	52
Eliminations | ASPAC management and franchising
Disaggregation of Revenue [Line Items]
Revenues	1	1	1	1
Eliminations | EAME/SW Asia management and franchising
Disaggregation of Revenue [Line Items]
Revenues	$ 3	$ 3	$ 7	$ 8

Revenue from Contracts with C_4

Revenue from Contracts with Customers - Contract Balances (Details) - USD ($)	3 Months Ended		6 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Contract assets	$ 2,000,000				$ 2,000,000			$ 0
Total contract liabilities	875,000,000	$ 765,000,000	$ 861,000,000	$ 764,000,000	875,000,000	$ 765,000,000		830,000,000	$ 772,000,000
Cash received from contract with customer	265,000,000	223,000,000	490,000,000	433,000,000
Revenue recognized from contract with customer	(251,000,000)	(222,000,000)	$ (459,000,000)	$ (441,000,000)
Revenue recognized from contract with customer beginning balance	80,000,000	$ 81,000,000			318,000,000	$ 299,000,000
Deferred revenue related to the loyalty program
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total contract liabilities	657,000,000				657,000,000			596,000,000
Advanced deposits
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total contract liabilities	77,000,000				77,000,000			81,000,000
Initial fees received from franchise owners
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total contract liabilities	39,000,000				39,000,000			35,000,000
Deferred revenue related to system-wide services
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total contract liabilities	11,000,000				11,000,000			7,000,000
Other deferred revenue
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total contract liabilities	$ 91,000,000				$ 91,000,000			$ 111,000,000
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, 2019USD ($)
Revenue from Contract with Customer [Abstract]
Remaining performance obligation	$ 130
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]: 2019-10-01
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 - Na

Debt and Equity Securities - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Schedule of Debt and Equity Method Investments
Equity method investments	$ 229		$ 229		$ 233
Equity method investment, realized gain on disposal		$ 1	8	$ 11
Equity method investment, net sales proceeds	2	7	25	17
Equity method investment, impairment charges	$ 6		$ 7
Equity method investment, net purchase price		4		4
Common stock, shares sold (in shares)	0		0
Held-to-maturity securities	$ 56		$ 56		49
Equity securities without a readily determinable fair value	9		9		$ 9
Investments, impairment charges	0	0	0	22
Unconsolidated Hospitality Venture
Schedule of Debt and Equity Method Investments
Equity method investment, impairment charges				16
Playa Hotels & Resorts N.V. | Common shares
Schedule of Debt and Equity Method Investments
Unrealized gains (losses) recognized in other income (loss), net	$ 1	$ (14)	$ 8	$ (14)

Debt and Equity Securities - Su

Debt and Equity Securities - Summarized Financial Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Investments, Debt and Equity Securities [Abstract]
Total revenues	$ 130	$ 135	$ 371	$ 399
Gross operating profit	51	53	139	141
Income (loss) from continuing operations	9	(12)	(2)	(15)
Net income (loss)	$ 9	$ (12)	$ (2)	$ (15)

Debt and Equity Securities - He

Debt and Equity Securities - Held to Fund Operating Programs (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Held for operating programs
Schedule of Investments
Total marketable securities held for investment/operating purposes	$ 1,008	$ 897
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	(205)	(174)
Marketable securities held to fund operating programs included in other assets	803	723
Loyalty program
Schedule of Investments
Total marketable securities held for investment/operating purposes	453	397
Deferred compensation plans held in rabbi trusts
Schedule of Investments
Total marketable securities held for investment/operating purposes	419	367
Captive insurance companies
Schedule of Investments
Total marketable securities held for investment/operating purposes	$ 136	$ 133

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, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Gain (Loss) on Securities [Line Items]
Loyalty program	$ 0	$ 10	$ 41	$ 19
Net gains and interest income from marketable securities held to fund rabbi trusts	0	10	41	19
Loyalty program
Gain (Loss) on Securities [Line Items]
Loyalty program	5	1	24	(2)
Net gains and interest income from marketable securities held to fund rabbi trusts	5	1	24	(2)
Deferred compensation plans held in rabbi trusts
Gain (Loss) on Securities [Line Items]
Unrealized gains (losses)	(2)	5	35	7
Realized gains	$ 2	$ 5	$ 6	$ 12

Debt and Equity Securities - _2

Debt and Equity Securities - Held for Investment Purposes (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Schedule of Investments
Common shares of Playa N.V. (Note 4)	$ 95	$ 87
Held for Investment Purposes
Schedule of Investments
Interest-bearing money market funds	202	14
Common shares of Playa N.V. (Note 4)	95	87
Time deposits	37	100
Total marketable securities held for investment/operating purposes	334	201
Less current portion of marketable securities held for investment purposes included in cash and cash equivalents and short-term investments	(239)	(114)
Marketable securities held for investment purposes included in other assets	$ 95	$ 87

Debt and Equity Securities - Fa

Debt and Equity Securities - Fair Value of Investments (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Investments, fair value disclosure	$ 1,342	$ 1,098
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	308	88
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	419	367
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	95	87
Level Two - Significant Other Observable Inputs | Time deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Investments, fair value disclosure	49	113
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	195	169
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	58	52
Level Two - Significant Other Observable Inputs | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Investments, fair value disclosure	155	151
Level Two - Significant Other Observable Inputs | Mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Investments, fair value disclosure	23	23
Level Two - Significant Other Observable Inputs | Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Investments, fair value disclosure	38	46
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
Cash and cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Investments, fair value disclosure	308	88
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	308	88
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	63	116
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	41	104
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	2	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	20	10
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	73	84
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	34	37
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	7	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	21	25
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	4	5
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	7	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	0	0
Other assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Investments, fair value disclosure	898	810
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	419	367
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	95	87
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	9
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	161	132
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	49	43
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	114	116
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	19	18
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	31	36
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, 2019	Jun. 30, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Dec. 31, 2017
Accounts, Notes, Loans and Financing Receivable
Total long-term financing receivables, net of allowances	$ 19		$ 13
Unsecured financing
Accounts, Notes, Loans and Financing Receivable
Unsecured financing to hotel owners	119		159
Less: current portion of financing receivables, included in receivables, net	0		(45)
Less: allowance for losses	(100)	$ (100)	(101)	$ (99)	$ (109)	$ (108)
Total long-term financing receivables, net of allowances	$ 19		$ 13

Financing Receivables - Allowan

Financing Receivables - Allowance for Losses and Impairments (Details) - Unsecured financing - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Allowance for Losses and Impairments
Allowance beginning balance	$ 100	$ 109	$ 101	$ 108
Provisions	1	2	3	3
Other adjustments	(1)	0	0	(2)
Write-offs	0	(12)	(4)	0
Allowance ending balance	$ 100	$ 99	$ 100	$ 109

Financing Receivables - Credit

Financing Receivables - Credit Monitoring (Details) - Unsecured financing - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2019	Dec. 31, 2018	Jun. 30, 2019	Sep. 30, 2018	Jun. 30, 2018	Dec. 31, 2017
Unsecured Financing Receivables
Gross loan balance (principal and interest)	$ 119	$ 159
Related allowance	(100)	(101)	$ (100)	$ (99)	$ (109)	$ (108)
Net financing receivables	19	58
Gross receivables on non-accrual status	102	101
Loans
Unsecured Financing Receivables
Gross loan balance (principal and interest)	17	58
Related allowance	(1)	0
Net financing receivables	16	58
Gross receivables on non-accrual status	0	0
Impaired loans
Unsecured Financing Receivables
Impaired loans	44	50
Impaired loans, allowance	(44)	(50)
Net financing receivables	0	0
Gross receivables on non-accrual status	44	50
Impaired financing receivable, unpaid principal balance	34	36
Impaired financing receivable, average recorded investment	47	54
Total loans
Unsecured Financing Receivables
Gross loan balance (principal and interest)	61	108
Related allowance	(45)	(50)
Net financing receivables	16	58
Gross receivables on non-accrual status	44	50
Other financing arrangements
Unsecured Financing Receivables
Gross loan balance (principal and interest)	58	51
Related allowance	(55)	(51)
Net financing receivables	3	0
Gross receivables on non-accrual status	$ 58	$ 51

Financing Receivables - Narrati

Financing Receivables - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Significant unobservable inputs (Level Three)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation
Financing receivables	$ 20	$ 59

Acquisitions and Dispositions -

Acquisitions and Dispositions - Acquisitions Narrative (Details) $ in Millions	Nov. 30, 2018USD ($)asset_acquired	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)	Jan. 01, 2019USD ($)	Dec. 31, 2018USD ($)
Business Acquisition [Line Items]
Acquisitions, net of cash acquired				$ 18	$ 263
Post-acquisition working capital adjustments				(2)
Partial release of contingent consideration		$ (2)	$ 0	(29)	0
Intangibles reclassified to goodwill		453		453		$ 525	$ 628
Goodwill from reclassification of intangible assets		322		322			283
Land Held for Development
Business Acquisition [Line Items]
Payments to acquire land				15
Two Roads Hospitality LLC
Business Acquisition [Line Items]
Purchase price	$ 405
Additional consideration, completion of specific actions	$ 96
Time to meet agreed upon actions	120 days
Additional consideration, event of execution of certain agreements within one year of closing	$ 8
Acquisitions, net of cash acquired	415
Cash acquired	37
Additional considerations	36
Other purchase price adjustments	4
Additional amount that could be funded	68
Contingent liability		4		4			57
Total net assets acquired	507	507		507			$ 509
Additional consideration owed to sellers		24		24
Partial release of contingent consideration		2		29
Goodwill from reclassification of intangible assets	194
Property and equipment acquired	$ 2
Hyatt Regency Phoenix
Business Acquisition [Line Items]
Business combination, consideration transferred			139
Business combination, proration costs			1
Property and equipment acquired			136		136
Hyatt Regency Indian Wells Resort And Spa
Business Acquisition [Line Items]
Business combination, consideration transferred			120
Property and equipment acquired			$ 119		$ 119
Brand And Other Intangibles | Two Roads Hospitality LLC
Business Acquisition [Line Items]
Number of brands acquired | asset_acquired	5
Scenario, Adjustment | Two Roads Hospitality LLC
Business Acquisition [Line Items]
Intangibles reclassified to goodwill		(34)		(34)
Goodwill from reclassification of intangible assets		$ 34		$ 34

Acquisitions and Dispositions_2

Acquisitions and Dispositions - Schedule of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Millions	Nov. 30, 2018	Sep. 30, 2019	Dec. 31, 2018
Business Acquisition [Line Items]
Goodwill		$ 322	$ 283
Two Roads Hospitality LLC
Business Acquisition [Line Items]
Cash	$ 32
Receivables	20
Other current assets	2
Equity method investment	2
Property and equipment	2
Indefinite-lived intangibles	96
Management agreement intangibles	209
Goodwill	194
Other assets	25
Total assets	582
Advanced deposits	20
Other current liabilities	22
Other long-term liabilities	33
Total liabilities	75
Total net assets acquired	507	$ 507	$ 509
Goodwill expected tax deductible amount	152
Prior year tax liabilities	13
Income tax examination, penalties and interest expense	$ 4
Two Roads Hospitality LLC | Management Agreement | Minimum
Business Acquisition [Line Items]
Weighted-average useful life	1 year
Two Roads Hospitality LLC | Management Agreement | Maximum
Business Acquisition [Line Items]
Weighted-average useful life	19 years
Two Roads Hospitality LLC | Management Agreement | Weighted Average
Business Acquisition [Line Items]
Weighted-average useful life	12 years

Acquisitions and Dispositions_3

Acquisitions and Dispositions - Dispositions Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
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			$ 461	$ 1,334
Asset impairments	$ 9	$ 21	13	21
Equity method investments	229		$ 229		$ 233
Hyatt Regency Atlanta | 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	346
Gains on sales of real estate	272
Property Adjacent to Grand Hyatt San Francisco | 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	115
Gains on sales of real estate	$ 101
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]
Proceeds from sales of real estate, net of cash disposed		360
Gains on sales of real estate		240
Disposal group, consideration		405		405
Unsecured financing receivable		46
Asset impairments		$ 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 on sales of real estate				531
Pre-tax net income				$ 15
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%
Unconsolidated Hospitality Venture | 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]
Equity method investments		$ 45		$ 45

Acquisitions and Dispositions_4

Acquisitions and Dispositions - Like-Kind Exchange Agreements (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Business Acquisition [Line Items]
Like-kind exchange period for replacement property identified			45 days
Disposal group, disposed of by sale
Business Acquisition [Line Items]
Proceeds used to in acquisition		$ 198
Proceeds released		$ 23
Disposal group, disposed of by sale | Grand Hyatt San Francisco, Andaz Maui at Wailea Resort, and Hyatt Regency Coconut Point Resort & Spa
Business Acquisition [Line Items]
Proceeds held as restricted for use	$ 115
Disposal group, disposed of by sale | Hyatt Regency Coconut Point Resort & Spa
Business Acquisition [Line Items]
Proceeds held as restricted for use				$ 221

Leases - Narrative (Details)

Leases - Narrative (Details)	9 Months Ended
	Sep. 30, 2019
Minimum
Lessee, Lease, Description [Line Items]
Lessee, operating and finance lease, extension term	1 year
Operating lease, term of contract	1 year
Maximum
Lessee, Lease, Description [Line Items]
Lessee, operating and finance lease, extension term	99 years
Operating lease, term of contract	20 years

Leases - Schedule of Rent Expen

Leases - Schedule of Rent Expense (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019
Leases [Abstract]
Minimum rentals	$ 12	$ 37
Contingent rentals	22	78
Total operating lease expense	$ 34	$ 115

Leases - Supplemental Balance S

Leases - Supplemental Balance Sheet Information (Details) $ in Millions	9 Months Ended
	Sep. 30, 2019USD ($)
Leases [Abstract]
Property and equipment, net	$ 9
Current maturities of long-term debt	2
Long-term debt	9
Total finance lease liabilities	11
Finance lease, amortization	$ 13

Leases - Weighted Average Remai

Leases - Weighted Average Remaining Lease Term and Discount Rates (Details)	Sep. 30, 2019
Leases [Abstract]
Weighted-average remaining lease term - operating leases	21 years
Weighted-average remaining lease term - finance leases	7 years
Weighted-average discount rate - operating leases	3.70%
Weighted-average discount rate - finance leases	0.90%

Leases - Maturities of Lease Li

Leases - Maturities of Lease Liabilities in Accordance with ASC 842 (Details) $ in Millions	Sep. 30, 2019USD ($)
Operating leases
2019 (remaining)	$ 12
2020	47
2021	44
2022	42
2023	39
Thereafter	452
Total minimum lease payments	636
Less: amount representing interest	(208)
Total operating lease liabilities	428
Finance leases
2019 (remaining)	0
2020	3
2021	2
2022	2
2023	2
Thereafter	5
Total minimum lease payments	14
Less: amount representing interest	(3)
Total finance lease liabilities	$ 11

Leases - Maturities of Lease _2

Leases - Maturities of Lease Liabilities in Accordance with ASC 840 (Details) $ in Millions	Dec. 31, 2018USD ($)
Operating leases
2019	$ 46
2020	42
2021	42
2022	38
2023	35
Thereafter	448
Total minimum lease payments	651
Capital leases
2019	3
2020	3
2021	2
2022	2
2023	2
Thereafter	5
Total minimum lease payments	17
Less: amount representing interest	(5)
Present value of minimum lease payments	$ 12

Leases - Rental Income (Details

Leases - Rental Income (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Leases [Abstract]
Rental income	$ 5	$ 7	$ 18	$ 20

Leases - Maturities of Future M

Leases - Maturities of Future Minimum Lease Receipts Under ASC 842 (Details) $ in Millions	Sep. 30, 2019USD ($)
Leases [Abstract]
2019 (remaining)	$ 5
2020	16
2021	12
2022	11
2023	8
Thereafter	14
Total minimum lease receipts	$ 66

Leases - Maturities of Future_2

Leases - Maturities of Future Minimum Lease Receipts Under ASC 840 (Details) $ in Millions	Dec. 31, 2018USD ($)
Leases [Abstract]
2019	$ 22
2020	18
2021	16
2022	15
2023	11
Thereafter	48
Operating Leases, Future Minimum Payments Receivable	$ 130

Intangibles, Net - Schedule of

Intangibles, Net - Schedule of Intangible Assets (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2019	Jan. 01, 2019	Dec. 31, 2018
Schedule of Intangible Asset by Major Class
Intangible assets, gross	$ 542		$ 713
Less: accumulated amortization	(89)		(85)
Intangibles, net	453	$ 525	628
Brand and other indefinite-lived intangibles
Schedule of Intangible Asset by Major Class
Intangible assets, gross	149		180
Management and franchise agreement intangibles
Schedule of Intangible Asset by Major Class
Intangible assets, gross	$ 371		390
Weighted- average useful lives in years	18 years
Lease related intangibles
Schedule of Intangible Asset by Major Class
Intangible assets, gross	$ 0		121
Weighted- average useful lives in years	0 years
Advanced booking intangibles
Schedule of Intangible Asset by Major Class
Intangible assets, gross	$ 14		14
Weighted- average useful lives in years	6 years
Other definite-lived intangibles
Schedule of Intangible Asset by Major Class
Intangible assets, gross	$ 8		$ 8
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, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 8	$ 3	$ 18	$ 10

Intangibles, Net - Narrative (D

Intangibles, Net - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019
Management and franchise agreement intangibles
Finite-Lived Intangible Assets [Line Items]
Impairment of intangible assets	$ 9	$ 13

Other Assets (Details)

Other Assets (Details) - USD ($) $ in Millions	Sep. 30, 2019	Jan. 01, 2019	Dec. 31, 2018
Other Assets, Noncurrent [Abstract]
Marketable securities held to fund rabbi trusts (Note 4)	$ 419		$ 367
Management and franchise agreement assets constituting payments to customers (1)	409		396
Marketable securities held to fund the loyalty program (Note 4)	338		303
Long-term investments	111		112
Common shares of Playa N.V. (Note 4)	95		87
Other	104		88
Total other assets	$ 1,476	$ 1,346	$ 1,353

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Debt Instrument
Long-term debt, net of current maturities	$ 1,612,000,000		$ 1,612,000,000		$ 1,623,000,000
Discounts and offering expenses	15,000,000		15,000,000		16,000,000
Loss on extinguishment of debt	$ 0	$ 7,000,000	0	$ 7,000,000
Revolving credit facility
Debt Instrument
Borrowings from revolving credit facility during period			$ 180,000,000
Revolving credit facility, weighted average interest rate	3.46%		3.46%
Revolving credit facility, outstanding balance	$ 0		$ 0		$ 0
Revolving credit facility, remaining borrowing capacity	1,500,000,000		1,500,000,000
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, 2019	Dec. 31, 2018
Debt Instrument
Finance lease obligations	$ 11
Unamortized discount and deferred financing fees	15	$ 16
Capital lease obligations		12
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	1,685	1,584
Significant unobservable inputs (Level Three)
Debt Instrument
Debt, excluding capital lease obligations and unamortized discounts and deferred financing fees, fair value	60	67
Carrying value
Debt Instrument
Debt, excluding capital lease obligations and unamortized discounts and deferred financing fees, fair value	1,627	1,638
Fair value
Debt Instrument
Debt, excluding capital lease obligations and unamortized discounts and deferred financing fees, fair value	$ 1,745	$ 1,651

Debt - Interest Rate Locks (Det

Debt - Interest Rate Locks (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Unrealized gains (losses) on derivative activity, net of tax benefit	$ (13,000,000)	$ 3,000,000	$ (30,000,000)	$ 2,000,000
Interest Rate Contract
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, notional amount	275,000,000		275,000,000
Derivative liability, noncurrent	$ 34,000,000		$ 34,000,000		$ 4,000,000
Interest rate locks settled		$ 225,000,000		$ 225,000,000

Other Long-Term Liabilities (De

Other Long-Term Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2019	Jan. 01, 2019	Dec. 31, 2018
Other Liabilities [Abstract]
Deferred compensation plans funded by rabbi trusts (Note 4)	$ 419		$ 367
Income taxes payable	145		131
Self-insurance liabilities (Note 13)	79		78
Deferred income taxes	47		54
Guarantee liabilities (Note 13)	37		76
Other	119		134
Total other long-term liabilities	$ 846	$ 791	$ 840

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Tax Credit Carryforward [Line Items]
Effective income tax rate	26.90%	7.70%	25.00%	21.20%
Settlement with Taxing Authority
Tax Credit Carryforward [Line Items]
Estimated income tax liability based on taxing authority’s assessment			$ 188
Estimated income tax liability, interest			44
Amount of unrecognized tax benefits that would affect the tax rate if recognized	$ 67		$ 67

Commitments and Contingencies -

Commitments and Contingencies - Commitments and Performance Guarantees Narrative (Details)	9 Months Ended
	Sep. 30, 2019USD ($)hotel	Sep. 30, 2019EUR (€)hotel	Jun. 30, 2019USD ($)	Dec. 31, 2018USD ($)	Sep. 30, 2018USD ($)	Jun. 30, 2018USD ($)	Dec. 31, 2017USD ($)
Performance guarantee
Loss Contingencies
Remaining maximum exposure	$ 252,000,000
Guarantor obligations, liability, current carrying value	13,000,000		$ 23,000,000	$ 47,000,000	$ 37,000,000	$ 41,000,000	$ 71,000,000
Performance guarantee | Other long-term liabilities
Loss Contingencies
Guarantor obligations, liability, current carrying value	4,000,000			25,000,000
Performance guarantee | Accrued expenses and other current liabilitiess
Loss Contingencies
Guarantor obligations, liability, current carrying value	9,000,000			22,000,000
Performance test clause guarantee
Loss Contingencies
Guarantor obligations, liability, 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
Remaining maximum exposure	$ 196,000,000	€ 180,000,000
Guarantor obligations, liability, current carrying value	7,000,000		$ 16,000,000	$ 36,000,000	$ 28,000,000	$ 36,000,000	$ 58,000,000
Various Business Ventures
Loss Contingencies
Commitment to loan or investment	395,000,000
Hotel property in Oregon
Loss Contingencies
Remaining purchase price	$ 140,000,000

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, 2019	Sep. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Guarantor Obligations
Amortization of initial guarantee obligation liability into income	$ (5)	$ (4)			$ (14)	$ (14)
Performance guarantee expense (recovery), net	(1)	(6)			(25)	(41)
Performance guarantee
Guarantor Obligations
Beginning balance	23	41	$ 47	$ 71	47	71
Initial guarantee obligation liability			1	0
Amortization of initial guarantee obligation liability into income	(5)	(4)	(9)	(10)
Performance guarantee expense (recovery), net	1	6	24	35
Net payments during the period	(5)	(7)	(40)	(55)
Foreign currency exchange, net	(1)	1
Ending balance	13	37	23	41	13	37
Performance guarantee | The four managed hotels in France
Guarantor Obligations
Beginning balance	16	36	36	58	36	58
Initial guarantee obligation liability			0	0
Amortization of initial guarantee obligation liability into income	(4)	(3)	(8)	(8)
Performance guarantee expense (recovery), net	(1)	3	24	36
Net payments during the period	(3)	(9)	(36)	(50)
Foreign currency exchange, net	(1)	1
Ending balance	7	28	16	36	7	28
Performance guarantee | Other performance guarantees
Guarantor Obligations
Beginning balance	7	5	11	13	11	13
Initial guarantee obligation liability			1	0
Amortization of initial guarantee obligation liability into income	(1)	(1)	(1)	(2)
Performance guarantee expense (recovery), net	2	3	0	(1)
Net payments during the period	(2)	2	(4)	(5)
Foreign currency exchange, net	0	0
Ending balance	$ 6	$ 9	$ 7	$ 5	$ 6	$ 9

Commitments and Contingencies_3

Commitments and Contingencies - Schedule of Debt Guarantees (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Loss Contingencies
Debt repayment and other guarantees, other long-term liabilities	$ 37,000,000		$ 37,000,000		$ 76,000,000
Release and amortization of debt repayment guarantee liability (Note 13)	1,000,000	$ 2,000,000	18,000,000	$ 8,000,000
Debt repayment and other guarantees
Loss Contingencies
Debt repayment and other guarantees, maximum potential future payments	444,000,000		444,000,000
Debt repayment and other guarantees, maximum exposure net of recoverability from third parties	267,000,000		267,000,000
Debt repayment and other guarantees, other long-term liabilities	33,000,000		33,000,000		51,000,000
Debt repayment and other guarantees | Hotel properties in India
Loss Contingencies
Debt repayment and other guarantees, maximum potential future payments	169,000,000		169,000,000
Debt repayment and other guarantees, maximum exposure net of recoverability from third parties	169,000,000		169,000,000
Debt repayment and other guarantees, other long-term liabilities	6,000,000		6,000,000		10,000,000
Debt repayment and other guarantees | Hotel and residential properties in Brazil
Loss Contingencies
Debt repayment and other guarantees, maximum potential future payments	97,000,000		97,000,000
Debt repayment and other guarantees, maximum exposure net of recoverability from third parties	40,000,000		40,000,000
Debt repayment and other guarantees, other long-term liabilities	3,000,000		3,000,000		3,000,000
Debt repayment and other guarantees | Hotel Properties In Tennessee
Loss Contingencies
Debt repayment and other guarantees, maximum potential future payments	44,000,000		44,000,000
Debt repayment and other guarantees, maximum exposure net of recoverability from third parties	20,000,000		20,000,000
Debt repayment and other guarantees, other long-term liabilities	9,000,000		9,000,000		2,000,000
Debt repayment and other guarantees | Hotel property in Massachusetts
Loss Contingencies
Debt repayment and other guarantees, maximum potential future payments	40,000,000		40,000,000
Debt repayment and other guarantees, maximum exposure net of recoverability from third parties	14,000,000		14,000,000
Debt repayment and other guarantees, other long-term liabilities	7,000,000		7,000,000		8,000,000
Debt repayment and other guarantees | Hotel properties in California
Loss Contingencies
Debt repayment and other guarantees, maximum potential future payments	31,000,000		31,000,000
Debt repayment and other guarantees, maximum exposure net of recoverability from third parties	12,000,000		12,000,000
Debt repayment and other guarantees, other long-term liabilities	3,000,000		3,000,000		4,000,000
Debt repayment and other guarantees | Hotel property in Oregon
Loss Contingencies
Debt repayment and other guarantees, maximum potential future payments	28,000,000		28,000,000
Debt repayment and other guarantees, maximum exposure net of recoverability from third parties	7,000,000		7,000,000
Debt repayment and other guarantees, other long-term liabilities	3,000,000		3,000,000		4,000,000
Debt repayment and other guarantees | Hotel property in Arizona
Loss Contingencies
Debt repayment and other guarantees, maximum potential future payments	25,000,000		25,000,000
Debt repayment and other guarantees, maximum exposure net of recoverability from third parties	0		0
Debt repayment and other guarantees, other long-term liabilities	0		0		1,000,000
Debt repayment and other guarantees | Other
Loss Contingencies
Debt repayment and other guarantees, maximum potential future payments	10,000,000		10,000,000
Debt repayment and other guarantees, maximum exposure net of recoverability from third parties	5,000,000		5,000,000
Debt repayment and other guarantees, other long-term liabilities	2,000,000		2,000,000		$ 19,000,000
Release and amortization of debt repayment guarantee liability (Note 13)			15,000,000
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	$ 85,000,000		$ 85,000,000
Debt repayment and other guarantees, equity method investment, ownership percentage	50.00%		50.00%
Construction Loans | Debt repayment and other guarantees | Hotel property in Massachusetts
Loss Contingencies
Debt repayment and other guarantees, maximum exposure net of recoverability from third parties	$ 0		$ 0
Construction Loans | Debt repayment and other guarantees | Hotel Property in Washington and Hotel Property In Oregon
Loss Contingencies
Debt repayment and other guarantees, maximum exposure net of recoverability from third parties	0		0
Completion Guarantee | Debt repayment and other guarantees | Hotel property in Massachusetts
Loss Contingencies
Debt repayment and other guarantees, maximum potential future payments	13,000,000		13,000,000
Completion Guarantee | Debt repayment and other guarantees | Hotel Property in Washington and Hotel Property In Oregon
Loss Contingencies
Debt repayment and other guarantees, maximum potential future payments	$ 12,000,000		$ 12,000,000

Commitments and Contingencies_4

Commitments and Contingencies - Guarantee Liabilities Fair Value Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Guarantees, fair value disclosure	$ 112	$ 128

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, 2019	Dec. 31, 2018
Loss Contingencies
Self insurance reserve, current	$ 40	$ 38
Self-insurance reserve, noncurrent	79	$ 78
Surety bonds	46
Maximum
Loss Contingencies
Maximum exposure of possible loss	18
Letter of credit
Loss Contingencies
Letters of credit outstanding, amount	$ 286
Various US
Loss Contingencies
Multiemployer plans, collective-bargaining arrangement, percentage of participants	22.00%

Equity - Accumulated Other Comp

Equity - Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Total Equity
Balance, beginning of period	$ 3,647	$ 3,701	$ 3,677	$ 3,839
Balance, end of period	3,761	3,935	3,761	3,935
Foreign currency translation adjustments
Total Equity
Balance, beginning of period	(191)	(266)		(243)
Beginning balance, adjusted					$ (191)
Current period other comprehensive income (loss) before reclassification	(27)	9	(27)	(29)
Amount reclassified from accumulated other comprehensive loss	0	62	0	77
Balance, end of period	(218)	(195)	(218)	(195)
Unrecognized pension cost
Total Equity
Balance, beginning of period	(5)	(7)		(7)
Beginning balance, adjusted					(5)
Current period other comprehensive income (loss) before reclassification	0	0	0	0
Amount reclassified from accumulated other comprehensive loss	0	0	0	0
Balance, end of period	(5)	(7)	(5)	(7)
Unrealized losses on derivative instruments
Total Equity
Balance, beginning of period	(16)	(3)		(3)
Beginning balance, adjusted					(4)
Current period other comprehensive income (loss) before reclassification	(9)	3	(21)	3
Amount reclassified from accumulated other comprehensive loss	0	0	0	0
Balance, end of period	(25)	0	(25)	0
Accumulated other comprehensive loss
Total Equity
Balance, beginning of period	(212)	(276)	(200)	(253)
Beginning balance, adjusted					$ (200)
Current period other comprehensive income (loss) before reclassification	(36)	12	(48)	(26)
Amount reclassified from accumulated other comprehensive loss	0	62	0	77
Balance, end of period	$ (248)	$ (202)	$ (248)	$ (202)

Equity - Share Repurchase (Deta

Equity - Share Repurchase (Details) - USD ($)	3 Months Ended						9 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018	Dec. 31, 2017
Share Repurchase
Stock repurchase program, authorized amount									$ 750,000,000	$ 1,250,000,000
Stock repurchased during period (in shares)							3,829,427	8,560,012
Stock repurchased and retired during period, excluding insignificant expenses							$ 280,000,000	$ 674,000,000
Percent of stock outstanding repurchased during period							4.00%	7.00%
Stock repurchased and retired during period	$ 133,000,000	$ 45,000,000	$ 102,000,000	$ 66,000,000	$ 513,000,000	$ 75,000,000
Stock repurchase program, remaining authorized repurchase amount	$ 388,000,000						$ 388,000,000
Weighted Average
Share Repurchase
Stock repurchased and retired during period (in dollars per share)							$ 73.08	$ 78.42
May 2018 ASR
Share Repurchase
Stock repurchased 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
November 2017 ASR
Share Repurchase
Stock repurchased during period (in shares)								244,260
Stock repurchased and retired during period								$ 20,000,000

Equity - Dividend (Details)

Equity - Dividend (Details) - USD ($) $ / shares in Units, $ in Millions	Sep. 09, 2019	Jul. 31, 2019	Jun. 10, 2019	May 17, 2019	Mar. 11, 2019	Feb. 13, 2019	Sep. 20, 2018	Jul. 31, 2018	Jun. 28, 2018	May 16, 2018	Mar. 29, 2018	Feb. 14, 2018	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Sep. 30, 2019	Sep. 30, 2018
Class of Stock [Line Items]
Cash dividends													$ 20	$ 20	$ 20	$ 17	$ 17	$ 18	$ 60	$ 52
Cash dividend (in dollars per share)	$ 0.19		$ 0.19		$ 0.19		$ 0.15		$ 0.15		$ 0.15		$ 0.19	$ 0.19	$ 0.19	$ 0.15	$ 0.15	$ 0.15
Cash dividend declared (in dollars per share)		$ 0.19		$ 0.19		$ 0.19		$ 0.15		$ 0.15		$ 0.15
Common Class A
Class of Stock [Line Items]
Cash dividends													$ 8			$ 7			22	21
Common Class B
Class of Stock [Line Items]
Cash dividends													$ 12			$ 10			$ 38	$ 31

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, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award
Compensation expense	$ 4	$ 5	$ 28	$ 28
SARs
Share-based Compensation Arrangement by Share-based Payment Award
Compensation expense	1	1	11	10
RSUs
Share-based Compensation Arrangement by Share-based Payment Award
Compensation expense	2	2	13	14
PSUs
Share-based Compensation Arrangement by Share-based Payment Award
Compensation expense	$ 1	$ 2	$ 4	$ 4

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
SARs and RSUs
Share-based Compensation Arrangement by Share-based Payment Award
Amortization period, deferred compensation expense	3 years
SARs
Share-based Compensation Arrangement by Share-based Payment Award
Grants in period (in shares)	643,989	504,760
Grants in period, weighted-average fair value at grant date (in dollars per share)	$ 17.11	$ 21.18
Total unearned compensation	$ 2
RSUs
Share-based Compensation Arrangement by Share-based Payment Award
Grants in period (in shares)	355,774	272,549
Grants in period, weighted-average fair value at grant date (in dollars per share)	$ 72.05	$ 79.90
Total unearned compensation	$ 17
Performance Shares (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award
Grants in period (in shares)	120,720	89,441
Grants in period, weighted-average fair value at grant date (in dollars per share)	$ 77.95	$ 82.10
Performance period	3 years
Total unearned compensation	$ 10
Amortization period, deferred compensation expense	2 years

Related-Party Transactions - Le

Related-Party Transactions - Legal Services (Details) - Family member of management - Related party legal services - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Related Party Transaction
Legal services	$ 2,000,000	$ 2,000,000	$ 5,000,000	$ 5,000,000
Due to (from) related parties	$ 2,000,000		$ 2,000,000		$ 0

Related-Party Transactions - Eq

Related-Party Transactions - Equity Method Investments (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
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	$ 5,000,000	$ 5,000,000	$ 15,000,000	$ 15,000,000
Due (to) from related parties	13,000,000		13,000,000		$ 17,000,000
Guarantee fees	$ 1,000,000	$ 2,000,000	$ 3,000,000	$ 5,000,000

Related-Party Transactions - Ot

Related-Party Transactions - Other Services (Details) - Limited Partnership Affiliated with Executive Chairman - Management Agreement - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019	Dec. 31, 2018
Related Party Transaction
Management fees	$ 2	$ 4
Receivables due from related parties	$ 0	$ 0	$ 0

Related-Party Transactions - Sh

Related-Party Transactions - Share Conversion (Details) - $ / shares	3 Months Ended	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2018	Sep. 30, 2019	Dec. 31, 2018
Common Class B
Related Party Transaction
Conversion of stock, shares converted (in shares)	950,161	1,207,355
Common stock, par value per share (in dollars per share)			$ 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

Related-Party Transactions - _2

Related-Party Transactions - Share Repurchase (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Sep. 30, 2019	Sep. 30, 2018
Related Party Transaction
Stock repurchased during period	$ 133	$ 45	$ 102	$ 66	$ 513	$ 75
Percent of stock outstanding repurchased during period							4.00%	7.00%
Common Class B
Related Party Transaction
Stock repurchased during period, shares	677,384						677,384	2,427,000
Stock repurchased during period (in dollars per share)	$ 74.21						$ 74.21	$ 78.11
Stock repurchased during period	$ 50						$ 50	$ 190
Percent of stock outstanding repurchased during period	1.00%						1.00%	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, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Segment Reporting Information
Total revenues	$ 1,215	$ 1,074	$ 3,745	$ 3,316
Adjusted EBITDA	163	175	563	595
Depreciation and amortization	85	81	248	243
Owned and leased hotels
Segment Reporting Information
Total revenues	430	450	1,390	1,450
Other revenues
Segment Reporting Information
Total revenues	25	7	98	27
Management, franchise, and other fees
Segment Reporting Information
Total revenues	148	133	447	407
Amortization of management and franchise agreement assets constituting payments to customers
Segment Reporting Information
Total revenues	(5)	(5)	(16)	(15)
Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties
Segment Reporting Information
Total revenues	617	489	1,826	1,447
Operating segments | Owned and leased hotels
Segment Reporting Information
Total revenues	425	443	1,364	1,428
Adjusted EBITDA	76	91	291	324
Depreciation and amortization	62	65	185	197
Operating segments | Owned and leased hotels | Owned and leased hotels
Segment Reporting Information
Total revenues	425	443	1,364	1,428
Operating segments | Owned and leased hotels | Other revenues
Segment Reporting Information
Total revenues	0	0	0	0
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 | Amortization of management and franchise agreement assets constituting payments to customers
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	683	538	2,074	1,619
Adjusted EBITDA	92	83	285	266
Depreciation and amortization	6	2	18	6
Operating segments | Americas management and franchising | Owned and leased hotels
Segment Reporting Information
Total revenues	0	0	0	0
Operating segments | Americas management and franchising | Other revenues
Segment Reporting Information
Total revenues	16	0	71	0
Operating segments | Americas management and franchising | Management, franchise, and other fees
Segment Reporting Information
Total revenues	106	95	326	301
Operating segments | Americas management and franchising | Amortization of management and franchise agreement assets constituting payments to customers
Segment Reporting Information
Total revenues	(4)	(4)	(11)	(10)
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	565	447	1,688	1,328
Operating segments | ASPAC management and franchising
Segment Reporting Information
Total revenues	62	54	175	156
Adjusted EBITDA	19	19	59	55
Depreciation and amortization	1	1	3	1
Operating segments | ASPAC management and franchising | Owned and leased hotels
Segment Reporting Information
Total revenues	0	0	0	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	32	30	96	90
Operating segments | ASPAC management and franchising | Amortization of management and franchise agreement assets constituting payments to customers
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	30	24	80	67
Operating segments | EAME/SW Asia management and franchising
Segment Reporting Information
Total revenues	40	36	108	103
Adjusted EBITDA	12	12	33	33
Depreciation and amortization	1	0	1	0
Operating segments | EAME/SW Asia management and franchising | Owned and leased hotels
Segment Reporting Information
Total revenues	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	21	58	58
Operating segments | EAME/SW Asia management and franchising | Amortization of management and franchise agreement assets constituting payments to customers
Segment Reporting Information
Total revenues	(1)	(1)	(4)	(4)
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	20	16	54	49
Eliminations
Segment Reporting Information
Total revenues	(29)	(25)	(81)	(82)
Adjusted EBITDA	(1)	(1)	2	2
Eliminations | Owned and leased hotels
Segment Reporting Information
Total revenues	(11)	(7)	(27)	(26)
Eliminations | Other revenues
Segment Reporting Information
Total revenues	0	2	1	5
Eliminations | Management, franchise, and other fees
Segment Reporting Information
Total revenues	(18)	(20)	(55)	(61)
Eliminations | Amortization of management and franchise agreement assets constituting payments to customers
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	11	7	27	26
Eliminations | Americas management and franchising
Segment Reporting Information
Total revenues	14	16	47	52
Eliminations | ASPAC management and franchising
Segment Reporting Information
Total revenues	1	1	1	1
Eliminations | EAME/SW Asia management and franchising
Segment Reporting Information
Total revenues	3	3	7	8
Eliminations | Corporate and other
Segment Reporting Information
Total revenues	0	(2)	(1)	(5)
Corporate and other
Segment Reporting Information
Total revenues	32	26	101	89
Adjusted EBITDA	(35)	(29)	(107)	(85)
Depreciation and amortization	15	13	41	39
Corporate and other | Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties
Segment Reporting Information
Total revenues	$ 2	$ 2	$ 4	$ 3

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, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Segment Reporting Information
Net income attributable to Hyatt Hotels Corporation	$ 296	$ 237	$ 445	$ 725
Interest expense	19	19	58	57
Provision for income taxes	109	19	148	194
Depreciation and amortization	85	81	248	243
EBITDA	509	356	899	1,219
Revenues	(1,215)	(1,074)	(3,745)	(3,316)
Equity losses from unconsolidated hospitality ventures	5	6	2	17
Stock-based compensation expense	4	5	28	28
Gains on sales of real estate	(373)	(239)	(374)	(769)
Asset impairments	9	21	13	21
Other (income) loss, net	(25)	9	(104)	22
Pro rata share of unconsolidated hospitality ventures Adjusted EBITDA	13	14	38	42
Adjusted EBITDA	163	175	563	595
Contra revenue
Segment Reporting Information
Revenues	5	5	16	15
Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties
Segment Reporting Information
Revenues	(617)	(489)	(1,826)	(1,447)
Costs incurred on behalf of managed and franchised properties
Segment Reporting Information
Costs incurred on behalf of managed and franchised properties	$ 633	$ 487	$ 1,871	$ 1,447

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, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Numerator:
Net income	$ 296	$ 237	$ 445	$ 725
Net income and accretion attributable to noncontrolling interests	0	0	0	0
NET INCOME ATTRIBUTABLE TO HYATT HOTELS CORPORATION	$ 296	$ 237	$ 445	$ 725
Denominator:
Basic weighted-average shares outstanding (in shares)	104,349,157	111,356,759	105,226,587	114,829,210
Share-based compensation (in shares)	1,569,736	1,867,226	1,553,693	1,954,863
Diluted weighted-average shares outstanding (in shares)	105,918,893	113,223,985	106,780,280	116,784,073
Basic Earnings Per Share:
Net income (in dollars per share)	$ 2.84	$ 2.12	$ 4.23	$ 6.31
Net income and accretion attributable to noncontrolling interests (in dollars per share)	0	0	0	0
Net income attributable to Hyatt Hotels Corporation (in dollars per share)	2.84	2.12	4.23	6.31
Diluted Earnings Per Share:
Net income (in dollars per share)	2.80	2.09	4.17	6.21
Net income and accretion attributable to noncontrolling interests (in dollars per share)	0	0	0	0
Net income attributable to Hyatt Hotels Corporation (in dollars per share)	$ 2.80	$ 2.09	$ 4.17	$ 6.21

Earnings Per Share - Anti-dilut

Earnings Per Share - Anti-dilutive Shares Issued (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
SARs
Antidilutive Securities Excluded from Computation of Earnings Per Share
Antidilutive securities excluded from computation of earnings per share (in shares)	14,800	0	14,400	0

Other Income (Loss), Net (Detai

Other Income (Loss), Net (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Other Income and Expenses [Abstract]
Depreciation recovery	$ 7	$ 5	$ 19	$ 16
Interest income	6	7	18	19
Performance guarantee liability amortization (Note 13)	5	4	14	14
Unrealized gains (losses) (Note 4)	3	(15)	23	(21)
Release of contingent consideration liability (Note 6)	2	0	29	0
Release and amortization of debt repayment guarantee liability (Note 13)	1	2	18	8
Impairment of an equity security without a readily determinable fair value (Note 4)	0	0	0	(22)
Loss on extinguishment of debt (Note 10)	0	(7)	0	(7)
Performance guarantee expense (recovery), net	(1)	(6)	(25)	(41)
Other, net	2	1	8	12
Other income (loss), net	$ 25	$ (9)	$ 104	$ (22)

Uncategorized Items - hq393019.

Label	Element	Value	[1]
Restricted Cash and Cash Equivalents, Noncurrent	us-gaap_RestrictedCashAndCashEquivalentsNoncurrent	$ 20,000,000
Restricted Cash and Cash Equivalents, Noncurrent	us-gaap_RestrictedCashAndCashEquivalentsNoncurrent	$ 19,000,000
[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.