Hyatt Hotels (H) 10-Q 4 May 23 2023 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2023	Apr. 28, 2023
Document Information
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
Document Transition Report	false
Entity File Number	001-34521
Entity Registrant Name	HYATT HOTELS CORPORATION
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, $0.01 par value
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	2023
Document Fiscal Period Focus	Q1
Amendment Flag	false
Common Class A
Document Information
Entity Common Stock, Shares Outstanding		46,791,640
Common Class B
Document Information
Entity Common Stock, Shares Outstanding		58,917,749

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
REVENUES:
Total revenues	$ 1,680	$ 1,279
DIRECT AND SELLING, GENERAL, AND ADMINISTRATIVE EXPENSES:
Depreciation and amortization	98	119
Other direct costs	98	67
Selling, general, and administrative	161	111
Direct and selling, general, and administrative expenses	1,604	1,257
Net gains (losses) and interest income from marketable securities held to fund rabbi trusts	18	(31)
Equity earnings (losses) from unconsolidated hospitality ventures	(2)	(9)
Interest expense	(33)	(40)
Asset impairments	(2)	(3)
Other income (loss), net	48	(10)
INCOME (LOSS) BEFORE INCOME TAXES	105	(71)
PROVISION FOR INCOME TAXES	(47)	(2)
NET INCOME (LOSS)	58	(73)
NET INCOME (LOSS) ATTRIBUTABLE TO NONCONTROLLING INTERESTS	0	0
NET INCOME (LOSS) ATTRIBUTABLE TO HYATT HOTELS CORPORATION	$ 58	$ (73)
EARNINGS (LOSSES) PER SHARE—Basic
Net income (loss) (in dollars per share)	$ 0.55	$ (0.67)
Net income (loss) attributable to Hyatt Hotels Corporation (in dollars per share)	0.55	(0.67)
EARNINGS (LOSSES) PER SHARE—Diluted
Net income (loss) (in dollars per share)	0.53	(0.67)
Net income (loss) attributable to Hyatt Hotels Corporation (in dollars per share)	$ 0.53	$ (0.67)
Owned and leased hotels
REVENUES:
Total revenues	$ 314	$ 271
DIRECT AND SELLING, GENERAL, AND ADMINISTRATIVE EXPENSES:
Costs of goods and services sold	240	210
Net management, franchise, license, and other fees
REVENUES:
Total revenues	221	145
Management, franchise, license, and other fees
REVENUES:
Total revenues	231	154
Contra revenue
REVENUES:
Total revenues	(10)	(9)
Distribution and destination management
REVENUES:
Total revenues	328	246
DIRECT AND SELLING, GENERAL, AND ADMINISTRATIVE EXPENSES:
Costs of goods and services sold	258	194
Other revenues
REVENUES:
Total revenues	88	77
Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties
REVENUES:
Total revenues	729	540
Costs incurred on behalf of managed and franchised properties
DIRECT AND SELLING, GENERAL, AND ADMINISTRATIVE EXPENSES:
Costs of goods and services sold	$ 749	$ 556

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 58	$ (73)
Other comprehensive income (loss), net of taxes:
Foreign currency translation adjustments, net of tax of $— for the three months ended March 31, 2023 and March 31, 2022	15	21
Available-for-sale debt securities unrealized fair value adjustments, net of tax of $— for the three months ended March 31, 2023 and March 31, 2022	3	(7)
Derivative instrument adjustments, net of tax of $— for the three months ended March 31, 2023 and March 31, 2022	1	2
Pension liabilities adjustment, net of tax of $— for the three months ended March 31, 2023 and March 31, 2022	0	(2)
Other comprehensive income	19	14
COMPREHENSIVE INCOME (LOSS)	77	(59)
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO NONCONTROLLING INTERESTS	0	0
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO HYATT HOTELS CORPORATION	$ 77	$ (59)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - Parentheticals - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement of Comprehensive Income [Abstract]
Foreign currency translation adjustments, tax	$ 0	$ 0
Unrealized losses on available-for-sale debt securities, tax	0	0
Unrealized gains on derivative activity, tax	0	0
Unrecognized pension cost, tax	$ 0	$ 0

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Mar. 31, 2023		Dec. 31, 2022
CURRENT ASSETS:
Cash and cash equivalents	$ 948		$ 991
Restricted cash	20	[1],[2]	39
Short-term investments	103		158
Receivables, net of allowance of $63 at both March 31, 2023 and December 31, 2022	828		834
Inventories	10		9
Prepaids and other assets	205		180
Prepaid income taxes	36		39
Total current assets	2,150		2,250
Equity method investments	180		178
Property and equipment, net	2,371		2,384
Financing receivables, net of allowances of $43 and $44 at March 31, 2023 and December 31, 2022, respectively	58		60
Operating lease right-of-use assets	384		385
Goodwill	3,143		3,101
Intangibles, net	1,813		1,668
Deferred tax assets	276		257
Other assets	2,243		2,029
TOTAL ASSETS	12,618		12,312
CURRENT LIABILITIES:
Current maturities of long-term debt	648		660
Accounts payable	544		500
Accrued expenses and other current liabilities	475		415
Current contract liabilities	1,495		1,438
Accrued compensation and benefits	146		235
Current operating lease liabilities	39		39
Total current liabilities	3,347		3,287
Long-term debt	2,454		2,453
Long-term contract liabilities	1,572		1,495
Long-term operating lease liabilities	294		298
Other long-term liabilities	1,255		1,077
Total liabilities	8,922		8,610
Commitments and contingencies (see Note 12)
EQUITY:
Preferred stock, $0.01 par value per share, 10,000,000 shares authorized and none outstanding at both March 31, 2023 and December 31, 2022	0		0
Common stock	1		1
Additional paid-in capital	235		318
Retained earnings	3,680		3,622
Accumulated other comprehensive loss	(223)		(242)
Total stockholders' equity	3,693		3,699
Noncontrolling interests in consolidated subsidiaries	3		3
Total equity	3,696		3,702
TOTAL LIABILITIES AND EQUITY	$ 12,618		$ 12,312
[1](1) Restricted cash generally represents debt service on bonds, escrow deposits, and other arrangements.[2](1) Restricted cash generally represents debt service on bonds, escrow deposits, and other arrangements.

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS - Parentheticals - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Allowance for doubtful accounts receivable, current	$ 63	$ 63
Financing receivable, allowance for credit loss	$ 43	$ 44
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 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)	46,844,698	47,482,787
Common stock, shares, issued (in shares)	46,844,698	47,482,787
Common Class B
Common stock, par value per share (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	390,912,161	390,912,161
Common stock, shares, outstanding (in shares)	58,917,749	58,917,749
Common stock, shares, issued (in shares)	58,917,749	58,917,749

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2023	Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)		$ 58	$ (73)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization		98	119
Amortization of share awards		31	31
Amortization of operating lease right-of-use assets		9	9
Deferred income taxes		(19)	0
Asset impairments		2	3
Equity (earnings) losses from unconsolidated hospitality ventures		2	9
Contra revenue		10	9
Unrealized (gains) losses, net		(43)	10
Working capital changes and other		77	63
Net cash provided by operating activities		225	180
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of marketable securities and short-term investments		(35)	(195)
Proceeds from marketable securities and short-term investments		86	163
Contributions to equity method and other investments		(31)	(3)
Acquisitions		(125)	(39)
Capital expenditures		(30)	(43)
Issuance of financing receivables		(13)	(1)
Other investing activities		(1)	8
Net cash used in investing activities		(149)	(110)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments and repurchases of debt		(14)	(1)
Repurchases of common stock		(106)	0
Other financing activities		(13)	(13)
Net cash used in financing activities		(133)	(14)
EFFECT OF EXCHANGE RATE CHANGES ON CASH		(4)	5
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, INCLUDING CASH, CASH EQUIVALENTS, AND RESTRICTED CASH CLASSIFIED WITHIN CURRENT ASSETS HELD FOR SALE		(61)	61
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH RECLASSIFIED TO ASSETS HELD FOR SALE		0	(7)
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH		(61)	54
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH—BEGINNING OF YEAR		1,067	1,065
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH—END OF PERIOD		1,006	1,119
Supplemental disclosure of cash flow information:
Cash and cash equivalents		948	1,023
Restricted cash	[1],[2]	20	47
Restricted cash included in other assets	[1],[2]	38	49
Total cash, cash equivalents, and restricted cash		1,006	1,119
Cash paid during the period for interest		19	30
Cash paid during the period for income taxes		16	8
Cash paid for amounts included in the measurement of operating lease liabilities		11	11
Non-cash investing and financing activities are as follows:
Change in accrued capital expenditures		4	13
Non-cash repurchases of common stock (see Note 13)		8	0
Non-cash right-of-use assets obtained in exchange for operating lease liabilities		4	1
Non-cash redemption of financing receivable		20	0
Non-cash contingent consideration liability assumed in acquisition (see Note 6)		$ 107	$ 0
[1](1) Restricted cash generally represents debt service on bonds, escrow deposits, and other arrangements.[2](1) Restricted cash generally represents debt service on bonds, escrow deposits, and other arrangements.

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($)		Total	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Noncontrolling Interests in Consolidated Subsidiaries	Common Class A	Common Class A Common Stock Amount	Common Class B	Common Class B Common Stock Amount
Common stock, shares, beginning balance (in shares) at Dec. 31, 2021								50,322,050		59,653,271
Balance, beginning of period at Dec. 31, 2021		$ 3,566,000,000	$ 640,000,000	$ 3,167,000,000	$ (245,000,000)	$ 3,000,000		$ 1,000,000		$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Total comprehensive Income (loss)		(59,000,000)		(73,000,000)	14,000,000
Repurchases of common stock		0
Employee stock plan issuance (in shares)								12,221
Employee stock plan issuance		1,000,000	1,000,000
Class share conversions (in shares)							635,522	635,522	(635,522)	(635,522)
Share-based payment activity (in shares)								303,355
Share-based payment activity		16,000,000	16,000,000
Common stock, shares, ending balance (in shares) at Mar. 31, 2022								51,273,148		59,017,749
Balance, end of period at Mar. 31, 2022		3,524,000,000	657,000,000	3,094,000,000	(231,000,000)	3,000,000		$ 1,000,000		$ 0
Common stock, shares, beginning balance (in shares) at Dec. 31, 2022							47,482,787	47,482,787	58,917,749	58,917,749
Balance, beginning of period at Dec. 31, 2022		3,702,000,000	318,000,000	3,622,000,000	(242,000,000)	3,000,000		$ 1,000,000		$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Total comprehensive Income (loss)		77,000,000		58,000,000	19,000,000
Repurchases of common stock (in shares)	[1]							(1,018,931)
Repurchases of common stock	[1]	(98,000,000)	(98,000,000)
Liability for repurchases of common stock	[2]	(8,000,000)	(8,000,000)
Employee stock plan issuance (in shares)								13,925
Employee stock plan issuance		1,000,000	1,000,000
Share-based payment activity (in shares)								366,917
Share-based payment activity		22,000,000	22,000,000
Common stock, shares, ending balance (in shares) at Mar. 31, 2023							46,844,698	46,844,698	58,917,749	58,917,749
Balance, end of period at Mar. 31, 2023		$ 3,696,000,000	$ 235,000,000	$ 3,680,000,000	$ (223,000,000)	$ 3,000,000		$ 1,000,000		$ 0
[1](1) Includes a $1 million liability for the 1% U.S. federal excise tax on certain share repurchases enacted by the Inflation Reduction Act of 2022.[2] (2) Represents repurchases of 73,368 shares for $8 million that were initiated prior to March 31, 2023 , but settled in the second quarter of 2023. At March 31, 2023 , the shares were included in shares outstanding and the liability was recorded in accrued expenses and other current liabilities on our condensed consolidated balance sheet.

CONDENSED CONSOLIDATED STATEM_6

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - Parenthetical $ in Millions	3 Months Ended
	Mar. 31, 2023 USD ($) shares
Statement of Stockholders' Equity [Abstract]
Excise tax payable	$ 1
Shares repurchased and not settled yet (Shares) | shares	73,368
Non-cash repurchases of common stock (see Note 13)	$ 8

ORGANIZATION

ORGANIZATION	3 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION	ORGANIZATION Hyatt Hotels Corporation, a Delaware corporation, and its consolidated subsidiaries have offerings that consist of full service hotels and resorts, select service hotels, all-inclusive resorts, and other properties, including timeshare, fractional, and other forms of residential, vacation, and condominium units. We also offer travel distribution and destination management services through ALG Vacations and a paid membership program through the Unlimited Vacation Club. A t March 31, 2023, our hotel portfolio included 596 full service hotels, comprising 186,380 rooms throughout the world; 569 select service hotels, comprising 83,438 rooms, of which 448 hotels are located in the United States; and 114 all-inclusive resorts, comprising 36,676 rooms. At March 31, 2023, our portfolio of properties operated in 75 c ountries 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 operate under other tradenames or marks owned by such hotels or licensed by third parties. Unless otherwise specified or required by the context, references in this Quarterly Report on Form 10-Q to "Hyatt," the "Company," "we," "us," or "our" mean Hyatt Hotels Corporation and its consolidated subsidiaries. As used in these Notes and throughout this Quarterly Report on Form 10-Q: • "condominium units" refer to whole ownership residential units (condominium and private residences) that we provide services to and, in some cases, manage the rental programs and/or homeowner associations associated with such units; • "hospitality ventures" refers to entities in which we own less than a 100% equity interest; • "hotel portfolio" refers to our full service hotels, including our wellness resorts, our select service hotels, and our all-inclusive resorts; • "loyalty program" refers to the World of Hyatt guest loyalty program that is operated for the benefit of participating properties and generates substantial repeat guest business by rewarding frequent stays with points that can be redeemed for hotel nights and other valuable rewards; • "properties," "portfolio of properties," or "property portfolio" refer to our hotel portfolio and residential, vacation, and condominium units that we operate, manage, franchise, own, lease, develop, license, or to which we provide services or license our trademarks, including under the Park Hyatt, Grand Hyatt, Hyatt Regency, Hyatt, Hyatt Residence Club, Hyatt Place, Hyatt House, Hyatt Studios, UrCove, Miraval, Alila, Andaz, Thompson Hotels, Dream Hotels, Hyatt Centric, Caption by Hyatt, The Unbound Collection by Hyatt, Destination by Hyatt, JdV by Hyatt, Hyatt Ziva, Hyatt Zilara, Zoëtry Wellness & Spa Resorts, Secrets Resorts & Spas, Breathless Resorts & Spas, Dreams Resorts & Spas, Hyatt Vivid Hotels & Resorts, Alua Hotels & Resorts, and Sunscape Resorts & Spas brands; • "residential units" refer to residential units that we manage, own, or to which we provide services or license our trademarks (such as serviced apartments and Hyatt-branded residential units) that are typically part of a mixed-use project and located either adjacent to or near a full service hotel that is a member of our portfolio of properties or in unique leisure locations; and • "vacation units" refer to the fractional and timeshare vacation properties with respect to which we license our trademarks and that are part of the Hyatt Residence Club. 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, 2022 (the "2022 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	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS	RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS Future Adoption of Accounting Standards Reference Rate Reform —In March 2020, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update No. 2020-04 ("ASU 2020-04"), Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting . ASU 2020-04 provides optional expedients and exceptions that we can elect to adopt, subject to meeting certain criteria, regarding contract modifications, hedging relationships, and other transactions that reference the London Interbank Offered Rate or another reference rate expected to be discontinued because of reference rate reform. In December 2022, the FASB issued Accounting Standards Update No. 2022-06 ("ASU 2022-06"), Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848 . ASU 2022-06 was effective upon issuance and defers the sunset date of Topic 848 by two years, extending the provisions of ASU 2020-04 through December 31, 2024. We are currently assessing the impact of adopting ASU 2020-04.

REVENUE FROM CONTRACTS WITH CUS

REVENUE FROM CONTRACTS WITH CUSTOMERS	3 Months Ended
	Mar. 31, 2023
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 March 31, 2023 Owned and leased hotels Americas management and franchising ASPAC management and franchising EAME management and franchising Apple Leisure Group Corporate and other Eliminations Total Rooms revenues $ 198 $ — $ — $ — $ — $ — $ (8) $ 190 Food and beverage 85 — — — — — — 85 Other 39 — — — — — — 39 Owned and leased hotels 322 — — — — — (8) 314 Base management fees — 62 16 7 15 — (9) 91 Incentive management fees — 20 18 8 16 — (5) 57 Franchise, license, and other fees — 51 4 4 8 16 — 83 Management, franchise, license, and other fees — 133 38 19 39 16 (14) 231 Contra revenue — (6) (1) (3) — — — (10) Net management, franchise, license, and other fees — 127 37 16 39 16 (14) 221 Distribution and destination management — — — — 328 — — 328 Other revenues — 41 — — 41 6 — 88 Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties — 640 35 22 32 — — 729 Total $ 322 $ 808 $ 72 $ 38 $ 440 $ 22 $ (22) $ 1,680 Three Months Ended March 31, 2022 Owned and leased hotels Americas management and franchising ASPAC management and franchising (1) EAME management and franchising (1) Apple Leisure Group Corporate and other Eliminations Total Rooms revenues $ 167 $ — $ — $ — $ — $ — $ (6) $ 161 Food and beverage 69 — — — — — — 69 Other 41 — — — — — — 41 Owned and leased hotels 277 — — — — — (6) 271 Base management fees — 46 8 6 8 — (8) 60 Incentive management fees — 12 5 6 19 — (2) 40 Franchise, license, and other fees — 37 3 1 3 10 — 54 Management, franchise, license, and other fees — 95 16 13 30 10 (10) 154 Contra revenue — (6) (1) (2) — — — (9) Net management, franchise, license, and other fees — 89 15 11 30 10 (10) 145 Distribution and destination management — — — — 246 — — 246 Other revenues — 38 — — 34 4 1 77 Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties — 461 32 18 29 — — 540 Total $ 277 $ 588 $ 47 $ 29 $ 339 $ 14 $ (15) $ 1,279 (1) Amounts presented have been adjusted for changes within the segments effective on January 1, 2023 (see Note 16). Contract Balances Our contract assets, included in receivables, net on our condensed consolidated balance sheets, were $3 million and insignificant at March 31, 2023 and December 31, 2022, respectively. As our profitability hurdles are generally calculated on a full-year basis, we expect our contract assets to be insignificant at year end. Contract liabilities were comprised of the following: March 31, 2023 December 31, 2022 Deferred revenue related to the paid membership program $ 1,071 $ 1,013 Deferred revenue related to the loyalty program 1,010 928 Deferred revenue related to travel distribution and destination management services 729 732 Deferred revenue related to insurance programs 59 66 Advanced deposits 54 61 Initial fees received from franchise owners 45 45 Other deferred revenue 99 88 Total contract liabilities $ 3,067 $ 2,933 Revenue recognized during the three months ended March 31, 2023 and March 31, 2022 included in the contract liabilities balance at the beginning of each year was $654 million and $501 million, respectively. This revenue primarily relates to travel distribution and destination management services, the loyalty program, and the Unlimited Vacation Club paid membership program. 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 $500 million at March 31, 2023, approximately 20% of which we expect to recognize over the next 12 months, with the remainder to be recognized thereafter.

DEBT AND EQUITY SECURITIES

DEBT AND EQUITY SECURITIES	3 Months Ended
	Mar. 31, 2023
Investments, Debt and Equity Securities [Abstract]
DEBT AND EQUITY SECURITIES	DEBT AND EQUITY SECURITIES We invest in debt and equity securities that we believe are strategically and operationally important to our business. These investments take the form of (i) equity method investments where we have the ability to significantly influence the operations of the entity, (ii) marketable securities held to fund operating programs and for investment purposes, and (iii) other types of investments. Equity Method Investments Equity method investments were $180 million and $178 million at March 31, 2023 and December 31, 2022, respectively. Marketable Securities We hold marketable securities with readily determinable fair values to fund certain operating programs and for investment purposes. 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 on our condensed consolidated balance sheets, were as follows: March 31, 2023 December 31, 2022 Loyalty program (Note 8) $ 756 $ 728 Deferred compensation plans held in rabbi trusts (Note 8 and Note 10) 450 420 Captive insurance company (Note 8) 125 110 Total marketable securities held to fund operating programs $ 1,331 $ 1,258 Less: current portion of marketable securities held to fund operating programs included in cash and cash equivalents and short-term investments (370) (339) Marketable securities held to fund operating programs included in other assets $ 961 $ 919 At March 31, 2023 and December 31, 2022, marketable securities held to fund operating programs included: • $188 million and $174 million, respectively, of available-for-sale ("AFS") debt securities with contractual maturity dates ranging from 2023 through 2069. The amortized cost of our AFS debt securities approximates fair value; • $83 million and $138 million, respectively, of time deposits classified as held-to-maturity ("HTM") debt securities with contractual maturity dates ranging from 2023 through 2026. The amortized cost of our time deposits approximates fair value; • $63 million and $62 million, respectively, of equity securities with a readily determinable fair value. Net unrealized and realized gains (losses) from marketable securities held to fund operating programs recognized on our condensed consolidated financial statements were as follows: Three Months Ended March 31, 2023 2022 Unrealized gains (losses), net Net gains (losses) and interest income from marketable securities held to fund rabbi trusts (1) $ 17 $ (32) Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties (1) 9 (15) Other income (loss), net (Note 18) 6 (18) Other comprehensive income (loss) (Note 13) 3 (7) Realized gains, net Net gains (losses) and interest income from marketable securities held to fund rabbi trusts (1) $ 1 $ 1 (1) The impact from our investments in marketable securities held to fund our deferred compensation plans through rabbi trusts was recognized on the following financial statement line items and had no impact on net income (loss): revenues for the reimbursement of costs incurred on behalf of managed and franchised properties; owned and leased hotels expenses; selling, general, and administrative expenses; costs incurred on behalf of managed and franchised properties; and net gains (losses) and interest income from marketable securities held to fund rabbi trusts. Marketable Securities Held for Investment Purposes —Marketable securities held for investment purposes, which are recorded at cost or fair value, depending on the nature of the investment, on our condensed consolidated balance sheets, were as follows: March 31, 2023 December 31, 2022 Interest-bearing money market funds $ 256 $ 430 Common shares in Playa N.V. (Note 8) 116 79 Time deposits (1) 12 10 Total marketable securities held for investment purposes $ 384 $ 519 Less: current portion of marketable securities held for investment purposes included in cash and cash equivalents and short-term investments (268) (440) Marketable securities held for investment purposes included in other assets $ 116 $ 79 (1) Time deposits have contractual maturity dates in 2023. The amortized cost of our time deposits approximates fair value. We hold common shares in 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. We did not sell any shares of common stock during the three months ended March 31, 2023 or March 31, 2022. Net unrealized gains recognized on our condensed consolidated statements of income (loss) were as follows: Three Months Ended March 31, 2023 2022 Other income (loss), net (Note 18) $ 37 $ 8 Fair Value —We measure marketable securities at fair value on a recurring basis: March 31, 2023 Cash and cash equivalents Short-term investments Other assets Level One - Quoted Prices in Active Markets for Identical Assets Interest-bearing money market funds $ 534 $ 534 $ — $ — Mutual funds 513 — — 513 Common shares in Playa N.V. 116 — — 116 Level Two - Significant Other Observable Inputs Time deposits 95 1 92 2 U.S. government obligations 236 — 1 235 U.S. government agencies 57 — 9 48 Corporate debt securities 117 — 1 116 Mortgage-backed securities 20 — — 20 Asset-backed securities 22 — — 22 Municipal and provincial notes and bonds 5 — — 5 Total $ 1,715 $ 535 $ 103 $ 1,077 December 31, 2022 Cash and cash equivalents Short-term investments Other assets Level One - Quoted Prices in Active Markets for Identical Assets Interest-bearing money market funds $ 620 $ 620 $ — $ — Mutual funds 482 — — 482 Common shares in Playa N.V. 79 — — 79 Level Two - Significant Other Observable Inputs Time deposits 148 1 145 2 U.S. government obligations 237 — 3 234 U.S. government agencies 55 — 8 47 Corporate debt securities 109 — 2 107 Mortgage-backed securities 21 — — 21 Asset-backed securities 21 — — 21 Municipal and provincial notes and bonds 5 — — 5 Total $ 1,777 $ 621 $ 158 $ 998 During the three months ended March 31, 2023 and March 31, 2022, there were no transfers between levels of the fair value hierarchy. We do not have nonfinancial assets or nonfinancial liabilities required to be measured at fair value on a recurring basis. Other Investments HTM Debt Securities —We hold investments in third-party entities associated with certain of our hotels. The investments are redeemable on various dates through 2062 and recorded as HTM debt securities within other assets on our condensed consolidated balance sheets: March 31, 2023 December 31, 2022 HTM debt securities $ 98 $ 96 Less: allowance for credit losses (32) (31) Total HTM debt securities, net of allowances $ 66 $ 65 The following table summarizes the activity in our HTM debt securities allowance for credit losses: 2023 2022 Allowance at January 1 $ 31 $ 38 Provisions, net (1) 1 1 Allowance at March 31 $ 32 $ 39 (1) Provisions for credit losses were partially or fully offset by interest income recognized in the same periods (see Note 18). We estimated the fair value of these HTM debt securities to be approximately $84 million and $81 million at March 31, 2023 and December 31, 2022, respectively. The fair values of our investments in preferred shares, which are classified as Level Three in the fair value hierarchy, are estimated using internally-developed discounted cash flow models based on current market inputs for similar types of arrangements. The primary sensitivity in these models is the selection of appropriate discount rates. Fluctuations in these assumptions could result in different estimates of fair value. The remaining HTM debt securities are classified as Level Two in the fair value hierarchy due to the use and weighting of multiple market inputs being considered in the final price of the security. Convertible Debt Security —During the three months ended March 31, 2023, we invested in a $30 million convertible debt security associated with a franchised property, which is classified as AFS and recorded within other assets on our condensed consolidated balance sheet. The investment has a contractual maturity date in 2029. At March 31, 2023, the amortized cost of our convertible debt investment approximates fair value. Based on the lack of available market data, we have classified the investment as Level Three in the fair value hierarchy. During the three months ended March 31, 2023, there were no unrealized or realized gains or losses recognized on our investment. Equity Securities Without a Readily Determinable Fair Value —At both March 31, 2023 and December 31, 2022, we held $12 million

RECEIVABLES

RECEIVABLES	3 Months Ended
	Mar. 31, 2023
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
RECEIVABLES	RECEIVABLES Receivables At March 31, 2023 and December 31, 2022, we had $828 million and $834 million of net receivables, respectively, recorded on our condensed consolidated balance sheets. The following table summarizes the activity in our receivables allowance for credit losses: 2023 2022 Allowance at January 1 $ 63 $ 53 Provisions, net 3 7 Write-offs (3) (4) Allowance at March 31 $ 63 $ 56 Financing Receivables March 31, 2023 December 31, 2022 Unsecured financing to hotel owners $ 111 $ 120 Less: current portion of financing receivables, included in receivables, net (10) (16) Less: allowance for credit losses (43) (44) Total long-term financing receivables, net of allowances $ 58 $ 60 Allowance for Credit Losses— The following table summarizes the activity in our unsecured financing receivables allowance for credit losses: 2023 2022 Allowance at January 1 $ 44 $ 69 Provisions (reversals), net (1) — Foreign currency exchange, net — 3 Allowance at March 31 $ 43 $ 72 Credit Monitoring— Our unsecured financing receivables were as follows: March 31, 2023 Gross loan balance (principal and interest) Related allowance Net financing receivables Gross receivables on nonaccrual status Loans $ 109 $ (42) $ 67 $ 22 Other financing arrangements 2 (1) 1 — Total unsecured financing receivables $ 111 $ (43) $ 68 $ 22 December 31, 2022 Gross loan balance (principal and interest) Related allowance Net financing receivables Gross receivables on nonaccrual status Loans $ 118 $ (43) $ 75 $ 22 Other financing arrangements 2 (1) 1 1 Total unsecured financing receivables $ 120 $ (44) $ 76 $ 23 Fair Value— We estimated the fair value of financing receivables to be approximately $110 million and $117 million at March 31, 2023 and December 31, 2022, respectively. The fair values, which are classified as Level Three in the fair value hierarchy, are estimated using discounted future cash flow models. The principal inputs used are projected future cash flows and the discount rate, which is generally the effective interest rate of the loan.

ACQUISITION

ACQUISITION	3 Months Ended
	Mar. 31, 2023
Business Combination and Asset Acquisition [Abstract]
ACQUISITION	ACQUISITION Dream Hotel Group —During the three months ended March 31, 2023, a Hyatt affiliate acquired 100% of the limited liability company interests of each of Chatwal Hotels & Resorts, LLC, DHG Manager, LLC, and each of the subsidiaries of DHG Manager, LLC (collectively, "Dream Hotel Group") for $125 million of base consideration, subject to customary adjustments related to working capital and indebtedness, and up to an additional $175 million of contingent consideration through 2028 upon the achievement of certain milestones related to the development of additional hotels and/or potential new hotels previously identified by the sellers (the "Dream Acquisition"). We closed on the transaction on February 2, 2023 and paid $125 million of cash. Upon acquisition, we recorded a $107 million contingent consideration liability at fair value in other long-term liabilities on our condensed consolidated balance sheet (see Note 10). The fair value was estimated using a Monte Carlo simulation to model the likelihood of achieving the agreed-upon milestones based on available information as of the acquisition date. The valuation methodology includes assumptions and judgments regarding the discount rate, estimated probability of achieving the milestones, and expected timing of payments, which are primarily Level Three assumptions. The contingent consideration liability will be remeasured at fair value on a quarterly basis. Net assets acquired were determined as follows: Cash paid $ 125 Fair value of contingent consideration 107 Net assets acquired $ 232 The acquisition includes management and license agreements for both operating and additional hotels that are expected to open in the future, primarily across North America, and the affiliated trade names for three lifestyle hotel brands. Following the acquisition date, the operating results of Dream Hotel Group were recognized in our condensed consolidated statements of income (loss) and were insignificant for the period from the acquisition date through March 31, 2023. Our condensed consolidated balance sheet at March 31, 2023 reflects preliminary estimates of the fair value of the assets acquired and liabilities assumed based on available information as of the acquisition date. The fair values of intangible assets acquired are estimated using either discounted future cash flow models or the relief from royalty method, both of which include revenue projections based on the expected contract terms and long-term growth rates, which are primarily Level Three assumptions. The remaining assets and liabilities were recorded at their carrying values, which approximate their fair values. We will continue to evaluate the contracts acquired and the underlying inputs and assumptions used in our valuation of assets acquired and liabilities assumed. Accordingly, these estimates, along with any related tax impacts, are subject to change during the measurement period, which is up to one year from the date of acquisition. The following table summarizes the preliminary fair value of the identifiable net assets acquired at the acquisition date: Receivables $ 1 Goodwill (1) 41 Indefinite-lived intangibles (2) 33 Management agreement intangibles (3) 158 Total assets acquired $ 233 Long-term contract liabilities $ 1 Total liabilities assumed $ 1 Total net assets acquired attributable to Hyatt Hotels Corporation $ 232 ( 1) The goodwill, which is tax deductible and recorded on the Americas management and franchising segment, is attributable to the growth opportunities we expect to realize by expanding our lifestyle offerings and providing global travelers with an increased number of elevated hospitality experiences. (2) Includes intangible assets related to the Dream Hotels, The Chatwal, and Unscripted Hotels brand names. (3) Amortized over useful lives of approximately 9 to 22 years, with a weighted-average useful life of approximately 17 years. We recognized $7 million of transaction costs, primarily related to regulatory, financial advisory, and legal fees, in other income (loss), net on our condensed consolidated statements of income (loss) during the three months ended March 31, 2023 (see Note 18).

INTANGIBLES, NET

INTANGIBLES, NET	3 Months Ended
	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLES, NET	INTANGIBLES, NET March 31, 2023 Weighted- average useful lives in years Gross carrying value Accumulated amortization Net carrying value Management and franchise agreement intangibles 15 $ 937 $ (198) $ 739 Brand and other indefinite-lived intangibles — 626 — 626 Customer relationships intangibles 8 608 (169) 439 Other intangibles 5 22 (13) 9 Total $ 2,193 $ (380) $ 1,813 December 31, 2022 Gross carrying value Accumulated amortization Net carrying value Management and franchise agreement intangibles $ 786 $ (184) $ 602 Brand and other indefinite-lived intangibles 593 — 593 Customer relationships intangibles 608 (145) 463 Other intangibles 22 (12) 10 Total $ 2,009 $ (341) $ 1,668 Three Months Ended March 31, 2023 2022 Amortization expense $ 44 $ 60

OTHER ASSETS

OTHER ASSETS	3 Months Ended
	Mar. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
OTHER ASSETS	OTHER ASSETS March 31, 2023 December 31, 2022 Management and franchise agreement assets constituting payments to customers (1) $ 781 $ 699 Marketable securities held to fund rabbi trusts (Note 4) 450 420 Marketable securities held to fund the loyalty program (Note 4) 418 406 Deferred costs related to the paid membership program 129 106 Common shares in Playa N.V. (Note 4) 116 79 Long-term investments (Note 4) 108 77 Marketable securities held for captive insurance company (Note 4) 93 93 Long-term restricted cash 38 37 Other 110 112 Total other assets $ 2,243 $ 2,029 (1) Includes cash consideration as well as other forms of consideration provided, such as debt repayment or performance guarantees.

DEBT

DEBT	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
DEBT	DEBT At March 31, 2023 and December 31, 2022, we had $3,102 million and $3,113 million, respectively, of total debt, which included $648 million and $660 million, respectively, recorded in current maturities of long-term debt on our condensed consolidated balance sheets. Senior Notes Repurchases —During the three months ended March 31, 2023, we repurchased $13 million of our senior notes due 2023 in the open market. Revolving Credit Facility —During the three months ended March 31, 2023 and March 31, 2022, we had no borrowings or repayments on our revolving credit facility in effect for each of the respective periods. At both March 31, 2023 and December 31, 2022, we had no balance outstanding. At March 31, 2023, we had $1,496 million of borrowing capacity available under our revolving credit facility, net of letters of credit outstanding. Fair Value —We estimated the fair value of debt, excluding finance leases, which consists of the notes below (collectively, the "Senior Notes") and other long-term debt. • $700 million of 1.300% senior notes due 2023 • $750 million of 1.800% senior notes due 2024 • $450 million of 5.375% senior notes due 2025 • $400 million of 4.850% senior notes due 2026 • $400 million of 4.375% senior notes due 2028 • $450 million of 5.750% senior notes due 2030 Our Senior Notes 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 on the lack of available market data, we have classified our revolving credit facility, as applicable, and other debt instruments as Level Three. The primary sensitivity in these models is based on the selection of appropriate discount rates. Fluctuations in our assumptions will result in different estimates of fair value. March 31, 2023 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) $ 3,109 $ 3,048 $ — $ 3,017 $ 31 (1) Excludes $6 million of finance lease obligations and $13 million of unamortized discounts and deferred financing fees. December 31, 2022 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) $ 3,121 $ 3,006 $ — $ 2,976 $ 30 (2) Excludes $7 million of finance lease obligations and $15 million of unamortized discounts and deferred financing fees.

OTHER LONG-TERM LIABILITIES

OTHER LONG-TERM LIABILITIES	3 Months Ended
	Mar. 31, 2023
Other Liabilities [Abstract]
OTHER LONG-TERM LIABILITIES	OTHER LONG-TERM LIABILITIES March 31, 2023 December 31, 2022 Deferred compensation plans funded by rabbi trusts (Note 4) $ 450 $ 420 Income taxes payable 373 339 Guarantee liabilities (Note 12) 130 124 Contingent consideration liability (Note 6) 107 — Deferred income taxes (Note 11) 73 72 Self-insurance liabilities (Note 12) 68 68 Other 54 54 Total other long-term liabilities $ 1,255 $ 1,077

INCOME TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2023
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The provision for income taxes for the three months ended March 31, 2023 and March 31, 2022 was $47 million and $2 million, respectively. The increase in our provision for income taxes for the three months ended March 31, 2023, compared to the three months ended March 31, 2022, was primarily due to an increase in earnings and uncertain tax position activity recognized in 2023 related to foreign tax filing positions. At each reporting date, management considers all evidence, both positive and negative, that could affect its assessment of the future realization of deferred tax assets. At March 31, 2023, we earned out of a three-year cumulative loss position in the U.S. As a result, management determined there is sufficient, objectively verifiable evidence that we will generate sufficient future income in the U.S. to support the realization of our U.S. interest deduction carryforwards, and therefore, we released a significant portion of our valuation allowance and recognized a $9 million benefit during the three months ended March 31, 2023. We are subject to audits by federal, state, and foreign tax authorities. U.S. tax years 2018 through 2020 are currently under field exam. U.S. tax years 2009 through 2011 are before the U.S. Tax Court concerning the tax treatment of the loyalty program. The U.S. Tax Court trial proceedings occurred during April 2022 and the trial outcome is pending, subject to the U.S. Tax Court Judge's ruling. During the year ended December 31, 2021, we received a Notice of Proposed Adjustment for tax years 2015 through 2017 related to the loyalty program issue. As a result, U.S. tax years 2009 through 2017 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 $239 million (including $81 million of estimated interest, net of federal tax benefit) for all assessed years. As future tax benefits will be recognized at the reduced U.S. corporate income tax rate, $92 million of the tax 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. At March 31, 2023 and December 31, 2022, total unrecognized tax benefits recorded in other long-term liabilities on our condensed consolidated balance sheets were $278 million and $253 million, respectively, of which $114 million and $102 million, respectively, would impact the effective tax rate if recognized. While it is reasonably possible that the amount of uncertain tax benefits associated with the U.S. treatment of the loyalty program could significantly change within the next 12 months, at this time, we are not able to estimate the range by which the reasonably possible outcomes of the pending litigation could impact our uncertain tax benefits within the next 12 months.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES In the ordinary course of business, we enter into various commitments, guarantees, surety and other bonds, and letter of credit agreements. Commitments —At March 31, 2023, we are committed, under certain conditions, to lend, provide certain consideration to, or invest in various business ventures up to $386 million, net of any related letters of credit. 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. Except as described below, at March 31, 2023, our performance guarantees had $119 million of remaining maximum exposure and expire between 2023 and 2042. Through acquisitions, we acquired certain management agreements with performance guarantees expiring between 2023 and 2045. The performance guarantees are based on annual performance levels. Contract terms within certain management agreements limit our exposure, and therefore, we are unable to reasonably estimate our maximum potential future payments. At March 31, 2023 and December 31, 2022, we had $109 million and $108 million, respectively, of total performance guarantee liabilities, which included $94 million and $96 million, respectively, recorded in other long-term liabilities and $15 million and $12 million, respectively, recorded in accrued expenses and other current liabilities on our condensed consolidated balance sheets. 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 both March 31, 2023 and December 31, 2022, we had an insignificant amount recorded in accrued expenses and other current liabilities on our condensed consolidated balance sheets related to these performance cure payments. Debt Repayment Guarantees —We enter into various debt repayment guarantees in order to assist third-party owners, franchisees, and unconsolidated hospitality ventures in obtaining third-party financing or to obtain more favorable borrowing terms. Geographical region Maximum potential future payments (1) Maximum exposure net of recoverability from third parties (1) Other long-term liabilities recorded at March 31, 2023 Other long-term liabilities recorded at December 31, 2022 Year of guarantee expiration United States (2), (3) $ 110 $ 39 $ 6 $ 3 various, through 2027 All foreign (2), (4) 200 180 30 25 various, through 2031 Total $ 310 $ 219 $ 36 $ 28 (1) Our maximum exposure is generally based on a specified percentage of the total principal due upon borrower default. (2) We have agreements with our unconsolidated hospitality venture partners or the respective third-party owners or franchisees to recover certain amounts funded under the debt repayment guarantee; the recoverability mechanism may be in the form of cash or HTM debt security. (3) Certain agreements give us the ability to assume control of the property if defined funding thresholds are met or if certain events occur. (4) Under certain debt repayment guarantees associated with hotel properties in India, we have the contractual right to recover amounts funded from an unconsolidated hospitality venture, which is a related party, and therefore, we expect our maximum exposure for these guarantees to be approximately $84 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. At March 31, 2023, we are not aware, nor have we received any notification, that our unconsolidated hospitality ventures, third-party owners, or franchisees 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 approximately $137 million and $124 million at March 31, 2023 and December 31, 2022, respectively. Based on 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 from general liability, property, automobile, workers' compensation, employment practices liability, crime, cyber, and other miscellaneous risks. A portion of the risk is retained through a U.S.-based and licensed captive insurance company that is a wholly owned subsidiary of Hyatt and generally insures our deductibles and retentions. Reserve requirements are established based on actuarial projections of ultimate losses. Reserves for losses in our captive insurance company to be paid within 12 months are $39 million at both March 31, 2023 and December 31, 2022 and are recorded in accrued expenses and other current liabilities on our condensed consolidated balance sheets. Reserves for losses in our captive insurance company to be paid in future periods are $68 million at both March 31, 2023 and December 31, 2022 and are recorded in other long-term liabilities on our condensed consolidated balance sheets (see Note 10). Collective Bargaining Agreements —At March 31, 2023, approximately 21% 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 various unions and us. Generally, labor relations have been maintained in a normal and satisfactory manner, and we believe our employee relations are good. Surety and Other Bonds —Surety and other bonds issued on our behalf were $47 million at March 31, 2023 and primarily relate to our insurance programs, taxes, licenses, construction liens, and utilities for our lodging operations. Letters of Credit —Letters of credit outstanding on our behalf at March 31, 2023 were $267 million, which primarily relate to our ongoing operations, collateral for customer deposits associated with ALG Vacations, collateral for estimated insurance claims, and securitization of our performance under certain debt repayment guarantees, which are only called on if the borrower defaults on its obligations or we default on our guarantees. Of the letters of credit outstanding, $4 million reduces the available capacity under our revolving credit facility (see Note 9). Capital Expenditures —As part of our ongoing business operations, 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 and certain managed or franchised hotels, 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 or the respective third-party hotel owners or franchisees. 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,

EQUITY

EQUITY	3 Months Ended
	Mar. 31, 2023
Equity [Abstract]
EQUITY	EQUITY Accumulated Other Comprehensive Loss The components of accumulated other comprehensive loss, net of insignificant tax impacts, were as follows: Balance at Current period other comprehensive income (loss) before reclassification Amount reclassified from accumulated other comprehensive loss Balance at March 31, 2023 Foreign currency translation adjustments $ (202) $ 15 $ — $ (187) AFS debt securities unrealized fair value adjustments (11) 3 — (8) Derivative instrument adjustments (1) (29) — 1 (28) Accumulated other comprehensive loss $ (242) $ 18 $ 1 $ (223) (1) The amount reclassified from accumulated other comprehensive loss included realized losses recognized in interest expense related to the settlement of interest rate locks. We expect to reclassify $6 million of losses over the next 12 months. Balance at Current period other comprehensive income (loss) before reclassification Amount reclassified from accumulated other comprehensive loss Balance at March 31, 2022 Foreign currency translation adjustments $ (206) $ 21 $ — $ (185) AFS debt securities unrealized fair value adjustments (1) (7) — (8) Pension liabilities adjustment (4) (1) (1) (6) Derivative instrument adjustments (2) (34) — 2 (32) Accumulated other comprehensive loss $ (245) $ 13 $ 1 $ (231) (2) The amount reclassified from accumulated other comprehensive loss included realized losses recognized in interest expense related to the settlement of interest rate locks. Share Repurchases —During 2019, our board of directors authorized the repurchase of up to $750 million of our common stock. These repurchases may be made from time to time in the open market, in privately negotiated transactions, or otherwise, including pursuant to a Rule 10b5-1 plan or an accelerated share repurchase transaction, at prices we deem appropriate and subject to market conditions, applicable law, and other factors deemed relevant in our sole discretion. The common stock repurchase program applies to our Class A 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 three months ended March 31, 2023, we repurchased 1,018,931 shares of Class A common stock. The shares of common stock were repurchased at a weighted-average price of $104.50 per share for an aggregate purchase price of $106 million, excluding insignificant related expenses. The shares repurchased included the repurchase of 106,116 shares for $9 million, which was initiated prior to December 31, 2022 and settled during the three months ended March 31, 2023. At December 31, 2022, the $9 million share repurchase liability was recorded in accrued expenses and other current liabilities on our condensed consolidated balance sheet. The shares repurchased during the three months ended March 31, 2023 represented approximately 1% of our total shares of common stock outstanding at December 31, 2022. The shares of Class A common stock repurchased in the open market were retired and returned to the status of authorized and unissued shares. At March 31, 2023, we had $453 million remaining under the share repurchase authorization. In addition to the aforementioned share repurchases, we initiated the repurchase of 73,368 shares prior to March 31, 2023, but did not settle the repurchases until April 2023. At March 31, 2023, we had a $8 million liability recorded in accrued expenses and other current liabilities on our condensed consolidated balance sheet related to these shares. At April 30, 2023, we had $445 million remaining under the share repurchase authorization. During the three months ended March 31, 2022, we did not repurchase common stock.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	3 Months Ended
	Mar. 31, 2023
Share-Based Payment Arrangement, Noncash Expense [Abstract]
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION As part of our Long-Term Incentive Plan ("LTIP"), we award time-vested stock appreciation rights ("SARs"), time-vested restricted stock units ("RSUs"), and performance-vested restricted stock units ("PSUs") to certain employees and non-employee directors. In addition, non-employee directors may elect to receive their annual fees and/or annual equity retainers in the form of shares of our Class A common stock. Compensation expense and unearned compensation presented below exclude amounts related to employees of our managed hotels and other employees whose payroll is reimbursed, as these expenses have been, and will continue to be, reimbursed by our third-party hotel owners and are recognized in 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 (loss). Stock-based compensation expense recognized in selling, general, and administrative expenses and distribution and destination management expenses on our condensed consolidated statements of income (loss) related to these awards was as follows: Three Months Ended March 31, 2023 2022 SARs $ 11 $ 10 RSUs 17 16 PSUs 4 2 Total $ 32 $ 28 SARs —During the three months ended March 31, 2023, we granted 284,912 SARs to employees with a weighted-average grant date fair value of $48.54. During the three months ended March 31, 2022, we granted 344,202 SARs to employees with a weighted-average grant date fair value of $37.71. RSUs —During the three months ended March 31, 2023, we granted 405,464 RSUs to employees and non-employee directors with a weighted-average grant date fair value of $111.70. During the three months ended March 31, 2022, we granted 414,466 RSUs to employees and non-employee directors with a weighted-average grant date fair value of $95.00. PSUs —During the three months ended March 31, 2023 and March 31, 2022, we did not grant any PSUs under our LTIP. Our total unearned compensation for our stock-based compensation programs at March 31, 2023 was $4 million for SARs, $46 million for RSUs, and $19 million for PSUs, which will be recognized in selling, general, and administrative expenses and distribution and destination management expenses over a weighted-average period of 2 years.

RELATED-PARTY TRANSACTIONS

RELATED-PARTY TRANSACTIONS	3 Months Ended
	Mar. 31, 2023
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 three months ended March 31, 2023 and March 31, 2022 is the brother-in-law of our Executive Chairman. During the three months ended March 31, 2023 and March 31, 2022, we incurred $4 million and $2 million, respectively, of legal fees with this firm. At March 31, 2023 and December 31, 2022, we had $2 million and insignificant amounts, respectively, due to the law firm. Equity Method Investments —We have equity method investments in entities that own, operate, manage, or franchise properties for which we receive management, franchise, or license fees. We recognized $6 million and $4 million of fees during the three months ended March 31, 2023 and March 31, 2022, respectively. In addition, in some cases we provide loans (see Note 5) or guarantees (see Note 12) to these entities. During each of the three months ended March 31, 2023 and March 31, 2022, we recognized $2 million of income related to these guarantees. At March 31, 2023 and December 31, 2022, we had $37 million and $33 million, respectively, of net receivables due from these properties, inclusive of $24 million and $21 million, respectively, classified as financing receivables on our condensed consolidated balance sheets. Our ownership interest in these unconsolidated hospitality ventures varies from 24% to 50%. In addition to the aforementioned fees, we provide system-wide services on behalf of owners of managed and franchised properties and administer the loyalty program for the benefit of Hyatt's portfolio of properties. These expenses have been, and will continue to be, reimbursed by our third-party hotel owners and are recognized in 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 (loss). Class B Share Conversion —During the three months ended March 31, 2022, 635,522 shares of Class B common stock were converted on a share-for-share basis into shares of Class A common stock, $0.01 par value per share. The shares of Class B common stock that converted into shares of Class A common stock during the three months ended March 31, 2022 were retired subsequent to March 31, 2022, thereby reducing the shares of Class B common stock authorized and outstanding.

SEGMENT INFORMATION

SEGMENT INFORMATION	3 Months Ended
	Mar. 31, 2023
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. Effective January 1, 2023, we changed the strategic and operational oversight for our properties located in the Indian subcontinent. Revenues associated with these properties are now reported in the ASPAC management and franchising segment. The segment changes have been reflected retrospectively for the three months ended March 31, 2022. 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 unconsolidated hospitality ventures' Adjusted EBITDA, based on our ownership percentage of each venture. Adjusted EBITDA includes intercompany expenses related to management fees paid to the Company's management and franchising segments, which are eliminated in consolidation. Intersegment revenues relate to promotional award redemptions earned by our owned and leased hotels related to our co-branded credit card programs and are eliminated in consolidation. • Americas management and franchising —This segment derives its earnings primarily from a combination of hotel management services and licensing of our portfolio of brands to franchisees located in the United States, Canada, the Caribbean, Mexico, Central America, and South America, as well as revenues from residential management operations. This segment's revenues also include the reimbursement of costs incurred on behalf of managed and franchised properties. These reimbursed costs relate primarily to payroll at managed properties where the Company is the employer, as well as costs associated with sales, reservations, digital and technology, digital media, and marketing services (collectively, "system-wide services") 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 services and licensing of our portfolio of brands to franchisees located in Greater China, East and Southeast Asia, the Indian subcontinent, and Oceania. This segment's revenues also include the reimbursement of costs incurred on behalf of managed and franchised properties. These reimbursed costs relate primarily to system-wide services and the loyalty program operated on behalf of owners of managed and franchised properties. • EAME management and franchising —This segment derives its earnings primarily from a combination of hotel management services and licensing of our portfolio of brands to franchisees located in Europe, Africa, the Middle East, and Central Asia. This segment's revenues also include the reimbursement of costs incurred on behalf of managed and franchised properties. These reimbursed costs relate primarily to system-wide services 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. • Apple Leisure Group ("ALG") —This segment derives its earnings from distribution and destination management services offered through ALG Vacations; management and marketing services primarily for all-inclusive ALG resorts located in Mexico, the Caribbean, Central America, South America, and Europe; and through a paid membership program offering benefits exclusively at ALG resorts in Mexico, the Caribbean, and Central America. This segment's revenues also include the reimbursement of costs incurred on behalf of managed and franchised properties. These reimbursed costs relate to certain system-wide services provided on behalf of owners of ALG resorts. Our CODM evaluates performance based on owned and leased hotels revenues; management, franchise, license, and other fees revenues; distribution and destination management revenues; other revenues; and Adjusted EBITDA. Adjusted EBITDA, as we define it, is a non-GAAP measure. We define Adjusted EBITDA as net income (loss) attributable to Hyatt Hotels Corporation plus our pro rata share of unconsolidated owned and leased hospitality ventures' Adjusted EBITDA based on our ownership percentage of each owned and leased venture, adjusted to exclude interest expense; benefit (provision) for income taxes; depreciation and amortization; amortization of management and franchise agreement assets and performance cure payments, which constitute 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 that we intend to recover over the long term; equity earnings (losses) from unconsolidated hospitality ventures; stock-based compensation expense; gains (losses) on sales of real estate and other; asset impairments; and other income (loss), net. The table below shows summarized consolidated financial information by segment. Included within corporate and other are results related to our co-branded credit card programs and unallocated corporate expenses. Three Months Ended March 31, 2023 2022 Owned and leased hotels Owned and leased hotels revenues $ 322 $ 277 Intersegment revenues (1) 8 6 Adjusted EBITDA 74 54 Depreciation and amortization 46 52 Americas management and franchising Management, franchise, license, and other fees revenues 133 95 Contra revenue (6) (6) Other revenues 41 38 Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties 640 461 Intersegment revenues (1) 13 9 Adjusted EBITDA 119 85 Depreciation and amortization 6 5 ASPAC management and franchising Management, franchise, license, and other fees revenues 38 16 Contra revenue (1) (1) Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties 35 32 Adjusted EBITDA 25 7 EAME management and franchising Management, franchise, license, and other fees revenues 19 13 Contra revenue (3) (2) Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties 22 18 Intersegment revenues (1) 1 1 Adjusted EBITDA 12 4 Apple Leisure Group Management, franchise, license, and other fees revenues 39 30 Distribution and destination management revenues 328 246 Other revenues 41 34 Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties 32 29 Adjusted EBITDA 79 56 Depreciation and amortization 40 55 Corporate and other Revenues 22 14 Intersegment revenues (1) — (1) Adjusted EBITDA (42) (38) Depreciation and amortization 6 7 Eliminations Revenues (1) (22) (15) Adjusted EBITDA 1 1 TOTAL Revenues $ 1,680 $ 1,279 Adjusted EBITDA 268 169 Depreciation and amortization 98 119 (1) Intersegment revenues are included in management, franchise, license, 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 (loss) attributable to Hyatt Hotels Corporation to EBITDA and a reconciliation of EBITDA to our consolidated Adjusted EBITDA: Three Months Ended March 31, 2023 2022 Net income (loss) attributable to Hyatt Hotels Corporation $ 58 $ (73) Interest expense 33 40 Provision for income taxes 47 2 Depreciation and amortization 98 119 EBITDA 236 88 Contra revenue 10 9 Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties (729) (540) Costs incurred on behalf of managed and franchised properties 749 556 Equity (earnings) losses from unconsolidated hospitality ventures 2 9 Stock-based compensation expense (Note 14) 32 28 Asset impairments 2 3 Other (income) loss, net (Note 18) (48) 10 Pro rata share of unconsolidated owned and leased hospitality ventures' Adjusted EBITDA 14 6 Adjusted EBITDA $ 268 $ 169

EARNINGS (LOSSES) PER SHARE

EARNINGS (LOSSES) PER SHARE	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
EARNINGS (LOSSES) PER SHARE	EARNINGS (LOSSES) PER SHARE The calculation of basic and diluted earnings (losses) per share, including a reconciliation of the numerator and denominator, is as follows: Three Months Ended March 31, 2023 2022 Numerator: Net income (loss) $ 58 $ (73) Net income (loss) attributable to noncontrolling interests — — Net income (loss) attributable to Hyatt Hotels Corporation $ 58 $ (73) Denominator: Basic weighted-average shares outstanding (1) 106,389,110 110,172,487 Stock-based compensation 2,541,102 — Diluted weighted-average shares outstanding (1) 108,930,212 110,172,487 Basic Earnings (Losses) Per Share: Net income (loss) $ 0.55 $ (0.67) Net income (loss) attributable to noncontrolling interests — — Net income (loss) attributable to Hyatt Hotels Corporation $ 0.55 $ (0.67) Diluted Earnings (Losses) Per Share: Net income (loss) $ 0.53 $ (0.67) Net income (loss) attributable to noncontrolling interests — — Net income (loss) attributable to Hyatt Hotels Corporation $ 0.53 $ (0.67) (1) The computations reflect a reduction in shares outstanding at March 31, 2023 for the repurchases of 73,368 shares that were initiated prior to March 31, 2023, but settled in April 2023. The computations of diluted net earnings (losses) per share for the three months ended March 31, 2023 and March 31, 2022 do not include the following shares of Class A common stock assumed to be issued as stock-settled SARs and RSUs because they are anti-dilutive. Three Months Ended March 31, 2023 2022 SARs 7,000 1,655,500 RSUs 1,400 679,000

OTHER INCOME (LOSS), NET

OTHER INCOME (LOSS), NET	3 Months Ended
	Mar. 31, 2023
Other Income and Expenses [Abstract]
OTHER INCOME (LOSS), NET	OTHER INCOME (LOSS), NET Three Months Ended March 31, 2023 2022 Unrealized gains (losses), net (Note 4) $ 43 $ (10) Interest income 17 6 Depreciation recovery 4 4 Transaction costs (Note 6) (7) (1) Guarantee expense (Note 12) (11) (7) Other, net 2 (2) Other income (loss), net $ 48 $ (10)

RECENTLY ISSUED ACCOUNTING PR_2

RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS (Policies)	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Basis of Accounting	The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information, the instructions to Form 10-Q, and Article 10 of Regulation S-X. Accordingly, they do not include all information or footnotes required by GAAP for complete annual financial statements.
Principles of Consolidation	We have eliminated all intercompany accounts and transactions in our condensed consolidated financial statements. We consolidate entities under our control, including entities where we are deemed to be the primary beneficiary.
Future Adoption of Accounting Standards	Future Adoption of Accounting Standards Reference Rate Reform —In March 2020, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update No. 2020-04 ("ASU 2020-04"), Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting . ASU 2020-04 provides optional expedients and exceptions that we can elect to adopt, subject to meeting certain criteria, regarding contract modifications, hedging relationships, and other transactions that reference the London Interbank Offered Rate or another reference rate expected to be discontinued because of reference rate reform. In December 2022, the FASB issued Accounting Standards Update No. 2022-06 ("ASU 2022-06"), Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848 . ASU 2022-06 was effective upon issuance and defers the sunset date of Topic 848 by two years, extending the provisions of ASU 2020-04 through December 31, 2024. We are currently assessing the impact of adopting ASU 2020-04.
Revenue Allocated to Remaining Performance Obligations	Revenue Allocated to Remaining Performance ObligationsRevenue 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.
Insurance	Insurance—We obtain commercial insurance for potential losses from general liability, property, automobile, workers' compensation, employment practices liability, crime, cyber, and other miscellaneous risks. A portion of the risk is retained through a U.S.-based and licensed captive insurance company that is a wholly owned subsidiary of Hyatt and generally insures our deductibles and retentions. Reserve requirements are established based on actuarial projections of ultimate losses.
Commitments and Contingencies Other	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 and certain managed or franchised hotels, 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 or the respective third-party hotel owners or franchisees. 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 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. Effective January 1, 2023, we changed the strategic and operational oversight for our properties located in the Indian subcontinent. Revenues associated with these properties are now reported in the ASPAC management and franchising segment. The segment changes have been reflected retrospectively for the three months ended March 31, 2022. 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 unconsolidated hospitality ventures' Adjusted EBITDA, based on our ownership percentage of each venture. Adjusted EBITDA includes intercompany expenses related to management fees paid to the Company's management and franchising segments, which are eliminated in consolidation. Intersegment revenues relate to promotional award redemptions earned by our owned and leased hotels related to our co-branded credit card programs and are eliminated in consolidation. • Americas management and franchising —This segment derives its earnings primarily from a combination of hotel management services and licensing of our portfolio of brands to franchisees located in the United States, Canada, the Caribbean, Mexico, Central America, and South America, as well as revenues from residential management operations. This segment's revenues also include the reimbursement of costs incurred on behalf of managed and franchised properties. These reimbursed costs relate primarily to payroll at managed properties where the Company is the employer, as well as costs associated with sales, reservations, digital and technology, digital media, and marketing services (collectively, "system-wide services") 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 services and licensing of our portfolio of brands to franchisees located in Greater China, East and Southeast Asia, the Indian subcontinent, and Oceania. This segment's revenues also include the reimbursement of costs incurred on behalf of managed and franchised properties. These reimbursed costs relate primarily to system-wide services and the loyalty program operated on behalf of owners of managed and franchised properties. • EAME management and franchising —This segment derives its earnings primarily from a combination of hotel management services and licensing of our portfolio of brands to franchisees located in Europe, Africa, the Middle East, and Central Asia. This segment's revenues also include the reimbursement of costs incurred on behalf of managed and franchised properties. These reimbursed costs relate primarily to system-wide services 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. • Apple Leisure Group ("ALG") —This segment derives its earnings from distribution and destination management services offered through ALG Vacations; management and marketing services primarily for all-inclusive ALG resorts located in Mexico, the Caribbean, Central America, South America, and Europe; and through a paid membership program offering benefits exclusively at ALG resorts in Mexico, the Caribbean, and Central America. This segment's revenues also include the reimbursement of costs incurred on behalf of managed and franchised properties. These reimbursed costs relate to certain system-wide services provided on behalf of owners of ALG resorts. Our CODM evaluates performance based on owned and leased hotels revenues; management, franchise, license, and other fees revenues; distribution and destination management revenues; other revenues; and Adjusted EBITDA. Adjusted EBITDA, as we define it, is a non-GAAP measure. We define Adjusted EBITDA as net income (loss) attributable to Hyatt Hotels Corporation plus our pro rata share of unconsolidated owned and leased hospitality ventures' Adjusted EBITDA based on our ownership percentage of each owned and leased venture, adjusted to exclude interest expense; benefit (provision) for income taxes; depreciation and amortization; amortization of management and franchise agreement assets and performance cure payments, which constitute 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 that we intend to recover over the long term; equity earnings (losses) from unconsolidated hospitality ventures; stock-based compensation expense; gains (losses) on sales of real estate and other; asset impairments; and other income (loss), net.

REVENUE FROM CONTRACTS WITH C_2

REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables)	3 Months Ended
	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	The following tables present our revenues disaggregated by the nature of the product or service: Three Months Ended March 31, 2023 Owned and leased hotels Americas management and franchising ASPAC management and franchising EAME management and franchising Apple Leisure Group Corporate and other Eliminations Total Rooms revenues $ 198 $ — $ — $ — $ — $ — $ (8) $ 190 Food and beverage 85 — — — — — — 85 Other 39 — — — — — — 39 Owned and leased hotels 322 — — — — — (8) 314 Base management fees — 62 16 7 15 — (9) 91 Incentive management fees — 20 18 8 16 — (5) 57 Franchise, license, and other fees — 51 4 4 8 16 — 83 Management, franchise, license, and other fees — 133 38 19 39 16 (14) 231 Contra revenue — (6) (1) (3) — — — (10) Net management, franchise, license, and other fees — 127 37 16 39 16 (14) 221 Distribution and destination management — — — — 328 — — 328 Other revenues — 41 — — 41 6 — 88 Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties — 640 35 22 32 — — 729 Total $ 322 $ 808 $ 72 $ 38 $ 440 $ 22 $ (22) $ 1,680 Three Months Ended March 31, 2022 Owned and leased hotels Americas management and franchising ASPAC management and franchising (1) EAME management and franchising (1) Apple Leisure Group Corporate and other Eliminations Total Rooms revenues $ 167 $ — $ — $ — $ — $ — $ (6) $ 161 Food and beverage 69 — — — — — — 69 Other 41 — — — — — — 41 Owned and leased hotels 277 — — — — — (6) 271 Base management fees — 46 8 6 8 — (8) 60 Incentive management fees — 12 5 6 19 — (2) 40 Franchise, license, and other fees — 37 3 1 3 10 — 54 Management, franchise, license, and other fees — 95 16 13 30 10 (10) 154 Contra revenue — (6) (1) (2) — — — (9) Net management, franchise, license, and other fees — 89 15 11 30 10 (10) 145 Distribution and destination management — — — — 246 — — 246 Other revenues — 38 — — 34 4 1 77 Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties — 461 32 18 29 — — 540 Total $ 277 $ 588 $ 47 $ 29 $ 339 $ 14 $ (15) $ 1,279 (1) Amounts presented have been adjusted for changes within the segments effective on January 1, 2023 (see Note 16).
Schedule of of Contract Liability	Contract liabilities were comprised of the following: March 31, 2023 December 31, 2022 Deferred revenue related to the paid membership program $ 1,071 $ 1,013 Deferred revenue related to the loyalty program 1,010 928 Deferred revenue related to travel distribution and destination management services 729 732 Deferred revenue related to insurance programs 59 66 Advanced deposits 54 61 Initial fees received from franchise owners 45 45 Other deferred revenue 99 88 Total contract liabilities $ 3,067 $ 2,933

DEBT AND EQUITY SECURITIES (Tab

DEBT AND EQUITY SECURITIES (Tables)	3 Months Ended
	Mar. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Schedule of Marketable Securities Held to Fund Operating Programs	Marketable securities held to fund operating programs, which are recorded at fair value on our condensed consolidated balance sheets, were as follows: March 31, 2023 December 31, 2022 Loyalty program (Note 8) $ 756 $ 728 Deferred compensation plans held in rabbi trusts (Note 8 and Note 10) 450 420 Captive insurance company (Note 8) 125 110 Total marketable securities held to fund operating programs $ 1,331 $ 1,258 Less: current portion of marketable securities held to fund operating programs included in cash and cash equivalents and short-term investments (370) (339) Marketable securities held to fund operating programs included in other assets $ 961 $ 919
Schedule of Net Gains and Interest Income from Marketable Securities Held to Fund Operating Programs	Net unrealized and realized gains (losses) from marketable securities held to fund operating programs recognized on our condensed consolidated financial statements were as follows: Three Months Ended March 31, 2023 2022 Unrealized gains (losses), net Net gains (losses) and interest income from marketable securities held to fund rabbi trusts (1) $ 17 $ (32) Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties (1) 9 (15) Other income (loss), net (Note 18) 6 (18) Other comprehensive income (loss) (Note 13) 3 (7) Realized gains, net Net gains (losses) and interest income from marketable securities held to fund rabbi trusts (1) $ 1 $ 1 (1) The impact from our investments in marketable securities held to fund our deferred compensation plans through rabbi trusts was recognized on the following financial statement line items and had no impact on net income (loss): revenues for the reimbursement of costs incurred on behalf of managed and franchised properties; owned and leased hotels expenses; selling, general, and administrative expenses; costs incurred on behalf of managed and franchised properties; and net gains (losses) and interest income from marketable securities held to fund rabbi trusts.
Schedule of Marketable Securities Held for Investment Purposes	Marketable securities held for investment purposes, which are recorded at cost or fair value, depending on the nature of the investment, on our condensed consolidated balance sheets, were as follows: March 31, 2023 December 31, 2022 Interest-bearing money market funds $ 256 $ 430 Common shares in Playa N.V. (Note 8) 116 79 Time deposits (1) 12 10 Total marketable securities held for investment purposes $ 384 $ 519 Less: current portion of marketable securities held for investment purposes included in cash and cash equivalents and short-term investments (268) (440) Marketable securities held for investment purposes included in other assets $ 116 $ 79 (1) Time deposits have contractual maturity dates in 2023. The amortized cost of our time deposits approximates fair value.
Schedule of Unrealized Gain (Loss) on Investments	Net unrealized gains recognized on our condensed consolidated statements of income (loss) were as follows: Three Months Ended March 31, 2023 2022 Other income (loss), net (Note 18) $ 37 $ 8
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis	We measure marketable securities at fair value on a recurring basis: March 31, 2023 Cash and cash equivalents Short-term investments Other assets Level One - Quoted Prices in Active Markets for Identical Assets Interest-bearing money market funds $ 534 $ 534 $ — $ — Mutual funds 513 — — 513 Common shares in Playa N.V. 116 — — 116 Level Two - Significant Other Observable Inputs Time deposits 95 1 92 2 U.S. government obligations 236 — 1 235 U.S. government agencies 57 — 9 48 Corporate debt securities 117 — 1 116 Mortgage-backed securities 20 — — 20 Asset-backed securities 22 — — 22 Municipal and provincial notes and bonds 5 — — 5 Total $ 1,715 $ 535 $ 103 $ 1,077 December 31, 2022 Cash and cash equivalents Short-term investments Other assets Level One - Quoted Prices in Active Markets for Identical Assets Interest-bearing money market funds $ 620 $ 620 $ — $ — Mutual funds 482 — — 482 Common shares in Playa N.V. 79 — — 79 Level Two - Significant Other Observable Inputs Time deposits 148 1 145 2 U.S. government obligations 237 — 3 234 U.S. government agencies 55 — 8 47 Corporate debt securities 109 — 2 107 Mortgage-backed securities 21 — — 21 Asset-backed securities 21 — — 21 Municipal and provincial notes and bonds 5 — — 5 Total $ 1,777 $ 621 $ 158 $ 998
Schedule of Debt Securities, Held-to-maturity	We hold investments in third-party entities associated with certain of our hotels. The investments are redeemable on various dates through 2062 and recorded as HTM debt securities within other assets on our condensed consolidated balance sheets: March 31, 2023 December 31, 2022 HTM debt securities $ 98 $ 96 Less: allowance for credit losses (32) (31) Total HTM debt securities, net of allowances $ 66 $ 65
Schedule of Debt Securities, Held-to-maturity, Allowance for Credit Loss	The following table summarizes the activity in our HTM debt securities allowance for credit losses: 2023 2022 Allowance at January 1 $ 31 $ 38 Provisions, net (1) 1 1 Allowance at March 31 $ 32 $ 39 (1) Provisions for credit losses were partially or fully offset by interest income recognized in the same periods (see Note 18).

RECEIVABLES (Tables)

RECEIVABLES (Tables)	3 Months Ended
	Mar. 31, 2023
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
Schedule of Accounts Receivable, Allowance for Credit Loss	The following table summarizes the activity in our receivables allowance for credit losses: 2023 2022 Allowance at January 1 $ 63 $ 53 Provisions, net 3 7 Write-offs (3) (4) Allowance at March 31 $ 63 $ 56
Schedule of Financing Receivables	Financing Receivables March 31, 2023 December 31, 2022 Unsecured financing to hotel owners $ 111 $ 120 Less: current portion of financing receivables, included in receivables, net (10) (16) Less: allowance for credit losses (43) (44) Total long-term financing receivables, net of allowances $ 58 $ 60
Schedule of Allowance for Losses and Impairments	The following table summarizes the activity in our unsecured financing receivables allowance for credit losses: 2023 2022 Allowance at January 1 $ 44 $ 69 Provisions (reversals), net (1) — Foreign currency exchange, net — 3 Allowance at March 31 $ 43 $ 72
Schedule of Credit Monitoring	Our unsecured financing receivables were as follows: March 31, 2023 Gross loan balance (principal and interest) Related allowance Net financing receivables Gross receivables on nonaccrual status Loans $ 109 $ (42) $ 67 $ 22 Other financing arrangements 2 (1) 1 — Total unsecured financing receivables $ 111 $ (43) $ 68 $ 22 December 31, 2022 Gross loan balance (principal and interest) Related allowance Net financing receivables Gross receivables on nonaccrual status Loans $ 118 $ (43) $ 75 $ 22 Other financing arrangements 2 (1) 1 1 Total unsecured financing receivables $ 120 $ (44) $ 76 $ 23

ACQUISITION (Tables)

ACQUISITION (Tables)	3 Months Ended
	Mar. 31, 2023
Business Combination and Asset Acquisition [Abstract]
Schedule of Identifiable Net Assets Acquired	Net assets acquired were determined as follows: Cash paid $ 125 Fair value of contingent consideration 107 Net assets acquired $ 232 The following table summarizes the preliminary fair value of the identifiable net assets acquired at the acquisition date: Receivables $ 1 Goodwill (1) 41 Indefinite-lived intangibles (2) 33 Management agreement intangibles (3) 158 Total assets acquired $ 233 Long-term contract liabilities $ 1 Total liabilities assumed $ 1 Total net assets acquired attributable to Hyatt Hotels Corporation $ 232 ( 1) The goodwill, which is tax deductible and recorded on the Americas management and franchising segment, is attributable to the growth opportunities we expect to realize by expanding our lifestyle offerings and providing global travelers with an increased number of elevated hospitality experiences. (2) Includes intangible assets related to the Dream Hotels, The Chatwal, and Unscripted Hotels brand names.

INTANGIBLES, NET (Tables)

INTANGIBLES, NET (Tables)	3 Months Ended
	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite-Lived Intangible Assets	March 31, 2023 Weighted- average useful lives in years Gross carrying value Accumulated amortization Net carrying value Management and franchise agreement intangibles 15 $ 937 $ (198) $ 739 Brand and other indefinite-lived intangibles — 626 — 626 Customer relationships intangibles 8 608 (169) 439 Other intangibles 5 22 (13) 9 Total $ 2,193 $ (380) $ 1,813 December 31, 2022 Gross carrying value Accumulated amortization Net carrying value Management and franchise agreement intangibles $ 786 $ (184) $ 602 Brand and other indefinite-lived intangibles 593 — 593 Customer relationships intangibles 608 (145) 463 Other intangibles 22 (12) 10 Total $ 2,009 $ (341) $ 1,668
Schedule of Indefinite-Lived Intangible Assets	March 31, 2023 Weighted- average useful lives in years Gross carrying value Accumulated amortization Net carrying value Management and franchise agreement intangibles 15 $ 937 $ (198) $ 739 Brand and other indefinite-lived intangibles — 626 — 626 Customer relationships intangibles 8 608 (169) 439 Other intangibles 5 22 (13) 9 Total $ 2,193 $ (380) $ 1,813 December 31, 2022 Gross carrying value Accumulated amortization Net carrying value Management and franchise agreement intangibles $ 786 $ (184) $ 602 Brand and other indefinite-lived intangibles 593 — 593 Customer relationships intangibles 608 (145) 463 Other intangibles 22 (12) 10 Total $ 2,009 $ (341) $ 1,668
Schedule of Intangible Assets Amortization Expense	Three Months Ended March 31, 2023 2022 Amortization expense $ 44 $ 60

OTHER ASSETS (Tables)

OTHER ASSETS (Tables)	3 Months Ended
	Mar. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Other Assets	March 31, 2023 December 31, 2022 Management and franchise agreement assets constituting payments to customers (1) $ 781 $ 699 Marketable securities held to fund rabbi trusts (Note 4) 450 420 Marketable securities held to fund the loyalty program (Note 4) 418 406 Deferred costs related to the paid membership program 129 106 Common shares in Playa N.V. (Note 4) 116 79 Long-term investments (Note 4) 108 77 Marketable securities held for captive insurance company (Note 4) 93 93 Long-term restricted cash 38 37 Other 110 112 Total other assets $ 2,243 $ 2,029 (1) Includes cash consideration as well as other forms of consideration provided, such as debt repayment or performance guarantees.

DEBT (Tables)

DEBT (Tables)	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Schedule of Fair Value, by Balance Sheet Grouping	Our Senior Notes 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 on the lack of available market data, we have classified our revolving credit facility, as applicable, and other debt instruments as Level Three. The primary sensitivity in these models is based on the selection of appropriate discount rates. Fluctuations in our assumptions will result in different estimates of fair value. March 31, 2023 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) $ 3,109 $ 3,048 $ — $ 3,017 $ 31 (1) Excludes $6 million of finance lease obligations and $13 million of unamortized discounts and deferred financing fees. December 31, 2022 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) $ 3,121 $ 3,006 $ — $ 2,976 $ 30 (2) Excludes $7 million of finance lease obligations and $15 million of unamortized discounts and deferred financing fees.

OTHER LONG-TERM LIABILITIES (Ta

OTHER LONG-TERM LIABILITIES (Tables)	3 Months Ended
	Mar. 31, 2023
Other Liabilities [Abstract]
Schedule of Other Long-Term Liabilities	March 31, 2023 December 31, 2022 Deferred compensation plans funded by rabbi trusts (Note 4) $ 450 $ 420 Income taxes payable 373 339 Guarantee liabilities (Note 12) 130 124 Contingent consideration liability (Note 6) 107 — Deferred income taxes (Note 11) 73 72 Self-insurance liabilities (Note 12) 68 68 Other 54 54 Total other long-term liabilities $ 1,255 $ 1,077

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	3 Months Ended
	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Schedule of Debt Repayment and Other Guarantees	We enter into various debt repayment guarantees in order to assist third-party owners, franchisees, and unconsolidated hospitality ventures in obtaining third-party financing or to obtain more favorable borrowing terms. Geographical region Maximum potential future payments (1) Maximum exposure net of recoverability from third parties (1) Other long-term liabilities recorded at March 31, 2023 Other long-term liabilities recorded at December 31, 2022 Year of guarantee expiration United States (2), (3) $ 110 $ 39 $ 6 $ 3 various, through 2027 All foreign (2), (4) 200 180 30 25 various, through 2031 Total $ 310 $ 219 $ 36 $ 28 (1) Our maximum exposure is generally based on a specified percentage of the total principal due upon borrower default. (2) We have agreements with our unconsolidated hospitality venture partners or the respective third-party owners or franchisees to recover certain amounts funded under the debt repayment guarantee; the recoverability mechanism may be in the form of cash or HTM debt security. (3) Certain agreements give us the ability to assume control of the property if defined funding thresholds are met or if certain events occur.

EQUITY (Tables)

EQUITY (Tables)	3 Months Ended
	Mar. 31, 2023
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss The components of accumulated other comprehensive loss, net of insignificant tax impacts, were as follows: Balance at Current period other comprehensive income (loss) before reclassification Amount reclassified from accumulated other comprehensive loss Balance at March 31, 2023 Foreign currency translation adjustments $ (202) $ 15 $ — $ (187) AFS debt securities unrealized fair value adjustments (11) 3 — (8) Derivative instrument adjustments (1) (29) — 1 (28) Accumulated other comprehensive loss $ (242) $ 18 $ 1 $ (223) (1) The amount reclassified from accumulated other comprehensive loss included realized losses recognized in interest expense related to the settlement of interest rate locks. We expect to reclassify $6 million of losses over the next 12 months. Balance at Current period other comprehensive income (loss) before reclassification Amount reclassified from accumulated other comprehensive loss Balance at March 31, 2022 Foreign currency translation adjustments $ (206) $ 21 $ — $ (185) AFS debt securities unrealized fair value adjustments (1) (7) — (8) Pension liabilities adjustment (4) (1) (1) (6) Derivative instrument adjustments (2) (34) — 2 (32) Accumulated other comprehensive loss $ (245) $ 13 $ 1 $ (231) (2) The amount reclassified from accumulated other comprehensive loss included realized losses recognized in interest expense related to the settlement of interest rate locks.

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	3 Months Ended
	Mar. 31, 2023
Share-Based Payment Arrangement, Noncash Expense [Abstract]
Schedule of Compensation Expense Related to Long-Term Incentive Plan	Stock-based compensation expense recognized in selling, general, and administrative expenses and distribution and destination management expenses on our condensed consolidated statements of income (loss) related to these awards was as follows: Three Months Ended March 31, 2023 2022 SARs $ 11 $ 10 RSUs 17 16 PSUs 4 2 Total $ 32 $ 28

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	3 Months Ended
	Mar. 31, 2023
Segment Reporting [Abstract]
Schedule of Summarized Consolidated Financial Information by Segment	The table below shows summarized consolidated financial information by segment. Included within corporate and other are results related to our co-branded credit card programs and unallocated corporate expenses. Three Months Ended March 31, 2023 2022 Owned and leased hotels Owned and leased hotels revenues $ 322 $ 277 Intersegment revenues (1) 8 6 Adjusted EBITDA 74 54 Depreciation and amortization 46 52 Americas management and franchising Management, franchise, license, and other fees revenues 133 95 Contra revenue (6) (6) Other revenues 41 38 Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties 640 461 Intersegment revenues (1) 13 9 Adjusted EBITDA 119 85 Depreciation and amortization 6 5 ASPAC management and franchising Management, franchise, license, and other fees revenues 38 16 Contra revenue (1) (1) Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties 35 32 Adjusted EBITDA 25 7 EAME management and franchising Management, franchise, license, and other fees revenues 19 13 Contra revenue (3) (2) Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties 22 18 Intersegment revenues (1) 1 1 Adjusted EBITDA 12 4 Apple Leisure Group Management, franchise, license, and other fees revenues 39 30 Distribution and destination management revenues 328 246 Other revenues 41 34 Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties 32 29 Adjusted EBITDA 79 56 Depreciation and amortization 40 55 Corporate and other Revenues 22 14 Intersegment revenues (1) — (1) Adjusted EBITDA (42) (38) Depreciation and amortization 6 7 Eliminations Revenues (1) (22) (15) Adjusted EBITDA 1 1 TOTAL Revenues $ 1,680 $ 1,279 Adjusted EBITDA 268 169 Depreciation and amortization 98 119 (1) Intersegment revenues are included in management, franchise, license, and other fees revenues, owned and leased hotels revenues, and other revenues and eliminated in Eliminations.
Schedule of 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 (loss) attributable to Hyatt Hotels Corporation to EBITDA and a reconciliation of EBITDA to our consolidated Adjusted EBITDA: Three Months Ended March 31, 2023 2022 Net income (loss) attributable to Hyatt Hotels Corporation $ 58 $ (73) Interest expense 33 40 Provision for income taxes 47 2 Depreciation and amortization 98 119 EBITDA 236 88 Contra revenue 10 9 Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties (729) (540) Costs incurred on behalf of managed and franchised properties 749 556 Equity (earnings) losses from unconsolidated hospitality ventures 2 9 Stock-based compensation expense (Note 14) 32 28 Asset impairments 2 3 Other (income) loss, net (Note 18) (48) 10 Pro rata share of unconsolidated owned and leased hospitality ventures' Adjusted EBITDA 14 6 Adjusted EBITDA $ 268 $ 169

EARNINGS (LOSSES) PER SHARE (Ta

EARNINGS (LOSSES) PER SHARE (Tables)	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
Schedule of the Calculation of Basic and Diluted Earnings (Losses) Per Share	The calculation of basic and diluted earnings (losses) per share, including a reconciliation of the numerator and denominator, is as follows: Three Months Ended March 31, 2023 2022 Numerator: Net income (loss) $ 58 $ (73) Net income (loss) attributable to noncontrolling interests — — Net income (loss) attributable to Hyatt Hotels Corporation $ 58 $ (73) Denominator: Basic weighted-average shares outstanding (1) 106,389,110 110,172,487 Stock-based compensation 2,541,102 — Diluted weighted-average shares outstanding (1) 108,930,212 110,172,487 Basic Earnings (Losses) Per Share: Net income (loss) $ 0.55 $ (0.67) Net income (loss) attributable to noncontrolling interests — — Net income (loss) attributable to Hyatt Hotels Corporation $ 0.55 $ (0.67) Diluted Earnings (Losses) Per Share: Net income (loss) $ 0.53 $ (0.67) Net income (loss) attributable to noncontrolling interests — — Net income (loss) attributable to Hyatt Hotels Corporation $ 0.53 $ (0.67) (1) The computations reflect a reduction in shares outstanding at March 31, 2023 for the repurchases of 73,368 shares that were initiated prior to March 31, 2023, but settled in April 2023.
Schedule of Antidilutive Securities Excluded from Computation of Losses Per Share	The computations of diluted net earnings (losses) per share for the three months ended March 31, 2023 and March 31, 2022 do not include the following shares of Class A common stock assumed to be issued as stock-settled SARs and RSUs because they are anti-dilutive. Three Months Ended March 31, 2023 2022 SARs 7,000 1,655,500 RSUs 1,400 679,000

OTHER INCOME (LOSS), NET (Table

OTHER INCOME (LOSS), NET (Tables)	3 Months Ended
	Mar. 31, 2023
Other Income and Expenses [Abstract]
Schedule of Other Income (Loss), Net	Three Months Ended March 31, 2023 2022 Unrealized gains (losses), net (Note 4) $ 43 $ (10) Interest income 17 6 Depreciation recovery 4 4 Transaction costs (Note 6) (7) (1) Guarantee expense (Note 12) (11) (7) Other, net 2 (2) Other income (loss), net $ 48 $ (10)

ORGANIZATION (Details)

ORGANIZATION (Details)	Mar. 31, 2023 room hotel country
Organization
Number of countries in which entity operates | country	75
Full Service
Organization
Number of hotels operated or franchised	596
Number of rooms operated or franchised | room	186,380
Number of hotels operated or marketed	114
Number of rooms operated or marketed | room	36,676
Select Service
Organization
Number of hotels operated or franchised	569
Number of rooms operated or franchised | room	83,438
Select Service | United States
Organization
Number of hotels operated or franchised	448

REVENUE FROM CONTRACTS WITH C_3

REVENUE FROM CONTRACTS WITH CUSTOMERS - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Disaggregation of Revenue [Line Items]
Revenues	$ 1,680	$ 1,279
Owned and leased hotels
Disaggregation of Revenue [Line Items]
Revenues	314	271
Rooms revenues
Disaggregation of Revenue [Line Items]
Revenues	190	161
Food and beverage
Disaggregation of Revenue [Line Items]
Revenues	85	69
Other
Disaggregation of Revenue [Line Items]
Revenues	39	41
Net management, franchise, license, and other fees
Disaggregation of Revenue [Line Items]
Revenues	221	145
Management, franchise, license, and other fees
Disaggregation of Revenue [Line Items]
Revenues	231	154
Base management fees
Disaggregation of Revenue [Line Items]
Revenues	91	60
Incentive management fees
Disaggregation of Revenue [Line Items]
Revenues	57	40
Franchise, license, and other fees
Disaggregation of Revenue [Line Items]
Revenues	83	54
Contra revenue
Disaggregation of Revenue [Line Items]
Revenues	(10)	(9)
Distribution and destination management
Disaggregation of Revenue [Line Items]
Revenues	328	246
Other revenues
Disaggregation of Revenue [Line Items]
Revenues	88	77
Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties
Disaggregation of Revenue [Line Items]
Revenues	729	540
Operating Segments | Owned and leased hotels
Disaggregation of Revenue [Line Items]
Revenues	322	277
Operating Segments | Owned and leased hotels | Owned and leased hotels
Disaggregation of Revenue [Line Items]
Revenues	322	277
Operating Segments | Owned and leased hotels | Rooms revenues
Disaggregation of Revenue [Line Items]
Revenues	198	167
Operating Segments | Owned and leased hotels | Food and beverage
Disaggregation of Revenue [Line Items]
Revenues	85	69
Operating Segments | Owned and leased hotels | Other
Disaggregation of Revenue [Line Items]
Revenues	39	41
Operating Segments | Owned and leased hotels | Net management, franchise, license, and other fees
Disaggregation of Revenue [Line Items]
Revenues	0	0
Operating Segments | Owned and leased hotels | Management, franchise, license, and other fees
Disaggregation of Revenue [Line Items]
Revenues	0	0
Operating Segments | Owned and leased hotels | Base management fees
Disaggregation of Revenue [Line Items]
Revenues	0	0
Operating Segments | Owned and leased hotels | Incentive management fees
Disaggregation of Revenue [Line Items]
Revenues	0	0
Operating Segments | Owned and leased hotels | Franchise, license, and other fees
Disaggregation of Revenue [Line Items]
Revenues	0	0
Operating Segments | Owned and leased hotels | Contra revenue
Disaggregation of Revenue [Line Items]
Revenues	0	0
Operating Segments | Owned and leased hotels | Distribution and destination management
Disaggregation of Revenue [Line Items]
Revenues	0	0
Operating Segments | Owned and leased hotels | Other revenues
Disaggregation of Revenue [Line Items]
Revenues	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
Operating Segments | Americas management and franchising
Disaggregation of Revenue [Line Items]
Revenues	808	588
Operating Segments | Americas management and franchising | Owned and leased hotels
Disaggregation of Revenue [Line Items]
Revenues	0	0
Operating Segments | Americas management and franchising | Rooms revenues
Disaggregation of Revenue [Line Items]
Revenues	0	0
Operating Segments | Americas management and franchising | Food and beverage
Disaggregation of Revenue [Line Items]
Revenues	0	0
Operating Segments | Americas management and franchising | Other
Disaggregation of Revenue [Line Items]
Revenues	0	0
Operating Segments | Americas management and franchising | Net management, franchise, license, and other fees
Disaggregation of Revenue [Line Items]
Revenues	127	89
Operating Segments | Americas management and franchising | Management, franchise, license, and other fees
Disaggregation of Revenue [Line Items]
Revenues	133	95
Operating Segments | Americas management and franchising | Base management fees
Disaggregation of Revenue [Line Items]
Revenues	62	46
Operating Segments | Americas management and franchising | Incentive management fees
Disaggregation of Revenue [Line Items]
Revenues	20	12
Operating Segments | Americas management and franchising | Franchise, license, and other fees
Disaggregation of Revenue [Line Items]
Revenues	51	37
Operating Segments | Americas management and franchising | Contra revenue
Disaggregation of Revenue [Line Items]
Revenues	(6)	(6)
Operating Segments | Americas management and franchising | Distribution and destination management
Disaggregation of Revenue [Line Items]
Revenues	0	0
Operating Segments | Americas management and franchising | Other revenues
Disaggregation of Revenue [Line Items]
Revenues	41	38
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	640	461
Operating Segments | ASPAC management and franchising
Disaggregation of Revenue [Line Items]
Revenues	72	47
Operating Segments | ASPAC management and franchising | Owned and leased hotels
Disaggregation of Revenue [Line Items]
Revenues	0	0
Operating Segments | ASPAC management and franchising | Rooms revenues
Disaggregation of Revenue [Line Items]
Revenues	0	0
Operating Segments | ASPAC management and franchising | Food and beverage
Disaggregation of Revenue [Line Items]
Revenues	0	0
Operating Segments | ASPAC management and franchising | Other
Disaggregation of Revenue [Line Items]
Revenues	0	0
Operating Segments | ASPAC management and franchising | Net management, franchise, license, and other fees
Disaggregation of Revenue [Line Items]
Revenues	37	15
Operating Segments | ASPAC management and franchising | Management, franchise, license, and other fees
Disaggregation of Revenue [Line Items]
Revenues	38	16
Operating Segments | ASPAC management and franchising | Base management fees
Disaggregation of Revenue [Line Items]
Revenues	16	8
Operating Segments | ASPAC management and franchising | Incentive management fees
Disaggregation of Revenue [Line Items]
Revenues	18	5
Operating Segments | ASPAC management and franchising | Franchise, license, and other fees
Disaggregation of Revenue [Line Items]
Revenues	4	3
Operating Segments | ASPAC management and franchising | Contra revenue
Disaggregation of Revenue [Line Items]
Revenues	(1)	(1)
Operating Segments | ASPAC management and franchising | Distribution and destination management
Disaggregation of Revenue [Line Items]
Revenues	0	0
Operating Segments | ASPAC management and franchising | Other revenues
Disaggregation of Revenue [Line Items]
Revenues	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	35	32
Operating Segments | EAME management and franchising
Disaggregation of Revenue [Line Items]
Revenues	38	29
Operating Segments | EAME management and franchising | Owned and leased hotels
Disaggregation of Revenue [Line Items]
Revenues	0	0
Operating Segments | EAME management and franchising | Rooms revenues
Disaggregation of Revenue [Line Items]
Revenues	0	0
Operating Segments | EAME management and franchising | Food and beverage
Disaggregation of Revenue [Line Items]
Revenues	0	0
Operating Segments | EAME management and franchising | Other
Disaggregation of Revenue [Line Items]
Revenues	0	0
Operating Segments | EAME management and franchising | Net management, franchise, license, and other fees
Disaggregation of Revenue [Line Items]
Revenues	16	11
Operating Segments | EAME management and franchising | Management, franchise, license, and other fees
Disaggregation of Revenue [Line Items]
Revenues	19	13
Operating Segments | EAME management and franchising | Base management fees
Disaggregation of Revenue [Line Items]
Revenues	7	6
Operating Segments | EAME management and franchising | Incentive management fees
Disaggregation of Revenue [Line Items]
Revenues	8	6
Operating Segments | EAME management and franchising | Franchise, license, and other fees
Disaggregation of Revenue [Line Items]
Revenues	4	1
Operating Segments | EAME management and franchising | Contra revenue
Disaggregation of Revenue [Line Items]
Revenues	(3)	(2)
Operating Segments | EAME management and franchising | Distribution and destination management
Disaggregation of Revenue [Line Items]
Revenues	0	0
Operating Segments | EAME management and franchising | Other revenues
Disaggregation of Revenue [Line Items]
Revenues	0	0
Operating Segments | EAME management and franchising | Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties
Disaggregation of Revenue [Line Items]
Revenues	22	18
Operating Segments | Apple Leisure Group
Disaggregation of Revenue [Line Items]
Revenues	440	339
Operating Segments | Apple Leisure Group | Owned and leased hotels
Disaggregation of Revenue [Line Items]
Revenues	0	0
Operating Segments | Apple Leisure Group | Rooms revenues
Disaggregation of Revenue [Line Items]
Revenues	0	0
Operating Segments | Apple Leisure Group | Food and beverage
Disaggregation of Revenue [Line Items]
Revenues	0	0
Operating Segments | Apple Leisure Group | Other
Disaggregation of Revenue [Line Items]
Revenues	0	0
Operating Segments | Apple Leisure Group | Net management, franchise, license, and other fees
Disaggregation of Revenue [Line Items]
Revenues	39	30
Operating Segments | Apple Leisure Group | Management, franchise, license, and other fees
Disaggregation of Revenue [Line Items]
Revenues	39	30
Operating Segments | Apple Leisure Group | Base management fees
Disaggregation of Revenue [Line Items]
Revenues	15	8
Operating Segments | Apple Leisure Group | Incentive management fees
Disaggregation of Revenue [Line Items]
Revenues	16	19
Operating Segments | Apple Leisure Group | Franchise, license, and other fees
Disaggregation of Revenue [Line Items]
Revenues	8	3
Operating Segments | Apple Leisure Group | Contra revenue
Disaggregation of Revenue [Line Items]
Revenues	0	0
Operating Segments | Apple Leisure Group | Distribution and destination management
Disaggregation of Revenue [Line Items]
Revenues	328	246
Operating Segments | Apple Leisure Group | Other revenues
Disaggregation of Revenue [Line Items]
Revenues	41	34
Operating Segments | Apple Leisure Group | Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties
Disaggregation of Revenue [Line Items]
Revenues	32	29
Corporate and other
Disaggregation of Revenue [Line Items]
Revenues	22	14
Corporate and other | Owned and leased hotels
Disaggregation of Revenue [Line Items]
Revenues	0	0
Corporate and other | Rooms revenues
Disaggregation of Revenue [Line Items]
Revenues	0	0
Corporate and other | Food and beverage
Disaggregation of Revenue [Line Items]
Revenues	0	0
Corporate and other | Other
Disaggregation of Revenue [Line Items]
Revenues	0	0
Corporate and other | Net management, franchise, license, and other fees
Disaggregation of Revenue [Line Items]
Revenues	16	10
Corporate and other | Management, franchise, license, and other fees
Disaggregation of Revenue [Line Items]
Revenues	16	10
Corporate and other | Base management fees
Disaggregation of Revenue [Line Items]
Revenues	0	0
Corporate and other | Incentive management fees
Disaggregation of Revenue [Line Items]
Revenues	0	0
Corporate and other | Franchise, license, and other fees
Disaggregation of Revenue [Line Items]
Revenues	16	10
Corporate and other | Contra revenue
Disaggregation of Revenue [Line Items]
Revenues	0	0
Corporate and other | Distribution and destination management
Disaggregation of Revenue [Line Items]
Revenues	0	0
Corporate and other | Other revenues
Disaggregation of Revenue [Line Items]
Revenues	6	4
Corporate and other | Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties
Disaggregation of Revenue [Line Items]
Revenues	0	0
Eliminations
Disaggregation of Revenue [Line Items]
Revenues	(22)	(15)
Eliminations | Owned and leased hotels
Disaggregation of Revenue [Line Items]
Revenues	(8)	(6)
Eliminations | Rooms revenues
Disaggregation of Revenue [Line Items]
Revenues	(8)	(6)
Eliminations | Food and beverage
Disaggregation of Revenue [Line Items]
Revenues	0	0
Eliminations | Other
Disaggregation of Revenue [Line Items]
Revenues	0	0
Eliminations | Net management, franchise, license, and other fees
Disaggregation of Revenue [Line Items]
Revenues	(14)	(10)
Eliminations | Management, franchise, license, and other fees
Disaggregation of Revenue [Line Items]
Revenues	(14)	(10)
Eliminations | Base management fees
Disaggregation of Revenue [Line Items]
Revenues	(9)	(8)
Eliminations | Incentive management fees
Disaggregation of Revenue [Line Items]
Revenues	(5)	(2)
Eliminations | Franchise, license, and other fees
Disaggregation of Revenue [Line Items]
Revenues	0	0
Eliminations | Contra revenue
Disaggregation of Revenue [Line Items]
Revenues	0	0
Eliminations | Distribution and destination management
Disaggregation of Revenue [Line Items]
Revenues	0	0
Eliminations | Other revenues
Disaggregation of Revenue [Line Items]
Revenues	0	1
Eliminations | Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties
Disaggregation of Revenue [Line Items]
Revenues	0	0
Eliminations | Owned and leased hotels
Disaggregation of Revenue [Line Items]
Revenues	(8)	(6)
Eliminations | Americas management and franchising
Disaggregation of Revenue [Line Items]
Revenues	$ (13)	$ (9)

REVENUE FROM CONTRACTS WITH C_4

REVENUE FROM CONTRACTS WITH CUSTOMERS - Schedule of of Contract Liability (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Total contract liabilities	$ 3,067	$ 2,933
Deferred revenue related to the paid membership program
Disaggregation of Revenue [Line Items]
Total contract liabilities	1,071	1,013
Deferred revenue related to the loyalty program
Disaggregation of Revenue [Line Items]
Total contract liabilities	1,010	928
Deferred revenue related to travel distribution and destination management services
Disaggregation of Revenue [Line Items]
Total contract liabilities	729	732
Deferred revenue related to insurance programs
Disaggregation of Revenue [Line Items]
Total contract liabilities	59	66
Advanced deposits
Disaggregation of Revenue [Line Items]
Total contract liabilities	54	61
Initial fees received from franchise owners
Disaggregation of Revenue [Line Items]
Total contract liabilities	45	45
Other deferred revenue
Disaggregation of Revenue [Line Items]
Total contract liabilities	$ 99	$ 88

REVENUE FROM CONTRACTS WITH C_5

REVENUE FROM CONTRACTS WITH CUSTOMERS - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Contract assets	$ 3		$ 0
Revenue recognized from opening balance	$ 654	$ 501

REVENUE FROM CONTRACTS WITH C_6

REVENUE FROM CONTRACTS WITH CUSTOMERS - Remaining Performance Obligation (Details) $ in Millions	Mar. 31, 2023 USD ($)
Revenue from Contract with Customer [Abstract]
Remaining performance obligation	$ 500
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 500
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percent recognized	20%
Remaining performance obligation, period	12 months

DEBT AND EQUITY SECURITIES - Na

DEBT AND EQUITY SECURITIES - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Schedule of Debt and Equity Method Investments
Equity method investments	$ 180	$ 178
HTM debt securities	66	65
Held-to-maturity securities, fair value	84	81
Realized gain (loss)	0
Unrealized gain (loss)	0
Equity securities without a readily determinable fair value	12	12
Held for Operating Programs
Schedule of Debt and Equity Method Investments
Debt securities, available-for-sale	188	174
Equity securities	63	62
Held for Operating Programs | Affiliated Entity | World Of Hyatt
Schedule of Debt and Equity Method Investments
HTM debt securities	83
Held for Operating Programs | Affiliated Entity | Xenia
Schedule of Debt and Equity Method Investments
HTM debt securities		$ 138
Convertible Debt Securities
Schedule of Debt and Equity Method Investments
Payment to acquire AFS securities	$ 30

DEBT AND EQUITY SECURITIES - Sc

DEBT AND EQUITY SECURITIES - Schedule of Marketable Securities Held to Fund Operating Programs (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Held for Operating Programs
Schedule of Investments
Total marketable securities held to fund operating programs	$ 1,331	$ 1,258
Less: current portion of marketable securities held to fund operating programs included in cash and cash equivalents and short-term investments	(370)	(339)
Marketable securities held to fund operating programs included in other assets	961	919
Loyalty program
Schedule of Investments
Total marketable securities held to fund operating programs	756	728
Deferred compensation plans held in rabbi trusts
Schedule of Investments
Total marketable securities held to fund operating programs	450	420
Captive insurance company
Schedule of Investments
Total marketable securities held to fund operating programs	$ 125	$ 110

DEBT AND EQUITY SECURITIES - _2

DEBT AND EQUITY SECURITIES - Schedule of Net Gains and Interest Income from Marketable Securities Held to Fund Operating Programs (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Unrealized gains (losses), net
Net gains (losses) and interest income from marketable securities held to fund rabbi trusts	$ 17	$ (32)
Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties	9	(15)
Other income (loss), net (Note 18)	6	(18)
Other comprehensive income (loss) (Note 13)	3	(7)
Realized gains, net
Net gains (losses) and interest income from marketable securities held to fund rabbi trusts	$ 1	$ 1

DEBT AND EQUITY SECURITIES - _3

DEBT AND EQUITY SECURITIES - Schedule of Marketable Securities Held for Investment Purposes (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Schedule of Investments
Common shares in Playa N.V. (Note 8)	$ 116	$ 79
Held for Investment Purposes
Schedule of Investments
Interest-bearing money market funds	256	430
Common shares in Playa N.V. (Note 8)	116	79
Time deposits	12	10
Total marketable securities held to fund operating programs	384	519
Less: current portion of marketable securities held for investment purposes included in cash and cash equivalents and short-term investments	(268)	(440)
Marketable securities held for investment purposes included in other assets	116	79
Held for Operating Programs
Schedule of Investments
Total marketable securities held to fund operating programs	1,331	1,258
Less: current portion of marketable securities held for investment purposes included in cash and cash equivalents and short-term investments	(370)	(339)
Marketable securities held for investment purposes included in other assets	$ 961	$ 919

DEBT AND EQUITY SECURITIES - _4

DEBT AND EQUITY SECURITIES - Schedule of Unrealized Gain (Loss) on Investments (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Playa Hotels & Resorts N.V.
Schedule of Investments
Other income (loss), net (Note 18)	$ 37	$ 8

DEBT AND EQUITY SECURITIES - _5

DEBT AND EQUITY SECURITIES - Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Total	$ 1,715	$ 1,777
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
Cash equivalents	534	620
Level One - Quoted Prices in Active Markets for Identical Assets | Mutual funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash equivalents	513	482
Level One - Quoted Prices in Active Markets for Identical Assets | Common shares in Playa N.V.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash equivalents	116	79
Level Two - Significant Other Observable Inputs | Time deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Debt Securities, Available-for-Sale	95	148
Level Two - Significant Other Observable Inputs | U.S. government obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Debt Securities, Available-for-Sale	236	237
Level Two - Significant Other Observable Inputs | U.S. government agencies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Debt Securities, Available-for-Sale	57	55
Level Two - Significant Other Observable Inputs | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Debt Securities, Available-for-Sale	117	109
Level Two - Significant Other Observable Inputs | Mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Debt Securities, Available-for-Sale	20	21
Level Two - Significant Other Observable Inputs | Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Debt Securities, Available-for-Sale	22	21
Level Two - Significant Other Observable Inputs | Municipal and provincial notes and bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Debt Securities, Available-for-Sale	5	5
Cash and cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Total	535	621
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
Cash equivalents	534	620
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
Cash equivalents	0	0
Cash and cash equivalents | Level One - Quoted Prices in Active Markets for Identical Assets | Common shares in Playa N.V.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash equivalents	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
Debt Securities, Available-for-Sale	1	1
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
Debt Securities, Available-for-Sale	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
Debt Securities, Available-for-Sale	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
Debt Securities, Available-for-Sale	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
Debt Securities, Available-for-Sale	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
Debt Securities, Available-for-Sale	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
Debt Securities, Available-for-Sale	0	0
Short-term investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Total	103	158
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
Cash equivalents	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
Cash equivalents	0	0
Short-term investments | Level One - Quoted Prices in Active Markets for Identical Assets | Common shares in Playa N.V.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash equivalents	0	0
Short-term investments | Level Two - Significant Other Observable Inputs | Time deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Debt Securities, Available-for-Sale	92	145
Short-term investments | Level Two - Significant Other Observable Inputs | U.S. government obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Debt Securities, Available-for-Sale	1	3
Short-term investments | Level Two - Significant Other Observable Inputs | U.S. government agencies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Debt Securities, Available-for-Sale	9	8
Short-term investments | Level Two - Significant Other Observable Inputs | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Debt Securities, Available-for-Sale	1	2
Short-term investments | Level Two - Significant Other Observable Inputs | Mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Debt Securities, Available-for-Sale	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
Debt Securities, Available-for-Sale	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
Debt Securities, Available-for-Sale	0	0
Other assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Total	1,077	998
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
Cash equivalents	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
Cash equivalents	513	482
Other assets | Level One - Quoted Prices in Active Markets for Identical Assets | Common shares in Playa N.V.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash equivalents	116	79
Other assets | Level Two - Significant Other Observable Inputs | Time deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Debt Securities, Available-for-Sale	2	2
Other assets | Level Two - Significant Other Observable Inputs | U.S. government obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Debt Securities, Available-for-Sale	235	234
Other assets | Level Two - Significant Other Observable Inputs | U.S. government agencies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Debt Securities, Available-for-Sale	48	47
Other assets | Level Two - Significant Other Observable Inputs | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Debt Securities, Available-for-Sale	116	107
Other assets | Level Two - Significant Other Observable Inputs | Mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Debt Securities, Available-for-Sale	20	21
Other assets | Level Two - Significant Other Observable Inputs | Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Debt Securities, Available-for-Sale	22	21
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
Debt Securities, Available-for-Sale	$ 5	$ 5

DEBT AND EQUITY SECURITIES - _6

DEBT AND EQUITY SECURITIES - Schedule of Debt and Equity Securities HTM (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
HTM debt securities	$ 98	$ 96
Less: allowance for credit losses	(32)	(31)	$ (39)	$ (38)
Total HTM debt securities, net of allowances	$ 66	$ 65

DEBT AND EQUITY SECURITIES - _7

DEBT AND EQUITY SECURITIES - Schedule of Debt Securities, Held-to-maturity, Allowance for Credit Loss (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 31	$ 38
Provisions , net	1	1
Ending balance	$ 32	$ 39

RECEIVABLES - Schedule of Accou

RECEIVABLES - Schedule of Accounts Receivable, Allowance for Credit Loss (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
Net receivables	$ 828		$ 834
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Allowance beginning balance	63	$ 53
Provisions, net	3	7
Other	(3)	(4)
Allowance ending balance	$ 63	$ 56

RECEIVABLES - Schedule of Finan

RECEIVABLES - Schedule of Financing Receivables (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable
Less: allowance for credit losses	$ (43)	$ (44)
Total long-term financing receivables, net of allowances	58	60
Unsecured Financing
Accounts, Notes, Loans and Financing Receivable
Unsecured financing to hotel owners	111	120
Less: current portion of financing receivables, included in receivables, net	(10)	(16)
Less: allowance for credit losses	(43)	(44)	$ (72)	$ (69)
Total long-term financing receivables, net of allowances	$ 58	$ 60

RECEIVABLES - Schedule of Allow

RECEIVABLES - Schedule of Allowance for Losses and Impairments (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Allowance for Losses and Impairments
Allowance beginning balance	$ 44
Allowance ending balance	43
Unsecured Financing
Allowance for Losses and Impairments
Allowance beginning balance	44	$ 69
Provisions (reversals), net	(1)	0
Foreign currency exchange, net	0	3
Allowance ending balance	$ 43	$ 72

RECEIVABLES - Schedule of Credi

RECEIVABLES - Schedule of Credit Monitoring (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Unsecured Financing Receivables
Related allowance	$ (43)	$ (44)
Unsecured Financing
Unsecured Financing Receivables
Gross loan balance (principal and interest)	111	120
Related allowance	(43)	(44)	$ (72)	$ (69)
Net financing receivables	68	76
Gross receivables on nonaccrual status	22	23
Unsecured Financing | Loans
Unsecured Financing Receivables
Gross loan balance (principal and interest)	109	118
Related allowance	(42)	(43)
Net financing receivables	67	75
Gross receivables on nonaccrual status	22	22
Unsecured Financing | Other financing arrangements
Unsecured Financing Receivables
Gross loan balance (principal and interest)	2	2
Related allowance	(1)	(1)
Net financing receivables	1	1
Gross receivables on nonaccrual status	$ 0	$ 1

RECEIVABLES - Narrative (Detail

RECEIVABLES - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Significant unobservable inputs (Level Three)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation
Financing receivables	$ 110	$ 117

ACQUISITION - Acquisition Narra

ACQUISITION - Acquisition Narrative (Details) - USD ($) $ in Millions		3 Months Ended
	Feb. 02, 2023	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Business Acquisition [Line Items]
Contingent consideration liability (Note 6)		$ 107		$ 0
Cash paid		$ 125	$ 39
Dream Hotel Group
Business Acquisition [Line Items]
Ownership interest acquired		100%
Net assets acquired	$ 232
Outstanding liability balance		$ 175
Purchase price	125
Transaction costs		$ 7
Contingent consideration liability (Note 6)	107
Cash paid	$ 125

ACQUISITION - Schedule of Ident

ACQUISITION - Schedule of Identifiable Net Assets Acquired (Details) - USD ($) $ in Millions		3 Months Ended
	Feb. 02, 2023	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Acquired Indefinite-lived Intangible Assets [Line Items]
Cash paid		$ 125	$ 39
Fair value of contingent consideration		$ 107		$ 0
Dream Hotel Group
Acquired Indefinite-lived Intangible Assets [Line Items]
Cash paid	$ 125
Fair value of contingent consideration	107
Net assets acquired	$ 232

ACQUISITION - Schedule of Ide_2

ACQUISITION - Schedule of Identifiable Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Millions	Feb. 02, 2023	Mar. 31, 2023	Dec. 31, 2022
Business Acquisition [Line Items]
Receivables	$ 1
Goodwill	41	$ 3,143	$ 3,101
Indefinite-lived intangibles	33
Total assets acquired	233
Long-term contract liabilities	1
Total liabilities assumed	1
Total net assets acquired attributable to Hyatt Hotels Corporation	232
Management agreement intangibles
Business Acquisition [Line Items]
Management agreement intangibles	$ 158
Management agreement intangibles | Minimum
Business Acquisition [Line Items]
Weighted- average useful lives in years	9 years
Management agreement intangibles | Maximum
Business Acquisition [Line Items]
Weighted- average useful lives in years	22 years
Management agreement intangibles | Weighted Average
Business Acquisition [Line Items]
Weighted- average useful lives in years	17 years

INTANGIBLES, NET - Schedule of

INTANGIBLES, NET - Schedule of Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Gross carrying value	$ 2,193	$ 2,009
Accumulated amortization	(380)	(341)
Net carrying value	1,813	1,668
Brand and other indefinite-lived intangibles
Finite-Lived Intangible Assets [Line Items]
Brand and other indefinite-lived intangibles	$ 626	593
Management and franchise agreement intangibles
Finite-Lived Intangible Assets [Line Items]
Weighted- average useful lives in years	15 years
Gross carrying value	$ 937	786
Accumulated amortization	(198)	(184)
Net carrying value	$ 739	602
Customer relationships intangibles
Finite-Lived Intangible Assets [Line Items]
Weighted- average useful lives in years	8 years
Gross carrying value	$ 608	608
Accumulated amortization	(169)	(145)
Net carrying value	$ 439	463
Other intangibles
Finite-Lived Intangible Assets [Line Items]
Weighted- average useful lives in years	5 years
Gross carrying value	$ 22	22
Accumulated amortization	(13)	(12)
Net carrying value	$ 9	$ 10

INTANGIBLES, NET - Schedule o_2

INTANGIBLES, NET - Schedule of Intangible Assets Amortization Expense (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 44	$ 60

OTHER ASSETS - Schedule of Othe

OTHER ASSETS - Schedule of Other Assets (Details) - USD ($) $ in Millions	Mar. 31, 2023		Dec. 31, 2022	Mar. 31, 2022	[1],[2]
Total other assets
Management and franchise agreement assets constituting payments to customers	$ 781		$ 699
Marketable securities held to fund rabbi trusts (Note 4)	450		420
Marketable securities held to fund the loyalty program (Note 4)	418		406
Deferred costs related to the paid membership program	129		106
Common shares in Playa N.V. (Note 4)	116		79
Long-term investments (Note 4)	108		77
Marketable securities held for captive insurance company (Note 4)	93		93
Long-term restricted cash	38	[1],[2]	37	$ 49
Other	110		112
Total other assets	$ 2,243		$ 2,029
[1](1) Restricted cash generally represents debt service on bonds, escrow deposits, and other arrangements.[2](1) Restricted cash generally represents debt service on bonds, escrow deposits, and other arrangements.

DEBT - Narrative (Details)

DEBT - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Debt Instrument
Long-term debt and lease obligation	$ 3,102,000,000		$ 3,113,000,000
Current maturities of long-term debt	648,000,000		660,000,000
2023 Notes Floating Rate | Senior Notes
Debt Instrument
Repurchases senior notes	13,000,000
2023 Fixed Rate Notes | Senior Notes
Debt Instrument
Long-term debt, face value	$ 700,000,000
Debt instrument, stated percent	1.30%
2024 Notes | Senior Notes
Debt Instrument
Long-term debt, face value	$ 750,000,000
Debt instrument, stated percent	1.80%
2025 Notes | Senior Notes
Debt Instrument
Long-term debt, face value	$ 450,000,000
Debt instrument, stated percent	5.375%
2026 Notes | Senior Notes
Debt Instrument
Long-term debt, face value	$ 400,000,000
Debt instrument, stated percent	4.85%
2028 Notes | Senior Notes
Debt Instrument
Long-term debt, face value	$ 400,000,000
Debt instrument, stated percent	4.375%
2030 Notes | Senior Notes
Debt Instrument
Long-term debt, face value	$ 450,000,000
Debt instrument, stated percent	5.75%
Revolving Credit Facility
Debt Instrument
Borrowings from revolving credit facility during period	$ 0	$ 0
Repayments of revolving credit facility during period	0	$ 0
Revolving credit facility, outstanding balance	0		$ 0
Revolving credit facility, remaining borrowing capacity	$ 1,496,000,000

DEBT - Schedule of Fair Value,

DEBT - Schedule of Fair Value, by Balance Sheet Grouping (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Debt Instrument
Finance lease obligations	$ 6	$ 7
Unamortized discount and deferred financing fees	13	15
Quoted prices in active markets for identical assets (Level One)
Debt Instrument
Debt	0	0
Significant other observable inputs (Level Two)
Debt Instrument
Debt	3,017	2,976
Significant unobservable inputs (Level Three)
Debt Instrument
Debt	31	30
Carrying value
Debt Instrument
Debt	3,109	3,121
Fair value
Debt Instrument
Debt	$ 3,048	$ 3,006

OTHER LONG-TERM LIABILITIES - S

OTHER LONG-TERM LIABILITIES - Schedule of Other Long-Term Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Other Liabilities [Abstract]
Deferred compensation plans funded by rabbi trusts (Note 4)	$ 450	$ 420
Income taxes payable	373	339
Guarantee liabilities (Note 12)	130	124
Contingent consideration liability (Note 6)	107	0
Deferred income taxes (Note 11)	73	72
Self-insurance liabilities (Note 12)	68	68
Other	54	54
Other long-term liabilities	$ 1,255	$ 1,077

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Income Tax Contingency [Line Items]
Provision for income taxes	$ 47	$ 2
Release of valuation allowance	9
Estimated income tax liability based on taxing authority’s assessment	18
Amount of unrecognized tax benefits that would affect the tax rate if recognized	114		$ 102
Unrecognized tax benefits	278		$ 253
Settlement with Taxing Authority
Income Tax Contingency [Line Items]
Estimated income tax liability based on taxing authority’s assessment	239
Federal tax benefit	81
Settlement with Taxing Authority | Domestic Tax Authority
Income Tax Contingency [Line Items]
Amount of unrecognized tax benefits that would affect the tax rate if recognized	$ 92

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Commitments and Performance Guarantees Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Performance Guarantee
Loss Contingencies
Remaining maximum exposure	$ 119
Guarantor obligations, liability, current carrying value	109	$ 108
Performance Guarantee | Other long-term Liabilities
Loss Contingencies
Guarantor obligations, liability, current carrying value	94	96
Performance Guarantee | Accrued Expenses and Other Current Liabilities
Loss Contingencies
Guarantor obligations, liability, current carrying value	15	$ 12
Various Business Ventures
Loss Contingencies
Commitment to loan or investment	$ 386

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES - Schedule of Debt Repayment and Other Guarantees (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Loss Contingencies
Other long-term liabilities recorded	$ 130	$ 124
Debt Repayment and Other Guarantees
Loss Contingencies
Maximum potential future payments	310
Maximum exposure net of recoverability from third parties	219
Other long-term liabilities recorded	36	28
Debt Repayment and Other Guarantees | Hotel Properties in India | Joint Venture
Loss Contingencies
Maximum exposure net of recoverability from third parties	$ 84
Debt repayment and other guarantees, equity method investment, ownership percentage	50%
Debt Repayment and Other Guarantees | United States
Loss Contingencies
Maximum potential future payments	$ 110
Maximum exposure net of recoverability from third parties	39
Other long-term liabilities recorded	6	3
Debt Repayment and Other Guarantees | Non-US
Loss Contingencies
Maximum potential future payments	200
Maximum exposure net of recoverability from third parties	180
Other long-term liabilities recorded	$ 30	$ 25

COMMITMENTS AND CONTINGENCIES_3

COMMITMENTS AND CONTINGENCIES - Insurance, Collective Bargaining Agreements, Surety Bonds, and Letters of Credit, and Other Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Loss Contingencies
Guarantees, fair value disclosure	$ 137	$ 124
Self insurance reserve, current	39	39
Self-insurance liabilities, noncurrent	68	$ 68
Surety bonds	47
Estimated income tax liability based on taxing authority’s assessment	18
Letter of Credit
Loss Contingencies
Letters of credit outstanding	267
Reducing capacity under revolving credit facility	$ 4
Various US
Loss Contingencies
Multiemployer plans, collective-bargaining arrangement, percentage of participants	21%

EQUITY - Schedule of Accumulate

EQUITY - Schedule of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning of period	$ 3,702	$ 3,566
Current period other comprehensive income (loss) before reclassification	18	13
Amount reclassified from accumulated other comprehensive loss	1	1
Balance, end of period	3,696	3,524
Interest Rate Contract
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Reclassification out of AOCI within next 12 months	6
Foreign currency translation adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning of period	(202)	(206)
Current period other comprehensive income (loss) before reclassification	15	21
Amount reclassified from accumulated other comprehensive loss	0	0
Balance, end of period	(187)	(185)
AFS debt securities unrealized fair value adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning of period	(11)	(1)
Current period other comprehensive income (loss) before reclassification	3	(7)
Amount reclassified from accumulated other comprehensive loss	0	0
Balance, end of period	(8)	(8)
Pension liabilities adjustment
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning of period		(4)
Current period other comprehensive income (loss) before reclassification		(1)
Amount reclassified from accumulated other comprehensive loss		(1)
Balance, end of period		(6)
Unrealized gains (losses) on derivative instruments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning of period	(29)	(34)
Current period other comprehensive income (loss) before reclassification	0	0
Amount reclassified from accumulated other comprehensive loss	1	2
Balance, end of period	(28)	(32)
Accumulated other comprehensive loss
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning of period	(242)	(245)
Balance, end of period	$ (223)	$ (231)

EQUITY - Share Repurchase (Deta

EQUITY - Share Repurchase (Details) - USD ($)		3 Months Ended
	Dec. 31, 2022	Mar. 31, 2023		Mar. 31, 2022	Apr. 30, 2023	Dec. 31, 2019
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stock repurchase program, authorized amount (up to)						$ 750,000,000
Stock repurchased during period (in shares)		1,018,931
Weighted-average price per share (in dollars per share)		$ 104.50
Aggregate purchase price		$ 106,000,000
Shares repurchased and not settled yet (Shares)	106,116	73,368
Stock repurchased and retired during period, value, not settled yet	$ 9,000,000	$ 8,000,000		$ 0
Shares repurchased as a percentage of total common stock outstanding		1%
Stock repurchase program, remaining authorized repurchase amount		$ 453,000,000
Repurchases of common stock		$ 98,000,000	[1]	$ 0
Subsequent Event
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stock repurchase program, remaining authorized repurchase amount					$ 445,000,000
[1](1) Includes a $1 million liability for the 1% U.S. federal excise tax on certain share repurchases enacted by the Inflation Reduction Act of 2022.

STOCK-BASED COMPENSATION - Sche

STOCK-BASED COMPENSATION - Schedule of Compensation Expense Related to Long-Term Incentive Plan (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award
Compensation expense	$ 32	$ 28
SARs
Share-based Compensation Arrangement by Share-based Payment Award
Compensation expense	11	10
RSUs
Share-based Compensation Arrangement by Share-based Payment Award
Compensation expense	17	16
PSUs
Share-based Compensation Arrangement by Share-based Payment Award
Compensation expense	$ 4	$ 2

STOCK-BASED COMPENSATION - Narr

STOCK-BASED COMPENSATION - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
SARs
Share-based Compensation Arrangement by Share-based Payment Award
Grants in period (in shares)	284,912	344,202
Grants in period, weighted-average fair value at grant date (in dollars per share)	$ 48.54	$ 37.71
Total unearned compensation	$ 4
RSUs
Share-based Compensation Arrangement by Share-based Payment Award
Grants in period (in shares)	405,464	414,466
Grants in period, weighted-average fair value at grant date (in dollars per share)	$ 111.70	$ 95
Total unearned compensation	$ 46
PSUs
Share-based Compensation Arrangement by Share-based Payment Award
Total unearned compensation	$ 19
SARs ,RSUs and PSUs
Share-based Compensation Arrangement by Share-based Payment Award
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 ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Related Party Transaction
Legal services	$ 4	$ 2
Due to related party	$ 2		$ 0

RELATED-PARTY TRANSACTIONS - Eq

RELATED-PARTY TRANSACTIONS - Equity Method Investments (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Minimum | Unconsolidated Hospitality Ventures
Related Party Transaction
Equity method investment, ownership percentage	24%
Maximum | Unconsolidated Hospitality Ventures
Related Party Transaction
Equity method investment, ownership percentage	50%
Equity Method Investee
Related Party Transaction
Net receivables from related parties	$ 37		$ 33
Equity Method Investee | Financing Receivable, After Allowance For Credit Loss, Noncurrent
Related Party Transaction
Net receivables from related parties	24		$ 21
Franchise or License Fees | Equity Method Investee
Related Party Transaction
Revenue from related parties	6	$ 4
Related Parties Guarantees | Equity Method Investee
Related Party Transaction
Revenue from related parties	$ 2	$ 2

RELATED-PARTY TRANSACTIONS - Sh

RELATED-PARTY TRANSACTIONS - Share Conversion (Details) - $ / shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2023	Dec. 31, 2022
Common Class B
Related Party Transaction
Class share conversions (in shares)	(635,522)
Common stock, par value per share (in dollars per share)		$ 0.01	$ 0.01
Common Class A
Related Party Transaction
Class share conversions (in shares)	635,522
Common stock, par value per share (in dollars per share)		$ 0.01	$ 0.01

SEGMENT INFORMATION - Schedule

SEGMENT INFORMATION - Schedule of Summarized Consolidated Financial Information by Segment (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Segment Reporting Information
Total revenues	$ 1,680	$ 1,279
Adjusted EBITDA	268	169
Depreciation and amortization	98	119
Owned and leased hotels
Segment Reporting Information
Total revenues	314	271
Management, franchise, license, and other fees
Segment Reporting Information
Total revenues	231	154
Contra revenue
Segment Reporting Information
Total revenues	(10)	(9)
Other revenues
Segment Reporting Information
Total revenues	88	77
Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties
Segment Reporting Information
Total revenues	729	540
Distribution and destination management
Segment Reporting Information
Total revenues	328	246
Operating Segments | Owned and leased hotels
Segment Reporting Information
Total revenues	322	277
Adjusted EBITDA	74	54
Depreciation and amortization	46	52
Operating Segments | Owned and leased hotels | Owned and leased hotels
Segment Reporting Information
Total revenues	322	277
Operating Segments | Owned and leased hotels | Management, franchise, license, and other fees
Segment Reporting Information
Total revenues	0	0
Operating Segments | Owned and leased hotels | Contra revenue
Segment Reporting Information
Total revenues	0	0
Operating Segments | Owned and leased hotels | Other revenues
Segment Reporting Information
Total revenues	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
Operating Segments | Owned and leased hotels | Distribution and destination management
Segment Reporting Information
Total revenues	0	0
Operating Segments | Americas management and franchising
Segment Reporting Information
Total revenues	808	588
Adjusted EBITDA	119	85
Depreciation and amortization	6	5
Operating Segments | Americas management and franchising | Owned and leased hotels
Segment Reporting Information
Total revenues	0	0
Operating Segments | Americas management and franchising | Management, franchise, license, and other fees
Segment Reporting Information
Total revenues	133	95
Operating Segments | Americas management and franchising | Contra revenue
Segment Reporting Information
Total revenues	(6)	(6)
Operating Segments | Americas management and franchising | Other revenues
Segment Reporting Information
Total revenues	41	38
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	640	461
Operating Segments | Americas management and franchising | Distribution and destination management
Segment Reporting Information
Total revenues	0	0
Operating Segments | ASPAC management and franchising
Segment Reporting Information
Total revenues	72	47
Adjusted EBITDA	25	7
Operating Segments | ASPAC management and franchising | Owned and leased hotels
Segment Reporting Information
Total revenues	0	0
Operating Segments | ASPAC management and franchising | Management, franchise, license, and other fees
Segment Reporting Information
Total revenues	38	16
Operating Segments | ASPAC management and franchising | Contra revenue
Segment Reporting Information
Total revenues	(1)	(1)
Operating Segments | ASPAC management and franchising | Other revenues
Segment Reporting Information
Total revenues	0	0
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	35	32
Operating Segments | ASPAC management and franchising | Distribution and destination management
Segment Reporting Information
Total revenues	0	0
Operating Segments | EAME management and franchising
Segment Reporting Information
Adjusted EBITDA	12	4
Operating Segments | EAME management and franchising | Management, franchise, license, and other fees
Segment Reporting Information
Total revenues	19	13
Operating Segments | EAME management and franchising | Contra revenue
Segment Reporting Information
Total revenues	(3)	(2)
Operating Segments | EAME management and franchising | Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties
Segment Reporting Information
Total revenues	22	18
Operating Segments | Apple Leisure Group
Segment Reporting Information
Total revenues	440	339
Adjusted EBITDA	79	56
Depreciation and amortization	40	55
Operating Segments | Apple Leisure Group | Owned and leased hotels
Segment Reporting Information
Total revenues	0	0
Operating Segments | Apple Leisure Group | Management, franchise, license, and other fees
Segment Reporting Information
Total revenues	39	30
Operating Segments | Apple Leisure Group | Contra revenue
Segment Reporting Information
Total revenues	0	0
Operating Segments | Apple Leisure Group | Other revenues
Segment Reporting Information
Total revenues	41	34
Operating Segments | Apple Leisure Group | Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties
Segment Reporting Information
Total revenues	32	29
Operating Segments | Apple Leisure Group | Distribution and destination management
Segment Reporting Information
Total revenues	328	246
Operating Segments | Corporate and other
Segment Reporting Information
Adjusted EBITDA	(42)	(38)
Depreciation and amortization	6	7
Operating Segments | Corporate and other | Revenues
Segment Reporting Information
Total revenues	22	14
Eliminations
Segment Reporting Information
Total revenues	(22)	(15)
Adjusted EBITDA	1	1
Eliminations | Owned and leased hotels
Segment Reporting Information
Total revenues	(8)	(6)
Eliminations | Management, franchise, license, and other fees
Segment Reporting Information
Total revenues	(14)	(10)
Eliminations | Contra revenue
Segment Reporting Information
Total revenues	0	0
Eliminations | Other revenues
Segment Reporting Information
Total revenues	0	1
Eliminations | Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties
Segment Reporting Information
Total revenues	0	0
Eliminations | Distribution and destination management
Segment Reporting Information
Total revenues	0	0
Eliminations | Owned and leased hotels
Segment Reporting Information
Total revenues	(8)	(6)
Eliminations | Americas management and franchising
Segment Reporting Information
Total revenues	(13)	(9)
Eliminations | EAME management and franchising
Segment Reporting Information
Total revenues	(1)	(1)
Eliminations | Corporate and other
Segment Reporting Information
Total revenues	$ 0	$ 1

SEGMENT INFORMATION - Schedul_2

SEGMENT INFORMATION - Schedule of Reconciliation of Consolidated Adjusted EBITDA to EBITDA and a Reconciliation of EBITDA to Net Income Attributable to Hyatt Hotels Corporation (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Segment Reporting Information
Net income (loss) attributable to Hyatt Hotels Corporation	$ 58	$ (73)
Interest expense	33	40
Provision for income taxes	47	2
Depreciation and amortization	98	119
EBITDA	236	88
Total revenues	(1,680)	(1,279)
Equity (earnings) losses from unconsolidated hospitality ventures	2	9
Stock-based compensation expense (Note 14)	32	28
Asset impairments	2	3
Other (income) loss, net (Note 18)	(48)	10
Pro rata share of unconsolidated owned and leased hospitality ventures' Adjusted EBITDA	14	6
Adjusted EBITDA	268	169
Contra revenue
Segment Reporting Information
Total revenues	10	9
Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties
Segment Reporting Information
Total revenues	(729)	(540)
Costs incurred on behalf of managed and franchised properties
Segment Reporting Information
Costs incurred on behalf of managed and franchised properties	$ 749	$ 556

EARNINGS (LOSSES) PER SHARE - S

EARNINGS (LOSSES) PER SHARE - Schedule of the Calculation of Basic and Diluted Earnings (Losses) Per Share (Details) - USD ($) $ / shares in Units, $ in Millions		3 Months Ended
	Dec. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
Numerator:
Net income (loss)		$ 58	$ (73)
Net income (loss) attributable to noncontrolling interests		0	0
Net income (loss) attributable to Hyatt Hotels Corporation		$ 58	$ (73)
Denominator:
Basic weighted-average shares outstanding (in shares)		106,389,110	110,172,487
Share-based compensation (in shares)		2,541,102	0
Diluted weighted-average shares outstanding (in shares)		108,930,212	110,172,487
Basic Earnings (Losses) Per Share:
Net income (loss) (in dollars per share)		$ 0.55	$ (0.67)
Net income (loss) attributable to noncontrolling interests (in dollars per share)		0	0
Net income (loss) attributable to Hyatt Hotels Corporation (in dollars per share)		0.55	(0.67)
Diluted Earnings (Losses) Per Share:
Net income (loss) (in dollars per share)		0.53	(0.67)
Net income (loss) attributable to noncontrolling interests (in dollars per share)		0	0
Net income (loss) attributable to Hyatt Hotels Corporation (in dollars per share)		$ 0.53	$ (0.67)
Shares repurchased and not settled yet (Shares)	106,116	73,368

EARNINGS (LOSSES) PER SHARE -_2

EARNINGS (LOSSES) PER SHARE - Schedule of Antidilutive Securities Excluded from Computation of Losses Per Share (Details) - shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
SARs
Antidilutive Securities Excluded from Computation of Earnings Per Share
Antidilutive securities excluded from computation of earnings per share (in shares)	7,000	1,655,500
RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share
Antidilutive securities excluded from computation of earnings per share (in shares)	1,400	679,000

OTHER INCOME (LOSS), NET - Sche

OTHER INCOME (LOSS), NET - Schedule of Other Income (Loss), Net (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Other Income and Expenses [Abstract]
Unrealized gains (losses), net (Note 4)	$ 43	$ (10)
Interest income	17	6
Depreciation recovery	4	4
Transaction costs (Note 6)	(7)	(1)
Guarantee expense (Note 12)	(11)	(7)
Other, net	2	(2)
Other income (loss), net	$ 48	$ (10)