Hilton Worldwide (HLT) 10-Q 27 Oct 21 2021 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document - shares	9 Months Ended
	Sep. 30, 2021	Oct. 20, 2021
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2021
Entity File Number	001-36243
Entity Registrant Name	Hilton Worldwide Holdings Inc.
Entity incorporation, sate or country code	DE
Entity Tax Identification Number	27-4384691
Entity Address, Address Line One	7930 Jones Branch Drive
Entity Address, Address Line Two	Suite 1100
Entity Address, City or Town	McLean
Entity Address, State or Province	VA
Entity Address, Postal Zip Code	22102
City Area Code	703
Local Phone Number	883-1000
Title of 12(b) Security	Common Stock, $0.01 par value per share
Trading Symbol	HLT
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Small Business	false
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity common stock shares outstanding		278,721,682
Entity Central Index Key	0001585689
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Shell Company	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions		Sep. 30, 2021	Dec. 31, 2020
Current Assets:
Cash and cash equivalents		$ 1,288	$ 3,218
Restricted cash and cash equivalents		99	45
Accounts receivable, net of allowance for credit losses		1,012	771
Prepaid expenses		124	70
Other		171	98
Total current assets		2,694	4,202
Intangibles and Other Assets:
Goodwill		5,078	5,095
Brands		4,890	4,904
Operating lease right-of-use assets		719	772
Property and equipment, net		303	346
Deferred income tax assets		244	194
Other		448	323
Total intangibles and other assets		12,620	12,553
Total assets		15,314	16,755
Current Liabilities:
Accounts payable, accrued expenses and other		1,433	1,302
Current maturities of long-term debt	[1]	54	56
Current portion of deferred revenues		298	370
Total current liabilities		2,622	2,431
Long-term debt		8,713	10,431
Operating lease liabilities		899	971
Deferred revenues		790	1,004
Deferred income tax liabilities		718	649
Other		961	989
Total liabilities		16,442	18,241
Commitments and contingencies
Equity (Deficit):
Preferred stock		0	0
Common stock		3	3
Treasury stock, at cost		(4,447)	(4,453)
Additional paid-in capital		10,654	10,552
Accumulated Deficit		(6,469)	(6,732)
Accumulated other comprehensive loss		(869)	(860)
Total Hilton stockholders' deficit		(1,128)	(1,490)
Noncontrolling interests		0	4
Total deficit		(1,128)	(1,486)
Total liabilities and equity (deficit)		15,314	16,755
Management and franchise [member]
Intangibles and Other Assets:
Management and franchise contracts, net		730	653
Other intangible assets, net		730	653
Other intangible assets, net [member]
Intangibles and Other Assets:
Management and franchise contracts, net		208	266
Other intangible assets, net		208	266
Variable Interest Entity, Primary Beneficiary [member]
Current Assets:
Cash and cash equivalents		17	40
Intangibles and Other Assets:
Property and equipment, net		63	76
Deferred income tax assets		57	57
Other		61	66
Current Liabilities:
Accounts payable, accrued expenses and other		18	27
Other		17	(17)
Guest Loyalty Program [member]
Current Liabilities:
Liabilities from contracts with customers, current		837	703
Liabilities from contracts with customers		$ 1,739	$ 1,766
[1]	Represents current maturities of finance lease liabilities and, as of September 30, 2021, the outstanding borrowings under the revolving credit facility of a consolidated VIE.

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Allowance for credit losses	$ 130	$ 132
Preferred stock, par value (per share)	$ 0.01	$ 0.01
Preferred stock, authorized shares	3,000,000,000	3,000,000,000
Preferred stock, issued shares	0	0
Preferred stock, outstanding shares	0	0
Common stock, par value (per share)	$ 0.01	$ 0.01
Common stock, authorized shares	10,000,000,000	10,000,000,000
Common stock, issued shares	331,639,032	330,511,254
Common stock, outstanding shares	278,718,682	277,590,904
Treasury stock, shares	52,920,350	52,920,350
Total current assets of variable interest entities	$ 31	$ 53
Total intangibles and other assets of variable interest entities	181	199
Total current liabilities of variable interest entities	52	57
Total liabilities of variable interest entities	$ 217	$ 248

Condensed Consolidated Statemen

Condensed Consolidated Statement of Operations Statement - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenues		$ 1,749	$ 933	$ 3,952	$ 3,417
Owned and leased hotel expenses		200	144	452	478
Total revenues excluding reimbursable revenues		743	385	1,670	1,216
Depreciation and amortization		46	90	143	269
General and administrative expenses		107	66	302	189
Reorganization costs		0	0	0	38
Impairment losses		0	9	0	136
Other expenses		12	21	31	48
Total expenses excluding reimbursable expenses		365	330	928	1,158
Other expenses from managed and franchised properties		944	592	2,339	2,482
Total expenses		1,309	922	3,267	3,640
Loss on sale of assets, net		(8)	0	(8)	0
Operating income (loss)		432	11	677	(223)
Interest expense		(98)	(116)	(302)	(316)
Gain (loss) on foreign currency transactions		0	(12)	1	(16)
Loss on debt extinguishment		0	0	69	0
Other non-operating income (loss), net		6	3	16	(20)
Income (loss) before income taxes		340	(114)	323	(575)
Income tax benefit (expense)		(100)	33	(64)	80
Net income (loss)		240	(81)	259	(495)
Net loss (income) attributable to noncontrolling interests		1	2	4	4
Net income (loss) attributable to Hilton stockholders		$ 241	$ (79)	$ 263	$ (491)
Earnings (Loss) Per Share, Basic [Abstract]
Basic EPS		$ 0.86	$ (0.29)	$ 0.94	$ (1.77)
Earnings (Loss) Per Share, Diluted [Abstract]
Diluted EPS	[1]	0.86	(0.29)	0.94	(1.77)
Cash dividends declared per share		$ 0	$ 0	$ 0	$ 0.15
Franchise and licensing fees [member]
Revenues		$ 451	$ 241	$ 1,062	$ 712
Base and other management fees [member]
Revenues		49	24	116	92
Incentive management fees [member]
Revenues		26	7	60	25
Owned and leased hotels [member]
Revenues		199	94	376	335
Other revenues
Revenues		18	19	56	52
Other revenues from managed and franchised properties [member]
Revenues		$ 1,006	$ 548	$ 2,282	$ 2,201
[1]	Certain shares related to share-based compensation were excluded from the calculation of diluted EPS because their effect would have been anti-dilutive under the treasury stock method, including less than 1 million shares for both the three and nine months ended September 30, 2021, and, as revised, 3 million shares for both the three and nine months ended September 30, 2020. The dilutive shares related to share-based compensation included in the previously reported weighted average shares outstanding of 279 million for both the three and nine months ended September 30, 2020 were revised in the current period presentation, as the previously reported dilutive shares were determined to be anti-dilutive as a result of the net loss attributable to Hilton stockholders reported during those periods. The result of the revision is an immaterial decrease in the previously reported diluted EPS for the three and nine months ended September 30, 2020 of $0.01.

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 240	$ (81)	$ 259	$ (495)
Other comprehensive income (loss), net of tax benefit (expense)
Currency translation adjustment	(5)	25	(26)	21
Pension liability adjustment	(2)	(2)	(6)	(5)
Cash flow hedge adjustment	0	1	11	(39)
Total other comprehensive income (loss)	(3)	28	(9)	(13)
Comprehensive income (loss)	237	(53)	250	(508)
Comprehensive loss attributable to noncontrolling interests	1	2	4	4
Comprehensive income (loss) attributable to Hilton stockholders	$ 238	$ (51)	$ 254	$ (504)

Condensed Consolidated Statem_3

Condensed Consolidated Statement of Comprehensive Income (Loss) (Parentheticals) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Statement of Comprehensive Income [Abstract]
Currency translation adjustment, tax benefit (expense)	$ (2)	$ (11)	$ (4)	$ (2)
Pension liability adjustment, tax expense	(1)	(1)	(2)	(2)
Cash flow hedge adjustment, tax benefit (expense)	$ 0	$ (1)	$ (4)	$ 13

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Operating Activities:
Net income (loss)	$ 259	$ (495)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Amortization of contract acquisition costs	23	22
Depreciation and amortization	143	269
Impairment losses	0	136
Loss (gain) on foreign currency transactions	(1)	16
Share-based compensation expense	144	37
Deferred income taxes	6	(142)
Contract acquisition costs	(160)	(37)
Change in deferred revenues	(286)	496
Working capital changes and other	(257)	131
Net cash provided by (used in) operating activities	(22)	846
Investing Activities:
Capital expenditures for property and equipment	(17)	(38)
Capitalized software costs	(28)	(38)
Other	11	(13)
Net cash used in investing activities	(34)	(89)
Financing Activities:
Borrowings	1,505	2,690
Repayment of debt	(3,221)	(214)
Debt issuance costs and redemption premium	76	14
Dividends paid	0	(42)
Repurchases of common stock	0	(296)
Share-based compensation tax withholdings and other	(22)	(36)
Other	0	(1)
Net cash provided by (used in) financing activities	(1,814)	2,087
Effect of exchange rate changes on cash, restricted cash and cash equivalents	(6)	(6)
Net increase (decrease) in cash, restricted cash and cash equivalents	(1,876)	2,838
Cash, restricted cash and cash equivalents, beginning of period	3,263	630
Cash, restricted cash and cash equivalents, end of period	1,387	3,468
Supplemental Disclosures:
Interest	254	276
Income taxes, net of refunds	79	67
Guest Loyalty Program [member]
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Change in liability for guest loyalty program	$ 107	$ 413

Organization and Basis of Prese

Organization and Basis of Presentation	9 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Basis of Presentation	Organization and Basis of Presentation Organization Hilton Worldwide Holdings Inc. (the "Parent," or together with its subsidiaries, "Hilton," "we," "us," "our" or the "Company"), a Delaware corporation, is one of the largest hospitality companies in the world and is engaged in managing, franchising, owning and leasing hotels and resorts, and licensing its brands and intellectual property ("IP"). As of September 30, 2021, we managed, franchised, owned or leased 6,758 hotels and resorts, including timeshare properties, totaling 1,061,686 rooms in 122 countries and territories. Basis of Presentation The accompanying condensed consolidated financial statements for the three and nine months ended September 30, 2021 and 2020 have been prepared in accordance with United States ("U.S.") generally accepted accounting principles ("GAAP") and are unaudited. We have condensed or omitted certain disclosures normally included in annual financial statements presented in accordance with GAAP but that are not required for interim reporting purposes. Although we believe the disclosures made are adequate to prevent the information presented from being misleading, these financial statements should be read in conjunction with the consolidated financial statements and notes thereto in our Annual Report on Form 10-K for the fiscal year ended December 31, 2020.

Revenues from Contracts with Cu

Revenues from Contracts with Customers	9 Months Ended
	Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
Revenues from Contracts with Customers	Revenues from Contracts with Customers Contract Liabilities The following table summarizes the activity of our contract liabilities, which are classified as components of current and long-term deferred revenues, during the nine months ended September 30, 2021: (in millions) Balance as of December 31, 2020 $ 1,312 Cash received in advance and not recognized as revenue 99 Revenue recognized (1) (284) Other (2) (81) Balance as of September 30, 2021 $ 1,046 ____________ (1) Includes $245 million related to Hilton Honors, our guest loyalty program. Revenue recognized during the three months ended September 30, 2021 was $170 million, including $34 million for performance obligations that were satisfied in prior periods as a result of a change to the estimated breakage of Hilton Honors points for which point expirations have been temporarily suspended. During the three and nine months ended September 30, 2020, revenue recognized was $54 million and $164 million, respectively. (2) Primarily represents changes in estimated transaction prices for our performance obligations related to points issued under Hilton Honors, which had no effect on revenues. Hilton Honors Points Pre-Sale In April 2020, we pre-sold Hilton Honors points to American Express for $1.0 billion in cash (the "Honors Points Pre-Sale"). American Express and their respective designees may use the points in connection with Hilton Honors co-branded credit cards and for promotions, rewards and incentive programs or certain other activities that they may establish or engage in from time to time. Upon receipt of the cash, we recognized $636 million in deferred revenues and the remainder in liability for guest loyalty program; see below for additional information on the revenue recognition of the related deferred revenues. Performance Obligations As of September 30, 2021, we had deferred revenues for unsatisfied performance obligations consisting of: (i) $188 million related to Hilton Honors that will be recognized as revenue when the points are redeemed, which we estimate will occur over approximately the next two years; (ii) $236 million related to co-branded credit card arrangements, primarily from the Honors Points Pre-Sale, of which a portion will be recognized as revenue when points are awarded with the remaining portion recognized as revenue when the points are redeemed; and (iii) $622 million related to application, initiation and other fees that is expected to be recognized as revenue over the terms of the related contracts.

Consolidated Variable Interest

Consolidated Variable Interest Entities	9 Months Ended
	Sep. 30, 2021
Consolidated Variable Interest Entities Disclosure [Abstract]
Consolidated Variable Interest Entities	Consolidated Variable Interest Entities As of September 30, 2021 and December 31, 2020, we consolidated two variable interest entities ("VIEs") that each lease a hotel property. We consolidated these VIEs since we are the primary beneficiary, having the power to direct the activities that most significantly affect their economic performance. Additionally, we have the obligation to absorb losses and the right to receive benefits that could be significant to each of the VIEs individually. The assets of our consolidated VIEs are only available to settle the obligations of the respective entities, and the liabilities of the consolidated VIEs are non-recourse to us. Our condensed consolidated balance sheets include the assets and liabilities of these entities, which primarily comprised the following: September 30, December 31, 2021 2020 (in millions) Cash and cash equivalents $ 17 $ 40 Property and equipment, net 63 76 Deferred income tax assets 57 57 Other non-current assets 61 66 Accounts payable, accrued expenses and other 18 27 Long-term debt (1) 181 203 Other long-term liabilities 17 17 ____________ (1) Includes finance lease liabilities of $159 million and $184 million as of September 30, 2021 and December 31, 2020, respectively. As of September 30, 2021, the VIEs had revolving credit facilities with borrowing capacities totaling 4.5 billion Japanese yen (equivalent to $40 million), with 500 million Japanese yen (equivalent to $5 million) drawn under these facilities, resulting in an available borrowing capacity totaling 4.0 billion Japanese yen (equivalent to $35 million). There were no amounts drawn under these facilities as of December 31, 2020 . See Note 5: "Debt" for additional information.

Finite-Lived Intangible Assets

Finite-Lived Intangible Assets	9 Months Ended
	Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Finite-Lived Intangible Assets	Finite-Lived Intangible Assets Our finite-lived intangible assets consist of management and franchise contracts and other intangible assets. Management and franchise contracts, net were as follows: September 30, 2021 Gross Carrying Value Accumulated Amortization Net Carrying Value (in millions) Management contracts recorded at Merger (1) $ 311 $ (271) $ 40 Contract acquisition costs 741 (163) 578 Development commissions and other 138 (26) 112 $ 1,190 $ (460) $ 730 December 31, 2020 Gross Carrying Value Accumulated Amortization Net Carrying Value (in millions) Management contracts recorded at Merger (1) $ 317 $ (261) $ 56 Contract acquisition costs (2) 632 (144) 488 Development commissions and other 132 (23) 109 $ 1,081 $ (428) $ 653 ____________ (1) Represents intangible assets that were initially recorded at their fair value as part of the October 2007 transaction whereby we became a wholly owned subsidiary of affiliates of Blackstone Inc. (the "Merger"). (2) During the three and nine months ended September 30, 2020, we recognized $6 million and $15 million, respectively, of impairment losses related to our contract acquisition costs included in our condensed consolidated statements of operations. Amortization of our finite-lived intangible assets was as follows: Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 (in millions) Recognized in depreciation and amortization expense (1) $ 32 $ 76 $ 103 $ 227 Recognized as a reduction of franchise and licensing fees and base and other management fees 9 7 23 22 ____________ (1) Includes amortization expense of $11 million and $47 million for the three months ended September 30, 2021 and 2020, respectively, and $35 million and $143 million for the nine months ended September 30, 2021 and 2020, respectively, associated with assets that were initially recorded at their fair value at the time of the Merger, some of which fully amortized during 2020.

Debt

Debt	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Debt	Debt Long-term debt balances, including obligations for finance leases, and associated interest rates and maturities as of September 30, 2021, were as follows: September 30, December 31, 2021 2020 (in millions) Senior secured revolving credit facility, due 2024 $ — $ 1,690 Senior secured term loan facility with a rate of 1.84%, due 2026 2,619 2,619 Senior notes with a rate of 5.375%, due 2025 500 500 Senior notes with a rate of 5.125%, due 2026 — 1,500 Senior notes with a rate of 4.875%, due 2027 600 600 Senior notes with a rate of 5.750%, due 2028 500 500 Senior notes with a rate of 3.750%, due 2029 800 800 Senior notes with a rate of 4.875%, due 2030 1,000 1,000 Senior notes with a rate of 4.000%, due 2031 1,100 1,100 Senior notes with a rate of 3.625%, due 2032 1,500 — Finance lease liabilities with a weighted average rate of 5.89%, due 2021 to 2030 216 252 Other debt of consolidated VIEs with a weighted average rate of 2.69%, due 2022 and 2026 22 19 8,857 10,580 Less: unamortized deferred financing costs and discount (90) (93) Less: current maturities of long-term debt (1) (54) (56) $ 8,713 $ 10,431 ____________ (1) Represents current maturities of finance lease liabilities and, as of September 30, 2021, the outstanding borrowings under the revolving credit facility of a consolidated VIE. Our senior secured credit facilities consist of a $1.75 billion senior secured revolving credit facility (the "Revolving Credit Facility") and a senior secured term loan facility (the "Term Loan"). The obligations of our senior secured credit facilities are unconditionally and irrevocably guaranteed by the Parent and substantially all of its direct and indirect wholly owned domestic restricted subsidiaries. During the nine months ended September 30, 2021, we fully repaid the $1,690 million outstanding debt balance on the Revolving Credit Facility. As of September 30, 2021, we had $60 million of letters of credit outstanding on the Revolving Credit Facility, resulting in an available borrowing capacity of $1,690 million. In February 2021, we issued $1.5 billion aggregate principal amount of 3.625% Senior Notes due 2032 (the "2032 Senior Notes") and incurred $21 million of debt issuance costs. Interest on the 2032 Senior Notes is payable semi-annually in arrears on February 15 and August 15 of each year, beginning August 15, 2021. We used the net proceeds from the issuance, together with available cash, to redeem all $1.5 billion in aggregate principal amount of our outstanding 5.125% Senior Notes due 2026 (the "2026 Senior Notes"), plus accrued and unpaid interest. In connection with the redemption, we paid a redemption premium of $55 million and accelerated the recognition of the unamortized deferred financing costs related to the 2026 Senior Notes of $14 million, which were both included in loss on debt extinguishment in our condensed consolidated statement of operations for the nine months ended September 30, 2021. In August 2021, one of our consolidated VIEs borrowed 500 million Japanese yen (equivalent to $5 million as of September 30, 2021) on its revolving credit facility, which has a maturity date of June 2022. See Note 3: "Consolidated Variable Interest Entities" for additional information.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The fair values of certain financial instruments and the hierarchy level we used to estimate the fair values are shown below: September 30, 2021 Hierarchy Level Carrying Value Level 1 Level 2 Level 3 (in millions) Assets: Cash equivalents $ 624 $ — $ 624 $ — Liabilities: Long-term debt (1) 8,529 6,171 — 2,601 Interest rate swaps 66 — 66 — December 31, 2020 Hierarchy Level Carrying Value Level 1 Level 2 Level 3 (in millions) Assets: Cash equivalents $ 2,270 $ — $ 2,270 $ — Liabilities: Long-term debt (1) 10,216 6,366 — 4,293 Interest rate swaps 82 — 82 — ____________ (1) The carrying values include unamortized deferred financing costs and discount. The carrying values and fair values exclude finance lease liabilities and other debt of consolidated VIEs. We measure our interest rate swaps at fair value, which was determined using a discounted cash flow analysis that reflects the contractual terms of the interest rate swaps, including the period to maturity, and uses observable market-based inputs of similar instruments, including interest rate curves, as applicable. Our interest rate swaps are included in other long-term liabilities in our condensed consolidated balance sheets. The fair values of financial instruments not included in these tables are estimated to be equal to their carrying values as of September 30, 2021 and December 31, 2020.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company's income tax provision for interim reporting periods has historically been calculated by applying an estimate of the annual effective income tax rate for the full year to "ordinary" income (loss) for the interim reporting period, which is calculated as pre-tax income (loss) excluding unusual and infrequently occurring discrete items. For the nine months ended September 30, 2021, we calculated the income tax provision using a discrete effective income tax rate method as if the interim year to date period was an annual period. We determined that since normal changes in estimated "ordinary" income (loss) would result in disproportionate changes in the estimated annual effective income tax rate, the Company's historical method of calculating its income tax provision for interim reporting periods would not provide a reliable estimate for the nine months ended September 30, 2021. In June 2021, the United Kingdom's ("U.K.") Finance Act 2021 (the "U.K. Finance Act") was enacted, which included, among other items, an increase to the U.K. corporate income tax rate from 19 percent to 25 percent. We remeasured our U.K. deferred tax assets and other tax liabilities to the new rate, resulting in a $30 million tax benefit recognized during the nine months ended September 30, 2021. Due to this remeasurement, our effective income tax rate on consolidated pre-tax income is lower than the combined U.S. statutory rate for the nine months ended September 30, 2021. We file income tax returns, including returns for our subsidiaries, with federal, state, local and foreign tax jurisdictions. We are under regular and recurring audit by the Internal Revenue Service ("IRS") and other taxing authorities on open tax positions. The timing of the resolution of tax audits is highly uncertain, as are the amounts, if any, that may ultimately be paid upon such resolution. Changes may result from the conclusion of ongoing audits, appeals or litigation in federal, state, local and foreign tax jurisdictions or from the resolution of various proceedings between the U.S. and foreign tax authorities. As of September 30, 2021, we remain subject to federal and state examinations of our income tax returns for tax years from 2005 through 2020 and foreign examinations of our income tax returns for tax years from 1996 through 2020. Our total unrecognized tax benefits as of September 30, 2021 and December 31, 2020 were $438 million and $451 million, respectively. As of September 30, 2021 and December 31, 2020, we had accrued approximately $71 million and $65 million, respectively, for interest and penalties related to these unrecognized tax benefits. Included in the balances of unrecognized tax benefits as of September 30, 2021 and December 31, 2020 were $401 million and $400 million, respectively, associated with positions that, if favorably resolved, would provide a benefit to our effective income tax rate. In prior periods, we received 30-day Letters from the IRS and the Revenue Agents Reports ("RARs") for the 2006 through the 2013 tax years. We disagreed with several of the proposed adjustments in the RARs for those respective years and filed formal appeals protests with the IRS. The unsettled proposed adjustments sought by the IRS for these open audit periods would result in additional U.S. federal taxes owed of approximately $817 million, excluding interest and penalties and potential state income taxes. We disagree with the IRS's position on each of their assertions and are vigorously contesting them. However, based on continuing appeals process discussions with the IRS, we believe that it is more likely than not that we will not recognize the full benefit related to certain of the issues being appealed. Accordingly, as of September 30, 2021, we had recorded $86 million of unrecognized tax benefits related to these issues.

Share-Based Compensation

Share-Based Compensation	9 Months Ended
	Sep. 30, 2021
Share-based Payment Arrangement [Abstract]
Share-Based Compensation	Share-Based Compensation Under the Hilton 2017 Omnibus Incentive Plan (the "2017 Plan"), we award time-vesting restricted stock units ("RSUs"), nonqualified stock options ("options") and performance-vesting RSUs ("performance shares") to our eligible employees. We recognized share-based compensation expense of $52 million and $25 million during the three months ended September 30, 2021 and 2020, respectively, and $144 million and $37 million during the nine months ended September 30, 2021 and 2020, respectively, which included amounts reimbursed by hotel owners. The expenses recognized during the three and nine months ended September 30, 2020 were net of the reversal of expenses recognized in prior periods as a result of the determination that the performance conditions of the performance shares that were originally awarded in 2018, 2019 and 2020 were no longer probable of achievement. Refer to "Performance Shares" below for additional information. As of September 30, 2021, unrecognized compensation costs for unvested awards under the 2017 Plan were approximately $157 million, which are expected to be recognized over a weighted-average period of 1.7 years on a straight-line basis. RSUs During the nine months ended September 30, 2021, we granted 587,000 RSUs with a weighted average grant date fair value per share of $123.09, which vest in equal annual installments over two three Options During the nine months ended September 30, 2021, we granted 361,000 options with an exercise price per share of $123.13, which vest in equal annual installments over three years from the date of grant and terminate 10 years from the date of grant or earlier if the individual’s service terminates under certain circumstances. The grant date fair value per share of the options granted during the nine months ended September 30, 2021 was $41.15, which was determined using the Black-Scholes-Merton option-pricing model with the following assumptions: Expected volatility (1) 33.13 % Dividend yield (2) — % Risk-free rate (3) 0.92 % Expected term (in years) (4) 6.0 ____________ (1) Estimated using a blended approach of historical and implied volatility. Historical volatility is based on the historical movement of Hilton's stock price for a period that corresponds to the expected life of the option. (2) We have historically paid regular quarterly cash dividends. However, in March 2020, we suspended the declaration and payment of dividends as part of certain proactive measures we took to secure our liquidity position in response to the COVID-19 pandemic, and, at the time of the grant, we could not estimate when the payment of dividends would resume. (3) Based on the yields of U.S. Department of Treasury instruments with similar expected lives. (4) Estimated using the average of the vesting periods and the contractual term of the options. Performance Shares In December 2020, we modified our performance shares that were originally awarded in 2018, 2019 and 2020 in response to the COVID-19 pandemic and its negative impact on the hospitality industry and, ultimately, the Company's performance. The modifications were structured to reward for results achieved prior to the COVID-19 pandemic, retain senior business leaders and incentivize for the recovery efforts by utilizing metrics most meaningful in assessing our performance during our recovery from the adverse impact of the pandemic. Under the terms of the modified awards, a portion of the outstanding performance shares granted in 2019 were modified to vest based on performance prior to the pandemic and continued service, and the remaining portion of those performance shares, as well as the shares granted in 2020, were converted to performance shares that will vest based on different performance measures from those under the original award agreements. The modified terms did not change the vesting schedules of the original awards, and, as such, the performance shares that were originally awarded in 2018 vested in December 2020. During the nine months ended September 30, 2021, we granted 241,000 performance shares with a grant date fair value per share of $123.13. We recognize compensation expense based on the total number of performance shares that are expected to vest as determined by the performance measures' achievement factors, which are estimated each reporting period and range from zero percent to 200 percent, with 100 percent being the target. As of September 30, 2021, we determined that the performance measures for all of the outstanding performance shares were probable of achievement, with the applicable achievement factors estimated to be between the target and maximum achievement percentages.

Earnings (Loss) Per Share

Earnings (Loss) Per Share	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Earnings (Loss) Per Share	Earnings (Loss) Per Share The following table presents the calculation of basic and diluted earnings (loss) per share ("EPS"): Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 (in millions, except per share amounts) Basic EPS: Numerator: Net income (loss) attributable to Hilton stockholders $ 241 $ (79) $ 263 $ (491) Denominator: Weighted average shares outstanding 279 277 278 277 Basic EPS $ 0.86 $ (0.29) $ 0.94 $ (1.77) Diluted EPS: Numerator: Net income (loss) attributable to Hilton stockholders $ 241 $ (79) $ 263 $ (491) Denominator: Weighted average shares outstanding (1) 281 277 281 277 Diluted EPS (1) $ 0.86 $ (0.29) $ 0.94 $ (1.77) ____________ (1) Certain shares related to share-based compensation were excluded from the calculation of diluted EPS because their effect would have been anti-dilutive under the treasury stock method, including less than 1 million shares for both the three and nine months ended September 30, 2021, and, as revised, 3 million shares for both the three and nine months ended September 30, 2020. The dilutive shares related to share-based compensation included in the previously reported weighted average shares outstanding of 279 million for both the three and nine months ended September 30, 2020 were revised in the current period presentation, as the previously reported dilutive shares were determined to be anti-dilutive as a result of the net loss attributable to Hilton stockholders reported during those periods. The result of the revision is an immaterial decrease in the previously reported diluted EPS for the three and nine months ended September 30, 2020 of $0.01.

Stockholders' Equity (Deficit)

Stockholders' Equity (Deficit) and Accumulated Other Comprehensive Loss	9 Months Ended
	Sep. 30, 2021
Stockholders' Equity Note [Abstract]
Stockholders' Equity (Deficit) and Accumulated Other Comprehensive Loss	Stockholders' Equity (Deficit) and Accumulated Other Comprehensive Loss The following tables present the changes in the components of stockholders' equity (deficit): Three Months Ended September 30, 2021 Equity (Deficit) Attributable to Hilton Stockholders Treasury Stock Additional Accumulated Deficit Accumulated Common Stock Noncontrolling Shares Amount Total (in millions) Balance as of June 30, 2021 279 $ 3 $ (4,447) $ 10,603 $ (6,710) $ (866) $ 1 $ (1,416) Net income (loss) — — — — 241 — (1) 240 Other comprehensive loss — — — — — (3) — (3) Share-based compensation — — — 51 — — — 51 Balance as of September 30, 2021 279 $ 3 $ (4,447) $ 10,654 $ (6,469) $ (869) $ — $ (1,128) Three Months Ended September 30, 2020 Equity (Deficit) Attributable to Hilton Stockholders Treasury Stock Additional Accumulated Deficit Accumulated Common Stock Noncontrolling Shares Amount Total (in millions) Balance as of June 30, 2020 277 $ 3 $ (4,457) $ 10,465 $ (6,429) $ (881) $ 8 $ (1,291) Net loss — — — — (79) — (2) (81) Other comprehensive income — — — — — 28 — 28 Share-based compensation — — — 26 — — — 26 Distributions — — — — — — (1) (1) Balance as of September 30, 2020 277 $ 3 $ (4,457) $ 10,491 $ (6,508) $ (853) $ 5 $ (1,319) Nine Months Ended September 30, 2021 Equity (Deficit) Attributable to Hilton Stockholders Treasury Stock Additional Accumulated Deficit Accumulated Common Stock Noncontrolling Shares Amount Total (in millions) Balance as of December 31, 2020 278 $ 3 $ (4,453) $ 10,552 $ (6,732) $ (860) $ 4 $ (1,486) Net income (loss) — — — — 263 — (4) 259 Other comprehensive loss — — — — — (9) — (9) Share-based compensation 1 — 6 102 — — — 108 Balance as of September 30, 2021 279 $ 3 $ (4,447) $ 10,654 $ (6,469) $ (869) $ — $ (1,128) Nine Months Ended September 30, 2020 Equity (Deficit) Attributable to Hilton Stockholders Treasury Stock Additional Accumulated Deficit Accumulated Common Stock Noncontrolling Shares Amount Total (in millions) Balance as of December 31, 2019 279 $ 3 $ (4,169) $ 10,489 $ (5,965) $ (840) $ 10 $ (472) Net loss — — — — (491) — (4) (495) Other comprehensive loss — — — — — (13) — (13) Dividends (1) — — — — (42) — — (42) Repurchases of common stock (1) (3) — (279) — — — — (279) Share-based compensation 1 — (9) 2 — — — (7) Distributions — — — — — — (1) (1) Cumulative effect of the adoption of ASU 2016-13 (2) — — — — (10) — — (10) Balance as of September 30, 2020 277 $ 3 $ (4,457) $ 10,491 $ (6,508) $ (853) $ 5 $ (1,319) ____________ (1) In March 2020, we suspended share repurchases and the declaration of dividends. (2) Relates to Accounting Standards Update No. 2016-13 ("ASU 2016-13"), Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments , that was adopted on January 1, 2020. The changes in the components of accumulated other comprehensive loss, net of taxes, were as follows: Currency Translation Adjustment (1) Pension Liability Adjustment (2) Cash Flow Hedge Adjustment (3) Total (in millions) Balance as of December 31, 2020 $ (511) $ (289) $ (60) $ (860) Other comprehensive loss before reclassifications (32) (2) (4) (38) Amounts reclassified from accumulated other comprehensive loss 6 8 15 29 Net current period other comprehensive income (loss) (26) 6 11 (9) Balance as of September 30, 2021 $ (537) $ (283) $ (49) $ (869) Currency Translation Adjustment (1) Pension Liability Adjustment (2) Cash Flow Hedge Adjustment (3) Total (in millions) Balance as of December 31, 2019 $ (549) $ (269) $ (22) $ (840) Other comprehensive income (loss) before reclassifications 16 (3) (35) (22) Amounts reclassified from accumulated other comprehensive loss 5 8 (4) 9 Net current period other comprehensive income (loss) 21 5 (39) (13) Balance as of September 30, 2020 $ (528) $ (264) $ (61) $ (853) ____________ (1) Includes net investment hedge gains and intra-entity foreign currency transactions that are of a long-term investment nature. Amounts reclassified during the nine months ended September 30, 2021 and 2020 relate to the liquidation of investments in foreign entities and were recognized in loss on sale of assets, net and loss on foreign currency transactions, respectively, in our condensed consolidated statements of operations. (2) Amounts reclassified related to the amortization of prior service cost (credit) and amortization of net loss and were recognized in other non-operating income (loss), net in our condensed consolidated statements of operations. (3) Amounts reclassified are the result of hedging instruments, including: (a) interest rate swaps, inclusive of interest rate swaps that were dedesignated and subsequently settled, with related amounts recognized in interest expense in our condensed consolidated statements of operations and (b) forward contracts that hedge our foreign currency denominated fees, with related amounts recognized in franchise and licensing fees, base and other management fees and other revenues from managed and franchised properties in our condensed consolidated statements of operations.

Business Segments

Business Segments	9 Months Ended
	Sep. 30, 2021
Segment Reporting [Abstract]
Business Segments	Business Segments We are a hospitality company with operations organized in two distinct operating segments: (i) management and franchise and (ii) ownership. These segments are managed and reported separately because of their distinct economic characteristics. The management and franchise segment includes all of the hotels we manage for third-party owners, as well as all franchised hotels that license our brands and where we provide other prescribed services, but where the day-to-day services of the hotels are operated or managed by someone other than us. This segment also earns licensing fees from Hilton Grand Vacations Inc. ("HGV") and strategic partnerships, including co-branded credit card arrangements, for the right to use certain Hilton marks and IP, as well as fees for managing properties in our ownership segment. As of September 30, 2021, this segment included 735 managed hotels and 5,905 franchised hotels consisting of 1,033,282 total rooms. As a result of the COVID-19 pandemic, during the nine months ended September 30, 2021 and 2020, the operations of certain hotels in our management and franchise segment were suspended for some period of time. As of September 30, 2021, all but 87 of these hotels were open. As of September 30, 2021, our ownership segment included 59 properties totaling 19,056 rooms. The segment comprised 51 hotels that we leased, one hotel owned by a consolidated non-wholly owned entity, two hotels that were each leased by a consolidated VIE and five hotels owned or leased by unconsolidated affiliates. In March 2020, as a result of the COVID-19 pandemic, certain hotels in our ownership segment began suspending operations; however, as of September 30, 2021, with the exception of one hotel owned by an unconsolidated affiliate, which reopened in October 2021, all of the hotels in our ownership segment were open. During 2020, we recognized impairment losses in our condensed consolidated statements of operations related to certain hotel properties in our ownership segment under operating and finance leases, which included $51 million of operating lease right-of-use ("ROU") assets and $46 million of other intangible assets, net during the nine months ended September 30, 2020 and, during the three and nine months ended September 30, 2020, $3 million and $24 million of property and equipment, net, respectively, of which $2 million and $4 million related to finance lease ROU assets, respectively. The performance of our operating segments is evaluated primarily on operating income (loss), without allocating amortization of contract acquisition costs, other revenues and other expenses from managed and franchised properties, other revenues, other expenses or general and administrative expenses. The following table presents revenues for our reportable segments, reconciled to consolidated amounts: Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 (in millions) Franchise and licensing fees $ 455 $ 244 $ 1,072 $ 720 Base and other management fees (1) 57 30 135 108 Incentive management fees 26 7 60 25 Management and franchise 538 281 1,267 853 Ownership 199 94 376 335 Segment revenues 737 375 1,643 1,188 Amortization of contract acquisition costs (9) (7) (23) (22) Other revenues 18 19 56 52 Direct reimbursements from managed and franchised properties (2) 446 244 998 1,185 Indirect reimbursements from managed and franchised properties (2) 560 304 1,284 1,016 Intersegment fees elimination (1) (3) (2) (6) (2) Total revenues $ 1,749 $ 933 $ 3,952 $ 3,417 ____________ (1) Includes management, royalty and IP fees charged to our ownership segment by our management and franchise segment, which were eliminated in our condensed consolidated statements of operations. (2) Included in other revenues from managed and franchised properties in our condensed consolidated statements of operations. The following table presents operating income (loss) for our reportable segments, reconciled to consolidated income (loss) before income taxes: Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 (in millions) Management and franchise (1) $ 538 $ 281 $ 1,267 $ 853 Ownership (1) (4) (52) (82) (145) Segment operating income 534 229 1,185 708 Amortization of contract acquisition costs (9) (7) (23) (22) Other revenues, less other expenses 6 (2) 25 4 Net other revenues (expenses) from managed and franchised properties 62 (44) (57) (281) Depreciation and amortization expenses (46) (90) (143) (269) General and administrative expenses (107) (66) (302) (189) Reorganization costs — — — (38) Impairment losses — (9) — (136) Loss on sale of assets, net (8) — (8) — Operating income (loss) 432 11 677 (223) Interest expense (98) (116) (302) (316) Gain (loss) on foreign currency transactions — (12) 1 (16) Loss on debt extinguishment — — (69) — Other non-operating income (loss), net 6 3 16 (20) Income (loss) before income taxes $ 340 $ (114) $ 323 $ (575) ____________ (1) Includes management, royalty and IP fees charged to our ownership segment by our management and franchise segment, which were eliminated in our condensed consolidated statements of operations.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies We provide performance guarantees to certain owners of hotels that we operate under management contracts. Most of these guarantees do not require us to fund shortfalls, but allow for termination of the contract if specified operating performance levels are not achieved. However, in limited cases, we are obligated to fund performance shortfalls, creating variable interests in the ownership entities of the hotels, of which we are not the primary beneficiary. As of September 30, 2021, we had six performance guarantees, with expirations ranging from 2023 to 2043, and possible cash outlays totaling approximately $20 million. Our obligations under these guarantees in future periods are dependent on the operating performance level of the related hotel over the remaining term of the performance guarantee. We have included the impact of the COVID-19 pandemic on these hotels in our expectations of their future operating performance and, as of September 30, 2021 and December 31, 2020, we accrued current liabilities of $2 million and $7 million, respectively, for our performance guarantees. We may enter into new contracts containing performance guarantees in the future, which could increase our possible cash outlays. As of September 30, 2021, we guaranteed a $10 million loan, which matures in 2023, for two hotels that we franchise. Additionally, we have an agreement with the owner of a hotel that we manage to finance capital expenditures at the hotel, contingent on certain criteria imposed on the owner. As of September 30, 2021, we had remaining possible cash outlays related to this agreement of approximately $10 million; however, we cannot currently estimate the timing of the payments or if they will be made at all, since we will not be obligated to fund such capital expenditures if certain terms of the agreement are not met. In June 2021, Hilton provided two letters of credit totaling $26 million to the owner of a hotel that we will manage to satisfy debt service reserve requirements for their debt with a third party. Each letter of credit will expire at the earlier of the date at which it is fully drawn or 2031. We receive fees from managed and franchised properties to operate our marketing, sales and brand programs on behalf of hotel owners, which are based on the underlying hotel's sales or usage. As a result of the adverse impact of the COVID-19 pandemic on our hotels' sales and, ultimately, the program fees we earn, our costs to operate these programs have outpaced the fees received, which, as of September 30, 2021, resulted in $13 million of amounts expended and recognized on behalf of these programs exceeding the amounts collected. As of December 31, 2020, we had collected and recognized an aggregate of $5 million in excess of amounts expended, across all programs. We are involved in various claims and lawsuits arising in the ordinary course of business, some of which include claims for substantial sums. While the ultimate results of claims and litigation cannot be predicted with certainty, we expect that the ultimate resolution of all pending or threatened claims and litigation as of September 30, 2021 will not have a material adverse effect on our consolidated financial position, results of operations or cash flows.

Revenues from Contracts with _2

Revenues from Contracts with Customers (Tables)	9 Months Ended
	Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
Contract Liabilities	The following table summarizes the activity of our contract liabilities, which are classified as components of current and long-term deferred revenues, during the nine months ended September 30, 2021: (in millions) Balance as of December 31, 2020 $ 1,312 Cash received in advance and not recognized as revenue 99 Revenue recognized (1) (284) Other (2) (81) Balance as of September 30, 2021 $ 1,046 ____________ (1) Includes $245 million related to Hilton Honors, our guest loyalty program. Revenue recognized during the three months ended September 30, 2021 was $170 million, including $34 million for performance obligations that were satisfied in prior periods as a result of a change to the estimated breakage of Hilton Honors points for which point expirations have been temporarily suspended. During the three and nine months ended September 30, 2020, revenue recognized was $54 million and $164 million, respectively. (2) Primarily represents changes in estimated transaction prices for our performance obligations related to points issued under Hilton Honors, which had no effect on revenues.

Consolidated Variable Interes_2

Consolidated Variable Interest Entities (Tables)	9 Months Ended
	Sep. 30, 2021
Consolidated Variable Interest Entities Disclosure [Abstract]
Schedule of Variable Interest Entities	Our condensed consolidated balance sheets include the assets and liabilities of these entities, which primarily comprised the following: September 30, December 31, 2021 2020 (in millions) Cash and cash equivalents $ 17 $ 40 Property and equipment, net 63 76 Deferred income tax assets 57 57 Other non-current assets 61 66 Accounts payable, accrued expenses and other 18 27 Long-term debt (1) 181 203 Other long-term liabilities 17 17 ____________ (1) Includes finance lease liabilities of $159 million and $184 million as of September 30, 2021 and December 31, 2020, respectively. As of September 30, 2021, the VIEs had revolving credit facilities with borrowing capacities totaling 4.5 billion Japanese yen (equivalent to $40 million), with 500 million Japanese yen (equivalent to $5 million) drawn under these facilities, resulting in an available borrowing capacity totaling 4.0 billion Japanese yen (equivalent to $35 million). There were no amounts drawn under these facilities as of December 31, 2020 . See Note 5: "Debt" for additional information.

Finite-Lived Intangible Assets

Finite-Lived Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule Of Management and Franchise Contracts	Management and franchise contracts, net were as follows: September 30, 2021 Gross Carrying Value Accumulated Amortization Net Carrying Value (in millions) Management contracts recorded at Merger (1) $ 311 $ (271) $ 40 Contract acquisition costs 741 (163) 578 Development commissions and other 138 (26) 112 $ 1,190 $ (460) $ 730 December 31, 2020 Gross Carrying Value Accumulated Amortization Net Carrying Value (in millions) Management contracts recorded at Merger (1) $ 317 $ (261) $ 56 Contract acquisition costs (2) 632 (144) 488 Development commissions and other 132 (23) 109 $ 1,081 $ (428) $ 653 ____________ (1) Represents intangible assets that were initially recorded at their fair value as part of the October 2007 transaction whereby we became a wholly owned subsidiary of affiliates of Blackstone Inc. (the "Merger").
Amortization of Finite-Lived Intangible Assets	Amortization of our finite-lived intangible assets was as follows: Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 (in millions) Recognized in depreciation and amortization expense (1) $ 32 $ 76 $ 103 $ 227 Recognized as a reduction of franchise and licensing fees and base and other management fees 9 7 23 22 ____________ (1) Includes amortization expense of $11 million and $47 million for the three months ended September 30, 2021 and 2020, respectively, and $35 million and $143 million for the nine months ended September 30, 2021 and 2020, respectively, associated with assets that were initially recorded at their fair value at the time of the Merger, some of which fully amortized during 2020.

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Long-term Debt	Long-term debt balances, including obligations for finance leases, and associated interest rates and maturities as of September 30, 2021, were as follows: September 30, December 31, 2021 2020 (in millions) Senior secured revolving credit facility, due 2024 $ — $ 1,690 Senior secured term loan facility with a rate of 1.84%, due 2026 2,619 2,619 Senior notes with a rate of 5.375%, due 2025 500 500 Senior notes with a rate of 5.125%, due 2026 — 1,500 Senior notes with a rate of 4.875%, due 2027 600 600 Senior notes with a rate of 5.750%, due 2028 500 500 Senior notes with a rate of 3.750%, due 2029 800 800 Senior notes with a rate of 4.875%, due 2030 1,000 1,000 Senior notes with a rate of 4.000%, due 2031 1,100 1,100 Senior notes with a rate of 3.625%, due 2032 1,500 — Finance lease liabilities with a weighted average rate of 5.89%, due 2021 to 2030 216 252 Other debt of consolidated VIEs with a weighted average rate of 2.69%, due 2022 and 2026 22 19 8,857 10,580 Less: unamortized deferred financing costs and discount (90) (93) Less: current maturities of long-term debt (1) (54) (56) $ 8,713 $ 10,431 ____________ (1) Represents current maturities of finance lease liabilities and, as of September 30, 2021, the outstanding borrowings under the revolving credit facility of a consolidated VIE.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements - Recurring & Disclosure	The fair values of certain financial instruments and the hierarchy level we used to estimate the fair values are shown below: September 30, 2021 Hierarchy Level Carrying Value Level 1 Level 2 Level 3 (in millions) Assets: Cash equivalents $ 624 $ — $ 624 $ — Liabilities: Long-term debt (1) 8,529 6,171 — 2,601 Interest rate swaps 66 — 66 — December 31, 2020 Hierarchy Level Carrying Value Level 1 Level 2 Level 3 (in millions) Assets: Cash equivalents $ 2,270 $ — $ 2,270 $ — Liabilities: Long-term debt (1) 10,216 6,366 — 4,293 Interest rate swaps 82 — 82 — ____________ (1) The carrying values include unamortized deferred financing costs and discount. The carrying values and fair values exclude finance lease liabilities and other debt of consolidated VIEs.

Share-Based Compensation (Table

Share-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2021
Share-based Payment Arrangement [Abstract]
Schedule of Stock Options Valuation Assumptions	The grant date fair value per share of the options granted during the nine months ended September 30, 2021 was $41.15, which was determined using the Black-Scholes-Merton option-pricing model with the following assumptions: Expected volatility (1) 33.13 % Dividend yield (2) — % Risk-free rate (3) 0.92 % Expected term (in years) (4) 6.0 ____________ (1) Estimated using a blended approach of historical and implied volatility. Historical volatility is based on the historical movement of Hilton's stock price for a period that corresponds to the expected life of the option. (2) We have historically paid regular quarterly cash dividends. However, in March 2020, we suspended the declaration and payment of dividends as part of certain proactive measures we took to secure our liquidity position in response to the COVID-19 pandemic, and, at the time of the grant, we could not estimate when the payment of dividends would resume. (3) Based on the yields of U.S. Department of Treasury instruments with similar expected lives. (4) Estimated using the average of the vesting periods and the contractual term of the options.

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Basic and Diluted Earnings (Loss) Per Share	The following table presents the calculation of basic and diluted earnings (loss) per share ("EPS"): Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 (in millions, except per share amounts) Basic EPS: Numerator: Net income (loss) attributable to Hilton stockholders $ 241 $ (79) $ 263 $ (491) Denominator: Weighted average shares outstanding 279 277 278 277 Basic EPS $ 0.86 $ (0.29) $ 0.94 $ (1.77) Diluted EPS: Numerator: Net income (loss) attributable to Hilton stockholders $ 241 $ (79) $ 263 $ (491) Denominator: Weighted average shares outstanding (1) 281 277 281 277 Diluted EPS (1) $ 0.86 $ (0.29) $ 0.94 $ (1.77) ____________ (1) Certain shares related to share-based compensation were excluded from the calculation of diluted EPS because their effect would have been anti-dilutive under the treasury stock method, including less than 1 million shares for both the three and nine months ended September 30, 2021, and, as revised, 3 million shares for both the three and nine months ended September 30, 2020. The dilutive shares related to share-based compensation included in the previously reported weighted average shares outstanding of 279 million for both the three and nine months ended September 30, 2020 were revised in the current period presentation, as the previously reported dilutive shares were determined to be anti-dilutive as a result of the net loss attributable to Hilton stockholders reported during those periods. The result of the revision is an immaterial decrease in the previously reported diluted EPS for the three and nine months ended September 30, 2020 of $0.01.

Stockholders' Equity (Deficit_2

Stockholders' Equity (Deficit) and Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Sep. 30, 2021
Stockholders' Equity Note [Abstract]
Schedule of Stockholders' Equity (Deficit)	The following tables present the changes in the components of stockholders' equity (deficit): Three Months Ended September 30, 2021 Equity (Deficit) Attributable to Hilton Stockholders Treasury Stock Additional Accumulated Deficit Accumulated Common Stock Noncontrolling Shares Amount Total (in millions) Balance as of June 30, 2021 279 $ 3 $ (4,447) $ 10,603 $ (6,710) $ (866) $ 1 $ (1,416) Net income (loss) — — — — 241 — (1) 240 Other comprehensive loss — — — — — (3) — (3) Share-based compensation — — — 51 — — — 51 Balance as of September 30, 2021 279 $ 3 $ (4,447) $ 10,654 $ (6,469) $ (869) $ — $ (1,128) Three Months Ended September 30, 2020 Equity (Deficit) Attributable to Hilton Stockholders Treasury Stock Additional Accumulated Deficit Accumulated Common Stock Noncontrolling Shares Amount Total (in millions) Balance as of June 30, 2020 277 $ 3 $ (4,457) $ 10,465 $ (6,429) $ (881) $ 8 $ (1,291) Net loss — — — — (79) — (2) (81) Other comprehensive income — — — — — 28 — 28 Share-based compensation — — — 26 — — — 26 Distributions — — — — — — (1) (1) Balance as of September 30, 2020 277 $ 3 $ (4,457) $ 10,491 $ (6,508) $ (853) $ 5 $ (1,319) Nine Months Ended September 30, 2021 Equity (Deficit) Attributable to Hilton Stockholders Treasury Stock Additional Accumulated Deficit Accumulated Common Stock Noncontrolling Shares Amount Total (in millions) Balance as of December 31, 2020 278 $ 3 $ (4,453) $ 10,552 $ (6,732) $ (860) $ 4 $ (1,486) Net income (loss) — — — — 263 — (4) 259 Other comprehensive loss — — — — — (9) — (9) Share-based compensation 1 — 6 102 — — — 108 Balance as of September 30, 2021 279 $ 3 $ (4,447) $ 10,654 $ (6,469) $ (869) $ — $ (1,128) Nine Months Ended September 30, 2020 Equity (Deficit) Attributable to Hilton Stockholders Treasury Stock Additional Accumulated Deficit Accumulated Common Stock Noncontrolling Shares Amount Total (in millions) Balance as of December 31, 2019 279 $ 3 $ (4,169) $ 10,489 $ (5,965) $ (840) $ 10 $ (472) Net loss — — — — (491) — (4) (495) Other comprehensive loss — — — — — (13) — (13) Dividends (1) — — — — (42) — — (42) Repurchases of common stock (1) (3) — (279) — — — — (279) Share-based compensation 1 — (9) 2 — — — (7) Distributions — — — — — — (1) (1) Cumulative effect of the adoption of ASU 2016-13 (2) — — — — (10) — — (10) Balance as of September 30, 2020 277 $ 3 $ (4,457) $ 10,491 $ (6,508) $ (853) $ 5 $ (1,319) ____________ (1) In March 2020, we suspended share repurchases and the declaration of dividends. (2) Relates to Accounting Standards Update No. 2016-13 ("ASU 2016-13"), Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments , that was adopted on January 1, 2020.
Schedule of Accumulated Other Comprehensive Loss	The changes in the components of accumulated other comprehensive loss, net of taxes, were as follows: Currency Translation Adjustment (1) Pension Liability Adjustment (2) Cash Flow Hedge Adjustment (3) Total (in millions) Balance as of December 31, 2020 $ (511) $ (289) $ (60) $ (860) Other comprehensive loss before reclassifications (32) (2) (4) (38) Amounts reclassified from accumulated other comprehensive loss 6 8 15 29 Net current period other comprehensive income (loss) (26) 6 11 (9) Balance as of September 30, 2021 $ (537) $ (283) $ (49) $ (869) Currency Translation Adjustment (1) Pension Liability Adjustment (2) Cash Flow Hedge Adjustment (3) Total (in millions) Balance as of December 31, 2019 $ (549) $ (269) $ (22) $ (840) Other comprehensive income (loss) before reclassifications 16 (3) (35) (22) Amounts reclassified from accumulated other comprehensive loss 5 8 (4) 9 Net current period other comprehensive income (loss) 21 5 (39) (13) Balance as of September 30, 2020 $ (528) $ (264) $ (61) $ (853) ____________ (1) Includes net investment hedge gains and intra-entity foreign currency transactions that are of a long-term investment nature. Amounts reclassified during the nine months ended September 30, 2021 and 2020 relate to the liquidation of investments in foreign entities and were recognized in loss on sale of assets, net and loss on foreign currency transactions, respectively, in our condensed consolidated statements of operations. (2) Amounts reclassified related to the amortization of prior service cost (credit) and amortization of net loss and were recognized in other non-operating income (loss), net in our condensed consolidated statements of operations. (3) Amounts reclassified are the result of hedging instruments, including: (a) interest rate swaps, inclusive of interest rate swaps that were dedesignated and subsequently settled, with related amounts recognized in interest expense in our condensed consolidated statements of operations and (b) forward contracts that hedge our foreign currency denominated fees, with related amounts recognized in franchise and licensing fees, base and other management fees and other revenues from managed and franchised properties in our condensed consolidated statements of operations.

Business Segments (Tables)

Business Segments (Tables)	9 Months Ended
	Sep. 30, 2021
Segment Reporting [Abstract]
Reconciliation of Revenue from Segment Amounts to Consolidated Amounts	The following table presents revenues for our reportable segments, reconciled to consolidated amounts: Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 (in millions) Franchise and licensing fees $ 455 $ 244 $ 1,072 $ 720 Base and other management fees (1) 57 30 135 108 Incentive management fees 26 7 60 25 Management and franchise 538 281 1,267 853 Ownership 199 94 376 335 Segment revenues 737 375 1,643 1,188 Amortization of contract acquisition costs (9) (7) (23) (22) Other revenues 18 19 56 52 Direct reimbursements from managed and franchised properties (2) 446 244 998 1,185 Indirect reimbursements from managed and franchised properties (2) 560 304 1,284 1,016 Intersegment fees elimination (1) (3) (2) (6) (2) Total revenues $ 1,749 $ 933 $ 3,952 $ 3,417 ____________ (1) Includes management, royalty and IP fees charged to our ownership segment by our management and franchise segment, which were eliminated in our condensed consolidated statements of operations. (2) Included in other revenues from managed and franchised properties in our condensed consolidated statements of operations.
Reconciliation of Segment Operating Income to Income (Loss) Before Income Taxes	The following table presents operating income (loss) for our reportable segments, reconciled to consolidated income (loss) before income taxes: Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 (in millions) Management and franchise (1) $ 538 $ 281 $ 1,267 $ 853 Ownership (1) (4) (52) (82) (145) Segment operating income 534 229 1,185 708 Amortization of contract acquisition costs (9) (7) (23) (22) Other revenues, less other expenses 6 (2) 25 4 Net other revenues (expenses) from managed and franchised properties 62 (44) (57) (281) Depreciation and amortization expenses (46) (90) (143) (269) General and administrative expenses (107) (66) (302) (189) Reorganization costs — — — (38) Impairment losses — (9) — (136) Loss on sale of assets, net (8) — (8) — Operating income (loss) 432 11 677 (223) Interest expense (98) (116) (302) (316) Gain (loss) on foreign currency transactions — (12) 1 (16) Loss on debt extinguishment — — (69) — Other non-operating income (loss), net 6 3 16 (20) Income (loss) before income taxes $ 340 $ (114) $ 323 $ (575) ____________ (1) Includes management, royalty and IP fees charged to our ownership segment by our management and franchise segment, which were eliminated in our condensed consolidated statements of operations.

Organization and Basis of Pre_2

Organization and Basis of Presentation (Details)	Sep. 30, 2021RoomCountryHotel
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of hotels and resorts | Hotel	6,758
Number of hotel and resort rooms | Room	1,061,686
Number of countries and territories | Country	122

Revenues from Contracts with _3

Revenues from Contracts with Customers - Contract Liabilities (Details) - USD ($) $ in Millions		3 Months Ended			9 Months Ended
		Sep. 30, 2021	Sep. 30, 2020	[1]	Sep. 30, 2021		Sep. 30, 2020	[1]	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Contract liabilities balance		$ 1,046			$ 1,046				$ 1,312
Cash received in advance not recognized as revenue					99
Revenue recognized		170	$ 54		284	[1]	$ 164
Other	[2]				81
Contract liability recognized, guest loyalty program	[1]				245
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract liability recognized, guest loyalty program	[1]				245
Revenue recognized		170	$ 54		$ 284	[1]	$ 164
Revenue recognized from performance obligations satisfied in previous period	[1]	$ 34
[1]	Includes $245 million related to Hilton Honors, our guest loyalty program. Revenue recognized during the three months ended September 30, 2021 was $170 million, including $34 million for performance obligations that were satisfied in prior periods as a result of a change to the estimated breakage of Hilton Honors points for which point expirations have been temporarily suspended. During the three and nine months ended September 30, 2020, revenue recognized was $54 million and $164 million, respectively.
[2]	Primarily represents changes in estimated transaction prices for our performance obligations related to points issued under Hilton Honors, which had no effect on revenues.

Revenues from Contracts with _4

Revenues from Contracts with Customers - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	[1]	Sep. 30, 2021		Sep. 30, 2020	[1]	Apr. 30, 2020
Revenue from Contract with Customer [Abstract]
Revenue recognized	$ 170	$ 54		$ 284	[1]	$ 164
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Proceeds from guest loyalty program points pre-sale								$ 1,000
Portion of proceeds from guest loyalty program points pre sale recorded as deferred revenues								$ 636
Guest loyalty program revenues [member]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	188			$ 188
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Explanation				two years
Co-branded credit card arrangement performance obligations [member]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	236			$ 236
Application, initiation and other fees [Member]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 622			$ 622
[1]	Includes $245 million related to Hilton Honors, our guest loyalty program. Revenue recognized during the three months ended September 30, 2021 was $170 million, including $34 million for performance obligations that were satisfied in prior periods as a result of a change to the estimated breakage of Hilton Honors points for which point expirations have been temporarily suspended. During the three and nine months ended September 30, 2020, revenue recognized was $54 million and $164 million, respectively.

Consolidated Variable Interes_3

Consolidated Variable Interest Entities - Schedule of Consolidated Variable Interest Entities (Details) ¥ in Millions, $ in Millions		Sep. 30, 2021USD ($)		Sep. 30, 2021JPY (¥)		Dec. 31, 2020USD ($)
Variable Interest Entity [Line Items]
Cash and cash equivalents		$ 1,288				$ 3,218
Property and equipment, net		303				346
Deferred income tax assets		244				194
Other non-current assets		448				323
Accounts payable, accrued expenses and other		1,433				1,302
Other long-term liabilities		(961)				(989)
Long-term debt, gross		8,857				10,580
VIE revolving credit facility [member]
Variable Interest Entity [Line Items]
Revolving credit facility, maximum borrowing capacity	[1]	40		¥ 4,500
Revolving credit facility, remaining borrowing capacity		35		4,000	[1]
Long-term debt, gross		5	[1]	¥ 500	[1]	0
Variable Interest Entity, Primary Beneficiary [member]
Variable Interest Entity [Line Items]
Cash and cash equivalents		17				40
Property and equipment, net		63				76
Deferred income tax assets		57				57
Other non-current assets		61				66
Accounts payable, accrued expenses and other		18				27
Long-term debt	[1]	181				203
Other long-term liabilities		(17)				17
Finance lease liabilities	[1]	$ 159				$ 184
[1]	Includes finance lease liabilities of $159 million and $184 million as of September 30, 2021 and December 31, 2020, respectively. As of September 30, 2021, the VIEs had revolving credit facilities with borrowing capacities totaling 4.5 billion Japanese yen (equivalent to $40 million), with 500 million Japanese yen (equivalent to $5 million) drawn under these facilities, resulting in an available borrowing capacity totaling 4.0 billion Japanese yen (equivalent to $35 million). There were no amounts drawn under these facilities as of December 31, 2020 . See Note 5: "Debt" for additional information.

Consolidated Variable Interes_4

Consolidated Variable Interest Entities - Additional Information (Details) - Hotel	Sep. 30, 2021	Dec. 31, 2020
Variable Interest Entity [Line Items]
Number of consolidated variable interest entities	2	2

Finite-Lived Intangible Asset_2

Finite-Lived Intangible Assets - Schedule of Finite Lived Intangible Assets (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Impairment losses		$ 0	$ 9	$ 0	$ 136
Contract acquisition costs [member]
Finite-Lived Intangible Assets [Line Items]
Impairment losses	[1]		$ 6		$ 15
Management contracts recorded at merger [member]
Finite-Lived Intangible Assets [Line Items]
Management and franchise contracts, gross	[2]	311		311		$ 317
Management and franchise contracts, accumulated amortization	[2]	(271)		(271)		(261)
Management and franchise contracts, net	[2]	40		40		56
Contract acquisition costs [member]
Finite-Lived Intangible Assets [Line Items]
Management and franchise contracts, gross		741		741		632	[1]
Management and franchise contracts, accumulated amortization		(163)		(163)		(144)	[1]
Management and franchise contracts, net		578		578		488	[1]
Development commissions and other [member]
Finite-Lived Intangible Assets [Line Items]
Management and franchise contracts, gross		138		138		132
Management and franchise contracts, accumulated amortization		(26)		(26)		(23)
Management and franchise contracts, net		112		112		109
Management and Franchise Contracts
Finite-Lived Intangible Assets [Line Items]
Management and franchise contracts, gross		1,190		1,190		1,081
Management and franchise contracts, accumulated amortization		(460)		(460)		(428)
Management and franchise contracts, net		$ 730		$ 730		$ 653
[1]	During the three and nine months ended September 30, 2020, we recognized $6 million and $15 million, respectively, of impairment losses related to our contract acquisition costs included in our condensed consolidated statements of operations.
[2]	Represents intangible assets that were initially recorded at their fair value as part of the October 2007 transaction whereby we became a wholly owned subsidiary of affiliates of Blackstone Inc. (the "Merger").

Finite-Lived Intangible Asset_3

Finite-Lived Intangible Assets - Amortization of Finite-Lived Intangible Assets (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Recognized in depreciation and amortization expense
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets	[1]	$ 32	$ 76	$ 103	$ 227
Recognized in depreciation and amortization expense | Intangible assets recorded at fair value at the time of the Merger [member]
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets	[1]	11	47	35	143
Recognized as a reduction of franchise and licensing fees and base and other management fees
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets		$ 9	$ 7	$ 23	$ 22
[1]	Includes amortization expense of $11 million and $47 million for the three months ended September 30, 2021 and 2020, respectively, and $35 million and $143 million for the nine months ended September 30, 2021 and 2020, respectively, associated with assets that were initially recorded at their fair value at the time of the Merger, some of which fully amortized during 2020.

Debt - Long-term Debt (Details)

Debt - Long-term Debt (Details) - USD ($) $ in Millions		Sep. 30, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Long-term debt, gross		$ 8,857	$ 10,580
Unamortized deferred financing costs and discount		(90)	(93)
Current maturities of long-term debt	[1]	(54)	(56)
Long-term debt		8,713	10,431
Senior secured revolving credit facility [member]
Debt Instrument [Line Items]
Long-term debt, gross		0	1,690
Senior secured term loan facility [member]
Debt Instrument [Line Items]
Long-term debt, gross		$ 2,619	2,619
Debt instrument, interest rate, stated percentage		1.84%
Senior notes due 2025 [member]
Debt Instrument [Line Items]
Long-term debt, gross		$ 500	500
Debt instrument, interest rate, stated percentage		5.375%
Senior notes due 2026 [member]
Debt Instrument [Line Items]
Long-term debt, gross		$ 0	1,500
Debt instrument, interest rate, stated percentage		5.125%
Senior notes due 2027 [member]
Debt Instrument [Line Items]
Long-term debt, gross		$ 600	600
Debt instrument, interest rate, stated percentage		4.875%
Senior Notes due 2028 [member]
Debt Instrument [Line Items]
Long-term debt, gross		$ 500	500
Debt instrument, interest rate, stated percentage		5.75%
Senior notes due 2029 [member]
Debt Instrument [Line Items]
Long-term debt, gross		$ 800	800
Debt instrument, interest rate, stated percentage		3.75%
Senior notes due 2030 [member]
Debt Instrument [Line Items]
Long-term debt, gross		$ 1,000	1,000
Debt instrument, interest rate, stated percentage		4.875%
Senior Notes due 2031 [member]
Debt Instrument [Line Items]
Long-term debt, gross		$ 1,100	1,100
Debt instrument, interest rate, stated percentage		4.00%
Senior Notes due 2032 [member]
Debt Instrument [Line Items]
Long-term debt, gross		$ 1,500	0
Debt instrument, interest rate, stated percentage		3.625%
Finance lease liabilities [member]
Debt Instrument [Line Items]
Long-term debt, gross		$ 216	252
Debt, weighted average interest rate		5.89%
Other debt [member]
Debt Instrument [Line Items]
Long-term debt, gross		$ 22	$ 19
Debt, weighted average interest rate		2.69%
[1]	Represents current maturities of finance lease liabilities and, as of September 30, 2021, the outstanding borrowings under the revolving credit facility of a consolidated VIE.

Debt - Additional Information (

Debt - Additional Information (Details) ¥ in Millions, $ in Millions		1 Months Ended	3 Months Ended			9 Months Ended
		Feb. 28, 2021USD ($)	Sep. 30, 2021JPY (¥)Rate		Sep. 30, 2021USD ($)	Sep. 30, 2021USD ($)	Sep. 30, 2021USD ($)Rate
Senior secured revolving credit facility [member]
Debt Instrument [Line Items]
Revolving credit facility, maximum borrowing capacity							$ 1,750
Repayments of long-term debt						$ 1,690
Letters of credit outstanding							60
Revolving credit facility, remaining borrowing capacity							$ 1,690
Senior Notes due 2032 [member]
Debt Instrument [Line Items]
Debt instrument, face amount		$ 1,500
Debt instrument, interest rate, stated percentage | Rate			3.625%				3.625%
Debt issuance costs							$ 21
Senior notes due 2026 [member]
Debt Instrument [Line Items]
Debt instrument, face amount		1,500
Debt instrument, interest rate, stated percentage | Rate			5.125%				5.125%
Premium paid to redeem debt instrument		55
Write off of deferred debt issuance costs		$ 14
Senior notes due 2025 [member]
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage | Rate			5.375%				5.375%
Senior notes due 2027 [member]
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage | Rate			4.875%				4.875%
Senior Notes due 2028 [member]
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage | Rate			5.75%				5.75%
Senior notes due 2029 [member]
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage | Rate			3.75%				3.75%
Senior notes due 2030 [member]
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage | Rate			4.875%				4.875%
Senior Notes due 2031 [member]
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage | Rate			4.00%				4.00%
VIE revolving credit facility [member]
Debt Instrument [Line Items]
Revolving credit facility, maximum borrowing capacity	[1]		¥ 4,500				$ 40
Revolving credit facility, remaining borrowing capacity			4,000	[1]			$ 35
Proceeds from revolving credit facility			¥ 500		$ 5
[1]	Includes finance lease liabilities of $159 million and $184 million as of September 30, 2021 and December 31, 2020, respectively. As of September 30, 2021, the VIEs had revolving credit facilities with borrowing capacities totaling 4.5 billion Japanese yen (equivalent to $40 million), with 500 million Japanese yen (equivalent to $5 million) drawn under these facilities, resulting in an available borrowing capacity totaling 4.0 billion Japanese yen (equivalent to $35 million). There were no amounts drawn under these facilities as of December 31, 2020 . See Note 5: "Debt" for additional information.

Fair Value Measurements - Recur

Fair Value Measurements - Recurring & Disclosure (Details) - USD ($) $ in Millions		Sep. 30, 2021	Dec. 31, 2020
Carrying value [member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents		$ 624	$ 2,270
Interest rate swaps, liabilities		66	82
Carrying value [member] | Long-term debt excluding finance lease liabilities and other debt [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	[1]	8,529	10,216
Level 1 [member] | Long-term debt excluding finance lease liabilities and other debt [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	[1]	6,171	6,366
Level 2 [member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents		624	2,270
Interest rate swaps, liabilities		66	82
Level 3 [member] | Long-term debt excluding finance lease liabilities and other debt [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	[1]	$ 2,601	$ 4,293
[1]	The carrying values include unamortized deferred financing costs and discount. The carrying values and fair values exclude finance lease liabilities and other debt of consolidated VIEs.

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Pre-enactment tax rate UK	19.00%
Post-enactment tax rate UK	25.00%
Tax Rate Enactment Tax Benefit	$ 30
Unrecognized tax benefits	438	$ 451
Accrual for interest and penalties	71	65
Unrecognized tax benefits that would provide benefit to effective tax rate	401	$ 400
Income tax examination, estimate of possible loss	817
Accrual related to IRS proposed additional tax owed	$ 86

Share-Based Compensation - Sche

Share-Based Compensation - Schedule of Stock Options Valuation Assumptions (Details) - Employee stock option [member]	9 Months Ended
	Sep. 30, 2021$ / sharesRate
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options, grants in period, grant date fair value | $ / shares	$ 41.15
Expected volatility	33.13%	[1]
Dividend yield	0.00%	[2]
Risk-free rate	0.92%	[3]
Expected term (in years)	6 years	[4]
[1]	Estimated using a blended approach of historical and implied volatility. Historical volatility is based on the historical movement of Hilton's stock price for a period that corresponds to the expected life of the option.
[2]	We have historically paid regular quarterly cash dividends. However, in March 2020, we suspended the declaration and payment of dividends as part of certain proactive measures we took to secure our liquidity position in response to the COVID-19 pandemic, and, at the time of the grant, we could not estimate when the payment of dividends would resume.
[3]	Based on the yields of U.S. Department of Treasury instruments with similar expected lives.
[4]	Estimated using the average of the vesting periods and the contractual term of the options.

Share-Based Compensation - Addi

Share-Based Compensation - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 52	$ 25	$ 144	$ 37
Unrecognized compensation costs related to unvested awards	$ 157		$ 157
Unrecognized compensation costs related to unvested awards, weighted-average period			1 year 8 months 12 days
Restricted stock units (RSUs) [member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted			587,000
Weighted average grant date fair value, granted			$ 123.09
Employee stock option [member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			3 years
Options granted in period			361,000
Options granted in period, weighted average exercise price			$ 123.13
Options, expiration period			10 years
Performance shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted			241,000
Weighted average grant date fair value, granted			$ 123.13
Minimum achievement percentage [Member] | Performance shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting rights, percentage			0.00%
Maximum achievement percentage [Member] | Performance shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting rights, percentage			200.00%
Target achievement percentage [Member] | Performance shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting rights, percentage			100.00%
Minimum [Member] | Restricted stock units (RSUs) [member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			2 years
Maximum [Member] | Restricted stock units (RSUs) [member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			3 years

Earnings (Loss) Per Share (Deta

Earnings (Loss) Per Share (Details) - USD ($) $ / shares in Units, $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Basic EPS:
Net income (loss) attributable to Hilton stockholders		$ 241	$ (79)	$ 263	$ (491)
Weighted average shares outstanding		279,000,000	277,000,000	278,000,000	277,000,000
Basic EPS		$ 0.86	$ (0.29)	$ 0.94	$ (1.77)
Diluted EPS:
Net income (loss) attributable to Hilton stockholders		$ 241	$ (79)	$ 263	$ (491)
Weighted average shares outstanding	[1]	281,000,000	277,000,000	281,000,000	277,000,000
Diluted EPS	[1]	$ 0.86	$ (0.29)	$ 0.94	$ (1.77)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted average shares outstanding	[1]	281,000,000	277,000,000	281,000,000	277,000,000
Diluted EPS	[1]	$ 0.86	$ (0.29)	$ 0.94	$ (1.77)
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	[1]	1	3,000,000	1	3,000,000
Previously Reported
Diluted EPS:
Weighted average shares outstanding	[1]		279,000,000		279,000,000
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted average shares outstanding	[1]		279,000,000		279,000,000
Revision of Prior Period, Adjustment
Diluted EPS:
Diluted EPS	[1]		$ 0.01		$ 0.01
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Diluted EPS	[1]		$ 0.01		$ 0.01
[1]	Certain shares related to share-based compensation were excluded from the calculation of diluted EPS because their effect would have been anti-dilutive under the treasury stock method, including less than 1 million shares for both the three and nine months ended September 30, 2021, and, as revised, 3 million shares for both the three and nine months ended September 30, 2020. The dilutive shares related to share-based compensation included in the previously reported weighted average shares outstanding of 279 million for both the three and nine months ended September 30, 2020 were revised in the current period presentation, as the previously reported dilutive shares were determined to be anti-dilutive as a result of the net loss attributable to Hilton stockholders reported during those periods. The result of the revision is an immaterial decrease in the previously reported diluted EPS for the three and nine months ended September 30, 2020 of $0.01.

Stockholders' Equity (Deficit_3

Stockholders' Equity (Deficit) and Accumulated Other Comprehensive Loss - Schedule of Stockholders' Equity (Deficit) (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Class of Stock [Line Items]
Beginning balance, shares				277,590,904
Beginning balance, equity attributable to Hilton stockholders				$ (1,490)
Beginning balance, equity attributable to noncontrolling interest				(4)
Beginning balance, equity		$ (1,416)	$ (1,291)	(1,486)	$ (472)
Net income (loss) attributable to Hilton stockholders		241	(79)	263	(491)
Net loss (income) attributable to noncontrolling interests		1	2	4	4
Net income (loss)		240	(81)	259	(495)
Other comprehensive income (loss)		(3)	28	(9)	(13)
Dividends	[1]				(42)
Repurchases of common stock	[1]				(279)
Increase (decrease) in stockholders’ equity from share-based compensation		$ 51	26	$ 108	(7)
Distributions			(1)		(1)
Ending balance, shares		278,718,682		278,718,682
Ending balance, equity attributable to Hilton stockholders		$ (1,128)		$ (1,128)
Ending balance, equity attributable to noncontrolling interest		0		0
Ending balance, equity		$ (1,128)	$ (1,319)	$ (1,128)	(1,319)
Accounting Standards Update 2016-13 [Member] | Cumulative effect of the adoption of an ASU
Class of Stock [Line Items]
Beginning balance, equity	[2]				$ (10)
Common stock
Class of Stock [Line Items]
Beginning balance, shares		279,000,000	277,000,000	278,000,000	279,000,000
Beginning balance, equity attributable to Hilton stockholders		$ 3	$ 3	$ 3	$ 3
Repurchases of common stock, shares	[1]				(3,000,000)
Share-based compensation, shares		0	0	1,000,000	1,000,000
Ending balance, shares		279,000,000	277,000,000	279,000,000	277,000,000
Ending balance, equity attributable to Hilton stockholders		$ 3	$ 3	$ 3	$ 3
Treasury stock
Class of Stock [Line Items]
Beginning balance, equity attributable to Hilton stockholders		(4,447)	(4,457)	(4,453)	(4,169)
Repurchases of common stock	[1]				(279)
Increase (decrease) in stockholders’ equity from share-based compensation		0	0	6	(9)
Ending balance, equity attributable to Hilton stockholders		(4,447)	(4,457)	(4,447)	(4,457)
Additional paid-in capital
Class of Stock [Line Items]
Beginning balance, equity attributable to Hilton stockholders		10,603	10,465	10,552	10,489
Increase (decrease) in stockholders’ equity from share-based compensation		51	26	102	2
Ending balance, equity attributable to Hilton stockholders		10,654	10,491	10,654	10,491
Accumulated deficit
Class of Stock [Line Items]
Beginning balance, equity attributable to Hilton stockholders		(6,710)	(6,429)	(6,732)	(5,965)
Net income (loss) attributable to Hilton stockholders		241	(79)	263	(491)
Dividends	[1]				(42)
Ending balance, equity attributable to Hilton stockholders		(6,469)	(6,508)	(6,469)	(6,508)
Accumulated deficit | Accounting Standards Update 2016-13 [Member] | Cumulative effect of the adoption of an ASU
Class of Stock [Line Items]
Beginning balance, equity attributable to Hilton stockholders	[2]				(10)
Accumulated other comprehensive loss
Class of Stock [Line Items]
Beginning balance, equity attributable to Hilton stockholders		(866)	(881)	(860)	(840)
Other comprehensive income (loss) attributable to Hilton stockholders		(3)	28	(9)	(13)
Ending balance, equity attributable to Hilton stockholders		(869)	(853)	(869)	(853)
Noncontrolling interests
Class of Stock [Line Items]
Beginning balance, equity attributable to noncontrolling interest		1	8	4	10
Net loss (income) attributable to noncontrolling interests		(1)	(2)	(4)	(4)
Distributions			(1)		(1)
Ending balance, equity attributable to noncontrolling interest		$ 0	$ 5	$ 0	$ 5
[1]	In March 2020, we suspended share repurchases and the declaration of dividends.
[2]	Relates to Accounting Standards Update No. 2016-13 ("ASU 2016-13"), Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments , that was adopted on January 1, 2020.

Stockholders' Equity (Deficit_4

Stockholders' Equity (Deficit) and Accumulated Other Comprehensive Loss - Schedule of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance				$ (860)
Ending balance		$ (869)		(869)
Currency translation adjustment
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	[1]			(511)	$ (549)
Other comprehensive income (loss) before reclassifications	[1]			(32)	16
Amounts reclassified from accumulated other comprehensive loss	[1]			6	5
Net current period other comprehensive income (loss)	[1]			(26)	21
Ending balance	[1]	(537)	$ (528)	(537)	(528)
Pension liability adjustment
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	[2]			(289)	(269)
Other comprehensive income (loss) before reclassifications	[2]			(2)	(3)
Amounts reclassified from accumulated other comprehensive loss	[2]			8	8
Net current period other comprehensive income (loss)	[2]			6	5
Ending balance	[2]	(283)	(264)	(283)	(264)
Cash flow hedge adjustment
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	[3]			(60)	(22)
Other comprehensive income (loss) before reclassifications	[3]			(4)	(35)
Amounts reclassified from accumulated other comprehensive loss	[3]			15	(4)
Net current period other comprehensive income (loss)	[3]			11	(39)
Ending balance	[3]	(49)	(61)	(49)	(61)
Accumulated other comprehensive loss
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance				(860)	(840)
Other comprehensive income (loss) before reclassifications				(38)	(22)
Amounts reclassified from accumulated other comprehensive loss				29	9
Net current period other comprehensive income (loss)		(3)	28	(9)	(13)
Ending balance		$ (869)	$ (853)	$ (869)	$ (853)
[1]	Includes net investment hedge gains and intra-entity foreign currency transactions that are of a long-term investment nature. Amounts reclassified during the nine months ended September 30, 2021 and 2020 relate to the liquidation of investments in foreign entities and were recognized in loss on sale of assets, net and loss on foreign currency transactions, respectively, in our condensed consolidated statements of operations.
[2]	Amounts reclassified related to the amortization of prior service cost (credit) and amortization of net loss and were recognized in other non-operating income (loss), net in our condensed consolidated statements of operations.
[3]	Amounts reclassified are the result of hedging instruments, including: (a) interest rate swaps, inclusive of interest rate swaps that were dedesignated and subsequently settled, with related amounts recognized in interest expense in our condensed consolidated statements of operations and (b) forward contracts that hedge our foreign currency denominated fees, with related amounts recognized in franchise and licensing fees, base and other management fees and other revenues from managed and franchised properties in our condensed consolidated statements of operations.

Business Segments - Segment Inf

Business Segments - Segment Information (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021USD ($)RoomHotel	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)RoomHotelSegment	Sep. 30, 2020USD ($)
Segment Reporting Information [Line Items]
Number of operating segments | Segment			2
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment losses | $	$ 0	$ 9	$ 0	$ 136
Management and franchise [member]
Segment Reporting Information [Line Items]
Number of managed hotels	735		735
Number of franchised hotels	5,905		5,905
Number of managed and franchised hotel rooms | Room	1,033,282		1,033,282
Number of hotels with suspended operations	87		87
Ownership
Segment Reporting Information [Line Items]
Number of hotels with suspended operations	1		1
Number of owned and leased hotel properties	59		59
Number of owned and leased hotel rooms | Room	19,056		19,056
Number of wholly owned and leased hotels	51		51
Number of non-wholly owned hotels	1		1
Number of hotels leased by consolidated VIEs	2		2
Number of hotels owned or leased by unconsolidated affiliates	5		5
Operating lease right-of-use assets [member]
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment losses | $				51
Other intangible assets, net [member]
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment losses | $				46
Property and equipment, net [member]
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment losses | $		3		24
Finance lease right-of-use assets [member]
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment losses | $		$ 2		$ 4

Business Segments - Reconciliat

Business Segments - Reconciliation of Revenue from Segment Amounts to Consolidated Amounts (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues		$ (1,749)	$ (933)	$ (3,952)	$ (3,417)
Amortization of contract acquisition costs		(9)	(7)	(23)	(22)
Management and franchise [member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues		(538)	(281)	(1,267)	(853)
Segment revenues
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues		737	(375)	(1,643)	(1,188)
Intersegment eliminations
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	[1]	(3)	(2)	(6)	(2)
Other revenues
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues		(18)	(19)	(56)	(52)
Direct reimbursements from managed and franchised properties
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	[2]	(446)	(244)	(998)	(1,185)
Indirect reimbursements from managed and franchised properties
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	[2]	(560)	(304)	(1,284)	(1,016)
Franchise and licensing fees [member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues		(451)	(241)	(1,062)	(712)
Franchise and licensing fees [member] | Management and franchise [member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues		(455)	(244)	(1,072)	(720)
Base and other management fees [member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues		(49)	(24)	(116)	(92)
Base and other management fees [member] | Management and franchise [member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	[1]	(57)	(30)	(135)	(108)
Incentive management fees [member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues		(26)	(7)	(60)	(25)
Incentive management fees [member] | Management and franchise [member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues		(26)	(7)	(60)	(25)
Owned and leased hotels [member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues		(199)	(94)	(376)	(335)
Owned and leased hotels [member] | Ownership
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues		$ (199)	$ (94)	$ (376)	$ (335)
[1]	Includes management, royalty and IP fees charged to our ownership segment by our management and franchise segment, which were eliminated in our condensed consolidated statements of operations.
[2]	Included in other revenues from managed and franchised properties in our condensed consolidated statements of operations.

Business Segments - Reconcili_2

Business Segments - Reconciliation of Segment Operating Income to Loss Before Income Taxes (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Amortization of contract acquisition costs		$ (9)	$ (7)	$ (23)	$ (22)
Other revenues, less other expenses		(6)	(2)	(25)	(4)
Net other revenues (expenses) from managed and franchised properties		62	(44)	(57)	(281)
Depreciation and amortization expenses		(46)	(90)	(143)	(269)
General and administrative expenses		(107)	(66)	(302)	(189)
Reorganization costs		0	0	0	(38)
Impairment losses		0	(9)	0	(136)
Loss on sale of assets, net		(8)	0	(8)	0
Operating income (loss)		(432)	(11)	(677)	223
Interest expense		(98)	(116)	(302)	(316)
Gain (loss) on foreign currency transactions		0	(12)	1	(16)
Loss on debt extinguishment		0	0	(69)	0
Other non-operating income (loss), net		6	3	16	(20)
Income (loss) before income taxes		340	(114)	323	(575)
Management and franchise [member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Operating income (loss)	[1]	(538)	(281)	(1,267)	(853)
Ownership
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Operating income (loss)	[1]	4	52	82	145
Segment operating income
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Operating income (loss)		$ 534	$ (229)	$ (1,185)	$ (708)
[1]	Includes management, royalty and IP fees charged to our ownership segment by our management and franchise segment, which were eliminated in our condensed consolidated statements of operations.

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	Sep. 30, 2021USD ($)ContractHotel	Dec. 31, 2020USD ($)
Commitments and Contingencies [Line Items]
Current liabilities	$ 2,622	$ 2,431
Marketing, sales and brand programs - amount collected in excess of amounts expended (amounts expended in excess of amounts collected)	13	5
Commitments to fund loans
Commitments and Contingencies [Line Items]
Commitment to fund loan	$ 10
Letter of Credit [Member]
Commitments and Contingencies [Line Items]
Number of letters of credit provided to hotel owners | Hotel	2
Letter of credit provided to hotel owner	$ 26
Performance guarantees
Commitments and Contingencies [Line Items]
Number of contracts with guarantees | Contract	6
Guarantees, possible cash outlays	$ 20
Current liabilities	2	$ 7
Debt guarantee
Commitments and Contingencies [Line Items]
Guarantees, possible cash outlays	$ 10
Number of hotels with debt guarantees | Hotel	2