Hilton Worldwide (HLT) 10-Q 26 Oct 22 2022 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document - shares	9 Months Ended
	Sep. 30, 2022	Oct. 21, 2022
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2022
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		270,456,017
Entity Central Index Key	0001585689
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Shell Company	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions		Sep. 30, 2022	Dec. 31, 2021
Current Assets:
Cash and cash equivalents		$ 1,282	$ 1,427
Restricted cash and cash equivalents		80	85
Accounts receivable, net of allowance for credit losses of $124 and $126		1,278	1,068
Prepaid expenses		139	89
Other		197	202
Total current assets (variable interest entities – $28 and $30)		2,976	2,871
Intangibles and Other Assets:
Goodwill		4,990	5,071
Brands		4,814	4,883
Operating lease right-of-use assets		624	694
Property and equipment, net		254	305
Deferred income tax assets		213	213
Other		605	452
Total intangibles and other assets (variable interest entities – $141 and $184)		12,532	12,570
Total assets		15,508	15,441
Current Liabilities:
Accounts payable, accrued expenses and other		1,728	1,568
Current maturities of long-term debt	[1]	39	54
Current portion of deferred revenues		266	350
Total current liabilities (variable interest entities – $39 and $50)		3,365	3,019
Long-term debt		8,692	8,712
Operating lease liabilities		786	870
Deferred revenues		845	896
Deferred income tax liabilities		794	700
Other		689	746
Total liabilities (variable interest entities – $174 and $212)		16,422	16,260
Commitments and contingencies – see Note 12
Equity (Deficit):
Preferred stock, $0.01 par value; 3,000,000,000 authorized shares, none issued or outstanding as of September 30, 2022 and December 31, 2021		0	0
Common stock, $0.01 par value; 10,000,000,000 authorized shares, 332,944,066 issued and 271,541,523 outstanding as of September 30, 2022 and 332,011,359 issued and 279,091,009 outstanding as of December 31, 2021		3	3
Treasury stock, at cost; 61,402,543 shares as of September 30, 2022 and 52,920,350 shares as of December 31, 2021		(5,545)	(4,443)
Additional paid-in capital		10,791	10,720
Accumulated deficit		(5,477)	(6,322)
Accumulated other comprehensive loss		(685)	(779)
Total Hilton stockholders' deficit		(913)	(821)
Noncontrolling interests		(1)	2
Total deficit		(914)	(819)
TOTAL LIABILITIES AND EQUITY (DEFICIT)		15,508	15,441
Management and franchise
Intangibles and Other Assets:
Management and franchise contracts, net		874	758
Other
Intangibles and Other Assets:
Management and franchise contracts, net		158	194
Variable Interest Entity, Primary Beneficiary
Current Assets:
Cash and cash equivalents		20	18
Intangibles and Other Assets:
Property and equipment, net		42	60
Deferred income tax assets		49	62
Other		49	62
Current Liabilities:
Accounts payable, accrued expenses and other		15	15
Other		14	(16)
Guest Loyalty Program
Current Liabilities:
Current portion of liability for guest loyalty program		1,332	1,047
Liability for guest loyalty program		$ 1,251	$ 1,317
[1]Represents current maturities of finance lease liabilities and borrowings of a consolidated VIE.

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
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	332,944,066	332,011,359
Common stock, outstanding shares	271,541,523	279,091,009
Treasury stock, shares	61,402,543	52,920,350
Allowance for credit losses	$ 124	$ 126
Total current assets of variable interest entities	28	30
Total intangibles and other assets of variable interest entities	141	184
Total current liabilities of variable interest entities	39	50
Total liabilities of variable interest entities	$ 174	$ 212

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenues	$ 2,368	$ 1,749	$ 6,329	$ 3,952
Owned and leased hotels	263	200	705	452
Depreciation and amortization	39	46	123	143
General and administrative	93	107	287	302
Other expenses	13	12	35	31
Total expenses excluding reimbursable expenses	408	365	1,150	928
Other expenses from managed and franchised properties	1,337	944	3,589	2,339
Total expenses	1,745	1,309	4,739	3,267
Loss on sale of assets, net	0	(8)	0	(8)
Operating income (loss)	623	432	1,590	677
Interest expense	(106)	(98)	(295)	(302)
Gain on foreign currency transactions	0	0	4	1
Gain (loss) on debt extinguishment	0	0	0	(69)
Other non-operating income (loss), net	10	6	32	16
Income before income taxes	527	340	1,331	323
Income tax expense	(181)	(100)	(407)	(64)
Net income	346	240	924	259
Net loss (income) attributable to noncontrolling interests	1	1	3	4
Net income attributable to Hilton stockholders	$ 347	$ 241	$ 927	$ 263
Basic EPS:
Earnings (loss) per share, basic (USD per share)	$ 1.27	$ 0.86	$ 3.35	$ 0.94
Diluted EPS:
Earnings (loss) per share, diluted (USD per share)	1.26	0.86	3.32	0.94
Cash dividends declared per share	$ 0.15	$ 0	$ 0.30	$ 0
Total revenues excluding reimbursable revenues
Revenues	$ 1,024	$ 743	$ 2,667	$ 1,670
Franchise and licensing fees
Revenues	573	451	1,531	1,062
Base and other management fees
Revenues	76	49	206	116
Incentive management fees
Revenues	52	26	132	60
Owned and leased hotels
Revenues	295	199	727	376
Other revenues
Revenues	28	18	71	56
Other revenues from managed and franchised properties
Revenues	$ 1,344	$ 1,006	$ 3,662	$ 2,282

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 346	$ 240	$ 924	$ 259
Other comprehensive income (loss), net of tax benefit (expense):
Currency translation adjustment, net of tax	(22)	(5)	(47)	(26)
Pension liability adjustment, net of tax	(1)	(2)	(4)	(6)
Cash flow hedge adjustment, net of tax	50	0	137	11
Total other comprehensive income (loss)	29	(3)	94	(9)
Comprehensive income	375	237	1,018	250
Comprehensive loss (income) attributable to noncontrolling interests	1	1	3	4
Comprehensive income attributable to Hilton stockholders	$ 376	$ 238	$ 1,021	$ 254

Condensed Consolidated Statem_3

Condensed Consolidated Statement of Comprehensive Income (Loss) (Parentheticals) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2022		Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Comprehensive Income [Abstract]
Currency translation adjustment, tax benefit (expense)	$ 12		$ (2)	$ 18	$ (4)
Pension liability adjustment, tax expense (less than)	0	[1]	(1)	(1)	(2)
Cash flow hedge adjustment, tax benefit (expense)	$ (17)		$ 0	$ (46)	$ (4)
[1]Amount was less than $1 million.

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Operating Activities:
Net income (loss)	$ 924	$ 259
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	123	143
Gain on foreign currency transactions	(4)	(1)
Share-based compensation expense	126	144
Deferred income taxes	54	6
Contract acquisition costs, net of refunds	(61)	(160)
Working capital changes and other	9	(436)
Net cash provided by (used in) operating activities	1,199	(22)
Investing Activities:
Capital expenditures for property and equipment	(19)	(17)
Issuance of other financing receivables	(46)	(3)
Undesignated derivative financial instruments	(65)	13
Capitalized software costs	(43)	(28)
Investments in unconsolidated affiliates	(53)	0
Other	(2)	27
Net cash used in investing activities	(98)	(34)
Financing Activities:
Borrowings	23	1,505
Repayment of debt	(35)	(3,221)
Debt issuance costs and redemption premium	0	76
Dividends paid	(82)	0
Repurchases of common stock	(1,092)	0
Share-based compensation tax withholdings	56	48
Proceeds from share-based compensation	16	26
Settlements of interest rate swap with financing component	(4)	0
Net cash used in financing activities	(1,230)	(1,814)
Effect of exchange rate changes on cash, restricted cash and cash equivalents	(21)	(6)
Net decrease in cash, restricted cash and cash equivalents	(150)	(1,876)
Cash, restricted cash and cash equivalents, beginning of period	1,512	3,263
Cash, restricted cash and cash equivalents, end of period	1,362	1,387
Supplemental Disclosures:
Interest	264	254
Income taxes, net of refunds	253	79
Recognized as a reduction of franchise and licensing fees and base and other management fees
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Amortization of contract acquisition costs	$ 28	$ 23

Organization and Basis of Prese

Organization and Basis of Presentation	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
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 intellectual property ("IP"), including brand names, trademarks and service marks. As of September 30, 2022, we managed, franchised, owned or leased 7,061 hotels and resorts, including timeshare properties, totaling 1,111,147 rooms in 123 countries and territories. Basis of Presentation The accompanying condensed consolidated financial statements for the three and nine months ended September 30, 2022 and 2021 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, 2021.

Revenues from Contracts with Cu

Revenues from Contracts with Customers	9 Months Ended
	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
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, 2022: (in millions) Balance as of December 31, 2021 $ 1,166 Cash received in advance and not recognized as revenue 329 Revenue recognized (1)(2) (380) Other (3) (64) Balance as of September 30, 2022 $ 1,051 ____________ (1) Primarily related to Hilton Honors, our guest loyalty program, including co-branded credit card arrangements. (2) Revenue recognized during the three months ended September 30, 2022 was $139 million. Revenue recognized during the three and nine months ended September 30, 2022 included a net increase in revenue of $7 million and $4 million, respectively, for Hilton Honors points redeemed 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. (3) Primarily represents changes in estimated transaction prices for our performance obligations related to the issuance of Hilton Honors points, which had no effect on revenues. Performance Obligations As of September 30, 2022, we had deferred revenues for unsatisfied performance obligations consisting of: (i) $352 million related to Hilton Honors that will be recognized as revenue over approximately the next two years; (ii) $669 million related to application, initiation and other fees; and (iii) $30 million related to other obligations. These performance obligations are recognized as revenue as discussed in Note 2: "Basis of Presentation and Summary of Significant Accounting Policies" in our Annual Report on Form 10-K for the fiscal year ended December 31, 2021.

Consolidated Variable Interest

Consolidated Variable Interest Entities	9 Months Ended
	Sep. 30, 2022
Consolidated Variable Interest Entities Disclosure [Abstract]
Consolidated Variable Interest Entities	As of September 30, 2022 and December 31, 2021, we consolidated two variable interest entities ("VIEs") that each lease one 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, 2022 2021 (in millions) Cash and cash equivalents $ 20 $ 18 Property and equipment, net 42 60 Deferred income tax assets 49 62 Other non-current assets 49 62 Accounts payable, accrued expenses and other 15 15 Long-term debt (1) 145 179 Other long-term liabilities 14 16 ____________ (1) Includes finance lease liabilities of $109 million and $153 million as of September 30, 2022 and December 31, 2021, respectively. During the nine months ended September 30, 2022, our consolidated VIEs borrowed a net 2.7 billion JPY (equivalent to $19 million as of September 30, 2022), with a weighted average interest rate of 1.22 percent as of September 30, 2022 and maturity dates ranging from May 2023 to February 2029; these borrowings are included in current maturities of long-term debt and long-term debt in our condensed consolidated balance sheet as of September 30, 2022.

Finite-Lived Intangible Assets

Finite-Lived Intangible Assets	9 Months Ended
	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
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, 2022 Gross Carrying Value Accumulated Amortization Net (in millions) Management contracts recorded at Merger (1) $ 283 $ (265) $ 18 Contract acquisition costs 936 (195) 741 Development commissions and other 145 (30) 115 $ 1,364 $ (490) $ 874 December 31, 2021 Gross Carrying Value Accumulated Amortization Net (in millions) Management contracts recorded at Merger (1) $ 310 $ (275) $ 35 Contract acquisition costs 780 (170) 610 Development commissions and other 140 (27) 113 $ 1,230 $ (472) $ 758 ____________ (1) Represents intangible assets that were initially recorded at fair value as part of the 2007 transaction whereby we became a wholly owned subsidiary of affiliates of Blackstone Inc. (the "Merger"). Amortization of our finite-lived intangible assets was as follows: Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 (in millions) Recognized in depreciation and amortization expenses (1) $ 27 $ 32 $ 88 $ 103 Recognized as a reduction of franchise and licensing fees and base and other management fees 10 9 28 23 ____________ (1) Includes amortization expense associated with assets that were initially recorded at fair value at the time of the Merger of $11 million for both the three months ended September 30, 2022 and 2021 and $34 million and $35 million for the nine months ended September 30, 2022 and 2021, respectively.

Debt

Debt	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Debt	Long-term debt balances, including obligations for finance leases, and associated interest rates and maturities as of September 30, 2022, were as follows: September 30, December 31, 2022 2021 (in millions) Senior secured term loan facility with a rate of 4.83%, due 2026 $ 2,619 $ 2,619 Senior notes with a rate of 5.375%, due 2025 (1) 500 500 Senior notes with a rate of 4.875%, due 2027 (1) 600 600 Senior notes with a rate of 5.750%, due 2028 (1) 500 500 Senior notes with a rate of 3.750%, due 2029 (1) 800 800 Senior notes with a rate of 4.875%, due 2030 (1) 1,000 1,000 Senior notes with a rate of 4.000%, due 2031 (1) 1,100 1,100 Senior notes with a rate of 3.625%, due 2032 (1) 1,500 1,500 Finance lease liabilities with a weighted average rate of 5.85%, due 2022 to 2030 153 208 Other debt of consolidated VIEs with a weighted average rate of 1.21%, due 2023 to 2029 (2) 36 26 8,808 8,853 Less: unamortized deferred financing costs and discount (77) (87) Less: current maturities of long-term debt (3) (39) (54) $ 8,692 $ 8,712 ____________ (1) These notes are collectively referred to as the Senior Notes and are jointly and severally guaranteed on a senior unsecured basis by the Parent and substantially all of its direct and indirect wholly owned domestic restricted subsidiaries, other than Hilton Domestic Operating Company Inc., an indirect wholly owned subsidiary of the Parent and the issuer of all of the series of Senior Notes. (2) Refer to Note 3: "Consolidated Variable Interest Entities" for additional information on the debt of our consolidated VIEs. (3) Represents current maturities of finance lease liabilities and borrowings 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

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
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, 2022 Hierarchy Level Carrying Value Level 1 Level 2 Level 3 (in millions) Assets: Cash equivalents $ 499 $ — $ 499 $ — Interest rate swap (1) 116 — 116 — Liabilities: Long-term debt (2) 8,542 5,086 — 2,551 December 31, 2021 Hierarchy Level Carrying Value Level 1 Level 2 Level 3 (in millions) Assets: Cash equivalents $ 622 $ — $ 622 $ — Liabilities: Long-term debt (2) 8,532 6,180 — 2,599 Interest rate swaps (1) 41 — 41 — ____________ (1) Interest rate swaps are included in other non-current assets or other long-term liabilities in our condensed consolidated balance sheets depending on their value to us as of the balance sheet date. During the nine months ended September 30, 2022, one of the interest rate swaps that was outstanding as of December 31, 2021 matured. The remaining interest rate swap outstanding as of September 30, 2022 will mature in March 2026. (2) The carrying values include the deduction for unamortized deferred financing costs and any applicable discounts. 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. The fair values of financial instruments not included in these tables are estimated to be equal to their carrying values as of September 30, 2022 and December 31, 2021.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	At the end of each quarter, we estimate the effective income tax rate expected to be applied for the full year. The effective income tax rate is determined by the level and composition of income (loss) before income taxes, which is subject to federal, state, local and foreign income taxes. In August 2022, the Inflation Reduction Act of 2022 (the "IRA") was signed into law in the U.S. We do not expect the IRA to have a material impact on our consolidated financial statements, including our annual estimated effective tax rate.

Share-Based Compensation

Share-Based Compensation	9 Months Ended
	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
Share-Based Compensation	We recognized share-based compensation expense of $42 million and $52 million during the three months ended September 30, 2022 and 2021, respectively, and $126 million and $144 million during the nine months ended September 30, 2022 and 2021, respectively, which included amounts reimbursed by hotel owners. Our share-based compensation primarily consists of awards that we grant to eligible employees under the Hilton 2017 Omnibus Incentive Plan (the "2017 Plan") and includes time-vesting restricted stock units ("RSUs"), nonqualified stock options ("options") and performance-vesting RSUs ("performance shares"). As of September 30, 2022, unrecognized compensation costs for unvested awards under the 2017 Plan were approximately $141 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, 2022, we granted 507,000 RSUs with a weighted average grant date fair value per share of $150.58, which vest in equal annual installments over two Options During the nine months ended September 30, 2022, we granted 318,000 options with an exercise price per share of $150.67, 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, 2022 was $51.15, which was determined using the Black-Scholes-Merton option-pricing model with the following assumptions: Expected volatility (1) 33.28 % Dividend yield (2) 0.41 % Risk-free rate (3) 1.93 % 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 look back period that corresponds to the expected term of the option. (2) Estimated based on the expectation, at the date of grant, of the resumption of a quarterly $0.15 per share dividend, as well as our three-month average stock price. (3) Based on the yields of U.S. Department of Treasury instruments with similar expected terms at the date of grant. (4) Estimated using the midpoint of the vesting period and the contractual term of the options. Performance Shares During the nine months ended September 30, 2022, we granted 216,000 performance shares with a grant date fair value per share of $150.67. We recognize compensation expense based on the total number of performance shares that are expected to vest as determined by the projected achievement of each of the performance measures, which are estimated each reporting period and range from zero percent to 200 percent, with 100 percent being the target. As of September 30, 2022, we determined that all of the performance measures for the outstanding performance shares were probable of achievement, with the average of the achievement factors estimated to be between the target and maximum achievement percentages for the performance shares granted in 2020 and 2021 and at target for the performance shares granted in 2022.

Earnings (Loss) Per Share

Earnings (Loss) Per Share	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Earnings (Loss) Per Share	The following table presents the calculation of basic and diluted earnings per share ("EPS"): Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 (in millions, except per share amounts) Basic EPS: Numerator: Net income attributable to Hilton stockholders $ 347 $ 241 $ 927 $ 263 Denominator: Weighted average shares outstanding 273 279 277 278 Basic EPS $ 1.27 $ 0.86 $ 3.35 $ 0.94 Diluted EPS: Numerator: Net income attributable to Hilton stockholders $ 347 $ 241 $ 927 $ 263 Denominator: Weighted average shares outstanding (1) 275 281 279 281 Diluted EPS $ 1.26 $ 0.86 $ 3.32 $ 0.94 ____________ (1) Certain shares related to share-based compensation were excluded from the calculations of diluted EPS because their effect would have been anti-dilutive under the treasury stock method, including 1 million shares for both the three and nine months ended September 30, 2022, and less than 1 million shares for both the three and nine months ended September 30, 2021.

Stockholders' Equity (Deficit)

Stockholders' Equity (Deficit) and Accumulated Other Comprehensive Loss	9 Months Ended
	Sep. 30, 2022
Stockholders' Equity Note [Abstract]
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, 2022 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, 2022 275.5 $ 3 $ (5,048) $ 10,753 $ (5,783) $ (714) $ — $ (789) Net income (loss) — — — — 347 — (1) 346 Other comprehensive income — — — — — 29 — 29 Dividends (1) — — — — (41) — — (41) Repurchases of common stock (2) (4.0) — (497) — — — — (497) Share-based compensation — — — 38 — — — 38 Balance as of September 30, 2022 271.5 $ 3 $ (5,545) $ 10,791 $ (5,477) $ (685) $ (1) $ (914) 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 278.7 $ 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 278.7 $ 3 $ (4,447) $ 10,654 $ (6,469) $ (869) $ — $ (1,128) Nine Months Ended September 30, 2022 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, 2021 279.1 $ 3 $ (4,443) $ 10,720 $ (6,322) $ (779) $ 2 $ (819) Net income (loss) — — — — 927 — (3) 924 Other comprehensive income — — — — — 94 — 94 Dividends (1) — — — — (82) — — (82) Repurchases of common stock (2) (8.5) — (1,107) — — — — (1,107) Share-based compensation 0.9 — 5 71 — — — 76 Balance as of September 30, 2022 271.5 $ 3 $ (5,545) $ 10,791 $ (5,477) $ (685) $ (1) $ (914) 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 277.6 $ 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 1.1 — 6 102 — — — 108 Balance as of September 30, 2021 278.7 $ 3 $ (4,447) $ 10,654 $ (6,469) $ (869) $ — $ (1,128) ____________ (1) During the three months ended June 30, 2022, we resumed payment of regular quarterly cash dividends. (2) During the three months ended March 31, 2022, we resumed share repurchases under our previously authorized stock repurchase program. 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, 2021 $ (540) $ (210) $ (29) $ (779) Other comprehensive income (loss) before reclassifications (48) (2) 121 71 Amounts reclassified from accumulated other comprehensive loss 1 6 16 23 Net current period other comprehensive income (loss) (47) 4 137 94 Balance as of September 30, 2022 $ (587) $ (206) $ 108 $ (685) 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) ____________ (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, 2022 and 2021 relate to the liquidation of investments in foreign entities and were recognized in gain on foreign currency transactions and loss on sale of assets, net, respectively, in our condensed consolidated statements of operations. (2) Amounts reclassified relate to the amortization of prior service cost and amortization of net loss and were recognized in other non-operating income, net in our condensed consolidated statements of operations. (3) Amounts reclassified were the result of hedging instruments, including: (a) interest rate swaps, inclusive of interest rate swaps that were dedesignated, 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 various revenue line items, as applicable, in our condensed consolidated statements of operations.

Business Segments

Business Segments	9 Months Ended
	Sep. 30, 2022
Segment Reporting [Abstract]
Business Segments	We are a hospitality company with operations organized in two distinct operating segments: (i) management and franchise and (ii) ownership, each of which is reported as a segment based on: (a) delivering a similar set of products and services and (b) being managed separately given its 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 IP and where we provide other contracted services to third-party owners, but the day-to-day services of the hotels are operated or managed by someone other than us. This segment generates its revenue from: (i) management and franchise fees charged to third-party owners; (ii) licensing fees from Hilton Grand Vacations Inc. ("HGV") and strategic partnerships, including co-branded credit card arrangements, for the right to use our IP; and (iii) fees for managing hotels in our ownership segment. As of September 30, 2022, this segment included 759 managed hotels and 6,175 franchised hotels consisting of 1,080,454 total rooms. As of September 30, 2022, our ownership segment included 54 properties totaling 18,151 rooms. The segment comprised 46 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. As a result of the pandemic, the operations of approximately 15 hotels in our ownership segment were suspended for some period of time during the nine months ended September 30, 2021, while no hotels in our ownership segment suspended operations as a result of the pandemic during the nine months ended September 30, 2022. 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, other revenues and other expenses from managed and franchised properties, depreciation and amortization 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, 2022 2021 2022 2021 (in millions) Franchise and licensing fees $ 578 $ 455 $ 1,544 $ 1,072 Base and other management fees (1) 88 57 235 135 Incentive management fees 52 26 132 60 Management and franchise 718 538 1,911 1,267 Ownership 295 199 727 376 Segment revenues 1,013 737 2,638 1,643 Amortization of contract acquisition costs (10) (9) (28) (23) Other revenues 28 18 71 56 Direct reimbursements from managed and franchised properties (2) 643 446 1,764 998 Indirect reimbursements from managed and franchised properties (2) 701 560 1,898 1,284 Intersegment fees elimination (1) (7) (3) (14) (6) Total revenues $ 2,368 $ 1,749 $ 6,329 $ 3,952 ____________ (1) Includes management, royalty and IP fees charged to consolidated hotels in 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 each of our reportable segments, reconciled to consolidated income before income taxes: Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 (in millions) Management and franchise (1) $ 718 $ 538 $ 1,911 $ 1,267 Ownership (1) 25 (4) 8 (82) Segment operating income 743 534 1,919 1,185 Amortization of contract acquisition costs (10) (9) (28) (23) Other revenues, less other expenses 15 6 36 25 Net other revenues (expenses) from managed and franchised properties 7 62 73 (57) Depreciation and amortization expenses (39) (46) (123) (143) General and administrative expenses (93) (107) (287) (302) Loss on sale of assets, net — (8) — (8) Operating income 623 432 1,590 677 Interest expense (106) (98) (295) (302) Gain on foreign currency transactions — — 4 1 Loss on debt extinguishment — — — (69) Other non-operating income, net 10 6 32 16 Income before income taxes $ 527 $ 340 $ 1,331 $ 323 ____________ (1) Includes management, royalty and IP fees charged to consolidated hotels in 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, 2022
Commitments and Contingencies Disclosure [Abstract]
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, 2022, we had performance guarantees with expirations ranging from 2025 to 2043 and potential cash outlays totaling $8 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 for that particular hotel. As of September 30, 2022, we had extended debt guarantees and letters of credit with expirations ranging from 2023 to 2031 and potential cash outlays totaling $124 million to owners of certain hotels that we will in the future or do currently manage or franchise. We receive fees from managed and franchised properties that we are contractually required to use to operate our marketing, sales and brands programs on behalf of our hotel owners. If we collect amounts in excess of amounts expended, we have a commitment to spend these amounts on the related programs. As of September 30, 2022, amounts collected on behalf of these programs exceeded the amounts expended, and, as of December 31, 2021, amounts expended on behalf of these programs exceeded the amounts collected. 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, 2022 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, 2022
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, 2022: (in millions) Balance as of December 31, 2021 $ 1,166 Cash received in advance and not recognized as revenue 329 Revenue recognized (1)(2) (380) Other (3) (64) Balance as of September 30, 2022 $ 1,051 ____________ (1) Primarily related to Hilton Honors, our guest loyalty program, including co-branded credit card arrangements. (2) Revenue recognized during the three months ended September 30, 2022 was $139 million. Revenue recognized during the three and nine months ended September 30, 2022 included a net increase in revenue of $7 million and $4 million, respectively, for Hilton Honors points redeemed 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. (3) Primarily represents changes in estimated transaction prices for our performance obligations related to the issuance of Hilton Honors points, which had no effect on revenues.

Consolidated Variable Interes_2

Consolidated Variable Interest Entities (Tables)	9 Months Ended
	Sep. 30, 2022
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, 2022 2021 (in millions) Cash and cash equivalents $ 20 $ 18 Property and equipment, net 42 60 Deferred income tax assets 49 62 Other non-current assets 49 62 Accounts payable, accrued expenses and other 15 15 Long-term debt (1) 145 179 Other long-term liabilities 14 16 ____________

Finite-Lived Intangible Assets

Finite-Lived Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule Of Management and Franchise Contracts	Management and franchise contracts, net were as follows: September 30, 2022 Gross Carrying Value Accumulated Amortization Net (in millions) Management contracts recorded at Merger (1) $ 283 $ (265) $ 18 Contract acquisition costs 936 (195) 741 Development commissions and other 145 (30) 115 $ 1,364 $ (490) $ 874 December 31, 2021 Gross Carrying Value Accumulated Amortization Net (in millions) Management contracts recorded at Merger (1) $ 310 $ (275) $ 35 Contract acquisition costs 780 (170) 610 Development commissions and other 140 (27) 113 $ 1,230 $ (472) $ 758 ____________ (1) Represents intangible assets that were initially recorded at fair value as part of the 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, 2022 2021 2022 2021 (in millions) Recognized in depreciation and amortization expenses (1) $ 27 $ 32 $ 88 $ 103 Recognized as a reduction of franchise and licensing fees and base and other management fees 10 9 28 23 ____________ (1) Includes amortization expense associated with assets that were initially recorded at fair value at the time of the Merger of $11 million for both the three months ended September 30, 2022 and 2021 and $34 million and $35 million for the nine months ended September 30, 2022 and 2021, respectively.

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2022
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, 2022, were as follows: September 30, December 31, 2022 2021 (in millions) Senior secured term loan facility with a rate of 4.83%, due 2026 $ 2,619 $ 2,619 Senior notes with a rate of 5.375%, due 2025 (1) 500 500 Senior notes with a rate of 4.875%, due 2027 (1) 600 600 Senior notes with a rate of 5.750%, due 2028 (1) 500 500 Senior notes with a rate of 3.750%, due 2029 (1) 800 800 Senior notes with a rate of 4.875%, due 2030 (1) 1,000 1,000 Senior notes with a rate of 4.000%, due 2031 (1) 1,100 1,100 Senior notes with a rate of 3.625%, due 2032 (1) 1,500 1,500 Finance lease liabilities with a weighted average rate of 5.85%, due 2022 to 2030 153 208 Other debt of consolidated VIEs with a weighted average rate of 1.21%, due 2023 to 2029 (2) 36 26 8,808 8,853 Less: unamortized deferred financing costs and discount (77) (87) Less: current maturities of long-term debt (3) (39) (54) $ 8,692 $ 8,712 ____________ (1) These notes are collectively referred to as the Senior Notes and are jointly and severally guaranteed on a senior unsecured basis by the Parent and substantially all of its direct and indirect wholly owned domestic restricted subsidiaries, other than Hilton Domestic Operating Company Inc., an indirect wholly owned subsidiary of the Parent and the issuer of all of the series of Senior Notes. (2) Refer to Note 3: "Consolidated Variable Interest Entities" for additional information on the debt of our consolidated VIEs. (3) Represents current maturities of finance lease liabilities and borrowings of a consolidated VIE.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements - Recurring and Disclosure	The fair values of certain financial instruments and the hierarchy level we used to estimate the fair values are shown below: September 30, 2022 Hierarchy Level Carrying Value Level 1 Level 2 Level 3 (in millions) Assets: Cash equivalents $ 499 $ — $ 499 $ — Interest rate swap (1) 116 — 116 — Liabilities: Long-term debt (2) 8,542 5,086 — 2,551 December 31, 2021 Hierarchy Level Carrying Value Level 1 Level 2 Level 3 (in millions) Assets: Cash equivalents $ 622 $ — $ 622 $ — Liabilities: Long-term debt (2) 8,532 6,180 — 2,599 Interest rate swaps (1) 41 — 41 — ____________ (1) Interest rate swaps are included in other non-current assets or other long-term liabilities in our condensed consolidated balance sheets depending on their value to us as of the balance sheet date. During the nine months ended September 30, 2022, one of the interest rate swaps that was outstanding as of December 31, 2021 matured. The remaining interest rate swap outstanding as of September 30, 2022 will mature in March 2026. (2) The carrying values include the deduction for unamortized deferred financing costs and any applicable discounts. 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, 2022
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, 2022 was $51.15, which was determined using the Black-Scholes-Merton option-pricing model with the following assumptions: Expected volatility (1) 33.28 % Dividend yield (2) 0.41 % Risk-free rate (3) 1.93 % 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 look back period that corresponds to the expected term of the option. (2) Estimated based on the expectation, at the date of grant, of the resumption of a quarterly $0.15 per share dividend, as well as our three-month average stock price. (3) Based on the yields of U.S. Department of Treasury instruments with similar expected terms at the date of grant. (4) Estimated using the midpoint of the vesting period and the contractual term of the options.

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Basic and Diluted Earnings (Loss) Per Share	The following table presents the calculation of basic and diluted earnings per share ("EPS"): Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 (in millions, except per share amounts) Basic EPS: Numerator: Net income attributable to Hilton stockholders $ 347 $ 241 $ 927 $ 263 Denominator: Weighted average shares outstanding 273 279 277 278 Basic EPS $ 1.27 $ 0.86 $ 3.35 $ 0.94 Diluted EPS: Numerator: Net income attributable to Hilton stockholders $ 347 $ 241 $ 927 $ 263 Denominator: Weighted average shares outstanding (1) 275 281 279 281 Diluted EPS $ 1.26 $ 0.86 $ 3.32 $ 0.94 ____________ (1) Certain shares related to share-based compensation were excluded from the calculations of diluted EPS because their effect would have been anti-dilutive under the treasury stock method, including 1 million shares for both the three and nine months ended September 30, 2022, and less than 1 million shares for both the three and nine months ended September 30, 2021.

Stockholders' Equity (Deficit_2

Stockholders' Equity (Deficit) and Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Sep. 30, 2022
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, 2022 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, 2022 275.5 $ 3 $ (5,048) $ 10,753 $ (5,783) $ (714) $ — $ (789) Net income (loss) — — — — 347 — (1) 346 Other comprehensive income — — — — — 29 — 29 Dividends (1) — — — — (41) — — (41) Repurchases of common stock (2) (4.0) — (497) — — — — (497) Share-based compensation — — — 38 — — — 38 Balance as of September 30, 2022 271.5 $ 3 $ (5,545) $ 10,791 $ (5,477) $ (685) $ (1) $ (914) 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 278.7 $ 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 278.7 $ 3 $ (4,447) $ 10,654 $ (6,469) $ (869) $ — $ (1,128) Nine Months Ended September 30, 2022 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, 2021 279.1 $ 3 $ (4,443) $ 10,720 $ (6,322) $ (779) $ 2 $ (819) Net income (loss) — — — — 927 — (3) 924 Other comprehensive income — — — — — 94 — 94 Dividends (1) — — — — (82) — — (82) Repurchases of common stock (2) (8.5) — (1,107) — — — — (1,107) Share-based compensation 0.9 — 5 71 — — — 76 Balance as of September 30, 2022 271.5 $ 3 $ (5,545) $ 10,791 $ (5,477) $ (685) $ (1) $ (914) 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 277.6 $ 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 1.1 — 6 102 — — — 108 Balance as of September 30, 2021 278.7 $ 3 $ (4,447) $ 10,654 $ (6,469) $ (869) $ — $ (1,128) ____________ (1) During the three months ended June 30, 2022, we resumed payment of regular quarterly cash dividends. (2) During the three months ended March 31, 2022, we resumed share repurchases under our previously authorized stock repurchase program.
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, 2021 $ (540) $ (210) $ (29) $ (779) Other comprehensive income (loss) before reclassifications (48) (2) 121 71 Amounts reclassified from accumulated other comprehensive loss 1 6 16 23 Net current period other comprehensive income (loss) (47) 4 137 94 Balance as of September 30, 2022 $ (587) $ (206) $ 108 $ (685) 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) ____________ (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, 2022 and 2021 relate to the liquidation of investments in foreign entities and were recognized in gain on foreign currency transactions and loss on sale of assets, net, respectively, in our condensed consolidated statements of operations. (2) Amounts reclassified relate to the amortization of prior service cost and amortization of net loss and were recognized in other non-operating income, net in our condensed consolidated statements of operations. (3) Amounts reclassified were the result of hedging instruments, including: (a) interest rate swaps, inclusive of interest rate swaps that were dedesignated, 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 various revenue line items, as applicable, in our condensed consolidated statements of operations.

Business Segments (Tables)

Business Segments (Tables)	9 Months Ended
	Sep. 30, 2022
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, 2022 2021 2022 2021 (in millions) Franchise and licensing fees $ 578 $ 455 $ 1,544 $ 1,072 Base and other management fees (1) 88 57 235 135 Incentive management fees 52 26 132 60 Management and franchise 718 538 1,911 1,267 Ownership 295 199 727 376 Segment revenues 1,013 737 2,638 1,643 Amortization of contract acquisition costs (10) (9) (28) (23) Other revenues 28 18 71 56 Direct reimbursements from managed and franchised properties (2) 643 446 1,764 998 Indirect reimbursements from managed and franchised properties (2) 701 560 1,898 1,284 Intersegment fees elimination (1) (7) (3) (14) (6) Total revenues $ 2,368 $ 1,749 $ 6,329 $ 3,952 ____________ (1) Includes management, royalty and IP fees charged to consolidated hotels in 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 each of our reportable segments, reconciled to consolidated income before income taxes: Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 (in millions) Management and franchise (1) $ 718 $ 538 $ 1,911 $ 1,267 Ownership (1) 25 (4) 8 (82) Segment operating income 743 534 1,919 1,185 Amortization of contract acquisition costs (10) (9) (28) (23) Other revenues, less other expenses 15 6 36 25 Net other revenues (expenses) from managed and franchised properties 7 62 73 (57) Depreciation and amortization expenses (39) (46) (123) (143) General and administrative expenses (93) (107) (287) (302) Loss on sale of assets, net — (8) — (8) Operating income 623 432 1,590 677 Interest expense (106) (98) (295) (302) Gain on foreign currency transactions — — 4 1 Loss on debt extinguishment — — — (69) Other non-operating income, net 10 6 32 16 Income before income taxes $ 527 $ 340 $ 1,331 $ 323 ____________ (1) Includes management, royalty and IP fees charged to consolidated hotels in 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, 2022 Hotel Room Country
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of hotels and resorts | Hotel	7,061
Number of hotel and resort rooms | Room	1,111,147
Number of countries and territories | Country	123

Revenues from Contracts with _3

Revenues from Contracts with Customers - Contract Liabilities (Details) - USD ($) $ in Millions		3 Months Ended	9 Months Ended
		Sep. 30, 2022	Sep. 30, 2022		Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Contract liabilities balance		$ 1,051	$ 1,051		$ 1,166
Cash received in advance not recognized as revenue			329
Revenue recognized	[1]	(139)	380	[2]
Other	[3]		64
Revenue recognized from performance obligations satisfied in previous period	[1]	$ 7	$ 4
[1]Revenue recognized during the three months ended September 30, 2022 was $139 million. Revenue recognized during the three and nine months ended September 30, 2022 included a net increase in revenue of $7 million and $4 million, respectively, for Hilton Honors points redeemed 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.[2]Primarily related to Hilton Honors, our guest loyalty program, including co-branded credit card arrangements.[3]Primarily represents changes in estimated transaction prices for our performance obligations related to the issuance of Hilton Honors points, which had no effect on revenues.

Revenues from Contracts with _4

Revenues from Contracts with Customers - Additional Information (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022 USD ($)		Sep. 30, 2022 USD ($)
Revenue from Contract with Customer [Abstract]
Revenue recognized	$ (139)	[1]	$ 380	[1],[2]
Guest loyalty program revenues
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	352		$ 352
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Explanation			two years
Co-branded credit card arrangement performance obligations
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	30		$ 30
Application, initiation and other fees
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 669		$ 669
[1]Revenue recognized during the three months ended September 30, 2022 was $139 million. Revenue recognized during the three and nine months ended September 30, 2022 included a net increase in revenue of $7 million and $4 million, respectively, for Hilton Honors points redeemed 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.[2]Primarily related to Hilton Honors, our guest loyalty program, including co-branded credit card arrangements.

Consolidated Variable Interes_3

Consolidated Variable Interest Entities - Schedule of Consolidated Variable Interest Entities (Details) ¥ in Millions, $ in Millions		Sep. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2021 JPY (¥)
Variable Interest Entity [Line Items]
Cash and cash equivalents		$ 1,282	$ 1,427
Property and equipment, net		254	305
Deferred income tax assets		213	213
Other non-current assets		605	452
Accounts payable, accrued expenses and other		1,728	1,568
Other long-term liabilities		689	746
Long-term debt, gross		8,808	8,853
VIE revolving credit facility
Variable Interest Entity [Line Items]
Long-term debt, gross			4	¥ 500
Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Cash and cash equivalents		20	18
Property and equipment, net		42	60
Deferred income tax assets		49	62
Other non-current assets		49	62
Accounts payable, accrued expenses and other		15	15
Long-term debt	[1]	145	179
Other long-term liabilities		14	(16)
Finance lease liabilities		$ 109	$ 153
[1]Includes finance lease liabilities of $109 million and $153 million as of September 30, 2022 and December 31, 2021, respectively.

Consolidated Variable Interes_4

Consolidated Variable Interest Entities - Additional Information (Details) ¥ in Millions, $ in Millions	Sep. 30, 2022 JPY (¥) Hotel Rate	Sep. 30, 2022 USD ($) Hotel Rate	Dec. 31, 2021 JPY (¥) Hotel	Dec. 31, 2021 USD ($) Hotel
Variable Interest Entity [Line Items]
Number of consolidated variable interest entities | Hotel	2	2	2	2
Long-term debt, gross | $		$ 8,808		$ 8,853
VIE Loan, Aggregate Amount
Variable Interest Entity [Line Items]
Debt instrument, face amount	¥ 2,700	$ 19
VIE revolving credit facility
Variable Interest Entity [Line Items]
Debt, weighted average interest rate | Rate	1.22%	1.22%
Long-term debt, gross			¥ 500	$ 4

Finite-Lived Intangible Asset_2

Finite-Lived Intangible Assets - Schedule of Finite Lived Intangible Assets (Details) - USD ($) $ in Millions		Sep. 30, 2022	Dec. 31, 2021
Management contracts recorded at merger
Finite-Lived Intangible Assets [Line Items]
Management and franchise contracts, gross	[1]	$ 283	$ 310
Management and franchise contracts, accumulated amortization	[1]	(265)	(275)
Management and franchise contracts, net	[1]	18	35
Contract acquisition costs
Finite-Lived Intangible Assets [Line Items]
Management and franchise contracts, gross		936	780
Management and franchise contracts, accumulated amortization		(195)	(170)
Management and franchise contracts, net		741	610
Development commissions and other
Finite-Lived Intangible Assets [Line Items]
Management and franchise contracts, gross		145	140
Management and franchise contracts, accumulated amortization		(30)	(27)
Management and franchise contracts, net		115	113
Management and franchise
Finite-Lived Intangible Assets [Line Items]
Management and franchise contracts, gross		1,364	1,230
Management and franchise contracts, accumulated amortization		(490)	(472)
Management and franchise contracts, net		$ 874	$ 758
[1]Represents intangible assets that were initially recorded at fair value as part of the 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, 2022	Sep. 30, 2021		Sep. 30, 2022		Sep. 30, 2021
Recognized in depreciation and amortization expense
Finite-Lived Intangible Assets [Line Items]
Amortization of contract acquisition costs	[1]	$ 27	$ 32		$ 88		$ 103
Recognized in depreciation and amortization expense | Intangible assets recorded at fair value at the time of the Merger
Finite-Lived Intangible Assets [Line Items]
Amortization of contract acquisition costs		11	11	[1]	34	[1]	35	[1]
Recognized as a reduction of franchise and licensing fees and base and other management fees
Finite-Lived Intangible Assets [Line Items]
Amortization of contract acquisition costs		$ 10	$ 9		$ 28		$ 23
[1]Includes amortization expense associated with assets that were initially recorded at fair value at the time of the Merger of $11 million for both the three months ended September 30, 2022 and 2021 and $34 million and $35 million for the nine months ended September 30, 2022 and 2021, respectively.

Debt - Long-term Debt (Details)

Debt - Long-term Debt (Details) - USD ($) $ in Millions		Sep. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Long-term debt, gross		$ 8,808	$ 8,853
Unamortized deferred financing costs and discount		(77)	(87)
Current maturities of long-term debt	[1]	(39)	(54)
Long-term debt		8,692	8,712
Senior secured term loan facility
Debt Instrument [Line Items]
Long-term debt, gross		$ 2,619	2,619
Debt instrument, interest rate, stated percentage		4.83%
Senior notes due 2025
Debt Instrument [Line Items]
Long-term debt, gross	[2]	$ 500	500
Debt instrument, interest rate, stated percentage		5.375%
Senior notes due 2027
Debt Instrument [Line Items]
Long-term debt, gross	[2]	$ 600	600
Debt instrument, interest rate, stated percentage		4.875%
Senior Notes due 2028
Debt Instrument [Line Items]
Long-term debt, gross	[2]	$ 500	500
Debt instrument, interest rate, stated percentage		5.75%
Senior notes due 2029
Debt Instrument [Line Items]
Long-term debt, gross	[2]	$ 800	800
Debt instrument, interest rate, stated percentage		3.75%
Senior notes due 2030
Debt Instrument [Line Items]
Long-term debt, gross	[2]	$ 1,000	1,000
Debt instrument, interest rate, stated percentage		4.875%
Senior Notes due 2031
Debt Instrument [Line Items]
Long-term debt, gross	[2]	$ 1,100	1,100
Debt instrument, interest rate, stated percentage		4%
Senior Notes due 2032
Debt Instrument [Line Items]
Long-term debt, gross	[2]	$ 1,500	1,500
Debt instrument, interest rate, stated percentage		3.625%
Finance lease liabilities
Debt Instrument [Line Items]
Long-term debt, gross		$ 153	208
Debt, weighted average interest rate		5.85%
Other debt of consolidated VIEs
Debt Instrument [Line Items]
Long-term debt, gross	[3]	$ 36	$ 26
Debt, weighted average interest rate		1.21%
[1]Represents current maturities of finance lease liabilities and borrowings of a consolidated VIE.[2]These notes are collectively referred to as the Senior Notes and are jointly and severally guaranteed on a senior unsecured basis by the Parent and substantially all of its direct and indirect wholly owned domestic restricted subsidiaries, other than Hilton Domestic Operating Company Inc., an indirect wholly owned subsidiary of the Parent and the issuer of all of the series of Senior Notes.[3]Refer to Note 3: "Consolidated Variable Interest Entities" for additional information on the debt of our consolidated VIEs

Debt - Additional Information (

Debt - Additional Information (Details) - Senior secured revolving credit facility $ in Millions	Sep. 30, 2022 USD ($)
Debt Instrument [Line Items]
Revolving credit facility, maximum borrowing capacity	$ 1,750
Letters of credit outstanding	60
Revolving credit facility, remaining borrowing capacity	$ 1,690

Fair Value Measurements - Recur

Fair Value Measurements - Recurring & Disclosure (Details) - USD ($) $ in Millions		Sep. 30, 2022	Dec. 31, 2021
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents		$ 499	$ 622
Interest rate swaps, assets	[1]	116
Interest rate swaps, liabilities	[1]		41
Carrying Value | Long-term debt excluding finance lease liabilities and other debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	[2]	8,542	8,532
Level 1 | Long-term debt excluding finance lease liabilities and other debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	[2]	5,086	6,180
Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents		499	622
Interest rate swaps, assets	[1]	116
Interest rate swaps, liabilities	[1]		41
Level 3 | Long-term debt excluding finance lease liabilities and other debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	[2]	$ 2,551	$ 2,599
[1]Interest rate swaps are included in other non-current assets or other long-term liabilities in our condensed consolidated balance sheets depending on their value to us as of the balance sheet date. During the nine months ended September 30, 2022, one of the interest rate swaps that was outstanding as of December 31, 2021 matured. The remaining interest rate swap outstanding as of September 30, 2022 will mature in March 2026.[2]The carrying values include the deduction for unamortized deferred financing costs and any applicable discounts. The carrying values and fair values exclude finance lease liabilities and other debt of consolidated VIEs.

Share-Based Compensation - Sche

Share-Based Compensation - Schedule of Stock Options Valuation Assumptions (Details)	9 Months Ended
	Sep. 30, 2022 USD ($) $ / shares Rate
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected dividend (USD per share) | $	$ 0.15
Employee stock option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options, grants in period, grant date fair value | $ / shares	$ 51.15
Expected volatility	33.28%	[1]
Dividend yield	0.41%	[2]
Risk-free rate	1.93%	[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 look back period that corresponds to the expected term of the option.[2]Estimated based on the expectation, at the date of grant, of the resumption of a quarterly $0.15 per share dividend, as well as our three-month average stock price.[3]Based on the yields of U.S. Department of Treasury instruments with similar expected terms at the date of grant.[4]Estimated using the midpoint of the vesting period 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, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense (benefit)	$ 42	$ 52	$ 126	$ 144
Unrecognized compensation costs related to unvested awards	$ 141		$ 141
Unrecognized compensation costs related to unvested awards, weighted-average period			1 year 8 months 12 days
Restricted stock units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (shares)			507,000
Weighted average grant date fair value, granted (USD per share)			$ 150.58
Employee stock option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			3 years
Options granted in period (shares)			318,000
Options granted in period, weighted average exercise price (USD per share)			$ 150.67
Options, expiration period			10 years
Performance shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (shares)			216,000
Weighted average grant date fair value, granted (USD per share)			$ 150.67
Minimum achievement percentage | Performance shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting rights, percentage			0%
Maximum achievement percentage | Performance shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting rights, percentage			200%
Target achievement percentage | Performance shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting rights, percentage			100%
Minimum | Restricted stock units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			2 years
Maximum | Restricted stock units (RSUs)
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, shares in Millions, $ in Millions		3 Months Ended			9 Months Ended
		Sep. 30, 2022	Sep. 30, 2021		Sep. 30, 2022		Sep. 30, 2021
Basic EPS:
Net income attributable to Hilton stockholders		$ 347	$ 241		$ 927		$ 263
Weighted average shares outstanding, basic (shares)		273	279		277		278
Earnings (loss) per share, basic (USD per share)		$ 1.27	$ 0.86		$ 3.35		$ 0.94
Diluted EPS:
Net income attributable to Hilton stockholders		$ 347	$ 241		$ 927		$ 263
Weighted average shares outstanding, diluted (shares)	[1]	275	281		279		281
Earnings (loss) per share, diluted (USD per share)		$ 1.26	$ 0.86		$ 3.32		$ 0.94
Antidilutive shares (less than)		1	1	[1]	1	[1]	1	[1]
Antidilutive shares		1	1	[1]	1	[1]	1	[1]
[1]Certain shares related to share-based compensation were excluded from the calculations of diluted EPS because their effect would have been anti-dilutive under the treasury stock method, including 1 million shares for both the three and nine months ended September 30, 2022, and less than 1 million shares for both the three and nine months ended September 30, 2021.

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, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Class of Stock [Line Items]
Beginning balance, shares				279,091,009
Beginning balance, equity attributable to Hilton stockholders				$ (821)
Beginning balance, equity attributable to noncontrolling interest				(2)
Beginning balance, equity		$ (789)	$ (1,416)	(819)	$ (1,486)
Net income (loss) attributable to Hilton stockholders		347	241	927	263
Net loss (income) attributable to noncontrolling interests		(1)	(1)	(3)	(4)
Net income (loss)		346	240	924	259
Other comprehensive income (loss)		29	(3)	94	(9)
Repurchases of common stock	[1]	(497)		(1,107)
Increase (decrease) in stockholders’ equity from share-based compensation		$ 38	51	$ 76	108
Ending balance, shares		271,541,523		271,541,523
Ending balance, equity attributable to Hilton stockholders		$ (913)		$ (913)
Ending balance, equity attributable to noncontrolling interest		1		1
Ending balance, equity		(914)	$ (1,128)	(914)	$ (1,128)
Dividends	[2]	$ (41)		$ (82)
Common Stock
Class of Stock [Line Items]
Beginning balance, shares		275,500,000	278,700,000	279,100,000	277,600,000
Beginning balance, equity attributable to Hilton stockholders		$ 3	$ 3	$ 3	$ 3
Repurchases of common stock (shares)	[1]	(4,000,000)		(8,500,000)
Share-based compensation (shares)		0	0	900,000	1,100,000
Ending balance, shares		271,500,000	278,700,000	271,500,000	278,700,000
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		(5,048)	(4,447)	(4,443)	(4,453)
Repurchases of common stock	[1]	(497)		(1,107)
Increase (decrease) in stockholders’ equity from share-based compensation		0	0	5	6
Ending balance, equity attributable to Hilton stockholders		(5,545)	(4,447)	(5,545)	(4,447)
Additional Paid-in Capital
Class of Stock [Line Items]
Beginning balance, equity attributable to Hilton stockholders		10,753	10,603	10,720	10,552
Increase (decrease) in stockholders’ equity from share-based compensation		38	51	71	102
Ending balance, equity attributable to Hilton stockholders		10,791	10,654	10,791	10,654
Accumulated Deficit
Class of Stock [Line Items]
Beginning balance, equity attributable to Hilton stockholders		(5,783)	(6,710)	(6,322)	(6,732)
Net income (loss) attributable to Hilton stockholders		347	241	927	263
Ending balance, equity attributable to Hilton stockholders		(5,477)	(6,469)	(5,477)	(6,469)
Dividends	[2]	(41)		(82)
Accumulated Other Comprehensive Loss
Class of Stock [Line Items]
Beginning balance, equity attributable to Hilton stockholders		(714)	(866)	(779)	(860)
Ending balance, equity attributable to Hilton stockholders		(685)	(869)	(685)	(869)
Other comprehensive income (loss) attributable to Hilton stockholders		29	(3)	94	(9)
Noncontrolling Interests
Class of Stock [Line Items]
Beginning balance, equity attributable to noncontrolling interest		0	1	2	4
Net loss (income) attributable to noncontrolling interests		1	1	3
Ending balance, equity attributable to noncontrolling interest		$ (1)	$ 0	$ (1)	$ 0
[1]During the three months ended March 31, 2022, we resumed share repurchases under our previously authorized stock repurchase program.[2]During the three months ended June 30, 2022, we resumed payment of regular quarterly cash dividends.

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, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance				$ (779)
Ending balance		$ (685)		(685)
Currency translation adjustment
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	[1]			(540)	$ (511)
Other comprehensive income (loss) before reclassifications	[1]			(48)	(32)
Amounts reclassified from accumulated other comprehensive loss	[1]			1	6
Net current period other comprehensive income (loss)	[1]			(47)	(26)
Ending balance	[1]	(587)	$ (537)	(587)	(537)
Pension liability adjustment
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	[2]			(210)	(289)
Other comprehensive income (loss) before reclassifications	[2]			(2)	(2)
Amounts reclassified from accumulated other comprehensive loss	[2]			6	8
Net current period other comprehensive income (loss)	[2]			4	6
Ending balance	[2]	(206)	(283)	(206)	(283)
Cash flow hedge adjustment
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	[3]			(29)	(60)
Other comprehensive income (loss) before reclassifications	[3]			121	(4)
Amounts reclassified from accumulated other comprehensive loss	[3]			16	15
Net current period other comprehensive income (loss)	[3]			137	11
Ending balance	[3]	108	(49)	108	(49)
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance				(779)	(860)
Other comprehensive income (loss) before reclassifications				71	(38)
Amounts reclassified from accumulated other comprehensive loss				23	29
Net current period other comprehensive income (loss)		29	(3)	94	(9)
Ending balance		$ (685)	$ (869)	$ (685)	$ (869)
[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, 2022 and 2021 relate to the liquidation of investments in foreign entities and were recognized in gain on foreign currency transactions and loss on sale of assets, net, respectively, in our condensed consolidated statements of operations.[2]Amounts reclassified relate to the amortization of prior service cost and amortization of net loss and were recognized in other non-operating income, net in our condensed consolidated statements of operations.[3]Amounts reclassified were the result of hedging instruments, including: (a) interest rate swaps, inclusive of interest rate swaps that were dedesignated, 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 various revenue line items, as applicable, in our condensed consolidated statements of operations

Business Segments - Segment Inf

Business Segments - Segment Information (Details)	9 Months Ended
	Sep. 30, 2022 Hotel Room Segment	Sep. 30, 2021 Hotel
Segment Reporting Information [Line Items]
Number of operating segments | Segment	2
Ownership
Segment Reporting Information [Line Items]
Number of Hotels with Suspended Operations at Some Time During the Period	0	15
Number of owned and leased hotel properties	54
Number of owned and leased hotel rooms | Room	18,151
Number of wholly owned and leased hotels	46
Number of non-wholly owned hotels	1
Number of hotels leased by consolidated VIEs	2
Number of hotels owned or leased by unconsolidated affiliates	5
Management and Franchise
Segment Reporting Information [Line Items]
Number of managed hotels	759
Number of franchised hotels	6,175
Number of managed and franchised hotel rooms | Room	1,080,454

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, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues		$ 2,368	$ 1,749	$ 6,329	$ 3,952
Amortization of contract acquisition costs		(10)	(9)	(28)	(23)
Ownership
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues		295	199	727	376
Management and Franchise
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues		718	538	1,911	1,267
Segment revenues
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues		1,013	737	2,638	1,643
Intersegment eliminations
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	[1]	7	3	14	6
Franchise and licensing fees
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues		573	451	1,531	1,062
Franchise and licensing fees | Management and Franchise
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues		578	455	1,544	1,072
Base and other management fees
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues		76	49	206	116
Base and other management fees | Management and Franchise
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	[1]	88	57	235	135
Incentive management fees
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues		52	26	132	60
Incentive management fees | Management and Franchise
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues		52	26	132	60
Other revenues
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues		28	18	71	56
Direct reimbursements from managed and franchised properties
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	[2]	643	446	1,764	998
Indirect reimbursements from managed and franchised properties
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	[2]	701	560	1,898	1,284
Owned and leased hotels
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues		$ 295	$ 199	$ 727	$ 376
[1]Includes management, royalty and IP fees charged to consolidated hotels in 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, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Operating income (loss)		$ 623	$ 432	$ 1,590	$ 677
Amortization of contract acquisition costs		(10)	(9)	(28)	(23)
Other revenues, less other expenses		15	6	36	25
Net other revenues (expenses) from managed and franchised properties		7	62	73	(57)
Depreciation and amortization expenses		(39)	(46)	(123)	(143)
General and administrative expenses		(93)	(107)	(287)	(302)
Loss on sale of assets, net		0	(8)	0	(8)
Interest expense		(106)	(98)	(295)	(302)
Gain on foreign currency transactions		0	0	4	1
Loss on debt extinguishment		0	0	0	(69)
Other non-operating income (loss), net		10	6	32	16
Income (loss) before income taxes		527	340	1,331	323
Ownership
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Operating income (loss)	[1]	25	(4)	8	(82)
Management and Franchise
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Operating income (loss)	[1]	718	538	1,911	1,267
Segment operating income
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Operating income (loss)		$ (743)	$ 534	$ 1,919	$ 1,185
[1]Includes management, royalty and IP fees charged to consolidated hotels in 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	9 Months Ended
	Sep. 30, 2022 USD ($)
Performance guarantees
Commitments and Contingencies [Line Items]
Guarantees, possible cash outlays	$ 8
Guarantees, expiration	2025 to 2043
Debt guarantee
Commitments and Contingencies [Line Items]
Guarantees, possible cash outlays	$ 124
Guarantees, expiration	2023 to 2031