Park Hotels & Resorts (PK) 10-Q 4 Aug 22 2022 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2022	Jul. 29, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Trading Symbol	PK
Entity Registrant Name	Park Hotels & Resorts Inc.
Entity Central Index Key	0001617406
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		224,842,650
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity Interactive Data Current	Yes
Title of 12(b) Security	Common Stock, $0.01 par value per share
Security Exchange Name	NYSE
Entity Incorporation, State or Country Code	DE
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	001-37795
Entity Tax Identification Number	36-2058176
Entity Address, Address Line One	1775 Tysons Boulevard
Entity Address, Address Line Two	7th Floor
Entity Address, City or Town	Tysons
Entity Address, State or Province	VA
Entity Address, Postal Zip Code	22102
City Area Code	571
Local Phone Number	302-5757

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2022		Dec. 31, 2021
ASSETS
Property and equipment, net	$ 8,326	[1]	$ 8,511
Assets held for sale, net	7		0
Investments in affiliates	4		15
Intangibles, net	43		44
Cash and cash equivalents	758		688
Restricted cash	109		75
Accounts receivable, net of allowance for doubtful accounts of $X and $2	149		96
Prepaid expenses	39		35
Other assets	38		69
Operating lease right-of-use assets	228		210
TOTAL ASSETS (variable interest entities - $237 and $237)	9,701		9,743
Liabilities
Debt	4,671		4,672
Accounts payable and accrued expenses	211		156
Due to hotel managers	124		111
Other liabilities	167		174
Operating lease liabilities	247		227
Total liabilities (variable interest entities - $X and $219)	5,420		5,340
Commitments and contingencies - refer to Note 12
Stockholders' Equity
Common stock, par value $0.01 per share, 6,000,000,000 shares authorized, 225,352,740 shares issued and 224,840,982 shares outstanding as of June 30, 2022 and 236,888,804 shares issued and 236,483,990 shares outstanding as of December 31, 2021	2		2
Additional paid-in capital	4,321		4,533
Retained earnings (accumulated deficit)	6		(83)
Total stockholders' equity	4,329		4,452
Noncontrolling interests	(48)		(49)
Total equity	4,281		4,403
TOTAL LIABILITIES AND EQUITY	$ 9,701		$ 9,743
[1] Exclu des $ 7 million of property and equipment, net, classified as held for sale as of June 30, 2022.

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Allowance for doubtful accounts receivable	$ 2	$ 2
Total assets	9,701	9,743
Total liabilities	$ 5,420	$ 5,340
Common stock, par value (per share)	$ 0.01	$ 0.01
Common stock, authorized shares	6,000,000,000	6,000,000,000
Common stock, issued shares	225,352,740	236,888,804
Common stock, outstanding shares	224,840,982	236,483,990
Consolidated VIEs [Member]
Total assets	$ 237	$ 237
Total liabilities	$ 219	$ 219

Condensed Consolidated Statemen

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) shares in Millions, $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Revenues
Total revenues		$ 695	$ 323	$ 1,174	$ 488
Operating expenses
Other property-level		65	52	115	100
Management fees		32	14	54	21
Casualty and impairment loss, net		1	5	1	5
Depreciation and amortization		68	71	137	145
Corporate general and administrative		16	16	32	34
Other		18	13	34	20
Total expenses		575	373	1,053	661
(Loss) gain on sales of assets, net		(1)	6	(1)	6
Operating income (loss)		119	(44)	120	(167)
Interest income		1	0	1	0
Interest expense		(62)	(66)	(124)	(129)
Equity in earnings (losses) from investments in affiliates		5	(2)	5	(6)
Other gain (loss), net		92	(2)	97	(2)
Income (loss) before income taxes		155	(114)	99	(304)
Income tax expense		(1)	0	(1)	(1)
Net income (loss)		154	(114)	98	(305)
Net income attributable to noncontrolling interests		(4)	(2)	(5)	(1)
Net income (loss) attributable to stockholders		150	(116)	93	(306)
Other comprehensive income, net of tax expense:
Change in fair value of interest rate swap, net of tax		0	0	0	1
Total other comprehensive income		0	0	0	1
Comprehensive income (loss)		154	(114)	98	(304)
Comprehensive income attributable to noncontrolling interests		(4)	(2)	(5)	(1)
Comprehensive income (loss) attributable to stockholders		$ 150	$ (116)	$ 93	$ (305)
Earnings (loss) per share:
Earnings (loss) per share - Basic	[1]	$ 0.66	$ (0.49)	$ 0.40	$ (1.30)
Earnings (loss) per share - Diluted	[1]	$ 0.66	$ (0.49)	$ 0.40	$ (1.30)
Weighted average shares outstanding - Basic		228	236	232	235
Weighted average shares outstanding - Diluted		228	236	232	236
Rooms [Member]
Revenues
Total revenues		$ 433	$ 207	$ 725	$ 313
Operating expenses
Expenses		98	59	183	94
Food and Beverage [Member]
Revenues
Total revenues		173	54	283	76
Operating expenses
Expenses		119	42	206	63
Ancillary Hotel [Member]
Revenues
Total revenues		70	50	131	79
Other [Member]
Revenues
Total revenues		19	12	35	20
Other Departmental and Support [Member]
Operating expenses
Expenses		$ 158	$ 101	$ 291	$ 179
[1] Per share amounts are calculated based on unrounded numbers and are calculated independently for each period presented.

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Operating Activities:
Net income (loss)	$ 154	$ (114)	$ 98	$ (305)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	68	71	137	145
Loss (gain) on sales of assets, net	1	(6)	1	(6)
Casualty and impairment loss, net	1	5	1	5
Equity in (earnings) losses from investments in affiliates	(5)	2	(5)	6
Other (gain) loss, net			(93)	2
Share-based compensation expense			9	10
Amortization of deferred financing costs			6	5
Distributions from unconsolidated affiliates			6	0
Changes in operating assets and liabilities			31	(23)
Net cash provided by (used in) operating activities			191	(161)
Investing Activities:
Capital expenditures for property and equipment			(52)	(13)
Proceeds from asset dispositions, net			98	168
Proceeds from the sale of investments in affiliates, net			101	0
Contributions to unconsolidated affiliates			0	(5)
Insurance proceeds for property damage claims			0	4
Net cash provided by investing activities			147	154
Financing Activities:
Repayments of credit facilities			0	(761)
Proceeds from issuance of Senior Secured Notes			0	750
Proceeds from Issuance of Mortgage Debt			30	14
Repayments of mortgage debt			(34)	(14)
Debt issuance costs			(3)	(15)
Dividends paid			(2)	0
Distributions to noncontrolling interests, net			(4)	0
Tax withholdings on share-based compensation			(3)	(4)
Repurchase of common stock			(218)	0
Net cash used in financing activities			(234)	(30)
Net increase (decrease) in cash and cash equivalents and restricted cash			104	(37)
Cash and cash equivalents and restricted cash, beginning of period			763	981
Cash and cash equivalents and restricted cash, end of period	867	944	867	944
Non-cash financing activities:
Dividends declared but unpaid	$ 2	$ 0	$ 2	$ 0

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Equity (Unaudited) - USD ($) $ in Millions		Total	Common Stock [Member]	Additional Paid-in Capital [Member]	(Accumulated Deficit) Retained Earnings [Member]	Accumulated Other Comprehensive Loss [Member]	Non-Controlling Interests [Member]
Balance at Dec. 31, 2020		$ 4,843	$ 2	$ 4,519	$ 376	$ (4)	$ (50)
Balance (shares) at Dec. 31, 2020			236,000,000
Share-based compensation, net				1	(1)
Net income (loss)		(191)			(190)		(1)
Other comprehensive income		1				1
Balance at Mar. 31, 2021		4,653	$ 2	4,520	185	(3)	(51)
Balance (shares) at Mar. 31, 2021			236,000,000
Balance at Dec. 31, 2020		4,843	$ 2	4,519	376	(4)	(50)
Balance (shares) at Dec. 31, 2020			236,000,000
Net income (loss)		(305)
Other comprehensive income		1
Balance at Jun. 30, 2021		4,545	$ 2	4,525	70	(3)	(49)
Balance (shares) at Jun. 30, 2021			236,000,000
Balance at Mar. 31, 2021		4,653	$ 2	4,520	185	(3)	(51)
Balance (shares) at Mar. 31, 2021			236,000,000
Share-based compensation, net		6		5	1
Net income (loss)		(114)			(116)		2
Other comprehensive income		0
Balance at Jun. 30, 2021		4,545	$ 2	4,525	70	$ (3)	(49)
Balance (shares) at Jun. 30, 2021			236,000,000
Balance at Dec. 31, 2021		$ 4,403	$ 2	4,533	(83)		(49)
Balance (shares) at Dec. 31, 2021		236,483,990	236,000,000
Share-based compensation, net		$ 1		1
Net income (loss)		(56)			(57)		1
Dividends and dividend equivalents	[1]	(2)			(2)
Repurchase of common stock		(61)		(61)
Repurchases of common stock (Shares)			3
Balance at Mar. 31, 2022		4,285	$ 2	4,473	(142)		(48)
Balance (shares) at Mar. 31, 2022			233,000,000
Balance at Dec. 31, 2021		$ 4,403	$ 2	4,533	(83)		(49)
Balance (shares) at Dec. 31, 2021		236,483,990	236,000,000
Net income (loss)		$ 98
Other comprehensive income		0
Balance at Jun. 30, 2022		$ 4,281	$ 2	4,321	6		(48)
Balance (shares) at Jun. 30, 2022		224,840,982	225,000,000
Balance at Mar. 31, 2022		$ 4,285	$ 2	4,473	(142)		(48)
Balance (shares) at Mar. 31, 2022			233,000,000
Share-based compensation, net		5		5
Net income (loss)		154			150		4
Other comprehensive income		0
Dividends and dividend equivalents	[1]	(2)			(2)
Distributions to noncontrolling interests		(4)					(4)
Repurchase of common stock		(157)		(157)
Repurchases of common stock (Shares)			(8)
Balance at Jun. 30, 2022		$ 4,281	$ 2	$ 4,321	$ 6		$ (48)
Balance (shares) at Jun. 30, 2022		224,840,982	225,000,000
[1] Dividends declared per common share were $ 0.01 for each of the three months ended March 31, 20 22 and June 30, 2022.

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended
	Jun. 30, 2022	Mar. 31, 2022
Statement of Stockholders' Equity [Abstract]
Dividends declared per common share	$ 0.01	$ 0.01

Organization and Recent Events

Organization and Recent Events	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Organization and Recent Events	Note 1 : Organization and Recent Events Organization Park Hotels & Resorts Inc. (“we,” “us,” “our” or the “Company” and, exclusive of any subsidiaries, "Park Parent") is a Delaware corporation that owns a portfolio of premium-branded hotels and resorts primarily located in prime city center and resort locations. On January 3, 2017, Hilton Worldwide Holdings Inc. (“Hilton”) completed the spin-off of a portfolio of hotels and resorts that established Park Hotels & Resorts Inc. as an independent, publicly traded company. On May 5, 2019, the Company, PK Domestic Property LLC, an indirect subsidiary of the Company (“PK Domestic”), and PK Domestic Sub LLC, a wholly-owned subsidiary of PK Domestic (“Merger Sub”) entered into a definitive Agreement and Plan of Merger (the “Merger Agreement”) with Chesapeake Lodging Trust (“Chesapeake”). On September 18, 2019, pursuant to the terms and subject to the conditions set forth in the Merger Agreement, Chesapeake merged with and into Merger Sub (the “Merger”) and each of Chesapeake’s common shares of beneficial interest, $ 0.01 par value per share, was converted into $ 11.00 in cash and 0.628 of a share of our common stock. No fractional shares of our common stock were issued in the Merger. The value of any fractional interests to which a Chesapeake shareholder would otherwise have been entitled was paid in cash. We are a real estate investment trust (“REIT”) for United States (“U.S.”) federal income tax purposes. We have been organized and operated, and we expect to continue to be organized and operate, in a manner to qualify as a REIT. To qualify as a REIT, we must satisfy requirements related to, among other things, the real estate qualification of sources of our income, the real estate composition and values of our assets, the amounts we distribute to our stockholders annually and the diversity of ownership of our stock. From the date of our spin-off from Hilton, Park Intermediate Holdings LLC (our “Operating Company”), directly or indirectly, has held all our assets and has conducted all of our operations. Park Parent owned 100 % of the interests in our Operating Company until December 31, 2021 when the business undertook an internal reorganization transitioning our structure to a traditional umbrella partnership REIT structure ("UPREIT"). Effective January 1, 2022, Park Parent became the managing member of our Operating Company and PK Domestic REIT Inc., a wholly owned direct subsidiary of Park Parent, became a member in our Operating Company. We may, in the future, issue interests in (or from) our Operating Company in connection with acquiring hotels, financings, issuance of equity compensation or other purposes. COVID-19 Update The novel strain of coronavirus and the disease it causes (“COVID-19”) have continued to affect the hospitality industry and our business. Beginning in March 2020, we experienced a significant decline in occupancy and Revenue per Available Room (“RevPAR”) associated with COVID-19 throughout our portfolio, which resulted in a decline in our operating cash flow. The increase in vaccination rates across the country and the easing or removal of government restrictions, quarantining and “social distancing” mandate s resulted in increased travel and hospitality spending beginning in the second quarter of 2021. During the second quarter of 2022, we continued to witness robust leisure demand and an acceleration in group and business transient demand and have now reopened all of our previously suspended hotels following the reopening of Parc 55 San Francisco – a Hilton Hotel on May 19, 2022. However, the potential for an economic slowdown or a recession during the second half of 2022 may disrupt the positive momentum across our portfolio and our industry.

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	Note 2: Basis of Presentation and Summary of Significant Accounting Policies Basis of Presentation Principles of Consolidation The unaudited condensed consolidated financial statements reflect our financial position, results of operations and cash flows, in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”). We have condensed or omitted certain information and footnote disclosures normally included in financial statements presented in accordance with U.S. GAAP. In our opinion, the accompanying unaudited condensed consolidated financial statements reflect all adjustments, including normal recurring items, considered necessary for a fair presentation of the interim periods. All significant intercompany transactions and balances within the financial statements have been eliminated. These financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto for the year ended December 31, 2021 included in our Annual Report on Form 10-K, filed with the Securities and Exchange Commission (“SEC”) on February 18, 2022. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Interim results are not necessarily indicative of full year performance. Reclassifications Certain line items on the condensed consolidated balance sheets as of December 31, 2021 have been reclassified to conform to the current period presentation. Summary of Significant Accounting Policies Our Annual Report on Form 10-K for the year ended December 31, 2021, filed with the SEC on February 18, 2022, contains a discussion of the significant accounting policies. There have been no significant changes to our significant accounting policies since December 31, 2021.

Dispositions and Assets Held fo

Dispositions and Assets Held for Sale	6 Months Ended
	Jun. 30, 2022
Business Combinations [Abstract]
Dispositions and Assets Held for Sale	Note 3 : Dispositions and Assets Held for Sale Dispositions During the three months ended June 30, 2022, we sold the three consolidated hotels listed in the table below and received total gross proceeds of approximately $ 102 million. We recognized a loss of approx imately $ 1 million, net o f selling costs, which is included in (loss) gain on sales of assets, net in our condensed consolidated statements of comprehensive income (loss). Hotel Location Month Sold Hampton Inn & Suites Memphis – Shady Grove Memphis, Tennessee April 2022 Hilton Chicago/Oak Brook Suites Chicago, Illinois May 2022 Homewood Suites by Hilton Seattle Convention Center Pike Street Seattle, Washington June 2022 Additionally, in June 2022, we sold our ownership interests in the joint ventures that own and operate the Hilton San Diego Bayfront for gross proceeds of $ 157 million. Our gross proceeds were reduced by $ 55 million for our share of the mortgage debt in the joint venture. We recognized a gain of approximately $ 92 million, net of selling costs, which is included in other gain (loss), net in our condensed consolidated statements of comprehensive income (loss). During the three months ended June 30, 2021, we sold the three consolidated hotels listed in the table below and received total gross proceeds of approximately $ 173 million. We recognized a gain of $ 6 million, net of selling costs, which is included in (loss) gain on sales of assets, net in our condensed consolidated statements of comprehensive income (loss). Hotel Location Month Sold W New Orleans – French Quarter New Orleans, Louisiana April 2021 Hotel Indigo San Diego Gaslamp Quarter (1) San Diego, California June 2021 Courtyard Washington Capitol Hill Navy Yard (1) Washington, D.C. June 2021 (1) Sold as a portfolio in the same transaction. Assets Held for Sale In June 2022, we entered into a definitive agreement to sell the Hilton Garden Inn Chicago/Oakbrook Terrace. The hotel was sold in July 2022 for gross proceeds of approximately $ 9 million, which was paid in cash at closing and is subject to customary pro rations and adjustments. Assets held for sale related to the Hilton Garden Inn Chicago/Oakbrook Terrace were as follows as of June 30, 2022: (in millions) Assets: Property and equipment, net $ 7 Total Assets Held for Sale $ 7

Property and Equipment

Property and Equipment	6 Months Ended
	Jun. 30, 2022
Property, Plant and Equipment [Abstract]
Property and Equipment	Note 4 : Property and Equipment Property and equipment were: June 30, 2022 (1) December 31, 2021 (in millions) Land $ 3,329 $ 3,333 Buildings and leasehold improvements 6,526 6,606 Furniture and equipment 1,000 1,005 Construction-in-progress 91 82 10,946 11,026 Accumulated depreciation and amortization ( 2,620 ) ( 2,515 ) $ 8,326 $ 8,511 (1) Exclu des $ 7 million of property and equipment, net, classified as held for sale as of June 30, 2022. Depreciation of property and equipment was $ 68 million and $ 71 million during the three months ended June 30, 2022 and 2021, respectively, and $ 136 million and $ 144 million during the six months ended June 30, 2022 and 2021, respectively. For the three and six months ended June 30, 2021, we recognized $ 5 million of impairment losses related to one of our hotels classified as held for sale as of June 30, 2021.

Consolidated Variable Interest

Consolidated Variable Interest Entities ("VIEs") and Investments in Affiliates	6 Months Ended
	Jun. 30, 2022
Consolidated Variable Interest Entities And Investments In Affiliates [Abstract]
Consolidated Variable Interest Entities ("VIEs") and Investments in Affiliates	Note 5 : Consolidated Variable Interest Entities ("VIEs") and Investments in Affiliates Consolidated VIEs We consolidate VIEs that own three hotels in the U.S. We are the primary beneficiary of these VIEs as we have the power to direct the activities that most significantly affect their economic performance. Additionally, we have the obligation to absorb their losses and the right to receive benefits that could be significant to them. The assets of our VIEs are only available to settle the obligations of these entities. Our condensed consolidated balance sheets include the following assets and liabilities of these entities: June 30, 2022 December 31, 2021 (in millions) Property and equipment, net $ 207 $ 209 Cash and cash equivalents 23 18 Restricted cash 2 6 Accounts receivable, net 4 3 Prepaid expenses 1 1 Debt 206 208 Accounts payable and accrued expenses 9 7 Due to hotel manager 1 1 Other liabilities 3 3 Unconsolidated Entities Investments in affiliates were: Ownership % June 30, 2022 December 31, 2021 (in millions) Hilton San Diego Bayfront (1) 25 % $ — $ 11 All others (5 hotels) 20 % - 50 % 4 4 $ 4 $ 15 (1) In June 2022, we sold our ownership interests in the joint ventures that own and operate the Hilton San Diego Bayfront . Refer to Note 3: "Dispositions and Assets Held for Sale " for additional information. The affiliates in which we own investments accounted for under the equity method had total debt of approximately $ 722 million and $ 943 million as of June 30, 2022 and December 31, 2021, resp ectively. Substantially all the debt is secured solely by the affiliates’ assets or is guaranteed by other partners without recourse to us.

Debt

Debt	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Debt	Note 6 : Debt Debt balances and associated interest rates as of June 30, 2022 were: Principal balance as of Interest Rate Maturity Date June 30, 2022 December 31, 2021 (in millions) SF Mortgage Loan (1) 4.11 % November 2023 $ 725 $ 725 HHV Mortgage Loan (1) 4.20 % November 2026 1,275 1,275 Other mortgage loans Average rate of 4.34 % 2022 to 2027 (2) 499 503 Revolver (3) L + 3.00 % December 2023 — — 2019 Term Facility (3) L + 2.65 % August 2024 78 78 2025 Senior Secured Notes (4) 7.50 % June 2025 650 650 2028 Senior Secured Notes (4) 5.88 % October 2028 725 725 2029 Senior Secured Notes (4) 4.88 % May 2029 750 750 4,702 4,706 Add: unamortized premium 4 4 Less: unamortized deferred financing costs and ( 35 ) ( 38 ) $ 4,671 $ 4,672 (1) In October 2016, we entered into a $ 725 million CMBS loan secured by the Hilton San Francisco Union Square and the Parc 55 Hotel San Francisco (“SF Mortgage Loan”) and a $ 1.275 billion CMBS loan secured by the Hilton Hawaiian Village Waikiki Beach Resort (“HHV Mortgage Loan”). (2) Assumes the exercise of all extensions that are exercisable solely at our option. The mortgage loan for Hilton Denver City Center matures in 2042 but is callable by the lender with six months of notice. As of June 30, 2022, Park had not received notice from the lender. Additionally, in April 2022, our joint venture refinanced the mortgage loan secured by the DoubleTree Hotel Ontario Airport, which extended the maturity date to May 2027. (3) In August 2019, the Company, our Operating Company and PK Domestic entered into a term loan facility (the “2019 Term Facility”). In May 2020, we amended our credit and term loan facilities to add a LIBOR floor of 25 basis points . As of June 30, 2022 , we had $ 901 million of available capacity under our revolving credit facility ("Revolver"). (4) In May and September 2020, our Operating Company, PK Domestic and PK Finance issued an aggregate of $ 650 million of senior secured notes due 2025 (“2025 Senior Secured Notes”) and an aggregate of $ 725 million of senior secured notes due 2028 (“2028 Senior Secured Notes”), respectively. Additionally, in May 2021, our Operating Company, PK Domestic and PK Finance issued an aggregate of $ 750 million of senior secured notes due 2029 (“2029 Senior Secured Notes”). We are required to deposit with lenders certain cash reserves for restricted uses. As of June 30, 2022 and December 31, 2021, our condensed consolidated balance sheets included $ 91 million and $ 60 million of restricted cash, respectively, related to our mortgage loans. We expect $ 83 million currently held by the lenders of the HHV Mortgage Loan and the mortgage loan secured by the Hilton Denver City Center will be released to us during the third quarter upon submission of the certificates reflecting compliance with financial ratios of these loans. Debt Maturities The contractual maturities of our debt, assuming the exercise of all extensions that are exercisable solely at our option, as of June 30, 2022 were: Year (in millions) 2022 $ 60 2023 833 2024 85 2025 657 2026 1,563 Thereafter (1) 1,504 $ 4,702 (1) Assumes the exercise of all extensions that are exercisable solely at our option.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 7 : Fair Value Measurements We did not elect the fair value measurement option for our financial assets or liabilities. The fair values of our other financial instruments not included in the table below are estimated to be equal to their carrying amounts. The fair value of our debt and the hierarchy level we used to estimate fair values are shown below: June 30, 2022 December 31, 2021 Hierarchy Carrying Fair Value Carrying Fair Value (in millions) Liabilities: SF Mortgage Loan 3 $ 725 $ 705 $ 725 $ 733 HHV Mortgage Loan 3 1,275 1,207 1,275 1,282 Other mortgage loans 3 499 477 503 491 2019 Term Facility 3 78 73 78 76 2025 Senior Secured Notes 1 650 651 650 688 2028 Senior Secured Notes 1 725 662 725 761 2029 Senior Secured Notes 1 750 645 750 771

Share-Based Compensation

Share-Based Compensation	6 Months Ended
	Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]
Share-Based Compensation	Note 8 : Share-Based Compensation We issue equity-based awards to our employees pursuant to the 2017 Omnibus Incentive Plan (“2017 Employee Plan”) and our non-employee directors pursuant to the 2017 Stock Plan for Non-Employee Directors (as amended and restated from time to time, the “2017 Director Plan”). The 2017 Employee Plan provides that a maximum of 8,000,000 shares of our common stock may be issued, and as of June 30, 2022, 2,313,502 shares of comm on stock remain available for future issuance. The 2017 Director Plan provides that a maximum of 950,000 shares of our common stock may be issued, and as of June 30, 2022, 418,645 shares of common stock remain available for future issuance. For the three months ended June 30, 2022 and 2021, we recognized $ 5 million and $ 4 million of share-based compensation expense, respectively, and $ 9 million and $ 10 million, respectively, for the six months ended June 30, 2022 and 2021. As of June 30, 2022, unrecognized compensation expense was $ 25 million, which is expected to be recognized over a weighted-average period of 1.7 years. The total fair value of shares vested (calculated as the number of shares multiplied by the vesting date share price) during the six months ended June 30, 2022 and 2021 was $ 7 million and $ 17 million, respectively. Restricted Stock Awards Restricted Stock Awards (“RSAs”) generally vest in annual installments between one and three years from each grant date. The following table provides a summary of RSAs for the six months ended June 30, 2022: Number of Shares Weighted-Average Unvested at January 1, 2022 789,322 $ 22.52 Granted 439,946 18.60 Vested ( 353,975 ) 23.24 Forfeited ( 23,519 ) 20.86 Unvested at June 30, 2022 851,774 $ 20.24 Performance Stock Units Performance Stock Units (“PSUs”) generally vest at the end of a three-year performance period and are subject to the achievement of a market condition based on a measure of our total shareholder return relative to the total shareholder return of the companies that comprise the FTSE Nareit Lodging Resorts Index (that have a market capitalization in excess of $ 1 billion as of the first day of the applicable performance period). The number of PSUs that may become vested ranges from zero to 200 % of the number of PSUs granted to an employee, based on the level of achievement of the foregoing performance measure. Additionally, in November 2020, we granted special awards with vesting of these awards subject to the achievement of eight increasing levels of our average closing sales price per share, from $ 11.00 to $ 25.00 , over a consecutive 20 trading day period (“Share Price Target”). One-eighth of PSUs will vest at each date a Share Price Target is achieved and any PSUs remaining after a four-year performance period will be forfeited. As of June 30, 2022 , six of the eight Share Price Targets were achieved and thus 75 % of the awards granted were vested. The following table provides a summary of PSUs for the six months ended June 30, 2022: Number of Shares Weighted-Average Unvested at January 1, 2022 972,074 $ 22.59 Granted 392,843 21.93 Forfeited ( 159,542 ) 35.18 Unvested at June 30, 2022 1,205,375 $ 20.70 The grant date fair values of the awards that are subject to the achievement of market conditions based on total shareholder return were determined using a Monte Carlo simulation valuation model with the following assumptions: Expected volatility 57.5 % Dividend yield (1) — Risk-free rate 1.7 % Expected term 3 years (1) Dividends are assumed to be reinvested in shares of our common stock and dividends will not be paid unless shares vest.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Earnings Per Share	Note 9 : Earnings Per Share The following table presents the calculation of basic and diluted earnings per share (“EPS”): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 (in millions, except per share amounts) Numerator: Net income (loss) attributable to stockholders, net $ 150 $ ( 116 ) $ 93 $ ( 306 ) Denominator: Weighted average shares outstanding – basic 228 236 232 235 Unvested restricted shares — — — 1 Weighted average shares outstanding – diluted 228 236 232 236 Earnings (loss) per share – Basic (1) $ 0.66 $ ( 0.49 ) $ 0.40 $ ( 1.30 ) Earnings (loss) per share – Diluted (1) $ 0.66 $ ( 0.49 ) $ 0.40 $ ( 1.30 ) (1) Per share amounts are calculated based on unrounded numbers and are calculated independently for each period presented. Certain of our outstanding equity awards were excluded from the above calculation of EPS for the three and six months ended June 30, 2022 and 2021 because their effect would have been anti-dilutive.

Business Segment Information

Business Segment Information	6 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
Business Segment Information	Note 10 : Business Segment Information As of June 30, 2022 , we have two operating segments, our consolidated hotels and unconsolidated hotels. Our unconsolidated hotels operating segment does not meet the definition of a reportable segment, thus our consolidated hotels is our only reportable segment. We evaluate our consolidated hotels primarily based on hotel adjusted earnings (loss) before interest expense, taxes and depreciation and amortization (“EBITDA”). Hotel Adjusted EBITDA is calculated as EBITDA from hotel operations, adjusted to exclude: • Gains or losses on sales of assets for both consolidated and unconsolidated investments; • Costs associated with hotel acquisitions or dispositions expensed during the period; • Severance expense; • Share-based compensation expense; • Impairment losses and casualty gains or losses; and • Other items that we believe are not representative of our current or future operating performance. The following table presents revenues for our consolidated hotels reconciled to our consolidated amounts and net income (loss) to Hotel Adjusted EBITDA: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 (in millions) Revenues: Total consolidated hotel revenues $ 676 $ 311 $ 1,139 $ 468 Other revenues 19 12 35 20 Total revenues $ 695 $ 323 $ 1,174 $ 488 Net income (loss) $ 154 $ ( 114 ) $ 98 $ ( 305 ) Other revenues ( 19 ) ( 12 ) ( 35 ) ( 20 ) Depreciation and amortization expense 68 71 137 145 Corporate general and administrative expense 16 16 32 34 Casualty and impairment loss, net 1 5 1 5 Other operating expenses 18 13 34 20 Loss (gain) on sales of assets, net 1 ( 6 ) 1 ( 6 ) Interest income ( 1 ) — ( 1 ) — Interest expense 62 66 124 129 Equity in (earnings) losses from investments in affiliates ( 5 ) 2 ( 5 ) 6 Income tax expense 1 — 1 1 Other (gain) loss, net ( 92 ) 2 ( 97 ) 2 Other items 4 ( 1 ) 7 ( 5 ) Hotel Adjusted EBITDA $ 208 $ 42 $ 297 $ 6 The following table presents total assets for our consolidated hotels, reconciled to total assets: June 30, 2022 December 31, 2021 (in millions) Consolidated hotels $ 9,693 $ 9,724 All other 8 19 Total assets $ 9,701 $ 9,743

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 11 : Commitments and Contingencies As of June 30, 2022, we had outstanding commitments under third-party contracts of approximately $ 125 million for capital expenditures at our properties, of which $ 62 million relates to the expansion project at the Bonnet Creek complex. The Bonnet Creek expansion project includes additional meeting space for the Signia by Hilton Orlando Bonnet Creek and the Waldorf Astoria Orlando. Our contracts contain clauses that allow us to cancel all or some portion of the work. If cancellation of a contract occurred, our commitment would be any costs incurred up to the cancellation date, in addition to any costs associated with the discharge of the contract. We are involved in litigation arising from the normal course of business, some of which includes claims for substantial sums, and may make certain indemnifications or guarantees to select buyers of our hotels as part of a sale process. We are also involved in claims and litigation that is not in the ordinary course of business in connection with the spin-off from Hilton. The spin-off agreements provide that Hilton will indemnify us from certain of these claims as well as require us to indemnify Hilton for other claims. In addition, losses related to certain contingent liabilities could be apportioned to us under the spin-off agreements. In connection with our obligation to indemnify Hilton under the spin-off agreements, we have reserved approximately $ 8 million as of June 30, 2022 related to litigation with respect to an audit by the Australian Tax Office (“ATO”) of Hilton related to the sale of the Hilton Sydney in June 2015. This amount could change as the litigation of the ATO’s claim progresses.

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation The unaudited condensed consolidated financial statements reflect our financial position, results of operations and cash flows, in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”). We have condensed or omitted certain information and footnote disclosures normally included in financial statements presented in accordance with U.S. GAAP. In our opinion, the accompanying unaudited condensed consolidated financial statements reflect all adjustments, including normal recurring items, considered necessary for a fair presentation of the interim periods. All significant intercompany transactions and balances within the financial statements have been eliminated. These financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto for the year ended December 31, 2021 included in our Annual Report on Form 10-K, filed with the Securities and Exchange Commission (“SEC”) on February 18, 2022.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Interim results are not necessarily indicative of full year performance.
Reclassifications	Reclassifications Certain line items on the condensed consolidated balance sheets as of December 31, 2021 have been reclassified to conform to the current period presentation.

Dispositions and Assets Held _2

Dispositions and Assets Held for Sale (Tables)	6 Months Ended
	Jun. 30, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Summary of Assets and Liabilities Held for Sale and Dispositions	Hotel Location Month Sold Hampton Inn & Suites Memphis – Shady Grove Memphis, Tennessee April 2022 Hilton Chicago/Oak Brook Suites Chicago, Illinois May 2022 Homewood Suites by Hilton Seattle Convention Center Pike Street Seattle, Washington June 2022 Hotel Location Month Sold W New Orleans – French Quarter New Orleans, Louisiana April 2021 Hotel Indigo San Diego Gaslamp Quarter (1) San Diego, California June 2021 Courtyard Washington Capitol Hill Navy Yard (1) Washington, D.C. June 2021 (1) Sold as a portfolio in the same transaction.
Hilton Garden Inn Chicago/Oakbrook Terrace
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Summary of Assets Held for Sale	Assets held for sale related to the Hilton Garden Inn Chicago/Oakbrook Terrace were as follows as of June 30, 2022: (in millions) Assets: Property and equipment, net $ 7 Total Assets Held for Sale $ 7

Property and Equipment (Tables)

Property and Equipment (Tables)	6 Months Ended
	Jun. 30, 2022
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and equipment were: June 30, 2022 (1) December 31, 2021 (in millions) Land $ 3,329 $ 3,333 Buildings and leasehold improvements 6,526 6,606 Furniture and equipment 1,000 1,005 Construction-in-progress 91 82 10,946 11,026 Accumulated depreciation and amortization ( 2,620 ) ( 2,515 ) $ 8,326 $ 8,511 (1) Exclu des $ 7 million of property and equipment, net, classified as held for sale as of June 30, 2022.

Consolidated Variable Interes_2

Consolidated Variable Interest Entities ("VIEs") and Investments in Affiliates (Tables)	6 Months Ended
	Jun. 30, 2022
Consolidated Variable Interest Entities And Investments In Affiliates [Abstract]
Schedule of Assets and Liabilities Included in Consolidated Balance Sheets	Our condensed consolidated balance sheets include the following assets and liabilities of these entities: June 30, 2022 December 31, 2021 (in millions) Property and equipment, net $ 207 $ 209 Cash and cash equivalents 23 18 Restricted cash 2 6 Accounts receivable, net 4 3 Prepaid expenses 1 1 Debt 206 208 Accounts payable and accrued expenses 9 7 Due to hotel manager 1 1 Other liabilities 3 3
Schedule of Investment in Affiliates	Investments in affiliates were: Ownership % June 30, 2022 December 31, 2021 (in millions) Hilton San Diego Bayfront (1) 25 % $ — $ 11 All others (5 hotels) 20 % - 50 % 4 4 $ 4 $ 15 (1) In June 2022, we sold our ownership interests in the joint ventures that own and operate the Hilton San Diego Bayfront . Refer to Note 3: "Dispositions and Assets Held for Sale " for additional information.

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Schedule of Debt	Debt balances and associated interest rates as of June 30, 2022 were: Principal balance as of Interest Rate Maturity Date June 30, 2022 December 31, 2021 (in millions) SF Mortgage Loan (1) 4.11 % November 2023 $ 725 $ 725 HHV Mortgage Loan (1) 4.20 % November 2026 1,275 1,275 Other mortgage loans Average rate of 4.34 % 2022 to 2027 (2) 499 503 Revolver (3) L + 3.00 % December 2023 — — 2019 Term Facility (3) L + 2.65 % August 2024 78 78 2025 Senior Secured Notes (4) 7.50 % June 2025 650 650 2028 Senior Secured Notes (4) 5.88 % October 2028 725 725 2029 Senior Secured Notes (4) 4.88 % May 2029 750 750 4,702 4,706 Add: unamortized premium 4 4 Less: unamortized deferred financing costs and ( 35 ) ( 38 ) $ 4,671 $ 4,672 (1) In October 2016, we entered into a $ 725 million CMBS loan secured by the Hilton San Francisco Union Square and the Parc 55 Hotel San Francisco (“SF Mortgage Loan”) and a $ 1.275 billion CMBS loan secured by the Hilton Hawaiian Village Waikiki Beach Resort (“HHV Mortgage Loan”). (2) Assumes the exercise of all extensions that are exercisable solely at our option. The mortgage loan for Hilton Denver City Center matures in 2042 but is callable by the lender with six months of notice. As of June 30, 2022, Park had not received notice from the lender. Additionally, in April 2022, our joint venture refinanced the mortgage loan secured by the DoubleTree Hotel Ontario Airport, which extended the maturity date to May 2027. (3) In August 2019, the Company, our Operating Company and PK Domestic entered into a term loan facility (the “2019 Term Facility”). In May 2020, we amended our credit and term loan facilities to add a LIBOR floor of 25 basis points . As of June 30, 2022 , we had $ 901 million of available capacity under our revolving credit facility ("Revolver"). (4) In May and September 2020, our Operating Company, PK Domestic and PK Finance issued an aggregate of $ 650 million of senior secured notes due 2025 (“2025 Senior Secured Notes”) and an aggregate of $ 725 million of senior secured notes due 2028 (“2028 Senior Secured Notes”), respectively. Additionally, in May 2021, our Operating Company, PK Domestic and PK Finance issued an aggregate of $ 750 million of senior secured notes due 2029 (“2029 Senior Secured Notes”).
Debt Maturities, Assuming the Exercise of all Extensions that are Exercisable Solely at our Option	The contractual maturities of our debt, assuming the exercise of all extensions that are exercisable solely at our option, as of June 30, 2022 were: Year (in millions) 2022 $ 60 2023 833 2024 85 2025 657 2026 1,563 Thereafter (1) 1,504 $ 4,702 (1) Assumes the exercise of all extensions that are exercisable solely at our option.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value of Debt and Hierarchy Level Used to Estimate Fair Values	The fair value of our debt and the hierarchy level we used to estimate fair values are shown below: June 30, 2022 December 31, 2021 Hierarchy Carrying Fair Value Carrying Fair Value (in millions) Liabilities: SF Mortgage Loan 3 $ 725 $ 705 $ 725 $ 733 HHV Mortgage Loan 3 1,275 1,207 1,275 1,282 Other mortgage loans 3 499 477 503 491 2019 Term Facility 3 78 73 78 76 2025 Senior Secured Notes 1 650 651 650 688 2028 Senior Secured Notes 1 725 662 725 761 2029 Senior Secured Notes 1 750 645 750 771

Share-Based Compensation (Table

Share-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]
Schedule of Restricted Stock Awards ("RSAs")	Restricted Stock Awards (“RSAs”) generally vest in annual installments between one and three years from each grant date. The following table provides a summary of RSAs for the six months ended June 30, 2022: Number of Shares Weighted-Average Unvested at January 1, 2022 789,322 $ 22.52 Granted 439,946 18.60 Vested ( 353,975 ) 23.24 Forfeited ( 23,519 ) 20.86 Unvested at June 30, 2022 851,774 $ 20.24
Schedule of Performance Stock Units ("PSUs")	The following table provides a summary of PSUs for the six months ended June 30, 2022: Number of Shares Weighted-Average Unvested at January 1, 2022 972,074 $ 22.59 Granted 392,843 21.93 Forfeited ( 159,542 ) 35.18 Unvested at June 30, 2022 1,205,375 $ 20.70
Schedule of Grant Date Fair Values of Awards Using Monte Carlo Simulation Valuation Model	The grant date fair values of the awards that are subject to the achievement of market conditions based on total shareholder return were determined using a Monte Carlo simulation valuation model with the following assumptions: Expected volatility 57.5 % Dividend yield (1) — Risk-free rate 1.7 % Expected term 3 years (1) Dividends are assumed to be reinvested in shares of our common stock and dividends will not be paid unless shares vest.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Basic and Diluted Earnings Per Share	The following table presents the calculation of basic and diluted earnings per share (“EPS”): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 (in millions, except per share amounts) Numerator: Net income (loss) attributable to stockholders, net $ 150 $ ( 116 ) $ 93 $ ( 306 ) Denominator: Weighted average shares outstanding – basic 228 236 232 235 Unvested restricted shares — — — 1 Weighted average shares outstanding – diluted 228 236 232 236 Earnings (loss) per share – Basic (1) $ 0.66 $ ( 0.49 ) $ 0.40 $ ( 1.30 ) Earnings (loss) per share – Diluted (1) $ 0.66 $ ( 0.49 ) $ 0.40 $ ( 1.30 ) (1) Per share amounts are calculated based on unrounded numbers and are calculated independently for each period presented.

Business Segment Information (T

Business Segment Information (Tables)	6 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
Reconciliation of Revenues from Consolidated Hotels to Condensed Combined Consolidated Amounts and Net Loss to Hotel Adjusted EBITDA	The following table presents revenues for our consolidated hotels reconciled to our consolidated amounts and net income (loss) to Hotel Adjusted EBITDA: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 (in millions) Revenues: Total consolidated hotel revenues $ 676 $ 311 $ 1,139 $ 468 Other revenues 19 12 35 20 Total revenues $ 695 $ 323 $ 1,174 $ 488 Net income (loss) $ 154 $ ( 114 ) $ 98 $ ( 305 ) Other revenues ( 19 ) ( 12 ) ( 35 ) ( 20 ) Depreciation and amortization expense 68 71 137 145 Corporate general and administrative expense 16 16 32 34 Casualty and impairment loss, net 1 5 1 5 Other operating expenses 18 13 34 20 Loss (gain) on sales of assets, net 1 ( 6 ) 1 ( 6 ) Interest income ( 1 ) — ( 1 ) — Interest expense 62 66 124 129 Equity in (earnings) losses from investments in affiliates ( 5 ) 2 ( 5 ) 6 Income tax expense 1 — 1 1 Other (gain) loss, net ( 92 ) 2 ( 97 ) 2 Other items 4 ( 1 ) 7 ( 5 ) Hotel Adjusted EBITDA $ 208 $ 42 $ 297 $ 6
Schedule of Total Assets by Consolidated Hotels, Reconciled to Total Assets	The following table presents total assets for our consolidated hotels, reconciled to total assets: June 30, 2022 December 31, 2021 (in millions) Consolidated hotels $ 9,693 $ 9,724 All other 8 19 Total assets $ 9,701 $ 9,743

Organization and Recent Events

Organization and Recent Events - Additional Information (Detail) - $ / shares	May 05, 2019	Jan. 03, 2017
Park Intermediate Holdings LLC [Member]
Organization [Line Items]
Percentage of ownership interest		100%
Chesapeake Lodging Trust [Member]
Organization [Line Items]
Business acquisition,par value per common share	$ 0.01
Business acquisition, cash consideration transferred, per share	$ 11
Business acquisition, consideration transferred number of shares per share	0.628
Fractional shares of common stock to be issued in merger agreement	0

Dispositions and Assets Held _3

Dispositions and Assets Held for Sale - Additional Information (Detail) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022 USD ($) Hotel	Jun. 30, 2021 USD ($) Hotel	Jun. 30, 2022 USD ($) Hotel	Jul. 31, 2022 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of hotel portfolio properties sold | Hotel	3	3	3
Gross proceeds on sale of hotel portfolio properties	$ 102	$ 173
Net gain (loss) on selling cost of hotel portfolio properties	$ (1)	$ 6	$ 92
Hilton San Diego Bayfront [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gross proceeds on sale of hotel portfolio properties			157
Disposal group, interest in the debt in joint venture			$ 55
Hilton Garden Inn Chicago/Oak Brook [Member] | Subsequent Event [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gross sale price of disposal				$ 9

Dispositions and Assets Held _4

Dispositions and Assets Held for Sale - Summary of Hotel Portfolio Properties Sold (Detail)		3 Months Ended
		Jun. 30, 2022	Jun. 30, 2021
W New Orleans - French Quarter [Member]
Business Acquisition [Line Items]
Location			New Orleans, Louisiana
Month Sold			2021-04
Hotel Indigo San Diego Gaslamp Quarter [Member]
Business Acquisition [Line Items]
Location	[1]		San Diego, California
Month Sold	[1]		2021-06
Courtyard Washington Capitol Hill Navy Yard [Member]
Business Acquisition [Line Items]
Location	[1]		Washington, D.C.
Month Sold	[1]		2021-06
Hampton Inn & Suites Memphis-Shady Grove [Member]
Business Acquisition [Line Items]
Location		Memphis, Tennessee
Month Sold		2022-04
Hilton Chicago/Oak Brook Suites
Business Acquisition [Line Items]
Location		Chicago, Illinois
Month Sold		2022-05
Homewood Suites By Hilton Seattle Convention Center Pike Street Member
Business Acquisition [Line Items]
Location		Seattle, Washington
Month Sold		2022-06
[1] Sold as a portfolio in the same transaction.

Dispositions and Assets Held _5

Dispositions and Assets Held for Sale - Summary of Assets Held for Sale (Detail) $ in Millions	Jun. 30, 2022 USD ($)
Property and equipment, net	$ 7
Hilton Garden Inn Chicago/Oakbrook Terrace
Property and equipment, net	7
Total Assets Held for Sale	$ 7

Property and Equipment - Schedu

Property and Equipment - Schedule of Property and Equipment (Detail) - USD ($) $ in Millions	Jun. 30, 2022	[1]	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Land	$ 3,329		$ 3,333
Buildings and leasehold improvements	6,526		6,606
Furniture and equipment	1,000		1,005
Construction-in-progress	91		82
Property and equipment, gross	10,946		11,026
Accumulated depreciation and amortization	(2,620)		(2,515)
Property and equipment, net	$ 8,326		$ 8,511
[1] Exclu des $ 7 million of property and equipment, net, classified as held for sale as of June 30, 2022.

Property and Equipment - Additi

Property and Equipment - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Property, Plant and Equipment [Abstract]
Depreciation	$ 68	$ 71	$ 136	$ 144
Gain (loss) on sale of assets and asset impairment charges		$ (5)		$ (5)
Property and equipment, net	$ 7		$ 7

Consolidated Variable Interes_3

Consolidated Variable Interest Entities ("VIEs") and Investments in Affiliates - Additional Information (Detail) $ in Millions	Jun. 30, 2022 USD ($) Entity	Dec. 31, 2021 USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of consolidated VIEs | Entity	3
Debt of unconsolidated joint ventures | $	$ 722	$ 943

Consolidated Variable Interes_4

Consolidated Variable Interest Entities ("VIEs") and Investments in Affiliates - Schedule of Assets and Liabilities Included in Consolidated Balance Sheets (Detail) - USD ($) $ in Millions	Jun. 30, 2022		Dec. 31, 2021
Variable Interest Entity [Line Items]
Property and equipment, net	$ 8,326	[1]	$ 8,511
Cash and cash equivalents	758		688
Restricted cash	109		75
Accounts receivable, net	149		96
Prepaid expenses	39		35
Other assets	38		69
Debt	4,671		4,672
Accounts payable and accrued expenses	211		156
Due to hotel managers	124		111
Other liabilities	167		174
Consolidated VIEs [Member]
Variable Interest Entity [Line Items]
Property and equipment, net	207		209
Cash and cash equivalents	23		18
Restricted cash	2		6
Accounts receivable, net	4		3
Prepaid expenses	1		1
Debt	206		208
Accounts payable and accrued expenses	9		7
Due to hotel managers	1		1
Other liabilities	$ 3		$ 3
[1] Exclu des $ 7 million of property and equipment, net, classified as held for sale as of June 30, 2022.

Consolidated Variable Interes_5

Consolidated Variable Interest Entities ("VIEs") and Investments in Affiliates - Schedule of Investments in Affiliates (Detail) - USD ($) $ in Millions		Jun. 30, 2022	Dec. 31, 2021
Schedule Of Equity Method Investments [Line Items]
Investments in affiliates		$ 4	$ 15
Hilton San Diego Bayfront [Member]
Schedule Of Equity Method Investments [Line Items]
Ownership Percentage	[1]	25%
Investments in affiliates	[1]	$ 0	11
All others (5 hotels) [Member]
Schedule Of Equity Method Investments [Line Items]
Investments in affiliates		$ 4	$ 4
All others (5 hotels) [Member] | Minimum [Member]
Schedule Of Equity Method Investments [Line Items]
Ownership Percentage		20%
All others (5 hotels) [Member] | Maximum [Member]
Schedule Of Equity Method Investments [Line Items]
Ownership Percentage		50%
[1] In June 2022, we sold our ownership interests in the joint ventures that own and operate the Hilton San Diego Bayfront . Refer to Note 3: "Dispositions and Assets Held for Sale " for additional information.

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Detail) - USD ($) $ in Millions		6 Months Ended
		Jun. 30, 2022		Sep. 30, 2022	Dec. 31, 2021		Oct. 31, 2016
Debt Instrument [Line Items]
Debt and financing lease obligations, gross		$ 4,702			$ 4,706
Add: unamortized premium		4			4
Less: unamortized deferred financing costs and discount		(35)			(38)
Debt		4,671			4,672
SF Mortgage Loan [Member]
Debt Instrument [Line Items]
Debt, gross		$ 725	[1]		725	[1]	$ 725
Debt instrument, interest rate, stated percentage	[1]	4.11%
Maturity Date	[1]	2023-11
HHV Mortgage Loan [Member]
Debt Instrument [Line Items]
Debt, gross		$ 1,275	[1]	$ 83	1,275	[1]	$ 1,275
Debt instrument, interest rate, stated percentage	[1]	4.20%
Maturity Date	[1]	2026-11
Mortgage Loans [Member]
Debt Instrument [Line Items]
Debt, gross		$ 499			503
Debt, weighted average interest rate		4.34%
Maturity Date, start year	[2]	2022
Maturity Date, end year	[2]	2027
2025 Senior Secured Notes [Member]
Debt Instrument [Line Items]
Senior Secured Notes	[3]	$ 650			650
Debt instrument, interest rate, stated percentage	[3]	7.50%
Maturity Date	[3]	2025-06
2028 Senior Secured Notes [Member]
Debt Instrument [Line Items]
Senior Secured Notes	[3]	$ 725			725
Debt instrument, interest rate, stated percentage	[3]	5.88%
Maturity Date	[3]	2028-10
2029 Senior Secured Notes [Member]
Debt Instrument [Line Items]
Senior Secured Notes	[3]	$ 750			750
Debt instrument, interest rate, stated percentage	[3]	4.88%
Maturity Date	[3]	2029-05
2019 Term Facility [Member]
Debt Instrument [Line Items]
Debt, gross	[4]	$ 78			78
Maturity Date	[4]	2024-08
2019 Term Facility [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate	[4]	2.65%
Revolver [Member]
Debt Instrument [Line Items]
Debt, gross	[4]	$ 0			$ 0
Maturity Date	[4]	2023-12
Revolver [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate	[4]	3%
[1] In October 2016, we entered into a $ 725 million CMBS loan secured by the Hilton San Francisco Union Square and the Parc 55 Hotel San Francisco (“SF Mortgage Loan”) and a $ 1.275 billion CMBS loan secured by the Hilton Hawaiian Village Waikiki Beach Resort (“HHV Mortgage Loan”). Assumes the exercise of all extensions that are exercisable solely at our option. The mortgage loan for Hilton Denver City Center matures in 2042 but is callable by the lender with six months of notice. As of June 30, 2022, Park had not received notice from the lender. Additionally, in April 2022, our joint venture refinanced the mortgage loan secured by the DoubleTree Hotel Ontario Airport, which extended the maturity date to May 2027. In May and September 2020, our Operating Company, PK Domestic and PK Finance issued an aggregate of $ 650 million of senior secured notes due 2025 (“2025 Senior Secured Notes”) and an aggregate of $ 725 million of senior secured notes due 2028 (“2028 Senior Secured Notes”), respectively. Additionally, in May 2021, our Operating Company, PK Domestic and PK Finance issued an aggregate of $ 750 million of senior secured notes due 2029 (“2029 Senior Secured Notes”). In August 2019, the Company, our Operating Company and PK Domestic entered into a term loan facility (the “2019 Term Facility”). In May 2020, we amended our credit and term loan facilities to add a LIBOR floor of 25 basis points . As of June 30, 2022 , we had $ 901 million of available capacity under our revolving credit facility ("Revolver").

Debt - Schedule of Debt (Parent

Debt - Schedule of Debt (Parenthetical) (Detail) - USD ($) $ in Millions		1 Months Ended	6 Months Ended
		May 31, 2020	Jun. 30, 2022		Jun. 30, 2021	Sep. 30, 2022	Dec. 31, 2021		May 31, 2021	Sep. 30, 2020	Oct. 31, 2016
Debt Instrument [Line Items]
Repayment of loan secured			$ 34		$ 14
Proceeds from issuance of loan secured			30		$ 14
2019 Term Facility [Member]
Debt Instrument [Line Items]
Debt, gross	[1]		78				$ 78
Revolver [Member]
Debt Instrument [Line Items]
Debt, gross	[1]		0				0
Debt instrument description of interest rate		LIBOR floor of 25 basis points
Available credit capacity			901
SF Mortgage Loan [Member]
Debt Instrument [Line Items]
Debt, gross			$ 725	[2]			725	[2]			$ 725
Debt instrument, interest rate, stated percentage	[2]		4.11%
HHV Mortgage Loan [Member]
Debt Instrument [Line Items]
Debt, gross			$ 1,275	[2]		$ 83	$ 1,275	[2]			$ 1,275
Debt instrument, interest rate, stated percentage	[2]		4.20%
Hilton Denver City Center Mortgage Loan [Member]
Debt Instrument [Line Items]
Voluntary prepayment maturity date, end year			2042
PK Domestic and PK Finance Co-Issuer Inc [Member] | 2025 Senior Secured Notes [Member]
Debt Instrument [Line Items]
Senior Secured Notes		$ 650
PK Domestic and PK Finance Co-Issuer Inc [Member] | 2028 Senior Secured Notes [Member]
Debt Instrument [Line Items]
Senior Secured Notes										$ 725
PK Domestic and PK Finance Co-Issuer Inc [Member] | 2029 Senior Secured Notes [Member]
Debt Instrument [Line Items]
Senior Secured Notes									$ 750
[1] In August 2019, the Company, our Operating Company and PK Domestic entered into a term loan facility (the “2019 Term Facility”). In May 2020, we amended our credit and term loan facilities to add a LIBOR floor of 25 basis points . As of June 30, 2022 , we had $ 901 million of available capacity under our revolving credit facility ("Revolver"). In October 2016, we entered into a $ 725 million CMBS loan secured by the Hilton San Francisco Union Square and the Parc 55 Hotel San Francisco (“SF Mortgage Loan”) and a $ 1.275 billion CMBS loan secured by the Hilton Hawaiian Village Waikiki Beach Resort (“HHV Mortgage Loan”).

Debt - Additional Information (

Debt - Additional Information (Detail) - USD ($) $ in Millions		6 Months Ended
		Jun. 30, 2022		Jun. 30, 2021	Sep. 30, 2022	Dec. 31, 2021		Oct. 31, 2016
Debt Instrument [Line Items]
Restricted cash		$ 109				$ 75
Non recourse debt		4,702
Repayments of credit facilities		0		$ 761
Repayments of term loan		34		$ 14
Revolver [Member]
Debt Instrument [Line Items]
Long-Term Debt, Gross	[1]	0				0
2019 Term Facility [Member]
Debt Instrument [Line Items]
Long-Term Debt, Gross	[1]	78				78
CMBS and mortgage loans [Member]
Debt Instrument [Line Items]
Restricted cash		$ 91				60
2029 Senior Secured Notes [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	[2]	4.88%
HHV Mortgage Loan [Member]
Debt Instrument [Line Items]
Long-Term Debt, Gross		$ 1,275	[3]		$ 83	$ 1,275	[3]	$ 1,275
Debt instrument, interest rate, stated percentage	[3]	4.20%
[1] In August 2019, the Company, our Operating Company and PK Domestic entered into a term loan facility (the “2019 Term Facility”). In May 2020, we amended our credit and term loan facilities to add a LIBOR floor of 25 basis points . As of June 30, 2022 , we had $ 901 million of available capacity under our revolving credit facility ("Revolver"). In May and September 2020, our Operating Company, PK Domestic and PK Finance issued an aggregate of $ 650 million of senior secured notes due 2025 (“2025 Senior Secured Notes”) and an aggregate of $ 725 million of senior secured notes due 2028 (“2028 Senior Secured Notes”), respectively. Additionally, in May 2021, our Operating Company, PK Domestic and PK Finance issued an aggregate of $ 750 million of senior secured notes due 2029 (“2029 Senior Secured Notes”). In October 2016, we entered into a $ 725 million CMBS loan secured by the Hilton San Francisco Union Square and the Parc 55 Hotel San Francisco (“SF Mortgage Loan”) and a $ 1.275 billion CMBS loan secured by the Hilton Hawaiian Village Waikiki Beach Resort (“HHV Mortgage Loan”).

Debt - Debt Maturities, Assumin

Debt - Debt Maturities, Assuming the Exercise of all Extensions that are Exercisable Solely at our Option (Detail) $ in Millions	Jun. 30, 2022 USD ($)
Debt Disclosure [Abstract]
2022	$ 60
2023	833
2024	85
2025	657
2026	1,563
Thereafter	1,504	[1]
Debt and capital lease obligations, gross	$ 4,702
[1] Assumes the exercise of all extensions that are exercisable solely at our option.

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value of Debt and Hierarchy Level Used to Estimate Fair Values (Detail) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Carrying amount [Member] | SF Mortgage Loan [Member] | Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loan	$ 725	$ 725
Carrying amount [Member] | HHV Mortgage Loan [Member] | Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loan	1,275	1,275
Carrying amount [Member] | Mortgage Loans [Member] | Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loan	499	503
Carrying amount [Member] | 2019 Term Facility [Member] | Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loan	78	78
Carrying amount [Member] | 2025 Senior Secured Notes [Member] | Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loan	650	650
Carrying amount [Member] | 2028 Senior Secured Notes [Member] | Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loan	725	725
Carrying amount [Member] | 2029 Senior Secured Notes [Member] | Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loan	750	750
Fair Value [Member] | SF Mortgage Loan [Member] | Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loan	705	733
Fair Value [Member] | HHV Mortgage Loan [Member] | Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loan	1,207	1,282
Fair Value [Member] | Mortgage Loans [Member] | Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loan	477	491
Fair Value [Member] | 2019 Term Facility [Member] | Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loan	73	76
Fair Value [Member] | 2025 Senior Secured Notes [Member] | Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loan	651	688
Fair Value [Member] | 2028 Senior Secured Notes [Member] | Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loan	662	761
Fair Value [Member] | 2029 Senior Secured Notes [Member] | Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loan	$ 645	$ 771

Share-Based Compensation - Addi

Share-Based Compensation - Additional Information (Detail) $ / shares in Units, $ in Millions	1 Months Ended	3 Months Ended		6 Months Ended
	Nov. 30, 2020 d $ / shares	Jun. 30, 2022 USD ($) shares	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($) Target shares	Jun. 30, 2021 USD ($)	Dec. 31, 2021 shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock, authorized shares		6,000,000,000		6,000,000,000		6,000,000,000
Compensation expense | $		$ 5	$ 4	$ 9	$ 10
Unrecognized compensation costs related to unvested awards | $		$ 25		$ 25
Unrecognized compensation costs related to unvested awards, weighted-average period				1 year 8 months 12 days
Total fair value of shares vested | $				$ 7	$ 17
2017 Employee Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares of common stock reserved for future issuance		2,313,502		2,313,502
2017 Employee Plan [Member] | Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock, authorized shares		8,000,000		8,000,000
2017 Director Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares of common stock reserved for future issuance		418,645		418,645
2017 Director Plan [Member] | Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock, authorized shares		950,000		950,000
Performance Stock Units ("PSUs") [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award performance period				3 years
Market capitalization | $		$ 1,000		$ 1,000
Vesting rights				zero to 200
Performance Stock Units ("PSUs") [Member] | Special Awards [Member] | Eight Share Price Targets [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting rights	One-eighth
Consecutive trading day period | d	20
PSUs remaining performance period forfeited	4 years
Share price target achieved | Target				6
Total share price targets | Target				8
Percentage of awards granted vested				75%
Performance Stock Units ("PSUs") [Member] | Maximum [Member] | Special Awards [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting rights				200
Average closing sales price per share, | $ / shares	$ 25
Performance Stock Units ("PSUs") [Member] | Minimum [Member] | Special Awards [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Average closing sales price per share, | $ / shares	$ 11

Share-Based Compensation - Sche

Share-Based Compensation - Schedule of Restricted Stock Awards ("RSAs") (Detail) - Restricted stock awards (RSAs) [Member]	6 Months Ended
	Jun. 30, 2022 $ / shares shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Shares, Beginning balance | shares	789,322
Number of Shares, Granted | shares	439,946
Number of Shares, Vested | shares	(353,975)
Number of Shares, Forfeited | shares	(23,519)
Number of Shares, Ending balance | shares	851,774
Weighted Average Grant Date Fair Value, Beginning balance | $ / shares	$ 22.52
Weighted Average Grant Date Fair Value, Granted | $ / shares	18.60
Weighted Average Grant Date Fair Value, Vested | $ / shares	23.24
Weighted Average Grant Date Fair Value, Forfeited | $ / shares	20.86
Weighted Average Grant Date Fair Value, Ending balance | $ / shares	$ 20.24

Share-Based Compensation - Sc_2

Share-Based Compensation - Schedule of Performance Stock Units ("PSUs") (Detail) - Performance Stock Units ("PSUs") [Member]	6 Months Ended
	Jun. 30, 2022 $ / shares shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Shares, Beginning balance | shares	972,074
Number of Shares, Granted | shares	392,843
Number of Shares, Forfeited | shares	(159,542)
Number of Shares, Ending balance | shares	1,205,375
Weighted Average Grant Date Fair Value, Beginning balance | $ / shares	$ 22.59
Weighted Average Grant Date Fair Value, Granted | $ / shares	21.93
Weighted Average Grant Date Fair Value, Forfeited | $ / shares	35.18
Weighted Average Grant Date Fair Value, Ending balance | $ / shares	$ 20.70

Share-Based Compensation - Sc_3

Share-Based Compensation - Schedule of Grant Date Fair Values of Awards Using Monte Carlo Simulation Valuation Model (Detail)	6 Months Ended
	Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]
Expected volatility	57.50%
Dividend yield	0%	[1]
Risk-free rate	1.70%
Expected term	3 years
[1] Dividends are assumed to be reinvested in shares of our common stock and dividends will not be paid unless shares vest.

Earnings Per Share (Detail)

Earnings Per Share (Detail) - USD ($) $ / shares in Units, $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Numerator:
Net income (loss) attributable to stockholders, net of earnings allocated to participating securities		$ 150	$ (116)	$ 93	$ (306)
Denominator:
Weighted average shares outstanding – basic		228,000,000	236,000,000	232,000,000	235,000,000
Unvested restricted shares		0	0	0	1
Weighted average shares outstanding – diluted		228,000,000	236,000,000	232,000,000	236,000,000
Earnings (loss) per share - Basic	[1]	$ 0.66	$ (0.49)	$ 0.40	$ (1.30)
Earnings (loss) per share - Diluted	[1]	$ 0.66	$ (0.49)	$ 0.40	$ (1.30)
[1] Per share amounts are calculated based on unrounded numbers and are calculated independently for each period presented.

Business Segment Information -

Business Segment Information - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2022 Segment
Segment Reporting [Abstract]
Number of operating business segments	2
Number of reportable segment	1

Business Segment Information _2

Business Segment Information - Reconciliation of Revenues from Consolidated Hotels to Condensed Combined Consolidated Amounts and Net Loss to Hotel Adjusted EBITDA (Detail) - USD ($) $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021
Reconciliation of Revenue and Adjusted EBITDA from Segments to Consolidated Amounts [Line Items]
Total revenues	$ 695		$ 323		$ 1,174	$ 488
Net income (loss)	154	$ (56)	(114)	$ (191)	98	(305)
Depreciation and amortization expense	68		71		137	145
Corporate general and administrative expense	16		16		32	34
Casualty and impairment loss, net	1		5		1	5
Other operating expenses	18		13		34	20
Loss (gain) on sales of assets, net	1		(6)		1	(6)
Interest income	(1)		0		(1)	0
Interest expense	62		66		124	129
Equity in (earnings) losses from investments in affiliates	(5)		2		(5)	6
Income tax expense	1		0		1	1
Other (gain) loss, net	(92)		2		(97)	2
Other items	4		(1)		7	(5)
Hotel Adjusted EBITDA	208		42		297	6
Total consolidated hotel revenue [Member]
Reconciliation of Revenue and Adjusted EBITDA from Segments to Consolidated Amounts [Line Items]
Total revenues	676		311		1,139	468
Other [Member]
Reconciliation of Revenue and Adjusted EBITDA from Segments to Consolidated Amounts [Line Items]
Total revenues	$ 19		$ 12		$ 35	$ 20

Business Segment Information _3

Business Segment Information - Schedule of Total Assets by Consolidated Hotels, Reconciled to Total Assets (Detail) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Segment Reporting Asset Reconciling Item [Line Items]
Total assets	$ 9,701	$ 9,743
Consolidated Hotels [Member]
Segment Reporting Asset Reconciling Item [Line Items]
Total assets	9,693	9,724
All Other [Member]
Segment Reporting Asset Reconciling Item [Line Items]
Total assets	$ 8	$ 19

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) $ in Millions	Jun. 30, 2022 USD ($)
Other Commitments [Line Items]
Purchase commitment, remaining minimum amount committed	$ 125
Reserve for ongoing claims	8
Bonnet Creek complex [Member]
Other Commitments [Line Items]
Purchase commitment, remaining minimum amount committed	$ 62