Park Hotels & Resorts (PK) 10-K 23 Feb 23 2022 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Feb. 17, 2023	Jun. 30, 2022
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Trading Symbol	PK
Entity Registrant Name	Park Hotels & Resorts Inc.
Entity Central Index Key	0001617406
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		222,071,254
Entity Public Float			$ 3,016
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 Annual 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
ICFR Auditor Attestation Flag	true
Documents Incorporated by Reference	Documents incorporated by reference: The information called for by Part III will be incorporated by reference from the registrant’s definitive Proxy Statement for the 2023 Annual Meeting of Stockholders to be filed pursuant to Regulation 14A.
Auditor Name	Ernst & Young LLP
Auditor Location	Tysons, Virginia
Auditor Firm ID	42

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
ASSETS
Property and equipment, net	$ 8,301	$ 8,511
Investments in affiliates	1	15
Intangibles, net	43	44
Cash and cash equivalents	906	688
Restricted cash	33	75
Accounts receivable, net of allowance for doubtful accounts of $2 and $2	129	96
Prepaid expenses	58	35
Other assets	46	69
Operating lease right-of-use assets	214	210
TOTAL ASSETS (variable interest entities - $237 and $237)	9,731	9,743
Liabilities
Debt	4,617	4,672
Accounts payable and accrued expenses	220	156
Due to hotel manager	141	111
Other liabilities	228	174
Operating lease liabilities	234	227
Total liabilities (variable interest entities - $219 and $219)	5,440	5,340
Commitments and contingencies - refer to Note 15
Stockholders' Equity
Common stock, par value $0.01 per share, 6,000,000,000 shares authorized, 224,573,858 shares issued and 224,061,745 shares outstanding as of December 31, 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)	16	(83)
Total stockholders' equity	4,339	4,452
Noncontrolling interests	(48)	(49)
Total equity	4,291	4,403
TOTAL LIABILITIES AND EQUITY	$ 9,731	$ 9,743

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Allowance for doubtful accounts receivable	$ 2	$ 2
Total assets	9,731	9,743
Total liabilities	$ 5,440	$ 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	224,573,858	236,888,804
Common stock, outstanding shares	224,061,745	236,483,990
Consolidated VIEs [Member]
Total assets	$ 237	$ 237
Total liabilities	$ 219	$ 219

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) shares in Millions, $ in Millions		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenues
Revenues		$ 2,501	$ 1,362	$ 852
Operating expenses
Other property-level		223	191	258
Management fees		115	59	30
Casualty and impairment loss, net		6	9	696
Depreciation and amortization		269	281	298
Corporate general and administrative		63	62	63
Acquisition costs		0	0	10
Other		72	49	36
Total expenses		2,218	1,536	2,116
Gain (loss) on sales of assets, net		13	(5)	62
Operating income (loss)		296	(179)	(1,202)
Interest income		13	1	2
Interest expense		(247)	(258)	(213)
Equity in earnings (losses) from investments in affiliates		15	(7)	(22)
Other gain (loss), net		96	(7)	(15)
Income (loss) before income taxes		173	(450)	(1,450)
Income tax (expense) benefit		0	(2)	6
Net income (loss)		173	(452)	(1,444)
Net (income) loss attributable to noncontrolling interests		(11)	(7)	4
Net income (loss) attributable to stockholders		162	(459)	(1,440)
Other comprehensive income (loss) net of tax expense:
Currency translation adjustment, net of tax expense of $0		0	0	4
Change in fair value of interest rate swap, net of tax expense of $0		0	2	(5)
Loss from interest rate swap reclassified into earnings		0	2	0
Total other comprehensive income (loss)		0	4	(1)
Comprehensive income (loss)		173	(448)	(1,445)
Comprehensive (income) loss attributable to noncontrolling interests		(11)	(7)	4
Comprehensive income (loss) attributable to stockholders		$ 162	$ (455)	$ (1,441)
(Loss) Earnings per share:
Earnings (loss) per share - Basic	[1]	$ 0.71	$ (1.95)	$ (6.11)
Earnings (loss) per share - Diluted	[1]	$ 0.71	$ (1.95)	$ (6.11)
Weighted average shares outstanding - Basic		228	236	236
Weighted average shares outstanding - Diluted		228	236	236
Rooms [Member]
Revenues
Revenues		$ 1,559	$ 870	$ 526
Operating expenses
Expenses		408	254	193
Food and Beverage [Member]
Revenues
Revenues		606	251	189
Operating expenses
Expenses		449	208	173
Ancillary Hotel [Member]
Revenues
Revenues		261	190	108
Other [Member]
Revenues
Revenues		75	51	29
Other Departmental and Support [Member]
Operating expenses
Expenses		$ 613	$ 423	$ 359
[1] Per share amounts are calculated based on unrounded numbers and are calculated independently for each period presented.

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Statement [Abstract]
Foreign currency translation adjustment, tax	$ 0	$ 0	$ 0
Change in fair value of interest rate swap, tax	$ 0	$ 0	$ 0

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Operating Activities:
Net income (loss)	$ 173	$ (452)	$ (1,444)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	269	281	298
(Gain) loss on sales of assets, net	(13)	5	(62)
Casualty and impairment loss, net	6	9	696
Equity in (earnings) losses from investments in affiliates	(15)	7	22
Other (gain) loss, net	(90)	7	15
Share-based compensation expense	17	19	20
Amortization of deferred financing costs	10	12	9
Distributions from unconsolidated affiliates	7	0	5
Deferred Income Taxes	(2)	(1)	(30)
Changes in operating assets and liabilities:
Accounts receivable, net	(33)	(70)	152
Prepaid expenses	(23)	4	44
Other assets	32	(12)	(22)
Accounts payable and accrued expenses	44	0	(51)
Due to hotel managers	30	23	(71)
Other liabilities	(4)	27	(21)
Other	1	4	2
Net cash provided by (used in) operating activities	409	(137)	(438)
Investing Activities:
Capital expenditures for property and equipment	(168)	(54)	(86)
Proceeds from asset dispositions, net	143	454	207
Proceeds from the sale of investments in affiliates, net	101	0	1
Insurance proceeds for property damage claims	0	4	1
Distributions from unconsolidated affiliates	11	0	0
Contributions to unconsolidated affiliates	0	(6)	(4)
Purchase of investment security, net	0	(4)	0
Net cash provided by investing activities	87	394	119
Financing Activities:
Proceeds from issuance of Senior Notes	0	750	1,376
Borrowings from credit facilities	50	0	1,000
Repayments of credit facilities	(78)	(1,193)	(1,099)
Proceeds from issuance of mortgage debt	30	14	0
Repayments of mortgage debt	(64)	(20)	(6)
Debt issuance costs	(11)	(15)	(39)
Dividends paid	(7)	0	(241)
Distributions to noncontrolling interests, net	(10)	(6)	(1)
Tax withholdings on share-based compensation	(3)	(5)	(10)
Repurchase of common stock	(227)	0	(66)
Net cash (used in) provided by financing activities	(320)	(475)	914
Net increase (decrease) in cash and cash equivalents and restricted cash	176	(218)	595
Cash and cash equivalents and restricted cash, beginning of period	763	981	386
Cash and cash equivalents and restricted cash, end of period	$ 939	$ 763	$ 981

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) $ in Millions		Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings (Accumulated Deficit) [Member]	Accumulated Other Comprehensive (Loss) Income [Member]	Non-Controlling Interests [Member]
Balance at Dec. 31, 2019		$ 6,451	$ 2	$ 4,575	$ 1,922	$ (3)	$ (45)
Balance (shares) at Dec. 31, 2019			239,000,000
Share-based compensation, net		10		10
Share-based compensation, net (Shares)			1,000,000
Net income (loss)		(1,444)			(1,440)		(4)
Other comprehensive income (loss)		(1)				(1)
Dividends and dividend equivalents	[1]	(106)			(106)
Total purchase price		(66)		(66)
Repurchases of common stock (Shares)			(4,000,000)
Distributions to noncontrolling interests		(1)					(1)
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		14		14
Net income (loss)		(452)			(459)		7
Other comprehensive income (loss)		4				4
Distributions to noncontrolling interests		(6)					(6)
Balance at Dec. 31, 2021		$ 4,403	$ 2	4,533	(83)	0	(49)
Balance (shares) at Dec. 31, 2021		236,483,990	236,000,000
Share-based compensation, net		$ 15		15
Net income (loss)		173			162		11
Other comprehensive income (loss)		0
Dividends and dividend equivalents	[1]	(63)			(63)
Total purchase price		(227)		(227)
Repurchases of common stock (Shares)			(12,000,000)
Distributions to noncontrolling interests		(10)					(10)
Balance at Dec. 31, 2022		$ 4,291	$ 2	$ 4,321	$ 16	$ 0	$ (48)
Balance (shares) at Dec. 31, 2022		224,061,745	224,000,000
[1] Dividends declared per common share were $ 0.45 and $ 0.28 for the years ended December 31, 2020 and December 31, 2022, respectively.

Consolidated Statements of Eq_2

Consolidated Statements of Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2020
Statement of Stockholders' Equity [Abstract]
Dividends declared per common share	$ 0.28	$ 0.45

Organization and Recent Events

Organization and Recent Events	12 Months Ended
	Dec. 31, 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” or "Parent") 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. 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 of 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 direct subsidiary of Park Parent, became a member of 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. The novel strain of coronavirus and the disease it causes (“COVID-19”) presented ongoing challenges in 2022; however, we have witnessed widespread improvements across our portfolio throughout the year. The increase in vaccination rates and easing or removal of COVID-19 restrictions have increased travel and hospitality spending, improving occupancy, Average Daily Rate (“ADR”) and Revenue per Available Room (“RevPAR”) at our hotels, resulting in the reopening of all our previously suspended hotels as of May 2022. We have relied on the performance of our hotels and active asset management to mitigate the effects of inflation and continued to experience improvements in leisure, group and business transient demand, including improvement in our urban hotels during 2022.

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 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 consolidated financial statements include the accounts of the Company, our wholly owned subsidiaries and entities in which we have a controlling financial interest, including variable interest entities (“VIEs”) where we are the primary beneficiary. The 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”). All significant intercompany transactions and balances within these consolidated financial statements have been eliminated. 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. 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 Property and Equipment Property and equipment are recorded at cost, and interest applicable to major construction or development projects is capitalized. Costs of improvements that extend the economic life or improve service potential are also capitalized. Capitalized costs are depreciated over their estimated useful lives. Costs for normal repairs and maintenance are expensed as incurred. Depreciation is recorded using the straight-line method over the assets’ estimated useful lives, which are generally as follows: buildings and improvements ( 8 to 40 years ); furniture and equipment ( 3 to 8 years ); and computer equipment and acquired software ( 3 years). Leasehold improvements are depreciated over the shorter of the estimated useful life, based on the estimates above, or the lease term. We evaluate the carrying value of our property and equipment if there are indicators of potential impairment. We perform an analysis to determine the recoverability of the asset’s carrying value by comparing the expected undiscounted future cash flows to the net book value of the asset. If it is determined that the expected undiscounted future cash flows are less than the net book value of the asset, the excess of the net book value over the estimated fair value is recorded in our consolidated statements of comprehensive income (loss) within impairment losses. Fair value is generally estimated using valuation techniques that consider the discounted cash flows of the asset using discount and capitalization rates deemed reasonable for the type of asset, as well as prevailing market conditions, appraisals, recent similar transactions in the market and, if appropriate and available, current estimated net sales proceeds from pending offers. If sufficient information exists to reasonably estimate the fair value of a conditional asset retirement obligation, including environmental remediation liabilities, we recognize the fair value of the obligation when the obligation is incurred, which is generally upon acquisition, construction or development and/or through the normal operation of the asset. Assets Held for Sale We classify a property as held for sale when we commit to a plan to sell the asset, the sale of the asset is probable within one year, and it is unlikely that action to complete the sale will change or that the sale will be withdrawn. When we determine that classification of an asset as held for sale is appropriate, we cease recording depreciation for the asset and value the property at the lower of depreciated cost or fair value, less costs to dispose. Further, the related assets and liabilities of the held for sale property will be classified as assets held for sale in our consolidated balance sheets. Any gains on sales of properties are recognized at the time of sale or deferred and recognized in net income (loss) in subsequent periods as any relevant conditions requiring deferral are satisfied. Investments in Affiliates The consolidated financial statements include entities in which we have a controlling financial interest, including VIEs where we are the primary beneficiary. The determination of a controlling financial interest is based upon the terms of the governing agreements of the respective entities, including the evaluation of rights held by other interests. If the entity is considered to be a VIE, we determine whether we are the primary beneficiary, and then consolidate those VIEs for which we have determined we are the primary beneficiary. If the entity in which we hold an interest does not meet the definition of a VIE, we evaluate whether we have a controlling financial interest through our voting interests in the entity. We consolidate entities when we own more than 50 percent of the voting shares of a company or otherwise have a controlling financial interest. References in these financial statements to net income (loss) attributable to stockholders do not include non-controlling interests, which represent the outside ownership interests of our consolidated, non-wholly owned entities and are reported separately. We hold investments in affiliates that primarily own or lease hotels. Investments in affiliates over which we exercise significant influence, but lack a controlling financial interest, are accounted for using the equity method. We account for investments using the equity method when we have the ability to exercise significant influence over the entity, typically through a more than minimal investment. Our proportionate share of earnings (losses) from our equity method investments is presented as equity in earnings (losses) from investments in affiliates in our consolidated statements of comprehensive income (loss). Distributions from investments in affiliates are presented as an operating activity in our consolidated statements of cash flows when such distributions are a return on investment. Distributions from investments in affiliates are recorded as an investing activity in our consolidated statements of cash flows when such distributions are a return of investment. We assess the recoverability of our equity method investments if there are indicators of potential impairment. If an identified event or change in circumstances requires an evaluation to determine if an investment may have an other-than-temporary impairment, we assess the fair value of the investment based on accepted valuation methodologies, which include discounted cash flows, estimates of sales proceeds and external appraisals. If an investment’s fair value is below its carrying value and the decline is considered to be other-than-temporary, we will recognize an impairment loss in equity in earnings (losses) from investments in affiliates in our consolidated statements of comprehensive income (loss). Non-controlling Interests We present the portion of any equity that we do not own in entities that we have a controlling financial interest (and thus consolidate) as non-controlling interests and classify those interests as a component of total equity, separate from total stockholders’ equity, on our consolidated balance sheets. For consolidated joint ventures with pro rata distribution allocations, net income or loss is allocated between the joint venture partners based on their respective stated ownership percentages. In addition, we include net income (loss) attributable to the noncontrolling interest in net income (loss) in our consolidated statements of comprehensive income (loss). Goodwill Goodwill represents the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. We do not amortize goodwill, but rather evaluate goodwill for potential impairment on an annual basis or at other times during the year if events or circumstances indicate that the carrying amount may not be recoverable. We typically evaluate the carrying value of our goodwill annually. However, due to the effects of COVID-19, including (i) the significant decline in our common stock price, (ii) negative operating cash flows in the first quarter of 2020, (iii) the suspension of operations at certain of our hotels, and (iv) significant declines in occupancy and demand, we assessed goodwill during the first quarter of 2020. We had two reporting units, consolidated and unconsolidated hotels, to which goodwill had been allocated. Certain of the entities that are included in our consolidated financial statements were consolidated subsidiaries of our Parent at the time of its predecessor’s merger with an affiliate of The Blackstone Group L.P. (“Blackstone Merger”). Our Parent allocated goodwill to us based on the relative fair value of our properties compared to that of Parent’s ownership segment as of the date of the Blackstone Merger. We reviewed the carrying value of goodwill by comparing the carrying value of a reporting unit to its fair value, as determined by us. The valuation was based on internal projections of expected future cash flows and operating plans, as well as market conditions relative to the operations of our reporting unit. We determined that the carrying value of our consolidated and unconsolidated hotel reporting units exceeded their respective estimated fair value and fully impaired our remaining goodwill balance, recognizing an impairment loss of $ 607 million in the first quarter of 2020 included within casualty and impairment loss, net in our consolidated statements of comprehensive income (loss). Intangible Assets Intangible assets with finite useful lives primarily include an air rights contract. The air rights contract value is based on the present value of the difference between the contractual rental amounts and the market rental rates for similar contracts, measured over a period equal to the remaining non-cancellable term of the contract. Intangible assets are amortized using the straight-line method over the remaining term of the contract. We review all finite lived intangible assets for impairment when circumstances indicate that their carrying amounts may not be recoverable. If the carrying value of an asset group is not recoverable, we recognize an impairment loss for the excess of the carrying value over the fair value in our consolidated statements of comprehensive income (loss). Asset Acquisitions We consider an asset acquisition to occur when substantially all the fair value of an acquisition is concentrated in a single identifiable asset or a group of similar identifiable assets. In an acquisition of assets, we are not required to expense our acquisition-related costs, and goodwill is not assigned. We will account for the properties purchased as asset acquisitions by allocating the total cash consideration, including transaction costs, to the individual assets acquired and liabilities assumed, respectively, on a relative fair value basis. Business Combinations We consider a business combination to occur when we take control of a business by acquiring its net assets or equity interests. We record the assets acquired, liabilities assumed and non-controlling interests at fair value as of the acquisition date, including any contingent consideration. We evaluate factors, including market data for similar assets, expected future cash flows discounted at risk-adjusted rates and replacement cost for the assets to determine an appropriate fair value of the assets. Acquisition-related costs, such as due diligence, legal and accounting fees, are expensed in the period incurred and are not capitalized or applied in determining the fair value of the acquired assets. Cash and Cash Equivalents Cash and cash equivalents include all highly liquid investments with original maturities, when purchased, of three months or less. Restricted Cash Restricted cash includes cash balances established as lender reserves required by our debt agreements and reserves for capital expenditures in accordance with certain of our management agreements. Allowance for Doubtful Accounts An allowance for doubtful accounts is provided on accounts receivable when losses are probable based on historical collection activity and current business conditions. Leases We consider an arrangement to contain a lease if it conveys the right to control the use of an identified asset for a period of time in exchange for compensation. Right-of-use (“ROU”) assets represent our right to use an underlying asset for the lease term and lease liabilities represent the present value of our fixed payment obligations. Leases with a term of 12 months or less are not recorded on the balance sheet. We use our estimated incremental borrowing rate to determine the present value of our lease obligations. Our operating leases may require fixed payments, variable payments based on a percentage of revenue or income, or payments equal to the greater of a fixed or variable payment. Variable payments are excluded from the ROU assets and lease liabilities and are recognized in the period in which the obligation is incurred. Operating lease expense is recognized on a straight-line basis over the lease term. Our lease terms include renewal options that we are reasonably certain to exercise, and renewal options controlled by the lessor. Fair Value Measurements—Valuation Hierarchy Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants on the measurement date (an exit price). We use the three-level valuation hierarchy for classification of fair value measurements. The valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. Inputs refer broadly to the assumptions that market participants would use in pricing an asset or liability. Inputs may be observable or unobservable. Observable inputs are inputs that reflect the assumptions market participants would use in pricing the asset or liability developed based on market data obtained from independent sources. Unobservable inputs are inputs that reflect our own assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The three-level hierarchy of inputs is summarized below: • Level 1—Valuation is based upon quoted prices (unadjusted) for identical assets or liabilities in active markets. • Level 2—Valuation is based upon quoted prices for similar assets and liabilities in active markets, or other inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the instrument. • Level 3—Valuation is based upon other unobservable inputs that are significant to the fair value measurement. The classification of assets and liabilities within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement in its entirety at the end of each reporting period. Derivative Instruments We may use derivative instruments as part of our overall strategy to manage our exposure to market risks associated with fluctuations in interest rates. We will regularly monitor the financial stability and credit standing of the counterparties to our derivative instruments. Under the terms of certain loan agreements, we may be required to maintain derivative financial instruments to manage interest rates. We do not enter into derivative financial instruments for trading or speculative purposes. We record all derivatives at fair value. On the date the derivative contract is entered, we designate the derivative as one of the following: a hedge of a forecasted transaction or the variability of cash flows to be paid (“cash flow hedge”); a hedge of the fair value of a recognized asset or liability (“fair value hedge”); or an undesignated hedge instrument. Changes in the fair value of a derivative that is qualified, designated and highly effective as a cash flow hedge or net investment hedge are recorded in other comprehensive income (loss) in the consolidated statements of comprehensive income (loss) until they are reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. Changes in the fair value of a derivative that is qualified, designated and highly effective as a fair value hedge, along with the gain or loss on the hedged asset or liability that is attributable to the hedged risk, are recorded in current period earnings. Changes in the fair value of undesignated derivative instruments and the ineffective portion of designated derivative instruments are reported in current period earnings. Cash flows from designated derivative financial instruments are classified within the same category as the item being hedged in the consolidated statements of cash flows. Cash flows from undesignated derivative financial instruments are included as an investing activity in our consolidated statements of cash flows. If we determine that we qualify for and will designate a derivative as a hedging instrument, at the designation date we formally document all relationships between hedging activities, including the risk management objective and strategy for undertaking various hedge transactions. This process includes matching all derivatives that are designated as cash flow hedges to specific forecasted transactions and linking all derivatives designated as fair value hedges to specific assets and liabilities in our consolidated balance sheets. To the extent we have designated a derivative as a hedging instrument, each reporting period we assess the effectiveness of our designated hedges in offsetting the variability in the cash flows or fair values of the hedged assets or obligations using the Hypothetical Derivative Method. This method compares the cumulative change in fair value of each hedging instrument to the cumulative change in fair value of a hypothetical hedging instrument, which has terms that identically match the critical terms of the respective hedged transactions. Thus, the hypothetical hedging instrument is presumed to perfectly offset the hedged cash flows. Ineffectiveness results when the cumulative change in the fair value of the hedging instrument exceeds the cumulative change in the fair value of the hypothetical hedging instrument. We discontinue hedge accounting prospectively, when the derivative is not highly effective as a hedge, the underlying hedged transaction is no longer probable, or the hedging instrument expires, is sold, terminated or exercised. Revenue Recognition Our results of operations primarily consist of room rentals, food and beverage sales and other ancillary goods and services from hotel properties. Other revenues primarily relate to support services we provide to Hilton Grand Vacations (“HGV”), in addition to revenue from our laundry business prior to permanently suspending operations in 2020. Hotel operating revenues are disaggregated into room revenue, food and beverage revenue, ancillary hotel revenue and other revenue on the consolidated statements of comprehensive income (loss) to illustrate how economic factors affect the nature, amount and timing, and uncertainty of revenue and cash flows. Rooms revenue is recognized over time when rooms are occupied and food and beverage revenue is recognized at a point in time when goods and services have been delivered or rendered. Ancillary hotel revenue and other revenue is generally recognized at a point in time as goods and services are delivered or rendered. We assess if we are the principal or agent for certain ancillary services provided by third parties. If we are the principal, we recognize revenue based on the gross sales price. If we are the agent, we recognize revenue net of costs paid to service providers. Payment received for a future stay or event is recognized as an advance deposit, which is included in other liabilities on our consolidated balance sheet. Advance deposits are recognized as revenue when rooms are occupied or goods or services have been delivered or rendered to our customer. Our advance deposit balance as of December 31, 2022 and 2021 was $ 103 million and $ 87 million, respectively, and are generally recognized as revenue within a one-year period. Additionally, we collect sales, use, occupancy and similar taxes at our hotels, which we present on a net basis (excluded from revenues) in our consolidated statements of comprehensive income (loss). Share-based Compensation We recognize the cost of services received in share-based payment transactions with employees and non-employee directors as services are received and recognize a corresponding increase in additional paid-in capital for equity classified awards. We account for any forfeitures when they occur. The measurement objective for these equity awards is the estimated fair value at the grant date of the equity instruments that we will be obligated to issue when employees have rendered the requisite service and satisfied any other conditions necessary to earn the right to benefit from the instruments. The compensation expense for an award classified as an equity instrument is recognized ratably over the requisite service period. The requisite service period is the period during which an employee is required to provide service in exchange for an award. Income Taxes We are a REIT for 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. To the extent we continue to remain qualified as a REIT, we generally will not be subject to U.S. federal income tax on taxable income generated by our REIT activities that we distribute annually to our stockholders. Accordingly, no provision for U.S. federal income taxes has been included in our accompanying consolidated financial statements for the years ended December 31, 2022, 2021 and 2020 related to our REIT activities other than taxes related to our sale of built-in gain property (representing property held by us with an excess of fair value over tax basis on January 4, 2017). We were subject to U.S. federal income tax on taxable sales of built-in gain property during the five-year period following the date of our spin-off, which ended in January 2022. In addition, we are subject to non-U.S. income tax on foreign held REIT activities and certain sales of foreign investments. Further, our taxable REIT subsidiaries (“TRSs”) are generally subject to U.S. federal, state and local, and foreign income taxes (as applicable). We account for income taxes using the asset and liability method. The objectives of accounting for income taxes are to recognize the amount of taxes payable or refundable for the current year, to recognize the deferred tax assets and liabilities that relate to tax consequences in future years, which result from differences between the respective tax basis of assets and liabilities and their financial reporting amounts, and to recognize tax loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which the respective temporary differences or operating loss or tax credit carry forwards are expected to be recovered or settled. The realization of deferred tax assets and tax loss and tax credit carry forwards is contingent upon the generation of future taxable income and other restrictions that may exist under the tax laws of the jurisdiction in which a deferred tax asset exists. Valuation allowances are provided to reduce such deferred tax assets to amounts more likely than not to be ultimately realized. We use a prescribed recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken in a tax return. For all income tax positions, we first determine whether it is “more-likely-than-not” that a tax position will be sustained upon examination, including resolution of any related appeals or litigation processes, based on the technical merits of the position. If it is determined that a position meets the more-likely-than-not recognition threshold, the benefit recognized in the financial statements is measured as the largest amount of benefit that is greater than 50 percent likely of being realized upon settlement.

Dispositions and Acquisitions

Dispositions and Acquisitions	12 Months Ended
	Dec. 31, 2022
Business Combinations [Abstract]
Dispositions and Acquisitions	Note 3 : Dispositions and Acquisitions Dispositions During the year ended December 31, 2022, we sold th e five consolid ated hotels listed in the table below and received total gross proceeds of approximatel y $ 149 millio n. We recognized a net gain of approximate ly $ 15 million, which is included in gain (loss) on sales of assets, net in our 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 Hilton Garden Inn Chicago/Oakbrook Terrace Chicago, Illinois July 2022 Hilton Garden Inn LAX/El Segundo El Segundo, California September 2022 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 consolidated statements of comprehensive income (loss). Additionally, in Octobe r 2022, the joint ventures that own and operate the DoubleTree Hotel Las Vegas Airport sold the hotel for gross proceeds of approximately $ 22 million, and our pro-rata share of the gross proceeds was approximately $ 11 million. We recognized a gain of approximately $ 9 million, which is included in equity in earnings (losses) from investments in affiliates in our consolidated statements of comprehensive income (loss). During the year ended December 31, 2021 , we sold the five consolidated hotels listed in the table below, received total gross proceeds of approximately $ 477 million and recognized a net $ 5 million loss due to selling costs , which is included in gain (loss) on sale of assets, net in our consolidated statements of comprehensive income (loss). In addition, we recognized a $ 5 million impairment loss from the classification of the Hotel Adagio, Autograph Collection, as held for sale at June 30, 2021, as the selling costs reduced the gross proceeds to less than the net book value of the property, which is included in casualty and impairment loss, net in our 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 Hotel Adagio, Autograph Collection San Francisco, California July 2021 Le Meridien San Francisco San Francisco, California August 2021 (1) Sold as a portfolio in the same transaction. In February 2020, we sold the Embassy Suites Washington DC Georgetown and our interests in the entity that owns the Hilton São Paulo Morumbi for total gross proceeds of $ 208 million and recognized a gain, net of selling costs, of $ 63 million on these hotels, which is included in gain (loss) on sales of assets, net in our consolidated statements of comprehensive income (loss). Additionally, the net gain includes the reclassification of a currency translation adjustment of $ 7 million from accumulated other comprehensive loss into earnings concurrent with the sale of the Hilton São Paulo Morumbi. Acquisitions Merger with Chesapeake For the year ended December 31, 2020, we incurred an additional $ 9 million in acquisition costs in connection with the Merger, primarily related to transfer taxes based on new information received during 2020. which is included in acquisition costs in our consolidated statements of comprehensive income (loss).

Property and Equipment

Property and Equipment	12 Months Ended
	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Property and Equipment	Note 4 : Property and Equipment Property and equipment were: December 31, 2022 2021 (in millions) Land $ 3,317 $ 3,333 Buildings and leasehold improvements 6,512 6,606 Furniture and equipment 994 1,005 Construction-in-progress 201 82 11,024 11,026 Accumulated depreciation and amortization ( 2,723 ) ( 2,515 ) $ 8,301 $ 8,511 Depreciation of property and equipment was $ 268 million, $ 281 million and $ 297 million during the years ended December 31, 2022, 2021 and 2020, respectively. For the year ended December 31, 2021 , we recognized $ 5 million of impairment losses related to one of our hotels classified as held for sale as of June 30, 2021, which was subsequently sold in July 2021, as the estimated selling costs were expected to reduce the gross proceeds below the net book value of the property. For the year ended December 31, 2020, we recognized $ 90 million of impairment losses , primarily related to one of our hotels, which was triggered based on the effects of COVID-19 and our forecasted cash flows were insufficient to cover the carrying value of the asset.

Consolidated Variable Interest

Consolidated Variable Interest Entities ("VIEs") and Investments in Affiliates	12 Months Ended
	Dec. 31, 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 consolidated balance sheets include the following assets and liabilities of these entities: December 31, 2022 2021 (in millions) Property and equipment, net $ 208 $ 209 Cash and cash equivalents 21 18 Restricted cash 2 6 Accounts receivable, net 4 3 Prepaid expenses 2 1 Debt 205 208 Accounts payable and accrued expenses 8 7 Due to hotel manager 2 1 Other liabilities 4 3 Unconsolidated Entities Investments in affiliates were: December 31, Ownership % 2022 2021 (in millions) Hilton San Diego Bayfront (1) 25 % — 11 All others (4 and 5 hotels) (2) 20 % - 50 % 1 4 $ 1 $ 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 Acquisitions " for additional information. (2) In October 2022, the joint ventures that own and operate the DoubleTree Hotel Las Vegas Airport sold the hotel. Refer to Note 3: "Dispositions and Acquisitions " for additional information. The affiliates in which we own investments accounted for under the equity method had total debt of approximately $ 721 and $ 943 million as of December 31, 2022 and 2021 , respectively. Substantially all the debt is secured solely by the affiliates’ assets or is guaranteed by other partners without recourse to us.

Goodwill and Intangibles

Goodwill and Intangibles	12 Months Ended
	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangibles	Note 6 : Goodwill and Intangibles Due to the effects of COVID-19, we assessed goodwill for impairment during the first quarter of 2020. We determined that the carrying value of our consolidated and unconsolidated hotel reporting units exceeded their respective estimated fair value. As a result, we fully impaired our remaining goodwill balance, recognizing an impairment loss of $ 607 million in the first quarter of 2020. Intangible assets were: December 31, 2022 2021 (in millions) Air rights contract 45 45 Other 7 8 Accumulated amortization ( 9 ) ( 9 ) $ 43 $ 44 As of December 31, 2022, we estimated our future amortization expense for our intangible assets to be: Year (in millions) 2023 $ 1 2024 1 2025 1 2026 1 2027 1 Thereafter 38 $ 43

Debt

Debt	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Debt	Note 7 : Debt Debt balances and associated interest rates as of December 31, 2022 were: Principal balance as of Interest Rate Maturity Date December 31, 2022 December 31, 2021 (in millions) SF Mortgage Loan 4.11 % November 2023 $ 725 $ 725 HHV Mortgage Loan 4.20 % November 2026 1,275 1,275 Other mortgage loans (1) Average rate of 4.35 % 2023 to 2027 (2) 469 503 Revolver (3) SOFR + 2.10 % December 2026 50 — 2019 Term Facility (4) N/A August 2024 — 78 2025 Senior Notes 7.50 % June 2025 650 650 2028 Senior Notes 5.88 % October 2028 725 725 2029 Senior Notes 4.88 % May 2029 750 750 4,644 4,706 Add: unamortized premium 3 4 Less: unamortized deferred financing costs and ( 30 ) ( 38 ) $ 4,617 $ 4,672 (1) In December 2022, we fully repaid the $ 26 million mortgage loan secured by the Hilton Checkers Los Angeles . (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 December 31, 2022, Park had not received notice from the lender. (3) As of December 31, 2022, we had approximately $ 900 million of available capacity under our revolving credit facility ("Revolver"). (4) In December 2022, the 2019 Term Facility was fully repaid. Mortgage Loans 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 (“HHV Mortgage Loan”). Both the SF Mortgage Loan and the HHV Mortgage Loan bear interest at a fixed-rate and require interest-only payments through their respective maturity dates. The SF Mortgage Loan is currently able to be partially or fully repaid, without penalty, and the HHV Mortgage Loan may be partially or fully prepaid, subject to prepayment penalties. Our mortgage loans, which are associated with our three consolidated VIEs and mortgage loans acquired through the Merger, bear interest at either a fixed-rate or variable rate. Certain of our mortgage loans require interest-only loan payments through their respective maturity dates, and the remaining mortgage loans require payments of both principal and interest on a monthly basis . We are required to deposit with lenders certain cash reserves for restricted uses. As of December 31, 2022 and December 31, 2021, our consolidated balance sheets included $ 6 million and $ 60 million of restricted cash, respectively, related to our mortgage loans. The $ 92 millio n held by the lenders of the HHV Mortgage Loan and the mortgage loan secured by the Hilton Denver City Center was released to us during the third quarter upon submission of the certificates reflecting compliance with financial ratios of these loans. Credit Facilities 2016 Term Loan and Revolver In December 2016, we entered into a credit agreement (“Original Credit Agreement”) with Wells Fargo Bank, National Association as administrative agent, and certain others financial institutions party thereto as lenders. The facility included a $ 1 billion Revolver, which was increased to $ 1.075 billion in September 2020, and a term loan due December 2021 ("2016 Term Loan") . In March 2020, we fully drew down our $ 1 billion Revolver as a precautionary measure to increase liquidity and preserve financial flexibility in connection with the economic effect of COVID-19. We subsequently fully repaid the then outstanding balance under our Revolver using proceeds from: (i) the issuance of $ 2.1 billion of senior notes, (ii) the sales of consolidated hotels and (iii) existing cash. We also used proceeds from the issuance of the $ 725 million of senior notes due 2028 (“2028 Senior Notes”) to repay all of the amounts outstanding under our 2016 Term Loan. In September 2020, we extended $ 901 million of the commitments under the Revolver to December 2023 , and the remaining $ 174 million of commitments under the Revolver matured in December 2021 . In December 2022, we amended and restated the Original Credit Agreement ("Credit Agreement"). The Credit Agreement provides aggregate commitments of $ 950 million for the Revolver, which can be increased by up to $ 500 million with lender approval, and matures on December 1, 2026 , with the ability to extend its maturity by one year as (i) a one-year extension or (ii) two six-month extensions . Borrowings under the R evolver bear interest based upon the secured overnight financing rate ("SOFR") plus a credit spread adjustment of 0.1 %, plus an applicable margin based on our leverage ratio. We incur an unused facility fee on the Revolver of between 0.2 % and 0.3 %, based on our level of usage. The Credit Agreement also contains certain financial covenants including a maximum leverage ratio, minimum fixed charge coverage ratio, maximum secured leverage ratio, maximum unsecured indebtedness to unencumbered asset value ratio and minimum unencumbered adjusted net operating income to unsecured interest coverage ratio, certain of which were adjusted to revised levels through the end of the first quarter of 2024. The Credit Agreement allows us to conduct share repurchases, subject to compliance with the financial covenants, and released all collateral securing the Revolver and Senior Notes. The Credit Agreement restricts activities of the Company, including our ability to grant liens on certain properties, mergers, affiliate transactions, asset sales and the payment of dividends and distributions (except to the extent required to maintain REIT status and certain other agreed exceptions). Additionally, the Revolver permits one or more standby letters of credit, up to a maximum aggregate outstanding balance of $ 50 million, to be issued on behalf of us. Any outstanding standby letters of credit reduce the available borrowings on the Revolver by a corresponding amount. As of December 31, 2022, we had approximately $ 4 million outstanding on a standby letter of credit. We used $ 50 million of the Revolver, together with cash on hand, to fully repay the $ 78 million balance on our 2019 Term Facility. We capitalized $ 9 million of issuance costs during the year ended December 31, 2022. 2019 Term Facility In advance of the Merger, in August 2019, the Company, our Operating Company and PK Domestic entered into the 2019 Term Facility with Bank of America, N.A. as administrative agent, and certain other financial institutions party thereto as lenders. The 2019 Term Facility provided for $ 950 million unsecured delayed draw term loan commitments to fund the Merger. The 2019 Term Facility included a $ 100 million two-year delayed draw term loan tranche, which was unfunded and the commitments thereunder terminated on September 18, 2019, and a $ 850 million five-year delayed draw term loan tranche, which has a scheduled maturity date of August 2024 . On September 18, 2019, the five-year tranche was fully drawn to fund the Merger of which $ 180 million was prepaid in December 2019. During the year ended December 31, 2021, we repaid $ 592 million of the 2019 Term Facility using proceeds from the issuance of $ 750 million of senior notes due 2029 ("2029 Senior Notes") and from the sales of consolidated hotels during 2021. In December 2022, we used $ 50 million of the Revolver, together with cash on hand, to fully repay the $ 78 million balance on our 2019 Term Facility. In connection with the Merger, we assumed an interest rate swap from Chesapeake, which was designated as a cash flow hedge, to hedge the interest rate risk on a portion of the 2019 Term Facility. The interest rate swap, which matured on April 2022 , required us to pay fixed interest of 1.86 % per annum on a notional amount of $ 225 million, in exchange for floating rate interest equal to one-month LIBOR. In September 2021, following partial repayments of the 2019 Term Facility, we partially terminated the swap to reduce the notional amount to $ 78 million (the then outstanding balance of the 2019 Term Facility) and removed the designation of the swap as a cash flow hedge. Senior Notes 2025 Senior Notes In May 2020, our Operating Company, PK Domestic and PK Finance issued an aggregate of $ 650 million of senior notes due 2025 ("2025 Senior Notes"). We used $ 219 million of the net proceeds to repay a portion of the then outstanding balance under our Revolver, $ 69 million to partially repay the 2016 Term Loan and the remainder was used for general corporate purposes. The 2025 Senior Notes bear interest at a rate of 7.500 % per annum, payable semi-annually in arrears on June 1 and December 1 of each year, beginning December 1, 2020. The 2025 Senior Notes will mature on June 1, 2025 . We capitalized $ 13 million of issuance costs during the year ended December 31, 2020. We may redeem the 2025 Senior Notes, in whole or in part, at the applicable redemption prices set forth in the indenture. On or after June 1, 2024 , we may redeem the 2025 Senior Notes at 100 % of the principal amount, plus accrued and unpaid interest, if any, to, but excluding, the redemption date. 2028 Senior Notes In September 2020, our Operating Company, PK Domestic LLC and the PK Finance issued an aggregate of $ 725 million of 2028 Senior Notes. The 2028 Senior Notes bear interest at a rate of 5.875 % per annum, payable semi-annually in arrears on April 1 and October 1 of each year beginning April 1, 2021. Net proceeds were used to repay the 2016 Term Loan in full and to repay $ 80 million of the then outstanding balance under our Revolver. We capitalized $ 13 million of issuance costs during the year ended December 31, 2020. We may redeem the 2028 Senior Notes at any time prior to October 1, 2023 , in whole or in part, at a redemption price equal to 100 % of the principal amount thereof plus accrued and unpaid interest, if any, to the redemption date plus a make-whole premium. On or after October 1, 2023, we may redeem the 2028 Senior Notes, in whole or in part, at the applicable redemption prices set forth in the indenture. On or after October 1, 2025 , we may redeem the 2028 Senior Notes at 100 % of the principal amount, plus accrued and unpaid interest, if any, to, but excluding, the redemption date. In addition, before October 1, 2023, we may redeem up to 40 % of the 2028 Senior Notes with the net cash proceeds from certain equity offerings at a redemption price of 105.875 % of the principal amount redeemed. 2029 Senior Notes In May 2021, our Operating Company, PK Domestic and PK Finance issued an aggregate of $ 750 million of 2029 Senior Notes. Net proceeds were used to repay $ 564 million of the then outstanding balance under our Revolver and $ 173 million of the 2019 Term Facility. The 2029 Senior Notes bear interest at a rate of 4.875 % per annum, payable semi-annually in arrears on May 15 and November 15 of each year, beginning November 15, 2021. The 2029 Senior Notes will mature on May 15, 2029 . We capitalized $ 13 million of issuance costs during the year ended December 31, 2021. We may redeem the 2029 Senior Notes at any time prior to May 15, 2024 , in whole or in part, at a redemption price equal to 100 % of the principal amount thereof plus accrued and unpaid interest, if any, to the redemption date plus a make-whole premium. On or after May 15, 2024, we may redeem the 2029 Senior Notes, in whole or in part, at the applicable redemption prices set forth in the indenture. On or after May 15, 2026 , we may redeem the 2029 Senior Notes at 100 % of the principal amount, plus accrued and unpaid interest, if any, to, but excluding, the redemption date. In addition, before May 15, 2024, we may redeem up to 40 % of the 2029 Senior Notes with the net cash proceeds from certain equity offerings at a redemption price of 104.875 % of the principal amount redeemed. Indentures The 2025 Senior Notes, 2028 Senior Notes and 2029 Senior Notes (collectively, the “Senior Notes”) are guaranteed by us and by the subsidiaries of our Operating Company that also guarantee indebtedness under our credit facility. The guarantees are full and unconditional and joint and several. The Senior Notes are no longer secured following the amendment and restatement of the Original Credit Agreement in December 2022, at which time all collateral securing the Revolver and Senior Notes was released. The indentures governing the Senior Notes contain customary covenants that limit the issuers’ ability and, in certain instances, the ability of the issuers’ subsidiaries, to borrow money, create liens on assets, make distributions and pay dividends on or redeem or repurchase stock, make certain types of investments, sell stock in certain subsidiaries, enter into agreements that restrict dividends or other payments from subsidiaries, enter into transactions with affiliates, issue guarantees of indebtedness, and sell assets or merge with other companies. These covenants are subject to a number of exceptions and qualifications, including the ability to declare or pay any cash dividend or make any cash distribution to us to the extent necessary for us to fund a dividend or distribution by us that we believe is necessary to maintain our status as a REIT or to avoid payment of any tax for any calendar year that could be avoided by reason of such distribution, and the ability to make certain restricted payments not to exceed $ 100 million, plus 95 % of our cumulative Funds From Operations (as defined in the indentures), plus the aggregate net proceeds from (i) the sale of certain equity interests in, (ii) capital contributions to, and (iii) certain convertible indebtedness of the Operating Company. In addition, the indentures require our Operating Company to maintain total unencumbered assets as of each fiscal quarter of at least 150 % of total unsecured indebtedness, in each case calculated on a consolidated basis. Debt Maturities The contractual maturities of our debt, assuming the exercise of all extensions that are exercisable solely at our option, as of December 31, 2022 were: Year (in millions) 2023 $ 863 2024 7 2025 657 2026 1,613 2027 30 Thereafter (1) 1,474 $ 4,644 (1) Assumes the exercise of all extensions that are exercisable solely at our option.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 8 : 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: December 31, 2022 December 31, 2021 Hierarchy Carrying Fair Value Carrying Fair Value (in millions) Liabilities: SF Mortgage Loan 3 $ 725 $ 692 $ 725 $ 733 HHV Mortgage Loan 3 1,275 1,142 1,275 1,282 Other mortgage loans 3 469 435 503 491 2019 Term Facility 3 — — 78 76 Revolver 3 50 50 — — 2025 Senior Notes 1 650 652 650 688 2028 Senior Notes 1 725 661 725 761 2029 Senior Notes 1 750 635 750 771

Leases

Leases	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
Leases	Note 9 : Leases We lease hotel properties, land and equipment under operating and financing leases. We are subject to ground leases on 14 of our consolidated properties. Our leases expire, including options under lessor control, at various dates through 2083 , with varying renewal options, and the majority expire before 2032 . Our operating leases may require minimum rent payments, variable rent payments based on a percentage of revenue or income or rent payments equal to the greater of a minimum rent or variable rent. In addition, we may be required to pay some, or all, of the capital costs for property and equipment in the hotel during the term of the lease. The future minimum rent payments under our current leases, due in each of the next five years and thereafter as of December 31, 2022, were: Operating Year (in millions) 2023 $ 24 2024 24 2025 27 2026 18 2027 19 Thereafter 345 Total minimum rent payments 457 Less: imputed interest 223 Total operating lease liabilities $ 234 As of December 31, 2022 and 2021, the weighted average remaining operating lease term was 26.0 years and 26.9 years, respectively, and the weighted average discount rate used to determine the operating lease liabilities was 5.6 % and 5.3 %, respectively. The components of rent expense, which are primarily included in other property-level expenses in our consolidated statements of comprehensive income (loss), as well as supplemental cash flow and non-cash information for all operating leases were: Year Ended Year Ended Year Ended December 31, 2022 December 31, 2021 December 31, 2020 (in millions) Operating lease expense $ 28 $ 29 $ 30 Variable lease expense 13 4 2 Operating cash flows for operating leases 29 30 28 Operating lease right-of-use asset reassessment (1) ( 4 ) — — (1) For the year ended December 31, 2022, amount represents a reduction to our right-of-use assets and lease liability due to a change in discount rate upon a lease remeasurement.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Note 10: Income Taxes We are a REIT for 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. To the extent we continue to remain qualified as a REIT, we generally will not be subject to U.S. federal income tax on taxable income generated by our qualifying REIT activities that we distribute annually to our stockholders. Accordingly, no provision for U.S. federal income taxes has been included in our accompanying consolidated financial statements for the years ended December 31, 2022, 2021 and 2020 related to our REIT activities other than taxes related to our sale of built-in gain property (representing property held by us with an excess of fair value over tax basis on January 4, 2017). We were subject to U.S. federal income tax on taxable sales of built-in gain property during the five-year period following the date of our spin-off, which expired on January 3, 2022. In addition, we are subject to non-U.S. income tax on foreign held REIT activities and certain sales of foreign investments. Further, our taxable REIT subsidiaries (“TRSs”) are generally subject to U.S. federal, state and local, and foreign income taxes (as applicable). Our tax provision includes U.S. federal, state and foreign income taxes payable. The domestic and foreign components of income (loss) before income taxes were: Year Ended December 31, 2022 2021 2020 (in millions) U.S. income (loss) before tax $ 173 $ ( 450 ) $ ( 1,449 ) Foreign loss before tax — — ( 1 ) Income (loss) before income taxes $ 173 $ ( 450 ) $ ( 1,450 ) The components of our provisio n (benefit) for income taxes were: Year Ended December 31, 2022 2021 2020 (in millions) Current: U.S. Federal $ 1 $ 5 $ 1 State 1 ( 2 ) 3 Foreign — — 20 Total current 2 3 24 Deferred: U.S. Federal — ( 1 ) ( 29 ) State ( 2 ) — — Foreign — — ( 1 ) Total deferred ( 2 ) ( 1 ) ( 30 ) Total provision (benefit) for income taxes $ — $ 2 $ ( 6 ) Reconciliations of our tax provision at the U.S. statutory rate to the pro vision (benefit) for income taxes were: Year Ended December 31, 2022 2021 2020 (in millions) Statutory U.S. federal income tax provision (benefit) $ 36 $ ( 94 ) $ ( 306 ) State income taxes, net of U.S. federal tax benefit 1 — 1 Foreign income tax expense, net — — 19 Change in deferred tax asset valuation allowance 4 ( 22 ) 71 Tax rate change — — ( 7 ) REIT income not subject to tax ( 39 ) 116 221 Derecognition and remeasurement of deferred taxes ( 2 ) ( 1 ) ( 35 ) Recognized built-in gain tax — — 29 Other — 3 1 Provision (benefit) for income taxes $ — $ 2 $ ( 6 ) Deferred income taxes represent the tax effect of the differences between the book and tax bases of assets and liabilities plus carryforward items. The composition of net deferred tax balances were as follows: December 31, 2022 2021 (in millions) Deferred income tax assets (1) $ — $ 1 Deferred income tax liabilities (2) ( 9 ) ( 9 ) Net deferred tax liability $ ( 9 ) $ ( 8 ) (1) Included within other assets in our consolidated balance sheets, net of valuation allowance. (2) Included within other liabilities in our consolidated balance sheets. The tax effects of the temporary differences and carryforwards that give rise to our net deferred tax liability were: December 31, 2022 2021 (in millions) Deferred tax assets: Net operating loss carryforwards $ 53 $ 51 Deferred income 4 5 Accrued compensation 2 2 Other 7 7 Total gross deferred tax assets 66 65 Less: valuation allowance ( 59 ) ( 55 ) Deferred tax assets 7 10 Deferred tax liabilities: Property and equipment ( 3 ) ( 4 ) Investments ( 9 ) ( 9 ) Accrued compensation ( 4 ) ( 5 ) Deferred tax liabilities ( 16 ) ( 18 ) Net deferred tax liability $ ( 9 ) $ ( 8 ) As of December 31, 2022, we had U.S . federal and state net operating loss carryforwards of approximately $ 1.8 billion, which resulted in deferred tax assets of $ 53 million. Our U.S. federal net operating loss carryforwards of approximately $ 696 million are not subject to expiration. Our U.S. state net operating loss carryforwards of approximately $ 1.1 billion will begin to expire in 2025 . For periods ended prior to January 4, 2017, Hilton filed income tax returns for us, with U.S. federal, state and foreign jurisdictions. Hilton is under regular and recurring audit by the Internal Revenue Service on open tax positions. The timing of the resolution of tax audits is highly uncertain, as are the amounts, if any, that may ultimately be paid upon such resolution. Changes may result from the conclusion of ongoing audits, appeals or litigation in U.S. federal, state, local, and foreign tax jurisdictions or from the resolution of various proceedings between the U.S. and foreign tax authorities. As of December 31, 2022, Hilton remains subject to U.S. federal examinations from 2005 through 2017. Various income tax returns for Hilton filed with state, local and foreign jurisdictions remain subject to examination by the applicable taxing authorities. We may be subject to U.S. federal, state and foreign examinations for periods ending after January 4, 2017. We made no cash distributions to our stockholders in 2021. The cash distributions to stockholders in 2022 and 2020 are characterized, for U.S. federal income tax purposes, as follows: Year Ended December 31, 2022 2020 Common distributions (per share): Ordinary dividends $ 0.000000 $ 0.244571 Capital gain distributions (1) 0.280000 0.205429 (1) Capital gain distribution disclosure pursuant to Treasury Regulation §1.1061-6(c). The following additional information relates to the capital gain distributions for calendar year 2022 and 2020, as reported on Park Hotels & Resorts Inc. Form 1099-DIV, Box 2a. For purposes of Internal Revenue Code Section 1061, which is generally applicable to direct and indirect holders of “applicable partnership interests”: (i) the “One Year Amounts” are $ 0.000000 and $ 0.205429 per share, and (ii) the “Three Year Amounts” are $ 0.000000 and $ 0.205429 per share, with respect to the 2022 and 2020 capital gain distributions, respectively.

Share-Based Compensation

Share-Based Compensation	12 Months Ended
	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Share-Based Compensation	Note 11 : 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 December 31, 2022, 2,312,448 shares of common 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 December 31, 2022, 395,081 shares of common stock remain available for future issuance. For the years ended December 31, 2022, 2021 and 2020, we recognized $ 17 million, $ 19 million and $ 20 million of share-based compensation expense, respectively. As of December 31, 2022, unrecognized compensation expense was $ 17 million, which is expected to be recognized over a weighted-average period of 1.4 years. The total fair value of shares vested (calculated as the number of shares multiplied by the vesting date share price) during the years ended December 31, 2022, 2021 and 2020 was $ 7 million, $ 18 million and $ 27 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 years ended December 31, 2022, 2021 and 2020: Number of Shares Weighted-Average Unvested at January 1, 2020 557,245 $ 29.10 Granted 672,689 18.18 Vested ( 333,685 ) 25.67 Forfeited ( 61,991 ) 28.97 Unvested at December 31, 2020 834,258 21.68 Granted 434,486 20.52 Vested ( 456,357 ) 19.08 Forfeited ( 23,065 ) 22.45 Unvested at December 31, 2021 789,322 22.52 Granted 471,614 18.16 Vested ( 378,605 ) 22.51 Forfeited ( 38,485 ) 20.28 Unvested at December 31, 2022 843,846 $ 20.19 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 December 31, 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 years ended December 31, 2022, 2021 and 2020: Number of Shares Weighted-Average Unvested at January 1, 2020 574,797 $ 32.82 Granted 1,641,117 14.39 Vested ( 973,891 ) 20.00 Forfeited ( 163,468 ) 17.34 Unvested at December 31, 2020 1,078,555 18.70 Granted 327,416 27.16 Vested ( 428,255 ) 16.33 Forfeited ( 5,642 ) 20.29 Unvested at December 31, 2021 972,074 22.59 Granted 393,225 21.93 Forfeited ( 166,974 ) 34.47 Unvested at December 31, 2022 1,198,325 $ 20.71 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: Year Ended December 31, 2022 2021 2020 Expected volatility (1) 57.5 % 60.0 % 22.0 % - 65.0 % Dividend yield (2) — — — Risk-free rate 1.7 % 0.2 % - 0.3 % 0.3 % - 1.5 % Expected term 3 years 3 years 1 - 4 years (1) The weighted average expected volatility for the years ended December 31, 2022, 2021 and 2020 was 57.5 % , 60.0 % and 46.2 % , respectively. (2) 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	12 Months Ended
	Dec. 31, 2022
Earnings Per Share [Abstract]
Earnings Per Share	Note 12 : Earnings Per Share The following table presents the calculation of basic and diluted earnings per share (“EPS”): Year Ended December 31, 2022 2021 2020 (in millions, except per share amounts) Numerator: Net income (loss) attributable to stockholders, net of earnings $ 162 $ ( 459 ) $ ( 1,440 ) Denominator: Weighted average shares outstanding – basic 228 $ 236 $ 236 Unvested restricted shares — $ — $ — Weighted average shares outstanding – diluted 228 $ 236 $ 236 Earnings (loss) per share – Basic (1) $ 0.71 $ ( 1.95 ) $ ( 6.11 ) Earnings (loss) per share – Diluted (1) $ 0.71 $ ( 1.95 ) $ ( 6.11 ) (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 years ended December 31, 2022, 2021 and 2020 because their effect would have been anti-dilutive.

Hotel Management Operating and

Hotel Management Operating and License Agreements	12 Months Ended
	Dec. 31, 2022
Hotel Management Operating And License Agreements [Abstract]
Hotel Management Operating And License Agreements	Note 13 : Hotel Management Operating and License Agreements Management and Franchise Fees We have management agreements, whereby we pay a base fee equal to a percentage of total revenues, as defined, as well as an incentive fee if specified financial performance targets are achieved. Our managers generally have sole responsibility for all activities necessary for the operation of the hotels, including establishing room rates, processing reservations and promoting and publicizing the hotels. Our managers also generally provide all employees for the hotels, prepare reports, budgets and projections, and provide other administrative and accounting support services to the hotels. We have consultative and limited approval rights with respect to certain actions of our managers, including entering into long-term or high value contracts, engaging in certain actions relating to legal proceedings, approving the operating budget, making certain capital expenditures and the hiring of certain management personnel. Our management agreements have initial terms ranging from 5 to 30 years and allow for one or more renewal periods. Assuming all renewal periods are exercised by our hotel managers, the total term of our management agreements range from 5 to 70 years . We also have franchise agreements for 4 hotels. The franchise agreements have an initial term of 13 to 20 years and cannot be extended without the franchisor’s consent. Marketing Fees Additionally, the management and franchise agreements generally require a marketing fee equal to a percentage of rooms revenues. Total marketing fees were $ 45 million, $ 26 million and $ 15 million for the years ended December 31, 2022, 2021 and 2020, respectively, and were included in other departmental and support expense in our consolidated statements of comprehensive income (loss). Employee Cost Reimbursements We are responsible for reimbursing our managers for certain employee related costs outside of payroll. These costs include contributions to a defined contribution 401(k) Retirement Savings Plan administered by our managers, union-sponsored pension plans and other post-retirement plans. All of these plans are the responsibility of our managers and our obligation is only for the reimbursement of these costs for individuals who work at our hotel properties. Total employee cost reimbursements were $ 117 million, $ 55 million and $ 57 million for the years ended December 31, 2022, 2021 and 2020 , respectively, and were included in the respective operating expenses line item in our consolidated statements of comprehensive income (loss) based upon the nature of services provided by such employees.

Business Segment Information

Business Segment Information	12 Months Ended
	Dec. 31, 2022
Segment Reporting [Abstract]
Business Segment Information	Note 14 : Business Segment Information As of December 31, 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, presented herein, is calculated as EBITDA from hotel operations, adjusted to exclude the following items that are not reflective of our ongoing operating performance or incurred in the normal course of business, and thus, excluded in management's analysis in making day-to-day operating decisions and evaluations of our operating performance against other companies within our industry: • 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: Year Ended December 31, 2022 2021 2020 (in millions) Revenues: Total consolidated hotel revenue $ 2,426 $ 1,311 $ 823 Other revenues 75 51 29 Total revenues $ 2,501 $ 1,362 $ 852 Net income (loss) $ 173 $ ( 452 ) $ ( 1,444 ) Other revenues ( 75 ) ( 51 ) ( 29 ) Casualty and impairment loss, net 6 9 696 Depreciation and amortization expense 269 281 298 Corporate general and administrative expense (1) 63 62 61 Acquisition costs — — 10 Other operating expenses 72 49 36 (Gain) loss on sales of assets, net ( 13 ) 5 ( 62 ) Interest income ( 13 ) ( 1 ) ( 2 ) Interest expense 247 258 213 Equity in (earnings) losses from investments in affiliates ( 15 ) 7 22 Income tax expense (benefit) — 2 ( 6 ) Other (gain) loss, net ( 96 ) 7 15 Severance expense — — 33 Other items 12 1 12 Hotel Adjusted EBITDA $ 630 $ 177 $ ( 147 ) (1) Excludes severance expense . The following table presents total assets for our consolidated hotels, reconciled to total assets: December 31, 2022 2021 (in millions) Consolidated hotels $ 9,726 $ 9,724 All other 5 19 Total assets $ 9,731 $ 9,743

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2022
Supplemental Cash Flow Elements [Abstract]
Commitments and Contingencies	Note 15 : Commitments and Contingencies As of December 31, 2022, we had outstanding commitments under third-party contracts of approximately $ 121 million for capital expenditures at our properties, of which $ 57 million relates to projects at the Bonnet Creek complex, including the meeting space expansion project and renovating guestrooms, existing meeting space, lobbies and golf course. 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 December 31, 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. In February 2021, we were required to make a payment to Hilton of approximately $ 11 million representing our share of: (i) the deposit required from Hilton by the ATO to further contest the claim and (ii) certain out-of-pocket expenses incurred by Hilton.

Supplemental Disclosures of Cas

Supplemental Disclosures of Cash Flow Information	12 Months Ended
	Dec. 31, 2022
Supplemental Cash Flow Elements [Abstract]
Supplemental Disclosures of Cash Flow Information	Note 16: Supplemental Disclosures of Cash Flow Information Interest paid during the years ended December 31, 2022, 2021 and 2020, was $ 245 million, $ 242 million and $ 187 million, respectively. We paid $ 7 million, $ 31 million and $ 23 million in income taxes during the years ended December 31, 2022, 2021 and 2020, respectively. Capital expenditures included within accounts payable and accrued expenses in our consolidated balance sheets were $ 33 million, $ 11 million and $ 6 million d uring the years ended December 31, 2022, 2021 and 2020, respectively. The following non-cash financing activity was excluded from the consolidated statements of cash flows: During the year ended December 31, 2022: • We declared $ 56 million of dividends that were unpaid and accrued as of December 31, 2022.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2022
Subsequent Events [Abstract]
Subsequent Events	Note 17 : Subsequent Events In January 2023, we repurchased an additional 2.5 million shares of our common stock for a total purchase price of $ 30 million. In February 2023, we sold the 508 -room Hilton Miami Airport for gross proceeds of $ 118.25 million, or $ 233,000 per key, and utilized a portion of the net proceeds to fully repay the $ 50 million outstanding under our Revolver.

Schedule III Real Estate and Ac

Schedule III Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2022
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]
Schedule III - Real Estate and Accumulated Depreciation	Park Hotels & Resorts Inc. Sched ule III Real Estate and Accumulated Depreciation (Dollars in millions) December 31, 2022 Initial Cost Gross Amounts at Which Carried at Close of Period Hotel Property Encumbrances Land Building & Improvements Furniture, Fixtures & Equipment Costs Capitalized Subsequent to Acquisition Land Building & Improvements Furniture, Fixtures & Equipment Total Accumulated Depreciation Date of Construction Date Acquired (1) Life Upon Caribe Hilton $ — $ 38 $ 56 $ 7 $ 85 $ 40 $ 111 $ 35 $ 186 $ ( 50 ) 1949 10/24/2007 3 - 40 years DoubleTree Hotel Durango — — — 2 5 — 2 5 7 ( 5 ) 1985 10/24/2007 3 - 40 years DoubleTree Hotel Ontario Airport 30 14 58 3 20 13 64 18 95 ( 38 ) 1974 10/24/2007 3 - 40 years DoubleTree Hotel San Diego – Mission — — — 2 17 — 10 9 19 ( 13 ) 1989 10/24/2007 3 - 40 years DoubleTree Hotel San Jose — 15 67 5 26 15 82 16 113 ( 45 ) 1980 10/24/2007 3 - 40 years DoubleTree Hotel Seattle Airport — — — 11 27 — 11 27 38 ( 33 ) 1969 10/24/2007 3 - 40 years DoubleTree Hotel Sonoma Wine Country — — — 4 11 — 6 9 15 ( 12 ) 1977 10/24/2007 3 - 40 years Embassy Suites Austin Downtown South — — 45 2 18 — 57 8 65 ( 39 ) 1983 10/24/2007 3 - 40 years Embassy Suites Phoenix—Airport — — 15 1 ( 16 ) — — — — — 1986 10/24/2007 3 - 40 years Hilton Boston Logan Airport — — 108 6 31 — 130 15 145 ( 55 ) 1999 10/24/2007 3 - 40 years Hilton Chicago — 69 233 12 177 70 368 53 491 ( 173 ) 1927 10/24/2007 3 - 40 years Hilton Hawaiian Village Waikiki 1,275 925 807 17 389 964 1,077 97 2,138 ( 503 ) 1961 10/24/2007 3 - 40 years Hilton McLean Tysons Corner — 50 82 3 ( 14 ) 23 55 43 121 ( 67 ) 1987 10/24/2007 3 - 40 years Hilton New Orleans Riverside — 89 217 3 98 90 269 48 407 ( 142 ) 1977 10/24/2007 3 - 40 years Hilton Oakland Airport — — 13 3 1 — 9 8 17 ( 11 ) 1970 10/24/2007 3 - 40 years Hilton Salt Lake City Center — — — 10 19 — 8 21 29 ( 24 ) 2002 10/24/2007 3 - 40 years Hilton San Francisco Union Square 725 (2) 113 232 16 138 114 342 43 499 ( 159 ) 1964 10/24/2007 3 - 40 years Hilton Santa Barbara Beachfront Resort 162 71 50 2 43 71 75 20 166 ( 40 ) 1986 10/24/2007 3 - 40 years Hilton Seattle Airport & Conference — — 70 3 16 — 80 9 89 ( 42 ) 1961 10/24/2007 3 - 40 years Hilton Short Hills — 59 54 3 ( 91 ) 13 10 2 25 ( 2 ) 1988 10/24/2007 3 - 40 years Hilton Waikoloa Village — 160 340 25 ( 63 ) 110 291 61 462 ( 172 ) 1988 10/24/2007 3 - 40 years New York Hilton Midtown — 1,096 542 13 135 1,043 655 88 1,786 ( 305 ) 1963 10/24/2007 3 - 40 years DoubleTree Hotel Washington DC – Crystal — 43 95 2 49 43 127 19 189 ( 69 ) 1982 12/14/2007 3 - 40 years Hilton Miami Airport — 64 36 3 39 64 61 17 142 ( 41 ) 1984 12/14/2007 3 - 40 years DoubleTree Hotel Spokane City Center 14 3 24 2 12 3 30 8 41 ( 15 ) 1986 1/1/2010 3 - 40 years Hilton Orlando Lake Buena Vista — — 137 10 40 — 156 31 187 ( 74 ) 1983 8/30/2010 3 - 40 years Embassy Suites Kansas City – Plaza — — 26 1 4 — 28 3 31 ( 22 ) 1973 7/25/2014 3 - 40 years Signia by Hilton Orlando Bonnet Creek — 15 377 31 101 18 474 32 524 ( 94 ) 2009 2/12/2015 3 - 40 years Park Hotels & Resorts Inc. Schedule III Real Estate and Accumulated Depreciation (Dollars in millions) December 31, 2022 Initial Cost Gross Amounts at Which Carried at Close of Period Hotel Property Encumbrances Land Building & Improvements Furniture, Fixtures & Equipment Costs Capitalized Subsequent to Acquisition Land Building & Improvements Furniture, Fixtures & Equipment Total Accumulated Depreciation Date of Construction Date Acquired (1) Life Upon Parc 55 San Francisco – A Hilton Hotel $ — (2) $ 175 $ 315 $ 32 $ 20 $ 175 $ 329 $ 38 $ 542 $ ( 100 ) 1984 2/12/2015 3 - 40 years Waldorf Astoria Orlando — 34 274 29 22 34 289 36 359 ( 95 ) 2009 2/12/2015 3 - 40 years Casa Marina Key West, Curio Collection — 164 174 9 13 164 184 12 360 ( 47 ) 1920 2/17/2015 3 - 40 years The Reach Key West, Curio Collection — 57 67 3 18 57 79 9 145 ( 20 ) 1970 2/17/2015 3 - 40 years Juniper Hotel Cupertino, Curio Collection — 40 64 8 — 40 65 7 112 ( 19 ) 1973 6/2/2015 3 - 40 years Boston Marriott Newton — 24 74 15 2 24 75 16 115 ( 16 ) 1969 9/18/2019 3 - 40 years Hilton Checkers Los Angeles — 19 44 7 2 19 46 7 72 ( 7 ) 1927 9/18/2019 3 - 40 years Hilton Denver City Center 56 14 163 21 — 14 163 21 198 ( 25 ) 1982 9/18/2019 3 - 40 years Hyatt Centric Fisherman’s Wharf — 33 122 11 1 33 123 11 167 ( 21 ) 1990 9/18/2019 3 - 40 years Hyatt Regency Boston 132 — 177 14 1 — 178 14 192 ( 28 ) 1985 9/18/2019 3 - 40 years Hyatt Regency Mission Bay Spa and Marina — 5 118 15 3 5 120 16 141 ( 20 ) 1961 9/18/2019 3 - 40 years JW Marriott San Francisco Union Square — — 191 13 2 — 193 13 206 ( 23 ) 1987 9/18/2019 3 - 40 years Royal Palm South Beach Miami, a Tribute — 16 139 12 4 16 142 13 171 ( 20 ) 1926 9/18/2019 3 - 40 years W Chicago – City Center 75 20 76 14 1 20 77 14 111 ( 13 ) 1928 9/18/2019 3 - 40 years W Chicago – Lakeshore — 22 58 8 2 22 59 9 90 ( 13 ) 1965 9/18/2019 3 - 40 years Total $ 2,469 $ 3,447 $ 5,740 $ 413 $ 1,408 $ 3,317 $ 6,710 $ 981 $ 11,008 $ ( 2,712 ) (1) On October 24, 2007, a predecessor to our Parent became a wholly owned subsidiary of an affiliate of The Blackstone Group L.P. following the completion of the Blackstone Merger . (2) Single $ 725 million CMBS loan secured by Hilton San Francisco Union Square and Parc 55 San Francisco – A Hilton Hotel. Park Hotels & Resorts Inc. Schedule III Real Estate and Accumulated Depreciation—(continued) (Dollars in millions) December 31, 2022 Notes: (A) The change in total cost of properties for the fiscal years ended December 31, 2022, 2021 and 2020 is as follows: Year Ended December 31, 2022 2021 2020 (in millions) Balance at beginning of period $ 11,010 $ 11,376 $ 11,566 Additions during period: Capital expenditures 188 62 66 Transfer to real estate assets (1) — 83 — Deductions during period: Dispositions, including casualty losses and impairment loss on ( 190 ) ( 511 ) ( 250 ) Foreign exchange effect — — ( 6 ) Balance at end of period $ 11,008 $ 11,010 $ 11,376 (1) During 2021, four of our hotels that were previously managed by us were transitioned to a third-party hotel management company. (B) The change in accumulated depreciation for the fiscal years ended December 31, 2022, 2021 and 2020 is as follows: Year Ended December 31, 2022 2021 2020 (in millions) Balance at beginning of period $ 2,504 $ 2,241 $ 2,038 Additions during period: Depreciation expense 267 280 294 Transfer to real estate assets (1) — 30 — Deductions during period: Dispositions, including casualty losses ( 59 ) ( 47 ) ( 89 ) Foreign exchange effect — — ( 2 ) Balance at end of period $ 2,712 $ 2,504 $ 2,241 (1) During 2021, four of our hotels that were previously managed by us were transitioned to a third-party hotel management company. (C) The aggregate cost of real estate for U.S. federal income tax purposes is approximately $ 6.288 billion as of December 31, 2022 .

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of the Company, our wholly owned subsidiaries and entities in which we have a controlling financial interest, including variable interest entities (“VIEs”) where we are the primary beneficiary. The 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”). All significant intercompany transactions and balances within these consolidated financial statements have been eliminated.
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.
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.
Property and Equipment	Property and Equipment Property and equipment are recorded at cost, and interest applicable to major construction or development projects is capitalized. Costs of improvements that extend the economic life or improve service potential are also capitalized. Capitalized costs are depreciated over their estimated useful lives. Costs for normal repairs and maintenance are expensed as incurred. Depreciation is recorded using the straight-line method over the assets’ estimated useful lives, which are generally as follows: buildings and improvements ( 8 to 40 years ); furniture and equipment ( 3 to 8 years ); and computer equipment and acquired software ( 3 years). Leasehold improvements are depreciated over the shorter of the estimated useful life, based on the estimates above, or the lease term. We evaluate the carrying value of our property and equipment if there are indicators of potential impairment. We perform an analysis to determine the recoverability of the asset’s carrying value by comparing the expected undiscounted future cash flows to the net book value of the asset. If it is determined that the expected undiscounted future cash flows are less than the net book value of the asset, the excess of the net book value over the estimated fair value is recorded in our consolidated statements of comprehensive income (loss) within impairment losses. Fair value is generally estimated using valuation techniques that consider the discounted cash flows of the asset using discount and capitalization rates deemed reasonable for the type of asset, as well as prevailing market conditions, appraisals, recent similar transactions in the market and, if appropriate and available, current estimated net sales proceeds from pending offers. If sufficient information exists to reasonably estimate the fair value of a conditional asset retirement obligation, including environmental remediation liabilities, we recognize the fair value of the obligation when the obligation is incurred, which is generally upon acquisition, construction or development and/or through the normal operation of the asset.
Assets Held for Sale	Assets Held for Sale We classify a property as held for sale when we commit to a plan to sell the asset, the sale of the asset is probable within one year, and it is unlikely that action to complete the sale will change or that the sale will be withdrawn. When we determine that classification of an asset as held for sale is appropriate, we cease recording depreciation for the asset and value the property at the lower of depreciated cost or fair value, less costs to dispose. Further, the related assets and liabilities of the held for sale property will be classified as assets held for sale in our consolidated balance sheets. Any gains on sales of properties are recognized at the time of sale or deferred and recognized in net income (loss) in subsequent periods as any relevant conditions requiring deferral are satisfied.
Investments in Affiliates	Investments in Affiliates The consolidated financial statements include entities in which we have a controlling financial interest, including VIEs where we are the primary beneficiary. The determination of a controlling financial interest is based upon the terms of the governing agreements of the respective entities, including the evaluation of rights held by other interests. If the entity is considered to be a VIE, we determine whether we are the primary beneficiary, and then consolidate those VIEs for which we have determined we are the primary beneficiary. If the entity in which we hold an interest does not meet the definition of a VIE, we evaluate whether we have a controlling financial interest through our voting interests in the entity. We consolidate entities when we own more than 50 percent of the voting shares of a company or otherwise have a controlling financial interest. References in these financial statements to net income (loss) attributable to stockholders do not include non-controlling interests, which represent the outside ownership interests of our consolidated, non-wholly owned entities and are reported separately. We hold investments in affiliates that primarily own or lease hotels. Investments in affiliates over which we exercise significant influence, but lack a controlling financial interest, are accounted for using the equity method. We account for investments using the equity method when we have the ability to exercise significant influence over the entity, typically through a more than minimal investment. Our proportionate share of earnings (losses) from our equity method investments is presented as equity in earnings (losses) from investments in affiliates in our consolidated statements of comprehensive income (loss). Distributions from investments in affiliates are presented as an operating activity in our consolidated statements of cash flows when such distributions are a return on investment. Distributions from investments in affiliates are recorded as an investing activity in our consolidated statements of cash flows when such distributions are a return of investment. We assess the recoverability of our equity method investments if there are indicators of potential impairment. If an identified event or change in circumstances requires an evaluation to determine if an investment may have an other-than-temporary impairment, we assess the fair value of the investment based on accepted valuation methodologies, which include discounted cash flows, estimates of sales proceeds and external appraisals. If an investment’s fair value is below its carrying value and the decline is considered to be other-than-temporary, we will recognize an impairment loss in equity in earnings (losses) from investments in affiliates in our consolidated statements of comprehensive income (loss).
Non-controlling Interests	Non-controlling Interests We present the portion of any equity that we do not own in entities that we have a controlling financial interest (and thus consolidate) as non-controlling interests and classify those interests as a component of total equity, separate from total stockholders’ equity, on our consolidated balance sheets. For consolidated joint ventures with pro rata distribution allocations, net income or loss is allocated between the joint venture partners based on their respective stated ownership percentages. In addition, we include net income (loss) attributable to the noncontrolling interest in net income (loss) in our consolidated statements of comprehensive income (loss).
Goodwill	Goodwill Goodwill represents the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. We do not amortize goodwill, but rather evaluate goodwill for potential impairment on an annual basis or at other times during the year if events or circumstances indicate that the carrying amount may not be recoverable. We typically evaluate the carrying value of our goodwill annually. However, due to the effects of COVID-19, including (i) the significant decline in our common stock price, (ii) negative operating cash flows in the first quarter of 2020, (iii) the suspension of operations at certain of our hotels, and (iv) significant declines in occupancy and demand, we assessed goodwill during the first quarter of 2020. We had two reporting units, consolidated and unconsolidated hotels, to which goodwill had been allocated. Certain of the entities that are included in our consolidated financial statements were consolidated subsidiaries of our Parent at the time of its predecessor’s merger with an affiliate of The Blackstone Group L.P. (“Blackstone Merger”). Our Parent allocated goodwill to us based on the relative fair value of our properties compared to that of Parent’s ownership segment as of the date of the Blackstone Merger. We reviewed the carrying value of goodwill by comparing the carrying value of a reporting unit to its fair value, as determined by us. The valuation was based on internal projections of expected future cash flows and operating plans, as well as market conditions relative to the operations of our reporting unit. We determined that the carrying value of our consolidated and unconsolidated hotel reporting units exceeded their respective estimated fair value and fully impaired our remaining goodwill balance, recognizing an impairment loss of $ 607 million in the first quarter of 2020 included within casualty and impairment loss, net in our consolidated statements of comprehensive income (loss).
Intangible Assets	Intangible Assets Intangible assets with finite useful lives primarily include an air rights contract. The air rights contract value is based on the present value of the difference between the contractual rental amounts and the market rental rates for similar contracts, measured over a period equal to the remaining non-cancellable term of the contract. Intangible assets are amortized using the straight-line method over the remaining term of the contract. We review all finite lived intangible assets for impairment when circumstances indicate that their carrying amounts may not be recoverable. If the carrying value of an asset group is not recoverable, we recognize an impairment loss for the excess of the carrying value over the fair value in our consolidated statements of comprehensive income (loss).
Asset Acquisitions	Asset Acquisitions We consider an asset acquisition to occur when substantially all the fair value of an acquisition is concentrated in a single identifiable asset or a group of similar identifiable assets. In an acquisition of assets, we are not required to expense our acquisition-related costs, and goodwill is not assigned. We will account for the properties purchased as asset acquisitions by allocating the total cash consideration, including transaction costs, to the individual assets acquired and liabilities assumed, respectively, on a relative fair value basis.
Business Combinations	Business Combinations We consider a business combination to occur when we take control of a business by acquiring its net assets or equity interests. We record the assets acquired, liabilities assumed and non-controlling interests at fair value as of the acquisition date, including any contingent consideration. We evaluate factors, including market data for similar assets, expected future cash flows discounted at risk-adjusted rates and replacement cost for the assets to determine an appropriate fair value of the assets. Acquisition-related costs, such as due diligence, legal and accounting fees, are expensed in the period incurred and are not capitalized or applied in determining the fair value of the acquired assets.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents include all highly liquid investments with original maturities, when purchased, of three months or less.
Restricted Cash	Restricted Cash Restricted cash includes cash balances established as lender reserves required by our debt agreements and reserves for capital expenditures in accordance with certain of our management agreements.
Allowance for Doubtful Accounts	Allowance for Doubtful Accounts An allowance for doubtful accounts is provided on accounts receivable when losses are probable based on historical collection activity and current business conditions.
Leases	Leases We consider an arrangement to contain a lease if it conveys the right to control the use of an identified asset for a period of time in exchange for compensation. Right-of-use (“ROU”) assets represent our right to use an underlying asset for the lease term and lease liabilities represent the present value of our fixed payment obligations. Leases with a term of 12 months or less are not recorded on the balance sheet. We use our estimated incremental borrowing rate to determine the present value of our lease obligations. Our operating leases may require fixed payments, variable payments based on a percentage of revenue or income, or payments equal to the greater of a fixed or variable payment. Variable payments are excluded from the ROU assets and lease liabilities and are recognized in the period in which the obligation is incurred. Operating lease expense is recognized on a straight-line basis over the lease term. Our lease terms include renewal options that we are reasonably certain to exercise, and renewal options controlled by the lessor.
Fair Value Measurements Valuation Hierarchy	Fair Value Measurements—Valuation Hierarchy Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants on the measurement date (an exit price). We use the three-level valuation hierarchy for classification of fair value measurements. The valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. Inputs refer broadly to the assumptions that market participants would use in pricing an asset or liability. Inputs may be observable or unobservable. Observable inputs are inputs that reflect the assumptions market participants would use in pricing the asset or liability developed based on market data obtained from independent sources. Unobservable inputs are inputs that reflect our own assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The three-level hierarchy of inputs is summarized below: • Level 1—Valuation is based upon quoted prices (unadjusted) for identical assets or liabilities in active markets. • Level 2—Valuation is based upon quoted prices for similar assets and liabilities in active markets, or other inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the instrument. • Level 3—Valuation is based upon other unobservable inputs that are significant to the fair value measurement. The classification of assets and liabilities within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement in its entirety at the end of each reporting period.
Derivative Instruments	Derivative Instruments We may use derivative instruments as part of our overall strategy to manage our exposure to market risks associated with fluctuations in interest rates. We will regularly monitor the financial stability and credit standing of the counterparties to our derivative instruments. Under the terms of certain loan agreements, we may be required to maintain derivative financial instruments to manage interest rates. We do not enter into derivative financial instruments for trading or speculative purposes. We record all derivatives at fair value. On the date the derivative contract is entered, we designate the derivative as one of the following: a hedge of a forecasted transaction or the variability of cash flows to be paid (“cash flow hedge”); a hedge of the fair value of a recognized asset or liability (“fair value hedge”); or an undesignated hedge instrument. Changes in the fair value of a derivative that is qualified, designated and highly effective as a cash flow hedge or net investment hedge are recorded in other comprehensive income (loss) in the consolidated statements of comprehensive income (loss) until they are reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. Changes in the fair value of a derivative that is qualified, designated and highly effective as a fair value hedge, along with the gain or loss on the hedged asset or liability that is attributable to the hedged risk, are recorded in current period earnings. Changes in the fair value of undesignated derivative instruments and the ineffective portion of designated derivative instruments are reported in current period earnings. Cash flows from designated derivative financial instruments are classified within the same category as the item being hedged in the consolidated statements of cash flows. Cash flows from undesignated derivative financial instruments are included as an investing activity in our consolidated statements of cash flows. If we determine that we qualify for and will designate a derivative as a hedging instrument, at the designation date we formally document all relationships between hedging activities, including the risk management objective and strategy for undertaking various hedge transactions. This process includes matching all derivatives that are designated as cash flow hedges to specific forecasted transactions and linking all derivatives designated as fair value hedges to specific assets and liabilities in our consolidated balance sheets. To the extent we have designated a derivative as a hedging instrument, each reporting period we assess the effectiveness of our designated hedges in offsetting the variability in the cash flows or fair values of the hedged assets or obligations using the Hypothetical Derivative Method. This method compares the cumulative change in fair value of each hedging instrument to the cumulative change in fair value of a hypothetical hedging instrument, which has terms that identically match the critical terms of the respective hedged transactions. Thus, the hypothetical hedging instrument is presumed to perfectly offset the hedged cash flows. Ineffectiveness results when the cumulative change in the fair value of the hedging instrument exceeds the cumulative change in the fair value of the hypothetical hedging instrument. We discontinue hedge accounting prospectively, when the derivative is not highly effective as a hedge, the underlying hedged transaction is no longer probable, or the hedging instrument expires, is sold, terminated or exercised.
Revenue Recognition	Revenue Recognition Our results of operations primarily consist of room rentals, food and beverage sales and other ancillary goods and services from hotel properties. Other revenues primarily relate to support services we provide to Hilton Grand Vacations (“HGV”), in addition to revenue from our laundry business prior to permanently suspending operations in 2020. Hotel operating revenues are disaggregated into room revenue, food and beverage revenue, ancillary hotel revenue and other revenue on the consolidated statements of comprehensive income (loss) to illustrate how economic factors affect the nature, amount and timing, and uncertainty of revenue and cash flows. Rooms revenue is recognized over time when rooms are occupied and food and beverage revenue is recognized at a point in time when goods and services have been delivered or rendered. Ancillary hotel revenue and other revenue is generally recognized at a point in time as goods and services are delivered or rendered. We assess if we are the principal or agent for certain ancillary services provided by third parties. If we are the principal, we recognize revenue based on the gross sales price. If we are the agent, we recognize revenue net of costs paid to service providers. Payment received for a future stay or event is recognized as an advance deposit, which is included in other liabilities on our consolidated balance sheet. Advance deposits are recognized as revenue when rooms are occupied or goods or services have been delivered or rendered to our customer. Our advance deposit balance as of December 31, 2022 and 2021 was $ 103 million and $ 87 million, respectively, and are generally recognized as revenue within a one-year period. Additionally, we collect sales, use, occupancy and similar taxes at our hotels, which we present on a net basis (excluded from revenues) in our consolidated statements of comprehensive income (loss).
Share-based Compensation	Share-based Compensation We recognize the cost of services received in share-based payment transactions with employees and non-employee directors as services are received and recognize a corresponding increase in additional paid-in capital for equity classified awards. We account for any forfeitures when they occur. The measurement objective for these equity awards is the estimated fair value at the grant date of the equity instruments that we will be obligated to issue when employees have rendered the requisite service and satisfied any other conditions necessary to earn the right to benefit from the instruments. The compensation expense for an award classified as an equity instrument is recognized ratably over the requisite service period. The requisite service period is the period during which an employee is required to provide service in exchange for an award.
Income Taxes	Income Taxes We are a REIT for 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. To the extent we continue to remain qualified as a REIT, we generally will not be subject to U.S. federal income tax on taxable income generated by our REIT activities that we distribute annually to our stockholders. Accordingly, no provision for U.S. federal income taxes has been included in our accompanying consolidated financial statements for the years ended December 31, 2022, 2021 and 2020 related to our REIT activities other than taxes related to our sale of built-in gain property (representing property held by us with an excess of fair value over tax basis on January 4, 2017). We were subject to U.S. federal income tax on taxable sales of built-in gain property during the five-year period following the date of our spin-off, which ended in January 2022. In addition, we are subject to non-U.S. income tax on foreign held REIT activities and certain sales of foreign investments. Further, our taxable REIT subsidiaries (“TRSs”) are generally subject to U.S. federal, state and local, and foreign income taxes (as applicable). We account for income taxes using the asset and liability method. The objectives of accounting for income taxes are to recognize the amount of taxes payable or refundable for the current year, to recognize the deferred tax assets and liabilities that relate to tax consequences in future years, which result from differences between the respective tax basis of assets and liabilities and their financial reporting amounts, and to recognize tax loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which the respective temporary differences or operating loss or tax credit carry forwards are expected to be recovered or settled. The realization of deferred tax assets and tax loss and tax credit carry forwards is contingent upon the generation of future taxable income and other restrictions that may exist under the tax laws of the jurisdiction in which a deferred tax asset exists. Valuation allowances are provided to reduce such deferred tax assets to amounts more likely than not to be ultimately realized. We use a prescribed recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken in a tax return. For all income tax positions, we first determine whether it is “more-likely-than-not” that a tax position will be sustained upon examination, including resolution of any related appeals or litigation processes, based on the technical merits of the position. If it is determined that a position meets the more-likely-than-not recognition threshold, the benefit recognized in the financial statements is measured as the largest amount of benefit that is greater than 50 percent likely of being realized upon settlement.

Dispositions and Acquisitions (

Dispositions and Acquisitions (Tables)	12 Months Ended
	Dec. 31, 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 Hilton Garden Inn Chicago/Oakbrook Terrace Chicago, Illinois July 2022 Hilton Garden Inn LAX/El Segundo El Segundo, California September 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 Hotel Adagio, Autograph Collection San Francisco, California July 2021 Le Meridien San Francisco San Francisco, California August 2021

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and equipment were: December 31, 2022 2021 (in millions) Land $ 3,317 $ 3,333 Buildings and leasehold improvements 6,512 6,606 Furniture and equipment 994 1,005 Construction-in-progress 201 82 11,024 11,026 Accumulated depreciation and amortization ( 2,723 ) ( 2,515 ) $ 8,301 $ 8,511

Consolidated Variable Interes_2

Consolidated Variable Interest Entities ("VIEs") and Investments in Affiliates (Tables)	12 Months Ended
	Dec. 31, 2022
Consolidated Variable Interest Entities And Investments In Affiliates [Abstract]
Schedule of Assets and Liabilities Included in Consolidated Balance Sheets	Our consolidated balance sheets include the following assets and liabilities of these entities: December 31, 2022 2021 (in millions) Property and equipment, net $ 208 $ 209 Cash and cash equivalents 21 18 Restricted cash 2 6 Accounts receivable, net 4 3 Prepaid expenses 2 1 Debt 205 208 Accounts payable and accrued expenses 8 7 Due to hotel manager 2 1 Other liabilities 4 3
Schedule of Investments in Affiliates	Investments in affiliates were: December 31, Ownership % 2022 2021 (in millions) Hilton San Diego Bayfront (1) 25 % — 11 All others (4 and 5 hotels) (2) 20 % - 50 % 1 4 $ 1 $ 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 Acquisitions " for additional information. (2) In October 2022, the joint ventures that own and operate the DoubleTree Hotel Las Vegas Airport sold the hotel. Refer to Note 3: "Dispositions and Acquisitions " for additional information.

Goodwill and Intangibles (Table

Goodwill and Intangibles (Tables)	12 Months Ended
	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets	Intangible assets were: December 31, 2022 2021 (in millions) Air rights contract 45 45 Other 7 8 Accumulated amortization ( 9 ) ( 9 ) $ 43 $ 44
Schedule of Estimated Future Amortization Expense for Intangible Assets	As of December 31, 2022, we estimated our future amortization expense for our intangible assets to be: Year (in millions) 2023 $ 1 2024 1 2025 1 2026 1 2027 1 Thereafter 38 $ 43

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Schedule of Debt	Debt balances and associated interest rates as of December 31, 2022 were: Principal balance as of Interest Rate Maturity Date December 31, 2022 December 31, 2021 (in millions) SF Mortgage Loan 4.11 % November 2023 $ 725 $ 725 HHV Mortgage Loan 4.20 % November 2026 1,275 1,275 Other mortgage loans (1) Average rate of 4.35 % 2023 to 2027 (2) 469 503 Revolver (3) SOFR + 2.10 % December 2026 50 — 2019 Term Facility (4) N/A August 2024 — 78 2025 Senior Notes 7.50 % June 2025 650 650 2028 Senior Notes 5.88 % October 2028 725 725 2029 Senior Notes 4.88 % May 2029 750 750 4,644 4,706 Add: unamortized premium 3 4 Less: unamortized deferred financing costs and ( 30 ) ( 38 ) $ 4,617 $ 4,672 (1) In December 2022, we fully repaid the $ 26 million mortgage loan secured by the Hilton Checkers Los Angeles . (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 December 31, 2022, Park had not received notice from the lender. (3) As of December 31, 2022, we had approximately $ 900 million of available capacity under our revolving credit facility ("Revolver"). (4) In December 2022, the 2019 Term Facility was fully repaid.
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 December 31, 2022 were: Year (in millions) 2023 $ 863 2024 7 2025 657 2026 1,613 2027 30 Thereafter (1) 1,474 $ 4,644 (1) Assumes the exercise of all extensions that are exercisable solely at our option.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 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: December 31, 2022 December 31, 2021 Hierarchy Carrying Fair Value Carrying Fair Value (in millions) Liabilities: SF Mortgage Loan 3 $ 725 $ 692 $ 725 $ 733 HHV Mortgage Loan 3 1,275 1,142 1,275 1,282 Other mortgage loans 3 469 435 503 491 2019 Term Facility 3 — — 78 76 Revolver 3 50 50 — — 2025 Senior Notes 1 650 652 650 688 2028 Senior Notes 1 725 661 725 761 2029 Senior Notes 1 750 635 750 771

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
Schedule of Future Minimum Rental Payments for Operating Leases	The future minimum rent payments under our current leases, due in each of the next five years and thereafter as of December 31, 2022, were: Operating Year (in millions) 2023 $ 24 2024 24 2025 27 2026 18 2027 19 Thereafter 345 Total minimum rent payments 457 Less: imputed interest 223 Total operating lease liabilities $ 234
Schedule of Rent Expense and Supplemental Cash Flow and Non Cash Information	The components of rent expense, which are primarily included in other property-level expenses in our consolidated statements of comprehensive income (loss), as well as supplemental cash flow and non-cash information for all operating leases were: Year Ended Year Ended Year Ended December 31, 2022 December 31, 2021 December 31, 2020 (in millions) Operating lease expense $ 28 $ 29 $ 30 Variable lease expense 13 4 2 Operating cash flows for operating leases 29 30 28 Operating lease right-of-use asset reassessment (1) ( 4 ) — — (1) For the year ended December 31, 2022, amount represents a reduction to our right-of-use assets and lease liability due to a change in discount rate upon a lease remeasurement.

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Schedule of Domestic and Foreign Income Before Income Taxes	Our tax provision includes U.S. federal, state and foreign income taxes payable. The domestic and foreign components of income (loss) before income taxes were: Year Ended December 31, 2022 2021 2020 (in millions) U.S. income (loss) before tax $ 173 $ ( 450 ) $ ( 1,449 ) Foreign loss before tax — — ( 1 ) Income (loss) before income taxes $ 173 $ ( 450 ) $ ( 1,450 )
Components of (Benefit) Provision for Income Taxes	The components of our provisio n (benefit) for income taxes were: Year Ended December 31, 2022 2021 2020 (in millions) Current: U.S. Federal $ 1 $ 5 $ 1 State 1 ( 2 ) 3 Foreign — — 20 Total current 2 3 24 Deferred: U.S. Federal — ( 1 ) ( 29 ) State ( 2 ) — — Foreign — — ( 1 ) Total deferred ( 2 ) ( 1 ) ( 30 ) Total provision (benefit) for income taxes $ — $ 2 $ ( 6 )
Schedule of Effective Income Tax Rate Reconciliation	Reconciliations of our tax provision at the U.S. statutory rate to the pro vision (benefit) for income taxes were: Year Ended December 31, 2022 2021 2020 (in millions) Statutory U.S. federal income tax provision (benefit) $ 36 $ ( 94 ) $ ( 306 ) State income taxes, net of U.S. federal tax benefit 1 — 1 Foreign income tax expense, net — — 19 Change in deferred tax asset valuation allowance 4 ( 22 ) 71 Tax rate change — — ( 7 ) REIT income not subject to tax ( 39 ) 116 221 Derecognition and remeasurement of deferred taxes ( 2 ) ( 1 ) ( 35 ) Recognized built-in gain tax — — 29 Other — 3 1 Provision (benefit) for income taxes $ — $ 2 $ ( 6 )
Schedule of Composition of Net Deferred Tax Balances	Deferred income taxes represent the tax effect of the differences between the book and tax bases of assets and liabilities plus carryforward items. The composition of net deferred tax balances were as follows: December 31, 2022 2021 (in millions) Deferred income tax assets (1) $ — $ 1 Deferred income tax liabilities (2) ( 9 ) ( 9 ) Net deferred tax liability $ ( 9 ) $ ( 8 ) (1) Included within other assets in our consolidated balance sheets, net of valuation allowance.
Schedule of Net Deferred Tax Liability	The tax effects of the temporary differences and carryforwards that give rise to our net deferred tax liability were: December 31, 2022 2021 (in millions) Deferred tax assets: Net operating loss carryforwards $ 53 $ 51 Deferred income 4 5 Accrued compensation 2 2 Other 7 7 Total gross deferred tax assets 66 65 Less: valuation allowance ( 59 ) ( 55 ) Deferred tax assets 7 10 Deferred tax liabilities: Property and equipment ( 3 ) ( 4 ) Investments ( 9 ) ( 9 ) Accrued compensation ( 4 ) ( 5 ) Deferred tax liabilities ( 16 ) ( 18 ) Net deferred tax liability $ ( 9 ) $ ( 8 )
Schedule of Cash Distributions to Stockholders for Federal Income Tax Purposes	made no cash distributions to our stockholders in 2021. The cash distributions to stockholders in 2022 and 2020 are characterized, for U.S. federal income tax purposes, as follows: Year Ended December 31, 2022 2020 Common distributions (per share): Ordinary dividends $ 0.000000 $ 0.244571 Capital gain distributions (1) 0.280000 0.205429 (1) Capital gain distribution disclosure pursuant to Treasury Regulation §1.1061-6(c). The following additional information relates to the capital gain distributions for calendar year 2022 and 2020, as reported on Park Hotels & Resorts Inc. Form 1099-DIV, Box 2a. For purposes of Internal Revenue Code Section 1061, which is generally applicable to direct and indirect holders of “applicable partnership interests”: (i) the “One Year Amounts” are $ 0.000000 and $ 0.205429 per share, and (ii) the “Three Year Amounts” are $ 0.000000 and $ 0.205429 per share, with respect to the 2022 and 2020 capital gain distributions, respectively.

Share-Based Compensation (Table

Share-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 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 years ended December 31, 2022, 2021 and 2020: Number of Shares Weighted-Average Unvested at January 1, 2020 557,245 $ 29.10 Granted 672,689 18.18 Vested ( 333,685 ) 25.67 Forfeited ( 61,991 ) 28.97 Unvested at December 31, 2020 834,258 21.68 Granted 434,486 20.52 Vested ( 456,357 ) 19.08 Forfeited ( 23,065 ) 22.45 Unvested at December 31, 2021 789,322 22.52 Granted 471,614 18.16 Vested ( 378,605 ) 22.51 Forfeited ( 38,485 ) 20.28 Unvested at December 31, 2022 843,846 $ 20.19
Schedule of Performance Stock Units ("PSUs")	The following table provides a summary of PSUs for the years ended December 31, 2022, 2021 and 2020: Number of Shares Weighted-Average Unvested at January 1, 2020 574,797 $ 32.82 Granted 1,641,117 14.39 Vested ( 973,891 ) 20.00 Forfeited ( 163,468 ) 17.34 Unvested at December 31, 2020 1,078,555 18.70 Granted 327,416 27.16 Vested ( 428,255 ) 16.33 Forfeited ( 5,642 ) 20.29 Unvested at December 31, 2021 972,074 22.59 Granted 393,225 21.93 Forfeited ( 166,974 ) 34.47 Unvested at December 31, 2022 1,198,325 $ 20.71
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: Year Ended December 31, 2022 2021 2020 Expected volatility (1) 57.5 % 60.0 % 22.0 % - 65.0 % Dividend yield (2) — — — Risk-free rate 1.7 % 0.2 % - 0.3 % 0.3 % - 1.5 % Expected term 3 years 3 years 1 - 4 years (1) The weighted average expected volatility for the years ended December 31, 2022, 2021 and 2020 was 57.5 % , 60.0 % and 46.2 % , respectively. (2) 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)	12 Months Ended
	Dec. 31, 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”): Year Ended December 31, 2022 2021 2020 (in millions, except per share amounts) Numerator: Net income (loss) attributable to stockholders, net of earnings $ 162 $ ( 459 ) $ ( 1,440 ) Denominator: Weighted average shares outstanding – basic 228 $ 236 $ 236 Unvested restricted shares — $ — $ — Weighted average shares outstanding – diluted 228 $ 236 $ 236 Earnings (loss) per share – Basic (1) $ 0.71 $ ( 1.95 ) $ ( 6.11 ) Earnings (loss) per share – Diluted (1) $ 0.71 $ ( 1.95 ) $ ( 6.11 ) (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)	12 Months Ended
	Dec. 31, 2022
Segment Reporting [Abstract]
Reconciliation of Revenues from Consolidated Hotels to Condensed Combined Consolidated Amounts and Net income (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: Year Ended December 31, 2022 2021 2020 (in millions) Revenues: Total consolidated hotel revenue $ 2,426 $ 1,311 $ 823 Other revenues 75 51 29 Total revenues $ 2,501 $ 1,362 $ 852 Net income (loss) $ 173 $ ( 452 ) $ ( 1,444 ) Other revenues ( 75 ) ( 51 ) ( 29 ) Casualty and impairment loss, net 6 9 696 Depreciation and amortization expense 269 281 298 Corporate general and administrative expense (1) 63 62 61 Acquisition costs — — 10 Other operating expenses 72 49 36 (Gain) loss on sales of assets, net ( 13 ) 5 ( 62 ) Interest income ( 13 ) ( 1 ) ( 2 ) Interest expense 247 258 213 Equity in (earnings) losses from investments in affiliates ( 15 ) 7 22 Income tax expense (benefit) — 2 ( 6 ) Other (gain) loss, net ( 96 ) 7 15 Severance expense — — 33 Other items 12 1 12 Hotel Adjusted EBITDA $ 630 $ 177 $ ( 147 ) (1) Excludes severance expense .
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: December 31, 2022 2021 (in millions) Consolidated hotels $ 9,726 $ 9,724 All other 5 19 Total assets $ 9,731 $ 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

Basis of Presentation and Sum_3

Basis of Presentation and Summary of Significant Accounting Policies - Additional Information (Detail)	3 Months Ended	12 Months Ended
	Mar. 31, 2020 USD ($)	Dec. 31, 2022 USD ($) Hotel	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Goodwill impairment loss	$ 607,000,000
Number of reporting units to which goodwill has allocated | Hotel		2
Advance deposit balance		$ 103,000,000	$ 87,000,000
Provision for U.S federal income taxes		$ 0	2,000,000	$ (6,000,000)
Income tax benefit recognized in financial statements measured as largest amount of benefit that is greater than percentage value of being realized upon settlement		50%
REIT [Member] | U.S. Federal Tax [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Provision for U.S federal income taxes		$ 0	$ 0	$ 0
Impairment Loss And Casualty Gain Loss, Net [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Goodwill impairment loss	$ 607,000,000
Minimum [Member] | Consolidated Variable Interest Entities [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Percentage of ownership for consolidate entity		50%
Building and Improvements [Member] | Minimum [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Property and equipment, estimated useful life		8 years
Building and Improvements [Member] | Maximum [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Property and equipment, estimated useful life		40 years
Furniture and Equipment [Member] | Minimum [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Property and equipment, estimated useful life		3 years
Furniture and Equipment [Member] | Maximum [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Property and equipment, estimated useful life		8 years
Computer Equipment And Acquired Software [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Property and equipment, estimated useful life		3 years

Dispositions and Acquisitions -

Dispositions and Acquisitions - Additional Information (Detail) $ in Millions	1 Months Ended	6 Months Ended	12 Months Ended
	Feb. 29, 2020 USD ($)	Jun. 30, 2022 USD ($)	Dec. 31, 2022 USD ($) Hotel	Dec. 31, 2021 USD ($) Hotel	Dec. 31, 2020 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of hotel portfolio properties sold | Hotel			5	5
Gross proceeds on sale of hotel portfolio properties			$ 149	$ 477
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal, Statement of Income or Comprehensive Income [Extensible Enumeration]			Costs and Expenses	Costs and Expenses
Net gain (loss) on selling cost of hotel portfolio properties			$ 15	$ 5
Acquisition costs			$ 0	0	$ 10
Gain (loss) on sale of assets and asset impairment charges				$ (5)
DoubleTree Hotel Las Vegas Airport [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gross proceeds on sale of hotel portfolio properties		$ 22
Pro Rata Share Before Customary Closing Adjustments Amount		11
Equity Method Investment, Realized Gain (Loss) on Disposal		9
Chesapeake Lodging Trust [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Acquisition costs					$ 9
Hilton Sao Paulo Morumbi [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Reclassification of currency translation adjustment from accumulated other comprehensive loss to earnings on disposition of hotel portfolio properties	$ 7
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, Including Discontinued Operation, Interest Expense		55
Net gain (loss) on selling cost of hotel portfolio properties		$ 92
Embassy Suites Washington DC Georgetown [Member] | Hilton Sao Paulo Morumbi [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gross proceeds on sale of hotel portfolio properties	208
Net gain (loss) on selling cost of hotel portfolio properties	$ 63

Dispositions and Acquisitions_2

Dispositions and Acquisitions - Summary of Hotel Portfolio Properties Sold (Detail)		12 Months Ended
		Dec. 31, 2022	Dec. 31, 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
Hotel Adagio, Autograph Collection [Member]
Business Acquisition [Line Items]
Location			San Francisco, California
Month Sold			2021-07
Le Meridien San Francisco [Member]
Business Acquisition [Line Items]
Location			San Francisco, California
Month Sold			2021-08
Hampton Inn & Suites Memphis-Shady Grove [Member]
Business Acquisition [Line Items]
Location		Memphis, Tennessee
Month Sold		2022-04
Hilton Chicago [Member]
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
Hilton Garden Inn Chicago/Oak Brook [Member]
Business Acquisition [Line Items]
Location		Chicago, Illinois
Month Sold		2022-07
Hilton Garden Inn LAX/El Segundo [Member]
Business Acquisition [Line Items]
Location		El Segundo, California
Month Sold		2022-09
[1] Sold as a portfolio in the same transaction.

Property and Equipment - Schedu

Property and Equipment - Schedule of Property and Equipment (Detail) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Land	$ 3,317	$ 3,333
Buildings and leasehold improvements	6,512	6,606
Furniture and equipment	994	1,005
Construction-in-progress	201	82
Property and equipment, gross	11,024	11,026
Accumulated depreciation and amortization	(2,723)	(2,515)
Property and equipment, net	$ 8,301	$ 8,511

Property and Equipment - Additi

Property and Equipment - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Depreciation	$ 268	$ 281	$ 297
Gain (loss) on sale of assets and asset impairment charges		(5)
Impairment, Long-Lived Asset, Held-for-Use, Statement of Income or Comprehensive Income [Extensible Enumeration]			Costs and Expenses
Impairment Loss, Property and equipment			$ 90
Other gain (loss), net	$ 96	$ (7)	$ (15)

Consolidated Variable Interes_3

Consolidated Variable Interest Entities ("VIEs") and Investments in Affiliates - Additional Information (Detail) $ in Millions	Dec. 31, 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 | $	$ 721	$ 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	Dec. 31, 2022	Dec. 31, 2021
Variable Interest Entity [Line Items]
Property and equipment, net	$ 8,301	$ 8,511
Cash and cash equivalents	906	688
Restricted cash	33	75
Accounts receivable, net	129	96
Prepaid expenses	58	35
Other assets	46	69
Debt	4,617	4,672
Accounts payable and accrued expenses	220	156
Due to hotel manager	141	111
Other liabilities	228	174
Consolidated VIEs [Member]
Variable Interest Entity [Line Items]
Property and equipment, net	208	209
Cash and cash equivalents	21	18
Restricted cash	2	6
Accounts receivable, net	4	3
Prepaid expenses	2	1
Debt	205	208
Accounts payable and accrued expenses	8	7
Due to hotel manager	2	1
Other liabilities	$ 4	$ 3

Consolidated Variable Interes_5

Consolidated Variable Interest Entities ("VIEs") and Investments in Affiliates - Schedule of Investments in Affiliates (Detail) - USD ($) $ in Millions		Dec. 31, 2022	Dec. 31, 2021
Schedule Of Equity Method Investments [Line Items]
Investments in affiliates		$ 1	$ 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 (4 and 5 hotels) [Member]
Schedule Of Equity Method Investments [Line Items]
Investments in affiliates	[2]	$ 1	$ 4
All others (4 and 5 hotels) [Member] | Minimum [Member]
Schedule Of Equity Method Investments [Line Items]
Ownership Percentage	[2]	20%
All others (4 and 5 hotels) [Member] | Maximum [Member]
Schedule Of Equity Method Investments [Line Items]
Ownership Percentage	[2]	50%
[1] (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 Acquisitions " for additional information. (2) In October 2022, the joint ventures that own and operate the DoubleTree Hotel Las Vegas Airport sold the hotel. Refer to Note 3: "Dispositions and Acquisitions " for additional information.

Goodwill and Intangibles - Addi

Goodwill and Intangibles - Additional Information (Detail) $ in Millions	3 Months Ended
	Mar. 31, 2020 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill impairment loss	$ 607

Goodwill and Intangibles - Sche

Goodwill and Intangibles - Schedule of Intangible assets (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Air rights contract	$ 45	$ 45
Other	7	8
Accumulated amortization	(9)	(9)
Finite-Lived Intangible Assets, Net, Total	$ 43	$ 44

Goodwill and Intangibles - Sc_2

Goodwill and Intangibles - Schedule of Estimated Future Amortization Expense for Intangible Assets (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
2023	$ 1
2024	1
2025	1
2026	1
2027	1
Thereafter	38
Finite-Lived Intangible Assets, Net, Total	$ 43	$ 44

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Detail) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Oct. 31, 2016
Debt Instrument [Line Items]
Debt and financing lease obligations, gross		$ 4,644	$ 4,706
Add: unamortized premium		3	4
Less: unamortized deferred financing costs and discount		(30)	(38)
Debt		4,617	4,672
SF Mortgage Loan [Member]
Debt Instrument [Line Items]
Debt, gross		$ 725	725	$ 725
Debt instrument, interest rate, stated percentage		4.11%
Maturity Date		2023-11
HHV Mortgage Loan [Member]
Debt Instrument [Line Items]
Debt, gross		$ 1,275	1,275	$ 1,275
Debt instrument, interest rate, stated percentage		4.20%
Maturity Date		2026-11
Mortgage Loans [Member]
Debt Instrument [Line Items]
Debt, gross	[1]	$ 469	503
Debt instrument, weighted average interest rate	[1]	4.35%
Voluntary prepayment maturity date, start year	[1]	2023
Voluntary prepayment maturity date, end year	[1],[2]	2027
2025 Senior Notes [Member]
Debt Instrument [Line Items]
Senior Secured Notes		$ 650	650
Debt instrument, interest rate, stated percentage		7.50%
Maturity Date		2025-06
2028 Senior Notes [Member]
Debt Instrument [Line Items]
Senior Secured Notes		$ 725	725
Debt instrument, interest rate, stated percentage		5.88%
Maturity Date		2028-10
2029 Senior Notes [Member]
Debt Instrument [Line Items]
Senior Secured Notes		$ 750	750
Debt instrument, interest rate, stated percentage		4.88%
Maturity Date		2029-05
2019 Term Facility [Member]
Debt Instrument [Line Items]
Debt, gross	[3]	$ 0	78
Maturity Date	[3]	2024-08
Revolver [Member]
Debt Instrument [Line Items]
Debt, gross	[4]	$ 50	$ 0
Maturity Date	[4]	2026-12
Revolver [Member] | SOFR [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	[4]	2.10%
[1] (1) In December 2022, we fully repaid the $ 26 million mortgage loan secured by the Hilton Checkers Los Angeles (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 December 31, 2022, Park had not received notice from the lender. (4) In December 2022, the 2019 Term Facility was fully repaid. (3) As of December 31, 2022, we had approximately $ 900 million of available capacity under our revolving credit facility ("Revolver").

Debt - Schedule of Debt (Parent

Debt - Schedule of Debt (Parenthetical) (Detail) $ in Millions	1 Months Ended	12 Months Ended
	Dec. 31, 2022 USD ($)	Dec. 31, 2022 USD ($)
Debt Instrument [Line Items]
Real Estate and Accumulated Depreciation, repayment of mortgage loan	$ 2,469	$ 2,469
Revolver [Member]
Debt Instrument [Line Items]
Available credit capacity	900	$ 900
Hilton Checkers Los Angeles [Member]
Debt Instrument [Line Items]
Repayments of long-term debt	$ 26
Hilton Denver City Center Mortgage Loan [Member]
Debt Instrument [Line Items]
Maturity Date, end year		2042

Debt - Additional Information (

Debt - Additional Information (Detail)

1 Months Ended

12 Months Ended

Dec. 31, 2019 USD ($)

Sep. 18, 2019 USD ($)

Dec. 31, 2022 USD ($) Entity

Sep. 30, 2021 USD ($)

Sep. 30, 2020 USD ($)

Mar. 31, 2020 USD ($)

Aug. 31, 2019 USD ($)

Dec. 31, 2016 USD ($)

Dec. 31, 2022 USD ($) Entity

Dec. 31, 2021 USD ($)

Dec. 31, 2020 USD ($)

May 31, 2021 USD ($)

Oct. 31, 2016 USD ($)

Debt Instrument [Line Items]

Number of consolidated VIEs | Entity

3

3

Restricted cash

$ 33,000,000

$ 33,000,000

$ 75,000,000

Proceeds from issuance of senior secured notes

78,000,000

1,193,000,000

$ 1,099,000,000

Repayment of loan secured

$ 64,000,000

20,000,000

6,000,000

Debt instrument, covenant description

In December 2022, we amended and restated the Original Credit Agreement ("Credit Agreement"). The Credit Agreement provides aggregate commitments of $950 million for the Revolver, which can be increased by up to $500 million with lender approval, and matures on December 1, 2026, with the ability to extend its maturity by one year as (i) a one-year extension or (ii) two six-month extensions. Borrowings under the Revolver bear interest based upon the secured overnight financing rate ("SOFR") plus a credit spread adjustment of 0.1%, plus an applicable margin based on our leverage ratio. We incur an unused facility fee on the Revolver of between 0.2% and 0.3%, based on our level of usage.

Borrowings from credit facilities

$ 50,000,000

0

1,000,000,000

Proceeds from issuance of Senior Notes

$ 0

750,000,000

1,376,000,000

Derivative fixed interest rate

1.86%

1.86%

Derivative maturity date

Apr. 21, 2022

Derivative notional amount

$ 225,000,000

$ 225,000,000

Wells Fargo Bank [Member]

Debt Instrument [Line Items]

Line of credit facility, maximum borrowing capacity

$ 1,075,000,000

Line of credit, maximum borrowing capacity

$ 50,000,000

Maximum [Member] | Wells Fargo Bank [Member]

Debt Instrument [Line Items]

Unused facility fee on the revolver

0.30%

Minimum [Member] | Wells Fargo Bank [Member]

Debt Instrument [Line Items]

Unused facility fee on the revolver

0.20%

Revolver [Member]

Debt Instrument [Line Items]

Debt issuance cost

9,000,000

9,000,000

Debt, gross

[1]

50,000,000

50,000,000

0

Line of credit facility, increase to borrowing capacity

$ 500,000,000

$ 500,000,000

Expiration period of credit agreement

Dec. 01, 2026

Period of credit agreement

1 year

Description of period of credit agreement

two six-month extensions

Aggregate commitments

$ 950,000,000

$ 901,000,000

$ 950,000,000

Line of credit facility, remaining borrowing capacity

$ 174,000,000

Debt instrument, maturity date start year

Dec. 31, 2021

Debt instrument, maturity date end year

Dec. 31, 2023

Revolver [Member] | Standby Letters of Credit [Member]

Debt Instrument [Line Items]

Line of credit facility, outstanding amount

$ 4,000,000

$ 4,000,000

Revolver [Member] | SOFR [Member]

Debt Instrument [Line Items]

Debt instrument, interest rate, stated percentage

[1]

2.10%

2.10%

Credit spread adjustment

0.10%

Revolver [Member] | COVID-19 [Member]

Debt Instrument [Line Items]

Borrowings from credit facilities

$ 1,000,000,000

Revolver [Member] | Wells Fargo Bank [Member]

Debt Instrument [Line Items]

Line of credit facility, description

The facility included a $1 billion Revolver, which was increased to $1.075 billion in September 2020, and a term loan due December 2021 ("2016 Term Loan")

Amount available for borrowing

$ 1,000,000,000

2019 Term Facility [Member]

Debt Instrument [Line Items]

Proceeds from issuance of senior secured notes

$ 50,000,000

592,000,000

Repayment of loan secured

78,000,000

Debt instrument maturity date

Aug. 31, 2024

Debt, gross

[2]

$ 0

0

78,000,000

Line of credit facility, maximum borrowing capacity

$ (100,000,000)

Line of credit, maximum borrowing capacity

$ 850,000,000

$ 950,000,000

Repayments of long-term debt

$ 180,000,000

Notional amount outstanding

$ 78,000,000

78,000,000

CMBS and mortgage loans [Member]

Debt Instrument [Line Items]

Restricted cash

$ 6,000,000

$ 6,000,000

60,000,000

2029 Senior Notes [Member]

Debt Instrument [Line Items]

Debt instrument, interest rate, stated percentage

4.88%

4.88%

Proceeds from issuance of Senior Notes

750,000,000

2029 Senior Notes [Member] | PK Domestic and PK Finance [Member]

Debt Instrument [Line Items]

Senior secured notes issued

$ 750,000,000

Debt instrument, interest rate, stated percentage

4.875%

4.875%

Payment, description

The 2029 Senior Notes bear interest at a rate of 4.875% per annum, payable semi-annually in arrears on May 15 and November 15 of each year, beginning November 15, 2021.

Debt instrument maturity date

May 15, 2029

Debt issuance cost

13,000,000

Debt instrument, redemption, description

We may redeem the 2029 Senior Notes at any time prior to May 15, 2024, in whole or in part, at a redemption price equal to 100% of the principal amount thereof plus accrued and unpaid interest, if any, to the redemption date plus a make-whole premium. On or after May 15, 2024, we may redeem the 2029 Senior Notes, in whole or in part, at the applicable redemption prices set forth in the indenture. On or after May 15, 2026, we may redeem the 2029 Senior Notes at 100% of the principal amount, plus accrued and unpaid interest, if any, to, but excluding, the redemption date. In addition, before May 15, 2024, we may redeem up to 40% of the 2029 Senior Notes with the net cash proceeds from certain equity offerings at a redemption price of 104.875% of the principal amount redeemed.

Redemption price percentage of principal amount

100%

2029 Senior Notes [Member] | PK Domestic and PK Finance [Member] | Debt Instrument, Redemption Period Before May 15, 2024 to June 1, 2022 [Member]

Debt Instrument [Line Items]

Redemption price percentage

104.875%

Redemption period, start date

May 15, 2024

2029 Senior Notes [Member] | PK Domestic and PK Finance [Member] | Debt Instrument, Redemption Period Before May 15, 2024 to June 1, 2022 [Member] | Maximum [Member]

Debt Instrument [Line Items]

Redemption percentage of senior secured notes

40%

2029 Senior Notes [Member] | PK Domestic and PK Finance [Member] | Debt Instrument, Redemption Period After May 15, 2026 to June 1, 2024 [Member]

Debt Instrument [Line Items]

Redemption price percentage of principal amount

100%

Redemption period, start date

May 15, 2026

2029 Senior Notes [Member] | Revolver [Member] | PK Domestic and PK Finance [Member]

Debt Instrument [Line Items]

Proceeds from issuance of senior secured notes

$ 564,000,000

2029 Senior Notes [Member] | 2019 Term Facility [Member] | PK Domestic and PK Finance [Member]

Debt Instrument [Line Items]

Repayment of loan secured

$ 173,000,000

2028 Senior Notes [Member]

Debt Instrument [Line Items]

Debt instrument, interest rate, stated percentage

5.88%

5.88%

Proceeds from issuance of Senior Notes

$ 725,000,000

2028 Senior Notes [Member] | PK Domestic and PK Finance [Member]

Debt Instrument [Line Items]

Senior secured notes issued

$ 725,000,000

$ 725,000,000

Debt instrument, interest rate, stated percentage

5.875%

5.875%

Payment, description

The 2028 Senior Notes bear interest at a rate of 5.875% per annum, payable semi-annually in arrears on April 1 and October 1 of each year beginning April 1, 2021.

Debt issuance cost

13,000,000

Debt instrument, redemption, description

We may redeem the 2028 Senior Notes at any time prior to October 1, 2023, in whole or in part, at a redemption price equal to 100% of the principal amount thereof plus accrued and unpaid interest, if any, to the redemption date plus a make-whole premium. On or after October 1, 2023, we may redeem the 2028 Senior Notes, in whole or in part, at the applicable redemption prices set forth in the indenture. On or after October 1, 2025, we may redeem the 2028 Senior Notes at 100% of the principal amount, plus accrued and unpaid interest, if any, to, but excluding, the redemption date. In addition, before October 1, 2023, we may redeem up to 40% of the 2028 Senior Notes with the net cash proceeds from certain equity offerings at a redemption price of 105.875% of the principal amount redeemed.

Redemption price percentage of principal amount

100%

2028 Senior Notes [Member] | PK Domestic and PK Finance [Member] | Maximum [Member]

Debt Instrument [Line Items]

Redemption percentage of senior secured notes

40%

2028 Senior Notes [Member] | PK Domestic and PK Finance [Member] | Debt Instrument, Redemption Period Before October 1,2023 [Member]

Debt Instrument [Line Items]

Redemption price percentage

105.875%

Redemption period, start date

Oct. 01, 2023

2028 Senior Notes [Member] | PK Domestic and PK Finance [Member] | Debt Instrument, Redemption Period After October 1,2025 [Member]

Debt Instrument [Line Items]

Redemption price percentage of principal amount

100%

Redemption period, start date

Oct. 01, 2025

2028 Senior Notes [Member] | Revolver [Member] | PK Domestic and PK Finance [Member]

Debt Instrument [Line Items]

Proceeds from issuance of senior secured notes

80,000,000

Senior Secured Notes [Member] | PK Domestic and PK Finance [Member]

Debt Instrument [Line Items]

Debt instrument, covenant description

These covenants are subject to a number of exceptions and qualifications, including the ability to declare or pay any cash dividend or make any cash distribution to us to the extent necessary for us to fund a dividend or distribution by us that we believe is necessary to maintain our status as a REIT or to avoid payment of any tax for any calendar year that could be avoided by reason of such distribution, and the ability to make certain restricted payments not to exceed $100 million, plus 95% of our cumulative Funds From Operations (as defined in the indentures), plus the aggregate net proceeds from (i) the sale of certain equity interests in, (ii) capital contributions to, and (iii) certain convertible indebtedness of the Operating Company.

Maximum aggregate payment permitted for restricted transactions

$ 100,000,000

$ 100,000,000

Maximum FFO permitted for restricted transactions

95%

Minimum unencumbered assets to total indebtedness

150%

Senior Secured Notes [Member] | Revolver [Member] | COVID-19 [Member]

Debt Instrument [Line Items]

Proceeds from issuance of senior secured notes

$ 2,100,000,000

SF Mortgage Loan [Member]

Debt Instrument [Line Items]

Debt instrument, interest rate, stated percentage

4.11%

4.11%

Debt, gross

$ 725,000,000

$ 725,000,000

725,000,000

$ 725,000,000

HHV Mortgage Loan [Member]

Debt Instrument [Line Items]

Debt instrument, interest rate, stated percentage

4.20%

4.20%

Debt, gross

$ 1,275,000,000

$ 1,275,000,000

$ 1,275,000,000

$ 1,275,000,000

HHV Mortgage Loan And Hilton Denver City Center Secured Mortgage Loan [Member]

Debt Instrument [Line Items]

Debt instrument, collateral amount

$ 92,000,000

$ 92,000,000

2025 Senior Notes [Member]

Debt Instrument [Line Items]

Debt instrument, interest rate, stated percentage

7.50%

7.50%

2025 Senior Notes [Member] | PK Domestic and PK Finance [Member]

Debt Instrument [Line Items]

Senior secured notes issued

$ 650,000,000

$ 650,000,000

Debt instrument, interest rate, stated percentage

7.50%

7.50%

Payment, description

The 2025 Senior Notes bear interest at a rate of 7.500% per annum, payable semi-annually in arrears on June 1 and December 1 of each year, beginning December 1, 2020.

Debt instrument maturity date

Jun. 01, 2025

Debt issuance cost

$ 13,000,000

Debt instrument, redemption, description

We may redeem the 2025 Senior Notes, in whole or in part, at the applicable redemption prices set forth in the indenture. On or after June 1, 2024, we may redeem the 2025 Senior Notes at 100% of the principal amount, plus accrued and unpaid interest, if any, to, but excluding, the redemption date.

2025 Senior Notes [Member] | PK Domestic and PK Finance [Member] | Debt Instrument, Redemption Period After June 1,2024 [Member]

Debt Instrument [Line Items]

Redemption price percentage

100%

Redemption period, start date

Jun. 01, 2024

2025 Senior Notes [Member] | Revolver [Member] | PK Domestic and PK Finance [Member]

Debt Instrument [Line Items]

Proceeds from issuance of senior secured notes

$ 219,000,000

2025 Senior Notes [Member] | 2016 Term Loan [Member] | PK Domestic and PK Finance [Member]

Debt Instrument [Line Items]

Repayment of loan secured

$ 69,000,000

[1] (3) As of December 31, 2022, we had approximately $ 900 million of available capacity under our revolving credit facility ("Revolver"). (4) In December 2022, the 2019 Term Facility was fully repaid.

Debt - Debt Maturities, Assumin

Debt - Debt Maturities, Assuming the Exercise of all Extensions that are Exercisable Solely at our Option (Detail) $ in Millions	Dec. 31, 2022 USD ($)
Debt Disclosure [Abstract]
2023	$ 863
2024	7
2025	657
2026	1,613
2027	30
Thereafter	1,474	[1]
Debt and capital lease obligations, gross	$ 4,644
[1] (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	Dec. 31, 2022	Dec. 31, 2021
Carrying amount [Member] | SF CMBS Loan [Member] | Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loan	$ 725	$ 725
Carrying amount [Member] | HHV CMBS 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	469	503
Carrying amount [Member] | 2019 Term Facility [Member] | Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loan	0	78
Carrying amount [Member] | Revolver [Member] | Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loan	50	0
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 CMBS Loan [Member] | Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loan	692	733
Fair Value [Member] | HHV CMBS Loan [Member] | Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loan	1,142	1,282
Fair Value [Member] | Mortgage Loans [Member] | Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loan	435	491
Fair Value [Member] | 2019 Term Facility [Member] | Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loan	0	76
Fair Value [Member] | Revolver [Member] | Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loan	50	0
Fair Value [Member] | 2025 Senior Secured Notes [Member] | Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loan	652	688
Fair Value [Member] | 2028 Senior Secured Notes [Member] | Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loan	661	761
Fair Value [Member] | 2029 Senior Secured Notes [Member] | Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loan	$ 635	$ 771

Leases - Additional Information

Leases - Additional Information (Details) - Property	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Number of consolidated properties under ground leases	14
Leases ending expiration date	2083
Date majority of leases expire	2032
Weighted average remaining operating lease term	26 years	26 years 10 months 24 days
Weighted average discount rate used to determine operating lease liabilities	5.60%	5.30%

Leases - Schedule of Future Min

Leases - Schedule of Future Minimum Rental Payments for Operating Leases (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
2023	$ 24
2024	24
2025	27
2026	18
2027	19
Thereafter	345
Total minimum rent payments	457
Less: imputed interest	223
Total operating lease liabilities	$ 234	$ 227

Leases - Schedule of Rent Expen

Leases - Schedule of Rent Expense and Supplemental Cash Flow and Non Cash Information (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Operating lease expense		$ 28	$ 29	$ 30
Variable lease expense		13	4	2
Operating cash flows for operating leases		29	30	28
Operating lease right-of-use asset reassessment	[1]	$ (4)	$ 0	$ 0
[1] (1) For the year ended December 31, 2022, amount represents a reduction to our right-of-use assets and lease liability due to a change in discount rate upon a lease remeasurement.

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Taxes [Line Items]
Provision for U.S federal income taxes	$ 0	$ 2,000,000	$ (6,000,000)
Net operating loss carryforwards	53,000,000	51,000,000
U.S. Federal Tax [Member] | REIT [Member]
Income Taxes [Line Items]
Provision for U.S federal income taxes	0	$ 0	$ 0
Federal Member
Income Taxes [Line Items]
Net operating loss carryforwards	696,000,000
State Member
Income Taxes [Line Items]
Net operating loss carryforwards	$ 1,100,000,000
Net operating loss carry forwards expiration year	2025
Federal And State Member
Income Taxes [Line Items]
Net operating loss carryforwards	$ 1,800,000,000

Income Taxes - Schedule of Dome

Income Taxes - Schedule of Domestic and Foreign Income Before Income Taxes (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
U.S. income (loss) before tax	$ 173	$ (450)	$ (1,449)
Foreign loss before tax	0	0	(1)
Income (loss) before income taxes	$ 173	$ (450)	$ (1,450)

Income Taxes - Components of (B

Income Taxes - Components of (Benefit) Provision for Income Taxes (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Current:
U.S. Federal	$ 1	$ 5	$ 1
State	1	(2)	3
Foreign	0	0	20
Total current	2	3	24
Deferred:
U.S. Federal	0	(1)	(29)
State	(2)	0	0
Foreign	0	0	(1)
Total deferred	(2)	(1)	(30)
Total provision (benefit) for income taxes	$ 0	$ 2	$ (6)

Income Taxes - Effective Income

Income Taxes - Effective Income Tax Rate Reconciliation (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Statutory U.S. federal income tax provision (benefit)	$ 36	$ (94)	$ (306)
State income taxes, net of U.S. federal tax benefit	1	0	1
Foreign income tax expense, net	0	0	19
Change in deferred tax asset valuation allowance	4	(22)	71
Tax rate change	0	0	(7)
REIT income not subject to tax	(39)	116	221
Derecognition and remeasurement of deferred taxes	(2)	(1)	(35)
Recognized built-in gain tax	0	0	29
Other	0	3	1
Total provision (benefit) for income taxes	$ 0	$ 2	$ (6)

Income Taxes - Schedule of Comp

Income Taxes - Schedule of Composition of Net Deferred Tax Balances (Detail) - USD ($) $ in Millions		Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Deferred income tax assets	[1]	$ 0	$ 1
Deferred income tax liabilities	[2]	(9)	(9)
Net deferred tax liability		$ (9)	$ (8)
[1] Included within other assets in our consolidated balance sheets, net of valuation allowance. Included within other liabilities in our consolidated balance sheets.

Income Taxes - Schedule of Net

Income Taxes - Schedule of Net Deferred Tax Liability (Detail) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Deferred tax assets:
Net operating loss carryforwards	$ 53	$ 51
Deferred income	4	5
Accrued compensation	2	2
Other	7	7
Total gross deferred tax assets	66	65
Less: valuation allowance	(59)	(55)
Deferred tax assets	7	10
Deferred tax liabilities:
Property and equipment	(3)	(4)
Investments	(9)	(9)
Accrued compensation	(4)	(5)
Deferred tax liabilities	(16)	(18)
Net deferred tax liability	$ (9)	$ (8)

Income Taxes - Schedule of Cash

Income Taxes - Schedule of Cash Distributions to Stockholders for Federal Income Tax Purposes (Detail) - Common Stock [Member] - $ / shares		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2020
Common distributions (per share):
Ordinary dividends		$ 0	$ 0.244571
Capital gain distributions	[1]	$ 0.280000	$ 0.205429
[1] Capital gain distribution disclosure pursuant to Treasury Regulation §1.1061-6(c). The following additional information relates to the capital gain distributions for calendar year 2022 and 2020, as reported on Park Hotels & Resorts Inc. Form 1099-DIV, Box 2a. For purposes of Internal Revenue Code Section 1061, which is generally applicable to direct and indirect holders of “applicable partnership interests”: (i) the “One Year Amounts” are $ 0.000000 and $ 0.205429 per share, and (ii) the “Three Year Amounts” are $ 0.000000 and $ 0.205429 per share, with respect to the 2022 and 2020 capital gain distributions, respectively.

Income Taxes - Schedule of Ca_2

Income Taxes - Schedule of Cash Distributions to Stockholders for Federal Income Tax Purposes (Parenthetical) (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2020
One Year Amounts [Member]
Income Taxes [Line Items]
Capital gain distributions	$ 0	$ 0.205429
Three Year Amounts [Member]
Income Taxes [Line Items]
Capital gain distributions	$ 0	$ 0.205429

Share-Based Compensation - Addi

Share-Based Compensation - Additional Information (Detail) $ / shares in Units, $ in Millions	1 Months Ended	9 Months Ended	12 Months Ended
	Nov. 30, 2020 d $ / shares	Sep. 30, 2021	Dec. 31, 2022 USD ($) Target shares	Dec. 31, 2021 USD ($) Target shares	Dec. 31, 2020 USD ($)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock, authorized shares			6,000,000,000	6,000,000,000
Compensation expense | $			$ 17	$ 19	$ 20
Unrecognized compensation costs related to unvested awards | $			$ 17
Unrecognized compensation costs related to unvested awards, weighted-average period			1 year 4 months 24 days
Total fair value of shares vested | $			$ 7	$ 18	$ 27
2017 Employee Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares of common stock reserved for future issuance			2,312,448
2017 Employee Plan [Member] | Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock, authorized shares			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			395,081
2017 Director Plan [Member] | Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock, authorized shares			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
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] - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Shares, Beginning balance	789,322	834,258	557,245
Number of Shares, Granted	471,614	434,486	672,689
Number of Shares, Vested	(378,605)	(456,357)	(333,685)
Number of Shares, Forfeited	(38,485)	(23,065)	(61,991)
Number of Shares, Ending balance	843,846	789,322	834,258
Weighted Average Grant Date Fair Value, Beginning balance	$ 22.52	$ 21.68	$ 29.10
Weighted Average Grant Date Fair Value, Granted	18.16	20.52	18.18
Weighted Average Grant Date Fair Value, Vested	22.51	19.08	25.67
Weighted Average Grant Date Fair Value, Forfeited	20.28	22.45	28.97
Weighted Average Grant Date Fair Value, Ending balance	$ 20.19	$ 22.52	$ 21.68

Share-Based Compensation - Sc_2

Share-Based Compensation - Schedule of Performance Stock Units ("PSUs") (Detail) - Performance Stock Units ("PSUs") [Member] - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Shares, Beginning balance	972,074	1,078,555	574,797
Number of Shares, Granted	393,225	327,416	1,641,117
Number of Shares, Vested		(428,255)	(973,891)
Number of Shares, Forfeited	(166,974)	(5,642)	(163,468)
Number of Shares, Ending balance	1,198,325	972,074	1,078,555
Weighted Average Grant Date Fair Value, Beginning balance	$ 22.59	$ 18.70	$ 32.82
Weighted Average Grant Date Fair Value, Granted	21.93	27.16	14.39
Weighted Average Grant Date Fair Value, Vested		16.33	20
Weighted Average Grant Date Fair Value, Forfeited	34.47	20.29	17.34
Weighted Average Grant Date Fair Value, Ending balance	$ 20.71	$ 22.59	$ 18.70

Share-Based Compensation - Sc_3

Share-Based Compensation - Schedule of Grant Date Fair Values of Awards Using Monte Carlo Simulation Valuation Model (Detail)		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected volatility	[1]	57.50%	60%
Expected volatility, minimum	[1]			22%
Expected volatility, maximum	[1]			65%
Risk-free rate, minimum			0.20%	0.30%
Risk-free rate, maximum			0.30%	1.50%
Expected term		3 years	3 years
Dividend yield	[2]	0%
Risk-free rate		1.70%
Minimum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected term				1 year
Maximum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected term				4 years
[1] The weighted average expected volatility for the years ended December 31, 2022, 2021 and 2020 was 57.5 % , 60.0 % and 46.2 % , respectively. Dividends are assumed to be reinvested in shares of our common stock and dividends will not be paid unless shares vest.

Share-Based Compensation - Sc_4

Share-Based Compensation - Schedule of Grant Date Fair Values of Awards Using Monte Carlo Simulation Valuation Model (Parenthetical) (Detail)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-Based Payment Arrangement [Abstract]
Weighted average expected volatility	57.50%	60%	46.20%

Earnings Per Share (Detail)

Earnings Per Share (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Numerator:
Net income (loss) attributable to stockholders, net of earnings allocated to participating securities		$ 162	$ (459)	$ (1,440)
Denominator:
Weighted average shares outstanding – basic		228	236	236
Unvested restricted shares		0	0	0
Weighted average shares outstanding - diluted		228	236	236
Earnings (loss) per share - Basic	[1]	$ 0.71	$ (1.95)	$ (6.11)
Earnings (loss) per share - Diluted	[1]	$ 0.71	$ (1.95)	$ (6.11)
[1] Per share amounts are calculated based on unrounded numbers and are calculated independently for each period presented.

Hotel Management Operating an_2

Hotel Management Operating and License Agreements -Additional Information (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) Hotel	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Description of renewal periods	allow for one or more renewal periods.
Number of operating hotels under franchise agreements | Hotel	4
Marketing fees	$ 45	$ 26	$ 15
Employee cost reimbursements	$ 117	$ 55	$ 57
Minimum [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Management agreement initial term	5 years
Management agreements total term including renewal periods	5 years
Franchise agreements initial term	13 years
Maximum [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Management agreement initial term	30 years
Management agreements total term including renewal periods	70 years
Franchise agreements initial term	20 years

Business Segment Information -

Business Segment Information - Additional Information (Detail)	12 Months Ended
	Dec. 31, 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 income (loss) to Hotel Adjusted EBITDA (Detail) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Reconciliation of Revenue and Adjusted EBITDA from Segments to Consolidated Amounts [Line Items]
Total revenues		$ 2,501	$ 1,362	$ 852
Net income (loss)		173	(452)	(1,444)
Casualty and impairment loss, net		6	9	696
Depreciation and amortization expense		269	281	298
Corporate general and administrative expense	[1]	63	62	61
Acquisition costs		0	0	10
Other operating expenses		72	49	36
(Gain) loss on sales of assets, net		(13)	5	(62)
Interest income		(13)	(1)	(2)
Interest expense		247	258	213
Equity in (earnings) losses from investments in affiliates		(15)	7	22
Income tax (benefit) expense		0	2	(6)
Other (gain) loss, net		(96)	7	15
Severance expense		0	0	33
Other items		12	1	12
Hotel Adjusted EBITDA		630	177	(147)
Total consolidated hotel revenue [Member]
Reconciliation of Revenue and Adjusted EBITDA from Segments to Consolidated Amounts [Line Items]
Total revenues		2,426	1,311	823
Other [Member]
Reconciliation of Revenue and Adjusted EBITDA from Segments to Consolidated Amounts [Line Items]
Total revenues		$ 75	$ 51	$ 29
[1] Excludes severance expense

Business Segment Information _3

Business Segment Information - Schedule of Total Assets by Consolidated Hotels, Reconciled to Total Assets (Detail) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Asset Reconciling Item [Line Items]
Total assets	$ 9,731	$ 9,743
Consolidated Hotels [Member]
Segment Reporting Asset Reconciling Item [Line Items]
Total assets	9,726	9,724
All Other [Member]
Segment Reporting Asset Reconciling Item [Line Items]
Total assets	$ 5	$ 19

Geographic and Business Segment

Geographic and Business Segment Information - Revenues and Property and Equipment, Net for Each of Geographical Areas (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$ 2,501	$ 1,362	$ 852
Property and equipment, net	$ 8,301	$ 8,511

Geographic and Business Segme_2

Geographic and Business Segment Information - Revenues and Property and Equipment, Net for Each of Geographical Areas (parenthetical) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenues from External Customers and Long-Lived Assets [Line Items]
Property and Equipment, net	$ 168	$ 54	$ 86

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Millions	1 Months Ended	12 Months Ended
	Feb. 28, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Other Commitments [Line Items]
Casualty and impairment loss, net		$ 6	$ 9	$ 696
Purchase commitment, remaining minimum amount committed		121
Reserve for ongoing claims		8
Hilton Sydney [Member]
Other Commitments [Line Items]
Payment for claim	$ 11
Bonnet Creek complex [Member]
Other Commitments [Line Items]
Purchase commitment, remaining minimum amount committed		$ 57

Supplemental Disclosures of C_2

Supplemental Disclosures of Cash Flow Information - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Interest paid	$ 245	$ 242	$ 187
Income taxes paid	7	31	23
Capital expenditures included within accounts payable and accrued expenses	33	$ 11	$ 6
Unpaid and accrued dividends	$ 56

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail)	1 Months Ended		12 Months Ended
	Feb. 28, 2023 USD ($) Room	Jan. 31, 2023 USD ($) shares	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Subsequent Event [Line Items]
Total purchase price			$ 227,000,000		$ 66,000,000
Gross proceeds on sale of hotel portfolio properties			149,000,000	$ 477,000,000
Repayments of credit facilities			$ 78,000,000	$ 1,193,000,000	$ 1,099,000,000
Hilton Miami Airport [Member] | Forecast [Member]
Subsequent Event [Line Items]
Number Of hotel rooms | Room	508
Gross proceeds on sale of hotel portfolio properties	$ 118,250,000
Proceeds from divestiture per key	233,000
Hilton Miami Airport [Member] | Forecast [Member] | Revolver [Member]
Subsequent Event [Line Items]
Repayments of credit facilities	$ 50,000,000
Subsequent Event [Member]
Subsequent Event [Line Items]
Total purchase price		$ 30,000,000
Additional repurchase of common stock | shares		2,500,000

Schedule III - Real Estate and

Schedule III - Real Estate and Accumulated Depreciation (Detail) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances		$ 2,469
Initial Cost, Land		3,447
Initial Cost, Building & Improvements		5,740
Initial Cost, Furniture, Fixtures & Equipment		413
Costs Capitalized Subsequent to Acquisition		1,408
Gross Amounts at Which Carried at Close of Period, Land		3,317
Gross Amounts at Which Carried at Close of Period, Building & Improvements		6,710
Gross Amounts at Which Carried at Close of Period, Furniture, Fixtures & Equipment		981
Gross Amounts at Which Carried at Close of Period, Total		11,008	$ 11,010	$ 11,376	$ 11,566
Accumulated Depreciation		(2,712)	$ (2,504)	$ (2,241)	$ (2,038)
Caribe Hilton [Member]
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost, Land		38
Initial Cost, Building & Improvements		56
Initial Cost, Furniture, Fixtures & Equipment		7
Costs Capitalized Subsequent to Acquisition		85
Gross Amounts at Which Carried at Close of Period, Land		40
Gross Amounts at Which Carried at Close of Period, Building & Improvements		111
Gross Amounts at Which Carried at Close of Period, Furniture, Fixtures & Equipment		35
Gross Amounts at Which Carried at Close of Period, Total		186
Accumulated Depreciation		$ (50)
Date of Construction		1949
Date Acquired	[1]	Oct. 24, 2007
Caribe Hilton [Member] | Minimum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		3 years
Caribe Hilton [Member] | Maximum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		40 years
Double Tree Hotel Durango [Member]
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost, Furniture, Fixtures & Equipment		$ 2
Costs Capitalized Subsequent to Acquisition		5
Gross Amounts at Which Carried at Close of Period, Building & Improvements		2
Gross Amounts at Which Carried at Close of Period, Furniture, Fixtures & Equipment		5
Gross Amounts at Which Carried at Close of Period, Total		7
Accumulated Depreciation		$ (5)
Date of Construction		1985
Date Acquired	[1]	Oct. 24, 2007
Double Tree Hotel Durango [Member] | Minimum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		3 years
Double Tree Hotel Durango [Member] | Maximum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		40 years
DoubleTree Hotel Ontario Airport [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances		$ 30
Initial Cost, Land		14
Initial Cost, Building & Improvements		58
Initial Cost, Furniture, Fixtures & Equipment		3
Costs Capitalized Subsequent to Acquisition		20
Gross Amounts at Which Carried at Close of Period, Land		13
Gross Amounts at Which Carried at Close of Period, Building & Improvements		64
Gross Amounts at Which Carried at Close of Period, Furniture, Fixtures & Equipment		18
Gross Amounts at Which Carried at Close of Period, Total		95
Accumulated Depreciation		$ (38)
Date of Construction		1974
Date Acquired	[1]	Oct. 24, 2007
DoubleTree Hotel Ontario Airport [Member] | Minimum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		3 years
DoubleTree Hotel Ontario Airport [Member] | Maximum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		40 years
Double Tree Hotel San Diego Mission Valley [Member]
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost, Furniture, Fixtures & Equipment		$ 2
Costs Capitalized Subsequent to Acquisition		17
Gross Amounts at Which Carried at Close of Period, Building & Improvements		10
Gross Amounts at Which Carried at Close of Period, Furniture, Fixtures & Equipment		9
Gross Amounts at Which Carried at Close of Period, Total		19
Accumulated Depreciation		$ (13)
Date of Construction		1989
Date Acquired	[1]	Oct. 24, 2007
Double Tree Hotel San Diego Mission Valley [Member] | Minimum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		3 years
Double Tree Hotel San Diego Mission Valley [Member] | Maximum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		40 years
Double Tree Hotel San Jose [Member]
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost, Land		$ 15
Initial Cost, Building & Improvements		67
Initial Cost, Furniture, Fixtures & Equipment		5
Costs Capitalized Subsequent to Acquisition		26
Gross Amounts at Which Carried at Close of Period, Land		15
Gross Amounts at Which Carried at Close of Period, Building & Improvements		82
Gross Amounts at Which Carried at Close of Period, Furniture, Fixtures & Equipment		16
Gross Amounts at Which Carried at Close of Period, Total		113
Accumulated Depreciation		$ (45)
Date of Construction		1980
Date Acquired	[1]	Oct. 24, 2007
Double Tree Hotel San Jose [Member] | Minimum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		3 years
Double Tree Hotel San Jose [Member] | Maximum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		40 years
DoubleTree Hotel Seattle Airport [Member]
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost, Furniture, Fixtures & Equipment		$ 11
Costs Capitalized Subsequent to Acquisition		27
Gross Amounts at Which Carried at Close of Period, Building & Improvements		11
Gross Amounts at Which Carried at Close of Period, Furniture, Fixtures & Equipment		27
Gross Amounts at Which Carried at Close of Period, Total		38
Accumulated Depreciation		$ (33)
Date of Construction		1969
Date Acquired	[1]	Oct. 24, 2007
DoubleTree Hotel Seattle Airport [Member] | Minimum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		3 years
DoubleTree Hotel Seattle Airport [Member] | Maximum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		40 years
DoubleTree Hotel Sonoma Wine Country [Member]
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost, Furniture, Fixtures & Equipment		$ 4
Costs Capitalized Subsequent to Acquisition		11
Gross Amounts at Which Carried at Close of Period, Building & Improvements		6
Gross Amounts at Which Carried at Close of Period, Furniture, Fixtures & Equipment		9
Gross Amounts at Which Carried at Close of Period, Total		15
Accumulated Depreciation		$ (12)
Date of Construction		1977
Date Acquired	[1]	Oct. 24, 2007
DoubleTree Hotel Sonoma Wine Country [Member] | Minimum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		3 years
DoubleTree Hotel Sonoma Wine Country [Member] | Maximum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		40 years
Embassy Suites Austin Downtown South Congress [Member]
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost, Building & Improvements		$ 45
Initial Cost, Furniture, Fixtures & Equipment		2
Costs Capitalized Subsequent to Acquisition		18
Gross Amounts at Which Carried at Close of Period, Building & Improvements		57
Gross Amounts at Which Carried at Close of Period, Furniture, Fixtures & Equipment		8
Gross Amounts at Which Carried at Close of Period, Total		65
Accumulated Depreciation		$ (39)
Date of Construction		1983
Date Acquired	[1]	Oct. 24, 2007
Embassy Suites Austin Downtown South Congress [Member] | Minimum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		3 years
Embassy Suites Austin Downtown South Congress [Member] | Maximum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		40 years
Embassy Suites Phoenix Airport [Member]
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost, Building & Improvements		$ 15
Initial Cost, Furniture, Fixtures & Equipment		1
Costs Capitalized Subsequent to Acquisition		$ (16)
Date of Construction		1986
Date Acquired	[1]	Oct. 24, 2007
Embassy Suites Phoenix Airport [Member] | Minimum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		3 years
Embassy Suites Phoenix Airport [Member] | Maximum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		40 years
Hilton Boston Logan Airport [Member]
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost, Building & Improvements		$ 108
Initial Cost, Furniture, Fixtures & Equipment		6
Costs Capitalized Subsequent to Acquisition		31
Gross Amounts at Which Carried at Close of Period, Building & Improvements		130
Gross Amounts at Which Carried at Close of Period, Furniture, Fixtures & Equipment		15
Gross Amounts at Which Carried at Close of Period, Total		145
Accumulated Depreciation		$ (55)
Date of Construction		1999
Date Acquired	[1]	Oct. 24, 2007
Hilton Boston Logan Airport [Member] | Minimum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		3 years
Hilton Boston Logan Airport [Member] | Maximum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		40 years
Hilton Chicago [Member]
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost, Land		$ 69
Initial Cost, Building & Improvements		233
Initial Cost, Furniture, Fixtures & Equipment		12
Costs Capitalized Subsequent to Acquisition		177
Gross Amounts at Which Carried at Close of Period, Land		70
Gross Amounts at Which Carried at Close of Period, Building & Improvements		368
Gross Amounts at Which Carried at Close of Period, Furniture, Fixtures & Equipment		53
Gross Amounts at Which Carried at Close of Period, Total		491
Accumulated Depreciation		$ (173)
Date of Construction		1927
Date Acquired	[1]	Oct. 24, 2007
Hilton Chicago [Member] | Minimum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		3 years
Hilton Chicago [Member] | Maximum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		40 years
Hilton Hawaiian Village Waikiki Beach Resort [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances		$ 1,275
Initial Cost, Land		925
Initial Cost, Building & Improvements		807
Initial Cost, Furniture, Fixtures & Equipment		17
Costs Capitalized Subsequent to Acquisition		389
Gross Amounts at Which Carried at Close of Period, Land		964
Gross Amounts at Which Carried at Close of Period, Building & Improvements		1,077
Gross Amounts at Which Carried at Close of Period, Furniture, Fixtures & Equipment		97
Gross Amounts at Which Carried at Close of Period, Total		2,138
Accumulated Depreciation		$ (503)
Date of Construction		1961
Date Acquired	[1]	Oct. 24, 2007
Hilton Hawaiian Village Waikiki Beach Resort [Member] | Minimum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		3 years
Hilton Hawaiian Village Waikiki Beach Resort [Member] | Maximum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		40 years
Hilton McLean Tysons Corner [Member]
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost, Land		$ 50
Initial Cost, Building & Improvements		82
Initial Cost, Furniture, Fixtures & Equipment		3
Costs Capitalized Subsequent to Acquisition		(14)
Gross Amounts at Which Carried at Close of Period, Land		23
Gross Amounts at Which Carried at Close of Period, Building & Improvements		55
Gross Amounts at Which Carried at Close of Period, Furniture, Fixtures & Equipment		43
Gross Amounts at Which Carried at Close of Period, Total		121
Accumulated Depreciation		$ (67)
Date of Construction		1987
Date Acquired	[1]	Oct. 24, 2007
Hilton McLean Tysons Corner [Member] | Minimum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		3 years
Hilton McLean Tysons Corner [Member] | Maximum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		40 years
Hilton New Orleans Riverside [Member]
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost, Land		$ 89
Initial Cost, Building & Improvements		217
Initial Cost, Furniture, Fixtures & Equipment		3
Costs Capitalized Subsequent to Acquisition		98
Gross Amounts at Which Carried at Close of Period, Land		90
Gross Amounts at Which Carried at Close of Period, Building & Improvements		269
Gross Amounts at Which Carried at Close of Period, Furniture, Fixtures & Equipment		48
Gross Amounts at Which Carried at Close of Period, Total		407
Accumulated Depreciation		$ (142)
Date of Construction		1977
Date Acquired	[1]	Oct. 24, 2007
Hilton New Orleans Riverside [Member] | Minimum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		3 years
Hilton New Orleans Riverside [Member] | Maximum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		40 years
Hilton Oakland Airport [Member]
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost, Building & Improvements		$ 13
Initial Cost, Furniture, Fixtures & Equipment		3
Costs Capitalized Subsequent to Acquisition		1
Gross Amounts at Which Carried at Close of Period, Building & Improvements		9
Gross Amounts at Which Carried at Close of Period, Furniture, Fixtures & Equipment		8
Gross Amounts at Which Carried at Close of Period, Total		17
Accumulated Depreciation		$ (11)
Date of Construction		1970
Date Acquired	[1]	Oct. 24, 2007
Hilton Oakland Airport [Member] | Minimum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		3 years
Hilton Oakland Airport [Member] | Maximum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		40 years
Hilton Salt Lake City Center [Member]
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost, Furniture, Fixtures & Equipment		$ 10
Costs Capitalized Subsequent to Acquisition		19
Gross Amounts at Which Carried at Close of Period, Building & Improvements		8
Gross Amounts at Which Carried at Close of Period, Furniture, Fixtures & Equipment		21
Gross Amounts at Which Carried at Close of Period, Total		29
Accumulated Depreciation		$ (24)
Date of Construction		2002
Date Acquired	[1]	Oct. 24, 2007
Hilton Salt Lake City Center [Member] | Minimum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		3 years
Hilton Salt Lake City Center [Member] | Maximum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		40 years
Hilton San Francisco Union Square [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	[2]	$ 725
Initial Cost, Land		113
Initial Cost, Building & Improvements		232
Initial Cost, Furniture, Fixtures & Equipment		16
Costs Capitalized Subsequent to Acquisition		138
Gross Amounts at Which Carried at Close of Period, Land		114
Gross Amounts at Which Carried at Close of Period, Building & Improvements		342
Gross Amounts at Which Carried at Close of Period, Furniture, Fixtures & Equipment		43
Gross Amounts at Which Carried at Close of Period, Total		499
Accumulated Depreciation		$ (159)
Date of Construction		1964
Date Acquired	[1]	Oct. 24, 2007
Hilton San Francisco Union Square [Member] | Minimum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		3 years
Hilton San Francisco Union Square [Member] | Maximum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		40 years
Hilton Santa Barbara Beachfront Resort [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances		$ 162
Initial Cost, Land		71
Initial Cost, Building & Improvements		50
Initial Cost, Furniture, Fixtures & Equipment		2
Costs Capitalized Subsequent to Acquisition		43
Gross Amounts at Which Carried at Close of Period, Land		71
Gross Amounts at Which Carried at Close of Period, Building & Improvements		75
Gross Amounts at Which Carried at Close of Period, Furniture, Fixtures & Equipment		20
Gross Amounts at Which Carried at Close of Period, Total		166
Accumulated Depreciation		$ (40)
Date of Construction		1986
Date Acquired	[1]	Oct. 24, 2007
Hilton Santa Barbara Beachfront Resort [Member] | Minimum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		3 years
Hilton Santa Barbara Beachfront Resort [Member] | Maximum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		40 years
Hilton Seattle Airport & Conference Center [Member]
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost, Building & Improvements		$ 70
Initial Cost, Furniture, Fixtures & Equipment		3
Costs Capitalized Subsequent to Acquisition		16
Gross Amounts at Which Carried at Close of Period, Building & Improvements		80
Gross Amounts at Which Carried at Close of Period, Furniture, Fixtures & Equipment		9
Gross Amounts at Which Carried at Close of Period, Total		89
Accumulated Depreciation		$ (42)
Date of Construction		1961
Date Acquired	[1]	Oct. 24, 2007
Hilton Seattle Airport & Conference Center [Member] | Minimum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		3 years
Hilton Seattle Airport & Conference Center [Member] | Maximum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		40 years
Hilton Short Hills [Member]
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost, Land		$ 59
Initial Cost, Building & Improvements		54
Initial Cost, Furniture, Fixtures & Equipment		3
Costs Capitalized Subsequent to Acquisition		(91)
Gross Amounts at Which Carried at Close of Period, Land		13
Gross Amounts at Which Carried at Close of Period, Building & Improvements		10
Gross Amounts at Which Carried at Close of Period, Furniture, Fixtures & Equipment		2
Gross Amounts at Which Carried at Close of Period, Total		25
Accumulated Depreciation		$ (2)
Date of Construction		1988
Date Acquired	[1]	Oct. 24, 2007
Hilton Short Hills [Member] | Minimum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		3 years
Hilton Short Hills [Member] | Maximum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		40 years
Hilton Waikoloa Village [Member]
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost, Land		$ 160
Initial Cost, Building & Improvements		340
Initial Cost, Furniture, Fixtures & Equipment		25
Costs Capitalized Subsequent to Acquisition		(63)
Gross Amounts at Which Carried at Close of Period, Land		110
Gross Amounts at Which Carried at Close of Period, Building & Improvements		291
Gross Amounts at Which Carried at Close of Period, Furniture, Fixtures & Equipment		61
Gross Amounts at Which Carried at Close of Period, Total		462
Accumulated Depreciation		$ (172)
Date of Construction		1988
Date Acquired	[1]	Oct. 24, 2007
Hilton Waikoloa Village [Member] | Minimum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		3 years
Hilton Waikoloa Village [Member] | Maximum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		40 years
New York Hilton Midtown [Member]
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost, Land		$ 1,096
Initial Cost, Building & Improvements		542
Initial Cost, Furniture, Fixtures & Equipment		13
Costs Capitalized Subsequent to Acquisition		135
Gross Amounts at Which Carried at Close of Period, Land		1,043
Gross Amounts at Which Carried at Close of Period, Building & Improvements		655
Gross Amounts at Which Carried at Close of Period, Furniture, Fixtures & Equipment		88
Gross Amounts at Which Carried at Close of Period, Total		1,786
Accumulated Depreciation		$ (305)
Date of Construction		1963
Date Acquired	[1]	Oct. 24, 2007
New York Hilton Midtown [Member] | Minimum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		3 years
New York Hilton Midtown [Member] | Maximum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		40 years
DoubleTree Hotel Washington DC Crystal City [Member]
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost, Land		$ 43
Initial Cost, Building & Improvements		95
Initial Cost, Furniture, Fixtures & Equipment		2
Costs Capitalized Subsequent to Acquisition		49
Gross Amounts at Which Carried at Close of Period, Land		43
Gross Amounts at Which Carried at Close of Period, Building & Improvements		127
Gross Amounts at Which Carried at Close of Period, Furniture, Fixtures & Equipment		19
Gross Amounts at Which Carried at Close of Period, Total		189
Accumulated Depreciation		$ (69)
Date of Construction		1982
Date Acquired	[1]	Dec. 14, 2007
DoubleTree Hotel Washington DC Crystal City [Member] | Minimum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		3 years
DoubleTree Hotel Washington DC Crystal City [Member] | Maximum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		40 years
Hilton Miami Airport [Member]
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost, Land		$ 64
Initial Cost, Building & Improvements		36
Initial Cost, Furniture, Fixtures & Equipment		3
Costs Capitalized Subsequent to Acquisition		39
Gross Amounts at Which Carried at Close of Period, Land		64
Gross Amounts at Which Carried at Close of Period, Building & Improvements		61
Gross Amounts at Which Carried at Close of Period, Furniture, Fixtures & Equipment		17
Gross Amounts at Which Carried at Close of Period, Total		142
Accumulated Depreciation		$ (41)
Date of Construction		1984
Date Acquired	[1]	Dec. 14, 2007
Hilton Miami Airport [Member] | Minimum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		3 years
Hilton Miami Airport [Member] | Maximum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		40 years
DoubleTree Hotel Spokane City Center [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances		$ 14
Initial Cost, Land		3
Initial Cost, Building & Improvements		24
Initial Cost, Furniture, Fixtures & Equipment		2
Costs Capitalized Subsequent to Acquisition		12
Gross Amounts at Which Carried at Close of Period, Land		3
Gross Amounts at Which Carried at Close of Period, Building & Improvements		30
Gross Amounts at Which Carried at Close of Period, Furniture, Fixtures & Equipment		8
Gross Amounts at Which Carried at Close of Period, Total		41
Accumulated Depreciation		$ (15)
Date of Construction		1986
Date Acquired	[1]	Jan. 01, 2010
DoubleTree Hotel Spokane City Center [Member] | Minimum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		3 years
DoubleTree Hotel Spokane City Center [Member] | Maximum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		40 years
Hilton Orlando Lake Buena Vista [Member]
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost, Building & Improvements		$ 137
Initial Cost, Furniture, Fixtures & Equipment		10
Costs Capitalized Subsequent to Acquisition		40
Gross Amounts at Which Carried at Close of Period, Building & Improvements		156
Gross Amounts at Which Carried at Close of Period, Furniture, Fixtures & Equipment		31
Gross Amounts at Which Carried at Close of Period, Total		187
Accumulated Depreciation		$ (74)
Date of Construction		1983
Date Acquired	[1]	Aug. 30, 2010
Hilton Orlando Lake Buena Vista [Member] | Minimum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		3 years
Hilton Orlando Lake Buena Vista [Member] | Maximum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		40 years
Embassy Suites Kansas City Plaza [Member]
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost, Building & Improvements		$ 26
Initial Cost, Furniture, Fixtures & Equipment		1
Costs Capitalized Subsequent to Acquisition		4
Gross Amounts at Which Carried at Close of Period, Building & Improvements		28
Gross Amounts at Which Carried at Close of Period, Furniture, Fixtures & Equipment		3
Gross Amounts at Which Carried at Close of Period, Total		31
Accumulated Depreciation		$ (22)
Date of Construction		1973
Date Acquired	[1]	Jul. 25, 2014
Embassy Suites Kansas City Plaza [Member] | Minimum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		3 years
Embassy Suites Kansas City Plaza [Member] | Maximum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		40 years
Signia by Hilton Orlando Bonnet Creek [Member]
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost, Land		$ 15
Initial Cost, Building & Improvements		377
Initial Cost, Furniture, Fixtures & Equipment		31
Costs Capitalized Subsequent to Acquisition		101
Gross Amounts at Which Carried at Close of Period, Land		18
Gross Amounts at Which Carried at Close of Period, Building & Improvements		474
Gross Amounts at Which Carried at Close of Period, Furniture, Fixtures & Equipment		32
Gross Amounts at Which Carried at Close of Period, Total		524
Accumulated Depreciation		$ (94)
Date of Construction		2009
Date Acquired	[1]	Feb. 12, 2015
Signia by Hilton Orlando Bonnet Creek [Member] | Minimum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		3 years
Signia by Hilton Orlando Bonnet Creek [Member] | Maximum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		40 years
Parc 55 San Francisco - A Hilton Hotel [Member]
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost, Land		$ 175
Initial Cost, Building & Improvements		315
Initial Cost, Furniture, Fixtures & Equipment		32
Costs Capitalized Subsequent to Acquisition		20
Gross Amounts at Which Carried at Close of Period, Land		175
Gross Amounts at Which Carried at Close of Period, Building & Improvements		329
Gross Amounts at Which Carried at Close of Period, Furniture, Fixtures & Equipment		38
Gross Amounts at Which Carried at Close of Period, Total		542
Accumulated Depreciation		$ (100)
Date of Construction		1984
Date Acquired	[1]	Feb. 12, 2015
Parc 55 San Francisco - A Hilton Hotel [Member] | Minimum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		3 years
Parc 55 San Francisco - A Hilton Hotel [Member] | Maximum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		40 years
Waldorf Astoria Orlando [Member]
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost, Land		$ 34
Initial Cost, Building & Improvements		274
Initial Cost, Furniture, Fixtures & Equipment		29
Costs Capitalized Subsequent to Acquisition		22
Gross Amounts at Which Carried at Close of Period, Land		34
Gross Amounts at Which Carried at Close of Period, Building & Improvements		289
Gross Amounts at Which Carried at Close of Period, Furniture, Fixtures & Equipment		36
Gross Amounts at Which Carried at Close of Period, Total		359
Accumulated Depreciation		$ (95)
Date of Construction		2009
Date Acquired	[1]	Feb. 12, 2015
Waldorf Astoria Orlando [Member] | Minimum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		3 years
Waldorf Astoria Orlando [Member] | Maximum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		40 years
Casa Marina Key West Curio Collection [Member]
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost, Land		$ 164
Initial Cost, Building & Improvements		174
Initial Cost, Furniture, Fixtures & Equipment		9
Costs Capitalized Subsequent to Acquisition		13
Gross Amounts at Which Carried at Close of Period, Land		164
Gross Amounts at Which Carried at Close of Period, Building & Improvements		184
Gross Amounts at Which Carried at Close of Period, Furniture, Fixtures & Equipment		12
Gross Amounts at Which Carried at Close of Period, Total		360
Accumulated Depreciation		$ (47)
Date of Construction		1920
Date Acquired	[1]	Feb. 17, 2015
Casa Marina Key West Curio Collection [Member] | Minimum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		3 years
Casa Marina Key West Curio Collection [Member] | Maximum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		40 years
The Reach Key West, Curio Collection [Member]
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost, Land		$ 57
Initial Cost, Building & Improvements		67
Initial Cost, Furniture, Fixtures & Equipment		3
Costs Capitalized Subsequent to Acquisition		18
Gross Amounts at Which Carried at Close of Period, Land		57
Gross Amounts at Which Carried at Close of Period, Building & Improvements		79
Gross Amounts at Which Carried at Close of Period, Furniture, Fixtures & Equipment		9
Gross Amounts at Which Carried at Close of Period, Total		145
Accumulated Depreciation		$ (20)
Date of Construction		1970
Date Acquired	[1]	Feb. 17, 2015
The Reach Key West, Curio Collection [Member] | Minimum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		3 years
The Reach Key West, Curio Collection [Member] | Maximum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		40 years
Juniper Hotel Cupertino, Curio Collection [Member]
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost, Land		$ 40
Initial Cost, Building & Improvements		64
Initial Cost, Furniture, Fixtures & Equipment		8
Gross Amounts at Which Carried at Close of Period, Land		40
Gross Amounts at Which Carried at Close of Period, Building & Improvements		65
Gross Amounts at Which Carried at Close of Period, Furniture, Fixtures & Equipment		7
Gross Amounts at Which Carried at Close of Period, Total		112
Accumulated Depreciation		$ (19)
Date of Construction		1973
Date Acquired	[1]	Jun. 02, 2015
Juniper Hotel Cupertino, Curio Collection [Member] | Minimum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		3 years
Juniper Hotel Cupertino, Curio Collection [Member] | Maximum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		40 years
Boston Marriott Newton [Member]
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost, Land		$ 24
Initial Cost, Building & Improvements		74
Initial Cost, Furniture, Fixtures & Equipment		15
Costs Capitalized Subsequent to Acquisition		2
Gross Amounts at Which Carried at Close of Period, Land		24
Gross Amounts at Which Carried at Close of Period, Building & Improvements		75
Gross Amounts at Which Carried at Close of Period, Furniture, Fixtures & Equipment		16
Gross Amounts at Which Carried at Close of Period, Total		115
Accumulated Depreciation		$ (16)
Date of Construction		1969
Date Acquired	[1]	Sep. 18, 2019
Boston Marriott Newton [Member] | Minimum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		3 years
Boston Marriott Newton [Member] | Maximum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		40 years
Hilton Checkers Los Angeles [Member]
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost, Land		$ 19
Initial Cost, Building & Improvements		44
Initial Cost, Furniture, Fixtures & Equipment		7
Costs Capitalized Subsequent to Acquisition		2
Gross Amounts at Which Carried at Close of Period, Land		19
Gross Amounts at Which Carried at Close of Period, Building & Improvements		46
Gross Amounts at Which Carried at Close of Period, Furniture, Fixtures & Equipment		7
Gross Amounts at Which Carried at Close of Period, Total		72
Accumulated Depreciation		$ (7)
Date of Construction		1927
Date Acquired	[1]	Sep. 18, 2019
Hilton Checkers Los Angeles [Member] | Minimum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		3 years
Hilton Checkers Los Angeles [Member] | Maximum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		40 years
Hilton Denver City Center [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances		$ 56
Initial Cost, Land		14
Initial Cost, Building & Improvements		163
Initial Cost, Furniture, Fixtures & Equipment		21
Gross Amounts at Which Carried at Close of Period, Land		14
Gross Amounts at Which Carried at Close of Period, Building & Improvements		163
Gross Amounts at Which Carried at Close of Period, Furniture, Fixtures & Equipment		21
Gross Amounts at Which Carried at Close of Period, Total		198
Accumulated Depreciation		$ (25)
Date of Construction		1982
Date Acquired	[1]	Sep. 18, 2019
Hilton Denver City Center [Member] | Minimum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		3 years
Hilton Denver City Center [Member] | Maximum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		40 years
Hyatt Centric Fishermans Wharf [Member]
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost, Land		$ 33
Initial Cost, Building & Improvements		122
Initial Cost, Furniture, Fixtures & Equipment		11
Costs Capitalized Subsequent to Acquisition		1
Gross Amounts at Which Carried at Close of Period, Land		33
Gross Amounts at Which Carried at Close of Period, Building & Improvements		123
Gross Amounts at Which Carried at Close of Period, Furniture, Fixtures & Equipment		11
Gross Amounts at Which Carried at Close of Period, Total		167
Accumulated Depreciation		$ (21)
Date of Construction		1990
Date Acquired	[1]	Sep. 18, 2019
Hyatt Centric Fishermans Wharf [Member] | Minimum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		3 years
Hyatt Centric Fishermans Wharf [Member] | Maximum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		40 years
Hyatt Regency Boston [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances		$ 132
Initial Cost, Building & Improvements		177
Initial Cost, Furniture, Fixtures & Equipment		14
Costs Capitalized Subsequent to Acquisition		1
Gross Amounts at Which Carried at Close of Period, Building & Improvements		178
Gross Amounts at Which Carried at Close of Period, Furniture, Fixtures & Equipment		14
Gross Amounts at Which Carried at Close of Period, Total		192
Accumulated Depreciation		$ (28)
Date of Construction		1985
Date Acquired	[1]	Sep. 18, 2019
Hyatt Regency Boston [Member] | Minimum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		3 years
Hyatt Regency Boston [Member] | Maximum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		40 years
Hyatt Regency Mission Bay Spa And Marina [Member]
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost, Land		$ 5
Initial Cost, Building & Improvements		118
Initial Cost, Furniture, Fixtures & Equipment		15
Costs Capitalized Subsequent to Acquisition		3
Gross Amounts at Which Carried at Close of Period, Land		5
Gross Amounts at Which Carried at Close of Period, Building & Improvements		120
Gross Amounts at Which Carried at Close of Period, Furniture, Fixtures & Equipment		16
Gross Amounts at Which Carried at Close of Period, Total		141
Accumulated Depreciation		$ (20)
Date of Construction		1961
Date Acquired	[1]	Sep. 18, 2019
Hyatt Regency Mission Bay Spa And Marina [Member] | Minimum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		3 years
Hyatt Regency Mission Bay Spa And Marina [Member] | Maximum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		40 years
J W Marriott San Francisco Union Square [Member]
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost, Building & Improvements		$ 191
Initial Cost, Furniture, Fixtures & Equipment		13
Costs Capitalized Subsequent to Acquisition		2
Gross Amounts at Which Carried at Close of Period, Building & Improvements		193
Gross Amounts at Which Carried at Close of Period, Furniture, Fixtures & Equipment		13
Gross Amounts at Which Carried at Close of Period, Total		206
Accumulated Depreciation		$ (23)
Date of Construction		1987
Date Acquired	[1]	Sep. 18, 2019
J W Marriott San Francisco Union Square [Member] | Minimum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		3 years
J W Marriott San Francisco Union Square [Member] | Maximum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		40 years
Royal Palm South Beach Miami A Tribute Portfolio Resort [Member]
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost, Land		$ 16
Initial Cost, Building & Improvements		139
Initial Cost, Furniture, Fixtures & Equipment		12
Costs Capitalized Subsequent to Acquisition		4
Gross Amounts at Which Carried at Close of Period, Land		16
Gross Amounts at Which Carried at Close of Period, Building & Improvements		142
Gross Amounts at Which Carried at Close of Period, Furniture, Fixtures & Equipment		13
Gross Amounts at Which Carried at Close of Period, Total		171
Accumulated Depreciation		$ (20)
Date of Construction		1926
Date Acquired	[1]	Sep. 18, 2019
Royal Palm South Beach Miami A Tribute Portfolio Resort [Member] | Minimum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		3 years
Royal Palm South Beach Miami A Tribute Portfolio Resort [Member] | Maximum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		40 years
W Chicago City Centre [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances		$ 75
Initial Cost, Land		20
Initial Cost, Building & Improvements		76
Initial Cost, Furniture, Fixtures & Equipment		14
Costs Capitalized Subsequent to Acquisition		1
Gross Amounts at Which Carried at Close of Period, Land		20
Gross Amounts at Which Carried at Close of Period, Building & Improvements		77
Gross Amounts at Which Carried at Close of Period, Furniture, Fixtures & Equipment		14
Gross Amounts at Which Carried at Close of Period, Total		111
Accumulated Depreciation		$ (13)
Date of Construction		1928
Date Acquired	[1]	Sep. 18, 2019
W Chicago City Centre [Member] | Minimum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		3 years
W Chicago City Centre [Member] | Maximum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		40 years
W Chicago Lakeshore [Member]
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost, Land		$ 22
Initial Cost, Building & Improvements		58
Initial Cost, Furniture, Fixtures & Equipment		8
Costs Capitalized Subsequent to Acquisition		2
Gross Amounts at Which Carried at Close of Period, Land		22
Gross Amounts at Which Carried at Close of Period, Building & Improvements		59
Gross Amounts at Which Carried at Close of Period, Furniture, Fixtures & Equipment		9
Gross Amounts at Which Carried at Close of Period, Total		90
Accumulated Depreciation		$ (13)
Date of Construction		1965
Date Acquired	[1]	Sep. 18, 2019
W Chicago Lakeshore [Member] | Minimum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		3 years
W Chicago Lakeshore [Member] | Maximum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life Upon Which Depreciation is Computed		40 years
[1] On October 24, 2007, a predecessor to our Parent became a wholly owned subsidiary of an affiliate of The Blackstone Group L.P. following the completion of the Blackstone Merger Single $ 725 million CMBS loan secured by Hilton San Francisco Union Square and Parc 55 San Francisco – A Hilton Hotel.

Schedule III - Real Estate an_2

Schedule III - Real Estate and Accumulated Depreciation (Parenthetical) (Details) $ in Millions	Dec. 31, 2022 USD ($)
Hilton San Francisco Union Square and Parc Fifty Five San Francisco - A Hilton Hotel [Member]
Real Estate and Accumulated Depreciation [Line Items]
Senior Secured Notes	$ 725

Schedule III - Real Estate an_3

Schedule III - Real Estate and Accumulated Depreciation - Change in Total Cost of Properties (Detail) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]
Balance at beginning of period		$ 11,010	$ 11,376	$ 11,566
Additions during period:
Capital expenditures		188	62	66
Transfer to real estate assets	[1]	0	83
Dispositions, including casualty losses and impairment loss on planned dispositions		(190)	(511)	(250)
Foreign exchange effect		0		(6)
Balance at end of period		$ 11,008	$ 11,010	$ 11,376
[1] During 2021, four of our hotels that were previously managed by us were transitioned to a third-party hotel management company.

Schedule III - Real Estate an_4

Schedule III - Real Estate and Accumulated Depreciation - Change in Accumulated Depreciation (Detail) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]
Balance at beginning of period		$ 2,504	$ 2,241	$ 2,038
Additions during period:
Depreciation expense		267	280	294
Transfer to real estate assets	[1]	0	30
Deductions during period:
Dispositions Including Casualty Losses		(59)	(47)	(89)
Foreign exchange effect		0		(2)
Balance at end of period		$ 2,712	$ 2,504	$ 2,241
[1] During 2021, four of our hotels that were previously managed by us were transitioned to a third-party hotel management company.

Schedule III - Real Estate an_5

Schedule III - Real Estate and Accumulated Depreciation - Additional Information (Detail) $ in Millions	Dec. 31, 2022 USD ($)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]
Aggregate cost of real estate for U.S. federal income tax purposes	$ 6,288