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—We receive government subsidies, primarily in the form of cash, related to expenses such as salaries, wages, and taxes. The subsidies are recorded when there is reasonable assurance the conditions of the subsidies will be met and the subsidies will be received. The subsidies are recognized as a benefit against the related expense on our consolidated statements of income over the period that the subsidies are intended to compensate. Our subsidies primarily relate to the Coronavirus Aid, Relief, and Economic Security ("CARES") Act and the American Rescue Plan Act of 2021 ("ARPA"). The CARES Act, enacted in March 2020, as well as subsequently enacted legislation, including ARPA, provided economic support due to the COVID-19 pandemic. The CARES Act included an employee retention credit, which is a refundable tax credit against certain employment taxes. ARPA provided a refundable subsidy tax credit to employers to offset the costs of COBRA coverage for certain qualified employees from April 1, 2021 through September 30, 2021. During the years ended December 31, 2024, December 31, 2023, and December 31, 2022, we received $ 2 million, $ 19 million, and $ 6 million, respectively, of government assistance related to these programs in the form of cash. The benefit from the government subsidies was primarily recognized against the related expenses in prior periods. At December 31, 2024 and December 31, 2023, we had $ 5 million and $ 7 million, respectively, related to these programs recorded in receivables , net on our consolidated balance sheets. | text | 2 | monetaryItemType | text: <entity> 2 </entity> <entity type> monetaryItemType </entity type> <context> —We receive government subsidies, primarily in the form of cash, related to expenses such as salaries, wages, and taxes. The subsidies are recorded when there is reasonable assurance the conditions of the subsidies will be met and the subsidies will be received. The subsidies are recognized as a benefit against the related expense on our consolidated statements of income over the period that the subsidies are intended to compensate. Our subsidies primarily relate to the Coronavirus Aid, Relief, and Economic Security ("CARES") Act and the American Rescue Plan Act of 2021 ("ARPA"). The CARES Act, enacted in March 2020, as well as subsequently enacted legislation, including ARPA, provided economic support due to the COVID-19 pandemic. The CARES Act included an employee retention credit, which is a refundable tax credit against certain employment taxes. ARPA provided a refundable subsidy tax credit to employers to offset the costs of COBRA coverage for certain qualified employees from April 1, 2021 through September 30, 2021. During the years ended December 31, 2024, December 31, 2023, and December 31, 2022, we received $ 2 million, $ 19 million, and $ 6 million, respectively, of government assistance related to these programs in the form of cash. The benefit from the government subsidies was primarily recognized against the related expenses in prior periods. At December 31, 2024 and December 31, 2023, we had $ 5 million and $ 7 million, respectively, related to these programs recorded in receivables , net on our consolidated balance sheets. </context> | us-gaap:GovernmentAssistanceAmount |
—We receive government subsidies, primarily in the form of cash, related to expenses such as salaries, wages, and taxes. The subsidies are recorded when there is reasonable assurance the conditions of the subsidies will be met and the subsidies will be received. The subsidies are recognized as a benefit against the related expense on our consolidated statements of income over the period that the subsidies are intended to compensate. Our subsidies primarily relate to the Coronavirus Aid, Relief, and Economic Security ("CARES") Act and the American Rescue Plan Act of 2021 ("ARPA"). The CARES Act, enacted in March 2020, as well as subsequently enacted legislation, including ARPA, provided economic support due to the COVID-19 pandemic. The CARES Act included an employee retention credit, which is a refundable tax credit against certain employment taxes. ARPA provided a refundable subsidy tax credit to employers to offset the costs of COBRA coverage for certain qualified employees from April 1, 2021 through September 30, 2021. During the years ended December 31, 2024, December 31, 2023, and December 31, 2022, we received $ 2 million, $ 19 million, and $ 6 million, respectively, of government assistance related to these programs in the form of cash. The benefit from the government subsidies was primarily recognized against the related expenses in prior periods. At December 31, 2024 and December 31, 2023, we had $ 5 million and $ 7 million, respectively, related to these programs recorded in receivables , net on our consolidated balance sheets. | text | 19 | monetaryItemType | text: <entity> 19 </entity> <entity type> monetaryItemType </entity type> <context> —We receive government subsidies, primarily in the form of cash, related to expenses such as salaries, wages, and taxes. The subsidies are recorded when there is reasonable assurance the conditions of the subsidies will be met and the subsidies will be received. The subsidies are recognized as a benefit against the related expense on our consolidated statements of income over the period that the subsidies are intended to compensate. Our subsidies primarily relate to the Coronavirus Aid, Relief, and Economic Security ("CARES") Act and the American Rescue Plan Act of 2021 ("ARPA"). The CARES Act, enacted in March 2020, as well as subsequently enacted legislation, including ARPA, provided economic support due to the COVID-19 pandemic. The CARES Act included an employee retention credit, which is a refundable tax credit against certain employment taxes. ARPA provided a refundable subsidy tax credit to employers to offset the costs of COBRA coverage for certain qualified employees from April 1, 2021 through September 30, 2021. During the years ended December 31, 2024, December 31, 2023, and December 31, 2022, we received $ 2 million, $ 19 million, and $ 6 million, respectively, of government assistance related to these programs in the form of cash. The benefit from the government subsidies was primarily recognized against the related expenses in prior periods. At December 31, 2024 and December 31, 2023, we had $ 5 million and $ 7 million, respectively, related to these programs recorded in receivables , net on our consolidated balance sheets. </context> | us-gaap:GovernmentAssistanceAmount |
—We receive government subsidies, primarily in the form of cash, related to expenses such as salaries, wages, and taxes. The subsidies are recorded when there is reasonable assurance the conditions of the subsidies will be met and the subsidies will be received. The subsidies are recognized as a benefit against the related expense on our consolidated statements of income over the period that the subsidies are intended to compensate. Our subsidies primarily relate to the Coronavirus Aid, Relief, and Economic Security ("CARES") Act and the American Rescue Plan Act of 2021 ("ARPA"). The CARES Act, enacted in March 2020, as well as subsequently enacted legislation, including ARPA, provided economic support due to the COVID-19 pandemic. The CARES Act included an employee retention credit, which is a refundable tax credit against certain employment taxes. ARPA provided a refundable subsidy tax credit to employers to offset the costs of COBRA coverage for certain qualified employees from April 1, 2021 through September 30, 2021. During the years ended December 31, 2024, December 31, 2023, and December 31, 2022, we received $ 2 million, $ 19 million, and $ 6 million, respectively, of government assistance related to these programs in the form of cash. The benefit from the government subsidies was primarily recognized against the related expenses in prior periods. At December 31, 2024 and December 31, 2023, we had $ 5 million and $ 7 million, respectively, related to these programs recorded in receivables , net on our consolidated balance sheets. | text | 6 | monetaryItemType | text: <entity> 6 </entity> <entity type> monetaryItemType </entity type> <context> —We receive government subsidies, primarily in the form of cash, related to expenses such as salaries, wages, and taxes. The subsidies are recorded when there is reasonable assurance the conditions of the subsidies will be met and the subsidies will be received. The subsidies are recognized as a benefit against the related expense on our consolidated statements of income over the period that the subsidies are intended to compensate. Our subsidies primarily relate to the Coronavirus Aid, Relief, and Economic Security ("CARES") Act and the American Rescue Plan Act of 2021 ("ARPA"). The CARES Act, enacted in March 2020, as well as subsequently enacted legislation, including ARPA, provided economic support due to the COVID-19 pandemic. The CARES Act included an employee retention credit, which is a refundable tax credit against certain employment taxes. ARPA provided a refundable subsidy tax credit to employers to offset the costs of COBRA coverage for certain qualified employees from April 1, 2021 through September 30, 2021. During the years ended December 31, 2024, December 31, 2023, and December 31, 2022, we received $ 2 million, $ 19 million, and $ 6 million, respectively, of government assistance related to these programs in the form of cash. The benefit from the government subsidies was primarily recognized against the related expenses in prior periods. At December 31, 2024 and December 31, 2023, we had $ 5 million and $ 7 million, respectively, related to these programs recorded in receivables , net on our consolidated balance sheets. </context> | us-gaap:GovernmentAssistanceAmount |
—We receive government subsidies, primarily in the form of cash, related to expenses such as salaries, wages, and taxes. The subsidies are recorded when there is reasonable assurance the conditions of the subsidies will be met and the subsidies will be received. The subsidies are recognized as a benefit against the related expense on our consolidated statements of income over the period that the subsidies are intended to compensate. Our subsidies primarily relate to the Coronavirus Aid, Relief, and Economic Security ("CARES") Act and the American Rescue Plan Act of 2021 ("ARPA"). The CARES Act, enacted in March 2020, as well as subsequently enacted legislation, including ARPA, provided economic support due to the COVID-19 pandemic. The CARES Act included an employee retention credit, which is a refundable tax credit against certain employment taxes. ARPA provided a refundable subsidy tax credit to employers to offset the costs of COBRA coverage for certain qualified employees from April 1, 2021 through September 30, 2021. During the years ended December 31, 2024, December 31, 2023, and December 31, 2022, we received $ 2 million, $ 19 million, and $ 6 million, respectively, of government assistance related to these programs in the form of cash. The benefit from the government subsidies was primarily recognized against the related expenses in prior periods. At December 31, 2024 and December 31, 2023, we had $ 5 million and $ 7 million, respectively, related to these programs recorded in receivables , net on our consolidated balance sheets. | text | 5 | monetaryItemType | text: <entity> 5 </entity> <entity type> monetaryItemType </entity type> <context> —We receive government subsidies, primarily in the form of cash, related to expenses such as salaries, wages, and taxes. The subsidies are recorded when there is reasonable assurance the conditions of the subsidies will be met and the subsidies will be received. The subsidies are recognized as a benefit against the related expense on our consolidated statements of income over the period that the subsidies are intended to compensate. Our subsidies primarily relate to the Coronavirus Aid, Relief, and Economic Security ("CARES") Act and the American Rescue Plan Act of 2021 ("ARPA"). The CARES Act, enacted in March 2020, as well as subsequently enacted legislation, including ARPA, provided economic support due to the COVID-19 pandemic. The CARES Act included an employee retention credit, which is a refundable tax credit against certain employment taxes. ARPA provided a refundable subsidy tax credit to employers to offset the costs of COBRA coverage for certain qualified employees from April 1, 2021 through September 30, 2021. During the years ended December 31, 2024, December 31, 2023, and December 31, 2022, we received $ 2 million, $ 19 million, and $ 6 million, respectively, of government assistance related to these programs in the form of cash. The benefit from the government subsidies was primarily recognized against the related expenses in prior periods. At December 31, 2024 and December 31, 2023, we had $ 5 million and $ 7 million, respectively, related to these programs recorded in receivables , net on our consolidated balance sheets. </context> | us-gaap:GovernmentAssistanceAmountCumulative |
—We receive government subsidies, primarily in the form of cash, related to expenses such as salaries, wages, and taxes. The subsidies are recorded when there is reasonable assurance the conditions of the subsidies will be met and the subsidies will be received. The subsidies are recognized as a benefit against the related expense on our consolidated statements of income over the period that the subsidies are intended to compensate. Our subsidies primarily relate to the Coronavirus Aid, Relief, and Economic Security ("CARES") Act and the American Rescue Plan Act of 2021 ("ARPA"). The CARES Act, enacted in March 2020, as well as subsequently enacted legislation, including ARPA, provided economic support due to the COVID-19 pandemic. The CARES Act included an employee retention credit, which is a refundable tax credit against certain employment taxes. ARPA provided a refundable subsidy tax credit to employers to offset the costs of COBRA coverage for certain qualified employees from April 1, 2021 through September 30, 2021. During the years ended December 31, 2024, December 31, 2023, and December 31, 2022, we received $ 2 million, $ 19 million, and $ 6 million, respectively, of government assistance related to these programs in the form of cash. The benefit from the government subsidies was primarily recognized against the related expenses in prior periods. At December 31, 2024 and December 31, 2023, we had $ 5 million and $ 7 million, respectively, related to these programs recorded in receivables , net on our consolidated balance sheets. | text | 7 | monetaryItemType | text: <entity> 7 </entity> <entity type> monetaryItemType </entity type> <context> —We receive government subsidies, primarily in the form of cash, related to expenses such as salaries, wages, and taxes. The subsidies are recorded when there is reasonable assurance the conditions of the subsidies will be met and the subsidies will be received. The subsidies are recognized as a benefit against the related expense on our consolidated statements of income over the period that the subsidies are intended to compensate. Our subsidies primarily relate to the Coronavirus Aid, Relief, and Economic Security ("CARES") Act and the American Rescue Plan Act of 2021 ("ARPA"). The CARES Act, enacted in March 2020, as well as subsequently enacted legislation, including ARPA, provided economic support due to the COVID-19 pandemic. The CARES Act included an employee retention credit, which is a refundable tax credit against certain employment taxes. ARPA provided a refundable subsidy tax credit to employers to offset the costs of COBRA coverage for certain qualified employees from April 1, 2021 through September 30, 2021. During the years ended December 31, 2024, December 31, 2023, and December 31, 2022, we received $ 2 million, $ 19 million, and $ 6 million, respectively, of government assistance related to these programs in the form of cash. The benefit from the government subsidies was primarily recognized against the related expenses in prior periods. At December 31, 2024 and December 31, 2023, we had $ 5 million and $ 7 million, respectively, related to these programs recorded in receivables , net on our consolidated balance sheets. </context> | us-gaap:GovernmentAssistanceAmountCumulative |
—During the year ended December 31, 2024, we entered into a shareholders' agreement with an unrelated third-party and acquired 50 % of the outstanding shares of Management Hotelero Piñero, S.L. The joint venture, which is a VIE, owns the Bahia Principe brand and manages Bahia Principe Hotels & Resorts-branded properties (see Note 7). Through our variable interest, we have the power to direct the activities that most significantly affect the economic performance of the VIE and have the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE and therefore, we are the primary beneficiary. We consolidate the operating results and financial position of this VIE in our consolidated financial statements within our management and franchising segment. | text | 50 | percentItemType | text: <entity> 50 </entity> <entity type> percentItemType </entity type> <context> —During the year ended December 31, 2024, we entered into a shareholders' agreement with an unrelated third-party and acquired 50 % of the outstanding shares of Management Hotelero Piñero, S.L. The joint venture, which is a VIE, owns the Bahia Principe brand and manages Bahia Principe Hotels & Resorts-branded properties (see Note 7). Through our variable interest, we have the power to direct the activities that most significantly affect the economic performance of the VIE and have the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE and therefore, we are the primary beneficiary. We consolidate the operating results and financial position of this VIE in our consolidated financial statements within our management and franchising segment. </context> | us-gaap:VariableInterestEntityOwnershipPercentage |
—During the year ended December 31, 2024, we completed the UVC Transaction and accounted for the sale of our controlling financial interest in the entity as a business disposition. We received $ 41 million of proceeds, net of $ 39 million of cash disposed; recorded a $ 20 million equity method investment representing the fair value of our retained investment in the entity; and recorded $ 86 million of guarantee liabilities as described below. The transaction resulted in a $ 231 million pre-tax gain, which was recognized in gains (losses) on sales of real estate and other on our consolidated statements of income during the year ended December 31, 2024. We continue to manage the Unlimited Vacation Club business under a long-term management agreement and license and royalty agreement. The operating results of the Unlimited Vacation Club business prior to the UVC Transaction are reported within our distribution segment. | text | 41 | monetaryItemType | text: <entity> 41 </entity> <entity type> monetaryItemType </entity type> <context> —During the year ended December 31, 2024, we completed the UVC Transaction and accounted for the sale of our controlling financial interest in the entity as a business disposition. We received $ 41 million of proceeds, net of $ 39 million of cash disposed; recorded a $ 20 million equity method investment representing the fair value of our retained investment in the entity; and recorded $ 86 million of guarantee liabilities as described below. The transaction resulted in a $ 231 million pre-tax gain, which was recognized in gains (losses) on sales of real estate and other on our consolidated statements of income during the year ended December 31, 2024. We continue to manage the Unlimited Vacation Club business under a long-term management agreement and license and royalty agreement. The operating results of the Unlimited Vacation Club business prior to the UVC Transaction are reported within our distribution segment. </context> | us-gaap:ProceedsFromDivestitureOfBusinesses |
—During the year ended December 31, 2024, we completed the UVC Transaction and accounted for the sale of our controlling financial interest in the entity as a business disposition. We received $ 41 million of proceeds, net of $ 39 million of cash disposed; recorded a $ 20 million equity method investment representing the fair value of our retained investment in the entity; and recorded $ 86 million of guarantee liabilities as described below. The transaction resulted in a $ 231 million pre-tax gain, which was recognized in gains (losses) on sales of real estate and other on our consolidated statements of income during the year ended December 31, 2024. We continue to manage the Unlimited Vacation Club business under a long-term management agreement and license and royalty agreement. The operating results of the Unlimited Vacation Club business prior to the UVC Transaction are reported within our distribution segment. | text | 39 | monetaryItemType | text: <entity> 39 </entity> <entity type> monetaryItemType </entity type> <context> —During the year ended December 31, 2024, we completed the UVC Transaction and accounted for the sale of our controlling financial interest in the entity as a business disposition. We received $ 41 million of proceeds, net of $ 39 million of cash disposed; recorded a $ 20 million equity method investment representing the fair value of our retained investment in the entity; and recorded $ 86 million of guarantee liabilities as described below. The transaction resulted in a $ 231 million pre-tax gain, which was recognized in gains (losses) on sales of real estate and other on our consolidated statements of income during the year ended December 31, 2024. We continue to manage the Unlimited Vacation Club business under a long-term management agreement and license and royalty agreement. The operating results of the Unlimited Vacation Club business prior to the UVC Transaction are reported within our distribution segment. </context> | us-gaap:CashDivestedFromDeconsolidation |
—During the year ended December 31, 2024, we completed the UVC Transaction and accounted for the sale of our controlling financial interest in the entity as a business disposition. We received $ 41 million of proceeds, net of $ 39 million of cash disposed; recorded a $ 20 million equity method investment representing the fair value of our retained investment in the entity; and recorded $ 86 million of guarantee liabilities as described below. The transaction resulted in a $ 231 million pre-tax gain, which was recognized in gains (losses) on sales of real estate and other on our consolidated statements of income during the year ended December 31, 2024. We continue to manage the Unlimited Vacation Club business under a long-term management agreement and license and royalty agreement. The operating results of the Unlimited Vacation Club business prior to the UVC Transaction are reported within our distribution segment. | text | 20 | monetaryItemType | text: <entity> 20 </entity> <entity type> monetaryItemType </entity type> <context> —During the year ended December 31, 2024, we completed the UVC Transaction and accounted for the sale of our controlling financial interest in the entity as a business disposition. We received $ 41 million of proceeds, net of $ 39 million of cash disposed; recorded a $ 20 million equity method investment representing the fair value of our retained investment in the entity; and recorded $ 86 million of guarantee liabilities as described below. The transaction resulted in a $ 231 million pre-tax gain, which was recognized in gains (losses) on sales of real estate and other on our consolidated statements of income during the year ended December 31, 2024. We continue to manage the Unlimited Vacation Club business under a long-term management agreement and license and royalty agreement. The operating results of the Unlimited Vacation Club business prior to the UVC Transaction are reported within our distribution segment. </context> | us-gaap:EquityMethodInvestments |
—During the year ended December 31, 2024, we completed the UVC Transaction and accounted for the sale of our controlling financial interest in the entity as a business disposition. We received $ 41 million of proceeds, net of $ 39 million of cash disposed; recorded a $ 20 million equity method investment representing the fair value of our retained investment in the entity; and recorded $ 86 million of guarantee liabilities as described below. The transaction resulted in a $ 231 million pre-tax gain, which was recognized in gains (losses) on sales of real estate and other on our consolidated statements of income during the year ended December 31, 2024. We continue to manage the Unlimited Vacation Club business under a long-term management agreement and license and royalty agreement. The operating results of the Unlimited Vacation Club business prior to the UVC Transaction are reported within our distribution segment. | text | 86 | monetaryItemType | text: <entity> 86 </entity> <entity type> monetaryItemType </entity type> <context> —During the year ended December 31, 2024, we completed the UVC Transaction and accounted for the sale of our controlling financial interest in the entity as a business disposition. We received $ 41 million of proceeds, net of $ 39 million of cash disposed; recorded a $ 20 million equity method investment representing the fair value of our retained investment in the entity; and recorded $ 86 million of guarantee liabilities as described below. The transaction resulted in a $ 231 million pre-tax gain, which was recognized in gains (losses) on sales of real estate and other on our consolidated statements of income during the year ended December 31, 2024. We continue to manage the Unlimited Vacation Club business under a long-term management agreement and license and royalty agreement. The operating results of the Unlimited Vacation Club business prior to the UVC Transaction are reported within our distribution segment. </context> | us-gaap:GuaranteeObligationsCurrentCarryingValue |
—During the year ended December 31, 2024, we completed the UVC Transaction and accounted for the sale of our controlling financial interest in the entity as a business disposition. We received $ 41 million of proceeds, net of $ 39 million of cash disposed; recorded a $ 20 million equity method investment representing the fair value of our retained investment in the entity; and recorded $ 86 million of guarantee liabilities as described below. The transaction resulted in a $ 231 million pre-tax gain, which was recognized in gains (losses) on sales of real estate and other on our consolidated statements of income during the year ended December 31, 2024. We continue to manage the Unlimited Vacation Club business under a long-term management agreement and license and royalty agreement. The operating results of the Unlimited Vacation Club business prior to the UVC Transaction are reported within our distribution segment. | text | 231 | monetaryItemType | text: <entity> 231 </entity> <entity type> monetaryItemType </entity type> <context> —During the year ended December 31, 2024, we completed the UVC Transaction and accounted for the sale of our controlling financial interest in the entity as a business disposition. We received $ 41 million of proceeds, net of $ 39 million of cash disposed; recorded a $ 20 million equity method investment representing the fair value of our retained investment in the entity; and recorded $ 86 million of guarantee liabilities as described below. The transaction resulted in a $ 231 million pre-tax gain, which was recognized in gains (losses) on sales of real estate and other on our consolidated statements of income during the year ended December 31, 2024. We continue to manage the Unlimited Vacation Club business under a long-term management agreement and license and royalty agreement. The operating results of the Unlimited Vacation Club business prior to the UVC Transaction are reported within our distribution segment. </context> | us-gaap:DisposalGroupNotDiscontinuedOperationGainLossOnDisposal |
In conjunction with the transaction, we agreed to guarantee up to $ 70 million of our hospitality venture partner's investment upon the occurrence of certain events, and we recorded a $ 25 million guarantee liability at fair value in other long-term liabilities on our consolidated balance sheet. The fair value was estimated using the with and without method, which includes projected cash flows based on contract terms. The valuation methodology includes assumptions and judgments regarding discount rates and length of time, which are primarily Level Three assumptions. | text | 70 | monetaryItemType | text: <entity> 70 </entity> <entity type> monetaryItemType </entity type> <context> In conjunction with the transaction, we agreed to guarantee up to $ 70 million of our hospitality venture partner's investment upon the occurrence of certain events, and we recorded a $ 25 million guarantee liability at fair value in other long-term liabilities on our consolidated balance sheet. The fair value was estimated using the with and without method, which includes projected cash flows based on contract terms. The valuation methodology includes assumptions and judgments regarding discount rates and length of time, which are primarily Level Three assumptions. </context> | us-gaap:GuaranteeObligationsMaximumExposure |
In conjunction with the transaction, we agreed to guarantee up to $ 70 million of our hospitality venture partner's investment upon the occurrence of certain events, and we recorded a $ 25 million guarantee liability at fair value in other long-term liabilities on our consolidated balance sheet. The fair value was estimated using the with and without method, which includes projected cash flows based on contract terms. The valuation methodology includes assumptions and judgments regarding discount rates and length of time, which are primarily Level Three assumptions. | text | 25 | monetaryItemType | text: <entity> 25 </entity> <entity type> monetaryItemType </entity type> <context> In conjunction with the transaction, we agreed to guarantee up to $ 70 million of our hospitality venture partner's investment upon the occurrence of certain events, and we recorded a $ 25 million guarantee liability at fair value in other long-term liabilities on our consolidated balance sheet. The fair value was estimated using the with and without method, which includes projected cash flows based on contract terms. The valuation methodology includes assumptions and judgments regarding discount rates and length of time, which are primarily Level Three assumptions. </context> | us-gaap:GuaranteeObligationsCurrentCarryingValue |
income taxes payable related to the uncertain tax positions and recorded a $ 61 million guarantee liability at fair value in other long-term liabilities on our consolidated balance sheet. The fair value of the indemnification was estimated using a probability-based weighting approach to determine the likelihood of payment of the tax liability, penalties, and interest related to the 2013 through 2018 tax years. The valuation methodology includes assumptions and judgments regarding probability weighting, discount rates, and expected timing of cash flows, which are primarily Level Three assumptions. At December 31, 2024, the indemnification for open tax years had a maximum exposure of $ 72 million. | text | 61 | monetaryItemType | text: <entity> 61 </entity> <entity type> monetaryItemType </entity type> <context> income taxes payable related to the uncertain tax positions and recorded a $ 61 million guarantee liability at fair value in other long-term liabilities on our consolidated balance sheet. The fair value of the indemnification was estimated using a probability-based weighting approach to determine the likelihood of payment of the tax liability, penalties, and interest related to the 2013 through 2018 tax years. The valuation methodology includes assumptions and judgments regarding probability weighting, discount rates, and expected timing of cash flows, which are primarily Level Three assumptions. At December 31, 2024, the indemnification for open tax years had a maximum exposure of $ 72 million. </context> | us-gaap:GuaranteeObligationsCurrentCarryingValue |
income taxes payable related to the uncertain tax positions and recorded a $ 61 million guarantee liability at fair value in other long-term liabilities on our consolidated balance sheet. The fair value of the indemnification was estimated using a probability-based weighting approach to determine the likelihood of payment of the tax liability, penalties, and interest related to the 2013 through 2018 tax years. The valuation methodology includes assumptions and judgments regarding probability weighting, discount rates, and expected timing of cash flows, which are primarily Level Three assumptions. At December 31, 2024, the indemnification for open tax years had a maximum exposure of $ 72 million. | text | 72 | monetaryItemType | text: <entity> 72 </entity> <entity type> monetaryItemType </entity type> <context> income taxes payable related to the uncertain tax positions and recorded a $ 61 million guarantee liability at fair value in other long-term liabilities on our consolidated balance sheet. The fair value of the indemnification was estimated using a probability-based weighting approach to determine the likelihood of payment of the tax liability, penalties, and interest related to the 2013 through 2018 tax years. The valuation methodology includes assumptions and judgments regarding probability weighting, discount rates, and expected timing of cash flows, which are primarily Level Three assumptions. At December 31, 2024, the indemnification for open tax years had a maximum exposure of $ 72 million. </context> | us-gaap:GuaranteeObligationsMaximumExposure |
The entity that owns the Unlimited Vacation Club business is a VIE in which we hold a variable interest but are not the primary beneficiary, and we account for our common ownership interest as an equity method investment. At December 31, 2024, we had $ 68 million recorded in other long-term liabilities (see Note | text | 68 | monetaryItemType | text: <entity> 68 </entity> <entity type> monetaryItemType </entity type> <context> The entity that owns the Unlimited Vacation Club business is a VIE in which we hold a variable interest but are not the primary beneficiary, and we account for our common ownership interest as an equity method investment. At December 31, 2024, we had $ 68 million recorded in other long-term liabilities (see Note </context> | us-gaap:OtherLiabilitiesNoncurrent |
During the year ended December 31, 2024, we recognized $ 15 million of impairment charges, primarily related to two of our unconsolidated hospitality ventures in equity earnings (losses) from unconsolidated hospitality ventures on our consolidated statements of income as the estimated fair values were less than the carrying values, and the impairments were deemed other than temporary. We estimated the fair values of our investments, which are classified as Level Three in the hierarchy, using an internally-developed cash flow model, which included assumptions and judgments regarding projected future cash flows, discount rate, and capitalization rate. | text | 15 | monetaryItemType | text: <entity> 15 </entity> <entity type> monetaryItemType </entity type> <context> During the year ended December 31, 2024, we recognized $ 15 million of impairment charges, primarily related to two of our unconsolidated hospitality ventures in equity earnings (losses) from unconsolidated hospitality ventures on our consolidated statements of income as the estimated fair values were less than the carrying values, and the impairments were deemed other than temporary. We estimated the fair values of our investments, which are classified as Level Three in the hierarchy, using an internally-developed cash flow model, which included assumptions and judgments regarding projected future cash flows, discount rate, and capitalization rate. </context> | us-gaap:EquityMethodInvestmentOtherThanTemporaryImpairment |
—During the year ended December 31, 2023, we acquired 50 % of the outstanding shares of a third-party entity that owns three of our managed properties in India in exchange for the non-cash redemption of a HTM debt security. Upon completion, Juniper Hotels Limited acquired 100 % of the outstanding shares of the entity, and we recorded a $ 32 million equity method investment. | text | 50 | percentItemType | text: <entity> 50 </entity> <entity type> percentItemType </entity type> <context> —During the year ended December 31, 2023, we acquired 50 % of the outstanding shares of a third-party entity that owns three of our managed properties in India in exchange for the non-cash redemption of a HTM debt security. Upon completion, Juniper Hotels Limited acquired 100 % of the outstanding shares of the entity, and we recorded a $ 32 million equity method investment. </context> | us-gaap:EquityMethodInvestmentOwnershipPercentage |
—During the year ended December 31, 2023, we acquired 50 % of the outstanding shares of a third-party entity that owns three of our managed properties in India in exchange for the non-cash redemption of a HTM debt security. Upon completion, Juniper Hotels Limited acquired 100 % of the outstanding shares of the entity, and we recorded a $ 32 million equity method investment. | text | three | integerItemType | text: <entity> three </entity> <entity type> integerItemType </entity type> <context> —During the year ended December 31, 2023, we acquired 50 % of the outstanding shares of a third-party entity that owns three of our managed properties in India in exchange for the non-cash redemption of a HTM debt security. Upon completion, Juniper Hotels Limited acquired 100 % of the outstanding shares of the entity, and we recorded a $ 32 million equity method investment. </context> | us-gaap:NumberOfRealEstateProperties |
—During the year ended December 31, 2023, we acquired 50 % of the outstanding shares of a third-party entity that owns three of our managed properties in India in exchange for the non-cash redemption of a HTM debt security. Upon completion, Juniper Hotels Limited acquired 100 % of the outstanding shares of the entity, and we recorded a $ 32 million equity method investment. | text | 100 | percentItemType | text: <entity> 100 </entity> <entity type> percentItemType </entity type> <context> —During the year ended December 31, 2023, we acquired 50 % of the outstanding shares of a third-party entity that owns three of our managed properties in India in exchange for the non-cash redemption of a HTM debt security. Upon completion, Juniper Hotels Limited acquired 100 % of the outstanding shares of the entity, and we recorded a $ 32 million equity method investment. </context> | us-gaap:EquityMethodInvestmentOwnershipPercentage |
—During the year ended December 31, 2023, we acquired 50 % of the outstanding shares of a third-party entity that owns three of our managed properties in India in exchange for the non-cash redemption of a HTM debt security. Upon completion, Juniper Hotels Limited acquired 100 % of the outstanding shares of the entity, and we recorded a $ 32 million equity method investment. | text | 32 | monetaryItemType | text: <entity> 32 </entity> <entity type> monetaryItemType </entity type> <context> —During the year ended December 31, 2023, we acquired 50 % of the outstanding shares of a third-party entity that owns three of our managed properties in India in exchange for the non-cash redemption of a HTM debt security. Upon completion, Juniper Hotels Limited acquired 100 % of the outstanding shares of the entity, and we recorded a $ 32 million equity method investment. </context> | us-gaap:EquityMethodInvestments |
On September 28, 2023, our unconsolidated hospitality venture publicly filed a draft red herring prospectus with the Securities and Exchange Board of India in conjunction with a proposed initial public offering ("IPO") of equity shares, subject to market conditions and regulatory approvals. On February 28, 2024, Juniper Hotels Limited completed its IPO on the BSE Limited and National Stock Exchange of India Limited stock exchanges and issued 50,000,000 equity shares. Both prior and subsequent to the IPO, we hold 86,251,192 equity shares in the entity. At December 31, 2024, the aggregate value of our equity shares was $ 354 million based on the price per share of the principal market. | text | 50000000 | sharesItemType | text: <entity> 50000000 </entity> <entity type> sharesItemType </entity type> <context> On September 28, 2023, our unconsolidated hospitality venture publicly filed a draft red herring prospectus with the Securities and Exchange Board of India in conjunction with a proposed initial public offering ("IPO") of equity shares, subject to market conditions and regulatory approvals. On February 28, 2024, Juniper Hotels Limited completed its IPO on the BSE Limited and National Stock Exchange of India Limited stock exchanges and issued 50,000,000 equity shares. Both prior and subsequent to the IPO, we hold 86,251,192 equity shares in the entity. At December 31, 2024, the aggregate value of our equity shares was $ 354 million based on the price per share of the principal market. </context> | us-gaap:SaleOfStockNumberOfSharesIssuedInTransaction |
On September 28, 2023, our unconsolidated hospitality venture publicly filed a draft red herring prospectus with the Securities and Exchange Board of India in conjunction with a proposed initial public offering ("IPO") of equity shares, subject to market conditions and regulatory approvals. On February 28, 2024, Juniper Hotels Limited completed its IPO on the BSE Limited and National Stock Exchange of India Limited stock exchanges and issued 50,000,000 equity shares. Both prior and subsequent to the IPO, we hold 86,251,192 equity shares in the entity. At December 31, 2024, the aggregate value of our equity shares was $ 354 million based on the price per share of the principal market. | text | 86251192 | sharesItemType | text: <entity> 86251192 </entity> <entity type> sharesItemType </entity type> <context> On September 28, 2023, our unconsolidated hospitality venture publicly filed a draft red herring prospectus with the Securities and Exchange Board of India in conjunction with a proposed initial public offering ("IPO") of equity shares, subject to market conditions and regulatory approvals. On February 28, 2024, Juniper Hotels Limited completed its IPO on the BSE Limited and National Stock Exchange of India Limited stock exchanges and issued 50,000,000 equity shares. Both prior and subsequent to the IPO, we hold 86,251,192 equity shares in the entity. At December 31, 2024, the aggregate value of our equity shares was $ 354 million based on the price per share of the principal market. </context> | us-gaap:InvestmentOwnedBalanceShares |
On September 28, 2023, our unconsolidated hospitality venture publicly filed a draft red herring prospectus with the Securities and Exchange Board of India in conjunction with a proposed initial public offering ("IPO") of equity shares, subject to market conditions and regulatory approvals. On February 28, 2024, Juniper Hotels Limited completed its IPO on the BSE Limited and National Stock Exchange of India Limited stock exchanges and issued 50,000,000 equity shares. Both prior and subsequent to the IPO, we hold 86,251,192 equity shares in the entity. At December 31, 2024, the aggregate value of our equity shares was $ 354 million based on the price per share of the principal market. | text | 354 | monetaryItemType | text: <entity> 354 </entity> <entity type> monetaryItemType </entity type> <context> On September 28, 2023, our unconsolidated hospitality venture publicly filed a draft red herring prospectus with the Securities and Exchange Board of India in conjunction with a proposed initial public offering ("IPO") of equity shares, subject to market conditions and regulatory approvals. On February 28, 2024, Juniper Hotels Limited completed its IPO on the BSE Limited and National Stock Exchange of India Limited stock exchanges and issued 50,000,000 equity shares. Both prior and subsequent to the IPO, we hold 86,251,192 equity shares in the entity. At December 31, 2024, the aggregate value of our equity shares was $ 354 million based on the price per share of the principal market. </context> | us-gaap:EquityMethodInvestments |
As a result of the IPO, our ownership interest in the unconsolidated hospitality venture was diluted from 50.0 % to 38.8 %. As we maintain the ability to significantly influence the operations of the entity, we recorded an increase to our equity method investment and recognized a $ 79 million non-cash pre-tax dilution gain in equity earnings (losses) from unconsolidated hospitality ventures on our consolidated statements of income during the year ended December 31, 2024. | text | 50.0 | percentItemType | text: <entity> 50.0 </entity> <entity type> percentItemType </entity type> <context> As a result of the IPO, our ownership interest in the unconsolidated hospitality venture was diluted from 50.0 % to 38.8 %. As we maintain the ability to significantly influence the operations of the entity, we recorded an increase to our equity method investment and recognized a $ 79 million non-cash pre-tax dilution gain in equity earnings (losses) from unconsolidated hospitality ventures on our consolidated statements of income during the year ended December 31, 2024. </context> | us-gaap:EquityMethodInvestmentOwnershipPercentage |
As a result of the IPO, our ownership interest in the unconsolidated hospitality venture was diluted from 50.0 % to 38.8 %. As we maintain the ability to significantly influence the operations of the entity, we recorded an increase to our equity method investment and recognized a $ 79 million non-cash pre-tax dilution gain in equity earnings (losses) from unconsolidated hospitality ventures on our consolidated statements of income during the year ended December 31, 2024. | text | 38.8 | percentItemType | text: <entity> 38.8 </entity> <entity type> percentItemType </entity type> <context> As a result of the IPO, our ownership interest in the unconsolidated hospitality venture was diluted from 50.0 % to 38.8 %. As we maintain the ability to significantly influence the operations of the entity, we recorded an increase to our equity method investment and recognized a $ 79 million non-cash pre-tax dilution gain in equity earnings (losses) from unconsolidated hospitality ventures on our consolidated statements of income during the year ended December 31, 2024. </context> | us-gaap:EquityMethodInvestmentOwnershipPercentage |
quity method investment and recognized an $ 8 million pre-tax gain in equity earnings (losses) from unconsolidated hospitality ventures on our consolidated statements of income, net of a $ 2 million reclassification from accumulated other comprehensive loss (see Note | text | 8 | monetaryItemType | text: <entity> 8 </entity> <entity type> monetaryItemType </entity type> <context> quity method investment and recognized an $ 8 million pre-tax gain in equity earnings (losses) from unconsolidated hospitality ventures on our consolidated statements of income, net of a $ 2 million reclassification from accumulated other comprehensive loss (see Note </context> | us-gaap:EquityMethodInvestmentRealizedGainLossOnDisposal |
quity method investment and recognized an $ 8 million pre-tax gain in equity earnings (losses) from unconsolidated hospitality ventures on our consolidated statements of income, net of a $ 2 million reclassification from accumulated other comprehensive loss (see Note | text | 2 | monetaryItemType | text: <entity> 2 </entity> <entity type> monetaryItemType </entity type> <context> quity method investment and recognized an $ 8 million pre-tax gain in equity earnings (losses) from unconsolidated hospitality ventures on our consolidated statements of income, net of a $ 2 million reclassification from accumulated other comprehensive loss (see Note </context> | us-gaap:ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax |
. At the time of sale, we had $ 28 million of outstanding financing receivables related to the unconsolidated hospitality venture, which were repaid in conjunction with the sale. | text | 28 | monetaryItemType | text: <entity> 28 </entity> <entity type> monetaryItemType </entity type> <context> . At the time of sale, we had $ 28 million of outstanding financing receivables related to the unconsolidated hospitality venture, which were repaid in conjunction with the sale. </context> | us-gaap:NotesReceivableNet |
—During the year ended December 31, 2024, we received $ 16 million of proceeds related to the sale of our ownership interest in an e | text | 16 | monetaryItemType | text: <entity> 16 </entity> <entity type> monetaryItemType </entity type> <context> —During the year ended December 31, 2024, we received $ 16 million of proceeds related to the sale of our ownership interest in an e </context> | us-gaap:ProceedsFromSaleOfEquityMethodInvestments |
quity method investment and recognized a $ 12 million pre-tax gain in equity earnings (losses) from unconsolidated hospitality ventures on our consolidated statements of income. Following the sale, we continue to manage the related property under a long-term management agreement. | text | 12 | monetaryItemType | text: <entity> 12 </entity> <entity type> monetaryItemType </entity type> <context> quity method investment and recognized a $ 12 million pre-tax gain in equity earnings (losses) from unconsolidated hospitality ventures on our consolidated statements of income. Following the sale, we continue to manage the related property under a long-term management agreement. </context> | us-gaap:EquityMethodInvestmentRealizedGainLossOnDisposal |
During the year ended December 31, 2022, we received $ 23 million of proceeds related to the sale of our ownership interest in an equity method investment and recognized a $ 4 million pre-tax gain in equity earnings (losses) from unconsolidated hospitality ventures on our consolidated statements of income, net of a $ 5 million reclassification from accumulated other comprehensive loss. | text | 23 | monetaryItemType | text: <entity> 23 </entity> <entity type> monetaryItemType </entity type> <context> During the year ended December 31, 2022, we received $ 23 million of proceeds related to the sale of our ownership interest in an equity method investment and recognized a $ 4 million pre-tax gain in equity earnings (losses) from unconsolidated hospitality ventures on our consolidated statements of income, net of a $ 5 million reclassification from accumulated other comprehensive loss. </context> | us-gaap:ProceedsFromSaleOfEquityMethodInvestments |
During the year ended December 31, 2022, we received $ 23 million of proceeds related to the sale of our ownership interest in an equity method investment and recognized a $ 4 million pre-tax gain in equity earnings (losses) from unconsolidated hospitality ventures on our consolidated statements of income, net of a $ 5 million reclassification from accumulated other comprehensive loss. | text | 4 | monetaryItemType | text: <entity> 4 </entity> <entity type> monetaryItemType </entity type> <context> During the year ended December 31, 2022, we received $ 23 million of proceeds related to the sale of our ownership interest in an equity method investment and recognized a $ 4 million pre-tax gain in equity earnings (losses) from unconsolidated hospitality ventures on our consolidated statements of income, net of a $ 5 million reclassification from accumulated other comprehensive loss. </context> | us-gaap:EquityMethodInvestmentRealizedGainLossOnDisposal |
During the year ended December 31, 2022, we received $ 23 million of proceeds related to the sale of our ownership interest in an equity method investment and recognized a $ 4 million pre-tax gain in equity earnings (losses) from unconsolidated hospitality ventures on our consolidated statements of income, net of a $ 5 million reclassification from accumulated other comprehensive loss. | text | 5 | monetaryItemType | text: <entity> 5 </entity> <entity type> monetaryItemType </entity type> <context> During the year ended December 31, 2022, we received $ 23 million of proceeds related to the sale of our ownership interest in an equity method investment and recognized a $ 4 million pre-tax gain in equity earnings (losses) from unconsolidated hospitality ventures on our consolidated statements of income, net of a $ 5 million reclassification from accumulated other comprehensive loss. </context> | us-gaap:ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax |
Additionally, during the year ended December 31, 2022, an equity method investment, in which we hold an ownership interest, sold the underlying hotel to a third party, and we received $ 16 million of proceeds. We recognized a $ 15 million net gain in equity earnings (losses) from unconsolidated hospitality ventures on our consolidated statements of income. Upon sale, we entered into a long-term franchise agreement for the property. | text | 16 | monetaryItemType | text: <entity> 16 </entity> <entity type> monetaryItemType </entity type> <context> Additionally, during the year ended December 31, 2022, an equity method investment, in which we hold an ownership interest, sold the underlying hotel to a third party, and we received $ 16 million of proceeds. We recognized a $ 15 million net gain in equity earnings (losses) from unconsolidated hospitality ventures on our consolidated statements of income. Upon sale, we entered into a long-term franchise agreement for the property. </context> | us-gaap:ProceedsFromSaleOfEquityMethodInvestments |
Additionally, during the year ended December 31, 2022, an equity method investment, in which we hold an ownership interest, sold the underlying hotel to a third party, and we received $ 16 million of proceeds. We recognized a $ 15 million net gain in equity earnings (losses) from unconsolidated hospitality ventures on our consolidated statements of income. Upon sale, we entered into a long-term franchise agreement for the property. | text | 15 | monetaryItemType | text: <entity> 15 </entity> <entity type> monetaryItemType </entity type> <context> Additionally, during the year ended December 31, 2022, an equity method investment, in which we hold an ownership interest, sold the underlying hotel to a third party, and we received $ 16 million of proceeds. We recognized a $ 15 million net gain in equity earnings (losses) from unconsolidated hospitality ventures on our consolidated statements of income. Upon sale, we entered into a long-term franchise agreement for the property. </context> | us-gaap:EquityMethodInvestmentRealizedGainLossOnDisposal |
$ 473 million and $ 330 million, respectively, of AFS debt securities with contractual maturity dates ranging from 2025 through 2069. The amortized cost of our AFS debt securities approximates fair value; | text | 473 | monetaryItemType | text: <entity> 473 </entity> <entity type> monetaryItemType </entity type> <context> $ 473 million and $ 330 million, respectively, of AFS debt securities with contractual maturity dates ranging from 2025 through 2069. The amortized cost of our AFS debt securities approximates fair value; </context> | us-gaap:AvailableForSaleSecuritiesDebtSecurities |
$ 473 million and $ 330 million, respectively, of AFS debt securities with contractual maturity dates ranging from 2025 through 2069. The amortized cost of our AFS debt securities approximates fair value; | text | 330 | monetaryItemType | text: <entity> 330 </entity> <entity type> monetaryItemType </entity type> <context> $ 473 million and $ 330 million, respectively, of AFS debt securities with contractual maturity dates ranging from 2025 through 2069. The amortized cost of our AFS debt securities approximates fair value; </context> | us-gaap:AvailableForSaleSecuritiesDebtSecurities |
$ 17 million and $ 15 million, respectively, of equity securities with a readily determinable fair value. | text | 17 | monetaryItemType | text: <entity> 17 </entity> <entity type> monetaryItemType </entity type> <context> $ 17 million and $ 15 million, respectively, of equity securities with a readily determinable fair value. </context> | us-gaap:EquitySecuritiesFvNi |
$ 17 million and $ 15 million, respectively, of equity securities with a readily determinable fair value. | text | 15 | monetaryItemType | text: <entity> 15 </entity> <entity type> monetaryItemType </entity type> <context> $ 17 million and $ 15 million, respectively, of equity securities with a readily determinable fair value. </context> | us-gaap:EquitySecuritiesFvNi |
We estimated the fair value of these HTM debt securities to be approximately $ 270 million and $ 41 million at December 31, 2024 and December 31, 2023, respectively. The fair values of our preferred equity investments, which are classified as Level Three in the fair value hierarchy, are estimated using probability-based discounted future cash flow models based on current market inputs for similar types of arrangements. The primary sensitivity in these models is the selection of appropriate discount rates and probability weighting. Fluctuations in these assumptions could result in different estimates of fair value. The remaining HTM debt securities are classified as Level Two in the fair value hierarchy due to the use and weighting of multiple market inputs being considered in the final price of the security. | text | 270 | monetaryItemType | text: <entity> 270 </entity> <entity type> monetaryItemType </entity type> <context> We estimated the fair value of these HTM debt securities to be approximately $ 270 million and $ 41 million at December 31, 2024 and December 31, 2023, respectively. The fair values of our preferred equity investments, which are classified as Level Three in the fair value hierarchy, are estimated using probability-based discounted future cash flow models based on current market inputs for similar types of arrangements. The primary sensitivity in these models is the selection of appropriate discount rates and probability weighting. Fluctuations in these assumptions could result in different estimates of fair value. The remaining HTM debt securities are classified as Level Two in the fair value hierarchy due to the use and weighting of multiple market inputs being considered in the final price of the security. </context> | us-gaap:HeldToMaturitySecuritiesFairValue |
We estimated the fair value of these HTM debt securities to be approximately $ 270 million and $ 41 million at December 31, 2024 and December 31, 2023, respectively. The fair values of our preferred equity investments, which are classified as Level Three in the fair value hierarchy, are estimated using probability-based discounted future cash flow models based on current market inputs for similar types of arrangements. The primary sensitivity in these models is the selection of appropriate discount rates and probability weighting. Fluctuations in these assumptions could result in different estimates of fair value. The remaining HTM debt securities are classified as Level Two in the fair value hierarchy due to the use and weighting of multiple market inputs being considered in the final price of the security. | text | 41 | monetaryItemType | text: <entity> 41 </entity> <entity type> monetaryItemType </entity type> <context> We estimated the fair value of these HTM debt securities to be approximately $ 270 million and $ 41 million at December 31, 2024 and December 31, 2023, respectively. The fair values of our preferred equity investments, which are classified as Level Three in the fair value hierarchy, are estimated using probability-based discounted future cash flow models based on current market inputs for similar types of arrangements. The primary sensitivity in these models is the selection of appropriate discount rates and probability weighting. Fluctuations in these assumptions could result in different estimates of fair value. The remaining HTM debt securities are classified as Level Two in the fair value hierarchy due to the use and weighting of multiple market inputs being considered in the final price of the security. </context> | us-gaap:HeldToMaturitySecuritiesFairValue |
—During the year ended December 31, 2023, we invested in a $ 30 million convertible debt security associated with a franchised property, which is classified as AFS and recorded in other assets on our consolidated balance sheets. The investment has a contractual maturity date in 2029. The convertible debt investment is remeasured at fair value on a recurring basis and is classified as Level Three in the fair value hierarchy. We estimated the fair value of this investment to be $ 42 million and $ 39 million at December 31, 2024 and December 31, 2023, respectively. The fair value is estimated using a discounted future cash flow model, and the primary sensitivity in the model is the selection of an appropriate discount rate. Fluctuations in our assumptions could result in different estimates of fair value. Net unrealized gains recognized on our consolidated financial statements were as follows: | text | 30 | monetaryItemType | text: <entity> 30 </entity> <entity type> monetaryItemType </entity type> <context> —During the year ended December 31, 2023, we invested in a $ 30 million convertible debt security associated with a franchised property, which is classified as AFS and recorded in other assets on our consolidated balance sheets. The investment has a contractual maturity date in 2029. The convertible debt investment is remeasured at fair value on a recurring basis and is classified as Level Three in the fair value hierarchy. We estimated the fair value of this investment to be $ 42 million and $ 39 million at December 31, 2024 and December 31, 2023, respectively. The fair value is estimated using a discounted future cash flow model, and the primary sensitivity in the model is the selection of an appropriate discount rate. Fluctuations in our assumptions could result in different estimates of fair value. Net unrealized gains recognized on our consolidated financial statements were as follows: </context> | us-gaap:PaymentsToAcquireAvailableForSaleSecuritiesDebt |
—During the year ended December 31, 2023, we invested in a $ 30 million convertible debt security associated with a franchised property, which is classified as AFS and recorded in other assets on our consolidated balance sheets. The investment has a contractual maturity date in 2029. The convertible debt investment is remeasured at fair value on a recurring basis and is classified as Level Three in the fair value hierarchy. We estimated the fair value of this investment to be $ 42 million and $ 39 million at December 31, 2024 and December 31, 2023, respectively. The fair value is estimated using a discounted future cash flow model, and the primary sensitivity in the model is the selection of an appropriate discount rate. Fluctuations in our assumptions could result in different estimates of fair value. Net unrealized gains recognized on our consolidated financial statements were as follows: | text | 42 | monetaryItemType | text: <entity> 42 </entity> <entity type> monetaryItemType </entity type> <context> —During the year ended December 31, 2023, we invested in a $ 30 million convertible debt security associated with a franchised property, which is classified as AFS and recorded in other assets on our consolidated balance sheets. The investment has a contractual maturity date in 2029. The convertible debt investment is remeasured at fair value on a recurring basis and is classified as Level Three in the fair value hierarchy. We estimated the fair value of this investment to be $ 42 million and $ 39 million at December 31, 2024 and December 31, 2023, respectively. The fair value is estimated using a discounted future cash flow model, and the primary sensitivity in the model is the selection of an appropriate discount rate. Fluctuations in our assumptions could result in different estimates of fair value. Net unrealized gains recognized on our consolidated financial statements were as follows: </context> | us-gaap:AvailableForSaleSecuritiesDebtSecurities |
—During the year ended December 31, 2023, we invested in a $ 30 million convertible debt security associated with a franchised property, which is classified as AFS and recorded in other assets on our consolidated balance sheets. The investment has a contractual maturity date in 2029. The convertible debt investment is remeasured at fair value on a recurring basis and is classified as Level Three in the fair value hierarchy. We estimated the fair value of this investment to be $ 42 million and $ 39 million at December 31, 2024 and December 31, 2023, respectively. The fair value is estimated using a discounted future cash flow model, and the primary sensitivity in the model is the selection of an appropriate discount rate. Fluctuations in our assumptions could result in different estimates of fair value. Net unrealized gains recognized on our consolidated financial statements were as follows: | text | 39 | monetaryItemType | text: <entity> 39 </entity> <entity type> monetaryItemType </entity type> <context> —During the year ended December 31, 2023, we invested in a $ 30 million convertible debt security associated with a franchised property, which is classified as AFS and recorded in other assets on our consolidated balance sheets. The investment has a contractual maturity date in 2029. The convertible debt investment is remeasured at fair value on a recurring basis and is classified as Level Three in the fair value hierarchy. We estimated the fair value of this investment to be $ 42 million and $ 39 million at December 31, 2024 and December 31, 2023, respectively. The fair value is estimated using a discounted future cash flow model, and the primary sensitivity in the model is the selection of an appropriate discount rate. Fluctuations in our assumptions could result in different estimates of fair value. Net unrealized gains recognized on our consolidated financial statements were as follows: </context> | us-gaap:AvailableForSaleSecuritiesDebtSecurities |
—At December 31, 2024 and December 31, 2023, we held $ 12 million and $ 16 million, respectively, of investments in equity securities without a readily determinable fair value, which are recorded within other assets on our consolidated balance sheets and represent investments in entities where we do not have the ability to significantly influence the operations of the entity. | text | 12 | monetaryItemType | text: <entity> 12 </entity> <entity type> monetaryItemType </entity type> <context> —At December 31, 2024 and December 31, 2023, we held $ 12 million and $ 16 million, respectively, of investments in equity securities without a readily determinable fair value, which are recorded within other assets on our consolidated balance sheets and represent investments in entities where we do not have the ability to significantly influence the operations of the entity. </context> | us-gaap:EquitySecuritiesWithoutReadilyDeterminableFairValueAmount |
—At December 31, 2024 and December 31, 2023, we held $ 12 million and $ 16 million, respectively, of investments in equity securities without a readily determinable fair value, which are recorded within other assets on our consolidated balance sheets and represent investments in entities where we do not have the ability to significantly influence the operations of the entity. | text | 16 | monetaryItemType | text: <entity> 16 </entity> <entity type> monetaryItemType </entity type> <context> —At December 31, 2024 and December 31, 2023, we held $ 12 million and $ 16 million, respectively, of investments in equity securities without a readily determinable fair value, which are recorded within other assets on our consolidated balance sheets and represent investments in entities where we do not have the ability to significantly influence the operations of the entity. </context> | us-gaap:EquitySecuritiesWithoutReadilyDeterminableFairValueAmount |
Due to ongoing operating cash flow shortfalls in the business underlying an equity security during the year ended December 31, 2024, we recognized a $ 5 million impairment charge of our full investment balance in other income (loss), net on our consolidated statements of income (see Note 21) as the carrying value was in excess of the fair value. | text | 5 | monetaryItemType | text: <entity> 5 </entity> <entity type> monetaryItemType </entity type> <context> Due to ongoing operating cash flow shortfalls in the business underlying an equity security during the year ended December 31, 2024, we recognized a $ 5 million impairment charge of our full investment balance in other income (loss), net on our consolidated statements of income (see Note 21) as the carrying value was in excess of the fair value. </context> | us-gaap:EquitySecuritiesWithoutReadilyDeterminableFairValueImpairmentLossAnnualAmount |
During the year ended December 31, 2024, we identified changes in circumstances that indicated that the carrying values of certain asset groups, inclusive of property and equipment and operating lease ROU assets (see Note 8), may not be recoverable. We assessed the recoverability of the net book values and determined that the carrying values of certain asset groups were not fully recoverable. We then estimated the fair values of these assets, which are classified as Level Three in the hierarchy, using pending third-party offers or internally-developed cash flow models, which incorporated cash flow assumptions based on current economic trends, historical experience, and future growth projections. We determined that the carrying values of certain asset groups were in excess of the fair values, and we allocated the impairment charges to the long-lived assets within the asset group. We recognized $ 21 million of impairment charges related to property and equipment. The impairment charges were recognized in asset impairments on our consolidated statements of income during the year ended December 31, 2024 within our owned and leased segment. | text | 21 | monetaryItemType | text: <entity> 21 </entity> <entity type> monetaryItemType </entity type> <context> During the year ended December 31, 2024, we identified changes in circumstances that indicated that the carrying values of certain asset groups, inclusive of property and equipment and operating lease ROU assets (see Note 8), may not be recoverable. We assessed the recoverability of the net book values and determined that the carrying values of certain asset groups were not fully recoverable. We then estimated the fair values of these assets, which are classified as Level Three in the hierarchy, using pending third-party offers or internally-developed cash flow models, which incorporated cash flow assumptions based on current economic trends, historical experience, and future growth projections. We determined that the carrying values of certain asset groups were in excess of the fair values, and we allocated the impairment charges to the long-lived assets within the asset group. We recognized $ 21 million of impairment charges related to property and equipment. The impairment charges were recognized in asset impairments on our consolidated statements of income during the year ended December 31, 2024 within our owned and leased segment. </context> | us-gaap:ImpairmentOfLongLivedAssetsHeldForUse |
At December 31, 2024 and December 31, 2023, we had $ 1,121 million and $ 883 million, respectively, of net receivables recorded on our consolidated balance sheets. | text | 1121 | monetaryItemType | text: <entity> 1121 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2024 and December 31, 2023, we had $ 1,121 million and $ 883 million, respectively, of net receivables recorded on our consolidated balance sheets. </context> | us-gaap:ReceivablesNetCurrent |
At December 31, 2024 and December 31, 2023, we had $ 1,121 million and $ 883 million, respectively, of net receivables recorded on our consolidated balance sheets. | text | 883 | monetaryItemType | text: <entity> 883 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2024 and December 31, 2023, we had $ 1,121 million and $ 883 million, respectively, of net receivables recorded on our consolidated balance sheets. </context> | us-gaap:ReceivablesNetCurrent |
—We estimated the fair value of financing receivables to be approximately $ 440 million and $ 133 million at December 31, 2024 and December 31, 2023, respectively. The fair values, which are classified as Level Three in the fair value hierarchy, are estimated using discounted future cash flow models. The principal inputs used are projected future cash flows and the discount rate, which is generally the effective interest rate of the loan. | text | 440 | monetaryItemType | text: <entity> 440 </entity> <entity type> monetaryItemType </entity type> <context> —We estimated the fair value of financing receivables to be approximately $ 440 million and $ 133 million at December 31, 2024 and December 31, 2023, respectively. The fair values, which are classified as Level Three in the fair value hierarchy, are estimated using discounted future cash flow models. The principal inputs used are projected future cash flows and the discount rate, which is generally the effective interest rate of the loan. </context> | us-gaap:NotesReceivableFairValueDisclosure |
—We estimated the fair value of financing receivables to be approximately $ 440 million and $ 133 million at December 31, 2024 and December 31, 2023, respectively. The fair values, which are classified as Level Three in the fair value hierarchy, are estimated using discounted future cash flow models. The principal inputs used are projected future cash flows and the discount rate, which is generally the effective interest rate of the loan. | text | 133 | monetaryItemType | text: <entity> 133 </entity> <entity type> monetaryItemType </entity type> <context> —We estimated the fair value of financing receivables to be approximately $ 440 million and $ 133 million at December 31, 2024 and December 31, 2023, respectively. The fair values, which are classified as Level Three in the fair value hierarchy, are estimated using discounted future cash flow models. The principal inputs used are projected future cash flows and the discount rate, which is generally the effective interest rate of the loan. </context> | us-gaap:NotesReceivableFairValueDisclosure |
—During the year ended December 31, 2024, we completed the Bahia Principe Transaction (see Note 4) for € 419 million of base consideration, subject to customary adjustments related to working capital, cash, and indebtedness, and including € 60 million of deferred consideration payable at future dates. We may pay additional variable contingent consideration through 2034 primarily related to the achievement of certain milestones for the development of additional hotels to be managed by the joint venture. The contingent consideration is payable at each hotel opening and is based on a multiple of stabilized base and incentive management fee revenues, and therefore, we are unable to reasonably estimate our maximum potential future consideration. | text | 419 | monetaryItemType | text: <entity> 419 </entity> <entity type> monetaryItemType </entity type> <context> —During the year ended December 31, 2024, we completed the Bahia Principe Transaction (see Note 4) for € 419 million of base consideration, subject to customary adjustments related to working capital, cash, and indebtedness, and including € 60 million of deferred consideration payable at future dates. We may pay additional variable contingent consideration through 2034 primarily related to the achievement of certain milestones for the development of additional hotels to be managed by the joint venture. The contingent consideration is payable at each hotel opening and is based on a multiple of stabilized base and incentive management fee revenues, and therefore, we are unable to reasonably estimate our maximum potential future consideration. </context> | us-gaap:BusinessCombinationConsiderationTransferred1 |
We closed on the transaction on December 27, 2024, paid cash of € 359 million (approximately $ 374 million) and accounted for the transaction as a business combination as we are the primary beneficiary of the VIE (see Note 4). Upon acquisition, we recorded a $ 58 million deferred consideration liability at fair value, of which $ 20 million is recorded in accrued expenses and other current liabilities and $ 38 million is recorded in other long-term liabilities on our consolidated balance sheet. | text | 359 | monetaryItemType | text: <entity> 359 </entity> <entity type> monetaryItemType </entity type> <context> We closed on the transaction on December 27, 2024, paid cash of € 359 million (approximately $ 374 million) and accounted for the transaction as a business combination as we are the primary beneficiary of the VIE (see Note 4). Upon acquisition, we recorded a $ 58 million deferred consideration liability at fair value, of which $ 20 million is recorded in accrued expenses and other current liabilities and $ 38 million is recorded in other long-term liabilities on our consolidated balance sheet. </context> | us-gaap:PaymentsToAcquireBusinessesGross |
We closed on the transaction on December 27, 2024, paid cash of € 359 million (approximately $ 374 million) and accounted for the transaction as a business combination as we are the primary beneficiary of the VIE (see Note 4). Upon acquisition, we recorded a $ 58 million deferred consideration liability at fair value, of which $ 20 million is recorded in accrued expenses and other current liabilities and $ 38 million is recorded in other long-term liabilities on our consolidated balance sheet. | text | 374 | monetaryItemType | text: <entity> 374 </entity> <entity type> monetaryItemType </entity type> <context> We closed on the transaction on December 27, 2024, paid cash of € 359 million (approximately $ 374 million) and accounted for the transaction as a business combination as we are the primary beneficiary of the VIE (see Note 4). Upon acquisition, we recorded a $ 58 million deferred consideration liability at fair value, of which $ 20 million is recorded in accrued expenses and other current liabilities and $ 38 million is recorded in other long-term liabilities on our consolidated balance sheet. </context> | us-gaap:PaymentsToAcquireBusinessesGross |
We closed on the transaction on December 27, 2024, paid cash of € 359 million (approximately $ 374 million) and accounted for the transaction as a business combination as we are the primary beneficiary of the VIE (see Note 4). Upon acquisition, we recorded a $ 58 million deferred consideration liability at fair value, of which $ 20 million is recorded in accrued expenses and other current liabilities and $ 38 million is recorded in other long-term liabilities on our consolidated balance sheet. | text | 20 | monetaryItemType | text: <entity> 20 </entity> <entity type> monetaryItemType </entity type> <context> We closed on the transaction on December 27, 2024, paid cash of € 359 million (approximately $ 374 million) and accounted for the transaction as a business combination as we are the primary beneficiary of the VIE (see Note 4). Upon acquisition, we recorded a $ 58 million deferred consideration liability at fair value, of which $ 20 million is recorded in accrued expenses and other current liabilities and $ 38 million is recorded in other long-term liabilities on our consolidated balance sheet. </context> | us-gaap:BusinessCombinationContingentConsiderationLiability |
We closed on the transaction on December 27, 2024, paid cash of € 359 million (approximately $ 374 million) and accounted for the transaction as a business combination as we are the primary beneficiary of the VIE (see Note 4). Upon acquisition, we recorded a $ 58 million deferred consideration liability at fair value, of which $ 20 million is recorded in accrued expenses and other current liabilities and $ 38 million is recorded in other long-term liabilities on our consolidated balance sheet. | text | 38 | monetaryItemType | text: <entity> 38 </entity> <entity type> monetaryItemType </entity type> <context> We closed on the transaction on December 27, 2024, paid cash of € 359 million (approximately $ 374 million) and accounted for the transaction as a business combination as we are the primary beneficiary of the VIE (see Note 4). Upon acquisition, we recorded a $ 58 million deferred consideration liability at fair value, of which $ 20 million is recorded in accrued expenses and other current liabilities and $ 38 million is recorded in other long-term liabilities on our consolidated balance sheet. </context> | us-gaap:BusinessCombinationContingentConsiderationLiability |
We also recorded a $ 33 million contingent consideration liability at fair value in other long-term liabilities on our consolidated balance sheet. | text | 33 | monetaryItemType | text: <entity> 33 </entity> <entity type> monetaryItemType </entity type> <context> We also recorded a $ 33 million contingent consideration liability at fair value in other long-term liabilities on our consolidated balance sheet. </context> | us-gaap:BusinessCombinationContingentConsiderationLiabilityNoncurrent |
Our consolidated balance sheet at December 31, 2024 reflects preliminary estimates of the fair value of the assets acquired, liabilities assumed, and noncontrolling interest in the entity based on available information as of the acquisition date. The fair values of intangible assets acquired were estimated using either discounted future cash flow models or the relief from royalty method, both of which include revenue projections based on the expected contract terms and long-term growth rates, which are primarily Level Three assumptions. The fair value of the noncontrolling interest related to the equity interests in the VIE held by our venture partner was estimated based on 50 % of enterprise value of the entity. The remaining assets and liabilities were recorded at their carrying values, which approximate their fair values. | text | 50 | percentItemType | text: <entity> 50 </entity> <entity type> percentItemType </entity type> <context> Our consolidated balance sheet at December 31, 2024 reflects preliminary estimates of the fair value of the assets acquired, liabilities assumed, and noncontrolling interest in the entity based on available information as of the acquisition date. The fair values of intangible assets acquired were estimated using either discounted future cash flow models or the relief from royalty method, both of which include revenue projections based on the expected contract terms and long-term growth rates, which are primarily Level Three assumptions. The fair value of the noncontrolling interest related to the equity interests in the VIE held by our venture partner was estimated based on 50 % of enterprise value of the entity. The remaining assets and liabilities were recorded at their carrying values, which approximate their fair values. </context> | us-gaap:BusinessAcquisitionPercentageOfVotingInterestsAcquired |
(5) Includes $ 50 million of prior year tax liabilities relating to certain foreign filing positions, including interest. We recorded an offsetting indemnification asset in other assets that we expect to collect under contractual agreements (see Note 10 and Note 14). | text | 50 | monetaryItemType | text: <entity> 50 </entity> <entity type> monetaryItemType </entity type> <context> (5) Includes $ 50 million of prior year tax liabilities relating to certain foreign filing positions, including interest. We recorded an offsetting indemnification asset in other assets that we expect to collect under contractual agreements (see Note 10 and Note 14). </context> | us-gaap:IncomeTaxReconciliationPriorYearIncomeTaxes |
During the year ended December 31, 2024, we recognized $ 11 million of transaction costs, primarily related to regulatory, financial advisory, and legal fees, in transaction and integration costs on our consolidated statements of income. | text | 11 | monetaryItemType | text: <entity> 11 </entity> <entity type> monetaryItemType </entity type> <context> During the year ended December 31, 2024, we recognized $ 11 million of transaction costs, primarily related to regulatory, financial advisory, and legal fees, in transaction and integration costs on our consolidated statements of income. </context> | us-gaap:BusinessCombinationAcquisitionRelatedCosts |
—During the year ended December 31, 2024, we completed an asset acquisition of Alua Atlántico Golf Resort, Alua Tenerife, and AluaSoul Orotava Valley through a locked box structure. The enterprise value of € 117 million was subject to customary adjustments related to indebtedness and net working capital as of the locked box date, as well as a value accrual representing the economic value of the locked box date through the acquisition date. At closing, we paid € 61 million of cash (approximately $ 65 million), including $ 4 million of cash acquired. Assets acquired primarily include $ 123 million of property and equipment, and liabilities assumed primarily include $ 53 million of long-term debt (see Note 11). All assets acquired and liabilities assumed are recorded within our owned and leased segment on our consolidated balance sheet. | text | 117 | monetaryItemType | text: <entity> 117 </entity> <entity type> monetaryItemType </entity type> <context> —During the year ended December 31, 2024, we completed an asset acquisition of Alua Atlántico Golf Resort, Alua Tenerife, and AluaSoul Orotava Valley through a locked box structure. The enterprise value of € 117 million was subject to customary adjustments related to indebtedness and net working capital as of the locked box date, as well as a value accrual representing the economic value of the locked box date through the acquisition date. At closing, we paid € 61 million of cash (approximately $ 65 million), including $ 4 million of cash acquired. Assets acquired primarily include $ 123 million of property and equipment, and liabilities assumed primarily include $ 53 million of long-term debt (see Note 11). All assets acquired and liabilities assumed are recorded within our owned and leased segment on our consolidated balance sheet. </context> | us-gaap:AssetAcquisitionConsiderationTransferred |
—During the year ended December 31, 2024, we completed an asset acquisition of Alua Atlántico Golf Resort, Alua Tenerife, and AluaSoul Orotava Valley through a locked box structure. The enterprise value of € 117 million was subject to customary adjustments related to indebtedness and net working capital as of the locked box date, as well as a value accrual representing the economic value of the locked box date through the acquisition date. At closing, we paid € 61 million of cash (approximately $ 65 million), including $ 4 million of cash acquired. Assets acquired primarily include $ 123 million of property and equipment, and liabilities assumed primarily include $ 53 million of long-term debt (see Note 11). All assets acquired and liabilities assumed are recorded within our owned and leased segment on our consolidated balance sheet. | text | 4 | monetaryItemType | text: <entity> 4 </entity> <entity type> monetaryItemType </entity type> <context> —During the year ended December 31, 2024, we completed an asset acquisition of Alua Atlántico Golf Resort, Alua Tenerife, and AluaSoul Orotava Valley through a locked box structure. The enterprise value of € 117 million was subject to customary adjustments related to indebtedness and net working capital as of the locked box date, as well as a value accrual representing the economic value of the locked box date through the acquisition date. At closing, we paid € 61 million of cash (approximately $ 65 million), including $ 4 million of cash acquired. Assets acquired primarily include $ 123 million of property and equipment, and liabilities assumed primarily include $ 53 million of long-term debt (see Note 11). All assets acquired and liabilities assumed are recorded within our owned and leased segment on our consolidated balance sheet. </context> | us-gaap:CashAcquiredFromAcquisition |
—During the year ended December 31, 2024, we completed an asset acquisition of Alua Atlántico Golf Resort, Alua Tenerife, and AluaSoul Orotava Valley through a locked box structure. The enterprise value of € 117 million was subject to customary adjustments related to indebtedness and net working capital as of the locked box date, as well as a value accrual representing the economic value of the locked box date through the acquisition date. At closing, we paid € 61 million of cash (approximately $ 65 million), including $ 4 million of cash acquired. Assets acquired primarily include $ 123 million of property and equipment, and liabilities assumed primarily include $ 53 million of long-term debt (see Note 11). All assets acquired and liabilities assumed are recorded within our owned and leased segment on our consolidated balance sheet. | text | 123 | monetaryItemType | text: <entity> 123 </entity> <entity type> monetaryItemType </entity type> <context> —During the year ended December 31, 2024, we completed an asset acquisition of Alua Atlántico Golf Resort, Alua Tenerife, and AluaSoul Orotava Valley through a locked box structure. The enterprise value of € 117 million was subject to customary adjustments related to indebtedness and net working capital as of the locked box date, as well as a value accrual representing the economic value of the locked box date through the acquisition date. At closing, we paid € 61 million of cash (approximately $ 65 million), including $ 4 million of cash acquired. Assets acquired primarily include $ 123 million of property and equipment, and liabilities assumed primarily include $ 53 million of long-term debt (see Note 11). All assets acquired and liabilities assumed are recorded within our owned and leased segment on our consolidated balance sheet. </context> | us-gaap:PropertyPlantAndEquipmentAdditions |
—During the year ended December 31, 2024, we acquired 100 % of the issued and outstanding equity interests of certain entities collectively doing business as Standard International for $ 150 million of base consideration, subject to customary adjustments related to working capital, cash, and indebtedness, and up to an additional $ 185 million of contingent consideration to be paid upon the achievement of certain milestones related to the development of additional hotels and/or potential new hotels identified by the sellers through 2028. | text | 100 | percentItemType | text: <entity> 100 </entity> <entity type> percentItemType </entity type> <context> —During the year ended December 31, 2024, we acquired 100 % of the issued and outstanding equity interests of certain entities collectively doing business as Standard International for $ 150 million of base consideration, subject to customary adjustments related to working capital, cash, and indebtedness, and up to an additional $ 185 million of contingent consideration to be paid upon the achievement of certain milestones related to the development of additional hotels and/or potential new hotels identified by the sellers through 2028. </context> | us-gaap:BusinessAcquisitionPercentageOfVotingInterestsAcquired |
—During the year ended December 31, 2024, we acquired 100 % of the issued and outstanding equity interests of certain entities collectively doing business as Standard International for $ 150 million of base consideration, subject to customary adjustments related to working capital, cash, and indebtedness, and up to an additional $ 185 million of contingent consideration to be paid upon the achievement of certain milestones related to the development of additional hotels and/or potential new hotels identified by the sellers through 2028. | text | 185 | monetaryItemType | text: <entity> 185 </entity> <entity type> monetaryItemType </entity type> <context> —During the year ended December 31, 2024, we acquired 100 % of the issued and outstanding equity interests of certain entities collectively doing business as Standard International for $ 150 million of base consideration, subject to customary adjustments related to working capital, cash, and indebtedness, and up to an additional $ 185 million of contingent consideration to be paid upon the achievement of certain milestones related to the development of additional hotels and/or potential new hotels identified by the sellers through 2028. </context> | us-gaap:BusinessCombinationContingentConsiderationLiability |
We closed on the transaction on October 1, 2024 and paid $ 151 million of cash. Upon acquisition, we recorded a $ 108 million contingent consideration liability at fair value in other long-term liabilities on our consolidated balance sheet. The fair value was estimated using a Monte Carlo simulation to model the likelihood of achieving the agreed-upon milestones based on available information as of the acquisition date. The valuation methodology includes assumptions and judgments regarding the discount rate, estimated probability of achieving the milestones, and expected timing of payments, which are primarily Level Three assumptions. Total purchase consideration was determined as follows: | text | 151 | monetaryItemType | text: <entity> 151 </entity> <entity type> monetaryItemType </entity type> <context> We closed on the transaction on October 1, 2024 and paid $ 151 million of cash. Upon acquisition, we recorded a $ 108 million contingent consideration liability at fair value in other long-term liabilities on our consolidated balance sheet. The fair value was estimated using a Monte Carlo simulation to model the likelihood of achieving the agreed-upon milestones based on available information as of the acquisition date. The valuation methodology includes assumptions and judgments regarding the discount rate, estimated probability of achieving the milestones, and expected timing of payments, which are primarily Level Three assumptions. Total purchase consideration was determined as follows: </context> | us-gaap:PaymentsToAcquireBusinessesGross |
We closed on the transaction on October 1, 2024 and paid $ 151 million of cash. Upon acquisition, we recorded a $ 108 million contingent consideration liability at fair value in other long-term liabilities on our consolidated balance sheet. The fair value was estimated using a Monte Carlo simulation to model the likelihood of achieving the agreed-upon milestones based on available information as of the acquisition date. The valuation methodology includes assumptions and judgments regarding the discount rate, estimated probability of achieving the milestones, and expected timing of payments, which are primarily Level Three assumptions. Total purchase consideration was determined as follows: | text | 108 | monetaryItemType | text: <entity> 108 </entity> <entity type> monetaryItemType </entity type> <context> We closed on the transaction on October 1, 2024 and paid $ 151 million of cash. Upon acquisition, we recorded a $ 108 million contingent consideration liability at fair value in other long-term liabilities on our consolidated balance sheet. The fair value was estimated using a Monte Carlo simulation to model the likelihood of achieving the agreed-upon milestones based on available information as of the acquisition date. The valuation methodology includes assumptions and judgments regarding the discount rate, estimated probability of achieving the milestones, and expected timing of payments, which are primarily Level Three assumptions. Total purchase consideration was determined as follows: </context> | us-gaap:BusinessCombinationContingentConsiderationLiabilityNoncurrent |
The acquisition includes management, franchise, and license agreements for both operating and additional hotels that are expected to open in the future and the affiliated trade names. Following the acquisition date, fee revenues and operating expenses of Standard International were recognized on our consolidated statements of income. For the period from the acquisition date through December 31, 2024, total revenues and net loss attributable to Standard International were $ 6 million and $ 5 million, respectively. | text | 6 | monetaryItemType | text: <entity> 6 </entity> <entity type> monetaryItemType </entity type> <context> The acquisition includes management, franchise, and license agreements for both operating and additional hotels that are expected to open in the future and the affiliated trade names. Following the acquisition date, fee revenues and operating expenses of Standard International were recognized on our consolidated statements of income. For the period from the acquisition date through December 31, 2024, total revenues and net loss attributable to Standard International were $ 6 million and $ 5 million, respectively. </context> | us-gaap:BusinessCombinationProFormaInformationRevenueOfAcquireeSinceAcquisitionDateActual |
The acquisition includes management, franchise, and license agreements for both operating and additional hotels that are expected to open in the future and the affiliated trade names. Following the acquisition date, fee revenues and operating expenses of Standard International were recognized on our consolidated statements of income. For the period from the acquisition date through December 31, 2024, total revenues and net loss attributable to Standard International were $ 6 million and $ 5 million, respectively. | text | 5 | monetaryItemType | text: <entity> 5 </entity> <entity type> monetaryItemType </entity type> <context> The acquisition includes management, franchise, and license agreements for both operating and additional hotels that are expected to open in the future and the affiliated trade names. Following the acquisition date, fee revenues and operating expenses of Standard International were recognized on our consolidated statements of income. For the period from the acquisition date through December 31, 2024, total revenues and net loss attributable to Standard International were $ 6 million and $ 5 million, respectively. </context> | us-gaap:BusinessCombinationProFormaInformationEarningsOrLossOfAcquireeSinceAcquisitionDateActual |
During the year ended December 31, 2024, we recognized $ 10 million of transaction costs, primarily related to financial advisory and legal fees, in transaction and integration costs on our consolidated statements of income. | text | 10 | monetaryItemType | text: <entity> 10 </entity> <entity type> monetaryItemType </entity type> <context> During the year ended December 31, 2024, we recognized $ 10 million of transaction costs, primarily related to financial advisory and legal fees, in transaction and integration costs on our consolidated statements of income. </context> | us-gaap:BusinessCombinationAcquisitionRelatedCosts |
—During the year ended December 31, 2024, we acquired the Me and All Hotels brand name from an unrelated third party for approximately $ 28 million, inclusive of closing costs. Upon completion of the asset acquisition, we recorded an indefinite-lived brand intangible within intangibles, net on our consolidated balance sheet (see Note 9). | text | 28 | monetaryItemType | text: <entity> 28 </entity> <entity type> monetaryItemType </entity type> <context> —During the year ended December 31, 2024, we acquired the Me and All Hotels brand name from an unrelated third party for approximately $ 28 million, inclusive of closing costs. Upon completion of the asset acquisition, we recorded an indefinite-lived brand intangible within intangibles, net on our consolidated balance sheet (see Note 9). </context> | us-gaap:AssetAcquisitionConsiderationTransferred |
—During the year ended December 31, 2023, we acquired 100 % of the outstanding shares of Smith Global Limited, doing business as Mr & Mrs Smith, in a business combination through a locked box structure. The enterprise value of £ 53 million was subject to customary adjustments related to indebtedness and net working capital as of the locked box date, as well as a value accrual representing the economic value from the locked box date through the acquisition date. | text | 100 | percentItemType | text: <entity> 100 </entity> <entity type> percentItemType </entity type> <context> —During the year ended December 31, 2023, we acquired 100 % of the outstanding shares of Smith Global Limited, doing business as Mr & Mrs Smith, in a business combination through a locked box structure. The enterprise value of £ 53 million was subject to customary adjustments related to indebtedness and net working capital as of the locked box date, as well as a value accrual representing the economic value from the locked box date through the acquisition date. </context> | us-gaap:BusinessAcquisitionPercentageOfVotingInterestsAcquired |
—During the year ended December 31, 2023, we acquired 100 % of the outstanding shares of Smith Global Limited, doing business as Mr & Mrs Smith, in a business combination through a locked box structure. The enterprise value of £ 53 million was subject to customary adjustments related to indebtedness and net working capital as of the locked box date, as well as a value accrual representing the economic value from the locked box date through the acquisition date. | text | 53 | monetaryItemType | text: <entity> 53 </entity> <entity type> monetaryItemType </entity type> <context> —During the year ended December 31, 2023, we acquired 100 % of the outstanding shares of Smith Global Limited, doing business as Mr & Mrs Smith, in a business combination through a locked box structure. The enterprise value of £ 53 million was subject to customary adjustments related to indebtedness and net working capital as of the locked box date, as well as a value accrual representing the economic value from the locked box date through the acquisition date. </context> | us-gaap:BusinessCombinationConsiderationTransferred1 |
We closed on the transaction on June 2, 2023 and paid cash of £ 58 million (approximately $ 72 million). Total purchase consideration was determined as follows: | text | 58 | monetaryItemType | text: <entity> 58 </entity> <entity type> monetaryItemType </entity type> <context> We closed on the transaction on June 2, 2023 and paid cash of £ 58 million (approximately $ 72 million). Total purchase consideration was determined as follows: </context> | us-gaap:PaymentsToAcquireBusinessesGross |
We closed on the transaction on June 2, 2023 and paid cash of £ 58 million (approximately $ 72 million). Total purchase consideration was determined as follows: | text | 72 | monetaryItemType | text: <entity> 72 </entity> <entity type> monetaryItemType </entity type> <context> We closed on the transaction on June 2, 2023 and paid cash of £ 58 million (approximately $ 72 million). Total purchase consideration was determined as follows: </context> | us-gaap:PaymentsToAcquireBusinessesGross |
The acquisition includes technology related to a boutique and luxury global travel platform, brand name, and relationships with affiliated hotel owners. Following the acquisition date, fee revenues and operating expenses of Mr & Mrs Smith were recognized on our consolidated statements of income. For the period from the acquisition date through December 31, 2023, total revenues and net income attributable to Mr & Mrs Smith were $ 15 million and $ 2 million, respectively. | text | 15 | monetaryItemType | text: <entity> 15 </entity> <entity type> monetaryItemType </entity type> <context> The acquisition includes technology related to a boutique and luxury global travel platform, brand name, and relationships with affiliated hotel owners. Following the acquisition date, fee revenues and operating expenses of Mr & Mrs Smith were recognized on our consolidated statements of income. For the period from the acquisition date through December 31, 2023, total revenues and net income attributable to Mr & Mrs Smith were $ 15 million and $ 2 million, respectively. </context> | us-gaap:BusinessCombinationProFormaInformationRevenueOfAcquireeSinceAcquisitionDateActual |
The acquisition includes technology related to a boutique and luxury global travel platform, brand name, and relationships with affiliated hotel owners. Following the acquisition date, fee revenues and operating expenses of Mr & Mrs Smith were recognized on our consolidated statements of income. For the period from the acquisition date through December 31, 2023, total revenues and net income attributable to Mr & Mrs Smith were $ 15 million and $ 2 million, respectively. | text | 2 | monetaryItemType | text: <entity> 2 </entity> <entity type> monetaryItemType </entity type> <context> The acquisition includes technology related to a boutique and luxury global travel platform, brand name, and relationships with affiliated hotel owners. Following the acquisition date, fee revenues and operating expenses of Mr & Mrs Smith were recognized on our consolidated statements of income. For the period from the acquisition date through December 31, 2023, total revenues and net income attributable to Mr & Mrs Smith were $ 15 million and $ 2 million, respectively. </context> | us-gaap:BusinessCombinationProFormaInformationEarningsOrLossOfAcquireeSinceAcquisitionDateActual |
During the year ended December 31, 2023, we recognized $ 5 million of transaction costs, primarily related to financial advisory and legal fees, in transaction and integration costs on our consolidated statements of income. | text | 5 | monetaryItemType | text: <entity> 5 </entity> <entity type> monetaryItemType </entity type> <context> During the year ended December 31, 2023, we recognized $ 5 million of transaction costs, primarily related to financial advisory and legal fees, in transaction and integration costs on our consolidated statements of income. </context> | us-gaap:BusinessCombinationAcquisitionRelatedCosts |
—During the year ended December 31, 2023, we acquired 100 % of the limited liability company interests of each of Chatwal Hotels & Resorts, LLC, DHG Manager, LLC, and each of the subsidiaries of DHG Manager, LLC (collectively, Dream Hotel Group) for $ 125 million of base consideration, subject to customary adjustments related to working capital and indebtedness, and up to an additional $ 175 million of contingent consideration to be paid upon the achievement of certain milestones related to the development of additional hotels and/or potential new hotels previously identified by the sellers. | text | 100 | percentItemType | text: <entity> 100 </entity> <entity type> percentItemType </entity type> <context> —During the year ended December 31, 2023, we acquired 100 % of the limited liability company interests of each of Chatwal Hotels & Resorts, LLC, DHG Manager, LLC, and each of the subsidiaries of DHG Manager, LLC (collectively, Dream Hotel Group) for $ 125 million of base consideration, subject to customary adjustments related to working capital and indebtedness, and up to an additional $ 175 million of contingent consideration to be paid upon the achievement of certain milestones related to the development of additional hotels and/or potential new hotels previously identified by the sellers. </context> | us-gaap:BusinessAcquisitionPercentageOfVotingInterestsAcquired |
—During the year ended December 31, 2023, we acquired 100 % of the limited liability company interests of each of Chatwal Hotels & Resorts, LLC, DHG Manager, LLC, and each of the subsidiaries of DHG Manager, LLC (collectively, Dream Hotel Group) for $ 125 million of base consideration, subject to customary adjustments related to working capital and indebtedness, and up to an additional $ 175 million of contingent consideration to be paid upon the achievement of certain milestones related to the development of additional hotels and/or potential new hotels previously identified by the sellers. | text | 125 | monetaryItemType | text: <entity> 125 </entity> <entity type> monetaryItemType </entity type> <context> —During the year ended December 31, 2023, we acquired 100 % of the limited liability company interests of each of Chatwal Hotels & Resorts, LLC, DHG Manager, LLC, and each of the subsidiaries of DHG Manager, LLC (collectively, Dream Hotel Group) for $ 125 million of base consideration, subject to customary adjustments related to working capital and indebtedness, and up to an additional $ 175 million of contingent consideration to be paid upon the achievement of certain milestones related to the development of additional hotels and/or potential new hotels previously identified by the sellers. </context> | us-gaap:PaymentsToAcquireBusinessesNetOfCashAcquired |
—During the year ended December 31, 2023, we acquired 100 % of the limited liability company interests of each of Chatwal Hotels & Resorts, LLC, DHG Manager, LLC, and each of the subsidiaries of DHG Manager, LLC (collectively, Dream Hotel Group) for $ 125 million of base consideration, subject to customary adjustments related to working capital and indebtedness, and up to an additional $ 175 million of contingent consideration to be paid upon the achievement of certain milestones related to the development of additional hotels and/or potential new hotels previously identified by the sellers. | text | 175 | monetaryItemType | text: <entity> 175 </entity> <entity type> monetaryItemType </entity type> <context> —During the year ended December 31, 2023, we acquired 100 % of the limited liability company interests of each of Chatwal Hotels & Resorts, LLC, DHG Manager, LLC, and each of the subsidiaries of DHG Manager, LLC (collectively, Dream Hotel Group) for $ 125 million of base consideration, subject to customary adjustments related to working capital and indebtedness, and up to an additional $ 175 million of contingent consideration to be paid upon the achievement of certain milestones related to the development of additional hotels and/or potential new hotels previously identified by the sellers. </context> | us-gaap:BusinessCombinationContingentConsiderationLiability |
We closed on the transaction on February 2, 2023 and paid $ 125 million of cash. Upon acquisition, we recorded a $ 107 million contingent consideration liability at fair value in other long-term liabilities on our consolidated balance sheet. The fair value was estimated using a Monte Carlo simulation to model the likelihood of achieving the agreed-upon milestones based on available information as of the acquisition date. The valuation methodology includes assumptions and judgments regarding the discount rate, estimated probability of achieving the milestones, and expected timing of payments, which are primarily Level Three assumptions. Total purchase consideration was determined as follows: | text | 125 | monetaryItemType | text: <entity> 125 </entity> <entity type> monetaryItemType </entity type> <context> We closed on the transaction on February 2, 2023 and paid $ 125 million of cash. Upon acquisition, we recorded a $ 107 million contingent consideration liability at fair value in other long-term liabilities on our consolidated balance sheet. The fair value was estimated using a Monte Carlo simulation to model the likelihood of achieving the agreed-upon milestones based on available information as of the acquisition date. The valuation methodology includes assumptions and judgments regarding the discount rate, estimated probability of achieving the milestones, and expected timing of payments, which are primarily Level Three assumptions. Total purchase consideration was determined as follows: </context> | us-gaap:PaymentsToAcquireBusinessesNetOfCashAcquired |
We closed on the transaction on February 2, 2023 and paid $ 125 million of cash. Upon acquisition, we recorded a $ 107 million contingent consideration liability at fair value in other long-term liabilities on our consolidated balance sheet. The fair value was estimated using a Monte Carlo simulation to model the likelihood of achieving the agreed-upon milestones based on available information as of the acquisition date. The valuation methodology includes assumptions and judgments regarding the discount rate, estimated probability of achieving the milestones, and expected timing of payments, which are primarily Level Three assumptions. Total purchase consideration was determined as follows: | text | 107 | monetaryItemType | text: <entity> 107 </entity> <entity type> monetaryItemType </entity type> <context> We closed on the transaction on February 2, 2023 and paid $ 125 million of cash. Upon acquisition, we recorded a $ 107 million contingent consideration liability at fair value in other long-term liabilities on our consolidated balance sheet. The fair value was estimated using a Monte Carlo simulation to model the likelihood of achieving the agreed-upon milestones based on available information as of the acquisition date. The valuation methodology includes assumptions and judgments regarding the discount rate, estimated probability of achieving the milestones, and expected timing of payments, which are primarily Level Three assumptions. Total purchase consideration was determined as follows: </context> | us-gaap:BusinessCombinationContingentConsiderationLiabilityNoncurrent |
The acquisition includes management and license agreements for both operating and additional hotels that are expected to open in the future, primarily across North America, and the affiliated trade names. Following the acquisition date, fee revenues and operating expenses of Dream Hotel Group were recognized on our consolidated statements of income. For the period from the acquisition date through December 31, 2023, total revenues and net income attributable to Dream Hotel Group were $ 7 million and $ 4 million, respectively. | text | 7 | monetaryItemType | text: <entity> 7 </entity> <entity type> monetaryItemType </entity type> <context> The acquisition includes management and license agreements for both operating and additional hotels that are expected to open in the future, primarily across North America, and the affiliated trade names. Following the acquisition date, fee revenues and operating expenses of Dream Hotel Group were recognized on our consolidated statements of income. For the period from the acquisition date through December 31, 2023, total revenues and net income attributable to Dream Hotel Group were $ 7 million and $ 4 million, respectively. </context> | us-gaap:BusinessCombinationProFormaInformationRevenueOfAcquireeSinceAcquisitionDateActual |
The acquisition includes management and license agreements for both operating and additional hotels that are expected to open in the future, primarily across North America, and the affiliated trade names. Following the acquisition date, fee revenues and operating expenses of Dream Hotel Group were recognized on our consolidated statements of income. For the period from the acquisition date through December 31, 2023, total revenues and net income attributable to Dream Hotel Group were $ 7 million and $ 4 million, respectively. | text | 4 | monetaryItemType | text: <entity> 4 </entity> <entity type> monetaryItemType </entity type> <context> The acquisition includes management and license agreements for both operating and additional hotels that are expected to open in the future, primarily across North America, and the affiliated trade names. Following the acquisition date, fee revenues and operating expenses of Dream Hotel Group were recognized on our consolidated statements of income. For the period from the acquisition date through December 31, 2023, total revenues and net income attributable to Dream Hotel Group were $ 7 million and $ 4 million, respectively. </context> | us-gaap:BusinessCombinationProFormaInformationEarningsOrLossOfAcquireeSinceAcquisitionDateActual |
During the year ended December 31, 2023, we recognized $ 7 million of transaction costs, primarily related to regulatory, financial advisory, and legal fees, in transaction and integration costs on our consolidated statements of income. | text | 7 | monetaryItemType | text: <entity> 7 </entity> <entity type> monetaryItemType </entity type> <context> During the year ended December 31, 2023, we recognized $ 7 million of transaction costs, primarily related to regulatory, financial advisory, and legal fees, in transaction and integration costs on our consolidated statements of income. </context> | us-gaap:BusinessCombinationAcquisitionRelatedCosts |
—During the year ended December 31, 2022, we acquired Hyatt Regency Irvine from an unrelated third party for $ 135 million, net of closing costs and proration adjustments. Upon completion of the asset acquisition, we recorded $ 135 million of property and equipment within our owned and leased segment on our consolidated balance sheet. | text | 135 | monetaryItemType | text: <entity> 135 </entity> <entity type> monetaryItemType </entity type> <context> —During the year ended December 31, 2022, we acquired Hyatt Regency Irvine from an unrelated third party for $ 135 million, net of closing costs and proration adjustments. Upon completion of the asset acquisition, we recorded $ 135 million of property and equipment within our owned and leased segment on our consolidated balance sheet. </context> | us-gaap:AssetAcquisitionConsiderationTransferred |
—During the year ended December 31, 2022, we acquired Hyatt Regency Irvine from an unrelated third party for $ 135 million, net of closing costs and proration adjustments. Upon completion of the asset acquisition, we recorded $ 135 million of property and equipment within our owned and leased segment on our consolidated balance sheet. | text | 135 | monetaryItemType | text: <entity> 135 </entity> <entity type> monetaryItemType </entity type> <context> —During the year ended December 31, 2022, we acquired Hyatt Regency Irvine from an unrelated third party for $ 135 million, net of closing costs and proration adjustments. Upon completion of the asset acquisition, we recorded $ 135 million of property and equipment within our owned and leased segment on our consolidated balance sheet. </context> | us-gaap:PropertyPlantAndEquipmentAdditions |
—During the year ended December 31, 2024, we sold Hyatt Regency O'Hare Chicago to an unrelated third party and accounted for the transaction as an asset disposition. We received $ 11 million of proceeds, net of closing costs and proration adjustments, issued a $ 20 million secured financing receivable with a maturity date of five years (see Note 6), and committed to loan up to $ 45 million for a future renovation. Upon sale, we entered into a long-term franchise agreement for the property. The sale resulted in a $ 5 million pre-tax loss, which was recognized in gains (losses) on sales of real estate and other on our consolidated statements of income during the year ended December 31, 2024. The operating results and financial position of this hotel prior to the sale remain within our owned and leased segment. | text | 11 | monetaryItemType | text: <entity> 11 </entity> <entity type> monetaryItemType </entity type> <context> —During the year ended December 31, 2024, we sold Hyatt Regency O'Hare Chicago to an unrelated third party and accounted for the transaction as an asset disposition. We received $ 11 million of proceeds, net of closing costs and proration adjustments, issued a $ 20 million secured financing receivable with a maturity date of five years (see Note 6), and committed to loan up to $ 45 million for a future renovation. Upon sale, we entered into a long-term franchise agreement for the property. The sale resulted in a $ 5 million pre-tax loss, which was recognized in gains (losses) on sales of real estate and other on our consolidated statements of income during the year ended December 31, 2024. The operating results and financial position of this hotel prior to the sale remain within our owned and leased segment. </context> | us-gaap:DisposalGroupIncludingDiscontinuedOperationConsideration |
—During the year ended December 31, 2024, we sold Hyatt Regency O'Hare Chicago to an unrelated third party and accounted for the transaction as an asset disposition. We received $ 11 million of proceeds, net of closing costs and proration adjustments, issued a $ 20 million secured financing receivable with a maturity date of five years (see Note 6), and committed to loan up to $ 45 million for a future renovation. Upon sale, we entered into a long-term franchise agreement for the property. The sale resulted in a $ 5 million pre-tax loss, which was recognized in gains (losses) on sales of real estate and other on our consolidated statements of income during the year ended December 31, 2024. The operating results and financial position of this hotel prior to the sale remain within our owned and leased segment. | text | 5 | monetaryItemType | text: <entity> 5 </entity> <entity type> monetaryItemType </entity type> <context> —During the year ended December 31, 2024, we sold Hyatt Regency O'Hare Chicago to an unrelated third party and accounted for the transaction as an asset disposition. We received $ 11 million of proceeds, net of closing costs and proration adjustments, issued a $ 20 million secured financing receivable with a maturity date of five years (see Note 6), and committed to loan up to $ 45 million for a future renovation. Upon sale, we entered into a long-term franchise agreement for the property. The sale resulted in a $ 5 million pre-tax loss, which was recognized in gains (losses) on sales of real estate and other on our consolidated statements of income during the year ended December 31, 2024. The operating results and financial position of this hotel prior to the sale remain within our owned and leased segment. </context> | us-gaap:DisposalGroupNotDiscontinuedOperationGainLossOnDisposal |
—During the year ended December 31, 2024, we sold Hyatt Regency Orlando and an adjacent undeveloped land parcel to an unrelated third party. We received $ 723 million of cash consideration, net of cash disposed, closing costs, and proration adjustments, and accounted for the transaction as an asset disposition. | text | 723 | monetaryItemType | text: <entity> 723 </entity> <entity type> monetaryItemType </entity type> <context> —During the year ended December 31, 2024, we sold Hyatt Regency Orlando and an adjacent undeveloped land parcel to an unrelated third party. We received $ 723 million of cash consideration, net of cash disposed, closing costs, and proration adjustments, and accounted for the transaction as an asset disposition. </context> | us-gaap:DisposalGroupIncludingDiscontinuedOperationConsideration |
In conjunction with the sale, we received a $ 265 million preferred equity investment in the parent of the third-party entity that owns the property. Upon sale, we estimated the fair value of our preferred equity investment, which is redeemable at our option on various dates starting in 2030, to be approximately $ 188 million and recorded a HTM debt security within other assets on our consolidated balance sheet (see Note 4). The fair value was estimated using a probability-based discounted future cash flow model and includes assumptions and judgments regarding the probability weighting, discount rates, and expected timing of payments, which are primarily Level Three assumptions. | text | 188 | monetaryItemType | text: <entity> 188 </entity> <entity type> monetaryItemType </entity type> <context> In conjunction with the sale, we received a $ 265 million preferred equity investment in the parent of the third-party entity that owns the property. Upon sale, we estimated the fair value of our preferred equity investment, which is redeemable at our option on various dates starting in 2030, to be approximately $ 188 million and recorded a HTM debt security within other assets on our consolidated balance sheet (see Note 4). The fair value was estimated using a probability-based discounted future cash flow model and includes assumptions and judgments regarding the probability weighting, discount rates, and expected timing of payments, which are primarily Level Three assumptions. </context> | us-gaap:HeldToMaturitySecuritiesFairValue |
Upon sale, we entered into a long-term management agreement for the property and a development agreement for the adjacent undeveloped land parcel. The sale resulted in a $ 514 million pre-tax gain, which was recognized in gains (losses) on sales of real estate and other on our consolidated statements of income during the year ended December 31, 2024. The operating results and financial position of this hotel prior to the sale remain within our owned and leased segment. | text | 514 | monetaryItemType | text: <entity> 514 </entity> <entity type> monetaryItemType </entity type> <context> Upon sale, we entered into a long-term management agreement for the property and a development agreement for the adjacent undeveloped land parcel. The sale resulted in a $ 514 million pre-tax gain, which was recognized in gains (losses) on sales of real estate and other on our consolidated statements of income during the year ended December 31, 2024. The operating results and financial position of this hotel prior to the sale remain within our owned and leased segment. </context> | us-gaap:DisposalGroupNotDiscontinuedOperationGainLossOnDisposal |
—During the year ended December 31, 2024, we sold Park Hyatt Zurich to an unrelated third party and accounted for the transaction as an asset disposition. We received proceeds of CHF 220 million (approximately $ 244 million), net of closing costs and proration adjustments, and issued a CHF 41 million (approximately $ 45 million) secured financing receivable with an initial maturity date of five years (see Note 6). Upon sale, we entered into a long-term management agreement for the property. The sale resulted in a $ 257 million pre-tax gain, including the reclassification of $ 6 million of currency translation gains from accumulated other comprehensive loss (see Note 16), which was recognized in gains (losses) on sales of real estate and other on our consolidated statements of income during the year ended December 31, 2024. The operating results and financial position of this hotel prior to the sale remain within our owned and leased segment. | text | 220 | monetaryItemType | text: <entity> 220 </entity> <entity type> monetaryItemType </entity type> <context> —During the year ended December 31, 2024, we sold Park Hyatt Zurich to an unrelated third party and accounted for the transaction as an asset disposition. We received proceeds of CHF 220 million (approximately $ 244 million), net of closing costs and proration adjustments, and issued a CHF 41 million (approximately $ 45 million) secured financing receivable with an initial maturity date of five years (see Note 6). Upon sale, we entered into a long-term management agreement for the property. The sale resulted in a $ 257 million pre-tax gain, including the reclassification of $ 6 million of currency translation gains from accumulated other comprehensive loss (see Note 16), which was recognized in gains (losses) on sales of real estate and other on our consolidated statements of income during the year ended December 31, 2024. The operating results and financial position of this hotel prior to the sale remain within our owned and leased segment. </context> | us-gaap:DisposalGroupIncludingDiscontinuedOperationConsideration |
—During the year ended December 31, 2024, we sold Park Hyatt Zurich to an unrelated third party and accounted for the transaction as an asset disposition. We received proceeds of CHF 220 million (approximately $ 244 million), net of closing costs and proration adjustments, and issued a CHF 41 million (approximately $ 45 million) secured financing receivable with an initial maturity date of five years (see Note 6). Upon sale, we entered into a long-term management agreement for the property. The sale resulted in a $ 257 million pre-tax gain, including the reclassification of $ 6 million of currency translation gains from accumulated other comprehensive loss (see Note 16), which was recognized in gains (losses) on sales of real estate and other on our consolidated statements of income during the year ended December 31, 2024. The operating results and financial position of this hotel prior to the sale remain within our owned and leased segment. | text | 244 | monetaryItemType | text: <entity> 244 </entity> <entity type> monetaryItemType </entity type> <context> —During the year ended December 31, 2024, we sold Park Hyatt Zurich to an unrelated third party and accounted for the transaction as an asset disposition. We received proceeds of CHF 220 million (approximately $ 244 million), net of closing costs and proration adjustments, and issued a CHF 41 million (approximately $ 45 million) secured financing receivable with an initial maturity date of five years (see Note 6). Upon sale, we entered into a long-term management agreement for the property. The sale resulted in a $ 257 million pre-tax gain, including the reclassification of $ 6 million of currency translation gains from accumulated other comprehensive loss (see Note 16), which was recognized in gains (losses) on sales of real estate and other on our consolidated statements of income during the year ended December 31, 2024. The operating results and financial position of this hotel prior to the sale remain within our owned and leased segment. </context> | us-gaap:DisposalGroupIncludingDiscontinuedOperationConsideration |
—During the year ended December 31, 2024, we sold Park Hyatt Zurich to an unrelated third party and accounted for the transaction as an asset disposition. We received proceeds of CHF 220 million (approximately $ 244 million), net of closing costs and proration adjustments, and issued a CHF 41 million (approximately $ 45 million) secured financing receivable with an initial maturity date of five years (see Note 6). Upon sale, we entered into a long-term management agreement for the property. The sale resulted in a $ 257 million pre-tax gain, including the reclassification of $ 6 million of currency translation gains from accumulated other comprehensive loss (see Note 16), which was recognized in gains (losses) on sales of real estate and other on our consolidated statements of income during the year ended December 31, 2024. The operating results and financial position of this hotel prior to the sale remain within our owned and leased segment. | text | 257 | monetaryItemType | text: <entity> 257 </entity> <entity type> monetaryItemType </entity type> <context> —During the year ended December 31, 2024, we sold Park Hyatt Zurich to an unrelated third party and accounted for the transaction as an asset disposition. We received proceeds of CHF 220 million (approximately $ 244 million), net of closing costs and proration adjustments, and issued a CHF 41 million (approximately $ 45 million) secured financing receivable with an initial maturity date of five years (see Note 6). Upon sale, we entered into a long-term management agreement for the property. The sale resulted in a $ 257 million pre-tax gain, including the reclassification of $ 6 million of currency translation gains from accumulated other comprehensive loss (see Note 16), which was recognized in gains (losses) on sales of real estate and other on our consolidated statements of income during the year ended December 31, 2024. The operating results and financial position of this hotel prior to the sale remain within our owned and leased segment. </context> | us-gaap:DisposalGroupNotDiscontinuedOperationGainLossOnDisposal |
—During the year ended December 31, 2024, we sold Park Hyatt Zurich to an unrelated third party and accounted for the transaction as an asset disposition. We received proceeds of CHF 220 million (approximately $ 244 million), net of closing costs and proration adjustments, and issued a CHF 41 million (approximately $ 45 million) secured financing receivable with an initial maturity date of five years (see Note 6). Upon sale, we entered into a long-term management agreement for the property. The sale resulted in a $ 257 million pre-tax gain, including the reclassification of $ 6 million of currency translation gains from accumulated other comprehensive loss (see Note 16), which was recognized in gains (losses) on sales of real estate and other on our consolidated statements of income during the year ended December 31, 2024. The operating results and financial position of this hotel prior to the sale remain within our owned and leased segment. | text | 6 | monetaryItemType | text: <entity> 6 </entity> <entity type> monetaryItemType </entity type> <context> —During the year ended December 31, 2024, we sold Park Hyatt Zurich to an unrelated third party and accounted for the transaction as an asset disposition. We received proceeds of CHF 220 million (approximately $ 244 million), net of closing costs and proration adjustments, and issued a CHF 41 million (approximately $ 45 million) secured financing receivable with an initial maturity date of five years (see Note 6). Upon sale, we entered into a long-term management agreement for the property. The sale resulted in a $ 257 million pre-tax gain, including the reclassification of $ 6 million of currency translation gains from accumulated other comprehensive loss (see Note 16), which was recognized in gains (losses) on sales of real estate and other on our consolidated statements of income during the year ended December 31, 2024. The operating results and financial position of this hotel prior to the sale remain within our owned and leased segment. </context> | us-gaap:DisposalGroupIncludingDiscontinuedOperationForeignCurrencyTranslationGainsLosses |
—During the year ended December 31, 2024, we sold Hyatt Regency San Antonio Riverwalk to an unrelated third party for $ 226 million, net of closing costs and proration adjustments, and accounted for the transaction as an asset disposition. Upon sale, we entered into a long-term management agreement for the property. The sale resulted in a $ 100 million pre-tax gain, which was recognized in gains (losses) on sales of real estate and other on our consolidated statements of income during the year ended December 31, 2024. The operating results and financial position of this hotel prior to the sale remain within our owned and leased segment. | text | 226 | monetaryItemType | text: <entity> 226 </entity> <entity type> monetaryItemType </entity type> <context> —During the year ended December 31, 2024, we sold Hyatt Regency San Antonio Riverwalk to an unrelated third party for $ 226 million, net of closing costs and proration adjustments, and accounted for the transaction as an asset disposition. Upon sale, we entered into a long-term management agreement for the property. The sale resulted in a $ 100 million pre-tax gain, which was recognized in gains (losses) on sales of real estate and other on our consolidated statements of income during the year ended December 31, 2024. The operating results and financial position of this hotel prior to the sale remain within our owned and leased segment. </context> | us-gaap:DisposalGroupIncludingDiscontinuedOperationConsideration |
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