Acquisitions and Dispositions	3 Months Ended
Mar. 31, 2015
Acquisitions and Dispositions [Abstract]
Acquisitions and Dispositions	ACQUISITIONS AND DISPOSITIONS Acquisitions On the first day of our 2015 second quarter, we acquired the Delta Hotels and Resorts brand, management and franchise business, together with related intellectual property, from Delta Hotels Limited Partnership, a subsidiary of British Columbia Investment Management Corporation (“bcIMC”) for approximately $134 million (C$170 million), plus $2 million (C$2 million) of working capital, for a total purchase price of $136 million (C$172 million). At the end of the 2015 first quarter, we transferred $136 million in cash to fund an escrow deposit for the acquisition, which is included in the “Other noncurrent assets” caption of our Balance Sheets. We have provisionally recognized approximately: $124 million (C$157 million) in intangible assets consisting of contract assets, an indefinite-lived brand intangible, and goodwill; and $12 million (C$15 million) of tangible assets consisting of property and equipment and other assets during our 2015 second quarter. Our provisional estimates of fair values are based on the information that was available as of the acquisition date. As a result of the transaction, we added 37 open hotels and resorts with over 10,000 rooms across Canada, 27 of which are managed (including 13 under new 30-year management agreements with bcIMC-affiliated entities) and 10 of which are franchised, plus five hotels under development (including one under a new 30-year management agreement with a bcIMC-affiliated entity). In the 2014 second quarter, we acquired the Protea Hotel Group’s brands and hotel management business (“Protea Hotels”) for $193 million (ZAR 2.046 billion) in cash and provisionally recognized approximately: $184 million (ZAR 1.943 billion) in intangible assets, consisting of contract assets of $91 million (ZAR 960 million), an indefinite-lived brand intangible of $73 million (ZAR 772 million), and goodwill of $20 million (ZAR 211 million); and $9 million (ZAR 103 million) of tangible assets consisting of property and equipment, equity method investments, and other current assets. Our provisional estimates of fair values are based on the information that was available as of the acquisition date. We are continuing to evaluate the assumptions used in determining the fair value of the intangible assets, which we expect to finalize in the 2015 second quarter. Dispositions and Planned Dispositions In the 2014 first quarter, we sold The London EDITION to a third party and simultaneously entered into definitive agreements to sell The Miami Beach and The New York (Madison Square Park) EDITION hotels upon completion of construction to the same third party. The total sales price for the three EDITION hotels was approximately $816 million in cash and assumed liabilities. We completed the sale of The Miami Beach EDITION during the 2015 first quarter, and at the beginning of our 2015 second quarter, sold The New York (Madison Square Park) EDITION, subject to certain payment obligations and a repurchase option if we are unable to obtain final operating permits by specific dates. The cash proceeds were $233 million in the 2014 first quarter, $230 million in the 2015 first quarter, and $343 million in the 2015 second quarter. In the 2015 first quarter, we recorded a $6 million impairment charge related to The New York (Madison Square Park) EDITION, in the “Depreciation, amortization, and other” caption of our Income Statements as our cost estimates exceed our total fixed sales price. We did not allocate the charge to any of our segments. In the 2015 first quarter, we sold our interest in an International limited service property and received $27 million (€24 million) in cash. At the end of the 2015 first quarter, we classified $45 million in assets related to The Miami Beach EDITION residences (the “residences”) in the “Assets held for sale” caption of the Balance Sheets and $8 million in liabilities classified in liabilities held for sale in the “Accrued expenses and other” caption of the Balance Sheets. In connection with the planned disposition of the residences, we determined that the carrying values of certain units exceeded their fair values, which we determined using a market approach and Level 3 inputs for comparable units. Consequently, during the 2015 first quarter, we recorded a $6 million impairment charge in the “Depreciation, amortization, and other” caption of our Income Statements, which represents the excess of the carrying values of the assets over their fair values, less cost to sell. We did not allocate that charge to any of our segments.

ACQUISITIONS AND DISPOSITIONS

Acquisitions

On the first day of our 2015 second quarter, we acquired the Delta Hotels and Resorts brand, management and franchise business, together with related intellectual property, from Delta Hotels Limited Partnership, a subsidiary of British Columbia Investment Management Corporation (“bcIMC”) for approximately $134 million (C$170 million), plus $2 million (C$2 million) of working capital, for a total purchase price of $136 million (C$172 million). At the end of the 2015 first quarter, we transferred $136 million in cash to fund an escrow deposit for the acquisition, which is included in the “Other noncurrent assets” caption of our Balance Sheets. We have provisionally recognized approximately: $124 million (C$157 million) in intangible assets consisting of contract assets, an indefinite-lived brand intangible, and goodwill; and $12 million (C$15 million) of tangible assets consisting of property and equipment and other assets during our 2015 second quarter. Our provisional estimates of fair values are based on the information that was available as of the acquisition date. As a result of the transaction, we added 37 open hotels and resorts with over 10,000 rooms across Canada, 27 of which are managed (including 13 under new 30-year management agreements with bcIMC-affiliated entities) and 10 of which are franchised, plus five hotels under development (including one under a new 30-year management agreement with a bcIMC-affiliated entity).

In the 2014 second quarter, we acquired the Protea Hotel Group’s brands and hotel management business (“Protea Hotels”) for $193 million (ZAR 2.046 billion) in cash and provisionally recognized approximately: $184 million (ZAR 1.943 billion) in intangible assets, consisting of contract assets of $91 million (ZAR 960 million), an indefinite-lived brand intangible of $73 million (ZAR 772 million), and goodwill of $20 million (ZAR 211 million); and $9 million (ZAR 103 million) of tangible assets consisting of property and equipment, equity method investments, and other current assets. Our provisional estimates of fair values are based on the information that was available as of the acquisition date. We are continuing to evaluate the assumptions used in determining the fair value of the intangible assets, which we expect to finalize in the 2015 second quarter.

Dispositions and Planned Dispositions

In the 2014 first quarter, we sold The London EDITION to a third party and simultaneously entered into definitive agreements to sell The Miami Beach and The New York (Madison Square Park) EDITION hotels upon completion of construction to the same third party. The total sales price for the three EDITION hotels was approximately $816 million in cash and assumed liabilities. We completed the sale of The Miami Beach EDITION during the 2015 first quarter, and at the beginning of our 2015 second quarter, sold The New York (Madison Square Park) EDITION, subject to certain payment obligations and a repurchase option if we are unable to obtain final operating permits by specific dates. The cash proceeds were $233 million in the 2014 first quarter, $230 million in the 2015 first quarter, and $343 million in the 2015 second quarter.

In the 2015 first quarter, we recorded a $6 million impairment charge related to The New York (Madison Square Park) EDITION, in the “Depreciation, amortization, and other” caption of our Income Statements as our cost estimates exceed our total fixed sales price. We did not allocate the charge to any of our segments.

In the 2015 first quarter, we sold our interest in an International limited service property and received $27 million (€24 million) in cash.

At the end of the 2015 first quarter, we classified $45 million in assets related to The Miami Beach EDITION residences (the “residences”) in the “Assets held for sale” caption of the Balance Sheets and $8 million in liabilities classified in liabilities held for sale in the “Accrued expenses and other” caption of the Balance Sheets. In connection with the planned disposition of the residences, we determined that the carrying values of certain units exceeded their fair values, which we determined using a market approach and Level 3 inputs for comparable units. Consequently, during the 2015 first quarter, we recorded a $6 million impairment charge in the “Depreciation, amortization, and other” caption of our Income Statements, which represents the excess of the carrying values of the assets over their fair values, less cost to sell. We did not allocate that charge to any of our segments.