CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
REVENUES
Base management fees	$ 264	$ 172
Franchise fees	365	250
Incentive management fees	153	101
Management and franchise fees	782	523
Owned, leased, and other revenue	439	204
Cost reimbursements	4,340	3,045
Revenues	5,561	3,772
OPERATING COSTS AND EXPENSES
Owned, leased, and other - direct	358	166
Reimbursed costs	4,340	3,045
Depreciation, amortization, and other	65	31
General, administrative, and other	210	155
Merger-related costs and charges	51	8
Costs and Expenses, Total	5,024	3,405
OPERATING INCOME	537	367
Gains and other income, net	0	0
Interest expense	(70)	(47)
Interest income	7	6
Equity in earnings	11	0
INCOME BEFORE INCOME TAXES	485	326
Provision for income taxes	(120)	(107)
NET INCOME	$ 365	$ 219
EARNINGS PER SHARE
Earnings per share - basic (in USD per share)	$ 0.95	$ 0.86
Earnings per share - diluted (in USD per share)	0.94	0.85
CASH DIVIDENDS DECLARED PER SHARE (in USD per share)	$ 0.30	$ 0.25