Segment Information (Tables)

6 Months Ended

Jun. 30, 2016

Segment Reporting [Abstract]

Summary of Segment Information

The following tables present our segment information for the three and six months ended June 30, 2016 and 2015, and includes a reconciliation of Adjusted EBITDA to Net Income, the most directly comparable financial measure calculated and presented in accordance with GAAP.

	Three months ended June 30, 2016
	Hotel		Non-Hotel			Corporate and Unallocated			Total
	(in millions)
Revenue	$	316	$	75		$	-		$	391
Adjusted EBITDA (1)	105			(10	)		-			95
Depreciation							(17	)		(17	)
Amortization of intangible assets							(8	)		(8	)
Stock-based compensation							(22	)		(22	)
Operating income (loss)										48
Other expense, net										(3	)
Income before income taxes										45
Provision for income taxes										(11	)
Net income									$	34

	Three months ended June 30, 2015
	Hotel		Non-Hotel			Corporate and Unallocated			Total
	(in millions)
Revenue	$	343	$	62		$	-		$	405
Adjusted EBITDA (2)	125			(2	)		-			123
Depreciation							(15	)		(15	)
Amortization of intangible assets							(9	)		(9	)
Stock-based compensation							(18	)		(18	)
Other non-recurring expenses							(2	)		(2	)
Operating income (loss)										79
Other income, net										3
Income before income taxes										82
Provision for income taxes										(24	)
Net income									$	58

	Six months ended June 30, 2016
	Hotel		Non-Hotel			Corporate and Unallocated			Total
	(in millions)
Revenue	$	619	$	124		$	-		$	743
Adjusted EBITDA (1)	211			(31	)		-			180
Depreciation							(33	)		(33	)
Amortization of intangible assets							(15	)		(15	)
Stock-based compensation							(42	)		(42	)
Operating income (loss)										90
Other expense, net										(6	)
Income before income taxes										84
Provision for income taxes										(22	)
Net income									$	62

	Six months ended June 30, 2015
	Hotel		Non-Hotel			Corporate and Unallocated			Total
	(in millions)
Revenue	$	663	$	105		$	-		$	768
Adjusted EBITDA (2)	257			(8	)		-			249
Depreciation							(28	)		(28	)
Amortization of intangible assets							(16	)		(16	)
Stock-based compensation							(34	)		(34	)
Other non-recurring expenses							(2	)		(2	)
Operating income (loss)										169
Other expense, net										(1	)
Income before income taxes										168
Provision for income taxes										(47	)
Net income									$	121

(1)	Includes allocated general and administrative expenses in our Hotel segment of $19 million and $41 million; and in our Non-Hotel segment of $9 million and $18 million for the three and six months ended June 30, 2016, respectively.
(2)	Includes allocated general and administrative expenses in our Hotel segment of $26 million and $46 million; and in our Non-Hotel segment of $9 million and $15 million for the three and six months ended June 30, 2015, respectively.