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Segment Information (Tables)
3 Months Ended
Mar. 31, 2018
Segment Reporting [Abstract]  
Summary of Segment Information

 

 

Three months ended March 31, 2018

 

 

 

Hotel

 

 

Non-Hotel

 

 

Corporate and

Unallocated

 

 

Total

 

 

 

(in millions)

 

Revenue

 

$

299

 

 

$

79

 

 

$

-

 

 

$

378

 

Adjusted EBITDA (1)

 

88

 

 

 

(8

)

 

 

-

 

 

 

80

 

Depreciation

 

 

 

 

 

 

 

 

 

 

(20

)

 

 

(20

)

Amortization of intangible assets

 

 

 

 

 

 

 

 

 

 

(8

)

 

 

(8

)

Stock-based compensation

 

 

 

 

 

 

 

 

 

 

(29

)

 

 

(29

)

Operating income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

23

 

Other expense, net

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(2

)

Income before income taxes

 

 

 

 

 

 

 

 

 

 

 

 

 

 

21

 

Provision for income taxes

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(16

)

Net income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

5

 

 

 

 

Three months ended March 31, 2017

 

 

 

Hotel

 

 

Non-Hotel

 

 

Corporate and

Unallocated

 

 

Total

 

 

 

(in millions)

 

Revenue

 

$

314

 

 

$

58

 

 

$

-

 

 

$

372

 

Adjusted EBITDA (1)

 

88

 

 

 

(15

)

 

 

-

 

 

 

73

 

Depreciation

 

 

 

 

 

 

 

 

 

 

(19

)

 

 

(19

)

Amortization of intangible assets

 

 

 

 

 

 

 

 

 

 

(8

)

 

 

(8

)

Stock-based compensation

 

 

 

 

 

 

 

 

 

 

(19

)

 

 

(19

)

Operating income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

27

 

Other expense, net

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(2

)

Income before income taxes

 

 

 

 

 

 

 

 

 

 

 

 

 

 

25

 

Provision for income taxes

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(12

)

Net income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

13

 

 

 

(1)

Includes allocated general and administrative expenses in our Hotel segment of $20 million and $19 million; and in our Non-Hotel segment of $12 million and $9 million for the three months ended March 31, 2018 and 2017, respectively.