Acquisitions (Tables)

9 Months Ended

Sep. 30, 2014

Acquisitions Disclosure [Abstract]

Schedule of Business Acquisitions, by Acquisition

The following is a listing of all 11 hotels involved in this exchange, including pre-exchange and post-exchange ownership percentages:

Property	Pre-Exchange Ownership %			Post-Exchange Ownership %
Embassy Suites Atlanta—Perimeter Center		50	%		100	%
Embassy Suites Kansas City—Overland Park		50	%		100	%
Embassy Suites Kansas City—Plaza		50	%		100	%
Embassy Suites Parsippany		50	%		100	%
Embassy Suites San Rafael—Marin County		50	%		100	%
Embassy Suites Austin—Central		50	%		—	%
Embassy Suites Chicago—Lombard/Oak Brook		50	%		—	%
Embassy Suites Raleigh—Crabtree		50	%		—	%
Embassy Suites San Antonio—International Airport		50	%		—	%
Embassy Suites San Antonio—NW I-10		50	%		—	%
DoubleTree Guest Suites Austin		10	%		—	%

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The fair value of the assets and liabilities acquired as a result of the exchange were as follows:

	(in millions)
Cash and cash equivalents	$	2
Property and equipment		144
Other intangible assets		1
Long-term debt		(64)
Net assets acquired	$	83