Consolidated Variable Interest Entities

3 Months Ended

Mar. 31, 2017

Consolidated Variable Interest Entities Disclosure [Abstract]

Note 4: Consolidated Variable Interest Entities

As of March 31, 2017 and December 31, 2016, we consolidated three variable interest entities (“VIEs”): two entities that lease hotel properties and one management company. We are the primary beneficiaries of these consolidated VIEs as we have the power to direct the activities that most significantly affect their economic performance. Additionally, we have the obligation to absorb their losses and the right to receive benefits that could be significant to them. The assets of our VIEs are only available to settle the obligations of the respective entities. Our condensed consolidated balance sheets included the assets and liabilities of these entities, which primarily comprised the following:


	March 31, 2017		December 31, 2016
	(in millions)
Cash and cash equivalents	$	55	$	57
Accounts receivable, net		14		14
Property and equipment, net		55		52
Deferred income tax assets		61		58
Other non-current assets		56		53
Accounts payable, accrued expenses and other		34		33
Long-term debt		222		212

During the three months ended March 31, 2017 and 2016, we did not provide any financial or other support to any VIEs that we were not previously contractually required to provide, nor do we intend to provide such support in the future.