Consolidated Variable Interest Entities

12 Months Ended

Dec. 31, 2018

Consolidated Variable Interest Entities Disclosure [Abstract]

As of December 31, 2018 and 2017, we consolidated three VIEs: two entities that lease hotel properties and one management company. We consolidated these VIEs, since we are the primary beneficiaries of them 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 consolidated VIEs are only available to settle the obligations of the respective entities. Our consolidated balance sheets included the assets and liabilities of these entities, which primarily comprised the following:



	December 31,
	2018		2017
	(in millions)
Cash and cash equivalents	$	71	$	73
Accounts receivable, net	15		16
Property and equipment, net	68		57
Deferred income tax assets	53		56
Other non-current assets	58		57
Accounts payable, accrued expenses and other	41		43
Long-term debt⁽¹⁾	205		212
Other long-term liabilities	15		13

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⁽¹⁾	Includes capital lease obligations of $187 million and $191 million as of December 31, 2018 and 2017, respectively.

During the years ended December 31, 2018, 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.