Property and Equipment

6 Months Ended

Jun. 30, 2021

Property Plant And Equipment [Abstract]

Property and Equipment

Note 4: Property and Equipment

Property and equipment were:

	June 30, 2021(1)			December 31, 2020
	(in millions)
Land	$	3,381		$	3,429
Buildings and leasehold improvements		6,775			6,951
Furniture and equipment		1,025			1,042
Construction-in-progress		48			52
		11,229			11,474
Accumulated depreciation and amortization		(2,409	)		(2,281	)
	$	8,820		$	9,193

(1)       Excludes $77 million of property and equipment, net classified as held for sale as of June 30, 2021.

Depreciation of property and equipment was $71 million and $75 million during the three months ended June 30, 2021 and 2020, respectively, and $144 million and $149 million during the six months ended June 30, 2021 and 2020, respectively.

For the three and six months ended June 30, 2021, we recognized $5 million of impairment losses related to one of our hotels classified as held for sale as of June 30, 2021.

For the six months ended June 30, 2020, we recognized $88 million of impairment losses, primarily related to one of our hotels, and our inability to recover the carrying value of the asset because of COVID-19.