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Debt - Schedule of Debt (Detail) - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2021
Dec. 31, 2020
Oct. 31, 2016
Debt Instrument [Line Items]      
Debt and financing lease obligations, gross $ 4,708 $ 5,156  
Add: unamortized premium 3 3  
Less: unamortized deferred financing costs and discount (41) (38)  
Debt 4,670 5,121  
SF CMBS Loan [Member]      
Debt Instrument [Line Items]      
Debt, gross $ 725 [1] 725 [1] $ 725
Debt instrument, interest rate, stated percentage [1] 4.11%    
Maturity Date [1] 2023-11    
HHV CMBS Loan [Member]      
Debt Instrument [Line Items]      
Debt, gross $ 1,275 [1] 1,275 [1] $ 1,275
Debt instrument, interest rate, stated percentage [1] 4.20%    
Maturity Date [1] 2026-11    
Mortgage Loans [Member]      
Debt Instrument [Line Items]      
Debt, gross $ 505 509  
Debt, weighted average interest rate 4.81%    
Maturity Date, start year [2],[3] 2022    
Maturity Date, end year [2],[3] 2026    
2025 Senior Secured Notes [Member]      
Debt Instrument [Line Items]      
Senior Secured Notes [4] $ 650 650  
Debt instrument, interest rate, stated percentage [4] 7.50%    
Maturity Date [4] 2025-06    
2028 Senior Secured Notes [Member]      
Debt Instrument [Line Items]      
Senior Secured Notes [4] $ 725 725  
Debt instrument, interest rate, stated percentage [4] 5.88%    
Maturity Date [4] 2028-10    
2029 Senior Secured Notes [Member]      
Debt Instrument [Line Items]      
Senior Secured Notes $ 750 0  
Debt instrument, interest rate, stated percentage 4.88%    
Maturity Date 2029-05    
Finance Lease Obligations [Member]      
Debt Instrument [Line Items]      
Finance lease obligations $ 0 1  
Debt instrument, interest rate, stated percentage 3.07%    
Maturity Date, start year 2021    
Maturity Date, end year 2022    
2019 Term Facility [Member]      
Debt Instrument [Line Items]      
Debt, gross [5] $ 78 670  
Maturity Date [5] 2024-08    
2019 Term Facility [Member] | LIBOR [Member]      
Debt Instrument [Line Items]      
Debt instrument, interest rate [5] 2.65%    
Revolver [Member]      
Debt Instrument [Line Items]      
Debt, gross [5] $ 0 $ 601  
Maturity Date, start year [5],[6] 2021    
Maturity Date, end year [5],[6] 2023    
Revolver [Member] | LIBOR [Member]      
Debt Instrument [Line Items]      
Debt instrument, interest rate [5] 3.00%    
[1] In October 2016, we entered into a $725 million CMBS loan secured by the Hilton San Francisco Union Square and the Parc 55 Hotel San Francisco (“SF CMBS Loan”) and a $1.275 billion CMBS loan secured by the Hilton Hawaiian Village Waikiki Beach Resort (“HHV CMBS Loan”).
[2] Assumes the exercise of all extensions that are exercisable solely at our option. The mortgage loan for Hilton Denver City Center matures in 2042 but is callable by the lender beginning August 2022.
[3] In June 2021, our joint venture repaid the $12 million loan secured by the Doubletree Spokane with proceeds from a $14 million loan with a maturity date of July 1, 2026. Additionally, in January 2021, we ceased making debt service payments toward the $75 million mortgage loan secured by the W Chicago City Center, and we have received a notice of an event of default. The default interest rate on the loan is 8.25% and the stated rate is 4.25%. While we hope to negotiate an amendment with the lender, there can be no assurances that an agreement will be reached.
[4] In May and September 2020, our Operating Company, PK Domestic and PK Finance issued an aggregate of $650 million of senior secured notes due 2025 (“2025 Senior Secured Notes”) and an aggregate of $725 million of senior secured notes due 2028 (“2028 Senior Secured Notes”), respectively (collectively with the 2029 Senior Secured Notes, the “Senior Secured Notes”).
[5] In May 2020, we amended our credit and term loan facilities to add a LIBOR floor of 25 basis points. Net proceeds from asset sales during the nine months ended September 30, 2021 and the 2029 Senior Secured Notes were used to repay the outstanding balance under the Revolver and a portion of the 2019 Term Facility. Refer to Note 3: “Dispositions and Acquisitions” for additional information.
[6] In September 2020, we increased our aggregate commitments under the Revolver by $75 million to $1.075 billion and extended the maturity date with respect to $901 million of the aggregate commitments for two years to December 2023, including all $75 million of the increased Revolver commitments. The maturity date for the remaining $174 million of commitments under the Revolver is December 2021.