Debt (Tables)

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Schedule of Debt

Debt balances and associated interest rates as of December 31, 2021 were:

			Principal balance as of
	Interest Rate at December 31, 2021	Maturity Date	December 31, 2021			December 31, 2020
			(in millions)
SF Mortgage Loan	4.11%	November 2023	$	725		$	725
HHV Mortgage Loan	4.20%	November 2026		1,275			1,275
Other mortgage loans	Average rate of 4.21%	2022 to 2026(1)(2)		503			509
2019 Term Facility(3)	L + 2.65%	August 2024		78			670
Revolver(3)	L + 3.00%	2021 to 2023(4)		—			601
2025 Senior Secured Notes	7.50%	June 2025		650			650
2028 Senior Secured Notes	5.88%	October 2028		725			725
2029 Senior Secured Notes	4.88%	May 2029		750			—
Finance lease obligations	3.07%	2021 to 2022		—			1
				4,706			5,156
Add: unamortized premium				4			3
Less: unamortized deferred financing costs and    discount				(38	)		(38	)
			$	4,672		$	5,121

(1) 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.

(2) In November 2021, we modified the $75 million mortgage loan secured by the W Chicago City Center to require interest only payments until its maturity date.

(3) In May 2020, we amended our credit and term loan facilities to add a LIBOR floor of 25 basis points.

(4) 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 was December 2021.

Debt Maturities, Assuming the Exercise of all Extensions that are Exercisable Solely at our Option

The contractual maturities of our debt, assuming the exercise of all extensions that are exercisable solely at our option, as of December 31, 2021 were:

Year	(in millions)
2022	$	97
2023		830
2024		85
2025		657
2026		1,562
Thereafter(1)		1,475
	$	4,706

(1) Assumes the exercise of all extensions that are exercisable solely at our option.