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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating Activities:      
Net income (loss) $ (452) $ (1,444) $ 316
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:      
Depreciation and amortization 281 298 264
Loss (gain) on sales of assets, net 5 (62) (19)
Impairment loss and casualty (gain) loss, net 9 696 (18)
Equity in losses (earnings) from investments in affiliates 7 22 (14)
Other loss (gain), net 7 15 (45)
Share-based compensation expense 19 20 16
Amortization of deferred financing costs 12 9 5
Distributions from unconsolidated affiliates 0 5 22
Deferred Income Taxes (1) (30) 5
Changes in operating assets and liabilities:      
Accounts receivable, net (70) 152 (3)
Prepaid expenses 4 44 6
Other assets (12) (22) (20)
Accounts payable and accrued expenses 0 (51) (28)
Due to hotel managers 23 (71) 7
Other liabilities 27 (21) 10
Other 4 2 (5)
Net cash (used in) provided by operating activities (137) (438) 499
Investing Activities:      
Acquisitions, net of cash and restricted cash acquired 0 0 (914)
Capital expenditures for property and equipment (54) (86) (240)
Proceeds from asset dispositions, net 454 207 429
Proceeds from the sale of investments in affiliates, net 0 1 51
Insurance proceeds for property damage claims 4 1 39
Contributions to unconsolidated affiliates (6) (4) 0
Purchase of investment security, net (4)    
Net cash provided by (used in) investing activities 394 119 (635)
Financing Activities:      
Proceeds from issuance of Senior Secured Note 750 1,376 0
Borrowings from credit facilities 0 1,000 850
Repayments of credit facilities (1,193) (1,099) (232)
Proceeds from Issuance of Mortgage Debt 14    
Repayments of mortgage debt (20) (6) 0
Debt issuance costs (15) (39) (11)
Dividends paid 0 (241) (494)
Distributions to noncontrolling interests, net (6) (1) (9)
Tax withholdings on share-based compensation (5) (10) (7)
Repurchase of common stock 0 (66) 0
Net cash (used in) provided by financing activities (475) 914 97
Net (decrease) increase in cash and cash equivalents and restricted cash (218) 595 (39)
Cash and cash equivalents and restricted cash, beginning of period 981 386 425
Cash and cash equivalents and restricted cash, end of period $ 763 $ 981 $ 386