Property and Equipment

6 Months Ended

Jun. 30, 2022

Property, Plant and Equipment [Abstract]

Property and Equipment

Note 4: Property and Equipment

Property and equipment were:

	June 30, 2022(1)			December 31, 2021
	(in millions)
Land	$	3,329		$	3,333
Buildings and leasehold improvements		6,526			6,606
Furniture and equipment		1,000			1,005
Construction-in-progress		91			82
		10,946			11,026
Accumulated depreciation and amortization		(2,620	)		(2,515	)
	$	8,326		$	8,511

(1) Excludes $7 million of property and equipment, net, classified as held for sale as of June 30, 2022.

Depreciation of property and equipment was $68 million and $71 million during the three months ended June 30, 2022 and 2021, respectively, and $136 million and $144 million during the six months ended June 30, 2022 and 2021, 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.