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Acquisitions and Dispositions
3 Months Ended
Mar. 31, 2023
Business Combinations [Abstract]  
Acquisitions and Dispositions

Note 3: Acquisitions and Dispositions

Acquisitions

In March 2023, we purchased two parcels of land, including all improvements, adjacent to the Hilton Hawaiian Village Waikiki Beach Resort, for approximately $18 million, including transaction costs. We accounted for the purchase as an acquisition of an asset, and the entire purchase price was allocated to land.

Dispositions

In February 2023, we sold the Hilton Miami Airport hotel for gross proceeds of $118.25 million. We recognized a net gain of approximately $15 million, which is included in gain on sale of assets, net in our condensed consolidated statements of operations.