Condensed Combined Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
ASSETS
Property and equipment, net	$ 8,516	$ 8,541
Investments in affiliates	82	81
Goodwill	604	604
Intangibles, net	43	44
Cash and cash equivalents	318	337
Restricted cash	18	13
Accounts receivable, net of allowance for doubtful accounts of $3 and $2	180	130
Prepaid expenses	51	58
Other assets	28	26
TOTAL ASSETS (variable interest entities - $242 and $239)	9,840	9,834
Liabilities
Debt	3,012	3,012
Accounts payable and accrued expenses	174	167
Due to hotel manager	125	91
Due to Hilton Grand Vacations	210	210
Deferred income tax liabilities	146	2,437
Other liabilities	202	94
Total liabilities (variable interest entities - $216 and $262)	3,869	6,011
Commitments and contingencies - refer to Note 12
Stockholders' Equity
Common stock, par value $0.01 per share, 6,000,000,000 shares authorized, 214,767,295 shares issued and outstanding as of March 31, 2017	2
Additional paid-in capital	3,820
Retained earnings	2,258
Accumulated other comprehensive loss	(60)	(67)
Net Parent investment		3,939
Total stockholders' equity	6,020	3,872
Noncontrolling interests	(49)	(49)
Total equity	5,971	3,823
TOTAL LIABILITIES AND EQUITY	$ 9,840	$ 9,834