Debt (Tables)

9 Months Ended

Sep. 30, 2017

Debt Disclosure [Abstract]

Schedule of Debt

Debt balances, including obligations for capital leases, and associated interest rates as of September 30, 2017, were:

			Principal balance as of
	Interest Rate at September 30, 2017	Maturity Date	September 30, 2017			December 31, 2016
			(in millions)
SF CMBS Loan(1)	4.11%	November 2023	$	725		$	725
HHV CMBS Loan(1)	4.20%	November 2026		1,275			1,275
Mortgage loans	Average rate of 4.03%	2020 to 2026(2)		207			207
Term loan	L + 1.45%	December 2021		750			750
Revolving credit facility(3)	L + 1.50%	December 2021(2)		—			—
Unsecured notes	7.50%	December 2017		55			55
Capital lease obligations	Average rate of 7.00%	2019 to 2094		15			14
				3,027			3,026
Less: unamortized deferred financing costs and    discount				(12	)		(14	)
			$	3,015		$	3,012

⁽¹⁾ In October 2016, we entered into a $725 million commercial mortgaged-back securities (“CMBS”) loan secured by the Hilton San Francisco Union Square and the Parc 55 Hotel San Francisco (“SF CMBS Loan”) and a $1.275 billion CMBS loan secured by the Hilton Hawaiian Village (“HHV CMBS Loan”).

⁽²⁾ Assumes the exercise of all extensions that are exercisable solely at our option.

⁽³⁾ $1 billion available.

Debt Maturities

The contractual maturities of our debt as of September 30, 2017 were:

Year	(in millions)
2017	$	55
2018		—
2019		—
2020(1)		12
2021		750
Thereafter		2,210
	$	3,027

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