Note 10: Leases

We lease hotel properties, land and equipment under operating and capital leases. As of December 31, 2017 and 2016, we had operating leases for five hotels and a capital lease for one hotel. We also lease land for 13 hotels and certain facilities for eight hotels. Our leases expire at various dates from 2018 through 2141, with varying renewal options, and the majority expire before 2027.

Our operating leases may require minimum rent payments, contingent rent payments based on a percentage of revenue or income or rent payments equal to the greater of a minimum rent or contingent rent. In addition, we may be required to pay some, or all, of the capital costs for property and equipment in the hotel during the term of the lease.

Amortization of capital lease assets is recorded in Depreciation and amortization in our consolidated statements of comprehensive income and is recognized over the lease term.

The future minimum rent payments under non-cancelable leases, due in each of the next five years and thereafter as of December 31, 2017, were:

	Operating Leases		Capital Leases
Year	(in millions)
2018	$	26	$	1
2019		24		1
2020		25		1
2021		25		1
2022		25		1
Thereafter		201		74
Total minimum rent payments	$	326		79
Less: amount representing interest				(63	)
Present value of net minimum rent payments			$	16

Rent expense for all operating leases, included in other property-level expenses, was:

	Year Ended December 31,
	2017		2016		2015
	(in millions)
Minimum rentals	$	26	$	25	$	26
Contingent rentals		23		21		22
	$	49	$	46	$	48