Combined Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2017		Dec. 31, 2016
ASSETS
Property and equipment, net	$ 8,311	[1]	$ 8,541
Assets held for sale, net	37
Investments in affiliates	84		81
Goodwill	606		604
Intangibles, net	41		44
Cash and cash equivalents	364		337
Restricted cash	15		13
Accounts receivable, net of allowance for doubtful accounts of $1 and $2	125		130
Prepaid expenses	48		58
Other assets	83		26
TOTAL ASSETS (variable interest entities - $245 and $239)	9,714		9,834
Liabilities
Debt	2,961		3,012
Accounts payable and accrued expenses	215		167
Due to hotel manager	141		91
Due to Hilton Grand Vacations	138		210
Deferred income tax liabilities	65		2,437
Other liabilities	232		94
Total liabilities (variable interest entities - $222 and $262)	3,752		6,011
Commitments and contingencies - refer to Note 17
Stockholders' Equity
Common stock, par value $0.01 per share, 6,000,000,000 shares authorized, 214,873,778 shares issued and 214,845,244 shares outstanding as of December 31, 2017	2
Additional paid-in capital	3,825
Retained earnings	2,229
Accumulated other comprehensive loss	(45)		(67)
Net Parent investment			3,939
Total stockholders' equity	6,011		3,872
Noncontrolling interests	(49)		(49)
Total equity	5,962		3,823
TOTAL LIABILITIES AND EQUITY	$ 9,714		$ 9,834

[1] Excludes $31 million of property and equipment, net classified as held for sale as of December 31, 2017.