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Consolidated Variable Interest Entities and Investments in Affiliates (Tables)

3 Months Ended

Mar. 31, 2018

Consolidated Variable Interest Entities And Investments In Affiliates [Abstract]

Schedule of Assets and Liabilities Included in Consolidated Balance Sheets

Our condensed consolidated balance sheets include the following assets and liabilities of these entities:

	March 31, 2018		December 31, 2017
	(in millions)
Property and equipment, net	$	222	$	215
Cash and cash equivalents		9		14
Restricted cash		5		7
Accounts receivable, net		2		2
Prepaid expenses		1		2
Debt		207		207
Accounts payable and accrued expenses		8		8
Due to hotel manager		1		1
Other liabilities		1		1

Schedule of Investment in Affiliates

Investments in affiliates were:

	Ownership %	March 31, 2018		December 31, 2017
		(in millions)
Hilton Berlin⁽¹⁾	40%	$	35	$	33
Hilton San Diego Bayfront	25%		21		20
All others (7 hotels)	20% - 50%		31		31
		$	87	$	84

⁽¹⁾

In April 2018, we and the other owners of the entities that own the Hilton Berlin, entered into an agreement to sell the ownership interest in these entities for a gross sales price of 297 million euros, which is subject to customary pro rations and adjustments. The buyers provided a cash deposit of 30 million euros, which is held in escrow as earnest money.

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

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