Debt (Tables)

9 Months Ended

Sep. 30, 2019

Debt Disclosure [Abstract]

Schedule of Debt

Debt balances and associated interest rates as of September 30, 2019 were:

			Principal balance as of
	Interest Rate at September 30, 2019	Maturity Date	September 30, 2019			December 31, 2018
			(in millions)
SF CMBS Loan	4.11%	November 2023	$	725		$	725
HHV CMBS Loan	4.20%	November 2026		1,275			1,275
Mortgage loans(1)	Average rate of 4.28%	2020 to 2026(3)		517			207
2016 Term Loan(2)	L + 1.45%	December 2021		750			750
2019 Term Facility	L + 1.40%	September 2024		850			—
Revolving credit facility(4)	L + 1.50%	December 2021(3)		—			—
Financing lease obligations	3.07%	2021 to 2022		1			1
				4,118			2,958
Add: unamortized premium				3			—
Less: unamortized deferred financing costs and    discount				(21	)		(10	)
			$	4,100		$	2,948

^{(1) Includes $310 million of mortgage loans assumed in connection with the Merger, all of which require payments of principal and interest on a      monthly basis.}

^{(2) The 2016 Term Loan was entered into in December 2016, with a maturity date of December 2021.}

^{(3) Assumes the exercise of all extensions that are exercisable solely at our option.}

^{(4) $1 billion available.}

Debt Maturities, Assuming the Exercise of all Extensions that are Exercisable Solely at our Option

The contractual maturities of our debt, assuming the exercise of all extensions that are exercisable solely at our option, as of September 30, 2019 were:

Year	(in millions)
2019	$	2
2020		20
2021		759
2022		97
2023		827
Thereafter(1)		2,413
	$	4,118

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