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Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2019
Fair Value Disclosures [Abstract]  
Fair Value of Debt and Hierarchy Level Used to Estimate Fair Values

The fair value of our debt and the hierarchy level we used to estimate fair values are shown below:

 

 

 

 

 

 

 

December 31, 2019

 

 

December 31, 2018

 

 

 

Hierarchy

Level

 

 

Carrying

Amount

 

 

Fair Value

 

 

Carrying

Amount

 

 

Fair Value

 

 

 

 

 

 

 

(in millions)

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

SF CMBS Loan

 

 

3

 

 

$

725

 

 

$

740

 

 

$

725

 

 

$

706

 

HHV CMBS Loan

 

 

3

 

 

 

1,275

 

 

 

1,316

 

 

 

1,275

 

 

 

1,214

 

2016 Term Loan

 

 

3

 

 

 

700

 

 

 

698

 

 

 

750

 

 

 

732

 

2019 Term Facility

 

 

3

 

 

 

670

 

 

 

667

 

 

 

 

 

 

 

Mortgage loans

 

 

3

 

 

 

516

 

 

 

516

 

 

 

207

 

 

 

201