Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
ASSETS
Property and equipment, net	$ 9,255	$ 9,594	[1]
Assets held for sale, net		71
Investments in affiliates	17	35
Goodwill		607
Intangibles, net	45	46
Cash and cash equivalents	1,134	346
Restricted cash	35	40
Accounts receivable, net of allowance for doubtful accounts of $4 and $2	36	180
Prepaid expenses	43	83
Other assets	53	40
Operating lease right-of-use assets	235	248
TOTAL ASSETS (variable interest entities - $234 and $242)	10,853	11,290
Liabilities
Debt	5,121	3,871
Accounts payable and accrued expenses	168	217
Due to hotel managers	102	159
Deferred income tax liabilities	34	50
Other liabilities	124	282
Operating lease liabilities	249	260
Total liabilities (variable interest entities - $217 and $219)	5,798	4,839
Commitments and contingencies - refer to Note 13
Stockholders' Equity
Common stock, par value $0.01 per share, 6,000,000,000 shares authorized, 235,914,952 shares issued and 235,613,445 shares outstanding as of September 30, 2020 and 239,589,639 shares issued and 239,386,877 shares outstanding as of December 31, 2019	2	2
Additional paid-in capital	4,512	4,575
Retained earnings	595	1,922
Accumulated other comprehensive loss	(5)	(3)
Total stockholders' equity	5,104	6,496
Noncontrolling interests	(49)	(45)
Total equity	5,055	6,451
TOTAL LIABILITIES AND EQUITY	$ 10,853	$ 11,290

[1] Excludes $62 million of property and equipment, net, classified as held for sale as of December 31, 2019.