XML 57 R46.htm IDEA: XBRL DOCUMENT v3.20.2
Debt - Schedule of Debt (Detail) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2020
Dec. 31, 2019
Oct. 31, 2016
Debt Instrument [Line Items]      
Finance lease obligations $ 1 $ 1  
Debt and financing lease obligations, gross 5,157 3,886  
Add: unamortized premium 4 3  
Less: unamortized deferred financing costs and discount (40) (18)  
Debt 5,121 3,871  
SF CMBS Loan [Member]      
Debt Instrument [Line Items]      
Debt, gross $ 725 [1] 725 [1] $ 725
Debt instrument, interest rate, stated percentage [1] 4.11%    
Maturity Date [1] 2023-11    
HHV CMBS Loan [Member]      
Debt Instrument [Line Items]      
Debt, gross $ 1,275 [1] 1,275 [1] $ 1,275
Debt instrument, interest rate, stated percentage [1] 4.20%    
Maturity Date [1] 2026-11    
Mortgage Loans [Member]      
Debt Instrument [Line Items]      
Debt, gross $ 510 515  
Debt instrument, weighted average interest rate 4.17%    
Maturity Date, start year [2],[3] 2020    
Maturity Date, end year [2],[3] 2026    
2016 Term Loan [Member]      
Debt Instrument [Line Items]      
Debt, gross [4]   700  
Maturity Date [4] 2021-12    
2025 Senior Secured Notes [Member]      
Debt Instrument [Line Items]      
Senior Secured Notes $ 650    
Debt instrument, interest rate, stated percentage 7.50%    
Maturity Date 2025-06    
2028 Senior Secured Notes [Member]      
Debt Instrument [Line Items]      
Senior Secured Notes $ 725    
Debt instrument, interest rate, stated percentage 5.88%    
Maturity Date 2028-10    
Finance Lease Obligations [Member]      
Debt Instrument [Line Items]      
Debt instrument, interest rate, stated percentage 3.07%    
Maturity Date, start year 2021    
Maturity Date, end year 2022    
2019 Term Facility [Member]      
Debt Instrument [Line Items]      
Debt, gross [5] $ 670 $ 670  
Maturity Date [5] 2024-09    
2019 Term Facility [Member] | LIBOR [Member]      
Debt Instrument [Line Items]      
Debt instrument, interest rate [5] 2.65%    
Revolver [Member]      
Debt Instrument [Line Items]      
Debt, gross [5] $ 601    
Maturity Date 2021-12    
Maturity Date, start year [5],[6] 2021    
Maturity Date, end year [5],[6] 2023    
Revolver [Member] | LIBOR [Member]      
Debt Instrument [Line Items]      
Debt instrument, interest rate [5] 3.00%    
[1] In October 2016, we entered into a $725 million CMBS loan secured by the Hilton San Francisco Union Square and the Parc 55 Hotel San Francisco (“SF CMBS Loan”) and a $1.275 billion CMBS loan secured by the Hilton Hawaiian Village Waikiki Beach Resort (“HHV CMBS Loan”).
[2] Assumes the exercise of all extensions that are exercisable solely at our option. The mortgage loan for Hilton Denver City Center matures in 2042 but is callable by the lender beginning August 2022. 
[3] We are actively negotiating a one-year maturity date extension for the $12 million loan secured by the Doubletree Spokane to October 2021. The loan was not paid in full at its originally scheduled maturity date in October 2020 due to current market conditions. Failure to pay off the loan constitutes an event of default; however, we have not received, nor do we expect to receive, notice of the lenders’ intent to foreclose.
[4] In September 2020, the 2016 Term Loan was fully repaid
[5] In May 2020, we amended our credit and term loan facilities which added a LIBOR floor of 25 basis points.
[6] In September 2020, we increased our aggregate commitments under the Revolver by $75 million to $1.075 billion and extended the maturity date with respect to $901 million of the aggregate commitments for two years to December 2023, including all $75 million of the increased Revolver commitments. The maturity date for the remaining $174 million of commitments under the Revolver is December 2021.