Geographic and Business Segment Information

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

Geographic and Business Segment Information

Note 14: Geographic and Business Segment Information

As of December 31, 2020, we have two operating segments, our consolidated hotels and unconsolidated hotels. Our unconsolidated hotels operating segment does not meet the definition of a reportable segment, thus our consolidated hotels is our only reportable segment. We evaluate our consolidated hotels primarily based on hotel adjusted earnings (loss) before interest expense, taxes and depreciation and amortization (“EBITDA”). Hotel Adjusted EBITDA is calculated as EBITDA from hotel operations, adjusted to exclude:

• Gains or losses on sales of assets for both consolidated and unconsolidated investments;

• Costs associated with hotel acquisitions or dispositions expensed during the period;

• Severance expense;

• Share-based compensation expense;

• Impairment losses and casualty gains or losses; and

• Other items that we believe are not representative of our current or future operating performance.

The following table presents revenues for our consolidated hotels reconciled to our consolidated amounts and net (loss) income to Hotel Adjusted EBITDA:

	Year Ended December 31,
	2020			2019			2018
	(in millions)
Revenues:
Total consolidated hotel revenue	$	823		$	2,767		$	2,665
Other revenues		29			77			72
Total revenues	$	852		$	2,844		$	2,737
Net (loss) income	$	(1,444	)	$	316		$	477
Other revenues		(29	)		(77	)		(72	)
Impairment loss and casualty (gain) loss, net		696			(18	)		(1	)
Depreciation and amortization expense		298			264			277
Corporate general and administrative expense		61			61			64
Acquisition costs		10			70			—
Other operating expenses		36			78			73
Gain on sales of assets, net		(62	)		(19	)		(96	)
Interest income		(2	)		(6	)		(6	)
Interest expense		213			140			127
Equity in losses (earnings) from investments in affiliates		22			(14	)		(18	)
Income tax (benefit) expense		(6	)		35			23
Other loss (gain), net		15			(45	)		(99	)
Severance expense		33			2			2
Other items		12			15			10
Hotel Adjusted EBITDA	$	(147	)	$	802		$	761

The following table presents total assets for our consolidated hotels, reconciled to total assets:

	December 31,
	2020		2019
	(in millions)
Consolidated hotels	$	10,568	$	11,236
All other		19		54
Total assets	$	10,587	$	11,290

The following table presents total revenues and property and equipment, net for each of the geographical areas in which we operate:

	As of and for the Year Ended December 31,
	2020				2019				2018
	Revenues		Property and Equipment, net		Revenues		Property and Equipment, net(1)		Revenues		Property and Equipment, net
	(in millions)
United States(2)	$	849	$	9,193	$	2,804	$	9,594	$	2,676	$	7,906
All other		3		—		40		—		61		69
	$	852	$	9,193	$	2,844	$	9,594	$	2,737	$	7,975

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

⁽²⁾ Includes revenues of $2 million, $11 million and $14 million for the years ended December 31, 2020, 2019 and 2018 from our laundry operations, which is not part of our segment and was permanently closed as of December 31, 2020. Also includes property and equipment, net of $2 million, $5 million and $5 million as of December 31, 2020, 2019 and 2018, respectively, from our laundry operations.