Business Segment Information (Tables)

12 Months Ended

Dec. 31, 2023

Reconciliation of Revenues from Consolidated Hotels to Condensed Combined Consolidated Amounts and Net Loss to Hotel Adjusted EBITDA

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


	Year Ended December 31,
	2023		2022		2021

	(in millions)
Revenues:
Total consolidated hotel revenues	$	2,613	$	2,426	$	1,311
Other revenues	85		75		51
Total revenues	$	2,698	$	2,501	$	1,362

Net income (loss)	$	106	$	173	$	(452)
Other revenues	(85)		(75)		(51)
Depreciation and amortization expense	287		269		281
Corporate general and administrative expense	65		63		62
Impairment and casualty loss	204		6		9
Other operating expenses	83		72		49
(Gain) loss on sales of assets, net	(15)		(13)		5
Gain on derecognition of assets	(221)		—		—
Interest income	(38)		(13)		(1)
Interest expense	207		217		228
Interest expense associated with hotels in receivership	45		30		30
Equity in (earnings) losses from investments in affiliates	(11)		(15)		7
Income tax expense	38		—		2
Other (gain) loss, net	(4)		(96)		7
Other items	25		12		1
Hotel Adjusted EBITDA	$	686	$	630	$	177

Schedule of Total Assets by Consolidated Hotels, Reconciled to Total Assets

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


	December 31,
	2023		2022

	(in millions)
Consolidated hotels	$	9,406	$	9,726
All other	13		5
Total assets	$	9,419	$	9,731