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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Revenues      
Total revenues $ 2,698 $ 2,501 $ 1,362
Operating expenses      
Other property 241 223 191
Impairment and casualty loss 204 6 9
Depreciation and amortization 287 269 281
Corporate general and administrative 65 63 62
Other 83 72 49
Total expenses 2,591 2,218 1,536
Gain (loss) on sales of assets, net 15 13 (5)
Gain on derecognition of assets 221 0 0
Operating income (loss) 343 296 (179)
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)
Other gain (loss), net 4 96 (7)
Income (loss) before income taxes 144 173 (450)
Income tax expense (38) 0 (2)
Net income (loss) 106 173 (452)
Net income attributable to noncontrolling interests (9) (11) (7)
Net income (loss) attributable to stockholders 97 162 (459)
Other comprehensive income, net of tax expense:      
Change in fair value of interest rate swap, net of tax expense of $0 0 0 2
Loss from interest rate swap reclassified into earnings 0 0 2
Other comprehensive income 0 0 4
Comprehensive income (loss) 106 173 (448)
Comprehensive income attributable to noncontrolling interests (9) (11) (7)
Comprehensive income (loss) attributable to stockholders $ 97 $ 162 $ (455)
Earnings (loss) per share:      
Earnings (loss) per share - Basic (in dollars per share) $ 0.44 $ 0.71 $ (1.95)
Earnings (loss) per share - Diluted (in dollars per share) $ 0.44 $ 0.71 $ (1.95)
Weighted average shares outstanding - Basic (in shares) 214 228 236
Weighted average shares outstanding – Diluted (in shares) 215 228 236
Rooms      
Revenues      
Total revenues $ 1,653 $ 1,559 $ 870
Operating expenses      
Cost of goods and services sold 449 408 254
Food and beverage      
Revenues      
Total revenues 696 606 251
Operating expenses      
Cost of goods and services sold 501 449 208
Ancillary hotel      
Revenues      
Total revenues 264 261 190
Other      
Revenues      
Total revenues 85 75 51
Other departmental and support      
Operating expenses      
Cost of goods and services sold 635 613 423
Management fees      
Operating expenses      
Cost of goods and services sold $ 126 $ 115 $ 59