Accounts Payable and Accrued Expenses and Other Liabilities

3 Months Ended

Mar. 31, 2019

Payables And Accruals [Abstract]

Accounts Payable and Accrued Expenses and Other Liabilities

NOTE 7. ACCOUNTS PAYABLE AND ACCRUED EXPENSES AND OTHER LIABILITIES

Accounts payable, accrued expenses and other liabilities include the following as of March 31, 2019 and December 31, 2018 (in millions):

	March 31, 2019		December 31, 2018
Due to hotel manager	$	49	$	44
Real estate taxes		15		23
Sales and occupancy taxes		12		8
Interest		3		3
Other accounts payable and accrued expenses		18		21
Total accounts payable and accrued expenses	$	97	$	99
Operating lease liabilities	$	27	$	—
Below market leases, net		6		6
Share repurchase		2		—
Other liabilities		8		5
Total other liabilities	$	43	$	11

With our adoption of the new lease standard, effective January 1, 2019, we recorded a lease liability of $27 million related to our ground leases. As of March 31, 2019, the incremental borrowing rate and the remaining maturity for these ground leases was a weighted average of 8.7% and 30 years, respectively.