Accounts Payable and Accrued Expenses and Other Liabilities

6 Months Ended

Jun. 30, 2019

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 June 30, 2019 and December 31, 2018 (in millions):


	June 30, 2019		December 31, 2018

Due to hotel manager	$	49	$	44
Real estate taxes		20		23
Sales and occupancy taxes		11		8
Interest		3		3
Other accounts payable and accrued expenses		18		21
Total accounts payable and accrued expenses	$	101	$	99

Operating lease liabilities ⁽¹⁾	$	28	$	—
Property insurance financing		9		—
Below market leases, net		6		6
Other liabilities		8		5
Total other liabilities	$	51	$	11

(1)

As of June 30, 2019, the incremental borrowing rate and the remaining maturity for our ground leases and corporate office lease was a weighted average of 8.6% and 29 years.