HYATT HOTELS CORP, 10-Q filed on 11/4/2021
Quarterly Report
v3.21.2
Cover Page - shares
 9 Months Ended
Sep. 30, 2021
Oct. 29, 2021
Document Information    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Sep. 30, 2021  
Document Transition Report false  
Entity File Number 001-34521  
Entity Registrant Name HYATT HOTELS CORP  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 20-1480589  
Entity Address, Address Line One 150 North Riverside Plaza  
Entity Address, Address Line Two 8th Floor  
Entity Address, City or Town Chicago  
Entity Address, State or Province IL  
Entity Address, Postal Zip Code 60606  
City Area Code 312  
Local Phone Number 750-1234  
Title of 12(b) Security Class A Common Stock, $0.01 par value  
Trading Symbol H  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Emerging Growth Company false  
Entity Shell Company false  
Entity Central Index Key 0001468174  
Current Fiscal Year End Date --12-31  
Document Fiscal Year Focus 2021  
Document Fiscal Period Focus Q3  
Amendment Flag false  
Common Class A    
Document Information    
Entity Common Stock, Shares Outstanding   50,301,183
Common Class B    
Document Information    
Entity Common Stock, Shares Outstanding   59,653,271
v3.21.2
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
REVENUES:        
Total revenues $ 851 $ 399 $ 1,952 $ 1,642
DIRECT AND SELLING, GENERAL, AND ADMINISTRATIVE EXPENSES:        
Depreciation and amortization 71 80 219 233
Other direct costs 31 9 78 50
Selling, general, and administrative 69 69 250 217
Direct and selling, general, and administrative expenses 844 567 2,170 2,063
Net gains (losses) and interest income from marketable securities held to fund rabbi trusts (1) 22 35 23
Equity earnings (losses) from unconsolidated hospitality ventures (12) (20) 8 (45)
Interest expense (40) (35) (123) (87)
Gains on sales of real estate and other 307 0 412 8
Asset impairments 0 0 (2) (52)
Other income (loss), net (3) (19) 34 (114)
INCOME (LOSS) BEFORE INCOME TAXES 258 (220) 146 (688)
BENEFIT (PROVISION) FOR INCOME TAXES (138) 59 (339) 188
NET INCOME (LOSS) 120 (161) (193) (500)
NET INCOME (LOSS) ATTRIBUTABLE TO NONCONTROLLING INTERESTS 0 0 0 0
Net income (loss) attributable to Hyatt Hotels Corporation $ 120 $ (161) $ (193) $ (500)
EARNINGS (LOSSES) PER SHARE—Basic        
Net income (loss) (in dollars per share) $ 1.17 $ (1.59) $ (1.89) $ (4.93)
Net income loss attributable to Hyatt Hotels Corporation (in dollars per share) 1.17 (1.59) (1.89) (4.93)
EARNINGS (LOSSES) PER SHARE—Diluted        
Net income (loss) (in dollars per share) 1.15 (1.59) (1.89) (4.93)
Net income (loss) attributable to Hyatt Hotels Corporation (in dollars per share) $ 1.15 $ (1.59) $ (1.89) $ (4.93)
Owned and leased hotels        
REVENUES:        
Total revenues $ 263 $ 80 $ 558 $ 422
DIRECT AND SELLING, GENERAL, AND ADMINISTRATIVE EXPENSES:        
Costs of goods and services sold 208 131 506 495
Net management, franchise, and other fees        
REVENUES:        
Total revenues 104 45 243 160
Management, franchise, and other fees        
REVENUES:        
Total revenues 113 52 269 180
Contra revenue        
REVENUES:        
Total revenues (9) (7) (26) (20)
Other revenues        
REVENUES:        
Total revenues 28 7 69 45
Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties        
REVENUES:        
Total revenues 456 267 1,082 1,015
Costs incurred on behalf of managed and franchised properties        
DIRECT AND SELLING, GENERAL, AND ADMINISTRATIVE EXPENSES:        
Costs of goods and services sold $ 465 $ 278 $ 1,117 $ 1,068
v3.21.2
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Statement of Comprehensive Income [Abstract]        
Net income (loss) $ 120 $ (161) $ (193) $ (500)
Other comprehensive income (loss), net of taxes:        
Foreign currency translation adjustments, net of tax benefit (provision) of $— for the three and nine months ended September 30, 2021 and $(1) for the three and nine months ended September 30,2020, respectively. (24) 15 (53) (17)
Unrealized gains (losses) on available-for-sale debt securities, net of tax benefit (provision) of $— for the three and nine months ended September 30, 2021 and September 30, 2020 0 0 (1) 0
Unrealized gains (losses) on derivative activity, net of tax benefit (provision) of $— for the three and nine months ended September 30, 2021 and $— and $9 for the three and nine months ended September 30, 2020, respectively. 1 2 5 (24)
Other comprehensive income (loss) (23) 17 (49) (41)
COMPREHENSIVE INCOME (LOSS) 97 (144) (242) (541)
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO NONCONTROLLING INTERESTS 0 0 0 0
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO HYATT HOTELS CORPORATION $ 97 $ (144) $ (242) $ (541)
v3.21.2
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME LOSS - Parentheticals - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Statement of Comprehensive Income [Abstract]        
Foreign currency translation adjustments, tax $ 0 $ (1) $ 0 $ (1)
Unrealized gains (losses) on available-for-sale debt securities, tax 0 0 0 0
Unrealized gains (losses) on derivative activity, tax $ 0 $ 0 $ 0 $ 9
v3.21.2
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Sep. 30, 2021
Dec. 31, 2020
CURRENT ASSETS:    
Cash and cash equivalents $ 2,418 $ 1,207
Restricted cash 15 [1] 11
Short-term investments 357 675
Receivables, net of allowances of $58 and $56 at September 30, 2021 and December 31, 2020, respectively 373 316
Inventories 9 9
Prepaids and other assets 59 64
Prepaid income taxes 8 281
Total current assets 3,239 2,563
Equity method investments 249 260
Property and equipment, net 2,876 3,126
Financing receivables, net of allowances of $57 and $114 at September 30, 2021 and December 31, 2020, respectively 31 29
Operating lease right-of-use assets 455 474
Goodwill 288 288
Intangibles, net 363 385
Deferred tax assets 15 207
Other assets 1,961 1,797
TOTAL ASSETS 9,477 9,129
CURRENT LIABILITIES:    
Current maturities of long-term debt 10 260
Accounts payable 109 102
Accrued expenses and other current liabilities 305 200
Current contract liabilities 306 282
Accrued compensation and benefits 116 111
Current operating lease liabilities 30 29
Total current liabilities 876 984
Long-term debt 2,978 2,984
Long-term contract liabilities 666 659
Long-term operating lease liabilities 360 377
Other long-term liabilities 1,008 911
Total liabilities 5,888 5,915
Commitments and contingencies (see Note 12)
EQUITY:    
Preferred stock, $0.01 par value per share, 10,000,000 shares authorized and none outstanding at September 30, 2021 and December 31, 2020 0 0
Common stock, value 1 1
Additional paid-in capital 630 13
Retained earnings 3,196 3,389
Accumulated other comprehensive loss (241) (192)
Total stockholders' equity 3,586 3,211
Noncontrolling interests in consolidated subsidiaries 3 3
Total equity 3,589 3,214
TOTAL LIABILITIES AND EQUITY $ 9,477 $ 9,129
[1] Restricted cash generally represents debt service on bonds, escrow deposits, and other arrangements.
v3.21.2
CONDENSED CONSOLIDATED BALANCE SHEETS - Parentheticals - USD ($)
$ in Millions
Sep. 30, 2021
Dec. 31, 2020
Allowance for doubtful accounts receivable, current $ 58 $ 56
Financing receivable, allowance for credit loss $ 57 $ 114
Preferred stock, par value per share (in dollars per share) $ 0.01 $ 0.01
Preferred stock, shares authorized (in shares) 10,000,000 10,000,000
Preferred stock, shares outstanding (in shares) 0 0
Common Class A    
Common stock, par value per share (in dollars per share) $ 0.01 $ 0.01
Common stock, shares authorized (in shares) 1,000,000,000 1,000,000,000
Common stock, shares, outstanding (in shares) 50,287,596 39,250,241
Shares, issued (in shares) 50,287,596 39,250,241
Common Class B    
Common stock, par value per share (in dollars per share) $ 0.01 $ 0.01
Common stock, shares authorized (in shares) 391,647,683 394,033,330
Common stock, shares, outstanding (in shares) 59,653,271 62,038,918
Shares, issued (in shares) 59,653,271 62,038,918
v3.21.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (193) $ (500)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 219 233
Gains on sales of real estate and other (412) (8)
Amortization of share awards 49 24
Amortization of operating lease right-of-use assets 20 23
Deferred income taxes 210 (59)
Asset impairments 2 52
Equity (earnings) losses from unconsolidated hospitality ventures (8) 45
Contra revenue 26 20
Unrealized (gains) losses, net (20) 36
Working capital changes and other 316 (329)
Net cash provided by (used in) operating activities 209 (463)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of marketable securities and short-term investments (693) (622)
Proceeds from marketable securities and short-term investments 1,002 399
Contributions to equity method and other investments (28) (57)
Return of equity method and other investments 25 5
Acquisitions, net of cash acquired (237) 0
Capital expenditures (65) (104)
Issuance of financing receivables (20) (11)
Proceeds from sales of real estate, net of cash disposed 759 78
Other investing activities (5) (6)
Net cash provided by (used in) investing activities 738 (318)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from debt, net of issuance costs of $— and $15, respectively 0 2,035
Repayments of debt (258) (405)
Repurchases of common stock 0 (69)
Proceeds from issuance of Class A common stock, net of offering costs of $25 and $—, respectively 575 0
Dividends paid 0 (20)
Other financing activities (17) (14)
Net cash provided by financing activities 300 1,527
EFFECT OF EXCHANGE RATE CHANGES ON CASH (3) 1
NET INCREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH 1,244 747
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH—BEGINNING OF YEAR 1,237 1,063
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH—END OF PERIOD 2,481 1,810
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Cash and cash equivalents 2,418 1,778
Restricted cash [1] 15 12
Restricted cash included in other assets [1] 48 20
Total cash, cash equivalents, and restricted cash 2,481 1,810
Cash paid during the period for interest 116 73
Cash paid (received) during the period for income taxes, net (244) 54
Cash paid for amounts included in the measurement of operating lease liabilities 27 32
Non-cash investing and financing activities are as follows:    
Non-cash contributions to equity method and other investments (see Note 6, Note 12) 42 33
Change in accrued capital expenditures 1 (7)
Non-cash right-of-use assets obtained in exchange for operating lease liabilities (see Note 6) $ 16 $ 14
[1] Restricted cash generally represents debt service on bonds, escrow deposits, and other arrangements.
v3.21.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - Parenthetical - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Statement of Cash Flows [Abstract]    
Debt issuance cost $ 0 $ 15
Common stock net issuance costs $ 25 $ 0
v3.21.2
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($)
$ in Millions
Total
Common Stock Amount
Additional Paid-in Capital
Retained Earnings
Accumulated Other Comprehensive Loss
Noncontrolling Interests in Consolidated Subsidiaries
Common Class A
Common Class A
Common Stock Amount
Common Class B
Common Class B
Common Stock Amount
Balance, beginning of period (in shares) at Dec. 31, 2019               36,109,179   65,463,274
Balance, beginning of period at Dec. 31, 2019 $ 3,966 $ 1   $ 4,169 $ (209) $ 5        
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Total comprehensive income (loss) (179)     (103) (76)          
Noncontrolling interests (2)         (2)        
Repurchase of common stock (in shares)               (827,643)    
Repurchase of common stock (69)   $ (12) (57)            
Employee stock plan issuance (in shares)               16,654    
Employee stock plan issuance 1   1              
Share-based payment activity (in shares)               271,863    
Share-based payment activity 11   11              
Cash dividends (20)     (20)            
Balance, end of period (in shares) at Mar. 31, 2020               35,570,053   65,463,274
Balance, end of period at Mar. 31, 2020 3,708 1 0 3,989 (285) 3        
Balance, beginning of period (in shares) at Dec. 31, 2019               36,109,179   65,463,274
Balance, beginning of period at Dec. 31, 2019 3,966 1   4,169 (209) 5        
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Total comprehensive income (loss) (541)                  
Cash dividends             $ (7)   $ (13)  
Balance, end of period (in shares) at Sep. 30, 2020               38,466,898   62,696,948
Balance, end of period at Sep. 30, 2020 3,353 1 7 3,592 (250) 3        
Balance, beginning of period (in shares) at Mar. 31, 2020               35,570,053   65,463,274
Balance, beginning of period at Mar. 31, 2020 3,708 1 0 3,989 (285) 3        
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Total comprehensive income (loss) (218)     (236) 18          
Employee stock plan issuance (in shares)               35,338    
Employee stock plan issuance 2   2              
Share-based payment activity (in shares)               74,047    
Share-based payment activity 1   1              
Class share conversions (in shares)               2,435,243   (2,435,243)
Balance, end of period (in shares) at Jun. 30, 2020               38,114,681   63,028,031
Balance, end of period at Jun. 30, 2020 3,493 1 3 3,753 (267) 3        
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Total comprehensive income (loss) (144)     (161) 17          
Employee stock plan issuance (in shares)               11,628    
Employee stock plan issuance 0   0              
Share-based payment activity (in shares)               9,506    
Share-based payment activity 4   4              
Class share conversions (in shares)               331,083   (331,083)
Balance, end of period (in shares) at Sep. 30, 2020               38,466,898   62,696,948
Balance, end of period at Sep. 30, 2020 3,353 1 7 3,592 (250) 3        
Balance, beginning of period (in shares) at Dec. 31, 2020               39,250,241   62,038,918
Balance, beginning of period at Dec. 31, 2020 3,214 1 13 3,389 (192) 3        
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Total comprehensive income (loss) (349)     (304) (45)          
Employee stock plan issuance (in shares)               10,992    
Employee stock plan issuance 1   1              
Share-based payment activity (in shares)               462,103    
Share-based payment activity 22   22              
Class share conversions (in shares)               800,169   (800,169)
Balance, end of period (in shares) at Mar. 31, 2021               40,523,505   61,238,749
Balance, end of period at Mar. 31, 2021 2,888 1 36 3,085 (237) 3        
Balance, beginning of period (in shares) at Dec. 31, 2020               39,250,241   62,038,918
Balance, beginning of period at Dec. 31, 2020 3,214 1 13 3,389 (192) 3        
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Total comprehensive income (loss) (242)                  
Balance, end of period (in shares) at Sep. 30, 2021               50,287,596   59,653,271
Balance, end of period at Sep. 30, 2021 3,589 1 630 3,196 (241) 3        
Balance, beginning of period (in shares) at Mar. 31, 2021               40,523,505   61,238,749
Balance, beginning of period at Mar. 31, 2021 2,888 1 36 3,085 (237) 3        
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Total comprehensive income (loss) 10     (9) 19          
Employee stock plan issuance (in shares)               9,603    
Employee stock plan issuance 1   1              
Share-based payment activity (in shares)               11,150    
Share-based payment activity 8   8              
Class share conversions (in shares)               614,831   (614,831)
Directors compensation 2   2              
Balance, end of period (in shares) at Jun. 30, 2021               41,159,089   60,623,918
Balance, end of period at Jun. 30, 2021 2,909 1 47 3,076 (218) 3        
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Total comprehensive income (loss) 97     120 (23)          
Employee stock plan issuance (in shares)               12,129    
Share-based payment activity (in shares)               95,731    
Share-based payment activity 8   8              
Class share conversions (in shares)               970,647   (970,647)
Issuance of Class A common stock (in shares)               8,050,000    
Issuance of Class A common stock 575   575              
Balance, end of period (in shares) at Sep. 30, 2021               50,287,596   59,653,271
Balance, end of period at Sep. 30, 2021 $ 3,589 $ 1 $ 630 $ 3,196 $ (241) $ 3        
v3.21.2
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - Parenthetical - $ / shares
 3 Months Ended
Mar. 09, 2020
Mar. 31, 2020
Statement of Stockholders' Equity [Abstract]    
Cash dividend (in dollars per share) $ 0.20 $ 0.20
v3.21.2
ORGANIZATION
 9 Months Ended
Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
ORGANIZATION ORGANIZATION
Hyatt Hotels Corporation, a Delaware corporation, and its consolidated subsidiaries (collectively "Hyatt Hotels Corporation") provides hospitality and other services on a worldwide basis through the operation, management, franchising, ownership, development, and licensing of hospitality businesses. We operate, manage, franchise, own, lease, develop, license, or provide services to a portfolio of properties. At September 30, 2021, (i) we operated or franchised 505 full service hotels, comprising 169,567 rooms throughout the world, (ii) we operated or franchised 523 select service hotels, comprising 75,312 rooms, of which 438 hotels are located in the United States, and (iii) our portfolio included 9 franchised all-inclusive Hyatt-branded resorts, comprising 3,591 rooms. At September 30, 2021, our portfolio of properties operated in 69 countries around the world. Additionally, through strategic relationships, we provide certain reservation and/or loyalty program services to hotels that are unaffiliated with our hotel portfolio and operate under other tradenames or marks owned by such hotels or licensed by third parties.
As used in these Notes and throughout this Quarterly Report on Form 10-Q, (i) the terms "Hyatt," "Company," "we," "us," or "our" mean Hyatt Hotels Corporation and its consolidated subsidiaries, (ii) the term "hotel portfolio" refers to our full service hotels, including our wellness resorts, and our select service hotels, (iii) the terms "properties," "portfolio of properties," or "property portfolio" refer to our hotel portfolio; all-inclusive resorts; and residential, vacation, and condominium ownership units that we operate, manage, franchise, own, lease, develop, license, or to which we provide services or license our trademarks, including under the Park Hyatt, Miraval, Grand Hyatt, Alila, Andaz, The Unbound Collection by Hyatt, Destination by Hyatt, Hyatt Regency, Hyatt, Hyatt Ziva, Hyatt Zilara, Thompson Hotels, Hyatt Centric, Caption by Hyatt, JdV by Hyatt, Hyatt House, Hyatt Place, UrCove, and Hyatt Residences Club brands, and (iv) the term "hospitality ventures" refers to entities in the hospitality industry in which we own less than a 100% equity interest.
The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information, the instructions to Form 10-Q, and Article 10 of Regulation S-X. Accordingly, they do not include all information or footnotes required by GAAP for complete annual financial statements. As a result, this Quarterly Report on Form 10-Q should be read in conjunction with the Consolidated Financial Statements and accompanying Notes in our Annual Report on Form 10-K for the fiscal year ended December 31, 2020 (the "2020 Form 10-K").
We have eliminated all intercompany accounts and transactions in our condensed consolidated financial statements. We consolidate entities under our control, including entities where we are deemed to be the primary beneficiary.
Management believes the accompanying condensed consolidated financial statements reflect all adjustments, which are all of a normal recurring nature, considered necessary for a fair presentation of the interim periods.
Impact of the COVID-19 Pandemic
The COVID-19 pandemic and related travel restrictions and containment efforts have had a significant impact on the travel industry and, as a result, on our business. The impact began in the first quarter of 2020 and has continued in 2021. As a result, our financial results for the current interim period, and for the foreseeable future, are not comparable to past performance or indicative of long-term future performance.
The extent, duration, and magnitude of the COVID-19 pandemic's effects will depend on various factors, all of which are highly uncertain and difficult to predict, including, but not limited to, the impact of the pandemic on global and regional economies, travel, and economic activity; actions taken by governments, businesses, and individuals in response to the pandemic, any additional resurgence, or COVID-19 variants; and the distribution, efficacy, and broad acceptance of COVID-19 vaccines.
We are required to make estimates and assumptions that affect the amounts reported in our condensed consolidated financial statements and accompanying Notes. Our estimates and assumptions are subject to inherent risk and uncertainty due to the ongoing impact of the COVID-19 pandemic, and actual results could differ materially from our estimated amounts.
v3.21.2
RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS
 9 Months Ended
Sep. 30, 2021
Accounting Policies [Abstract]  
RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS
Future Adoption of Accounting Standards
Reference Rate Reform—In March 2020, the Financial Accounting Standards Board issued Accounting Standards Update No. 2020-04 ("ASU 2020-04"), Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. ASU 2020-04 provides optional expedients and exceptions that we can elect to adopt, subject to meeting certain criteria, regarding contract modifications, hedging relationships, and other transactions that reference the London Inter-bank Offered Rate for deposits of U.S. dollars ("LIBOR") or another reference rate expected to be discontinued by June 30, 2023 because of reference rate reform. The provisions of ASU 2020-04 are available through December 31, 2022, and we are currently assessing the impact of adopting ASU 2020-04.
v3.21.2
REVENUE FROM CONTRACTS WITH CUSTOMERS
 9 Months Ended
Sep. 30, 2021
Revenue from Contract with Customer [Abstract]  
REVENUE FROM CONTRACTS WITH CUSTOMERS REVENUE FROM CONTRACTS WITH CUSTOMERS
Disaggregated Revenues
The following tables present our revenues disaggregated by the nature of the product or service:
Three Months Ended September 30, 2021
Owned and leased hotelsAmericas management and franchisingASPAC management and franchisingEAME/SW Asia management and franchisingCorporate and otherEliminationsTotal
Rooms revenues$167 $— $— $— $— $(5)$162 
Food and beverage64 — — — — — 64 
Other 37 — — — — — 37 
Owned and leased hotels268 — — — — (5)263 
Base management fees— 41 10 7 — (8)50 
Incentive management fees— 6 4 3 — (3)10 
Franchise fees— 35 — 1 — — 36 
Other fees— 3 2 1 11 — 17 
Management, franchise, and other fees— 85 16 12 11 (11)113 
Contra revenue— (5)(1)(3)— — (9)
Net management, franchise, and other fees— 80 15 9 11 (11)104 
Other revenues— 24 — — 3 1 28 
Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties— 412 26 18 — — 456 
Total$268 $516 $41 $27 $14 $(15)$851 
Nine Months Ended September 30, 2021
Owned and leased hotelsAmericas management and franchisingASPAC management and franchisingEAME/SW Asia management and franchisingCorporate and otherEliminationsTotal
Rooms revenues$346 $— $— $— $— $(11)$335 
Food and beverage127 — — — — — 127 
Other96 — — — — — 96 
Owned and leased hotels569 — — — — (11)558 
Base management fees— 87 27 13 — (17)110 
Incentive management fees— 11 15 8 — (4)30 
Franchise fees— 80 1 1 — — 82 
Other fees— 11 8 3 25 — 47 
Management, franchise, and other fees— 189 51 25 25 (21)269 
Contra revenue— (14)(3)(9)— — (26)
Net management, franchise, and other fees— 175 48 16 25 (21)243 
Other revenues— 60 — — 8 1 69 
Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties— 966 70 46 — — 1,082 
Total$569 $1,201 $118 $62 $33 $(31)$1,952 
Three Months Ended September 30, 2020
Owned and leased hotelsAmericas management and franchisingASPAC management and franchisingEAME/SW Asia management and franchisingCorporate and otherEliminationsTotal
Rooms revenues$43 $— $— $— $— $(2)$41 
Food and beverage 20 — — — — — 20 
Other 19 — — — — — 19 
Owned and leased hotels82 — — — — (2)80 
Base management fees— 12 7 2 — (2)19 
Incentive management fees— — 5 2 — (1)6 
Franchise fees— 15 — — — — 15 
Other fees— 2 5 1 4 — 12 
Management, franchise, and other fees— 29 17 5 4 (3)52 
Contra revenue— (5)— (2)— — (7)
Net management, franchise, and other fees— 24 17 3 4 (3)45 
Other revenues— 4 — — 3 — 7 
Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties— 234 18 14 1 — 267 
Total$82 $262 $35 $17 $8 $(5)$399 
Nine Months Ended September 30, 2020
Owned and leased hotels Americas management and franchising ASPAC management and franchisingEAME/SW Asia management and franchisingCorporate and otherEliminations Total
Rooms revenues$236 $— $— $— $— $(10)$226 
Food and beverage128 — — — — — 128 
Other68 — — — — — 68 
Owned and leased hotels432 — — — — (10)422 
Base management fees— 60 16 10 — (12)74 
Incentive management fees— 1 8 4 — (1)12 
Franchise fees— 47 1 — — — 48 
Other fees— 13 17 3 13 — 46 
Management, franchise, and other fees— 121 42 17 13 (13)180 
Contra revenue— (13)(2)(5)— — (20)
Net management, franchise, and other fees— 108 40 12 13 (13)160 
Other revenues— 33 — — 12 — 45 
Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties— 904 62 46 3 — 1,015 
Total$432 $1,045 $102 $58 $28 $(23)$1,642 

Contract Balances
Our contract assets, included in receivables, net on our condensed consolidated balance sheets, were insignificant at both September 30, 2021 and December 31, 2020. As our profitability hurdles are generally calculated on a full-year basis, we expect our contract assets to be insignificant through year end.
Contract liabilities were comprised of the following:
September 30, 2021December 31, 2020
Deferred revenue related to the loyalty program$792 $733 
Advanced deposits59 44 
Initial fees received from franchise owners42 41 
Deferred revenue related to insurance programs4 47 
Other deferred revenue75 76 
Total contract liabilities$972 $941 
The following table summarizes the activity in our contract liabilities:
20212020
Beginning balance, January 1$941 $920 
Cash received and other238 311 
Revenue recognized(201)(336)
Ending balance, June 30$978 $895 
Cash received and other152 114 
Revenue recognized(158)(120)
Ending balance, September 30$972 $889 
Revenue recognized during the three months ended September 30, 2021 and September 30, 2020 included in the contract liabilities balance at the beginning of each year was $83 million and $57 million, respectively. Revenue recognized during the nine months ended September 30, 2021 and September 30, 2020 included in the contract liabilities balance at the beginning of the year was $230 million and $215 million, respectively. This revenue primarily relates to the loyalty program, which is recognized net of redemption reimbursements paid to third parties.
Revenue Allocated to Remaining Performance Obligations
Revenue allocated to remaining performance obligations represents contracted revenue that has not yet been recognized, which includes deferred revenue and amounts that will be invoiced and recognized as revenue in future periods. Contracted revenue expected to be recognized in future periods was approximately $110 million at September 30, 2021, of which we expect to recognize approximately 15% of the revenue over the next 12 months and the remainder thereafter.
v3.21.2
DEBT AND EQUITY SECURITIES
 9 Months Ended
Sep. 30, 2021
Investments, Debt and Equity Securities [Abstract]  
DEBT AND EQUITY SECURITIES DEBT AND EQUITY SECURITIES
Equity Method Investments
Equity method investments were $249 million and $260 million at September 30, 2021 and December 31, 2020, respectively.
The following table presents summarized financial information for all unconsolidated hospitality ventures in which we hold an investment accounted for under the equity method:
 Three Months Ended September 30,Nine Months Ended September 30,
 2021202020212020
Total revenues$89 $27 $171 $211 
Gross operating profit (loss)36 (11)31 34 
Loss from continuing operations(5)(57)(91)(143)
Net loss(5)(57)(91)(143)
During the nine months ended September 30, 2021, we received $17 million of proceeds related to sales activity of certain equity method investments and recognized an insignificant net loss in equity earnings (losses) from unconsolidated hospitality ventures within the owned and leased hotels segment on our condensed consolidated statements of income (loss).
During the nine months ended September 30, 2021, we purchased our partner's interest in the entities that own Grand Hyatt São Paulo for $6 million of cash, and we repaid the $78 million third-party mortgage loan on the property. We recognized a $69 million pre-tax gain in equity earnings (losses) from unconsolidated hospitality ventures on our condensed consolidated statements of income (loss) (see Note 6).
Marketable Securities
We hold marketable securities with readily determinable fair values to fund certain operating programs and for investment purposes. We periodically transfer available cash and cash equivalents to purchase marketable securities for investment purposes.
Marketable Securities Held to Fund Operating Programs—Marketable securities held to fund operating programs, which are recorded at fair value on our condensed consolidated balance sheets, were as follows:
September 30, 2021December 31, 2020
Loyalty program (Note 8)
$584 $567 
Deferred compensation plans held in rabbi trusts (Note 8 and Note 10)
543 511 
Captive insurance company (Note 8)
184 226 
Total marketable securities held to fund operating programs$1,311 $1,304 
Less: current portion of marketable securities held to fund operating programs included in cash and cash equivalents and short-term investments(192)(238)
Marketable securities held to fund operating programs included in other assets$1,119 $1,066 
Marketable securities held to fund operating programs included $128 million and $82 million of available-for-sale ("AFS") debt securities at September 30, 2021 and December 31, 2020, respectively, with contractual maturity dates ranging from 2021 through 2069. The fair value of our AFS debt securities approximates amortized cost. Additionally, marketable securities held to fund operating programs include $88 million and $70 million of equity securities with a readily determinable fair value at September 30, 2021 and December 31, 2020, respectively.
Net unrealized and realized gains (losses) from marketable securities held to fund operating programs recognized on our condensed consolidated financial statements were as follows:
v3.21.2
RECEIVABLES
 9 Months Ended
Sep. 30, 2021
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]  
RECEIVABLES RECEIVABLES        
Receivables
At September 30, 2021 and December 31, 2020, we had $373 million and $316 million of net receivables, respectively, on our condensed consolidated balance sheets.
The following table summarizes the activity in our receivables allowance:
20212020
Allowance at January 1$56 $34 
Provisions5 14 
Other (3)(10)
Allowance at June 30$58 $38 
Provisions1 7 
Other(1)1 
Allowance at September 30$58 $46 
                                            
Financing Receivables
September 30, 2021December 31, 2020
Unsecured financing to hotel owners$96 $145 
Less: current portion of financing receivables, included in receivables, net(8)(2)
Less: allowance for credit losses(57)(114)
Total long-term financing receivables, net of allowances$31 $29 
Allowance for Credit Losses—The following table summarizes the activity in our unsecured financing receivables allowance:
20212020
Allowance at January 1$114 $100 
Provisions6 5 
Allowance at June 30$120 $105 
   Write offs (1)(60)— 
   Provisions— 5 
   Foreign currency exchange, net(3)— 
Allowance at September 30$57 $110 
(1) The amount written off relates to a financing arrangement with a hotel owner, which was legally waived during the three months ended September 30, 2021.
Credit Monitoring—Our unsecured financing receivables were as follows:
September 30, 2021
 Gross loan balance (principal and interest)Related allowanceNet financing receivablesGross receivables on nonaccrual status
Loans$92 $(54)$38 $46 
Other financing arrangements4 (3)1 — 
Total unsecured financing receivables$96 $(57)$39 $46 
December 31, 2020
 Gross loan balance (principal and interest)Related allowanceNet financing receivablesGross receivables on nonaccrual status
Loans$83 $(54)$29 $53 
Other financing arrangements62 (60)2 58 
Total unsecured financing receivables$145 $(114)$31 $111 
Fair Value—We estimated the fair value of financing receivables to be approximately $62 million and $44 million at September 30, 2021 and December 31, 2020, respectively. The fair values, which are classified as Level Three in the fair value hierarchy, are estimated using discounted future cash flow models. The principal inputs used are projected future cash flows and the discount rate, which is generally the effective interest rate of the loan.
v3.21.2
ACQUISITIONS AND DISPOSITIONS
 9 Months Ended
Sep. 30, 2021
Business Combination and Asset Acquisition [Abstract]  
ACQUISITIONS AND DISPOSITIONS ACQUISITIONS AND DISPOSITIONS
Acquisitions
Land—During the three months ended September 30, 2021, we acquired $7 million of land through an asset acquisition from an unrelated third party to develop a hotel in Tempe, Arizona.
Alila Ventana Big Sur—During the nine months ended September 30, 2021, we completed an asset acquisition of Alila Ventana Big Sur for $146 million, net of closing costs and proration adjustments, which primarily consisted of $149 million of property and equipment. The seller is indirectly owned by a limited partnership affiliated with the brother of our Executive Chairman. The acquisition was identified as replacement property in a potential reverse like-kind exchange; however, we sold the property before a suitable replacement property was identified.
During the three months ended September 30, 2021, we sold the property to an unrelated third party for approximately $148 million, net of closing costs and proration adjustments, and accounted for the transaction as an asset disposition. Upon sale, we entered into a long-term management agreement for the property. The sale resulted in a $2 million pre-tax gain, which was recognized in gains on sales of real estate and other on our condensed consolidated statements of income (loss) during the three months ended September 30, 2021. The operating results and financial position of this hotel during our period of ownership remain within our owned and leased hotels segment.
Grand Hyatt São Paulo—We previously held a 50% interest in the entities that own Grand Hyatt São Paulo, and we accounted for the investment as an unconsolidated hospitality venture under the equity method. During the nine months ended September 30, 2021, we purchased the remaining 50% interest for $6 million of cash. Additionally, we repaid the $78 million third-party mortgage loan on the property, and we were released from our debt repayment guarantee (see Note 12). The transaction was accounted for as an asset acquisition, and we recognized a $69 million pre-tax gain related to the transaction in equity earnings (losses) from unconsolidated hospitality ventures on our condensed consolidated statements of income (loss). The pre-tax gain is primarily attributable to a $42 million reversal of other long-term liabilities associated with our equity method investment and a $22 million reclassification from accumulated other comprehensive loss (see Note 13).
Net assets acquired were determined as follows:
Cash paid$6 
Repayment of third-party mortgage loan78 
Fair value of our previously-held equity method investment6 
Net assets acquired$90 
Upon acquisition, we recorded $101 million of property and equipment and $11 million of deferred tax liabilities within our owned and leased hotels segment on our condensed consolidated balance sheet.
Dispositions
Hyatt Regency Lake Tahoe Resort, Spa and Casino—During the three months ended September 30, 2021, we sold Hyatt Regency Lake Tahoe Resort, Spa and Casino to an unrelated third party for approximately $343 million, net of closing costs and proration adjustments, and accounted for the transaction as an asset disposition. Upon sale, we entered into a long-term management agreement for the property. The sale resulted in a $305 million pre-tax gain, which was recognized in gains on sales of real estate and other on our condensed consolidated statements of income (loss) during the three months ended September 30, 2021. The operating results and financial position of this hotel prior to the sale remain within our owned and leased hotels segment.
Hyatt Regency Lost Pines Resort and Spa—During the nine months ended September 30, 2021, we sold Hyatt Regency Lost Pines Resort and Spa to an unrelated third party for approximately $268 million, net of closing costs and proration adjustments, and accounted for the transaction as an asset disposition. Upon sale, we entered into a long-term management agreement for the property. The sale resulted in a $104 million pre-tax gain, which was recognized in gains on sales of real estate and other on our condensed consolidated statements of income (loss) during the nine months ended September 30, 2021. The operating results and financial position of this hotel prior to the sale remain within our owned and leased hotels segment.
Hyatt Centric Center City Philadelphia—During the nine months ended September 30, 2020, an unrelated third party invested in certain of our subsidiaries that developed Hyatt Centric Center City Philadelphia and adjacent parking and retail space in exchange for a 58% ownership interest, resulting in the derecognition of the nonfinancial assets of the subsidiaries. As a result of the transaction, we received $72 million of proceeds, recorded our 42% ownership interest as an equity method investment, and recognized a $4 million pre-tax gain in gains on sales of real estate and other on our condensed consolidated statements of income (loss) during the nine months ended September 30, 2020. Our $22 million equity method investment was recorded at fair value based on the value contributed by our partner to the unconsolidated hospitality venture. As additional consideration, we received a $5 million investment in an equity security without a readily determinable fair value.
Building—During the nine months ended September 30, 2020, we sold a commercial building in Omaha, Nebraska for $6 million, net of closing costs and proration adjustments. In conjunction with the sale, we entered into a lease for a portion of the building and accounted for the transaction as a sale and leaseback and recorded a $4 million operating lease right-of-use asset and related lease liability on our condensed consolidated balance sheet. The sale resulted in a $4 million pre-tax gain, which was recognized in gains on sales of real estate and other on our condensed consolidated statements of income (loss) during the nine months ended September 30, 2020. At September 30, 2020, the operating lease had a weighted-average remaining term of 9 years and a weighted-average discount rate of 3.25%. The lease includes an option to extend the lease term by 5 years.
Like-Kind Exchange Agreements
Periodically, we enter into like-kind exchange agreements upon the disposition or acquisition of certain properties. Pursuant to the terms of these agreements, the proceeds from the sales are placed into an escrow account administered by a qualified intermediary and are unavailable for our use until released. The proceeds are recorded as restricted cash on our condensed consolidated balance sheets and released (i) if they are utilized as part of a like-kind exchange agreement, (ii) if we do not identify a suitable replacement property within 45 days after the agreement date, or (iii) when a like-kind exchange agreement is not completed within the remaining allowable time period.
v3.21.2
GOODWILL AND INTANGIBLES, NET
 9 Months Ended
Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND INTANGIBLES, NET GOODWILL AND INTANGIBLES, NET
At both September 30, 2021 and December 31, 2020, we had $288 million of goodwill on our condensed consolidated balance sheets. During the nine months ended September 30, 2020, we determined that the carrying values of two reporting units were in excess of the fair values, which were Level Three fair value measurements, and we recognized $38 million of goodwill impairment charges in asset impairments on our condensed consolidated statements of income (loss) within our owned and leased hotels segment.
September 30, 2021Weighted-
average useful
lives in years		December 31, 2020
Management and franchise agreement intangibles$349 18$354 
Brand and other indefinite-lived intangibles130 — 130 
Advanced booking intangibles6 36 
Other definite-lived intangibles8 68 
Intangibles493 498 
Less: accumulated amortization(130)(113)
Intangibles, net$363 $385 

 Three Months Ended September 30,Nine Months Ended September 30,
 2021202020212020
Amortization expense$6 $7 $20 $21 
v3.21.2
OTHER ASSETS
 9 Months Ended
Sep. 30, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
OTHER ASSETS OTHER ASSETS
September 30, 2021December 31, 2020
Marketable securities held to fund rabbi trusts (Note 4)$543 $511 
Management and franchise agreement assets constituting payments to customers (1) 538 470 
Marketable securities held to fund the loyalty program (Note 4)436 441 
Marketable securities held for captive insurance company (Note 4)140 114 
Common shares in Playa N.V. (Note 4)100 72 
Long-term investments (Note 4)74 93 
Other130 96 
Total other assets$1,961 $1,797 
(1) Includes cash consideration as well as other forms of consideration provided, such as debt repayment or performance guarantees.
v3.21.2
DEBT
 9 Months Ended
Sep. 30, 2021
Debt Disclosure [Abstract]  
DEBT DEBT
Long-term debt was $2,978 million and $2,984 million at September 30, 2021 and December 31, 2020, respectively.
Senior Notes—During the three months ended September 30, 2020, we issued $750 million of three-month LIBOR plus 3.000% senior notes due 2022 (the "2022 Notes") at par with interest payable quarterly on March 1, June 1, September 1, and December 1 of each year. We received approximately $745 million of net proceeds from the sale, after deducting $5 million of underwriting discounts and other offering expenses, which we used for general corporate purposes. At September 30, 2021, the 2022 Notes were classified as long-term on our condensed consolidated balance sheet as the debt was refinanced in October 2021 (see Note 19).
During the nine months ended September 30, 2020, we issued $450 million of 5.375% senior notes due 2025 (the "2025 Notes") and $450 million of 5.750% senior notes due 2030 (the "2030 Notes") at par. We received approximately $890 million of net proceeds from the sale, after deducting $10 million of underwriting discounts and other offering expenses. We used a portion of the proceeds from these issuances to repay all outstanding borrowings on our revolving credit facility and settle the outstanding interest rate locks, and the remainder was used for general corporate purposes. Interest is payable semi-annually on April 23 and October 23 of each year.
Debt Repayment—During the three months ended September 30, 2021, we repaid the outstanding $250 million of 5.375% senior notes due 2021 (the "2021 Notes") at maturity for approximately $257 million, inclusive of $7 million of accrued interest.
Revolving Credit Facility—During the three months ended September 30, 2021, we entered into a Fourth Amendment to Second Amended and Restated Credit Agreement (the "Fourth Revolver Amendment"). The Fourth Revolver Amendment, among other things, (i) modified the negative investments covenant to permit the acquisition of Apple Leisure Group ("ALG") (see Note 19), (ii) incorporated certain metrics consistent with ALG's covenants, (iii) amended certain negative covenants to permit certain existing transactions by ALG, and (iv) included a post-closing covenant requiring certain ALG entities to become guarantors under the revolving credit facility, subject to certain conditions. The effectiveness of the Fourth Revolver Amendment, including the amendments described herein, was subject in all respects to the substantially concurrent consummation of the acquisition of ALG.
During the nine months ended September 30, 2021, we entered into a Third Amendment to Second Amended and Restated Credit Agreement (the "Third Revolver Amendment"). The Third Revolver Amendment, among other things, (i) extended the current covenant relief period through January 1, 2022 (the "Covenant Relief Period"), (ii) added a new minimum fixed charge coverage ratio covenant applicable to the first quarter of 2022, and (iii) increased the maintenance level of the leverage ratio covenant for the second, third, fourth, and fifth quarters following the end of the Covenant Relief Period. The Third Revolver Amendment also included an option, at our election, to extend the maturity date of $1.45 billion of revolving credit commitments by one year on the terms specified in the Third Revolver Amendment. The terms of the Third Revolver Amendment restrict, among other things, our ability to repurchase shares and pay dividends until the first quarter of 2022.
The $1.5 billion aggregate commitment amount under our revolving credit facility remains unchanged under the Fourth Revolver Amendment and Third Revolver Amendment.
During the nine months ended September 30, 2021 and September 30, 2020, we had $0 and $400 million, respectively, of borrowings and repayments on our revolving credit facility. The weighted-average interest rate on these borrowings was 1.71% at September 30, 2020. At both September 30, 2021 and December 31, 2020, we had no balance outstanding. At September 30, 2021, we had $1.5 billion of borrowing capacity available under our revolving credit facility.
Fair Value—We estimate the fair value of debt, which consists of the 2022 Notes, 2025 Notes, 2030 Notes, and the notes below (collectively, the "Senior Notes"), bonds, and other long-term debt.
•$350 million of 3.375% senior notes due 2023 (the "2023 Notes")
•$400 million of 4.850% senior notes due 2026 (the "2026 Notes")
•$400 million of 4.375% senior notes due 2028 (the "2028 Notes")
Our Senior Notes and bonds are classified as Level Two due to the use and weighting of multiple market inputs in the final price of the security. We estimated the fair value of other debt instruments using a discounted cash flow analysis based on current market inputs for similar types of arrangements. Based on the lack of available market data, we have classified our revolving credit facility and other debt instruments as Level Three. The primary sensitivity in these models is based on the selection of appropriate discount rates. Fluctuations in our assumptions will result in different estimates of fair value.
September 30, 2021
Carrying valueFair valueQuoted prices in active markets for identical assets (Level One)Significant other observable inputs (Level Two)Significant unobservable inputs (Level Three)
Debt (1)$3,002 $3,252 $— $3,214 $38 
(1) Excludes $7 million of finance lease obligations and $21 million of unamortized discounts and deferred financing fees.
December 31, 2020
Carrying valueFair valueQuoted prices in active markets for identical assets (Level One)Significant other observable inputs (Level Two)Significant unobservable inputs (Level Three)
Debt (2)$3,261 $3,561 $— $3,518 $43 
(2) Excludes $9 million of finance lease obligations and $26 million of unamortized discounts and deferred financing fees.
Interest Rate Locks—During the three and nine months ended September 30, 2020, we recognized $0 and $37 million of pre-tax losses, respectively, in unrealized gains (losses) on derivative activity on our condensed consolidated statements of comprehensive income (loss) related to interest rate locks that were settled in April 2020. Upon settlement, we recorded a $61 million loss within accumulated other comprehensive loss. This loss is amortized into interest expense on our condensed consolidated statements of income (loss) over the term of the 2030 Notes. The $61 million settlement is included as a cash outflow from operating activities on our condensed consolidated statements of cash flows for the nine months ended September 30, 2020, as our policy is to classify cash flows from derivative instruments in the same category as the item being hedged.
v3.21.2
OTHER LONG-TERM LIABILITIES
 9 Months Ended
Sep. 30, 2021
Other Liabilities [Abstract]  
OTHER LONG-TERM LIABILITIES OTHER LONG-TERM LIABILITIES
September 30, 2021December 31, 2020
Deferred compensation plans funded by rabbi trusts (Note 4)$543 $511 
Income taxes payable174 166 
Guarantee liabilities (Note 12)89 31 
Deferred income taxes (Note 11)78 48 
Self-insurance liabilities (Note 12)64 67 
Other60 88 
Total other long-term liabilities$1,008 $911 
v3.21.2
INCOME TAXES
 9 Months Ended
Sep. 30, 2021
Income Tax Disclosure [Abstract]  
INCOME TAXES INCOME TAXES
The provision for income taxes for the three and nine months ended September 30, 2021 was $138 million and $339 million, respectively, compared to the benefit for income taxes of $59 million and $188 million for the three and nine months ended September 30, 2020, respectively. The changes in our benefit (provision) for income taxes for the three and nine months ended September 30, 2021, compared to the three and nine months ended September 30, 2020, were primarily attributable to the tax impact of the sale of Hyatt Regency Lake Tahoe Resort, Spa and Casino combined with the impact of recording a full valuation allowance on U.S. federal and state deferred tax assets in the first quarter of 2021 and the impact of unbenefited foreign losses.
During the year ended December 31, 2020, we generated significant pre-tax losses driven by the COVID-19 pandemic business disruption, and during the three months ended March 31, 2021, we entered into a three-year cumulative U.S. pre-tax loss position. Therefore, in the first quarter of 2021, we assessed the need for a valuation allowance against our deferred tax assets, considering both positive and negative evidence, including the cumulative three-year pre-tax loss position. We considered sources of positive evidence including recent favorable recovery trends in the hospitality industry and the indefinite carryforward period of any U.S. tax losses generated. Accounting Standards Codification 740, Income Taxes, prescribes that a recent cumulative pre-tax loss position is strong objectively verifiable negative evidence that is difficult to overcome and little or no weight is placed on future projections of pre-tax income, and therefore, our forecasts did not have an impact on our assessment. Based on the weight of all available evidence, we recorded a full valuation allowance against our U.S. federal and state deferred tax assets during the three months ended March 31, 2021. We continue to assess the valuation allowance on a quarterly basis, and at September 30, 2021, our valuation allowance was $176 million.
At January 1, 2021, we had no U.S. federal net operating loss carryforwards, as the net operating losses we generated in 2020 were carried back to prior years, as described below. To measure the valuation allowance, we estimated the years in which our deferred tax assets and liabilities would reverse using systematic and logical methods to determine reversal patterns. If we generate losses in future periods, additional valuation allowances may be required that could have an adverse impact on our net income (loss). Conversely, if pre-tax income returns to normalized levels, we expect to see these allowances reverse, which would result in an increase in reported net income. We will continue to reassess the realizability of our U.S. deferred tax asset balances in future periods.
During the nine months ended September 30, 2021, we filed a U.S. refund claim, which carried back the taxable loss generated in 2020 to 2015, 2016, and 2017 as allowed under the provision of the Coronavirus Aid, Relief, and Economic Security Act (the "CARES Act"). In July 2021, we received a $254 million refund from the Internal Revenue Service ("IRS"), which was included in prepaid income taxes on our condensed consolidated balance sheet at December 31, 2020.
We are subject to audits by federal, state, and foreign tax authorities. U.S. tax years 2009 through 2011 are before the U.S. Tax Court concerning the tax treatment of the loyalty program. We are currently under field exam by the IRS for tax years 2015 through 2017. During the nine months ended September 30, 2021, we received a Notice of Proposed Adjustment for those tax years related to the loyalty program issue currently in the U.S. Tax Court. As a result, U.S. tax years 2009 through 2017 are pending the outcome of the issue currently in U.S. Tax Court. If the IRS' position to include loyalty program contributions as taxable income to the Company is upheld, it would result in an income tax payment of $221 million (including $63 million of estimated interest, net of federal tax benefit) for all assessed years. We believe we have an adequate uncertain tax liability recorded in connection with this matter.
At September 30, 2021 and December 31, 2020, total unrecognized tax benefits recorded in other long-term liabilities on our condensed consolidated balance sheets were $150 million and $146 million, respectively, of which $146 million and $49 million, respectively, would impact the effective tax rate if recognized.
v3.21.2
COMMITMENTS AND CONTINGENCIES
 9 Months Ended
Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]  
COMMITMENTS AND CONTINGENCIES COMMITMENTS AND CONTINGENCIES
In the ordinary course of business, we enter into various commitments, guarantees, surety bonds, and letter of credit agreements.
Commitments—At September 30, 2021, we are committed, under certain conditions, to lend or provide certain consideration to, or invest in, various business ventures up to $332 million, net of any related letters of credit.
Performance Guarantees—Certain of our contractual agreements with third-party hotel owners require us to guarantee payments to the owners if specified levels of operating profit are not achieved by their hotels. At September 30, 2021, our performance guarantees have $93 million of remaining maximum exposure and expire between 2022 and 2036. Our most significant performance guarantee, related to four managed hotels in France, expired in April 2020.
At September 30, 2021 and December 31, 2020, we had $48 million and $16 million of total performance guarantee liabilities, respectively, which included $38 million and $6 million recorded in other long-term liabilities, respectively, on our condensed consolidated balance sheets. At both September 30, 2021 and December 31, 2020, we had $10 million recorded in accrued expenses and other current liabilities on our condensed consolidated balance sheets.
Four managed hotels in FranceOther performance guaranteesAll performance guarantees
202120202021202020212020
Beginning balance, January 1$— $20 $16 $13 $16 $33 
Initial guarantee obligation liability— — 34 — 34 — 
Amortization of initial guarantee obligation liability into income— (4)(1)(2)(1)(6)
Performance guarantee expense, net— 26 5 13 5 39 
Payments during the period— (15)(7)(11)(7)(26)
Foreign currency exchange, net— (1)— — — (1)
Ending balance, June 30$— $26 $47 $13 $47 $39 
Amortization of initial guarantee obligation liability into income— — (1)(1)(1)(1)
Performance guarantee expense— — 3 8 3 8 
Payments during the period— (7)(1)(7)(1)(14)
Foreign currency exchange, net— 1 — — — 1 
Ending balance, September 30$— $20 $48 $13 $48 $33 
Additionally, we enter into certain management contracts where we have the right, but not an obligation, to make payments to certain hotel owners if their hotels do not achieve specified levels of operating profit. If we choose not to fund the shortfall, the hotel owner has the option to terminate the management contract. At September 30, 2021 and December 31, 2020, we had $6 million and $3 million, respectively, recorded in accrued expenses and other current liabilities on our condensed consolidated balance sheets related to these performance cure payments.
Debt Repayment and Other Guarantees—We enter into various debt repayment and other guarantees in order to assist hotel owners and unconsolidated hospitality ventures in obtaining third-party financing or to obtain more favorable borrowing terms.
Property descriptionMaximum potential future paymentsMaximum exposure net of recoverability from third partiesOther long-term liabilities recorded at September 30, 2021Other long-term liabilities recorded at December 31, 2020Year of guarantee expiration
Hotel properties in India (1)
$197 $197 $36 $— 2024
Hotel properties in Tennessee (2), (3)
56 20 6 8 various, through 2024
Hotel properties in California (2)
38 15 — 2 various, through 2022
Hotel property in Pennsylvania (2), (4)
28 11 1 1 various, through 2023
Hotel property in Massachusetts (2), (4)
27 14 2 4 various, through 2022
Hotel properties in Georgia (2)
27 13 3 4 various, through 2024
Hotel property in Oregon (2)
21 8 1 1 2022
Other (2), (3)
21 7 2 5 various, through 2025
Total $415 $285 $51 $25 
(1) Debt repayment guarantees are denominated in Indian rupees and translated using exchange rates at September 30, 2021. We have the contractual right to recover amounts funded from an unconsolidated hospitality venture, which is a related party. We expect our maximum exposure to be approximately $100 million, taking into account our partner's 50% ownership interest in the unconsolidated hospitality venture. Under certain events or conditions, we have the right to force the sale of the properties in order to recover amounts funded.
(2) We have agreements with our unconsolidated hospitality venture partners, the respective hotel owners, or other third parties to recover certain amounts funded under the debt repayment guarantee; the recoverability mechanism may be in the form of cash or HTM debt security.
(3) If certain funding thresholds are met or if certain events occur, we have the ability to assume control of the property.
(4) We are subject to completion guarantees whereby the parties agree to substantially complete the construction of the project by a specified date. At September 30, 2021, the maximum potential exposure under the completion guarantees is insignificant.
At September 30, 2021, we are not aware, nor have we received any notification, that our unconsolidated hospitality ventures or hotel owners are not current on their debt service obligations where we have provided a debt repayment guarantee.
Guarantee Liabilities Fair Value—We estimated the fair value of our guarantees to be approximately $116 million and $66 million at September 30, 2021 and December 31, 2020, respectively. Based on the lack of available market data, we have classified our guarantees as Level Three in the fair value hierarchy.
Insurance—We obtain commercial insurance for potential losses for general liability, workers' compensation, automobile liability, employment practices, crime, property, cyber risk, and other miscellaneous coverages. A portion of the risk is retained on a self-insurance basis primarily through a U.S.-based and licensed captive insurance company that is a wholly owned subsidiary of Hyatt and generally insures our deductibles and retentions. Reserve requirements are established based on actuarial projections of ultimate losses. Reserves for losses in our captive insurance company to be paid within 12 months are $36 million and $37 million at September 30, 2021 and December 31, 2020, respectively, and are recorded in accrued expenses and other current liabilities on our condensed consolidated balance sheets. Reserves for losses in our captive insurance company to be paid in future periods are $64 million and $67 million at September 30, 2021 and December 31, 2020 and are recorded in other long-term liabilities on our condensed consolidated balance sheets.
Collective Bargaining Agreements—At September 30, 2021, approximately 23% of our U.S.-based employees were covered by various collective bargaining agreements, generally providing for basic pay rates, working hours, other conditions of employment, and orderly settlement of labor disputes. Certain employees are covered by union-sponsored, multi-employer pension and health plans pursuant to agreements between us and various unions. Generally, labor relations have been maintained in a normal and satisfactory manner, and we believe our employee relations are good.
Surety Bonds—Surety bonds issued on our behalf were $44 million at September 30, 2021 and primarily relate to workers' compensation, taxes, licenses, construction liens, and utilities related to our lodging operations.
Letters of Credit—Letters of credit outstanding on our behalf at September 30, 2021 were $272 million, which relate to our ongoing operations, hotel properties under development in the U.S., collateral for estimated insurance claims, and securitization of our performance under our debt repayment guarantees associated with the hotel properties in India, which are only called on if we default on our guarantees. The letters of credit outstanding do not reduce the available capacity under our revolving credit facility (see Note 9).
Capital Expenditures—As part of our ongoing business operations, expenditures are required to complete renovation projects that have been approved.
Other—We act as general partner of various partnerships owning hotel properties that are subject to mortgage indebtedness. These mortgage agreements generally limit the lender's recourse to security interests in assets financed and/or other assets of the partnership(s) and/or the general partner(s) thereof.
In conjunction with financing obtained for our unconsolidated hospitality ventures and certain managed hotels, we may provide standard indemnifications to the lender for loss, liability, or damage occurring as a result of our actions or actions of the other unconsolidated hospitality venture partners or respective hotel owners.
As a result of certain dispositions, we have agreed to provide customary indemnifications to third-party purchasers for certain liabilities incurred prior to sale and for breach of certain representations and warranties made during the sales process, such as representations of valid title, authority, and environmental issues that may not be limited by a contractual monetary amount. These indemnification agreements survive until the applicable statutes of limitation expire or until the agreed upon contract terms expire.
We are subject, from time to time, to various claims and contingencies related to lawsuits, taxes, and environmental matters, as well as commitments under contractual obligations. Many of these claims are covered under our current insurance programs, subject to deductibles. Although the ultimate liability for these matters cannot be determined at this point, based on information currently available, we do not expect the ultimate resolution of such claims and litigation to have a material effect on our condensed consolidated financial statements.
During the year ended December 31, 2018, we received a notice from the Indian tax authorities assessing additional service tax on our operations in India. We appealed this decision and do not believe a loss is probable, and therefore, we have not recorded a liability in connection with this matter. At September 30, 2021, our maximum exposure is not expected to exceed $18 million.
v3.21.2
EQUITY
 9 Months Ended
Sep. 30, 2021
Equity [Abstract]  
EQUITY EQUITY
Accumulated Other Comprehensive Loss
Balance at
July 1, 2021 		Current period other comprehensive income (loss) before reclassificationAmount reclassified from accumulated other comprehensive lossBalance at
September 30, 2021
Foreign currency translation adjustments$(174)$(24)$— $(198)
Unrealized gains (losses) on AFS debt securities— — — — 
Unrecognized pension cost(7)— — (7)
Unrealized gains (losses) on derivative instruments (1)(37)— 1 (36)
Accumulated other comprehensive loss$(218)$(24)$1 $(241)
(1) The amount reclassified from accumulated other comprehensive loss included realized losses recognized in interest expense, net of insignificant tax impacts, related to the settlement of interest rate locks (see Note 9).
Balance at
January 1, 2021		Current period other comprehensive income (loss) before reclassificationAmount reclassified from accumulated other comprehensive lossBalance at
September 30, 2021
Foreign currency translation adjustments (2)$(145)$(33)$(20)$(198)
Unrealized gains (losses) on AFS debt securities1 (1)— — 
Unrecognized pension cost(7)— — (7)
Unrealized gains (losses) on derivative instruments (3)(41)— 5 (36)
Accumulated other comprehensive loss$(192)$(34)$(15)$(241)
(2) The amount reclassified from accumulated other comprehensive loss related to the acquisition of the remaining interest in the entities which own Grand Hyatt São Paulo (see Note 6) and the disposition of our ownership interest in certain unconsolidated hospitality ventures.
(3) The amount reclassified from accumulated other comprehensive loss included realized losses recognized in interest expense, net of significant tax impacts, related to the settlement of interest rate locks (see Note 9). We expect to reclassify $7 million of losses over the next 12 months.
Balance at
July 1, 2020		Current period other comprehensive income (loss) before reclassificationAmount reclassified from accumulated other comprehensive lossBalance at
September 30, 2020
Foreign currency translation adjustments$(215)$15 $— $(200)
Unrealized gains (losses) on AFS debt securities1 — — 1 
Unrecognized pension cost(9)— — (9)
Unrealized gains (losses) on derivative instruments (4)(44)— 2 (42)
Accumulated other comprehensive loss$(267)$15 $2 $(250)
(4) The amount reclassified from accumulated other comprehensive loss included realized losses recognized in
interest expense, net of insignificant tax impacts, related to the settlement of interest rate locks (see Note 9).
Balance at
January 1, 2020 		Current period other comprehensive income (loss) before reclassificationAmount reclassified from accumulated other comprehensive lossBalance at
September 30, 2020
Foreign currency translation adjustments$(183)$(17)$— $(200)
Unrealized gains (losses) on AFS debt securities1 — — 1 
Unrecognized pension cost(9)— — (9)
Unrealized gains (losses) on derivative instruments (5)(18)(27)3 (42)
Accumulated other comprehensive loss$(209)$(44)$3 $(250)
(5) The amount reclassified from accumulated other comprehensive loss included realized losses recognized in
interest expense, net of insignificant tax impacts, related to the settlement of interest rate locks (see Note 9).
Common Stock Issuance—During the three months ended September 30, 2021, we completed an underwritten public offering of our Class A common stock at a price of $74.50 per share (the "common stock issuance"). We issued and sold 8,050,000 shares, including 1,050,000 shares issued in connection with the full exercise of the underwriters' over-allotment option.
We received $575 million of net proceeds from the common stock issuance, after deducting approximately $25 million of underwriting discounts and other offering expenses. We used the proceeds from the common stock issuance to fund a portion of the purchase of ALG (see Note 19).
Share Repurchase—During 2019 and 2018, our board of directors authorized the repurchase of up to $750 million and $750 million, respectively, of our common stock. These repurchases may be made from time to time in the open market, in privately negotiated transactions, or otherwise, including pursuant to a Rule 10b5-1 plan or an accelerated share repurchase transaction, at prices we deem appropriate and subject to our financial condition, capital requirements, market conditions, restrictions under the terms of our revolving credit facility, applicable law, and other factors deemed relevant in our sole discretion. The common stock repurchase program applies to our Class A and Class B common stock. The common stock repurchase program does not obligate us to repurchase any dollar amount or number of shares of common stock, and the program may be suspended or discontinued at any time.
During the nine months ended September 30, 2021, we did not repurchase common stock.
During the nine months ended September 30, 2020, we repurchased 827,643 shares of Class A common stock. The shares of common stock were repurchased at a weighted-average price of $84.08 per share for an aggregate purchase price of $69 million, excluding insignificant related expenses. The shares repurchased during the nine months ended September 30, 2020 represented approximately 1% of our total shares of common stock outstanding at December 31, 2019.
The shares of Class A common stock repurchased on the open market were retired and returned to the status of authorized and unissued shares. At September 30, 2021, we had $928 million remaining under the share repurchase authorization.
Dividend—During the nine months ended September 30, 2021, Hyatt did not declare or pay dividends to Class A or Class B shareholders of record. On February 13, 2020, our board of directors declared a cash dividend of $0.20 per share for the first quarter of 2020, which was paid on March 9, 2020 to Class A and Class B shareholders of record on February 26, 2020. For the nine months ended September 30, 2020, $7 million and $13 million of cash dividends were paid for Class A and Class B common stock, respectively.
v3.21.2
STOCK-BASED COMPENSATION
 9 Months Ended
Sep. 30, 2021
Share-based Payment Arrangement, Noncash Expense [Abstract]  
STOCK-BASED COMPENSATION STOCK-BASED COMPENSATION
As part of our Long-Term Incentive Plan ("LTIP"), we award time-vested stock appreciation rights ("SARs"), time-vested restricted stock units ("RSUs"), and performance-vested restricted stock units ("PSUs") to certain employees and non-employee directors. In addition, non-employee directors may elect to receive their annual fees and/or annual equity retainers in the form of shares of our Class A common stock. Compensation expense and unearned compensation presented below exclude amounts related to employees of our managed hotels and other employees whose payroll is reimbursed, as this expense has been and will continue to be reimbursed by our third-party hotel owners and is recognized within revenues for the reimbursement of costs incurred on behalf of managed and franchised properties and costs incurred on behalf of managed and franchised properties on our condensed consolidated statements of income (loss). Stock-based compensation expense recognized in selling, general, and administrative expenses on our condensed consolidated statements of income (loss) related to the LTIP awards was as follows:
Three Months Ended September 30,Nine Months Ended September 30,
2021202020212020
SARs$— $— $10 $10 
RSUs3 3 19 17 
PSUs 3 — 13 (7)
Total$6 $3 $42 $20 
The nine months ended September 30, 2020 included a reversal of previously recognized stock-based compensation expense based on our assessment at the time of the expected achievement relative to the applicable performance targets related to certain PSU awards.
SARs—During the nine months ended September 30, 2021, we granted 396,889 SARs to employees with a weighted-average grant date fair value of $28.68. During the nine months ended September 30, 2020, we granted 1,250,434 SARs to employees with a weighted-average grant date fair value of $8.88.
RSUs—During the nine months ended September 30, 2021, we granted 423,079 RSUs to employees and non-employee directors with a weighted-average grant date fair value of $80.12. During the nine months ended September 30, 2020, we granted 628,407 RSUs to employees with a weighted-average grant date fair value of $49.33.
PSUs—During the nine months ended September 30, 2021, we granted 153,256 PSUs to employees with a weighted-average grant date fair value of $82.02. During the nine months ended September 30, 2020, we did not grant any PSUs under our LTIP.
Our total unearned compensation for our stock-based compensation programs at September 30, 2021 was $2 million for SARs, $18 million for RSUs, and $17 million for PSUs, which will primarily be recognized in stock-based compensation expense over a weighted-average period of three years with respect to SARs and PSUs and two years with respect to RSUs.
v3.21.2
RELATED-PARTY TRANSACTIONS
 9 Months Ended
Sep. 30, 2021
Related Party Transactions [Abstract]  
RELATED-PARTY TRANSACTIONS RELATED-PARTY TRANSACTIONS
In addition to those included elsewhere in the Notes to our condensed consolidated financial statements, related-party transactions entered into by us are summarized as follows:
Legal Services—A partner in a law firm that provided services to us throughout the nine months ended September 30, 2021 and September 30, 2020 is the brother-in-law of our Executive Chairman. We incurred $5 million and $2 million of legal fees with this firm during the three months ended September 30, 2021 and September 30, 2020, respectively. We incurred $7 million of legal fees with this firm during each of the nine months ended September 30, 2021 and September 30, 2020. At September 30, 2021 and December 31, 2020, we had $5 million and insignificant amounts due to the law firm, respectively.
Equity Method Investments—We have equity method investments in entities that own, operate, manage, or franchise properties for which we receive management, franchise, or license fees. We recognized $3 million and $1 million of fees during the three months ended September 30, 2021 and September 30, 2020, respectively. During the nine months ended September 30, 2021 and September 30, 2020, we recognized $7 million and $5 million of fees, respectively. In addition, in some cases we provide loans (see Note 5) or guarantees (see Note 12) to these entities. At September 30, 2021 and December 31, 2020, we had $12 million and $15 million of receivables due from these properties, respectively. Our ownership interest in these unconsolidated hospitality ventures varies from 24% to 50%. See Note 4 for further details regarding these investments.
Class B Share Conversion—During the three and nine months ended September 30, 2021, 970,647 and 2,385,647 shares of Class B common stock, respectively, were converted on a share-for-share basis into shares of Class A common stock, $0.01 par value per share. During the three and nine months ended September 30, 2020, 331,083 and 2,766,326 shares of Class B common stock were converted on a share-for-share basis into shares of Class A common stock, $0.01 par value per share. The shares of Class B common stock that were converted into shares of Class A common stock have been retired, thereby reducing the shares of Class B common stock authorized and outstanding.
v3.21.2
SEGMENT INFORMATION
 9 Months Ended
Sep. 30, 2021
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
Our reportable segments are components of the business which are managed discretely and for which discrete financial information is reviewed regularly by the chief operating decision maker ("CODM") to assess performance and make decisions regarding the allocation of resources. Our CODM is our President and Chief Executive Officer. We define our reportable segments as follows:
•Owned and leased hotels—This segment derives its earnings from owned and leased hotel properties located predominantly in the United States but also in certain international locations, and for purposes of segment Adjusted EBITDA, includes our pro rata share of the Adjusted EBITDA of our unconsolidated hospitality ventures, based on our ownership percentage of each venture. Adjusted EBITDA includes intercompany expenses related to management fees paid to the Company's management and franchising segments, which are eliminated in consolidation. Intersegment revenues relate to promotional award redemptions earned by our owned and leased hotels related to our co-branded credit card program and are eliminated in consolidation.
•Americas management and franchising—This segment derives its earnings primarily from a combination of hotel management and licensing of our portfolio of brands to franchisees located in the United States, Latin America, Canada, and the Caribbean as well as revenues from residential management operations. This segment's revenues also include the reimbursement of costs incurred on behalf of managed and franchised properties. These reimbursed costs relate primarily to payroll at managed properties where the Company is the employer, as well as costs associated with sales, reservations, technology, and marketing services (collectively, "system-wide services") and the loyalty program operated on behalf of owners of managed and franchised properties. The intersegment revenues relate to management fees earned from the Company's owned and leased hotels and are eliminated in consolidation.
•ASPAC management and franchising—This segment derives its earnings primarily from a combination of hotel management and licensing of our portfolio of brands to franchisees located in Southeast Asia, Greater China, Australia, New Zealand, South Korea, Japan, and Micronesia. This segment's revenues also include the reimbursement of costs incurred on behalf of managed and franchised properties. These reimbursed costs relate primarily to system-wide services and the loyalty program operated on behalf of owners of managed and franchised properties.
•EAME/SW Asia management and franchising—This segment derives its earnings primarily from a combination of hotel management and licensing of our portfolio of brands to franchisees located in Europe, Africa, the Middle East, India, Central Asia, and Nepal. This segment's revenues also include the reimbursement of costs incurred on behalf of managed and franchised properties. These reimbursed costs relate primarily to system-wide services and the loyalty program operated on behalf of owners of managed and franchised properties. The intersegment revenues relate to management fees earned from the Company's owned and leased hotels and are eliminated in consolidation.
Our CODM evaluates performance based on owned and leased hotels revenues; management, franchise, and other fees revenues; and Adjusted EBITDA. Adjusted EBITDA, as we define it, is a non-GAAP measure. We define Adjusted EBITDA as net income (loss) attributable to Hyatt Hotels Corporation plus our pro rata share of unconsolidated owned and leased hospitality ventures' Adjusted EBITDA based on our ownership percentage of each owned and leased venture, adjusted to exclude interest expense; benefit (provision) for income taxes; depreciation and amortization; amortization of management and franchise agreement assets and performance cure payments, which constitute payments to customers ("Contra revenue"); revenues for the reimbursement of costs incurred on behalf of managed and franchised properties; costs incurred on behalf of managed and franchised properties that we intend to recover over the long term; equity earnings (losses) from unconsolidated hospitality ventures; stock-based compensation expense; gains (losses) on sales of real estate and other; asset impairments; and other income (loss), net.
The table below shows summarized consolidated financial information by segment. Included within corporate and other are results from our co-branded credit card program, the results of the Exhale spa and fitness business, which was sold during the year ended December 31, 2020, and unallocated corporate expenses.
Three Months Ended September 30,Nine Months Ended September 30,
2021202020212020
Owned and leased hotels
Owned and leased hotels revenues$268 $82 $569 $432 
Intersegment revenues (1)5 2 11 10 
Adjusted EBITDA51 (56)34 (100)
Depreciation and amortization58 63 175 182 
Americas management and franchising
Management, franchise, and other fees revenues85 29 189 121 
Contra revenue(5)(5)(14)(13)
Other revenues24 4 60 33 
Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties412 234 966 904 
Intersegment revenues (1)10 3 20 12 
Adjusted EBITDA74 16 156 81 
Depreciation and amortization5 5 16 15 
ASPAC management and franchising
Management, franchise, and other fees revenues16 17 51 42 
Contra revenue(1)— (3)(2)
Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties26 18 70 62 
Adjusted EBITDA6 9 21 15 
Depreciation and amortization— 1 2 3 
EAME/SW Asia management and franchising
Management, franchise, and other fees revenues12 5 25 17 
Contra revenue(3)(2)(9)(5)
Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties18 14 46 46 
Intersegment revenues (1)1 — 1 1 
Adjusted EBITDA5 (2)4 (12)
Depreciation and amortization— 1 — 1 
Corporate and other
Revenues14 7 33 25 
Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties— 1 — 3 
Intersegment revenues (1)(1)— (1)— 
Adjusted EBITDA(26)(15)(71)(65)
Depreciation and amortization8 10 26 32 
Eliminations
Revenues (1)(15)(5)(31)(23)
Adjusted EBITDA — — 1 2 
TOTAL
Revenues$851 $399 $1,952 $1,642 
Adjusted EBITDA110 (48)145 (79)
Depreciation and amortization71 80 219 233 
(1)Intersegment revenues are included in management, franchise, and other fees revenues, owned and leased hotels revenues, and other revenues and eliminated in Eliminations.
The table below provides a reconciliation of our net income (loss) attributable to Hyatt Hotels Corporation to EBITDA and a reconciliation of EBITDA to our consolidated Adjusted EBITDA:
Three Months Ended September 30,Nine Months Ended September 30,
2021202020212020
Net income (loss) attributable to Hyatt Hotels Corporation$120 $(161)$(193)$(500)
Interest expense40 35 123 87 
(Benefit) provision for income taxes138 (59)339 (188)
Depreciation and amortization71 80 219 233 
EBITDA369 (105)488 (368)
Contra revenue9 7 26 20 
Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties(456)(267)(1,082)(1,015)
Costs incurred on behalf of managed and franchised properties465 278 1,117 1,068 
Equity (earnings) losses from unconsolidated hospitality ventures12 20 (8)45 
Stock-based compensation expense (Note 14)
6 3 42 20 
Gains on sales of real estate and other (Note 6)
(307)— (412)(8)
Asset impairments— — 2 52 
Other (income) loss, net (Note 18)
3 19 (34)114 
Pro rata share of unconsolidated owned and leased hospitality ventures' Adjusted EBITDA9 (3)6 (7)
Adjusted EBITDA$110 $(48)$145 $(79)
v3.21.2
EARNINGS (LOSSES) PER SHARE
 9 Months Ended
Sep. 30, 2021
Earnings Per Share [Abstract]  
EARNINGS (LOSSES) PER SHARE EARNINGS (LOSSES) PER SHARE
The calculation of basic and diluted earnings (losses) per share, including a reconciliation of the numerator and denominator, is as follows:
Three Months Ended September 30,Nine Months Ended September 30,
2021202020212020
Numerator:
Net income (loss)$120 $(161)$(193)$(500)
Net income (loss) attributable to noncontrolling interests— — — — 
Net income (loss) attributable to Hyatt Hotels Corporation$120 $(161)$(193)$(500)
Denominator:
Basic weighted-average shares outstanding102,298,714 101,277,404 101,910,558 101,312,741 
Share-based compensation1,688,833 — — — 
Diluted weighted-average shares outstanding103,987,547 101,277,404 101,910,558 101,312,741 
Basic Earnings (Losses) Per Share:
Net income (loss)$1.17 $(1.59)$(1.89)$(4.93)
Net income (loss) attributable to noncontrolling interests— — — — 
Net income (loss) attributable to Hyatt Hotels Corporation$1.17 $(1.59)$(1.89)$(4.93)
Diluted Earnings (Losses) Per Share:
Net income (loss)$1.15 $(1.59)$(1.89)$(4.93)
Net income (loss) attributable to noncontrolling interests— — — — 
Net income (loss) attributable to Hyatt Hotels Corporation$1.15 $(1.59)$(1.89)$(4.93)
The computations of diluted net earnings (losses) per share for the three and nine months ended September 30, 2021 and September 30, 2020 do not include the following shares of Class A common stock assumed to be issued as stock-settled SARs and RSUs because they are anti-dilutive.
Three Months Ended September 30,Nine Months Ended September 30,
2021202020212020
SARs4,500 390,900 1,242,900 706,600 
RSUs3,400 540,200 562,800 499,200 
v3.21.2
OTHER INCOME (LOSS), NET
 9 Months Ended
Sep. 30, 2021
Other Income and Expenses [Abstract]  
OTHER INCOME (LOSS), NET OTHER INCOME (LOSS), NET
Three Months Ended September 30,Nine Months Ended September 30,
2021202020212020
Transaction costs$(19)$— $(19)$— 
Restructuring expenses(3)(22)(3)(69)
Performance guarantee expense (Note 12)(3)(8)(8)(47)
Credit losses (Note 4 and Note 5)(2)(8)(12)(26)
Foreign currency gains (losses), net— (1)7 (3)
Performance guarantee liability amortization (Note 12) 1 1 2 7 
Depreciation recovery 4 6 13 18 
Unrealized gains (losses), net (Note 4)7 8 20 (36)
Interest income 7 6 21 23 
Other, net5 (1)13 19 
Other income (loss), net$(3)$(19)$34 $(114)
During the three and nine months ended September 30, 2021, we recognized $19 million of transaction costs related to the acquisition of ALG (see Note 19).
During the three and nine months ended September 30, 2020, we recognized $22 million and $69 million, respectively, of restructuring expenses, including severance, insurance benefits, outplacement, and other related costs, due to operational changes as a result of the COVID-19 pandemic.
During the nine months ended September 30, 2020, as a result of existing economic conditions, in part due to the COVID-19 pandemic and the developer's inability to complete construction and meet its debt service, we recognized a $14 million credit loss related to a debt repayment guarantee for a residential property in Brazil.
v3.21.2
SUBSEQUENT EVENTS
 9 Months Ended
Sep. 30, 2021
Subsequent Events [Abstract]  
SUBSEQUENT EVENT SUBSEQUENT EVENTS
Acquisition—On August 14, 2021, we agreed to acquire 100% of the outstanding limited partnership interests in Casablanca Global Intermediate Holdings L.P., doing business as Apple Leisure Group, and 100% of the outstanding ordinary shares of Casablanca Global GP Limited, its general partner, a leading luxury resort management services, travel, and hospitality group (the "ALG acquisition"), pursuant to a definitive Securities Purchase Agreement (the "Purchase Agreement") for $2.7 billion of total consideration, subject to customary adjustments set forth in the Purchase Agreement related to working capital, cash, and indebtedness. The Purchase Agreement also provides for contingent consideration following the closing of the transaction upon the achievement, if ever, of certain targets related to ALG's outstanding travel credits. We closed on the transaction on November 1, 2021 and paid cash of $2.7 billion. The transaction was funded with a combination of cash on hand, $1 billion of proceeds from new debt described below, $575 million of proceeds from the common stock issuance (see Note 13), and $210 million of borrowings on the revolving credit facility. Given that the transaction recently closed, the preliminary purchase price allocation is in process and is incomplete as of this filing date.
Senior Notes Issuance—On October 1, 2021, we issued $700 million of 1.300% senior notes due 2023 at an issue price of 99.941% (the "2023 Fixed Rate Notes"), $300 million of floating rate senior notes due 2023 (the "2023 Floating Rate Notes") at par, and $750 million of 1.800% senior notes due 2024 at an issue price of 99.994% (the "2024 Fixed Rate Notes") (collectively, the "senior notes issuance"). We received approximately $1.7 billion of net proceeds, after deducting underwriting discounts and other offering expenses.
We used the net proceeds from the senior notes issuance to (i) fund a portion of the purchase price for the ALG acquisition, (ii) refinance the 2022 Notes as described below, and (iii) pay fees and expenses related to the senior notes issuance.
Debt Redemption—On October 15, 2021, utilizing the proceeds from the senior notes issuance, we redeemed the 2022 Notes for approximately $753 million, inclusive of $750 million of aggregate principal and $3 million of accrued interest outstanding.
v3.21.2
RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS (Policies)
 9 Months Ended
Sep. 30, 2021
Accounting Policies [Abstract]  
Basis of Accounting The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information, the instructions to Form 10-Q, and Article 10 of Regulation S-X. Accordingly, they do not include all information or footnotes required by GAAP for complete annual financial statements.
Principles of Consolidation We have eliminated all intercompany accounts and transactions in our condensed consolidated financial statements. We consolidate entities under our control, including entities where we are deemed to be the primary beneficiary.
Future Adoption of Accounting Standards RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS
Future Adoption of Accounting Standards
Reference Rate Reform—In March 2020, the Financial Accounting Standards Board issued Accounting Standards Update No. 2020-04 ("ASU 2020-04"), Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. ASU 2020-04 provides optional expedients and exceptions that we can elect to adopt, subject to meeting certain criteria, regarding contract modifications, hedging relationships, and other transactions that reference the London Inter-bank Offered Rate for deposits of U.S. dollars ("LIBOR") or another reference rate expected to be discontinued by June 30, 2023 because of reference rate reform. The provisions of ASU 2020-04 are available through December 31, 2022, and we are currently assessing the impact of adopting ASU 2020-04.
Revenue Allocated to Remaining Performance Obligations Revenue Allocated to Remaining Performance ObligationsRevenue allocated to remaining performance obligations represents contracted revenue that has not yet been recognized, which includes deferred revenue and amounts that will be invoiced and recognized as revenue in future periods.
Insurance Insurance—We obtain commercial insurance for potential losses for general liability, workers' compensation, automobile liability, employment practices, crime, property, cyber risk, and other miscellaneous coverages. A portion of the risk is retained on a self-insurance basis primarily through a U.S.-based and licensed captive insurance company that is a wholly owned subsidiary of Hyatt and generally insures our deductibles and retentions. Reserve requirements are established based on actuarial projections of ultimate losses.
Commitments and Contingencies Other
Other—We act as general partner of various partnerships owning hotel properties that are subject to mortgage indebtedness. These mortgage agreements generally limit the lender's recourse to security interests in assets financed and/or other assets of the partnership(s) and/or the general partner(s) thereof.
In conjunction with financing obtained for our unconsolidated hospitality ventures and certain managed hotels, we may provide standard indemnifications to the lender for loss, liability, or damage occurring as a result of our actions or actions of the other unconsolidated hospitality venture partners or respective hotel owners.
As a result of certain dispositions, we have agreed to provide customary indemnifications to third-party purchasers for certain liabilities incurred prior to sale and for breach of certain representations and warranties made during the sales process, such as representations of valid title, authority, and environmental issues that may not be limited by a contractual monetary amount. These indemnification agreements survive until the applicable statutes of limitation expire or until the agreed upon contract terms expire.
We are subject, from time to time, to various claims and contingencies related to lawsuits, taxes, and environmental matters, as well as commitments under contractual obligations. Many of these claims are covered under our current insurance programs, subject to deductibles. Although the ultimate liability for these matters cannot be determined at this point, based on information currently available, we do not expect the ultimate resolution of such claims and litigation to have a material effect on our condensed consolidated financial statements.
Segment Information SEGMENT INFORMATION
Our reportable segments are components of the business which are managed discretely and for which discrete financial information is reviewed regularly by the chief operating decision maker ("CODM") to assess performance and make decisions regarding the allocation of resources. Our CODM is our President and Chief Executive Officer. We define our reportable segments as follows:
•Owned and leased hotels—This segment derives its earnings from owned and leased hotel properties located predominantly in the United States but also in certain international locations, and for purposes of segment Adjusted EBITDA, includes our pro rata share of the Adjusted EBITDA of our unconsolidated hospitality ventures, based on our ownership percentage of each venture. Adjusted EBITDA includes intercompany expenses related to management fees paid to the Company's management and franchising segments, which are eliminated in consolidation. Intersegment revenues relate to promotional award redemptions earned by our owned and leased hotels related to our co-branded credit card program and are eliminated in consolidation.
•Americas management and franchising—This segment derives its earnings primarily from a combination of hotel management and licensing of our portfolio of brands to franchisees located in the United States, Latin America, Canada, and the Caribbean as well as revenues from residential management operations. This segment's revenues also include the reimbursement of costs incurred on behalf of managed and franchised properties. These reimbursed costs relate primarily to payroll at managed properties where the Company is the employer, as well as costs associated with sales, reservations, technology, and marketing services (collectively, "system-wide services") and the loyalty program operated on behalf of owners of managed and franchised properties. The intersegment revenues relate to management fees earned from the Company's owned and leased hotels and are eliminated in consolidation.
•ASPAC management and franchising—This segment derives its earnings primarily from a combination of hotel management and licensing of our portfolio of brands to franchisees located in Southeast Asia, Greater China, Australia, New Zealand, South Korea, Japan, and Micronesia. This segment's revenues also include the reimbursement of costs incurred on behalf of managed and franchised properties. These reimbursed costs relate primarily to system-wide services and the loyalty program operated on behalf of owners of managed and franchised properties.
•EAME/SW Asia management and franchising—This segment derives its earnings primarily from a combination of hotel management and licensing of our portfolio of brands to franchisees located in Europe, Africa, the Middle East, India, Central Asia, and Nepal. This segment's revenues also include the reimbursement of costs incurred on behalf of managed and franchised properties. These reimbursed costs relate primarily to system-wide services and the loyalty program operated on behalf of owners of managed and franchised properties. The intersegment revenues relate to management fees earned from the Company's owned and leased hotels and are eliminated in consolidation.
Our CODM evaluates performance based on owned and leased hotels revenues; management, franchise, and other fees revenues; and Adjusted EBITDA. Adjusted EBITDA, as we define it, is a non-GAAP measure. We define Adjusted EBITDA as net income (loss) attributable to Hyatt Hotels Corporation plus our pro rata share of unconsolidated owned and leased hospitality ventures' Adjusted EBITDA based on our ownership percentage of each owned and leased venture, adjusted to exclude interest expense; benefit (provision) for income taxes; depreciation and amortization; amortization of management and franchise agreement assets and performance cure payments, which constitute payments to customers ("Contra revenue"); revenues for the reimbursement of costs incurred on behalf of managed and franchised properties; costs incurred on behalf of managed and franchised properties that we intend to recover over the long term; equity earnings (losses) from unconsolidated hospitality ventures; stock-based compensation expense; gains (losses) on sales of real estate and other; asset impairments; and other income (loss), net.
v3.21.2
REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables)
 9 Months Ended
Sep. 30, 2021
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue
The following tables present our revenues disaggregated by the nature of the product or service:
Three Months Ended September 30, 2021
Owned and leased hotelsAmericas management and franchisingASPAC management and franchisingEAME/SW Asia management and franchisingCorporate and otherEliminationsTotal
Rooms revenues$167 $— $— $— $— $(5)$162 
Food and beverage64 — — — — — 64 
Other 37 — — — — — 37 
Owned and leased hotels268 — — — — (5)263 
Base management fees— 41 10 7 — (8)50 
Incentive management fees— 6 4 3 — (3)10 
Franchise fees— 35 — 1 — — 36 
Other fees— 3 2 1 11 — 17 
Management, franchise, and other fees— 85 16 12 11 (11)113 
Contra revenue— (5)(1)(3)— — (9)
Net management, franchise, and other fees— 80 15 9 11 (11)104 
Other revenues— 24 — — 3 1 28 
Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties— 412 26 18 — — 456 
Total$268 $516 $41 $27 $14 $(15)$851 
Nine Months Ended September 30, 2021
Owned and leased hotelsAmericas management and franchisingASPAC management and franchisingEAME/SW Asia management and franchisingCorporate and otherEliminationsTotal
Rooms revenues$346 $— $— $— $— $(11)$335 
Food and beverage127 — — — — — 127 
Other96 — — — — — 96 
Owned and leased hotels569 — — — — (11)558 
Base management fees— 87 27 13 — (17)110 
Incentive management fees— 11 15 8 — (4)30 
Franchise fees— 80 1 1 — — 82 
Other fees— 11 8 3 25 — 47 
Management, franchise, and other fees— 189 51 25 25 (21)269 
Contra revenue— (14)(3)(9)— — (26)
Net management, franchise, and other fees— 175 48 16 25 (21)243 
Other revenues— 60 — — 8 1 69 
Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties— 966 70 46 — — 1,082 
Total$569 $1,201 $118 $62 $33 $(31)$1,952 
Three Months Ended September 30, 2020
Owned and leased hotelsAmericas management and franchisingASPAC management and franchisingEAME/SW Asia management and franchisingCorporate and otherEliminationsTotal
Rooms revenues$43 $— $— $— $— $(2)$41 
Food and beverage 20 — — — — — 20 
Other 19 — — — — — 19 
Owned and leased hotels82 — — — — (2)80 
Base management fees— 12 7 2 — (2)19 
Incentive management fees— — 5 2 — (1)6 
Franchise fees— 15 — — — — 15 
Other fees— 2 5 1 4 — 12 
Management, franchise, and other fees— 29 17 5 4 (3)52 
Contra revenue— (5)— (2)— — (7)
Net management, franchise, and other fees— 24 17 3 4 (3)45 
Other revenues— 4 — — 3 — 7 
Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties— 234 18 14 1 — 267 
Total$82 $262 $35 $17 $8 $(5)$399 
Nine Months Ended September 30, 2020
Owned and leased hotels Americas management and franchising ASPAC management and franchisingEAME/SW Asia management and franchisingCorporate and otherEliminations Total
Rooms revenues$236 $— $— $— $— $(10)$226 
Food and beverage128 — — — — — 128 
Other68 — — — — — 68 
Owned and leased hotels432 — — — — (10)422 
Base management fees— 60 16 10 — (12)74 
Incentive management fees— 1 8 4 — (1)12 
Franchise fees— 47 1 — — — 48 
Other fees— 13 17 3 13 — 46 
Management, franchise, and other fees— 121 42 17 13 (13)180 
Contra revenue— (13)(2)(5)— — (20)
Net management, franchise, and other fees— 108 40 12 13 (13)160 
Other revenues— 33 — — 12 — 45 
Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties— 904 62 46 3 — 1,015 
Total$432 $1,045 $102 $58 $28 $(23)$1,642 
Summary of Contract Liability
Contract liabilities were comprised of the following:
September 30, 2021December 31, 2020
Deferred revenue related to the loyalty program$792 $733 
Advanced deposits59 44 
Initial fees received from franchise owners42 41 
Deferred revenue related to insurance programs4 47 
Other deferred revenue75 76 
Total contract liabilities$972 $941 
The following table summarizes the activity in our contract liabilities:
20212020
Beginning balance, January 1$941 $920 
Cash received and other238 311 
Revenue recognized(201)(336)
Ending balance, June 30$978 $895 
Cash received and other152 114 
Revenue recognized(158)(120)
Ending balance, September 30$972 $889 
v3.21.2
DEBT AND EQUITY SECURITIES (Tables)
 9 Months Ended
Sep. 30, 2021
Investments, Debt and Equity Securities [Abstract]  
Summarized Financial Information
The following table presents summarized financial information for all unconsolidated hospitality ventures in which we hold an investment accounted for under the equity method:
 Three Months Ended September 30,Nine Months Ended September 30,
 2021202020212020
Total revenues$89 $27 $171 $211 
Gross operating profit (loss)36 (11)31 34 
Loss from continuing operations(5)(57)(91)(143)
Net loss(5)(57)(91)(143)
Marketable Securities Held to Fund Operating Programs
Marketable Securities Held to Fund Operating Programs—Marketable securities held to fund operating programs, which are recorded at fair value on our condensed consolidated balance sheets, were as follows:
September 30, 2021December 31, 2020
Loyalty program (Note 8)
$584 $567 
Deferred compensation plans held in rabbi trusts (Note 8 and Note 10)
543 511 
Captive insurance company (Note 8)
184 226 
Total marketable securities held to fund operating programs$1,311 $1,304 
Less: current portion of marketable securities held to fund operating programs included in cash and cash equivalents and short-term investments(192)(238)
Marketable securities held to fund operating programs included in other assets$1,119 $1,066 
Net Gains and Interest Income from Marketable Securities Held to Fund Operating Programs Net unrealized and realized gains (losses) from marketable securities held to fund operating programs recognized on our condensed consolidated financial statements were as follows:
Three Months Ended September 30,Nine Months Ended September 30,
2021202020212020
Unrealized gains (losses), net
Net gains (losses) and interest income from marketable securities held to fund rabbi trusts$(4)$16 $19 $11 
Other income (loss), net (Note 18)(3)1 (8)15 
Other comprehensive loss (Note 13)— — (1)— 
Realized gains, net
Net gains (losses) and interest income from marketable securities held to fund rabbi trusts$3 $6 $16 $12 
Other income (loss), net (Note 18)1 1 1 5 
Marketable Securities Held for Investment Purposes Marketable securities held for investment purposes, which are recorded at cost or fair value, depending on the nature of the investment, on our condensed consolidated balance sheets, were as follows:
September 30, 2021December 31, 2020
Interest-bearing money market funds (1)$1,114 $107 
Time deposits495 657 
Common shares in Playa N.V. (Note 8)
100 72 
Total marketable securities held for investment purposes$1,709 $836 
Less: current portion of marketable securities held for investment purposes included in cash and cash equivalents and short-term investments(1,609)(764)
Marketable securities held for investment purposes included in other assets$100 $72 
(1) Proceeds from our common stock issuance and asset dispositions were reinvested in interest-bearing money market funds at September 30, 2021 (see Note 6 and Note 13).
Unrealized Gain (Loss) on Investments Net unrealized gains (losses) recognized on our condensed consolidated statements of income (loss) were as follows:
Three Months Ended September 30,Nine Months Ended September 30,
2021202020212020
Other income (loss), net (Note 18)$10 $7 $28 $(51)
Assets and Liabilities Measured at Fair Value on a Recurring Basis We measure marketable securities held to fund operating programs and held for investment purposes at fair value on a recurring basis:
September 30, 2021Cash and cash equivalentsShort-term investmentsOther assets
Level One - Quoted Prices in Active Markets for Identical Assets
Interest-bearing money market funds$1,299 $1,299 $— $— 
Mutual funds631 — — 631 
Common shares in Playa N.V.100 — — 100 
Level Two - Significant Other Observable Inputs
Time deposits500 145 352 3 
U.S. government obligations230 — — 230 
U.S. government agencies60 — — 60 
Corporate debt securities138 — 5 133 
Mortgage-backed securities25 — — 25 
Asset-backed securities29 — — 29 
Municipal and provincial notes and bonds8 — — 8 
Total$3,020 $1,444 $357 $1,219 
December 31, 2020Cash and cash equivalentsShort-term investmentsOther assets
Level One - Quoted Prices in Active Markets for Identical Assets
Interest-bearing money market funds$327 $327 $— $— 
Mutual funds581 — — 581 
Common shares in Playa N.V.72 — — 72 
Level Two - Significant Other Observable Inputs
Time deposits662 — 659 3 
U.S. government obligations208 — 3 205 
U.S. government agencies65 — — 65 
Corporate debt securities159 — 13 146 
Mortgage-backed securities24 — — 24 
Asset-backed securities35 — — 35 
Municipal and provincial notes and bonds7 — — 7 
Total$2,140 $327 $675 $1,138 
Debt Securities, Held-to-maturity At September 30, 2021 and December 31, 2020, HTM debt securities recorded within prepaids and other assets and other assets on our condensed consolidated balance sheets were as follows:
September 30, 2021December 31, 2020
HTM debt securities$100 $102 
Less: allowance for credit losses(31)(21)
Total HTM debt securities, net of allowances$69 $81 
Debt Securities, Held-to-maturity, Allowance for Credit Loss
The following table summarizes the activity in our HTM debt securities allowance for credit losses:
20212020
Allowance at January 1$21 $12 
Credit losses (1)8 4 
Allowance at June 30$29 $16 
Credit losses (1)2 4 
Allowance at September 30$31 $20 
(1) Credit losses were partially or fully offset by interest income recognized in the same periods (see Note 18).
v3.21.2
RECEIVABLES (Tables)
 9 Months Ended
Sep. 30, 2021
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]  
Accounts Receivable, Allowance for Credit Loss
The following table summarizes the activity in our receivables allowance:
20212020
Allowance at January 1$56 $34 
Provisions5 14 
Other (3)(10)
Allowance at June 30$58 $38 
Provisions1 7 
Other(1)1 
Allowance at September 30$58 $46 
Financing Receivables
Financing Receivables
September 30, 2021December 31, 2020
Unsecured financing to hotel owners$96 $145 
Less: current portion of financing receivables, included in receivables, net(8)(2)
Less: allowance for credit losses(57)(114)
Total long-term financing receivables, net of allowances$31 $29 
Allowance for Losses and Impairments The following table summarizes the activity in our unsecured financing receivables allowance:
20212020
Allowance at January 1$114 $100 
Provisions6 5 
Allowance at June 30$120 $105 
   Write offs (1)(60)— 
   Provisions— 5 
   Foreign currency exchange, net(3)— 
Allowance at September 30$57 $110 
(1) The amount written off relates to a financing arrangement with a hotel owner, which was legally waived during the three months ended September 30, 2021.
Credit Monitoring Our unsecured financing receivables were as follows:
September 30, 2021
 Gross loan balance (principal and interest)Related allowanceNet financing receivablesGross receivables on nonaccrual status
Loans$92 $(54)$38 $46 
Other financing arrangements4 (3)1 — 
Total unsecured financing receivables$96 $(57)$39 $46 
December 31, 2020
 Gross loan balance (principal and interest)Related allowanceNet financing receivablesGross receivables on nonaccrual status
Loans$83 $(54)$29 $53 
Other financing arrangements62 (60)2 58 
Total unsecured financing receivables$145 $(114)$31 $111 
v3.21.2
ACQUISITIONS AND DISPOSITIONS (Tables)
 9 Months Ended
Sep. 30, 2021
Business Combination and Asset Acquisition [Abstract]  
Schedule Of Asset Acquisition
Net assets acquired were determined as follows:
Cash paid$6 
Repayment of third-party mortgage loan78 
Fair value of our previously-held equity method investment6 
Net assets acquired$90 
v3.21.2
GOODWILL AND INTANGIBLES, NET (Tables)
 9 Months Ended
Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Finite-Lived Intangible Assets
September 30, 2021Weighted-
average useful
lives in years		December 31, 2020
Management and franchise agreement intangibles$349 18$354 
Brand and other indefinite-lived intangibles130 — 130 
Advanced booking intangibles6 36 
Other definite-lived intangibles8 68 
Intangibles493 498 
Less: accumulated amortization(130)(113)
Intangibles, net$363 $385 
Schedule of Indefinite-Lived Intangible Assets
September 30, 2021Weighted-
average useful
lives in years		December 31, 2020
Management and franchise agreement intangibles$349 18$354 
Brand and other indefinite-lived intangibles130 — 130 
Advanced booking intangibles6 36 
Other definite-lived intangibles8 68 
Intangibles493 498 
Less: accumulated amortization(130)(113)
Intangibles, net$363 $385 
Schedule of Intangible Assets Amortization Expense
 Three Months Ended September 30,Nine Months Ended September 30,
 2021202020212020
Amortization expense$6 $7 $20 $21 
v3.21.2
OTHER ASSETS (Tables)
 9 Months Ended
Sep. 30, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Schedule of Other Assets
September 30, 2021December 31, 2020
Marketable securities held to fund rabbi trusts (Note 4)$543 $511 
Management and franchise agreement assets constituting payments to customers (1) 538 470 
Marketable securities held to fund the loyalty program (Note 4)436 441 
Marketable securities held for captive insurance company (Note 4)140 114 
Common shares in Playa N.V. (Note 4)100 72 
Long-term investments (Note 4)74 93 
Other130 96 
Total other assets$1,961 $1,797 
(1) Includes cash consideration as well as other forms of consideration provided, such as debt repayment or performance guarantees.
v3.21.2
DEBT (Tables)
 9 Months Ended
Sep. 30, 2021
Debt Disclosure [Abstract]  
Fair Value, by Balance Sheet Grouping
September 30, 2021
Carrying valueFair valueQuoted prices in active markets for identical assets (Level One)Significant other observable inputs (Level Two)Significant unobservable inputs (Level Three)
Debt (1)$3,002 $3,252 $— $3,214 $38 
(1) Excludes $7 million of finance lease obligations and $21 million of unamortized discounts and deferred financing fees.
December 31, 2020
Carrying valueFair valueQuoted prices in active markets for identical assets (Level One)Significant other observable inputs (Level Two)Significant unobservable inputs (Level Three)
Debt (2)$3,261 $3,561 $— $3,518 $43 
(2) Excludes $9 million of finance lease obligations and $26 million of unamortized discounts and deferred financing fees.
v3.21.2
OTHER LONG-TERM LIABILITIES (Tables)
 9 Months Ended
Sep. 30, 2021
Other Liabilities [Abstract]  
Other Long-term Liabilities
September 30, 2021December 31, 2020
Deferred compensation plans funded by rabbi trusts (Note 4)$543 $511 
Income taxes payable174 166 
Guarantee liabilities (Note 12)89 31 
Deferred income taxes (Note 11)78 48 
Self-insurance liabilities (Note 12)64 67 
Other60 88 
Total other long-term liabilities$1,008 $911 
v3.21.2
COMMITMENTS AND CONTINGENCIES (Tables)
 9 Months Ended
Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Guarantor Obligations
Four managed hotels in FranceOther performance guaranteesAll performance guarantees
202120202021202020212020
Beginning balance, January 1$— $20 $16 $13 $16 $33 
Initial guarantee obligation liability— — 34 — 34 — 
Amortization of initial guarantee obligation liability into income— (4)(1)(2)(1)(6)
Performance guarantee expense, net— 26 5 13 5 39 
Payments during the period— (15)(7)(11)(7)(26)
Foreign currency exchange, net— (1)— — — (1)
Ending balance, June 30$— $26 $47 $13 $47 $39 
Amortization of initial guarantee obligation liability into income— — (1)(1)(1)(1)
Performance guarantee expense— — 3 8 3 8 
Payments during the period— (7)(1)(7)(1)(14)
Foreign currency exchange, net— 1 — — — 1 
Ending balance, September 30$— $20 $48 $13 $48 $33 
Debt Repayment and Other Guarantees
Debt Repayment and Other Guarantees—We enter into various debt repayment and other guarantees in order to assist hotel owners and unconsolidated hospitality ventures in obtaining third-party financing or to obtain more favorable borrowing terms.
Property descriptionMaximum potential future paymentsMaximum exposure net of recoverability from third partiesOther long-term liabilities recorded at September 30, 2021Other long-term liabilities recorded at December 31, 2020Year of guarantee expiration
Hotel properties in India (1)
$197 $197 $36 $— 2024
Hotel properties in Tennessee (2), (3)
56 20 6 8 various, through 2024
Hotel properties in California (2)
38 15 — 2 various, through 2022
Hotel property in Pennsylvania (2), (4)
28 11 1 1 various, through 2023
Hotel property in Massachusetts (2), (4)
27 14 2 4 various, through 2022
Hotel properties in Georgia (2)
27 13 3 4 various, through 2024
Hotel property in Oregon (2)
21 8 1 1 2022
Other (2), (3)
21 7 2 5 various, through 2025
Total $415 $285 $51 $25 
(1) Debt repayment guarantees are denominated in Indian rupees and translated using exchange rates at September 30, 2021. We have the contractual right to recover amounts funded from an unconsolidated hospitality venture, which is a related party. We expect our maximum exposure to be approximately $100 million, taking into account our partner's 50% ownership interest in the unconsolidated hospitality venture. Under certain events or conditions, we have the right to force the sale of the properties in order to recover amounts funded.
(2) We have agreements with our unconsolidated hospitality venture partners, the respective hotel owners, or other third parties to recover certain amounts funded under the debt repayment guarantee; the recoverability mechanism may be in the form of cash or HTM debt security.
(3) If certain funding thresholds are met or if certain events occur, we have the ability to assume control of the property.
(4) We are subject to completion guarantees whereby the parties agree to substantially complete the construction of the project by a specified date. At September 30, 2021, the maximum potential exposure under the completion guarantees is insignificant.
v3.21.2
EQUITY (Tables)
 9 Months Ended
Sep. 30, 2021
Equity [Abstract]  
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Loss
Balance at
July 1, 2021 		Current period other comprehensive income (loss) before reclassificationAmount reclassified from accumulated other comprehensive lossBalance at
September 30, 2021
Foreign currency translation adjustments$(174)$(24)$— $(198)
Unrealized gains (losses) on AFS debt securities— — — — 
Unrecognized pension cost(7)— — (7)
Unrealized gains (losses) on derivative instruments (1)(37)— 1 (36)
Accumulated other comprehensive loss$(218)$(24)$1 $(241)
(1) The amount reclassified from accumulated other comprehensive loss included realized losses recognized in interest expense, net of insignificant tax impacts, related to the settlement of interest rate locks (see Note 9).
Balance at
January 1, 2021		Current period other comprehensive income (loss) before reclassificationAmount reclassified from accumulated other comprehensive lossBalance at
September 30, 2021
Foreign currency translation adjustments (2)$(145)$(33)$(20)$(198)
Unrealized gains (losses) on AFS debt securities1 (1)— — 
Unrecognized pension cost(7)— — (7)
Unrealized gains (losses) on derivative instruments (3)(41)— 5 (36)
Accumulated other comprehensive loss$(192)$(34)$(15)$(241)
(2) The amount reclassified from accumulated other comprehensive loss related to the acquisition of the remaining interest in the entities which own Grand Hyatt São Paulo (see Note 6) and the disposition of our ownership interest in certain unconsolidated hospitality ventures.
(3) The amount reclassified from accumulated other comprehensive loss included realized losses recognized in interest expense, net of significant tax impacts, related to the settlement of interest rate locks (see Note 9). We expect to reclassify $7 million of losses over the next 12 months.
Balance at
July 1, 2020		Current period other comprehensive income (loss) before reclassificationAmount reclassified from accumulated other comprehensive lossBalance at
September 30, 2020
Foreign currency translation adjustments$(215)$15 $— $(200)
Unrealized gains (losses) on AFS debt securities1 — — 1 
Unrecognized pension cost(9)— — (9)
Unrealized gains (losses) on derivative instruments (4)(44)— 2 (42)
Accumulated other comprehensive loss$(267)$15 $2 $(250)
(4) The amount reclassified from accumulated other comprehensive loss included realized losses recognized in
interest expense, net of insignificant tax impacts, related to the settlement of interest rate locks (see Note 9).
Balance at
January 1, 2020 		Current period other comprehensive income (loss) before reclassificationAmount reclassified from accumulated other comprehensive lossBalance at
September 30, 2020
Foreign currency translation adjustments$(183)$(17)$— $(200)
Unrealized gains (losses) on AFS debt securities1 — — 1 
Unrecognized pension cost(9)— — (9)
Unrealized gains (losses) on derivative instruments (5)(18)(27)3 (42)
Accumulated other comprehensive loss$(209)$(44)$3 $(250)
(5) The amount reclassified from accumulated other comprehensive loss included realized losses recognized in
interest expense, net of insignificant tax impacts, related to the settlement of interest rate locks (see Note 9).
v3.21.2
STOCK-BASED COMPENSATION (Tables)
 9 Months Ended
Sep. 30, 2021
Share-based Payment Arrangement, Noncash Expense [Abstract]  
Compensation Expense Related to Long-Term Incentive Plan Stock-based compensation expense recognized in selling, general, and administrative expenses on our condensed consolidated statements of income (loss) related to the LTIP awards was as follows:
Three Months Ended September 30,Nine Months Ended September 30,
2021202020212020
SARs$— $— $10 $10 
RSUs3 3 19 17 
PSUs 3 — 13 (7)
Total$6 $3 $42 $20 
v3.21.2
SEGMENT INFORMATION (Tables)
 9 Months Ended
Sep. 30, 2021
Segment Reporting [Abstract]  
Summarized Consolidated Financial Information by Segment
The table below shows summarized consolidated financial information by segment. Included within corporate and other are results from our co-branded credit card program, the results of the Exhale spa and fitness business, which was sold during the year ended December 31, 2020, and unallocated corporate expenses.
Three Months Ended September 30,Nine Months Ended September 30,
2021202020212020
Owned and leased hotels
Owned and leased hotels revenues$268 $82 $569 $432 
Intersegment revenues (1)5 2 11 10 
Adjusted EBITDA51 (56)34 (100)
Depreciation and amortization58 63 175 182 
Americas management and franchising
Management, franchise, and other fees revenues85 29 189 121 
Contra revenue(5)(5)(14)(13)
Other revenues24 4 60 33 
Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties412 234 966 904 
Intersegment revenues (1)10 3 20 12 
Adjusted EBITDA74 16 156 81 
Depreciation and amortization5 5 16 15 
ASPAC management and franchising
Management, franchise, and other fees revenues16 17 51 42 
Contra revenue(1)— (3)(2)
Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties26 18 70 62 
Adjusted EBITDA6 9 21 15 
Depreciation and amortization— 1 2 3 
EAME/SW Asia management and franchising
Management, franchise, and other fees revenues12 5 25 17 
Contra revenue(3)(2)(9)(5)
Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties18 14 46 46 
Intersegment revenues (1)1 — 1 1 
Adjusted EBITDA5 (2)4 (12)
Depreciation and amortization— 1 — 1 
Corporate and other
Revenues14 7 33 25 
Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties— 1 — 3 
Intersegment revenues (1)(1)— (1)— 
Adjusted EBITDA(26)(15)(71)(65)
Depreciation and amortization8 10 26 32 
Eliminations
Revenues (1)(15)(5)(31)(23)
Adjusted EBITDA — — 1 2 
TOTAL
Revenues$851 $399 $1,952 $1,642 
Adjusted EBITDA110 (48)145 (79)
Depreciation and amortization71 80 219 233 
(1)Intersegment revenues are included in management, franchise, and other fees revenues, owned and leased hotels revenues, and other revenues and eliminated in Eliminations.
Reconciliation of Consolidated Adjusted EBITDA to EBITDA and a Reconciliation of EBITDA to Net Income Attributable to Hyatt Hotels Corporation
The table below provides a reconciliation of our net income (loss) attributable to Hyatt Hotels Corporation to EBITDA and a reconciliation of EBITDA to our consolidated Adjusted EBITDA:
Three Months Ended September 30,Nine Months Ended September 30,
2021202020212020
Net income (loss) attributable to Hyatt Hotels Corporation$120 $(161)$(193)$(500)
Interest expense40 35 123 87 
(Benefit) provision for income taxes138 (59)339 (188)
Depreciation and amortization71 80 219 233 
EBITDA369 (105)488 (368)
Contra revenue9 7 26 20 
Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties(456)(267)(1,082)(1,015)
Costs incurred on behalf of managed and franchised properties465 278 1,117 1,068 
Equity (earnings) losses from unconsolidated hospitality ventures12 20 (8)45 
Stock-based compensation expense (Note 14)
6 3 42 20 
Gains on sales of real estate and other (Note 6)
(307)— (412)(8)
Asset impairments— — 2 52 
Other (income) loss, net (Note 18)
3 19 (34)114 
Pro rata share of unconsolidated owned and leased hospitality ventures' Adjusted EBITDA9 (3)6 (7)
Adjusted EBITDA$110 $(48)$145 $(79)
v3.21.2
EARNINGS (LOSSES) PER SHARE (Tables)
 9 Months Ended
Sep. 30, 2021
Earnings Per Share [Abstract]  
Schedule of the Calculation of Basic and Diluted Losses Per Share
The calculation of basic and diluted earnings (losses) per share, including a reconciliation of the numerator and denominator, is as follows:
Three Months Ended September 30,Nine Months Ended September 30,
2021202020212020
Numerator:
Net income (loss)$120 $(161)$(193)$(500)
Net income (loss) attributable to noncontrolling interests— — — — 
Net income (loss) attributable to Hyatt Hotels Corporation$120 $(161)$(193)$(500)
Denominator:
Basic weighted-average shares outstanding102,298,714 101,277,404 101,910,558 101,312,741 
Share-based compensation1,688,833 — — — 
Diluted weighted-average shares outstanding103,987,547 101,277,404 101,910,558 101,312,741 
Basic Earnings (Losses) Per Share:
Net income (loss)$1.17 $(1.59)$(1.89)$(4.93)
Net income (loss) attributable to noncontrolling interests— — — — 
Net income (loss) attributable to Hyatt Hotels Corporation$1.17 $(1.59)$(1.89)$(4.93)
Diluted Earnings (Losses) Per Share:
Net income (loss)$1.15 $(1.59)$(1.89)$(4.93)
Net income (loss) attributable to noncontrolling interests— — — — 
Net income (loss) attributable to Hyatt Hotels Corporation$1.15 $(1.59)$(1.89)$(4.93)
Schedule of Antidilutive Securities Excluded from Computation of Losses Per Share
The computations of diluted net earnings (losses) per share for the three and nine months ended September 30, 2021 and September 30, 2020 do not include the following shares of Class A common stock assumed to be issued as stock-settled SARs and RSUs because they are anti-dilutive.
Three Months Ended September 30,Nine Months Ended September 30,
2021202020212020
SARs4,500 390,900 1,242,900 706,600 
RSUs3,400 540,200 562,800 499,200 
v3.21.2
OTHER INCOME (LOSS), NET (Tables)
 9 Months Ended
Sep. 30, 2021
Other Income and Expenses [Abstract]  
Other Income (Loss), Net
Three Months Ended September 30,Nine Months Ended September 30,
2021202020212020
Transaction costs$(19)$— $(19)$— 
Restructuring expenses(3)(22)(3)(69)
Performance guarantee expense (Note 12)(3)(8)(8)(47)
Credit losses (Note 4 and Note 5)(2)(8)(12)(26)
Foreign currency gains (losses), net— (1)7 (3)
Performance guarantee liability amortization (Note 12) 1 1 2 7 
Depreciation recovery 4 6 13 18 
Unrealized gains (losses), net (Note 4)7 8 20 (36)
Interest income 7 6 21 23 
Other, net5 (1)13 19 
Other income (loss), net$(3)$(19)$34 $(114)
v3.21.2
ORGANIZATION (Details)
Sep. 30, 2021
room
hotel
country
Organization  
Number of countries in which entity operates | country 69
Full service  
Organization  
Number of hotels operated or franchised 505
Number of rooms operated or franchised | room 169,567
Select service  
Organization  
Number of hotels operated or franchised 523
Number of rooms operated or franchised | room 75,312
Select service | United States  
Organization  
Number of hotels operated or franchised 438
All inclusive  
Organization  
Number of hotels operated or franchised 9
Number of rooms operated or franchised | room 3,591
v3.21.2
REVENUE FROM CONTRACTS WITH CUSTOMERS- Schedule of Disaggregation of Revenue (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Disaggregation of Revenue [Line Items]        
Revenues $ 851 $ 399 $ 1,952 $ 1,642
Owned and leased hotels        
Disaggregation of Revenue [Line Items]        
Revenues 263 80 558 422
Rooms revenues        
Disaggregation of Revenue [Line Items]        
Revenues 162 41 335 226
Food and beverage        
Disaggregation of Revenue [Line Items]        
Revenues 64 20 127 128
Other        
Disaggregation of Revenue [Line Items]        
Revenues 37 19 96 68
Net management, franchise, and other fees        
Disaggregation of Revenue [Line Items]        
Revenues 104 45 243 160
Management, franchise, and other fees        
Disaggregation of Revenue [Line Items]        
Revenues 113 52 269 180
Base management fees        
Disaggregation of Revenue [Line Items]        
Revenues 50 19 110 74
Incentive management fees        
Disaggregation of Revenue [Line Items]        
Revenues 10 6 30 12
Franchise fees        
Disaggregation of Revenue [Line Items]        
Revenues 36 15 82 48
Other fees        
Disaggregation of Revenue [Line Items]        
Revenues 17 12 47 46
Contra revenue        
Disaggregation of Revenue [Line Items]        
Revenues (9) (7) (26) (20)
Other revenues        
Disaggregation of Revenue [Line Items]        
Revenues 28 7 69 45
Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties        
Disaggregation of Revenue [Line Items]        
Revenues 456 267 1,082 1,015
Operating segments | Owned and leased hotels        
Disaggregation of Revenue [Line Items]        
Revenues 268 82 569 432
Operating segments | Owned and leased hotels | Owned and leased hotels        
Disaggregation of Revenue [Line Items]        
Revenues 268 82 569 432
Operating segments | Owned and leased hotels | Rooms revenues        
Disaggregation of Revenue [Line Items]        
Revenues 167 43 346 236
Operating segments | Owned and leased hotels | Food and beverage        
Disaggregation of Revenue [Line Items]        
Revenues 64 20 127 128
Operating segments | Owned and leased hotels | Other        
Disaggregation of Revenue [Line Items]        
Revenues 37 19 96 68
Operating segments | Owned and leased hotels | Net management, franchise, and other fees        
Disaggregation of Revenue [Line Items]        
Revenues 0 0 0 0
Operating segments | Owned and leased hotels | Management, franchise, and other fees        
Disaggregation of Revenue [Line Items]        
Revenues 0 0 0 0
Operating segments | Owned and leased hotels | Base management fees        
Disaggregation of Revenue [Line Items]        
Revenues 0 0 0 0
Operating segments | Owned and leased hotels | Incentive management fees        
Disaggregation of Revenue [Line Items]        
Revenues 0 0 0 0
Operating segments | Owned and leased hotels | Franchise fees        
Disaggregation of Revenue [Line Items]        
Revenues 0 0 0 0
Operating segments | Owned and leased hotels | Other fees        
Disaggregation of Revenue [Line Items]        
Revenues 0 0 0 0
Operating segments | Owned and leased hotels | Contra revenue        
Disaggregation of Revenue [Line Items]        
Revenues 0 0 0 0
Operating segments | Owned and leased hotels | Other revenues        
Disaggregation of Revenue [Line Items]        
Revenues 0 0 0 0
Operating segments | Owned and leased hotels | Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties        
Disaggregation of Revenue [Line Items]        
Revenues 0 0 0 0
Operating segments | Americas management and franchising        
Disaggregation of Revenue [Line Items]        
Revenues 516 262 1,201 1,045
Operating segments | Americas management and franchising | Owned and leased hotels        
Disaggregation of Revenue [Line Items]        
Revenues 0 0 0 0
Operating segments | Americas management and franchising | Rooms revenues        
Disaggregation of Revenue [Line Items]        
Revenues 0 0 0 0
Operating segments | Americas management and franchising | Food and beverage        
Disaggregation of Revenue [Line Items]        
Revenues 0 0 0 0
Operating segments | Americas management and franchising | Other        
Disaggregation of Revenue [Line Items]        
Revenues 0 0 0 0
Operating segments | Americas management and franchising | Net management, franchise, and other fees        
Disaggregation of Revenue [Line Items]        
Revenues 80 24 175 108
Operating segments | Americas management and franchising | Management, franchise, and other fees        
Disaggregation of Revenue [Line Items]        
Revenues 85 29 189 121
Operating segments | Americas management and franchising | Base management fees        
Disaggregation of Revenue [Line Items]        
Revenues 41 12 87 60
Operating segments | Americas management and franchising | Incentive management fees        
Disaggregation of Revenue [Line Items]        
Revenues 6 0 11 1
Operating segments | Americas management and franchising | Franchise fees        
Disaggregation of Revenue [Line Items]        
Revenues 35 15 80 47
Operating segments | Americas management and franchising | Other fees        
Disaggregation of Revenue [Line Items]        
Revenues 3 2 11 13
Operating segments | Americas management and franchising | Contra revenue        
Disaggregation of Revenue [Line Items]        
Revenues (5) (5) (14) (13)
Operating segments | Americas management and franchising | Other revenues        
Disaggregation of Revenue [Line Items]        
Revenues 24 4 60 33
Operating segments | Americas management and franchising | Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties        
Disaggregation of Revenue [Line Items]        
Revenues 412 234 966 904
Operating segments | ASPAC management and franchising        
Disaggregation of Revenue [Line Items]        
Revenues 41 35 118 102
Operating segments | ASPAC management and franchising | Owned and leased hotels        
Disaggregation of Revenue [Line Items]        
Revenues 0 0 0 0
Operating segments | ASPAC management and franchising | Rooms revenues        
Disaggregation of Revenue [Line Items]        
Revenues 0 0 0 0
Operating segments | ASPAC management and franchising | Food and beverage        
Disaggregation of Revenue [Line Items]        
Revenues 0 0 0 0
Operating segments | ASPAC management and franchising | Other        
Disaggregation of Revenue [Line Items]        
Revenues 0 0 0 0
Operating segments | ASPAC management and franchising | Net management, franchise, and other fees        
Disaggregation of Revenue [Line Items]        
Revenues 15 17 48 40
Operating segments | ASPAC management and franchising | Management, franchise, and other fees        
Disaggregation of Revenue [Line Items]        
Revenues 16 17 51 42
Operating segments | ASPAC management and franchising | Base management fees        
Disaggregation of Revenue [Line Items]        
Revenues 10 7 27 16
Operating segments | ASPAC management and franchising | Incentive management fees        
Disaggregation of Revenue [Line Items]        
Revenues 4 5 15 8
Operating segments | ASPAC management and franchising | Franchise fees        
Disaggregation of Revenue [Line Items]        
Revenues 0 0 1 1
Operating segments | ASPAC management and franchising | Other fees        
Disaggregation of Revenue [Line Items]        
Revenues 2 5 8 17
Operating segments | ASPAC management and franchising | Contra revenue        
Disaggregation of Revenue [Line Items]        
Revenues (1) 0 (3) (2)
Operating segments | ASPAC management and franchising | Other revenues        
Disaggregation of Revenue [Line Items]        
Revenues 0 0 0 0
Operating segments | ASPAC management and franchising | Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties        
Disaggregation of Revenue [Line Items]        
Revenues 26 18 70 62
Operating segments | EAME/SW Asia management and franchising        
Disaggregation of Revenue [Line Items]        
Revenues 27 17 62 58
Operating segments | EAME/SW Asia management and franchising | Owned and leased hotels        
Disaggregation of Revenue [Line Items]        
Revenues 0 0 0 0
Operating segments | EAME/SW Asia management and franchising | Rooms revenues        
Disaggregation of Revenue [Line Items]        
Revenues 0 0 0 0
Operating segments | EAME/SW Asia management and franchising | Food and beverage        
Disaggregation of Revenue [Line Items]        
Revenues 0 0 0 0
Operating segments | EAME/SW Asia management and franchising | Other        
Disaggregation of Revenue [Line Items]        
Revenues 0 0 0 0
Operating segments | EAME/SW Asia management and franchising | Net management, franchise, and other fees        
Disaggregation of Revenue [Line Items]        
Revenues 9 3 16 12
Operating segments | EAME/SW Asia management and franchising | Management, franchise, and other fees        
Disaggregation of Revenue [Line Items]        
Revenues 12 5 25 17
Operating segments | EAME/SW Asia management and franchising | Base management fees        
Disaggregation of Revenue [Line Items]        
Revenues 7 2 13 10
Operating segments | EAME/SW Asia management and franchising | Incentive management fees        
Disaggregation of Revenue [Line Items]        
Revenues 3 2 8 4
Operating segments | EAME/SW Asia management and franchising | Franchise fees        
Disaggregation of Revenue [Line Items]        
Revenues 1 0 1 0
Operating segments | EAME/SW Asia management and franchising | Other fees        
Disaggregation of Revenue [Line Items]        
Revenues 1 1 3 3
Operating segments | EAME/SW Asia management and franchising | Contra revenue        
Disaggregation of Revenue [Line Items]        
Revenues (3) (2) (9) (5)
Operating segments | EAME/SW Asia management and franchising | Other revenues        
Disaggregation of Revenue [Line Items]        
Revenues 0 0 0 0
Operating segments | EAME/SW Asia management and franchising | Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties        
Disaggregation of Revenue [Line Items]        
Revenues 18 14 46 46
Corporate and other        
Disaggregation of Revenue [Line Items]        
Revenues 14 8 33 28
Corporate and other | Owned and leased hotels        
Disaggregation of Revenue [Line Items]        
Revenues 0 0 0 0
Corporate and other | Rooms revenues        
Disaggregation of Revenue [Line Items]        
Revenues 0 0 0 0
Corporate and other | Food and beverage        
Disaggregation of Revenue [Line Items]        
Revenues 0 0 0 0
Corporate and other | Other        
Disaggregation of Revenue [Line Items]        
Revenues 0 0 0 0
Corporate and other | Net management, franchise, and other fees        
Disaggregation of Revenue [Line Items]        
Revenues 11 4 25 13
Corporate and other | Management, franchise, and other fees        
Disaggregation of Revenue [Line Items]        
Revenues 11 4 25 13
Corporate and other | Base management fees        
Disaggregation of Revenue [Line Items]        
Revenues 0 0 0 0
Corporate and other | Incentive management fees        
Disaggregation of Revenue [Line Items]        
Revenues 0 0 0 0
Corporate and other | Franchise fees        
Disaggregation of Revenue [Line Items]        
Revenues 0 0 0 0
Corporate and other | Other fees        
Disaggregation of Revenue [Line Items]        
Revenues 11 4 25 13
Corporate and other | Contra revenue        
Disaggregation of Revenue [Line Items]        
Revenues 0 0 0 0
Corporate and other | Other revenues        
Disaggregation of Revenue [Line Items]        
Revenues 3 3 8 12
Corporate and other | Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties        
Disaggregation of Revenue [Line Items]        
Revenues 0 1 0 3
Intersegment Eliminations        
Disaggregation of Revenue [Line Items]        
Revenues (15) (5) (31) (23)
Intersegment Eliminations | Owned and leased hotels        
Disaggregation of Revenue [Line Items]        
Revenues (5) (2) (11) (10)
Intersegment Eliminations | Rooms revenues        
Disaggregation of Revenue [Line Items]        
Revenues (5) (2) (11) (10)
Intersegment Eliminations | Food and beverage        
Disaggregation of Revenue [Line Items]        
Revenues 0 0 0 0
Intersegment Eliminations | Other        
Disaggregation of Revenue [Line Items]        
Revenues 0 0 0 0
Intersegment Eliminations | Net management, franchise, and other fees        
Disaggregation of Revenue [Line Items]        
Revenues (11) (3) (21) (13)
Intersegment Eliminations | Management, franchise, and other fees        
Disaggregation of Revenue [Line Items]        
Revenues (11) (3) (21) (13)
Intersegment Eliminations | Base management fees        
Disaggregation of Revenue [Line Items]        
Revenues (8) (2) (17) (12)
Intersegment Eliminations | Incentive management fees        
Disaggregation of Revenue [Line Items]        
Revenues (3) (1) (4) (1)
Intersegment Eliminations | Franchise fees        
Disaggregation of Revenue [Line Items]        
Revenues 0 0 0 0
Intersegment Eliminations | Other fees        
Disaggregation of Revenue [Line Items]        
Revenues 0 0 0 0
Intersegment Eliminations | Contra revenue        
Disaggregation of Revenue [Line Items]        
Revenues 0 0 0 0
Intersegment Eliminations | Other revenues        
Disaggregation of Revenue [Line Items]        
Revenues 1 0 1 0
Intersegment Eliminations | Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties        
Disaggregation of Revenue [Line Items]        
Revenues 0 0 0 0
Intersegment Eliminations | Owned and leased hotels        
Disaggregation of Revenue [Line Items]        
Revenues (5) (2) (11) (10)
Intersegment Eliminations | Americas management and franchising        
Disaggregation of Revenue [Line Items]        
Revenues (10) (3) (20) (12)
Intersegment Eliminations | EAME/SW Asia management and franchising        
Disaggregation of Revenue [Line Items]        
Revenues $ (1) $ 0 $ (1) $ (1)
v3.21.2
REVENUE FROM CONTRACTS WITH CUSTOMERS - Contract Liability Balances (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Jun. 30, 2021
Dec. 31, 2020
Jun. 30, 2020
Dec. 31, 2019
Disaggregation of Revenue [Line Items]                
Total contract liabilities $ 972 $ 889 $ 972 $ 889 $ 978 $ 941 $ 895 $ 920
Revenue recognized, including opening balance 83 $ 57 230 $ 215        
Deferred revenue related to the loyalty program                
Disaggregation of Revenue [Line Items]                
Total contract liabilities 792   792     733    
Advanced deposits                
Disaggregation of Revenue [Line Items]                
Total contract liabilities 59   59     44    
Initial fees received from franchise owners                
Disaggregation of Revenue [Line Items]                
Total contract liabilities 42   42     41    
Deferred revenue related to insurance programs                
Disaggregation of Revenue [Line Items]                
Total contract liabilities 4   4     47    
Other deferred revenue                
Disaggregation of Revenue [Line Items]                
Total contract liabilities $ 75   $ 75     $ 76    
v3.21.2
REVENUE FROM CONTRACTS WITH CUSTOMERS- Activity in Contract Liability Balances (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Increase (Decrease) in Contract with Customer, Liability [Roll Forward]        
Contract liabilities, beginning balance $ 978 $ 895 $ 941 $ 920
Cash received and other 152 114 238 311
Revenue recognized (158) (120) (201) (336)
Contract liabilities, ending balance $ 972 $ 889 $ 978 $ 895
v3.21.2
REVENUE FROM CONTRACTS WITH CUSTOMERS- Remaining Performance Obligation (Details)
$ in Millions
Sep. 30, 2021
USD ($)
Revenue from Contract with Customer [Abstract]  
Remaining performance obligation $ 110
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-10-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation, percent recognized 15.00%
Remaining performance obligation, period 12 months
v3.21.2
DEBT AND EQUITY SECURITIES - Narrative (Details) - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2021
Dec. 31, 2020
Schedule of Debt and Equity Method Investments    
Equity method investments $ 249 $ 260
Held-to-maturity securities, fair value 98 100
Equity securities without a readily determinable fair value 12 12
Owned and leased hotels    
Schedule of Debt and Equity Method Investments    
Equity method investment, net sales proceeds 17  
Grand Hyatt Sao Paulo    
Schedule of Debt and Equity Method Investments    
Cash acquired 6  
Repayment of third-party mortgage loan 78  
Gain on asset acquisition 69  
Loyalty Program    
Schedule of Debt and Equity Method Investments    
Available-for-sale debt securities 128 82
Captive Insurance Company    
Schedule of Debt and Equity Method Investments    
Equity securities $ 88 $ 70
v3.21.2
DEBT AND EQUITY SECURITIES - Summarized Financial Information (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Schedule of Debt and Equity Method Investments        
Net income (loss) $ 120 $ (161) $ (193) $ (500)
Equity Method Investment, Nonconsolidated Investee or Group of Investees        
Schedule of Debt and Equity Method Investments        
Total revenues 89 27 171 211
Gross operating profit (loss) 36 (11) 31 34
Loss from continuing operations (5) (57) (91) (143)
Net income (loss) $ (5) $ (57) $ (91) $ (143)
v3.21.2
DEBT AND EQUITY SECURITIES - Held to Fund Operating Programs (Details) - USD ($)
$ in Millions
Sep. 30, 2021
Dec. 31, 2020
Held for operating programs    
Schedule of Investments    
Total marketable securities held to fund operating programs $ 1,311 $ 1,304
Less: current portion of marketable securities held to fund operating programs included in cash and cash equivalents and short-term investments (192) (238)
Marketable securities held to fund operating programs included in other assets 1,119 1,066
Loyalty program (Note 8)    
Schedule of Investments    
Total marketable securities held to fund operating programs 584 567
Deferred compensation plans held in rabbi trusts (Note 8 and Note 10)    
Schedule of Investments    
Total marketable securities held to fund operating programs 543 511
Captive insurance company (Note 8)    
Schedule of Investments    
Total marketable securities held to fund operating programs $ 184 $ 226
v3.21.2
DEBT AND EQUITY SECURITIES - Gain (loss) on Investments Held to Fund Operating Programs (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Unrealized gains (losses), net        
Net gains (losses) and interest income from marketable securities held to fund rabbi trusts $ (4) $ 16 $ 19 $ 11
Other income (loss), net (3) 1 (8) 15
Other comprehensive loss (Note 13) 0 0 (1) 0
Realized gains, net        
Net gains (losses) and interest income from marketable securities held to fund rabbi trusts 3 6 16 12
Other income (loss), net $ 1 $ 1 $ 1 $ 5
v3.21.2
DEBT AND EQUITY SECURITIES - Held for Investment Purposes (Details) - USD ($)
$ in Millions
Sep. 30, 2021
Dec. 31, 2020
Schedule of Investments    
Common shares in Playa N.V. (Note 8) $ 100 $ 72
Held for Investment Purposes    
Schedule of Investments    
Interest-bearing money market funds 1,114 107
Time deposits 495 657
Common shares in Playa N.V. (Note 8) 100 72
Total marketable securities held to fund operating programs 1,709 836
Less: current portion of marketable securities held for investment purposes included in cash and cash equivalents and short-term investments (1,609) (764)
Marketable securities held for investment purposes included in other assets $ 100 $ 72
v3.21.2
DEBT AND EQUITY SECURITIES - Common Shares of Playa N.V (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Playa Hotels & Resorts N.V.        
Schedule of Investments        
Other income (loss), net (Note 18) $ 10 $ 7 $ 28 $ (51)
v3.21.2
DEBT AND EQUITY SECURITIES - Fair Value of Investments (Details) - USD ($)
$ in Millions
Sep. 30, 2021
Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Investments, fair value disclosure $ 3,020 $ 2,140
Level One - Quoted Prices in Active Markets for Identical Assets | Interest-bearing money market funds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash equivalents 1,299 327
Level One - Quoted Prices in Active Markets for Identical Assets | Mutual funds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash equivalents 631 581
Level One - Quoted Prices in Active Markets for Identical Assets | Common shares in Playa N.V.    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash equivalents 100 72
Level Two - Significant Other Observable Inputs | Time deposits    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Available-for-sale debt securities 500 662
Level Two - Significant Other Observable Inputs | U.S. government obligations    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Available-for-sale debt securities 230 208
Level Two - Significant Other Observable Inputs | U.S. government agencies    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Available-for-sale debt securities 60 65
Level Two - Significant Other Observable Inputs | Corporate debt securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Available-for-sale debt securities 138 159
Level Two - Significant Other Observable Inputs | Mortgage-backed securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Available-for-sale debt securities 25 24
Level Two - Significant Other Observable Inputs | Asset-backed securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Available-for-sale debt securities 29 35
Level Two - Significant Other Observable Inputs | Municipal and provincial notes and bonds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Available-for-sale debt securities 8 7
Cash and cash equivalents    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Investments, fair value disclosure 1,444 327
Cash and cash equivalents | Level One - Quoted Prices in Active Markets for Identical Assets | Interest-bearing money market funds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash equivalents 1,299 327
Cash and cash equivalents | Level One - Quoted Prices in Active Markets for Identical Assets | Mutual funds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash equivalents 0 0
Cash and cash equivalents | Level One - Quoted Prices in Active Markets for Identical Assets | Common shares in Playa N.V.    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash equivalents 0 0
Cash and cash equivalents | Level Two - Significant Other Observable Inputs | Time deposits    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Available-for-sale debt securities 145 0
Cash and cash equivalents | Level Two - Significant Other Observable Inputs | U.S. government obligations    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Available-for-sale debt securities 0 0
Cash and cash equivalents | Level Two - Significant Other Observable Inputs | U.S. government agencies    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Available-for-sale debt securities 0 0
Cash and cash equivalents | Level Two - Significant Other Observable Inputs | Corporate debt securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Available-for-sale debt securities 0 0
Cash and cash equivalents | Level Two - Significant Other Observable Inputs | Mortgage-backed securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Available-for-sale debt securities 0 0
Cash and cash equivalents | Level Two - Significant Other Observable Inputs | Asset-backed securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Available-for-sale debt securities 0 0
Cash and cash equivalents | Level Two - Significant Other Observable Inputs | Municipal and provincial notes and bonds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Available-for-sale debt securities 0 0
Short-term investments    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Investments, fair value disclosure 357 675
Short-term investments | Level One - Quoted Prices in Active Markets for Identical Assets | Interest-bearing money market funds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash equivalents 0 0
Short-term investments | Level One - Quoted Prices in Active Markets for Identical Assets | Mutual funds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash equivalents 0 0
Short-term investments | Level One - Quoted Prices in Active Markets for Identical Assets | Common shares in Playa N.V.    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash equivalents 0 0
Short-term investments | Level Two - Significant Other Observable Inputs | Time deposits    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Available-for-sale debt securities 352 659
Short-term investments | Level Two - Significant Other Observable Inputs | U.S. government obligations    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Available-for-sale debt securities 0 3
Short-term investments | Level Two - Significant Other Observable Inputs | U.S. government agencies    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Available-for-sale debt securities 0 0
Short-term investments | Level Two - Significant Other Observable Inputs | Corporate debt securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Available-for-sale debt securities 5 13
Short-term investments | Level Two - Significant Other Observable Inputs | Mortgage-backed securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Available-for-sale debt securities 0 0
Short-term investments | Level Two - Significant Other Observable Inputs | Asset-backed securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Available-for-sale debt securities 0 0
Short-term investments | Level Two - Significant Other Observable Inputs | Municipal and provincial notes and bonds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Available-for-sale debt securities 0 0
Other assets    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Investments, fair value disclosure 1,219 1,138
Other assets | Level One - Quoted Prices in Active Markets for Identical Assets | Interest-bearing money market funds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash equivalents 0 0
Other assets | Level One - Quoted Prices in Active Markets for Identical Assets | Mutual funds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash equivalents 631 581
Other assets | Level One - Quoted Prices in Active Markets for Identical Assets | Common shares in Playa N.V.    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash equivalents 100 72
Other assets | Level Two - Significant Other Observable Inputs | Time deposits    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Available-for-sale debt securities 3 3
Other assets | Level Two - Significant Other Observable Inputs | U.S. government obligations    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Available-for-sale debt securities 230 205
Other assets | Level Two - Significant Other Observable Inputs | U.S. government agencies    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Available-for-sale debt securities 60 65
Other assets | Level Two - Significant Other Observable Inputs | Corporate debt securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Available-for-sale debt securities 133 146
Other assets | Level Two - Significant Other Observable Inputs | Mortgage-backed securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Available-for-sale debt securities 25 24
Other assets | Level Two - Significant Other Observable Inputs | Asset-backed securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Available-for-sale debt securities 29 35
Other assets | Level Two - Significant Other Observable Inputs | Municipal and provincial notes and bonds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Available-for-sale debt securities $ 8 $ 7
v3.21.2
DEBT AND EQUITY SECURITIES - Schedule of Debt and Equity Securities HTM (Details) - USD ($)
$ in Millions
Sep. 30, 2021
Jun. 30, 2021
Dec. 31, 2020
Sep. 30, 2020
Jun. 30, 2020
Dec. 31, 2019
Investments, Debt and Equity Securities [Abstract]            
HTM debt securities $ 100   $ 102      
Less: allowance for credit losses (31) $ (29) (21) $ (20) $ (16) $ (12)
Total HTM debt securities, net of allowances $ 69   $ 81      
v3.21.2
DEBT AND EQUITY SECURITIES - Activity in HTM Debt Security Allowance (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Roll Forward]        
Beginning balance $ 29 $ 16 $ 21 $ 12
Credit losses 2 4 8 4
Ending balance $ 31 $ 20 $ 29 $ 16
v3.21.2
RECEIVABLES - Accounts Receivable (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]          
Net receivables $ 373       $ 316
Accounts Receivable, Allowance for Credit Loss [Roll Forward]          
Allowance at January 1 58 $ 38 $ 56 $ 34  
Provisions 1 7 5 14  
Other (1) 1 (3) (10)  
Allowance at period end $ 58 $ 46 $ 58 $ 38  
v3.21.2
RECEIVABLES - Schedule of Financing Receivables (Details) - USD ($)
$ in Millions
Sep. 30, 2021
Jun. 30, 2021
Dec. 31, 2020
Sep. 30, 2020
Jun. 30, 2020
Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable            
Less: allowance for credit losses $ (57)   $ (114)      
Total long-term financing receivables, net of allowances 31   29      
Unsecured financing            
Accounts, Notes, Loans and Financing Receivable            
Unsecured financing to hotel owners 96   145      
Less: current portion of financing receivables, included in receivables, net (8)   (2)      
Less: allowance for credit losses (57) $ (120) (114) $ (110) $ (105) $ (100)
Total long-term financing receivables, net of allowances $ 31   $ 29      
v3.21.2
RECEIVABLES - Allowance for Losses and Impairments (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Allowance for Losses and Impairments        
Allowance beginning balance     $ 114  
Write offs $ (60) $ 0    
Allowance ending balance 57      
Unsecured financing        
Allowance for Losses and Impairments        
Allowance beginning balance 120 105 114 $ 100
Provisions 0 5 6 5
Foreign currency exchange, net (3) 0    
Allowance ending balance $ 57 $ 110 $ 120 $ 105
v3.21.2
RECEIVABLES - Credit Monitoring (Details) - USD ($)
$ in Millions
Sep. 30, 2021
Jun. 30, 2021
Dec. 31, 2020
Sep. 30, 2020
Jun. 30, 2020
Dec. 31, 2019
Unsecured Financing Receivables            
Related allowance $ (57)   $ (114)      
Unsecured financing            
Unsecured Financing Receivables            
Gross loan balance (principal and interest) 96   145      
Related allowance (57) $ (120) (114) $ (110) $ (105) $ (100)
Net financing receivables 39   31      
Gross receivables on nonaccrual status 46   111      
Unsecured financing | Loans            
Unsecured Financing Receivables            
Gross loan balance (principal and interest) 92   83      
Related allowance (54)   (54)      
Net financing receivables 38   29      
Gross receivables on nonaccrual status 46   53      
Unsecured financing | Other financing arrangements            
Unsecured Financing Receivables            
Gross loan balance (principal and interest) 4   62      
Related allowance (3)   (60)      
Net financing receivables 1   2      
Gross receivables on nonaccrual status $ 0   $ 58      
v3.21.2
RECEIVABLES - Narrative (Details) - USD ($)
$ in Millions
Sep. 30, 2021
Dec. 31, 2020
Significant unobservable inputs (Level Three)    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation    
Financing receivables $ 62 $ 44
v3.21.2
ACQUISITIONS AND DISPOSITIONS - Acquisitions Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Dec. 31, 2020
Business Acquisition [Line Items]          
Gain on sale of property $ 307 $ 0 $ 412 $ 8  
Land          
Business Acquisition [Line Items]          
Asset acquisition 7        
Alila Ventana Big Su          
Business Acquisition [Line Items]          
Assets disposals 148        
Gain on sale of property $ 2        
Alila Ventana Big Su          
Business Acquisition [Line Items]          
Asset acquisition     146    
Property and equipment acquired     149    
Grand Hyatt Sao Paulo          
Business Acquisition [Line Items]          
Property and equipment acquired     $ 101    
Asset acquisition, voting rights acquired 50.00%   50.00%    
Cash acquired $ 6   $ 6    
Repayment of third-party mortgage loan 78   78    
Gain on asset acquisition     69    
Reversal of long term liabilities     42    
Currency translation loss reclassified     22    
Deferred tax liabilities $ 11   $ 11    
Grand Hyatt Sao Paulo          
Business Acquisition [Line Items]          
Equity method investment, ownership percentage         50.00%
v3.21.2
ACQUISITIONS AND DISPOSITIONS - Schedule of Assets Acquired and Liabilities Assumed (Details) - Grand Hyatt Sao Paulo
$ in Millions
 9 Months Ended
Sep. 30, 2021
USD ($)
Business Acquisition [Line Items]  
Cash paid $ 6
Repayment of third-party mortgage loan 78
Fair value of our previously-held equity method investment 6
Net assets acquired $ 90
v3.21.2
ACQUISITIONS AND DISPOSITIONS - Dispositions Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2021
Sep. 30, 2020
Dec. 31, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Equity method investments $ 249 $ 249   $ 260
Equity securities without a readily determinable fair value 12 12   $ 12
Right-of-use assets obtained in exchange for operating lease liabilities   16 $ 14  
Hyatt Regency Lake Tahoe Resort, Spa and Casino | Disposal group, disposed of by sale        
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Disposal group, consideration 343 343    
Gains on sales of real estate 305      
Hyatt Regency Lost Pines Resort and Spa | Disposal group, disposed of by sale        
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Disposal group, consideration $ 268 268    
Gains on sales of real estate   $ 104    
Property Under Development, Hotel Philadelphia, Pennsylvania and Adjacent Parking and Retail Space | Disposal group, disposed of by sale        
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Gains on sales of real estate     $ 4  
Consideration in exchange for the third party investment     58.00%  
Proceeds from sales of assets, investing activities     $ 72  
Equity method investment, ownership percentage     42.00%  
Global Contact Center, Omaha, Nebraska        
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Right-of-use assets obtained in exchange for operating lease liabilities     $ 4  
Weighted-average remaining lease term - operating leases     9 years  
Weighted-average discount rate - operating leases     3.25%  
Operating lease, option to extend term     5 years  
Global Contact Center, Omaha, Nebraska | Disposal group, disposed of by sale        
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Disposal group, consideration     $ 6  
Gains on sales of real estate     4  
Unconsolidated Hospitality Venture | Property Under Development, Hotel Philadelphia, Pennsylvania and Adjacent Parking and Retail Space | Disposal group, disposed of by sale        
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Equity method investments     22  
Equity securities without a readily determinable fair value     $ 5  
v3.21.2
ACQUISITIONS AND DISPOSITIONS - Like-Kind Exchange Agreements (Details)
 9 Months Ended
Sep. 30, 2021
Business Combination and Asset Acquisition [Abstract]  
Like-kind exchange period for replacement property identified 45 days
v3.21.2
GOODWILL AND INTANGIBLES, NET - Narrative (Details)
$ in Millions
 9 Months Ended
Sep. 30, 2020
USD ($)
unit
Sep. 30, 2021
USD ($)
Dec. 31, 2020
USD ($)
Goodwill [Line Items]      
Goodwill   $ 288 $ 288
COVID-19 Pandemic      
Goodwill [Line Items]      
Number of reporting units | unit 2    
Goodwill impairment charges $ 38    
v3.21.2
GOODWILL AND INTANGIBLES, NET - Schedule of Intangible Assets (Details) - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2021
Dec. 31, 2020
Intangible Assets, Net (Excluding Goodwill) [Abstract]    
Intangibles $ 493 $ 498
Less: accumulated amortization (130) (113)
Intangibles, net 363 385
Brand and other indefinite-lived intangibles    
Indefinite-lived Intangible Assets [Line Items]    
Brand and other indefinite-lived intangibles 130 130
Management and franchise agreement intangibles    
Finite-Lived Intangible Assets [Line Items]    
Finite-Lived Intangible Assets, Net $ 349 354
Weighted- average useful lives in years 18 years  
Advanced booking intangibles    
Finite-Lived Intangible Assets [Line Items]    
Finite-Lived Intangible Assets, Net $ 6 6
Weighted- average useful lives in years 3 years  
Other definite-lived intangibles    
Finite-Lived Intangible Assets [Line Items]    
Finite-Lived Intangible Assets, Net $ 8 $ 8
Weighted- average useful lives in years 6 years  
v3.21.2
GOODWILL AND INTANGIBLES, NET - Amortization Expense Table (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]        
Amortization expense $ 6 $ 7 $ 20 $ 21
v3.21.2
OTHER ASSETS (Details) - USD ($)
$ in Millions
Sep. 30, 2021
Dec. 31, 2020
Other Assets, Noncurrent [Abstract]    
Marketable securities held to fund rabbi trusts (Note 4) $ 543 $ 511
Management and franchise agreement assets constituting payments to customers 538 470
Marketable securities held to fund the loyalty program (Note 4) 436 441
Marketable securities held for captive insurance company (Note 4) 140 114
Common shares in Playa N.V. (Note 4) 100 72
Long-term investments (Note 4) 74 93
Other 130 96
Total other assets $ 1,961 $ 1,797
v3.21.2
DEBT - Narrative (Details) - USD ($)
 3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Dec. 31, 2020
Debt Instrument          
Long-term debt, net of current maturities $ 2,978,000,000   $ 2,978,000,000   $ 2,984,000,000
Unamortized discount and deferred financing fees 21,000,000   21,000,000   26,000,000
Revolving credit facility, outstanding balance 0   0   $ 0
Revolving credit facility          
Debt Instrument          
Borrowings from revolving credit facility during period     0 $ 400,000,000  
Repayments of revolving credit facility during period     0 $ 400,000,000  
Revolving credit facility, weighted average interest rate   1.71%   1.71%  
Revolving credit facility, remaining borrowing capacity 1,500,000,000   1,500,000,000    
Line of Credit | Revolving credit facility          
Debt Instrument          
Borrowing capacity extension option 1,450,000,000   $ 1,450,000,000    
Term extension period     1 year    
Line of credit commitment $ 1,500,000,000   $ 1,500,000,000    
2025 Notes | Senior Notes          
Debt Instrument          
Long-term debt, face value   $ 450,000,000   $ 450,000,000  
Debt instrument, stated percent   5.375%   5.375%  
2030 Notes | Senior Notes          
Debt Instrument          
Long-term debt, face value   $ 450,000,000   $ 450,000,000  
Debt instrument, stated percent   5.75%   5.75%  
2025 Notes and 2030 Notes | Senior Notes          
Debt Instrument          
Proceeds from issuance of debt       $ 890,000,000  
Unamortized discount and deferred financing fees   $ 10,000,000   10,000,000  
2021 Notes | Senior Notes          
Debt Instrument          
Debt instrument, stated percent 5.375%   5.375%    
Repurchased face amount $ 250,000,000   $ 250,000,000    
Make-whole premium 257,000,000        
Accrued interest 7,000,000        
2022 Notes | Senior Notes          
Debt Instrument          
Long-term debt, face value   750,000,000   750,000,000  
Proceeds from issuance of debt   745,000,000      
Unamortized discount and deferred financing fees   $ 5,000,000   $ 5,000,000  
2022 Notes | Senior Notes | LIBOR          
Debt Instrument          
Debt instrument, stated percent   3.00%   3.00%  
2023 Notes | Senior Notes          
Debt Instrument          
Long-term debt, face value $ 350,000,000   $ 350,000,000    
Debt instrument, stated percent 3.375%   3.375%    
2026 Notes | Senior Notes          
Debt Instrument          
Long-term debt, face value $ 400,000,000   $ 400,000,000    
Debt instrument, stated percent 4.85%   4.85%    
2028 Notes | Senior Notes          
Debt Instrument          
Long-term debt, face value $ 400,000,000   $ 400,000,000    
Debt instrument, stated percent 4.375%   4.375%    
v3.21.2
DEBT - Fair Value (Details) - USD ($)
$ in Millions
Sep. 30, 2021
Dec. 31, 2020
Debt Instrument    
Finance lease obligations $ 7 $ 9
Unamortized discount and deferred financing fees 21 26
Quoted prices in active markets for identical assets (Level One)    
Debt Instrument    
Debt, excluding capital lease obligations and unamortized discounts and deferred financing fees, fair value 0 0
Significant other observable inputs (Level Two)    
Debt Instrument    
Debt, excluding capital lease obligations and unamortized discounts and deferred financing fees, fair value 3,214 3,518
Significant unobservable inputs (Level Three)    
Debt Instrument    
Debt, excluding capital lease obligations and unamortized discounts and deferred financing fees, fair value 38 43
Carrying value    
Debt Instrument    
Debt, excluding capital lease obligations and unamortized discounts and deferred financing fees, fair value 3,002 3,261
Fair value    
Debt Instrument    
Debt, excluding capital lease obligations and unamortized discounts and deferred financing fees, fair value $ 3,252 $ 3,561
v3.21.2
DEBT - Interest Rate Locks (Details) - USD ($)
$ in Millions
 1 Months Ended 3 Months Ended 9 Months Ended
Apr. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Derivative Instruments and Hedging Activities Disclosures [Line Items]          
Interest expense   $ 40 $ 35 $ 123 $ 87
Interest Rate Contract          
Derivative Instruments and Hedging Activities Disclosures [Line Items]          
Unrealized losses on derivative activity, net of tax benefit $ 61   $ 0   37
Interest Rate Contract | Reclassification out of Accumulated Other Comprehensive Income | Accumulated Net Gain (Loss) from Cash Flow Hedges Including Portion Attributable to Noncontrolling Interest          
Derivative Instruments and Hedging Activities Disclosures [Line Items]          
Interest expense         $ 61
v3.21.2
OTHER LONG-TERM LIABILITIES (Details) - USD ($)
$ in Millions
Sep. 30, 2021
Dec. 31, 2020
Other Liabilities [Abstract]    
Deferred compensation plans funded by rabbi trusts (Note 4) $ 543 $ 511
Income taxes payable 174 166
Guarantee liabilities (Note 12) 89 31
Deferred income taxes (Note 11) 78 48
Self-insurance liabilities (Note 12) 64 67
Other 60 88
Total other long-term liabilities $ 1,008 $ 911
v3.21.2
INCOME TAXES (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Jun. 30, 2021
Dec. 31, 2020
Tax Credit Carryforward [Line Items]              
Provision (benefit) for income taxes   $ 138 $ (59) $ 339 $ (188)    
Valuation allowance $ 176 176   176      
Estimated income tax liability based on taxing authority’s assessment 18            
Unrecognized tax benefits 150 150   150     $ 146
Amount of unrecognized tax benefits that would affect the tax rate if recognized $ 146 $ 146   146     49
Internal Revenue Service (IRS)              
Tax Credit Carryforward [Line Items]              
Income tax refund, amount           $ 254 $ 254
Settlement with Taxing Authority              
Tax Credit Carryforward [Line Items]              
Estimated income tax liability based on taxing authority’s assessment       221      
Estimated income tax liability, interest       $ 63      
v3.21.2
COMMITMENTS AND CONTINGENCIES - Commitments and Performance Guarantees Narrative (Details)
$ in Millions
Sep. 30, 2021
USD ($)
Jun. 30, 2021
USD ($)
Apr. 30, 2021
hotel
Dec. 31, 2020
USD ($)
Sep. 30, 2020
USD ($)
Jun. 30, 2020
USD ($)
Dec. 31, 2019
USD ($)
Performance guarantee              
Loss Contingencies              
Remaining maximum exposure $ 93            
Guarantor obligations, liability, current carrying value 48 $ 47   $ 16 $ 33 $ 39 $ 33
Performance guarantee | Other long-term liabilities              
Loss Contingencies              
Guarantor obligations, liability, current carrying value 38     6      
Performance guarantee | Accrued expenses and other current liabilitiess              
Loss Contingencies              
Guarantor obligations, liability, current carrying value 10     10      
Performance Test Clause Guarantee              
Loss Contingencies              
Guarantor obligations, liability, current carrying value 6     3      
Four managed hotels in France | Performance guarantee              
Loss Contingencies              
Hotels managed In France | hotel     4        
Guarantor obligations, liability, current carrying value 0 $ 0   $ 0 $ 20 $ 26 $ 20
Various Business Ventures              
Loss Contingencies              
Commitment to loan or investment $ 332            
v3.21.2
COMMITMENTS AND CONTINGENCIES - Schedule of Guarantor Obligations (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Guarantor Obligations            
Amortization of initial guarantee obligation liability into income $ (1) $ (1)     $ (2) $ (7)
Performance guarantee expense, net 3 8     8 47
Performance guarantee            
Guarantor Obligations            
Beginning balance 47 39 $ 16 $ 33 16 33
Initial guarantee obligation liability     34 0    
Amortization of initial guarantee obligation liability into income (1) (1) (1) (6)    
Performance guarantee expense, net 3 8 5 39    
Payments during the period (1) (14) (7) (26)    
Foreign currency exchange, net 0 1 0 (1)    
Ending balance 48 33 47 39 48 33
Performance guarantee | Four managed hotels in France            
Guarantor Obligations            
Beginning balance 0 26 0 20 0 20
Initial guarantee obligation liability     0 0    
Amortization of initial guarantee obligation liability into income 0 0 0 (4)    
Performance guarantee expense, net 0 0 0 26    
Payments during the period 0 (7) 0 (15)    
Foreign currency exchange, net 0 1 0 (1)    
Ending balance 0 20 0 26 0 20
Performance guarantee | Other performance guarantees            
Guarantor Obligations            
Beginning balance 47 13 16 13 16 13
Initial guarantee obligation liability     34 0    
Amortization of initial guarantee obligation liability into income (1) (1) (1) (2)    
Performance guarantee expense, net 3 8 5 13    
Payments during the period (1) (7) (7) (11)    
Foreign currency exchange, net 0 0 0 0    
Ending balance $ 48 $ 13 $ 47 $ 13 $ 48 $ 13
v3.21.2
COMMITMENTS AND CONTINGENCIES - Schedule of Debt Guarantees (Details) - USD ($)
$ in Millions
Sep. 30, 2021
Dec. 31, 2020
Loss Contingencies    
Other long-term liabilities recorded $ 89 $ 31
Debt repayment and other guarantees    
Loss Contingencies    
Maximum potential future payments 415  
Maximum exposure net of recoverability from third parties 285  
Other long-term liabilities recorded 51 25
Debt repayment and other guarantees | Hotel properties in India    
Loss Contingencies    
Maximum potential future payments 197  
Maximum exposure net of recoverability from third parties 197  
Other long-term liabilities recorded 36 0
Debt repayment and other guarantees | Hotel Properties In Tennessee    
Loss Contingencies    
Maximum potential future payments 56  
Maximum exposure net of recoverability from third parties 20  
Other long-term liabilities recorded 6 8
Debt repayment and other guarantees | Hotel properties in California    
Loss Contingencies    
Maximum potential future payments 38  
Maximum exposure net of recoverability from third parties 15  
Other long-term liabilities recorded 0 2
Debt repayment and other guarantees | Hotel Property In Pennsylvania    
Loss Contingencies    
Maximum potential future payments 28  
Maximum exposure net of recoverability from third parties 11  
Other long-term liabilities recorded 1 1
Debt repayment and other guarantees | Hotel Properties in Massachusetts    
Loss Contingencies    
Maximum potential future payments 27  
Maximum exposure net of recoverability from third parties 14  
Other long-term liabilities recorded 2 4
Debt repayment and other guarantees | Hotel Properties in Georgia    
Loss Contingencies    
Maximum potential future payments 27  
Maximum exposure net of recoverability from third parties 13  
Other long-term liabilities recorded 3 4
Debt repayment and other guarantees | Hotel property in Oregon    
Loss Contingencies    
Maximum potential future payments 21  
Maximum exposure net of recoverability from third parties 8  
Other long-term liabilities recorded 1 1
Debt repayment and other guarantees | Other    
Loss Contingencies    
Maximum potential future payments 21  
Maximum exposure net of recoverability from third parties 7  
Other long-term liabilities recorded 2 $ 5
Debt repayment and other guarantees | Joint venture | Hotel properties in India    
Loss Contingencies    
Maximum exposure net of recoverability from third parties $ 100  
Debt repayment and other guarantees, equity method investment, ownership percentage 50.00%  
v3.21.2
COMMITMENTS AND CONTINGENCIES - Guarantee Liabilities Fair Value Narrative (Details) - USD ($)
$ in Millions
Sep. 30, 2021
Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]    
Guarantees, fair value disclosure $ 116 $ 66
v3.21.2
COMMITMENTS AND CONTINGENCIES - Insurance, Collective Bargaining Agreements, Surety Bonds, and Letters of Credit, and Other Narrative (Details) - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2021
Sep. 30, 2021
Dec. 31, 2020
Loss Contingencies      
Self insurance reserve, current $ 36 $ 36 $ 37
Self-insurance reserve, noncurrent 64 64 $ 67
Surety bonds 44 44  
Estimated income tax liability based on taxing authority’s assessment 18    
Letter of credit      
Loss Contingencies      
Letters of credit outstanding, amount $ 272 $ 272  
Various US      
Loss Contingencies      
Multiemployer plans, collective-bargaining arrangement, percentage of participants   23.00%  
v3.21.2
EQUITY - Accumulated Other Comprehensive Loss (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Total Equity        
Balance, beginning of period $ 2,909 $ 3,493 $ 3,214 $ 3,966
Balance, end of period 3,589 3,353 3,589 3,353
Amount reclassified from accumulated other comprehensive loss     7  
Foreign currency translation adjustments        
Total Equity        
Balance, beginning of period (174) (215) (145) (183)
Current period other comprehensive income (loss) before reclassification (24) 15 (33) (17)
Amount reclassified from accumulated other comprehensive loss 0 0 (20) 0
Balance, end of period (198) (200) (198) (200)
Unrealized gains (losses) on AFS debt securities        
Total Equity        
Balance, beginning of period 0 1 1 1
Current period other comprehensive income (loss) before reclassification 0 0 (1) 0
Amount reclassified from accumulated other comprehensive loss 0 0 0 0
Balance, end of period 0 1 0 1
Unrecognized pension cost        
Total Equity        
Balance, beginning of period (7) (9) (7) (9)
Current period other comprehensive income (loss) before reclassification 0 0 0 0
Amount reclassified from accumulated other comprehensive loss 0 0 0 0
Balance, end of period (7) (9) (7) (9)
Unrealized gains (losses) on derivative instruments        
Total Equity        
Balance, beginning of period (37) (44) (41) (18)
Current period other comprehensive income (loss) before reclassification 0 0 0 (27)
Amount reclassified from accumulated other comprehensive loss 1 2 5 3
Balance, end of period (36) (42) (36) (42)
Accumulated other comprehensive loss        
Total Equity        
Balance, beginning of period (218) (267) (192) (209)
Current period other comprehensive income (loss) before reclassification (24) 15 (34) (44)
Amount reclassified from accumulated other comprehensive loss 1 2 (15) 3
Balance, end of period $ (241) $ (250) $ (241) $ (250)
v3.21.2
EQUITY - Common Stock Offering (Details) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2021
Sep. 30, 2020
Class of Stock [Line Items]      
Common stock net issuance costs   $ 25.0 $ 0.0
Over-Allotment Option      
Class of Stock [Line Items]      
Number of shares issued 1,050,000    
Public Offering      
Class of Stock [Line Items]      
Common stock price (in dollars per share) $ 74.50 $ 74.50  
Number of shares issued 8,050,000    
Net proceeds $ 575.0    
Common stock net issuance costs $ 25.0    
v3.21.2
EQUITY - Share Repurchase (Details) - USD ($)
 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Dec. 31, 2019
Dec. 31, 2018
Share Repurchase        
Stock repurchase program, authorized amount (up to)     $ 750,000,000 $ 750,000,000
Stock repurchased during period (in shares) 0 827,643    
Stock repurchased and retired during period, excluding insignificant expenses   $ 69,000,000    
Percent of stock outstanding repurchased during period   1.00%    
Stock repurchase program, remaining authorized repurchase amount $ 928,000,000      
Weighted Average        
Share Repurchase        
Stock repurchased and retired during period (in dollars per share)   $ 84.08    
v3.21.2
EQUITY - Dividend (Details) - USD ($)
 3 Months Ended 9 Months Ended
Mar. 09, 2020
Feb. 13, 2020
Mar. 31, 2020
Sep. 30, 2021
Sep. 30, 2020
Class of Stock [Line Items]          
Cash dividend declared (in dollars per share)   $ 0.20      
Cash dividend (in dollars per share) $ 0.20   $ 0.20    
Cash dividends     $ 20,000,000    
Common Class A          
Class of Stock [Line Items]          
Dividends       $ 0  
Cash dividends         $ 7,000,000
Common Class B          
Class of Stock [Line Items]          
Dividends       $ 0  
Cash dividends         $ 13,000,000
v3.21.2
STOCK-BASED COMPENSATION - Compensation Expense Related to Long-Term Incentive Plan (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award        
Compensation expense $ 6 $ 3 $ 42 $ 20
SARs        
Share-based Compensation Arrangement by Share-based Payment Award        
Compensation expense 0 0 10 10
RSUs        
Share-based Compensation Arrangement by Share-based Payment Award        
Compensation expense 3 3 19 17
PSUs        
Share-based Compensation Arrangement by Share-based Payment Award        
Compensation expense $ 3 $ 0 $ 13 $ (7)
v3.21.2
STOCK-BASED COMPENSATION - Narrative (Details) - USD ($)
$ / shares in Units, $ in Millions
 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
SARs    
Share-based Compensation Arrangement by Share-based Payment Award    
Grants in period (in shares) 396,889 1,250,434
Grants in period, weighted-average fair value at grant date (in dollars per share) $ 28.68 $ 8.88
Total unearned compensation $ 2  
RSUs    
Share-based Compensation Arrangement by Share-based Payment Award    
Grants in period (in shares) 423,079 628,407
Grants in period, weighted-average fair value at grant date (in dollars per share) $ 80.12 $ 49.33
Total unearned compensation $ 18  
Amortization period, deferred compensation expense 2 years  
PSUs    
Share-based Compensation Arrangement by Share-based Payment Award    
Grants in period (in shares) 153,256 0
Grants in period, weighted-average fair value at grant date (in dollars per share) $ 82.02  
Total unearned compensation $ 17  
SARs ,RSUs and PSUs    
Share-based Compensation Arrangement by Share-based Payment Award    
Amortization period, deferred compensation expense 3 years  
v3.21.2
RELATED-PARTY TRANSACTIONS - Legal Services Narrative (Details) - Related party legal services - Family member of management - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Dec. 31, 2020
Related Party Transaction          
Legal services $ 5 $ 2 $ 7 $ 7  
Due (to) from related parties $ (5)   $ (5)   $ 0
v3.21.2
RELATED-PARTY TRANSACTIONS - Equity Method Investments (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Dec. 31, 2020
Equity method investee          
Related Party Transaction          
Due (to) from related parties $ 12   $ 12   $ 15
Minimum          
Related Party Transaction          
Equity method investment, ownership percentage 24.00%   24.00%    
Maximum          
Related Party Transaction          
Equity method investment, ownership percentage 50.00%   50.00%    
Franchise Or License Fees | Equity method investee          
Related Party Transaction          
Revenue from related parties $ 3 $ 1 $ 7 $ 5  
v3.21.2
RELATED-PARTY TRANSACTIONS - Share Conversion (Details) - $ / shares
 3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Dec. 31, 2020
Common Class B          
Related Party Transaction          
Conversion of stock, shares converted (in shares) 970,647 331,083 2,385,647 2,766,326  
Common stock, par value per share (in dollars per share) $ 0.01   $ 0.01   $ 0.01
Common Class A          
Related Party Transaction          
Common stock, par value per share (in dollars per share) $ 0.01 $ 0.01 $ 0.01 $ 0.01 $ 0.01
v3.21.2
SEGMENT INFORMATION - Summarized Consolidated Financial Information by Segment (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Segment Reporting Information        
Revenues $ 851 $ 399 $ 1,952 $ 1,642
Adjusted EBITDA 110 (48) 145 (79)
Depreciation and amortization 71 80 219 233
Owned and leased hotels        
Segment Reporting Information        
Revenues 263 80 558 422
Management, franchise, and other fees        
Segment Reporting Information        
Revenues 113 52 269 180
Contra revenue        
Segment Reporting Information        
Revenues (9) (7) (26) (20)
Other revenues        
Segment Reporting Information        
Revenues 28 7 69 45
Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties        
Segment Reporting Information        
Revenues 456 267 1,082 1,015
Operating segments | Owned and leased hotels        
Segment Reporting Information        
Revenues 268 82 569 432
Adjusted EBITDA 51 (56) 34 (100)
Depreciation and amortization 58 63 175 182
Operating segments | Owned and leased hotels | Owned and leased hotels        
Segment Reporting Information        
Revenues 268 82 569 432
Operating segments | Owned and leased hotels | Management, franchise, and other fees        
Segment Reporting Information        
Revenues 0 0 0 0
Operating segments | Owned and leased hotels | Contra revenue        
Segment Reporting Information        
Revenues 0 0 0 0
Operating segments | Owned and leased hotels | Other revenues        
Segment Reporting Information        
Revenues 0 0 0 0
Operating segments | Owned and leased hotels | Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties        
Segment Reporting Information        
Revenues 0 0 0 0
Operating segments | Americas management and franchising        
Segment Reporting Information        
Revenues 516 262 1,201 1,045
Adjusted EBITDA 74 16 156 81
Depreciation and amortization 5 5 16 15
Operating segments | Americas management and franchising | Owned and leased hotels        
Segment Reporting Information        
Revenues 0 0 0 0
Operating segments | Americas management and franchising | Management, franchise, and other fees        
Segment Reporting Information        
Revenues 85 29 189 121
Operating segments | Americas management and franchising | Contra revenue        
Segment Reporting Information        
Revenues (5) (5) (14) (13)
Operating segments | Americas management and franchising | Other revenues        
Segment Reporting Information        
Revenues 24 4 60 33
Operating segments | Americas management and franchising | Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties        
Segment Reporting Information        
Revenues 412 234 966 904
Operating segments | ASPAC management and franchising        
Segment Reporting Information        
Revenues 41 35 118 102
Adjusted EBITDA 6 9 21 15
Depreciation and amortization 0 1 2 3
Operating segments | ASPAC management and franchising | Owned and leased hotels        
Segment Reporting Information        
Revenues 0 0 0 0
Operating segments | ASPAC management and franchising | Management, franchise, and other fees        
Segment Reporting Information        
Revenues 16 17 51 42
Operating segments | ASPAC management and franchising | Contra revenue        
Segment Reporting Information        
Revenues (1) 0 (3) (2)
Operating segments | ASPAC management and franchising | Other revenues        
Segment Reporting Information        
Revenues 0 0 0 0
Operating segments | ASPAC management and franchising | Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties        
Segment Reporting Information        
Revenues 26 18 70 62
Operating segments | EAME/SW Asia management and franchising        
Segment Reporting Information        
Revenues 27 17 62 58
Adjusted EBITDA 5 (2) 4 (12)
Depreciation and amortization 0 1 0 1
Operating segments | EAME/SW Asia management and franchising | Owned and leased hotels        
Segment Reporting Information        
Revenues 0 0 0 0
Operating segments | EAME/SW Asia management and franchising | Management, franchise, and other fees        
Segment Reporting Information        
Revenues 12 5 25 17
Operating segments | EAME/SW Asia management and franchising | Contra revenue        
Segment Reporting Information        
Revenues (3) (2) (9) (5)
Operating segments | EAME/SW Asia management and franchising | Other revenues        
Segment Reporting Information        
Revenues 0 0 0 0
Operating segments | EAME/SW Asia management and franchising | Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties        
Segment Reporting Information        
Revenues 18 14 46 46
Operating segments | Corporate and other        
Segment Reporting Information        
Adjusted EBITDA (26) (15) (71) (65)
Depreciation and amortization 8 10 26 32
Operating segments | Corporate and other | Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties        
Segment Reporting Information        
Revenues 0 1 0 3
Operating segments | Corporate and other | Revenues        
Segment Reporting Information        
Revenues 14 7 33 25
Intersegment Eliminations        
Segment Reporting Information        
Revenues (15) (5) (31) (23)
Adjusted EBITDA 0 0 1 2
Intersegment Eliminations | Owned and leased hotels        
Segment Reporting Information        
Revenues (5) (2) (11) (10)
Intersegment Eliminations | Management, franchise, and other fees        
Segment Reporting Information        
Revenues (11) (3) (21) (13)
Intersegment Eliminations | Contra revenue        
Segment Reporting Information        
Revenues 0 0 0 0
Intersegment Eliminations | Other revenues        
Segment Reporting Information        
Revenues 1 0 1 0
Intersegment Eliminations | Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties        
Segment Reporting Information        
Revenues 0 0 0 0
Intersegment Eliminations | Owned and leased hotels        
Segment Reporting Information        
Revenues (5) (2) (11) (10)
Intersegment Eliminations | Americas management and franchising        
Segment Reporting Information        
Revenues (10) (3) (20) (12)
Intersegment Eliminations | EAME/SW Asia management and franchising        
Segment Reporting Information        
Revenues (1) 0 (1) (1)
Intersegment Eliminations | Corporate and other        
Segment Reporting Information        
Revenues $ 1 $ 0 $ 1 $ 0
v3.21.2
SEGMENT INFORMATION - Reconciliation of Net Income attributable to Hyatt Hotels Corporation to EBITDA and a Reconciliation of EBITDA to Consolidated Adjusted EBITDA (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Segment Reporting Information        
Net income (loss) attributable to Hyatt Hotels Corporation $ 120 $ (161) $ (193) $ (500)
Interest expense 40 35 123 87
(Benefit) provision for income taxes 138 (59) 339 (188)
Depreciation and amortization 71 80 219 233
EBITDA 369 (105) 488 (368)
Revenues (851) (399) (1,952) (1,642)
Equity (earnings) losses from unconsolidated hospitality ventures 12 20 (8) 45
Stock-based compensation expense 6 3 42 20
Gains on sales of real estate and other (307) 0 (412) (8)
Asset impairments 0 0 2 52
Other (income) loss, net 3 19 (34) 114
Pro rata share of unconsolidated owned and leased hospitality ventures' Adjusted EBITDA 9 (3) 6 (7)
Adjusted EBITDA 110 (48) 145 (79)
Contra revenue        
Segment Reporting Information        
Revenues 9 7 26 20
Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties        
Segment Reporting Information        
Revenues (456) (267) (1,082) (1,015)
Costs incurred on behalf of managed and franchised properties        
Segment Reporting Information        
Costs incurred on behalf of managed and franchised properties $ 465 $ 278 $ 1,117 $ 1,068
v3.21.2
EARNINGS (LOSSES) PER SHARE - Schedule of the Calculation of Basic and Diluted Losses Per Share (Details) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Numerator:        
Net income (loss) $ 120 $ (161) $ (193) $ (500)
Net income (loss) attributable to noncontrolling interests 0 0 0 0
Net income (loss) attributable to Hyatt Hotels Corporation $ 120 $ (161) $ (193) $ (500)
Denominator:        
Basic weighted-average shares outstanding (in shares) 102,298,714 101,277,404 101,910,558 101,312,741
Share-based compensation (in shares) 1,688,833 0 0 0
Diluted weighted-average shares outstanding (in shares) 103,987,547 101,277,404 101,910,558 101,312,741
Basic Earnings (Losses) Per Share:        
Net income (loss) (in dollars per share) $ 1.17 $ (1.59) $ (1.89) $ (4.93)
Net income (loss) attributable to noncontrolling interests (in dollars per share) 0 0 0 0
Net income (loss) attributable to Hyatt Hotels Corporation (in dollars per share) 1.17 (1.59) (1.89) (4.93)
Diluted Earnings (Losses) Per Share:        
Net income (loss) (in dollars per share) 1.15 (1.59) (1.89) (4.93)
Net income (loss) attributable to noncontrolling interests (in dollars per share) 0 0 0 0
Net income (loss) attributable to Hyatt Hotels Corporation (in dollars per share) $ 1.15 $ (1.59) $ (1.89) $ (4.93)
v3.21.2
EARNINGS (LOSSES) PER SHARE - Anti-dilutive Shares Issued (Details) - shares
 3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
SARs        
Antidilutive Securities Excluded from Computation of Earnings Per Share        
Antidilutive securities excluded from computation of earnings per share (in shares) 4,500 390,900 1,242,900 706,600
RSUs        
Antidilutive Securities Excluded from Computation of Earnings Per Share        
Antidilutive securities excluded from computation of earnings per share (in shares) 3,400 540,200 562,800 499,200
v3.21.2
OTHER INCOME (LOSS), NET (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Other Income and Expenses [Abstract]        
Transaction costs $ (19) $ 0 $ (19) $ 0
Restructuring expenses (3) (22) (3) (69)
Performance guarantee expense (Note 12) (3) (8) (8) (47)
Credit losses (Note 4 and Note 5) (2) (8) (12) (26)
Foreign currency gains (losses), net 0 (1) 7 (3)
Performance guarantee liability amortization (Note 12) 1 1 2 7
Depreciation recovery 4 6 13 18
Unrealized gains (losses), net (Note 4) 7 8 20 (36)
Interest income 7 6 21 23
Other, net 5 (1) 13 19
Other income (loss), net $ (3) $ (19) $ 34 $ (114)
v3.21.2
OTHER INCOME (LOSS), NET- Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Schedule of Debt and Equity Method Investments        
Transaction costs $ 19 $ 0 $ 19 $ 0
Restructuring expenses (3) $ (22) (3) (69)
Hotel Propertyin Washington Member        
Schedule of Debt and Equity Method Investments        
Release and amortization of debt repayment guarantee liability       $ 14
ALG Acquisition        
Schedule of Debt and Equity Method Investments        
Transaction costs $ 19   $ 19  
v3.21.2
SUBSEQUENT EVENTS - Narrative (Details) - USD ($)
 3 Months Ended 9 Months Ended
Nov. 01, 2021
Oct. 15, 2021
Oct. 01, 2021
Aug. 14, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Subsequent Event [Line Items]              
Payments to acquire business net of cash acquired           $ 237,000,000 $ 0
Proceeds from stock issuance           575,000,000 0
Revolving credit facility              
Subsequent Event [Line Items]              
Borrowings from revolving credit facility during period           0 400,000,000
2023 Notes | Senior Notes              
Subsequent Event [Line Items]              
Long-term debt           $ 350,000,000  
Debt instrument, stated percent           3.375%  
2022 Notes | Senior Notes              
Subsequent Event [Line Items]              
Proceeds from issuance of debt         $ 745,000,000    
Long-term debt         $ 750,000,000   $ 750,000,000
Subsequent Event | Senior Notes              
Subsequent Event [Line Items]              
Proceeds from issuance of debt     $ 1,700,000,000        
Subsequent Event | 2023 Notes | Senior Notes              
Subsequent Event [Line Items]              
Long-term debt     $ 700,000,000        
Debt instrument, stated percent     1.30%        
Issue price percentage     99.941%        
Subsequent Event | 2023 Floating Rate Notes | Senior Notes              
Subsequent Event [Line Items]              
Long-term debt     $ 300,000,000        
Subsequent Event | 2024 Fixed Rate Notes | Senior Notes              
Subsequent Event [Line Items]              
Long-term debt     $ 750,000,000        
Debt instrument, stated percent     1.80%        
Issue price percentage     99.994%        
Subsequent Event | 2022 Notes | Senior Notes              
Subsequent Event [Line Items]              
Make-whole premium   $ 753,000,000          
Repurchased face amount   750,000,000          
Accrued interest   $ 3,000,000          
ALG Acquisition              
Subsequent Event [Line Items]              
Total consideration       $ 2,700,000,000      
ALG Acquisition | Subsequent Event              
Subsequent Event [Line Items]              
Payments to acquire business net of cash acquired $ 2,700,000,000            
Proceeds from stock issuance 575,000,000            
ALG Acquisition | Subsequent Event | Senior Notes              
Subsequent Event [Line Items]              
Proceeds from issuance of debt 1,000,000,000            
ALG Acquisition | Subsequent Event | Line of Credit | Revolving credit facility              
Subsequent Event [Line Items]              
Borrowings from revolving credit facility during period $ 210,000,000            
Casablanca Global Intermediate Holdings L.P              
Subsequent Event [Line Items]              
Outstanding limited partnership interest       100.00%      
Casablanca Global GP Limited              
Subsequent Event [Line Items]              
Outstanding limited partnership interest       100.00%