HYATT HOTELS CORP, 10-Q filed on 5/5/2021
Quarterly Report
v3.21.1
Cover Page - shares
 3 Months Ended
Mar. 31, 2021
Apr. 30, 2021
Document Information    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Mar. 31, 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, $0.01 par value  
Trading Symbol H  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Emerging Growth Company false  
Entity Shell Company false  
Entity Central Index Key 0001468174  
Current Fiscal Year End Date --12-31  
Document Fiscal Year Focus 2021  
Document Fiscal Period Focus Q1  
Amendment Flag false  
Common Class A    
Document Information    
Entity Common Stock, Shares Outstanding   41,150,456
Common Class B    
Document Information    
Entity Common Stock, Shares Outstanding   60,623,918
v3.21.1
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
REVENUES:    
Total revenues $ 438 $ 993
DIRECT AND SELLING, GENERAL, AND ADMINISTRATIVE EXPENSES:    
Depreciation and amortization 74 80
Other direct costs 23 34
Selling, general, and administrative 95 47
Direct and selling, general, and administrative expenses 593 988
Net gains (losses) and interest income from marketable securities held to fund rabbi trusts 12 (48)
Equity earnings (losses) from unconsolidated hospitality ventures 54 (2)
Interest expense (41) (17)
Gains on sales of real estate 0 8
Asset impairments 0 (3)
Other income (loss), net 12 (81)
LOSS BEFORE INCOME TAXES (118) (138)
BENEFIT (PROVISION) FOR INCOME TAXES (186) 35
NET LOSS (304) (103)
NET LOSS ATTRIBUTABLE TO NONCONTROLLING INTERESTS 0 0
NET LOSS ATTRIBUTABLE TO HYATT HOTELS CORPORATION $ (304) $ (103)
LOSSES PER SHARE—Basic    
Net loss (in dollars per share) $ (2.99) $ (1.02)
Net loss attributable to Hyatt Hotels Corporation (in dollars per share) (2.99) (1.02)
LOSSES PER SHARE—Diluted    
Net loss (in dollars per share) (2.99) (1.02)
Net loss attributable to Hyatt Hotels Corporation (in dollars per share) $ (2.99) $ (1.02)
Owned and leased hotels    
REVENUES:    
Total revenues $ 104 $ 323
DIRECT AND SELLING, GENERAL, AND ADMINISTRATIVE EXPENSES:    
Costs of goods and services sold 124 272
Management, franchise, and other fees    
REVENUES:    
Total revenues 63 108
Contra revenue    
REVENUES:    
Total revenues (8) (6)
Net management, franchise, and other fees    
REVENUES:    
Total revenues 55 102
Other revenues    
REVENUES:    
Total revenues 19 35
Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties    
REVENUES:    
Total revenues 260 533
Costs incurred on behalf of managed and franchised properties    
DIRECT AND SELLING, GENERAL, AND ADMINISTRATIVE EXPENSES:    
Costs of goods and services sold 277 555
Contra revenue    
REVENUES:    
Total revenues $ (8) $ (6)
v3.21.1
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME LOSS - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Statement of Comprehensive Income [Abstract]    
Net loss $ (304) $ (103)
Other comprehensive loss, net of taxes:    
Foreign currency translation adjustments, net of tax benefit of $— for the three months ended March 31, 2021 and March 31, 2020 (46) (51)
Unrealized losses on available-for-sale debt securities, net of tax benefit of $— for the three months ended March 31, 2021 and March 31,2020 (1) 0
Unrealized gains (losses) on derivative activity, net of tax benefit of $— and $(9) for the three months ended March 31, 2021, and March 31, 2020, respectively 2 (25)
Other comprehensive loss (45) (76)
COMPREHENSIVE LOSS (349) (179)
COMPREHENSIVE LOSS ATTRIBUTABLE TO NONCONTROLLING INTERESTS 0 0
COMPREHENSIVE LOSS ATTRIBUTABLE TO HYATT HOTELS CORPORATION $ (349) $ (179)
v3.21.1
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME LOSS - Parentheticals - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Statement of Comprehensive Income [Abstract]    
Foreign currency translation adjustments, net of tax (benefit) $ 0 $ 0
Unrealized gains on available-for-sale debt securities, net of tax expense 0 0
Unrealized gains on derivative activity, net of tax expense $ 0 $ (9)
v3.21.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Mar. 31, 2021
Dec. 31, 2020
CURRENT ASSETS:    
Cash and cash equivalents $ 1,078 $ 1,207
Restricted cash 9 [1] 11
Short-term investments 550 675
Receivables, net of allowances of $57 and $56 at March 31, 2021 and December 31, 2020, respectively 340 316
Inventories 9 9
Prepaids and other assets 58 64
Prepaid income taxes 288 281
Total current assets 2,332 2,563
Equity method investments 259 260
Property and equipment, net 3,159 3,126
Financing receivables, net of allowances of $115 and $114 at March 31, 2021 and December 31, 2020, respectively 24 29
Operating lease right-of-use assets 458 474
Goodwill 288 288
Intangibles, net 378 385
Deferred tax assets 15 207
Other assets 1,856 1,797
TOTAL ASSETS 8,769 9,129
CURRENT LIABILITIES:    
Current maturities of long-term debt 260 260
Accounts payable 102 102
Accrued expenses and other current liabilities 180 200
Current contract liabilities 281 282
Accrued compensation and benefits 100 111
Current operating lease liabilities 27 29
Total current liabilities 950 984
Long-term debt 2,982 2,984
Long-term contract liabilities 679 659
Long-term operating lease liabilities 363 377
Other long-term liabilities 907 911
Total liabilities 5,881 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 as of March 31, 2021 and December 31, 2020 0 0
Common stock, value 1 1
Additional paid-in capital 36 13
Retained earnings 3,085 3,389
Accumulated other comprehensive loss (237) (192)
Total stockholders' equity 2,885 3,211
Noncontrolling interests in consolidated subsidiaries 3 3
Total equity 2,888 3,214
TOTAL LIABILITIES AND EQUITY $ 8,769 $ 9,129
[1] Restricted cash generally represents sales proceeds pursuant to like-kind exchanges, debt service on bonds, escrow deposits, and other arrangements.
v3.21.1
CONDENSED CONSOLIDATED BALANCE SHEETS - Parentheticals - USD ($)
$ in Millions
Mar. 31, 2021
Dec. 31, 2020
Allowance for doubtful accounts receivable, current $ 57 $ 56
Financing receivable, allowance for credit loss $ 115 $ 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) 40,523,505 39,250,241
Common stock, shares, issued (in shares) 40,523,505 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) 393,233,161 394,033,330
Common stock, shares, outstanding (in shares) 61,238,749 62,038,918
Common stock, shares, issued (in shares) 61,238,749 62,038,918
v3.21.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (304) $ (103)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 74 80
Gains on sales of real estate 0 (8)
Amortization of share awards 32 17
Amortization of operating lease right-of-use assets 8 8
Deferred income taxes 200 (45)
Equity (earnings) losses from unconsolidated hospitality ventures (54) 2
Contra revenue 8 6
Unrealized (gains) losses, net (8) 79
Working capital changes and other (47) (136)
Net cash used in operating activities (91) (100)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of marketable securities and short-term investments (423) (110)
Proceeds from marketable securities and short-term investments 523 109
Contributions to equity method and other investments (16) (21)
Acquisitions, net of cash acquired (84) 0
Capital expenditures (19) (55)
Proceeds from sales of real estate, net of cash disposed 0 78
Other investing activities (12) 12
Net cash provided by (used in) investing activities (31) 13
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from debt 0 400
Repayments of debt (1) (51)
Repurchases of common stock 0 (69)
Dividends paid 0 (20)
Other financing activities (13) (7)
Net cash provided by (used in) financing activities (14) 253
EFFECT OF EXCHANGE RATE CHANGES ON CASH 5 3
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH (131) 169
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH—BEGINNING OF YEAR 1,237 1,063
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH—END OF PERIOD 1,106 1,232
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Total cash, cash equivalents, and restricted cash 1,106 1,232
Cash paid during the period for interest 42 37
Cash paid (received) during the period for income taxes, net (2) 31
Cash paid for amounts included in the measurement of operating lease liabilities 9 13
Non-cash investing and financing activities are as follows:    
Non-cash contributions to equity method and other investments (see Note 6, Note 12) 0 33
Change in accrued capital expenditures 0 9
Non-cash right-of-use assets obtained in exchange for operating lease liabilities (see Note 6) $ 2 $ 4
v3.21.1
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 $ 0 $ 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)     $ (7)   $ (13)  
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, 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        
v3.21.1
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
v3.21.1
ORGANIZATION
 3 Months Ended
Mar. 31, 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, consisting of full service hotels, select service hotels, resorts, and other properties, including timeshare, fractional, and other forms of residential, vacation, and condominium ownership units. At March 31, 2021, (i) we operated or franchised 479 full service hotels, comprising 164,260 rooms throughout the world, (ii) we operated or franchised 514 select service hotels, comprising 73,987 rooms, of which 434 hotels are located in the United States, and (iii) our portfolio included 8 franchised all-inclusive Hyatt-branded resorts, comprising 3,153 rooms. At March 31, 2021, our portfolio of properties operated in 68 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 hotel 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, tommie, 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 into 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 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.
v3.21.1
RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS
 3 Months Ended
Mar. 31, 2021
Accounting Policies [Abstract]  
RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS 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 only available through December 31, 2022. We are currently assessing the impact of adopting ASU 2020-04.
v3.21.1
REVENUE FROM CONTRACTS WITH CUSTOMERS
 3 Months Ended
Mar. 31, 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 March 31, 2021
Owned and leased hotelsAmericas management and franchisingASPAC management and franchisingEAME/SW Asia management and franchisingCorporate and otherEliminationsTotal
Rooms revenues$62 $— $— $— $— $(3)$59 
Food and beverage20 — — — — — 20 
Other 25 — — — — — 25 
Owned and leased hotels107 — — — — (3)104 
Base management fees— 16 8 3 — (3)24 
Incentive management fees— 1 5 2 — — 8 
Franchise fees— 17 — — — — 17 
Other fees— 4 2 2 6 — 14 
Management, franchise, and other fees— 38 15 7 6 (3)63 
Contra revenue— (4)(1)(3)— — (8)
Net management, franchise, and other fees— 34 14 4 6 (3)55 
Other revenues— 17 — — 2 — 19 
Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties— 227 20 13 — — 260 
Total$107 $278 $34 $17 $8 $(6)$438 
Three Months Ended March 31, 2020
Owned and leased hotelsAmericas management and franchisingASPAC management and franchisingEAME/SW Asia management and franchisingCorporate and otherEliminationsTotal
Rooms revenues$185 $— $— $— $— $(7)$178 
Food and beverage 105 — — — — — 105 
Other 40 — — — — — 40 
Owned and leased hotels330 — — — — (7)323 
Base management fees— 44 6 7 — (10)47 
Incentive management fees— 4 3 2 — (1)8 
Franchise fees— 27 — — — — 27 
Other fees— 9 10 1 6 — 26 
Management, franchise, and other fees— 84 19 10 6 (11)108 
Contra revenue— (4)(1)(1)— — (6)
Net management, franchise, and other fees— 80 18 9 6 (11)102 
Other revenues— 27 — — 8 — 35 
Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties— 484 27 20 2 — 533 
Total$330 $591 $45 $29 $16 $(18)$993 
Contract Balances
Our contract assets, included in receivables, net on our condensed consolidated balance sheets, were insignificant at both March 31, 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 at year end.
Contract liabilities were comprised of the following:
March 31, 2021December 31, 2020
Deferred revenue related to the loyalty program$752 $733 
Advanced deposits55 44 
Initial fees received from franchise owners41 41 
Deferred revenue related to insurance programs33 47 
Other deferred revenue79 76 
Total contract liabilities$960 $941 

The following table summarizes the activity in our contract liabilities:
20212020
Beginning balance, January 1$941 $920 
Cash received and other105 246 
Revenue recognized(86)(262)
Ending balance, March 31$960 $904 
Revenue recognized during the three months ended March 31, 2021 and March 31, 2020 included in the contract liabilities balance at the beginning of each year was $69 million and $137 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 $120 million at March 31, 2021, of which we expect to recognize approximately 10% of the revenue over the next 12 months and the remainder thereafter.
v3.21.1
DEBT AND EQUITY SECURITIES
 3 Months Ended
Mar. 31, 2021
Investments, Debt and Equity Securities [Abstract]  
DEBT AND EQUITY SECURITIES DEBT AND EQUITY SECURITIES
Equity Method Investments
Equity method investments were $259 million and $260 million at March 31, 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 March 31,
 20212020
Total revenues$31 $117 
Gross operating profit (loss)(6)34 
Loss from continuing operations(43)(7)
Net loss(43)(7)
During the three months ended March 31, 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:
March 31, 2021December 31, 2020
Loyalty program (Note 8)
$566 $567 
Deferred compensation plans held in rabbi trusts (Note 8 and Note 10)
524 511 
Captive insurance company (Note 8)
216 226 
Total marketable securities held to fund operating programs$1,306 $1,304 
Less: current portion of marketable securities held to fund operating programs included in cash and cash equivalents and short-term investments(208)(238)
Marketable securities held to fund operating programs included in other assets$1,098 $1,066 
Marketable securities held to fund operating programs include $107 million and $82 million of available-for-sale ("AFS") debt securities at March 31, 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 $86 million and $70 million of equity securities with a readily determinable fair value at March 31, 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 statements of income (loss) were as follows:
Three Months Ended March 31,
20212020
Unrealized gains (losses), net
Net gains (losses) and interest income from marketable securities held to fund rabbi trusts$3 $(50)
Other income (loss), net (Note 18)(9)2 
Other comprehensive loss (Note 13)(1)— 
Realized gains (losses), net
Net gains (losses) and interest income from marketable securities held to fund rabbi trusts$9 $2 
Other income (loss), net (Note 18)— 1 
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:
March 31, 2021December 31, 2020
Time deposits$539 $657 
Interest-bearing money market funds134 107 
Common shares of Playa N.V. (Note 8)
89 72 
Total marketable securities held for investment purposes$762 $836 
Less: current portion of marketable securities held for investment purposes included in cash and cash equivalents and short-term investments(673)(764)
Marketable securities held for investment purposes included in other assets$89 $72 
We hold common shares of Playa Hotels & Resorts N.V. ("Playa N.V.") which are accounted for as an equity security with a readily determinable fair value as we do not have the ability to significantly influence the operations of the entity. We did not sell any shares of common stock during the three months ended March 31, 2021 or March 31, 2020. Net unrealized gains (losses) recognized on our condensed consolidated statements of income (loss) were as follows:
Three Months Ended March 31,
20212020
Other income (loss), net (Note 18)$17 $(81)
Fair Value—We measure marketable securities held to fund operating programs and held for investment purposes at fair value on a recurring basis:
March 31, 2021Cash and cash equivalentsShort-term investmentsOther assets
Level One - Quoted Prices in Active Markets for Identical Assets
Interest-bearing money market funds$330 $330 $— $— 
Mutual funds610 — — 610 
Common shares in Playa N.V.89 — — 89 
Level Two - Significant Other Observable Inputs
Time deposits546 1 540 5 
U.S. government obligations215 — 1 214 
U.S. government agencies65 — — 65 
Corporate debt securities151 — 9 142 
Mortgage-backed securities24 — — 24 
Asset-backed securities31 — — 31 
Municipal and provincial notes and bonds7 — — 7 
Total$2,068 $331 $550 $1,187 
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 
During the three months ended March 31, 2021 and March 31, 2020, there were no transfers between levels of the fair value hierarchy. We do not have non-financial assets or non-financial liabilities required to be measured at fair value on a recurring basis.
Other Investments
HTM Debt Securities—We hold investments in held-to-maturity ("HTM") debt securities, which are investments in third-party entities that own or are developing certain of our hotels. The securities are mandatorily redeemable
between 2021 and 2027. At March 31, 2021 and December 31, 2020, HTM debt securities recorded within other assets on our condensed consolidated balance sheets were as follows:

March 31, 2021December 31, 2020
HTM debt securities$103 $102 
Less: allowance for credit losses(22)(21)
Total HTM debt securities, net of allowances$81 $81 

The following table summarizes the activity in our HTM debt security allowance for credit losses:
20212020
Allowance at January 1$21 $12 
  Credit losses (a)1 3 
Allowance at March 31$22 $15 
(a) Credit losses were offset by interest income recognized in the same periods. The credit losses and interest income were both recognized in other income (loss), net on our condensed consolidated statements of income (loss).
We estimated the fair value of HTM debt securities to be approximately $103 million and $100 million at March 31, 2021 and December 31, 2020, respectively. The fair values, which are classified as Level Three in the fair value hierarchy, are estimated using internally developed discounted cash flow models based on current market inputs for similar types of arrangements. The primary sensitivity in these models is based on the selection of appropriate discount rates. Fluctuations in these assumptions could result in different estimates of fair value.
Equity Securities Without a Readily Determinable Fair Value—At both March 31, 2021 and December 31, 2020, we held $12 million of investments in equity securities without a readily determinable fair value, which represent investments in entities where we do not have the ability to significantly influence the operations of the entity.
v3.21.1
RECEIVABLES
 3 Months Ended
Mar. 31, 2021
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]  
RECEIVABLES RECEIVABLES        
Accounts Receivable
At March 31, 2021 and December 31, 2020, we had $340 million and $316 million of net receivables, respectively, on our condensed consolidated balance sheets.
The following table summarizes the activity in our accounts receivable allowance for credit losses:
20212020
Allowance at January 1$56 $34 
  Provisions1 3 
  Other — 1 
Allowance at March 31$57 $38 
                                            
Financing Receivables                        
March 31, 2021December 31, 2020
Unsecured financing to hotel owners$144 $145 
Less: current portion of financing receivables, included in receivables, net(5)(2)
Less: allowance for credit losses(115)(114)
Total long-term financing receivables, net of allowances$24 $29 
Allowance for Credit Losses—The following table summarizes the activity in our unsecured financing receivables allowance:
20212020
Allowance at January 1$114 $100 
  Provisions3 2 
  Foreign currency exchange, net(2)(3)
Allowance at March 31$115 $99 
Credit Monitoring—Our unsecured financing receivables were as follows:
March 31, 2021
 Gross loan balance (principal and interest)Related allowanceNet financing receivablesGross receivables on nonaccrual status
Loans$29 $(1)$28 $— 
Impaired loans (1)53 (53)— 53 
Total loans82 (54)28 53 
Other financing arrangements62 (61)1 59 
Total unsecured financing receivables$144 $(115)$29 $112 
(1) The unpaid principal balance was $42 million and the average recorded loan balance was $53 million at March 31, 2021.
December 31, 2020
 Gross loan balance (principal and interest)Related allowanceNet financing receivablesGross receivables on non-accrual status
Loans$30 $(1)$29 $— 
Impaired loans (2)53 (53)— 53 
Total loans83 (54)29 53 
  Other financing arrangements62 (60)2 58 
Total unsecured financing receivables$145 $(114)$31 $111 
(2) The unpaid principal balance was $42 million and the average recorded loan balance was $48 million at December 31, 2020.
Fair Value—We estimated the fair value of financing receivables to be approximately $47 million and $44 million at March 31, 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.
v3.21.1
ACQUISITIONS AND DISPOSITIONS
 3 Months Ended
Mar. 31, 2021
Business Combinations [Abstract]  
Acquisitions and Dispositions ACQUISITIONS AND DISPOSITIONS
Acquisitions
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 three months ended March 31, 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 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.
Dispositions
Hyatt Centric Center City Philadelphia—During the three months ended March 31, 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 on our condensed consolidated statements of income (loss) during the three months ended March 31, 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 three months ended March 31, 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 on our condensed consolidated statements of income (loss) during the three months ended March 31, 2020. At March 31, 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 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.
v3.21.1
INTANGIBLES, NET
 3 Months Ended
Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLES, NET INTANGIBLES, NET
March 31, 2021Weighted-
average useful
lives in years		December 31, 2020
Management and franchise agreement intangibles$354 18$354 
Brand and other indefinite-lived intangibles130 — 130 
Advanced booking intangibles6 36 
Other definite-lived intangibles8 68 
Intangibles498 498 
Less: accumulated amortization(120)(113)
Intangibles, net$378 $385 

 Three Months Ended March 31,
 20212020
Amortization expense$7 $7 
v3.21.1
OTHER ASSETS
 3 Months Ended
Mar. 31, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
OTHER ASSETS OTHER ASSETS
March 31, 2021December 31, 2020
Marketable securities held to fund rabbi trusts (Note 4)$524 $511 
Management and franchise agreement assets constituting payments to customers (1) 471 470 
Marketable securities held to fund the loyalty program (Note 4)432 441 
Marketable securities held for captive insurance company (Note 4)142 114 
Long-term investments (Note 4)93 93 
Common shares of Playa N.V. (Note 4)89 72 
Other105 96 
Total other assets$1,856 $1,797 
(1) Includes cash consideration as well as other forms of consideration provided, such as debt repayment or performance guarantees.
v3.21.1
DEBT
 3 Months Ended
Mar. 31, 2021
Debt Disclosure [Abstract]  
DEBT DEBT
Long-term debt was $2,982 million and $2,984 million at March 31, 2021 and December 31, 2020, respectively.
Revolving Credit Facility—During the three months ended March 31, 2021, we entered into a Third Amendment to the Second Amended and Restated Credit Agreement (the "Revolver Amendment"). The Revolver Amendment (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 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 Revolver Amendment. The terms of the 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.
During the three months ended March 31, 2021, we had no borrowings or repayments on our revolving credit facility. During the three months ended March 31, 2020, we had $400 million of borrowings and $50 million of repayments on our revolving credit facility. The weighted-average interest rate on these borrowings was 1.66% at March 31, 2020. At both March 31, 2021 and December 31, 2020, we had no balance outstanding. At March 31, 2021, we had $1,499 million of borrowing capacity available under our revolving credit facility, net of letters of credit outstanding.
Fair Value—We estimated the fair value of debt, excluding finance lease obligations, which consists of the notes below, collectively referred to as the "Senior Notes," bonds, and other long-term debt.
•$250 million of 5.375% senior notes due 2021 (the "2021 Notes")
•$750 million of three-month LIBOR plus 3.000% senior notes due 2022 (the "2022 Notes")
•$350 million of 3.375% senior notes due 2023 (the "2023 Notes")
•$450 million of 5.375% senior notes due 2025 (the "2025 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")
•$450 million of 5.750% senior notes due 2030 (the "2030 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.
March 31, 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)$3,257 $3,499 $— $3,461 $38 
(1) Excludes $9 million of finance lease obligations and $24 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—At both March 31, 2021 and December 31, 2020, we had no outstanding interest rate locks. During the three months ended March 31, 2020, we recognized $34 million of pre-tax losses in unrealized gains (losses) on our condensed consolidated statements of comprehensive loss related to derivative instruments 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 and resulted in $2 million of interest expense recognized during the three months ended March 31, 2021 (see Note 13).
v3.21.1
OTHER LONG-TERM LIABILITIES
 3 Months Ended
Mar. 31, 2021
Other Liabilities [Abstract]  
OTHER LONG-TERM LIABILITIES OTHER LONG-TERM LIABILITIES
March 31, 2021December 31, 2020
Deferred compensation plans funded by rabbi trusts (Note 4)$524 $511 
Income taxes payable167 166 
Self-insurance liabilities (Note 12)67 67 
Deferred income taxes (Note 11)66 48 
Guarantee liabilities (Note 12)26 31 
Other57 88 
Total other long-term liabilities$907 $911 
v3.21.1
INCOME TAXES
 3 Months Ended
Mar. 31, 2021
Income Tax Disclosure [Abstract]  
INCOME TAXES INCOME TAXESThe effective income tax rates for the three months ended March 31, 2021 and March 31, 2020 were (156.6)% and 25.4%, respectively. Our effective tax rate decreased for the three months ended March 31, 2021, compared to the three months ended March 31, 2020, due to a $193 million non-cash expense to record a full valuation
allowance on U.S. federal and state deferred tax assets and the impact of unbenefited U.S. and foreign losses in the period.
During the year ended December 31, 2020 and the three months ended March 31, 2021, 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. When assessing the need for a valuation allowance against our deferred tax assets, we considered 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 in the first quarter of 2021 and the indefinite carryforward period of 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. deferred tax assets.
During the three months ended March 31, 2021, we recognized a $193 million valuation allowance for U.S. federal and state deferred tax assets. 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 continue to 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 three months ended March 31, 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. As a result, we expect a refund from the Internal Revenue Service ("IRS") of approximately $250 million, which is recorded in prepaid income taxes on our condensed consolidated balance sheets.
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 three months ended March 31, 2021, we received a Notice of Proposed Adjustment for those tax years related to the loyalty program issue currently in 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 $218 million (including $60 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 March 31, 2021 and December 31, 2020, total unrecognized tax benefits recorded in other long-term liabilities on our condensed consolidated balance sheets were $147 million and $146 million, respectively, of which $138 million and $49 million, respectively, would impact the effective tax rate if recognized.
v3.21.1
COMMITMENTS AND CONTINGENCIES
 3 Months Ended
Mar. 31, 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 March 31, 2021, we are committed, under certain conditions, to lend or provide certain consideration to, or invest in, various business ventures up to $335 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 March 31, 2021, the remaining maximum exposure under our performance guarantees was $41 million. Our most significant performance guarantee, relating to four managed hotels in France, expired on April 30, 2020.
We had $14 million and $16 million of total performance guarantee liabilities at March 31, 2021 and December 31, 2020, respectively, which included $6 million recorded in other long-term liabilities for both periods and $8 million and $10 million recorded in accrued expenses and other current liabilities on our condensed consolidated balance sheets, respectively.
Four managed hotels in FranceOther performance guaranteesAll performance guarantees
202120202021202020212020
Beginning balance, January 1$— $20 $16 $13 $16 $33 
Initial guarantee obligation liability— — 1 — 1 — 
Amortization of initial guarantee obligation liability into income— (4)(1)(1)(1)(5)
Performance guarantee expense, net— 20 1 6 1 26 
Payments during the period— (15)(3)(3)(3)(18)
Ending balance, March 31$— $21 $14 $15 $14 $36 
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 March 31, 2021 and December 31, 2020, we had $4 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 March 31, 2021Other long-term liabilities recorded at December 31, 2020Year of guarantee expiration
Hotel properties in India (1)$170 $170 $— $— 2021
Hotel properties in Tennessee (2)56 26 7 8 various, through 2024
Hotel properties in California (2)38 15 2 2 2021
Hotel property in Pennsylvania (2), (3)28 11 1 1 various, through 2023
Hotel property in Massachusetts (2), (3) 27 14 3 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), (4)21 8 3 5 various, through 2025
Total $388 $265 $20 $25 
(1) Debt repayment guarantee is denominated in Indian rupees and translated using exchange rates at March 31, 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 $85 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) In conjunction with the debt repayment guarantees, we are subject to completion guarantees whereby the parties agree to substantially complete the construction of the project by a specified date. In the event of default, we are obligated to complete construction using the funds available from the outstanding loan. Any additional funds paid by us are subject to partial recovery in the form of cash. At March 31, 2021, the maximum potential future payments and the maximum exposure net of recoverability from third parties are insignificant.
(4) If certain funding thresholds are met or if certain events occur, we have the ability to assume control of the property.

At March 31, 2021, we are not aware of, nor have we received 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 $44 million and $66 million at March 31, 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 March 31, 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 $67 million at both March 31, 2021 and December 31, 2020 and are recorded in other long-term liabilities on our condensed consolidated balance sheets.
Collective Bargaining Agreements—At March 31, 2021, approximately 26% 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 $49 million at March 31, 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 March 31, 2021 were $238 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 guarantee associated with the hotel properties in India, which is only called on if we default on our guarantee. Of the letters of credit outstanding, $1 million reduces 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 March 31, 2021, our maximum exposure is not expected to exceed $18 million.
v3.21.1
EQUITY
 3 Months Ended
Mar. 31, 2021
Equity [Abstract]  
EQUITY EQUITY
Accumulated Other Comprehensive Loss
Balance at
January 1, 2021		Current period other comprehensive loss before reclassificationAmount reclassified from accumulated other comprehensive lossBalance at
March 31, 2021
Foreign currency translation adjustments (a)$(145)$(24)$(22)$(191)
Unrealized gains (losses) on AFS debt securities1 (1)— — 
Unrecognized pension cost(7)— — (7)
Unrealized losses on derivative instruments (b)(41)— 2 (39)
Accumulated other comprehensive loss$(192)$(25)$(20)$(237)
(a) 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).
(b) The amount reclassified from accumulated other comprehensive loss represents realized losses recognized in interest expense related to the settlement of interest rate locks (see Note 9). We expect to reclassify $7 million of losses over the next 12 months.
Balance at
January 1, 2020 		Current period other comprehensive loss before reclassificationAmount reclassified from accumulated other comprehensive lossBalance at
March 31, 2020
Foreign currency translation adjustments$(183)$(51)$— $(234)
Unrealized gains (losses) on AFS debt securities1 — — 1 
Unrecognized pension cost(9)— — (9)
Unrealized losses on derivative instruments(18)(25)— (43)
Accumulated other comprehensive loss$(209)$(76)$— $(285)
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 three months ended March 31, 2021, we did not repurchase common stock.
During the three months ended March 31, 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 related insignificant expenses. The shares repurchased during the three months ended March 31, 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 March 31, 2021, we had $928 million remaining under the share repurchase authorization.
Dividend—Hyatt did not declare or pay dividends to Class A or Class B shareholders of record during the three months ended March 31, 2021. 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 three months ended March 31, 2020, $7 million and $13 million of cash dividends were paid for Class A and Class B common stock, respectively.
v3.21.1
STOCK-BASED COMPENSATION
 3 Months Ended
Mar. 31, 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 these awards was as follows:
Three Months Ended March 31,
20212020
SARs$9 $10 
RSUs13 10 
PSUs 6 (5)
Total$28 $15 
The three months ended March 31, 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 three months ended March 31, 2021, we granted 396,889 SARs to employees with a weighted-average grant date fair value of $28.68. During the three months ended March 31, 2020, we granted 1,250,434 SARs to employees with a weighted-average grant date fair value of $8.88.
RSUs—During the three months ended March 31, 2021, we granted 388,726 RSUs to employees and non-employee directors with a weighted-average grant date fair value of $80.48. During the three months ended March 31, 2020, we granted 519,730 RSUs to employees with a weighted-average grant date fair value of $48.66.
PSUs—During the three months ended March 31, 2021, we granted 153,256 PSUs to employees with a weighted-average grant date fair value of $82.02. During the three months ended March 31, 2020, we did not grant any PSUs under our LTIP.
Our total unearned compensation for our stock-based compensation programs at March 31, 2021 was $3 million for SARs, $25 million for RSUs, and $23 million for PSUs, which will primarily be recognized in stock-based compensation expense over a weighted-average period of three years.
v3.21.1
RELATED-PARTY TRANSACTIONS
 3 Months Ended
Mar. 31, 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:
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 $1 million and $3 million of fees for the three months ended March 31, 2021 and March 31, 2020, respectively. In addition, in some cases we provide loans (see Note 5) or guarantees (see Note 12) to these entities. During each of the three months ended March 31, 2021 and March 31, 2020, we recognized $1 million of income related to these guarantees. At March 31, 2021 and December 31, 2020, we had $15 million of receivables due from these properties. 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 months ended March 31, 2021, 800,169 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.
v3.21.1
SEGMENT INFORMATION
 3 Months Ended
Mar. 31, 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; 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 March 31,
20212020
Owned and leased hotels
Owned and leased hotels revenues$107 $330 
Intersegment revenues (a)3 7 
Adjusted EBITDA(29)34 
Depreciation and amortization59 63 
Americas management and franchising
Management, franchise, and other fees revenues38 84 
Contra revenue(4)(4)
Other revenues17 27 
Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties227 484 
Intersegment revenues (a)3 10 
Adjusted EBITDA28 68 
Depreciation and amortization5 5 
ASPAC management and franchising
Management, franchise, and other fees revenues15 19 
Contra revenue(1)(1)
Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties20 27 
Adjusted EBITDA5 8 
Depreciation and amortization1 1 
EAME/SW Asia management and franchising
Management, franchise, and other fees revenues7 10 
Contra revenue(3)(1)
Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties13 20 
Intersegment revenues (a)— 1 
Adjusted EBITDA— 1 
Depreciation and amortization— — 
Corporate and other
Revenues8 14 
Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties— 2 
Intersegment revenues (a)— — 
Adjusted EBITDA(24)(27)
Depreciation and amortization9 11 
Eliminations
Revenues (a)(6)(18)
Adjusted EBITDA — 2 
TOTAL
Revenues$438 $993 
Adjusted EBITDA(20)86 
Depreciation and amortization74 80 
(a)Intersegment revenues are included in management, franchise, and other fees revenues, owned and leased hotels revenues, and other revenues and eliminated in Eliminations.
The table below provides a reconciliation of our net loss attributable to Hyatt Hotels Corporation to EBITDA and a reconciliation of EBITDA to our consolidated Adjusted EBITDA:
Three Months Ended March 31,
20212020
Net loss attributable to Hyatt Hotels Corporation$(304)$(103)
Interest expense41 17 
(Benefit) provision for income taxes186 (35)
Depreciation and amortization74 80 
EBITDA(3)(41)
Contra revenue8 6 
Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties(260)(533)
Costs incurred on behalf of managed and franchised properties277 555 
Equity (earnings) losses from unconsolidated hospitality ventures(54)2 
Stock-based compensation expense (Note 14)
28 15 
Gains on sales of real estate (Note 6)
— (8)
Asset impairments— 3 
Other (income) loss, net (Note 18)
(12)81 
Pro rata share of unconsolidated owned and leased hospitality ventures' Adjusted EBITDA(4)6 
Adjusted EBITDA$(20)$86 
v3.21.1
LOSSES PER SHARE
 3 Months Ended
Mar. 31, 2021
Earnings Per Share [Abstract]  
LOSSES PER SHARE LOSSES PER SHARE
The calculation of basic and diluted losses per share, including a reconciliation of the numerator and denominator, are as follows:
Three Months Ended March 31,
20212020
Numerator:
Net loss$(304)$(103)
Net loss attributable to noncontrolling interests— — 
Net loss attributable to Hyatt Hotels Corporation$(304)$(103)
Denominator:
Basic weighted-average shares outstanding101,525,935 101,402,348 
Share-based compensation— — 
Diluted weighted-average shares outstanding101,525,935 101,402,348 
Basic Losses Per Share:
Net loss$(2.99)$(1.02)
Net loss attributable to noncontrolling interests— — 
Net loss attributable to Hyatt Hotels Corporation$(2.99)$(1.02)
Diluted Losses Per Share:
Net loss$(2.99)$(1.02)
Net loss attributable to noncontrolling interests— — 
Net loss attributable to Hyatt Hotels Corporation$(2.99)$(1.02)
The computations of diluted net losses per share for the three months ended March 31, 2021 and March 31, 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 March 31,
20212020
SARs1,342,600 1,058,600 
RSUs658,100 470,500 
v3.21.1
OTHER INCOME (LOSS), NET
 3 Months Ended
Mar. 31, 2021
Other Income and Expenses [Abstract]  
OTHER INCOME (LOSS), NET OTHER INCOME (LOSS), NET
Three Months Ended March 31,
20212020
Unrealized gains (losses), net (Note 4)
$8 $(79)
Interest income6 11 
Depreciation recovery4 6 
Performance guarantee liability amortization (Note 12)
1 5 
Performance guarantee expense, net (Note 12)
(1)(26)
Credit losses (Note 4 and Note 5)
(2)(4)
Other, net(4)6 
Other income (loss), net$12 $(81)
v3.21.1
RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS (Policies)
 3 Months Ended
Mar. 31, 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
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 only available through December 31, 2022. We are currently assessing the impact of adopting ASU 2020-04.
Revenue Recognition 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.
Self 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 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 Reporting
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; asset impairments; and other income (loss), net.
v3.21.1
REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables)
 3 Months Ended
Mar. 31, 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 March 31, 2021
Owned and leased hotelsAmericas management and franchisingASPAC management and franchisingEAME/SW Asia management and franchisingCorporate and otherEliminationsTotal
Rooms revenues$62 $— $— $— $— $(3)$59 
Food and beverage20 — — — — — 20 
Other 25 — — — — — 25 
Owned and leased hotels107 — — — — (3)104 
Base management fees— 16 8 3 — (3)24 
Incentive management fees— 1 5 2 — — 8 
Franchise fees— 17 — — — — 17 
Other fees— 4 2 2 6 — 14 
Management, franchise, and other fees— 38 15 7 6 (3)63 
Contra revenue— (4)(1)(3)— — (8)
Net management, franchise, and other fees— 34 14 4 6 (3)55 
Other revenues— 17 — — 2 — 19 
Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties— 227 20 13 — — 260 
Total$107 $278 $34 $17 $8 $(6)$438 
Three Months Ended March 31, 2020
Owned and leased hotelsAmericas management and franchisingASPAC management and franchisingEAME/SW Asia management and franchisingCorporate and otherEliminationsTotal
Rooms revenues$185 $— $— $— $— $(7)$178 
Food and beverage 105 — — — — — 105 
Other 40 — — — — — 40 
Owned and leased hotels330 — — — — (7)323 
Base management fees— 44 6 7 — (10)47 
Incentive management fees— 4 3 2 — (1)8 
Franchise fees— 27 — — — — 27 
Other fees— 9 10 1 6 — 26 
Management, franchise, and other fees— 84 19 10 6 (11)108 
Contra revenue— (4)(1)(1)— — (6)
Net management, franchise, and other fees— 80 18 9 6 (11)102 
Other revenues— 27 — — 8 — 35 
Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties— 484 27 20 2 — 533 
Total$330 $591 $45 $29 $16 $(18)$993 
Summary of Contract Liability
Contract liabilities were comprised of the following:
March 31, 2021December 31, 2020
Deferred revenue related to the loyalty program$752 $733 
Advanced deposits55 44 
Initial fees received from franchise owners41 41 
Deferred revenue related to insurance programs33 47 
Other deferred revenue79 76 
Total contract liabilities$960 $941 

The following table summarizes the activity in our contract liabilities:
20212020
Beginning balance, January 1$941 $920 
Cash received and other105 246 
Revenue recognized(86)(262)
Ending balance, March 31$960 $904 
v3.21.1
DEBT AND EQUITY SECURITIES (Tables)
 3 Months Ended
Mar. 31, 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 March 31,
 20212020
Total revenues$31 $117 
Gross operating profit (loss)(6)34 
Loss from continuing operations(43)(7)
Net loss(43)(7)
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:
March 31, 2021December 31, 2020
Loyalty program (Note 8)
$566 $567 
Deferred compensation plans held in rabbi trusts (Note 8 and Note 10)
524 511 
Captive insurance company (Note 8)
216 226 
Total marketable securities held to fund operating programs$1,306 $1,304 
Less: current portion of marketable securities held to fund operating programs included in cash and cash equivalents and short-term investments(208)(238)
Marketable securities held to fund operating programs included in other assets$1,098 $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 statements of income (loss) were as follows:
Three Months Ended March 31,
20212020
Unrealized gains (losses), net
Net gains (losses) and interest income from marketable securities held to fund rabbi trusts$3 $(50)
Other income (loss), net (Note 18)(9)2 
Other comprehensive loss (Note 13)(1)— 
Realized gains (losses), net
Net gains (losses) and interest income from marketable securities held to fund rabbi trusts$9 $2 
Other income (loss), net (Note 18)— 1 
Marketable Securities Held for Investment Purposes
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:
March 31, 2021December 31, 2020
Time deposits$539 $657 
Interest-bearing money market funds134 107 
Common shares of Playa N.V. (Note 8)
89 72 
Total marketable securities held for investment purposes$762 $836 
Less: current portion of marketable securities held for investment purposes included in cash and cash equivalents and short-term investments(673)(764)
Marketable securities held for investment purposes included in other assets$89 $72 
Unrealized Gain (Loss) on Investments
We hold common shares of Playa Hotels & Resorts N.V. ("Playa N.V.") which are accounted for as an equity security with a readily determinable fair value as we do not have the ability to significantly influence the operations of the entity. We did not sell any shares of common stock during the three months ended March 31, 2021 or March 31, 2020. Net unrealized gains (losses) recognized on our condensed consolidated statements of income (loss) were as follows:
Three Months Ended March 31,
20212020
Other income (loss), net (Note 18)$17 $(81)
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:
March 31, 2021Cash and cash equivalentsShort-term investmentsOther assets
Level One - Quoted Prices in Active Markets for Identical Assets
Interest-bearing money market funds$330 $330 $— $— 
Mutual funds610 — — 610 
Common shares in Playa N.V.89 — — 89 
Level Two - Significant Other Observable Inputs
Time deposits546 1 540 5 
U.S. government obligations215 — 1 214 
U.S. government agencies65 — — 65 
Corporate debt securities151 — 9 142 
Mortgage-backed securities24 — — 24 
Asset-backed securities31 — — 31 
Municipal and provincial notes and bonds7 — — 7 
Total$2,068 $331 $550 $1,187 
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 March 31, 2021 and December 31, 2020, HTM debt securities recorded within other assets on our condensed consolidated balance sheets were as follows:
March 31, 2021December 31, 2020
HTM debt securities$103 $102 
Less: allowance for credit losses(22)(21)
Total HTM debt securities, net of allowances$81 $81 
Debt Securities, Held-to-maturity, Allowance for Credit Loss
The following table summarizes the activity in our HTM debt security allowance for credit losses:
20212020
Allowance at January 1$21 $12 
  Credit losses (a)1 3 
Allowance at March 31$22 $15 
(a) Credit losses were offset by interest income recognized in the same periods. The credit losses and interest income were both recognized in other income (loss), net on our condensed consolidated statements of income (loss).
v3.21.1
RECEIVABLES (Tables)
 3 Months Ended
Mar. 31, 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 accounts receivable allowance for credit losses:
20212020
Allowance at January 1$56 $34 
  Provisions1 3 
  Other — 1 
Allowance at March 31$57 $38 
Financing Receivables
Financing Receivables                        
March 31, 2021December 31, 2020
Unsecured financing to hotel owners$144 $145 
Less: current portion of financing receivables, included in receivables, net(5)(2)
Less: allowance for credit losses(115)(114)
Total long-term financing receivables, net of allowances$24 $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 
  Provisions3 2 
  Foreign currency exchange, net(2)(3)
Allowance at March 31$115 $99 
Credit Monitoring Our unsecured financing receivables were as follows:
March 31, 2021
 Gross loan balance (principal and interest)Related allowanceNet financing receivablesGross receivables on nonaccrual status
Loans$29 $(1)$28 $— 
Impaired loans (1)53 (53)— 53 
Total loans82 (54)28 53 
Other financing arrangements62 (61)1 59 
Total unsecured financing receivables$144 $(115)$29 $112 
(1) The unpaid principal balance was $42 million and the average recorded loan balance was $53 million at March 31, 2021.
December 31, 2020
 Gross loan balance (principal and interest)Related allowanceNet financing receivablesGross receivables on non-accrual status
Loans$30 $(1)$29 $— 
Impaired loans (2)53 (53)— 53 
Total loans83 (54)29 53 
  Other financing arrangements62 (60)2 58 
Total unsecured financing receivables$145 $(114)$31 $111 
(2) The unpaid principal balance was $42 million and the average recorded loan balance was $48 million at December 31, 2020.
v3.21.1
ACQUISITIONS AND DISPOSITIONS (Tables)
 3 Months Ended
Mar. 31, 2021
Business Combinations [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 
v3.21.1
INTANGIBLES, NET (Tables)
 3 Months Ended
Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Finite-Lived Intangible Assets
March 31, 2021Weighted-
average useful
lives in years		December 31, 2020
Management and franchise agreement intangibles$354 18$354 
Brand and other indefinite-lived intangibles130 — 130 
Advanced booking intangibles6 36 
Other definite-lived intangibles8 68 
Intangibles498 498 
Less: accumulated amortization(120)(113)
Intangibles, net$378 $385 
Schedule of Indefinite-Lived Intangible Assets
March 31, 2021Weighted-
average useful
lives in years		December 31, 2020
Management and franchise agreement intangibles$354 18$354 
Brand and other indefinite-lived intangibles130 — 130 
Advanced booking intangibles6 36 
Other definite-lived intangibles8 68 
Intangibles498 498 
Less: accumulated amortization(120)(113)
Intangibles, net$378 $385 
Schedule of Intangible Assets Amortization Expense
 Three Months Ended March 31,
 20212020
Amortization expense$7 $7 
v3.21.1
OTHER ASSETS (Tables)
 3 Months Ended
Mar. 31, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Schedule of Other Assets
March 31, 2021December 31, 2020
Marketable securities held to fund rabbi trusts (Note 4)$524 $511 
Management and franchise agreement assets constituting payments to customers (1) 471 470 
Marketable securities held to fund the loyalty program (Note 4)432 441 
Marketable securities held for captive insurance company (Note 4)142 114 
Long-term investments (Note 4)93 93 
Common shares of Playa N.V. (Note 4)89 72 
Other105 96 
Total other assets$1,856 $1,797 
(1) Includes cash consideration as well as other forms of consideration provided, such as debt repayment or performance guarantees.
v3.21.1
DEBT (Tables)
 3 Months Ended
Mar. 31, 2021
Debt Disclosure [Abstract]  
Fair Value, by Balance Sheet Grouping
March 31, 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)$3,257 $3,499 $— $3,461 $38 
(1) Excludes $9 million of finance lease obligations and $24 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.
v3.21.1
OTHER LONG-TERM LIABILITIES (Tables)
 3 Months Ended
Mar. 31, 2021
Other Liabilities [Abstract]  
Other Long-term Liabilities
March 31, 2021December 31, 2020
Deferred compensation plans funded by rabbi trusts (Note 4)$524 $511 
Income taxes payable167 166 
Self-insurance liabilities (Note 12)67 67 
Deferred income taxes (Note 11)66 48 
Guarantee liabilities (Note 12)26 31 
Other57 88 
Total other long-term liabilities$907 $911 
v3.21.1
COMMITMENTS AND CONTINGENCIES (Tables)
 3 Months Ended
Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Guarantor Obligations
Four managed hotels in FranceOther performance guaranteesAll performance guarantees
202120202021202020212020
Beginning balance, January 1$— $20 $16 $13 $16 $33 
Initial guarantee obligation liability— — 1 — 1 — 
Amortization of initial guarantee obligation liability into income— (4)(1)(1)(1)(5)
Performance guarantee expense, net— 20 1 6 1 26 
Payments during the period— (15)(3)(3)(3)(18)
Ending balance, March 31$— $21 $14 $15 $14 $36 
Debt Repayment and Other Guarantees
Property descriptionMaximum potential future paymentsMaximum exposure net of recoverability from third partiesOther long-term liabilities recorded at March 31, 2021Other long-term liabilities recorded at December 31, 2020Year of guarantee expiration
Hotel properties in India (1)$170 $170 $— $— 2021
Hotel properties in Tennessee (2)56 26 7 8 various, through 2024
Hotel properties in California (2)38 15 2 2 2021
Hotel property in Pennsylvania (2), (3)28 11 1 1 various, through 2023
Hotel property in Massachusetts (2), (3) 27 14 3 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), (4)21 8 3 5 various, through 2025
Total $388 $265 $20 $25 
(1) Debt repayment guarantee is denominated in Indian rupees and translated using exchange rates at March 31, 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 $85 million, taking into account our partner's 50% ownership interest in the unconsolidated hospitality venture. Under certain events or conditions, we have the right to force the sale of the properties in order to recover amounts funded.
(2) We have agreements with our unconsolidated hospitality venture partners, the respective hotel owners, or other third parties to recover certain amounts funded under the debt repayment guarantee; the recoverability mechanism may be in the form of cash or HTM debt security.
(3) In conjunction with the debt repayment guarantees, we are subject to completion guarantees whereby the parties agree to substantially complete the construction of the project by a specified date. In the event of default, we are obligated to complete construction using the funds available from the outstanding loan. Any additional funds paid by us are subject to partial recovery in the form of cash. At March 31, 2021, the maximum potential future payments and the maximum exposure net of recoverability from third parties are insignificant.
(4) If certain funding thresholds are met or if certain events occur, we have the ability to assume control of the property.
v3.21.1
Equity (Tables)
 3 Months Ended
Mar. 31, 2021
Equity [Abstract]  
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Loss
Balance at
January 1, 2021		Current period other comprehensive loss before reclassificationAmount reclassified from accumulated other comprehensive lossBalance at
March 31, 2021
Foreign currency translation adjustments (a)$(145)$(24)$(22)$(191)
Unrealized gains (losses) on AFS debt securities1 (1)— — 
Unrecognized pension cost(7)— — (7)
Unrealized losses on derivative instruments (b)(41)— 2 (39)
Accumulated other comprehensive loss$(192)$(25)$(20)$(237)
(a) 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).
(b) The amount reclassified from accumulated other comprehensive loss represents realized losses recognized in interest expense related to the settlement of interest rate locks (see Note 9). We expect to reclassify $7 million of losses over the next 12 months.
Balance at
January 1, 2020 		Current period other comprehensive loss before reclassificationAmount reclassified from accumulated other comprehensive lossBalance at
March 31, 2020
Foreign currency translation adjustments$(183)$(51)$— $(234)
Unrealized gains (losses) on AFS debt securities1 — — 1 
Unrecognized pension cost(9)— — (9)
Unrealized losses on derivative instruments(18)(25)— (43)
Accumulated other comprehensive loss$(209)$(76)$— $(285)
v3.21.1
STOCK-BASED COMPENSATION (Tables)
 3 Months Ended
Mar. 31, 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 these awards was as follows:
Three Months Ended March 31,
20212020
SARs$9 $10 
RSUs13 10 
PSUs 6 (5)
Total$28 $15 
v3.21.1
SEGMENT INFORMATION (Tables)
 3 Months Ended
Mar. 31, 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 March 31,
20212020
Owned and leased hotels
Owned and leased hotels revenues$107 $330 
Intersegment revenues (a)3 7 
Adjusted EBITDA(29)34 
Depreciation and amortization59 63 
Americas management and franchising
Management, franchise, and other fees revenues38 84 
Contra revenue(4)(4)
Other revenues17 27 
Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties227 484 
Intersegment revenues (a)3 10 
Adjusted EBITDA28 68 
Depreciation and amortization5 5 
ASPAC management and franchising
Management, franchise, and other fees revenues15 19 
Contra revenue(1)(1)
Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties20 27 
Adjusted EBITDA5 8 
Depreciation and amortization1 1 
EAME/SW Asia management and franchising
Management, franchise, and other fees revenues7 10 
Contra revenue(3)(1)
Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties13 20 
Intersegment revenues (a)— 1 
Adjusted EBITDA— 1 
Depreciation and amortization— — 
Corporate and other
Revenues8 14 
Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties— 2 
Intersegment revenues (a)— — 
Adjusted EBITDA(24)(27)
Depreciation and amortization9 11 
Eliminations
Revenues (a)(6)(18)
Adjusted EBITDA — 2 
TOTAL
Revenues$438 $993 
Adjusted EBITDA(20)86 
Depreciation and amortization74 80 
(a)Intersegment revenues are included in management, franchise, and other fees revenues, owned and leased hotels revenues, and other revenues and eliminated in Eliminations.
Reconciliation of Consolidated Adjusted EBITDA to EBITDA and a Reconciliation of EBITDA to Net Income Attributable to Hyatt Hotels Corporation
The table below provides a reconciliation of our net loss attributable to Hyatt Hotels Corporation to EBITDA and a reconciliation of EBITDA to our consolidated Adjusted EBITDA:
Three Months Ended March 31,
20212020
Net loss attributable to Hyatt Hotels Corporation$(304)$(103)
Interest expense41 17 
(Benefit) provision for income taxes186 (35)
Depreciation and amortization74 80 
EBITDA(3)(41)
Contra revenue8 6 
Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties(260)(533)
Costs incurred on behalf of managed and franchised properties277 555 
Equity (earnings) losses from unconsolidated hospitality ventures(54)2 
Stock-based compensation expense (Note 14)
28 15 
Gains on sales of real estate (Note 6)
— (8)
Asset impairments— 3 
Other (income) loss, net (Note 18)
(12)81 
Pro rata share of unconsolidated owned and leased hospitality ventures' Adjusted EBITDA(4)6 
Adjusted EBITDA$(20)$86 
v3.21.1
LOSSES PER SHARE (Tables)
 3 Months Ended
Mar. 31, 2021
Earnings Per Share [Abstract]  
Schedule of the Calculation of Basic and Diluted Losses Per Share
The calculation of basic and diluted losses per share, including a reconciliation of the numerator and denominator, are as follows:
Three Months Ended March 31,
20212020
Numerator:
Net loss$(304)$(103)
Net loss attributable to noncontrolling interests— — 
Net loss attributable to Hyatt Hotels Corporation$(304)$(103)
Denominator:
Basic weighted-average shares outstanding101,525,935 101,402,348 
Share-based compensation— — 
Diluted weighted-average shares outstanding101,525,935 101,402,348 
Basic Losses Per Share:
Net loss$(2.99)$(1.02)
Net loss attributable to noncontrolling interests— — 
Net loss attributable to Hyatt Hotels Corporation$(2.99)$(1.02)
Diluted Losses Per Share:
Net loss$(2.99)$(1.02)
Net loss attributable to noncontrolling interests— — 
Net loss attributable to Hyatt Hotels Corporation$(2.99)$(1.02)
Schedule of Antidilutive Securities Excluded from Computation of Losses Per Share
The computations of diluted net losses per share for the three months ended March 31, 2021 and March 31, 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 March 31,
20212020
SARs1,342,600 1,058,600 
RSUs658,100 470,500 
v3.21.1
OTHER INCOME (LOSS), NET (Tables)
 3 Months Ended
Mar. 31, 2021
Other Income and Expenses [Abstract]  
Other Income (Loss), Net
Three Months Ended March 31,
20212020
Unrealized gains (losses), net (Note 4)
$8 $(79)
Interest income6 11 
Depreciation recovery4 6 
Performance guarantee liability amortization (Note 12)
1 5 
Performance guarantee expense, net (Note 12)
(1)(26)
Credit losses (Note 4 and Note 5)
(2)(4)
Other, net(4)6 
Other income (loss), net$12 $(81)
v3.21.1
Organization (Details)
Mar. 31, 2021
country
hotel
room
Organization  
Number of countries in which entity operates | country 68
Full service  
Organization  
Number of hotels operated or franchised 479
Number of rooms operated or franchised | room 164,260
Select service  
Organization  
Number of hotels operated or franchised 514
Number of rooms operated or franchised | room 73,987
Select service | United States  
Organization  
Number of hotels operated or franchised 434
All inclusive  
Organization  
Number of hotels operated or franchised 8
Number of rooms operated or franchised | room 3,153
v3.21.1
REVENUE FROM CONTRACTS WITH CUSTOMERS- Schedule of Disaggregation of Revenue (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Disaggregation of Revenue [Line Items]    
Revenues $ 438 $ 993
Rooms revenues    
Disaggregation of Revenue [Line Items]    
Revenues 59 178
Food and beverage    
Disaggregation of Revenue [Line Items]    
Revenues 20 105
Other    
Disaggregation of Revenue [Line Items]    
Revenues 25 40
Owned and leased hotels    
Disaggregation of Revenue [Line Items]    
Revenues 104 323
Base management fees    
Disaggregation of Revenue [Line Items]    
Revenues 24 47
Incentive management fees    
Disaggregation of Revenue [Line Items]    
Revenues 8 8
Franchise fees    
Disaggregation of Revenue [Line Items]    
Revenues 17 27
Other fees    
Disaggregation of Revenue [Line Items]    
Revenues 14 26
Management, franchise, and other fees    
Disaggregation of Revenue [Line Items]    
Revenues 63 108
Contra revenue    
Disaggregation of Revenue [Line Items]    
Revenues (8) (6)
Net management, franchise, and other fees    
Disaggregation of Revenue [Line Items]    
Revenues 55 102
Other revenues    
Disaggregation of Revenue [Line Items]    
Revenues 19 35
Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties    
Disaggregation of Revenue [Line Items]    
Revenues 260 533
Operating segments | Owned and leased hotels    
Disaggregation of Revenue [Line Items]    
Revenues 107 330
Operating segments | Owned and leased hotels | Rooms revenues    
Disaggregation of Revenue [Line Items]    
Revenues 62 185
Operating segments | Owned and leased hotels | Food and beverage    
Disaggregation of Revenue [Line Items]    
Revenues 20 105
Operating segments | Owned and leased hotels | Other    
Disaggregation of Revenue [Line Items]    
Revenues 25 40
Operating segments | Owned and leased hotels | Owned and leased hotels    
Disaggregation of Revenue [Line Items]    
Revenues 107 330
Operating segments | Owned and leased hotels | Base management fees    
Disaggregation of Revenue [Line Items]    
Revenues 0 0
Operating segments | Owned and leased hotels | Incentive management fees    
Disaggregation of Revenue [Line Items]    
Revenues 0 0
Operating segments | Owned and leased hotels | Franchise fees    
Disaggregation of Revenue [Line Items]    
Revenues 0 0
Operating segments | Owned and leased hotels | Other fees    
Disaggregation of Revenue [Line Items]    
Revenues 0 0
Operating segments | Owned and leased hotels | Management, franchise, and other fees    
Disaggregation of Revenue [Line Items]    
Revenues 0 0
Operating segments | Owned and leased hotels | Contra revenue    
Disaggregation of Revenue [Line Items]    
Revenues 0 0
Operating segments | Owned and leased hotels | Net management, franchise, and other fees    
Disaggregation of Revenue [Line Items]    
Revenues 0 0
Operating segments | Owned and leased hotels | Other revenues    
Disaggregation of Revenue [Line Items]    
Revenues 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
Operating segments | Americas management and franchising    
Disaggregation of Revenue [Line Items]    
Revenues 278 591
Operating segments | Americas management and franchising | Rooms revenues    
Disaggregation of Revenue [Line Items]    
Revenues 0 0
Operating segments | Americas management and franchising | Food and beverage    
Disaggregation of Revenue [Line Items]    
Revenues 0 0
Operating segments | Americas management and franchising | Other    
Disaggregation of Revenue [Line Items]    
Revenues 0 0
Operating segments | Americas management and franchising | Owned and leased hotels    
Disaggregation of Revenue [Line Items]    
Revenues 0 0
Operating segments | Americas management and franchising | Base management fees    
Disaggregation of Revenue [Line Items]    
Revenues 16 44
Operating segments | Americas management and franchising | Incentive management fees    
Disaggregation of Revenue [Line Items]    
Revenues 1 4
Operating segments | Americas management and franchising | Franchise fees    
Disaggregation of Revenue [Line Items]    
Revenues 17 27
Operating segments | Americas management and franchising | Other fees    
Disaggregation of Revenue [Line Items]    
Revenues 4 9
Operating segments | Americas management and franchising | Management, franchise, and other fees    
Disaggregation of Revenue [Line Items]    
Revenues 38 84
Operating segments | Americas management and franchising | Contra revenue    
Disaggregation of Revenue [Line Items]    
Revenues (4) (4)
Operating segments | Americas management and franchising | Net management, franchise, and other fees    
Disaggregation of Revenue [Line Items]    
Revenues 34 80
Operating segments | Americas management and franchising | Other revenues    
Disaggregation of Revenue [Line Items]    
Revenues 17 27
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 227 484
Operating segments | ASPAC management and franchising    
Disaggregation of Revenue [Line Items]    
Revenues 34 45
Operating segments | ASPAC management and franchising | Rooms revenues    
Disaggregation of Revenue [Line Items]    
Revenues 0 0
Operating segments | ASPAC management and franchising | Food and beverage    
Disaggregation of Revenue [Line Items]    
Revenues 0 0
Operating segments | ASPAC management and franchising | Other    
Disaggregation of Revenue [Line Items]    
Revenues 0 0
Operating segments | ASPAC management and franchising | Owned and leased hotels    
Disaggregation of Revenue [Line Items]    
Revenues 0 0
Operating segments | ASPAC management and franchising | Base management fees    
Disaggregation of Revenue [Line Items]    
Revenues 8 6
Operating segments | ASPAC management and franchising | Incentive management fees    
Disaggregation of Revenue [Line Items]    
Revenues 5 3
Operating segments | ASPAC management and franchising | Franchise fees    
Disaggregation of Revenue [Line Items]    
Revenues 0 0
Operating segments | ASPAC management and franchising | Other fees    
Disaggregation of Revenue [Line Items]    
Revenues 2 10
Operating segments | ASPAC management and franchising | Management, franchise, and other fees    
Disaggregation of Revenue [Line Items]    
Revenues 15 19
Operating segments | ASPAC management and franchising | Contra revenue    
Disaggregation of Revenue [Line Items]    
Revenues (1) (1)
Operating segments | ASPAC management and franchising | Net management, franchise, and other fees    
Disaggregation of Revenue [Line Items]    
Revenues 14 18
Operating segments | ASPAC management and franchising | Other revenues    
Disaggregation of Revenue [Line Items]    
Revenues 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 20 27
Operating segments | EAME/SW Asia management and franchising    
Disaggregation of Revenue [Line Items]    
Revenues 17 29
Operating segments | EAME/SW Asia management and franchising | Rooms revenues    
Disaggregation of Revenue [Line Items]    
Revenues 0 0
Operating segments | EAME/SW Asia management and franchising | Food and beverage    
Disaggregation of Revenue [Line Items]    
Revenues 0 0
Operating segments | EAME/SW Asia management and franchising | Other    
Disaggregation of Revenue [Line Items]    
Revenues 0 0
Operating segments | EAME/SW Asia management and franchising | Owned and leased hotels    
Disaggregation of Revenue [Line Items]    
Revenues 0 0
Operating segments | EAME/SW Asia management and franchising | Base management fees    
Disaggregation of Revenue [Line Items]    
Revenues 3 7
Operating segments | EAME/SW Asia management and franchising | Incentive management fees    
Disaggregation of Revenue [Line Items]    
Revenues 2 2
Operating segments | EAME/SW Asia management and franchising | Franchise fees    
Disaggregation of Revenue [Line Items]    
Revenues 0 0
Operating segments | EAME/SW Asia management and franchising | Other fees    
Disaggregation of Revenue [Line Items]    
Revenues 2 1
Operating segments | EAME/SW Asia management and franchising | Management, franchise, and other fees    
Disaggregation of Revenue [Line Items]    
Revenues 7 10
Operating segments | EAME/SW Asia management and franchising | Contra revenue    
Disaggregation of Revenue [Line Items]    
Revenues (3) (1)
Operating segments | EAME/SW Asia management and franchising | Net management, franchise, and other fees    
Disaggregation of Revenue [Line Items]    
Revenues 4 9
Operating segments | EAME/SW Asia management and franchising | Other revenues    
Disaggregation of Revenue [Line Items]    
Revenues 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 13 20
Corporate and other    
Disaggregation of Revenue [Line Items]    
Revenues 8 16
Corporate and other | Rooms revenues    
Disaggregation of Revenue [Line Items]    
Revenues 0 0
Corporate and other | Food and beverage    
Disaggregation of Revenue [Line Items]    
Revenues 0 0
Corporate and other | Other    
Disaggregation of Revenue [Line Items]    
Revenues 0 0
Corporate and other | Owned and leased hotels    
Disaggregation of Revenue [Line Items]    
Revenues 0 0
Corporate and other | Base management fees    
Disaggregation of Revenue [Line Items]    
Revenues 0 0
Corporate and other | Incentive management fees    
Disaggregation of Revenue [Line Items]    
Revenues 0 0
Corporate and other | Franchise fees    
Disaggregation of Revenue [Line Items]    
Revenues 0 0
Corporate and other | Other fees    
Disaggregation of Revenue [Line Items]    
Revenues 6 6
Corporate and other | Management, franchise, and other fees    
Disaggregation of Revenue [Line Items]    
Revenues 6 6
Corporate and other | Contra revenue    
Disaggregation of Revenue [Line Items]    
Revenues 0 0
Corporate and other | Net management, franchise, and other fees    
Disaggregation of Revenue [Line Items]    
Revenues 6 6
Corporate and other | Other revenues    
Disaggregation of Revenue [Line Items]    
Revenues 2 8
Corporate and other | Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties    
Disaggregation of Revenue [Line Items]    
Revenues 0 2
Eliminations    
Disaggregation of Revenue [Line Items]    
Revenues (6) (18)
Eliminations | Rooms revenues    
Disaggregation of Revenue [Line Items]    
Revenues (3) (7)
Eliminations | Food and beverage    
Disaggregation of Revenue [Line Items]    
Revenues 0 0
Eliminations | Other    
Disaggregation of Revenue [Line Items]    
Revenues 0 0
Eliminations | Owned and leased hotels    
Disaggregation of Revenue [Line Items]    
Revenues (3) (7)
Eliminations | Base management fees    
Disaggregation of Revenue [Line Items]    
Revenues (3) (10)
Eliminations | Incentive management fees    
Disaggregation of Revenue [Line Items]    
Revenues 0 (1)
Eliminations | Franchise fees    
Disaggregation of Revenue [Line Items]    
Revenues 0 0
Eliminations | Other fees    
Disaggregation of Revenue [Line Items]    
Revenues 0 0
Eliminations | Management, franchise, and other fees    
Disaggregation of Revenue [Line Items]    
Revenues (3) (11)
Eliminations | Contra revenue    
Disaggregation of Revenue [Line Items]    
Revenues 0 0
Eliminations | Net management, franchise, and other fees    
Disaggregation of Revenue [Line Items]    
Revenues (3) (11)
Eliminations | Other revenues    
Disaggregation of Revenue [Line Items]    
Revenues 0 0
Eliminations | Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties    
Disaggregation of Revenue [Line Items]    
Revenues 0 0
Eliminations | Owned and leased hotels    
Disaggregation of Revenue [Line Items]    
Revenues 3 7
Eliminations | Americas management and franchising    
Disaggregation of Revenue [Line Items]    
Revenues 3 10
Eliminations | EAME/SW Asia management and franchising    
Disaggregation of Revenue [Line Items]    
Revenues $ 0 $ 1
v3.21.1
REVENUE FROM CONTRACTS WITH CUSTOMERS - Contract Liability Balances (Details) - USD ($)
$ in Millions
Mar. 31, 2021
Dec. 31, 2020
Mar. 31, 2020
Dec. 31, 2019
Disaggregation of Revenue [Line Items]        
Total contract liabilities $ 960 $ 941 $ 904 $ 920
Deferred revenue related to the loyalty program        
Disaggregation of Revenue [Line Items]        
Total contract liabilities 752 733    
Advanced deposits        
Disaggregation of Revenue [Line Items]        
Total contract liabilities 55 44    
Initial fees received from franchise owners        
Disaggregation of Revenue [Line Items]        
Total contract liabilities 41 41    
Deferred revenue related to insurance programs        
Disaggregation of Revenue [Line Items]        
Total contract liabilities 33 47    
Other deferred revenue        
Disaggregation of Revenue [Line Items]        
Total contract liabilities $ 79 $ 76    
v3.21.1
REVENUE FROM CONTRACTS WITH CUSTOMERS- Activity in Contract Liability Balances (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Increase (Decrease) in Contract with Customer, Liability [Roll Forward]    
Contract liabilities, beginning balance $ 941 $ 920
Cash received from contract with customer 105 246
Revenue recognized from contract with customer (86) (262)
Contract liabilities, ending balance 960 904
Revenue recognized from contract with customer beginning balance 69 $ 137
Deferred revenue related to the loyalty program    
Increase (Decrease) in Contract with Customer, Liability [Roll Forward]    
Contract liabilities, beginning balance 733  
Contract liabilities, ending balance 752  
Advanced deposits    
Increase (Decrease) in Contract with Customer, Liability [Roll Forward]    
Contract liabilities, beginning balance 44  
Contract liabilities, ending balance 55  
Initial fees received from franchise owners    
Increase (Decrease) in Contract with Customer, Liability [Roll Forward]    
Contract liabilities, beginning balance 41  
Contract liabilities, ending balance 41  
Deferred revenue related to insurance programs    
Increase (Decrease) in Contract with Customer, Liability [Roll Forward]    
Contract liabilities, beginning balance 47  
Contract liabilities, ending balance 33  
Other deferred revenue    
Increase (Decrease) in Contract with Customer, Liability [Roll Forward]    
Contract liabilities, beginning balance 76  
Contract liabilities, ending balance $ 79  
v3.21.1
REVENUE FROM CONTRACTS WITH CUSTOMERS- Remaining Performance Obligation (Details)
$ in Millions
Mar. 31, 2021
USD ($)
Revenue from Contract with Customer [Abstract]  
Remaining performance obligation $ 120
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-04-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation, percent recognized 10.00%
Remaining performance obligation, period 12 months
v3.21.1
DEBT AND EQUITY SECURITIES - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Dec. 31, 2020
Schedule of Debt and Equity Method Investments      
Equity method investments $ 259.0   $ 260.0
Shares issued during period (in shares) 0 0  
Held-to-maturity securities, fair value $ 103.0   100.0
Equity securities without a readily determinable fair value 12.0   12.0
Grand Hyatt Sao Paulo      
Schedule of Debt and Equity Method Investments      
Cash acquired 6.0    
Repayment of third-party mortgage loan 78.0    
Gain on asset acquisition 69.0    
Loyalty program      
Schedule of Debt and Equity Method Investments      
Available-for-sale debt securities 107.0   82.0
Captive insurance companies      
Schedule of Debt and Equity Method Investments      
Equity securities $ 86.0   $ 70.0
v3.21.1
DEBT AND EQUITY SECURITIES - Summarized Financial Information (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Schedule of Debt and Equity Method Investments    
Net loss $ (304) $ (103)
Equity Method Investment, Nonconsolidated Investee or Group of Investees    
Schedule of Debt and Equity Method Investments    
Total revenues 31 117
Gross operating profit (loss) (6) 34
Loss from continuing operations (43) (7)
Net loss $ (43) $ (7)
v3.21.1
DEBT AND EQUITY SECURITIES - Held to Fund Operating Programs (Details) - USD ($)
$ in Millions
Mar. 31, 2021
Dec. 31, 2020
Held for operating programs    
Schedule of Investments    
Total marketable securities held for investment purposes $ 1,306 $ 1,304
Less current portion of marketable securities held to fund operating programs included in cash and cash equivalents, short-term investments, and prepaids and other assets (208) (238)
Marketable securities held to fund operating programs included in other assets 1,098 1,066
Loyalty program (Note 8)    
Schedule of Investments    
Total marketable securities held for investment purposes 566 567
Deferred compensation plans held in rabbi trusts (Note 8 and Note 10)    
Schedule of Investments    
Total marketable securities held for investment purposes 524 511
Captive insurance company (Note 8)    
Schedule of Investments    
Total marketable securities held for investment purposes $ 216 $ 226
v3.21.1
DEBT AND EQUITY SECURITIES - Gain (loss) on Investments Held to Fund Operating Programs (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Unrealized gains (losses), net    
Net gains (losses) and interest income from marketable securities held to fund rabbi trusts $ 3 $ (50)
Other income (loss), net (9) 2
Other comprehensive loss (Note 13) (1) 0
Realized gains (losses), net    
Net gains (losses) and interest income from marketable securities held to fund rabbi trusts 9 2
Other income (loss), net $ 0 $ 1
v3.21.1
DEBT AND EQUITY SECURITIES - Held for Investment Purposes (Details) - USD ($)
$ in Millions
Mar. 31, 2021
Dec. 31, 2020
Schedule of Investments    
Common shares of Playa N.V. (Note 4) $ 89 $ 72
Held for Investment Purposes    
Schedule of Investments    
Time deposits 539 657
Interest-bearing money market funds 134 107
Common shares of Playa N.V. (Note 4) 89 72
Total marketable securities held for investment purposes 762 836
Less current portion of marketable securities held for investment purposes included in cash and cash equivalents and short-term investments (673) (764)
Marketable securities held for investment purposes included in other assets $ 89 $ 72
v3.21.1
DEBT AND EQUITY SECURITIES - Common Shares of Playa N.V (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Playa Hotels & Resorts N.V.    
Schedule of Investments    
Unrealized gains (losses) recognized in other income (loss), net $ 17 $ (81)
v3.21.1
DEBT AND EQUITY SECURITIES - Fair Value of Investments (Details) - USD ($)
$ in Millions
Mar. 31, 2021
Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Investments, fair value disclosure $ 2,068 $ 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 330 327
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 610 581
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 89 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 546 662
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 215 208
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 65 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 151 159
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 24 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 31 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 7 7
Cash and cash equivalents    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Investments, fair value disclosure 331 327
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 330 327
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 1 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 550 675
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 540 659
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 1 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 9 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 1,187 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 610 581
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 89 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 5 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 214 205
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 65 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 142 146
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 24 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 31 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 $ 7 $ 7
v3.21.1
DEBT AND EQUITY SECURITIES - Schedule of Debt and Equity Securities HTM (Details) - USD ($)
$ in Millions
Mar. 31, 2021
Dec. 31, 2020
Mar. 31, 2020
Dec. 31, 2019
Equity Method Investments and Joint Ventures [Abstract]        
HTM debt securities $ 103 $ 102    
Less: allowance for credit losses (22) (21) $ (15) $ (12)
Total HTM debt securities, net of allowances $ 81 $ 81    
v3.21.1
DEBT AND EQUITY SECURITIES - Activity in HTM Debt Security Allowance (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Roll Forward]    
Allowance at January 1 $ 21 $ 12
Credit losses 1 3
Allowance at March 31 $ 22 $ 15
v3.21.1
RECEIVABLES - Accounts Receivable (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]      
Net receivables $ 340   $ 316
Accounts Receivable, Allowance for Credit Loss [Roll Forward]      
Allowance at January 1   $ 34  
Provisions 1 3  
Other 0 1  
Allowance at March 31 $ 57 $ 38  
v3.21.1
RECEIVABLES - Schedule of Financing Receivables (Details) - USD ($)
$ in Millions
Mar. 31, 2021
Dec. 31, 2020
Mar. 31, 2020
Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable        
Less: allowance for credit losses $ (115) $ (114)    
Total long-term financing receivables, net of allowances 24 29    
Unsecured financing        
Accounts, Notes, Loans and Financing Receivable        
Unsecured financing to hotel owners 144 145    
Less: current portion of financing receivables, included in receivables, net (5) (2)    
Less: allowance for credit losses (115) (114) $ (99) $ (100)
Total long-term financing receivables, net of allowances $ 24 $ 29    
v3.21.1
RECEIVABLES - Allowance for Losses and Impairments (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Allowance for Losses and Impairments    
Allowance beginning balance $ 114  
Allowance ending balance 115  
Unsecured financing    
Allowance for Losses and Impairments    
Allowance beginning balance 114 $ 100
Provisions 3 2
Foreign currency exchange, net (2) (3)
Allowance ending balance $ 115 $ 99
v3.21.1
RECEIVABLES - Credit Monitoring (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Mar. 31, 2021
Dec. 31, 2020
Mar. 31, 2020
Dec. 31, 2019
Unsecured Financing Receivables        
Related allowance $ (115) $ (114)    
Unsecured financing        
Unsecured Financing Receivables        
Gross loan balance (principal and interest) 144 145    
Related allowance (115) (114) $ (99) $ (100)
Net financing receivables 29 31    
Gross receivables on non-accrual status 112 111    
Unsecured financing | Loans        
Unsecured Financing Receivables        
Gross loan balance (principal and interest) 29 30    
Related allowance (1) (1)    
Net financing receivables 28 29    
Gross receivables on non-accrual status 0 0    
Unsecured financing | Impaired loans        
Unsecured Financing Receivables        
Impaired loans 53 53    
Impaired loans, allowance (53) (53)    
Net financing receivables 0 0    
Gross receivables on non-accrual status 53 53    
Impaired financing receivable, unpaid principal balance 42 42    
Impaired financing receivable, average recorded investment 53 48    
Unsecured financing | Total loans        
Unsecured Financing Receivables        
Gross loan balance (principal and interest) 82 83    
Related allowance (54) (54)    
Net financing receivables 28 29    
Gross receivables on non-accrual status 53 53    
Unsecured financing | Other financing arrangements        
Unsecured Financing Receivables        
Gross loan balance (principal and interest) 62 62    
Related allowance (61) (60)    
Net financing receivables 1 2    
Gross receivables on non-accrual status $ 59 $ 58    
v3.21.1
RECEIVABLES - Narrative (Details) - USD ($)
$ in Millions
Mar. 31, 2021
Dec. 31, 2020
Significant unobservable inputs (Level Three)    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation    
Financing receivables $ 47 $ 44
v3.21.1
ACQUISITIONS AND DISPOSITIONS - Acquisitions Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2021
Dec. 31, 2020
Grand Hyatt Sao Paulo    
Business Acquisition [Line Items]    
Asset acquisition, voting rights acquired 50.00%  
Cash acquired $ 6.0  
Repayment of third-party mortgage loan 78.0  
Gain on asset acquisition 69.0  
Reversal of long term liabilities 42.0  
Currency translation loss reclassified (22.0)  
Property and equipment acquired 101.0  
Deferred tax liabilities $ 11.0  
Grand Hyatt Sao Paulo    
Business Acquisition [Line Items]    
Equity method investment, ownership percentage   50.00%
v3.21.1
ACQUISITIONS AND DISPOSITIONS - Schedule of Assets Acquired and Liabilities Assumed (Details) - Grand Hyatt Sao Paulo
$ in Millions
 3 Months Ended
Mar. 31, 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
v3.21.1
ACQUISITIONS AND DISPOSITIONS - Dispositions Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Dec. 31, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]      
Equity method investments $ 259   $ 260
Equity securities without a readily determinable fair value 12   $ 12
Right-of-use assets obtained in exchange for operating lease liabilities $ 2 $ 4  
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]      
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%  
Gains on sales of real estate   $ 4  
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]      
Gains on sales of real estate   $ 4  
Disposal group, consideration   6  
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  
v3.21.1
ACQUISITIONS AND DISPOSITIONS - Like-Kind Exchange Agreements (Details)
 3 Months Ended
Mar. 31, 2021
Business Combinations [Abstract]  
Like-kind exchange period for replacement property identified 45 days
v3.21.1
INTANGIBLES, NET - Schedule of Intangible Assets (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2021
Dec. 31, 2020
Schedule of Intangible Asset by Major Class    
Intangible assets, gross $ 498 $ 498
Less: accumulated amortization (120) (113)
Intangibles, net 378 385
Brand and other indefinite-lived intangibles    
Schedule of Intangible Asset by Major Class    
Intangible assets, gross 130 130
Management and franchise agreement intangibles    
Schedule of Intangible Asset by Major Class    
Intangible assets, gross $ 354 354
Weighted- average useful lives in years 18 years  
Advanced booking intangibles    
Schedule of Intangible Asset by Major Class    
Intangible assets, gross $ 6 6
Weighted- average useful lives in years 3 years  
Other definite-lived intangibles    
Schedule of Intangible Asset by Major Class    
Intangible assets, gross $ 8 $ 8
Weighted- average useful lives in years 6 years  
v3.21.1
INTANGIBLES, NET - Amortization Expense Table (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]    
Amortization expense $ 7 $ 7
v3.21.1
OTHER ASSETS (Details) - USD ($)
$ in Millions
Mar. 31, 2021
Dec. 31, 2020
Other Assets, Noncurrent [Abstract]    
Marketable securities held to fund rabbi trusts (Note 4) $ 524 $ 511
Management and franchise agreement assets constituting payments to customers (1) 471 470
Marketable securities held to fund the loyalty program (Note 4) 432 441
Marketable securities held for captive insurance company (Note 4) 142 114
Long-term investments (Note 4) 93 93
Common shares of Playa N.V. (Note 4) 89 72
Other 105 96
Total other assets $ 1,856 $ 1,797
v3.21.1
DEBT - Narrative (Details) - USD ($)
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Dec. 31, 2020
Debt Instrument      
Long-term debt, net of current maturities $ 2,982,000,000   $ 2,984,000,000
Revolving credit facility      
Debt Instrument      
Borrowings from revolving credit facility during period 0 $ 400,000,000  
Repayments of revolving credit facility during period 0 $ 50,000,000  
Revolving credit facility, weighted average interest rate   1.66%  
Revolving credit facility, outstanding balance 0   $ 0
Revolving credit facility, remaining borrowing capacity 1,499,000,000    
Line of Credit | Revolving credit facility      
Debt Instrument      
Borrowing capacity extension option $ 1,450,000,000    
Term extension period 1 year    
Line of credit commitment $ 1,500,000,000    
2021 Notes | Senior Notes      
Debt Instrument      
Long-term debt, face value $ 250,000,000    
Debt instrument, stated percent 5.375%    
2022 Notes | Senior Notes      
Debt Instrument      
Long-term debt, face value $ 750,000,000    
Debt instrument, stated percent 3.00%    
2023 Notes | Senior Notes      
Debt Instrument      
Long-term debt, face value $ 350,000,000    
Debt instrument, stated percent 3.375%    
2025 Notes | Senior Notes      
Debt Instrument      
Long-term debt, face value $ 450,000,000    
Debt instrument, stated percent 5.375%    
2026 Notes | Senior Notes      
Debt Instrument      
Long-term debt, face value $ 400,000,000    
Debt instrument, stated percent 4.85%    
2028 Notes | Senior Notes      
Debt Instrument      
Long-term debt, face value $ 400,000,000    
Debt instrument, stated percent 4.375%    
2030 Notes | Senior Notes      
Debt Instrument      
Long-term debt, face value $ 450,000,000    
Debt instrument, stated percent 5.75%    
v3.21.1
DEBT - Fair Value (Details) - USD ($)
$ in Millions
Mar. 31, 2021
Dec. 31, 2020
Debt Instrument    
Finance lease obligations $ 9 $ 9
Unamortized discount and deferred financing fees 24 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 3,461 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 3,257 3,261
Fair value    
Debt Instrument    
Debt, excluding capital lease obligations and unamortized discounts and deferred financing fees, fair value $ 3,499 $ 3,561
v3.21.1
DEBT - Interest Rate Locks (Details) - USD ($)
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Dec. 31, 2020
Apr. 30, 2020
Derivative Instruments and Hedging Activities Disclosures [Line Items]        
Unrealized losses on derivative activity, net of tax benefit   $ 34,000,000    
Interest Rate Contract        
Derivative Instruments and Hedging Activities Disclosures [Line Items]        
Derivative, notional amount $ 0   $ 0  
Derivative, notional amount, settled value       $ 61,000,000
Derivative, loss on derivative $ 2,000,000      
v3.21.1
OTHER LONG-TERM LIABILITIES (Details) - USD ($)
$ in Millions
Mar. 31, 2021
Dec. 31, 2020
Other Liabilities [Abstract]    
Deferred compensation plans funded by rabbi trusts (Note 4) $ 524 $ 511
Income taxes payable 167 166
Self-insurance liabilities (Note 12) 67 67
Deferred income taxes (Note 11) 66 48
Guarantee liabilities (Note 12) 26 31
Other 57 88
Total other long-term liabilities $ 907 $ 911
v3.21.1
INCOME TAXES (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Dec. 31, 2020
Tax Credit Carryforward [Line Items]      
Effective income tax rate (156.60%) 25.40%  
Change in deferred tax assets valuation allowance $ 193    
Valuation allowance 193    
Unrecognized tax benefits 147   $ 146
Amount of unrecognized tax benefits that would affect the tax rate if recognized 138   $ 49
Internal Revenue Service (IRS)      
Tax Credit Carryforward [Line Items]      
Income tax refund, amount 250    
Settlement with Taxing Authority      
Tax Credit Carryforward [Line Items]      
Estimated income tax liability based on taxing authority’s assessment 218    
Estimated income tax liability, interest $ 60    
v3.21.1
COMMITMENTS AND CONTINGENCIES - Commitments and Performance Guarantees Narrative (Details)
$ in Millions
Mar. 31, 2021
USD ($)
hotel
Dec. 31, 2020
USD ($)
Mar. 31, 2020
USD ($)
Dec. 31, 2019
USD ($)
Performance guarantee        
Loss Contingencies        
Remaining maximum exposure $ 41      
Guarantor obligations, liability, current carrying value 14 $ 16 $ 36 $ 33
Performance guarantee | Other long-term liabilities        
Loss Contingencies        
Guarantor obligations, liability, current carrying value 6 6    
Performance guarantee | Accrued expenses and other current liabilitiess        
Loss Contingencies        
Guarantor obligations, liability, current carrying value 8 10    
Performance Test Clause Guarantee        
Loss Contingencies        
Guarantor obligations, liability, current carrying value $ 4 3    
Four managed hotels in France | Performance guarantee        
Loss Contingencies        
Hotels managed In France | hotel 4      
Guarantor obligations, liability, current carrying value $ 0 $ 0 $ 21 $ 20
Various Business Ventures        
Loss Contingencies        
Commitment to loan or investment $ 335      
v3.21.1
COMMITMENTS AND CONTINGENCIES - Schedule of Guarantor Obligations (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Guarantor Obligations    
Amortization of initial guarantee obligation liability into income $ (1) $ (5)
Performance guarantee expense, net 1 26
Performance guarantee    
Guarantor Obligations    
Beginning balance 16 33
Initial guarantee obligation liability 1 0
Amortization of initial guarantee obligation liability into income (1) (5)
Performance guarantee expense, net 1 26
Payments during the period (3) (18)
Ending balance 14 36
Performance guarantee | Four managed hotels in France    
Guarantor Obligations    
Beginning balance 0 20
Initial guarantee obligation liability 0 0
Amortization of initial guarantee obligation liability into income 0 (4)
Performance guarantee expense, net 0 20
Payments during the period 0 (15)
Ending balance 0 21
Performance guarantee | Other performance guarantees    
Guarantor Obligations    
Beginning balance 16 13
Initial guarantee obligation liability 1 0
Amortization of initial guarantee obligation liability into income (1) (1)
Performance guarantee expense, net 1 6
Payments during the period (3) (3)
Ending balance $ 14 $ 15
v3.21.1
COMMITMENTS AND CONTINGENCIES - Debt Repayment and Other Guarantees Narrative (Details) - USD ($)
$ in Millions
Mar. 31, 2021
Dec. 31, 2020
Loss Contingencies    
Debt repayment and other guarantees, other long-term liabilities $ 26 $ 31
Debt repayment and other guarantees    
Loss Contingencies    
Debt repayment and other guarantees, other long-term liabilities $ 20 $ 25
v3.21.1
COMMITMENTS AND CONTINGENCIES - Schedule of Debt Guarantees (Details) - USD ($)
$ in Millions
Mar. 31, 2021
Dec. 31, 2020
Loss Contingencies    
Debt repayment and other guarantees, other long-term liabilities $ 26 $ 31
Debt repayment and other guarantees    
Loss Contingencies    
Debt repayment and other guarantees, maximum potential future payments 388  
Debt repayment and other guarantees, maximum exposure net of recoverability from third parties 265  
Debt repayment and other guarantees, other long-term liabilities 20 25
Debt repayment and other guarantees | Hotel properties in India    
Loss Contingencies    
Debt repayment and other guarantees, maximum potential future payments 170  
Debt repayment and other guarantees, maximum exposure net of recoverability from third parties 170  
Debt repayment and other guarantees, other long-term liabilities 0 0
Debt repayment and other guarantees | Hotel Properties In Tennessee    
Loss Contingencies    
Debt repayment and other guarantees, maximum potential future payments 56  
Debt repayment and other guarantees, maximum exposure net of recoverability from third parties 26  
Debt repayment and other guarantees, other long-term liabilities 7 8
Debt repayment and other guarantees | Hotel properties in California    
Loss Contingencies    
Debt repayment and other guarantees, maximum potential future payments 38  
Debt repayment and other guarantees, maximum exposure net of recoverability from third parties 15  
Debt repayment and other guarantees, other long-term liabilities 2 2
Debt repayment and other guarantees | Hotel Property In Pennsylvania    
Loss Contingencies    
Debt repayment and other guarantees, maximum potential future payments 28  
Debt repayment and other guarantees, maximum exposure net of recoverability from third parties 11  
Debt repayment and other guarantees, other long-term liabilities 1 1
Debt repayment and other guarantees | Hotel Properties in Massachusetts    
Loss Contingencies    
Debt repayment and other guarantees, maximum potential future payments 27  
Debt repayment and other guarantees, maximum exposure net of recoverability from third parties 14  
Debt repayment and other guarantees, other long-term liabilities 3 4
Debt repayment and other guarantees | Hotel Properties in Georgia    
Loss Contingencies    
Debt repayment and other guarantees, maximum potential future payments 27  
Debt repayment and other guarantees, maximum exposure net of recoverability from third parties 13  
Debt repayment and other guarantees, other long-term liabilities 3 4
Debt repayment and other guarantees | Hotel property in Oregon    
Loss Contingencies    
Debt repayment and other guarantees, maximum potential future payments 21  
Debt repayment and other guarantees, maximum exposure net of recoverability from third parties 8  
Debt repayment and other guarantees, other long-term liabilities 1 1
Debt repayment and other guarantees | Other    
Loss Contingencies    
Debt repayment and other guarantees, maximum potential future payments 21  
Debt repayment and other guarantees, maximum exposure net of recoverability from third parties 8  
Debt repayment and other guarantees, other long-term liabilities 3 $ 5
Debt repayment and other guarantees | Joint venture | Hotel properties in India    
Loss Contingencies    
Debt repayment and other guarantees, maximum exposure net of recoverability from third parties $ 85  
Debt repayment and other guarantees, equity method investment, ownership percentage 50.00%  
v3.21.1
COMMITMENTS AND CONTINGENCIES - Guarantee Liabilities Fair Value Narrative (Details) - USD ($)
$ in Millions
Mar. 31, 2021
Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]    
Guarantees, fair value disclosure $ 44 $ 66
v3.21.1
COMMITMENTS AND CONTINGENCIES - Insurance, Collective Bargaining Agreements, Surety Bonds, and Letters of Credit, and Other Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2021
Dec. 31, 2020
Loss Contingencies    
Self insurance reserve, current $ 36 $ 37
Self-insurance reserve, noncurrent 67 $ 67
Surety bonds 49  
Maximum    
Loss Contingencies    
Maximum exposure of possible loss 18  
Letter of credit    
Loss Contingencies    
Letters of credit outstanding, amount 238  
Letters of credit outstanding, reduction to available capacity $ 1  
Various US    
Loss Contingencies    
Multiemployer plans, collective-bargaining arrangement, percentage of participants 26.00%  
v3.21.1
Equity - Accumulated Other Comprehensive Loss (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Total Equity    
Balance, beginning of period $ 3,214 $ 3,966
Balance, end of period 2,888 3,708
Amount reclassified from accumulated other comprehensive loss 7  
Foreign currency translation adjustments    
Total Equity    
Balance, beginning of period (145) (183)
Current period other comprehensive loss before reclassification (24) (51)
Amount reclassified from accumulated other comprehensive loss (22) 0
Balance, end of period (191) (234)
Unrealized gains (losses) on AFS debt securities    
Total Equity    
Balance, beginning of period 1 1
Current period other comprehensive loss before reclassification (1) 0
Amount reclassified from accumulated other comprehensive loss 0 0
Balance, end of period 0 1
Unrecognized pension cost    
Total Equity    
Balance, beginning of period (7) (9)
Current period other comprehensive loss before reclassification 0 0
Amount reclassified from accumulated other comprehensive loss 0 0
Balance, end of period (7) (9)
Unrealized losses on derivative instruments    
Total Equity    
Balance, beginning of period (41) (18)
Current period other comprehensive loss before reclassification 0 (25)
Amount reclassified from accumulated other comprehensive loss 2 0
Balance, end of period (39) (43)
Accumulated other comprehensive loss    
Total Equity    
Balance, beginning of period (192) (209)
Current period other comprehensive loss before reclassification (25) (76)
Amount reclassified from accumulated other comprehensive loss (20) 0
Balance, end of period $ (237) $ (285)
v3.21.1
Equity - Share Repurchase (Details) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended
Mar. 31, 2020
Mar. 31, 2021
Dec. 31, 2019
Dec. 31, 2018
Share Repurchase        
Stock repurchase program, authorized amount     $ 750 $ 750
Stock repurchased during period (in shares) 827,643      
Stock repurchased and retired during period, excluding insignificant expenses $ 69      
Percent of stock outstanding repurchased during period 1.00%      
Stock repurchase program, remaining authorized repurchase amount   $ 928    
Weighted Average        
Share Repurchase        
Stock repurchased and retired during period (in dollars per share) $ 84.08      
v3.21.1
Equity - Dividend (Details) - USD ($)
 3 Months Ended
Mar. 09, 2020
Feb. 13, 2020
Mar. 31, 2021
Mar. 31, 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
v3.21.1
STOCK-BASED COMPENSATION - Compensation Expense Related to Long-Term Incentive Plan (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award    
Compensation expense $ 28 $ 15
SARs    
Share-based Compensation Arrangement by Share-based Payment Award    
Compensation expense 9 10
RSUs    
Share-based Compensation Arrangement by Share-based Payment Award    
Compensation expense 13 10
PSUs    
Share-based Compensation Arrangement by Share-based Payment Award    
Compensation expense $ 6 $ (5)
v3.21.1
STOCK-BASED COMPENSATION - Narrative (Details) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended
Mar. 31, 2021
Mar. 31, 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 $ 3  
RSUs    
Share-based Compensation Arrangement by Share-based Payment Award    
Grants in period (in shares) 388,726 519,730
Grants in period, weighted-average fair value at grant date (in dollars per share) $ 80.48 $ 48.66
Total unearned compensation $ 25  
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 $ 23  
SARs ,RSUs and PSUs    
Share-based Compensation Arrangement by Share-based Payment Award    
Amortization period, deferred compensation expense 3 years  
v3.21.1
RELATED-PARTY TRANSACTIONS - Equity Method Investments (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Dec. 31, 2020
Minimum      
Related Party Transaction      
Equity method investment, ownership percentage 24.00%    
Maximum      
Related Party Transaction      
Equity method investment, ownership percentage 50.00%    
Equity method investee      
Related Party Transaction      
Management, franchise, and other fees $ 1 $ 3  
Guarantee fees 1 $ 1  
Due (to) from related parties $ 15   $ 15
v3.21.1
RELATED-PARTY TRANSACTIONS - Share Conversion (Details) - $ / shares
 3 Months Ended
Mar. 31, 2021
Dec. 31, 2020
Common Class B    
Related Party Transaction    
Conversion of stock, shares converted (in shares) 800,169  
Common stock, par value per share (in dollars per share) $ 0.01 $ 0.01
Common Class A    
Related Party Transaction    
Common stock, par value per share (in dollars per share) $ 0.01 $ 0.01
v3.21.1
SEGMENT INFORMATION - Summarized Consolidated Financial Information by Segment (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Segment Reporting Information    
Total revenues $ 438 $ 993
Adjusted EBITDA (20) 86
Depreciation and amortization 74 80
Owned and leased hotels    
Segment Reporting Information    
Total revenues 104 323
Management, franchise, and other fees    
Segment Reporting Information    
Total revenues 63 108
Contra revenue    
Segment Reporting Information    
Total revenues (8) (6)
Other revenues    
Segment Reporting Information    
Total revenues 19 35
Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties    
Segment Reporting Information    
Total revenues 260 533
Operating segments | Owned and leased hotels    
Segment Reporting Information    
Total revenues 107 330
Adjusted EBITDA (29) 34
Depreciation and amortization 59 63
Operating segments | Owned and leased hotels | Owned and leased hotels    
Segment Reporting Information    
Total revenues 107 330
Operating segments | Owned and leased hotels | Management, franchise, and other fees    
Segment Reporting Information    
Total revenues 0 0
Operating segments | Owned and leased hotels | Contra revenue    
Segment Reporting Information    
Total revenues 0 0
Operating segments | Owned and leased hotels | Other revenues    
Segment Reporting Information    
Total revenues 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    
Total revenues 0 0
Operating segments | Americas management and franchising    
Segment Reporting Information    
Total revenues 278 591
Adjusted EBITDA 28 68
Depreciation and amortization 5 5
Operating segments | Americas management and franchising | Owned and leased hotels    
Segment Reporting Information    
Total revenues 0 0
Operating segments | Americas management and franchising | Management, franchise, and other fees    
Segment Reporting Information    
Total revenues 38 84
Operating segments | Americas management and franchising | Contra revenue    
Segment Reporting Information    
Total revenues (4) (4)
Operating segments | Americas management and franchising | Other revenues    
Segment Reporting Information    
Total revenues 17 27
Operating segments | Americas management and franchising | Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties    
Segment Reporting Information    
Total revenues 227 484
Operating segments | ASPAC management and franchising    
Segment Reporting Information    
Total revenues 34 45
Adjusted EBITDA 5 8
Depreciation and amortization 1 1
Operating segments | ASPAC management and franchising | Owned and leased hotels    
Segment Reporting Information    
Total revenues 0 0
Operating segments | ASPAC management and franchising | Management, franchise, and other fees    
Segment Reporting Information    
Total revenues 15 19
Operating segments | ASPAC management and franchising | Contra revenue    
Segment Reporting Information    
Total revenues (1) (1)
Operating segments | ASPAC management and franchising | Other revenues    
Segment Reporting Information    
Total revenues 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    
Total revenues 20 27
Operating segments | EAME/SW Asia management and franchising    
Segment Reporting Information    
Total revenues 17 29
Adjusted EBITDA 0 1
Depreciation and amortization 0 0
Operating segments | EAME/SW Asia management and franchising | Owned and leased hotels    
Segment Reporting Information    
Total revenues 0 0
Operating segments | EAME/SW Asia management and franchising | Management, franchise, and other fees    
Segment Reporting Information    
Total revenues 7 10
Operating segments | EAME/SW Asia management and franchising | Contra revenue    
Segment Reporting Information    
Total revenues (3) (1)
Operating segments | EAME/SW Asia management and franchising | Other revenues    
Segment Reporting Information    
Total revenues 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    
Total revenues 13 20
Eliminations    
Segment Reporting Information    
Total revenues (6) (18)
Adjusted EBITDA 0 2
Eliminations | Owned and leased hotels    
Segment Reporting Information    
Total revenues (3) (7)
Eliminations | Management, franchise, and other fees    
Segment Reporting Information    
Total revenues (3) (11)
Eliminations | Contra revenue    
Segment Reporting Information    
Total revenues 0 0
Eliminations | Other revenues    
Segment Reporting Information    
Total revenues 0 0
Eliminations | Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties    
Segment Reporting Information    
Total revenues 0 0
Eliminations | Owned and leased hotels    
Segment Reporting Information    
Total revenues 3 7
Eliminations | Americas management and franchising    
Segment Reporting Information    
Total revenues 3 10
Eliminations | EAME/SW Asia management and franchising    
Segment Reporting Information    
Total revenues 0 1
Corporate and other    
Segment Reporting Information    
Total revenues 8 16
Adjusted EBITDA (24) (27)
Depreciation and amortization 9 11
Corporate and other | Owned and leased hotels    
Segment Reporting Information    
Total revenues 0 0
Corporate and other | Management, franchise, and other fees    
Segment Reporting Information    
Total revenues 6 6
Corporate and other | Contra revenue    
Segment Reporting Information    
Total revenues 0 0
Corporate and other | Other revenues    
Segment Reporting Information    
Total revenues 2 8
Corporate and other | Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties    
Segment Reporting Information    
Total revenues 0 2
Corporate and other | Revenues    
Segment Reporting Information    
Total revenues 8 14
Intersegment Eliminations, Corporate and Reconciling Items    
Segment Reporting Information    
Total revenues $ 0 $ 0
v3.21.1
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
Mar. 31, 2021
Mar. 31, 2020
Segment Reporting Information    
Net loss attributable to Hyatt Hotels Corporation $ (304) $ (103)
Interest expense 41 17
(Benefit) provision for income taxes 186 (35)
Depreciation and amortization 74 80
EBITDA (3) (41)
Revenues (438) (993)
Equity (earnings) losses from unconsolidated hospitality ventures (54) 2
Stock-based compensation expense 28 15
Gains on sales of real estate 0 (8)
Asset impairments 0 3
Other (income) loss, net (12) 81
Pro rata share of unconsolidated owned and leased hospitality ventures' Adjusted EBITDA (4) 6
Adjusted EBITDA (20) 86
Contra revenue    
Segment Reporting Information    
Revenues 8 6
Revenues for the reimbursement of costs incurred on behalf of managed and franchised properties    
Segment Reporting Information    
Revenues (260) (533)
Costs incurred on behalf of managed and franchised properties    
Segment Reporting Information    
Costs incurred on behalf of managed and franchised properties $ 277 $ 555
v3.21.1
LOSSES PER SHARE - Schedule of the Calculation of Basic and Diluted Losses Per Share (Details) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Numerator:    
Net loss $ (304) $ (103)
Net loss attributable to noncontrolling interests 0 0
NET LOSS ATTRIBUTABLE TO HYATT HOTELS CORPORATION $ (304) $ (103)
Denominator:    
Basic weighted-average shares outstanding (in shares) 101,525,935 101,402,348
Share-based compensation (in shares) 0 0
Diluted weighted-average shares outstanding (in shares) 101,525,935 101,402,348
Basic Losses Per Share:    
Net loss (in dollars per share) $ (2.99) $ (1.02)
Net loss attributable to noncontrolling interests (in dollars per share) 0 0
Net loss attributable to Hyatt Hotels Corporation (in dollars per share) (2.99) (1.02)
Diluted Losses Per Share:    
Net loss (in dollars per share) (2.99) (1.02)
Net loss attributable to noncontrolling interests (in dollars per share) 0 0
Net loss attributable to Hyatt Hotels Corporation (in dollars per share) $ (2.99) $ (1.02)
v3.21.1
LOSSES PER SHARE - Anti-dilutive Shares Issued (Details) - shares
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
SARs    
Antidilutive Securities Excluded from Computation of Earnings Per Share    
Antidilutive securities excluded from computation of earnings per share (in shares) 1,342,600 1,058,600
RSUs    
Antidilutive Securities Excluded from Computation of Earnings Per Share    
Antidilutive securities excluded from computation of earnings per share (in shares) 658,100 470,500
v3.21.1
OTHER INCOME (LOSS), NET (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Other Income and Expenses [Abstract]    
Unrealized gains (losses), net (Note 4) $ 8 $ (79)
Interest income 6 11
Depreciation recovery 4 6
Performance guarantee liability amortization (Note 12) 1 5
Performance guarantee expense, net (Note 12) (1) (26)
Credit losses (Note 4 and Note 5) (2) (4)
Other, net (4) 6
Other income (loss), net $ 12 $ (81)
v3.21.1
Label Element Value
Restricted Cash and Cash Equivalents, Noncurrent us-gaap_RestrictedCashAndCashEquivalentsNoncurrent $ 19,000,000
Restricted Cash and Cash Equivalents, Noncurrent us-gaap_RestrictedCashAndCashEquivalentsNoncurrent $ 20,000,000
[1] Restricted cash generally represents sales proceeds pursuant to like-kind exchanges, debt service on bonds, escrow deposits, and other arrangements.