Dispositions

3 Months Ended

Mar. 31, 2017

Disposal Group Not Discontinued Operation Disposal Disclosures [Abstract]

Dispositions

7. Dispositions

During the first quarter, we sold the JW Marriott Desert Springs Resort & Spa for $172 million, including $12 million of furniture, fixtures and equipment replacement funds retained at the hotel.

The following table provides summary results of operations for the one hotel sold during the first quarter of 2017 and ten hotels sold in 2016, which are included in continuing operations (in millions):

	Quarter ended March 31,
	2017		2016
Revenues	$	3	$	68
Income before taxes and gain on disposal		1		11
Gain on disposals		15		58

As of March 31, 2017, the Sheraton Memphis Downtown and the Hilton Melbourne South Wharf have been classified as held for sale. Subsequent to quarter end, on April 19, 2017, we sold the Sheraton Memphis Downtown for $67 million and expect to record a gain of approximately $28 million in the second quarter.