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Segment Information (Tables)
3 Months Ended
Mar. 31, 2017
Segment Reporting [Abstract]  
Summary of Segment Information

 

 

Three months ended March 31, 2017

 

 

 

Hotel

 

 

Non-Hotel

 

 

Corporate and

Unallocated

 

 

Total

 

 

 

(in millions)

 

Revenue

 

$

314

 

 

$

58

 

 

$

-

 

 

$

372

 

Adjusted EBITDA (1)

 

88

 

 

 

(15

)

 

 

-

 

 

 

73

 

Depreciation

 

 

 

 

 

 

 

 

 

 

(19

)

 

 

(19

)

Amortization of intangible assets

 

 

 

 

 

 

 

 

 

 

(8

)

 

 

(8

)

Stock-based compensation

 

 

 

 

 

 

 

 

 

 

(19

)

 

 

(19

)

Operating income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

27

 

Other expense, net

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(2

)

Income before income taxes

 

 

 

 

 

 

 

 

 

 

 

 

 

 

25

 

Provision for income taxes

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(12

)

Net income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

13

 

 

 

 

Three months ended March 31, 2016

 

 

 

Hotel

 

 

Non-Hotel

 

 

Corporate and

Unallocated

 

 

Total

 

 

 

(in millions)

 

Revenue

 

$

303

 

 

$

49

 

 

$                    -

 

 

$

352

 

Adjusted EBITDA (1)

 

106

 

 

 

(21

)

 

-

 

 

 

85

 

Depreciation

 

 

 

 

 

 

 

 

 

 

(16

)

 

 

(16

)

Amortization of intangible assets

 

 

 

 

 

 

 

 

 

 

(8

)

 

 

(8

)

Stock-based compensation

 

 

 

 

 

 

 

 

 

 

(19

)

 

 

(19

)

Operating income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

42

 

Other expense, net

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(4

)

Income before income taxes

 

 

 

 

 

 

 

 

 

 

 

 

 

 

38

 

Provision for income taxes

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(9

)

Net income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

29

 

 

 

(1)

Includes allocated general and administrative expenses in our Hotel segment of $19 million and $22 million; and in our Non-Hotel segment of $9 million and $9 million for the three months ended March 31, 2017 and 2016, respectively.