v3.26.1
Condensed Consolidated Statements of Operations - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Revenues        
Total revenues $ 680 $ 672 $ 1,302 $ 1,302
Operating expenses        
Impairment and casualty loss 22 0 27 70
Depreciation and amortization 66 122 130 191
Corporate general and administrative 20 19 38 37
Other 22 23 46 44
Total expenses 583 624 1,142 1,263
(Loss) gain on sales of assets, net (2) 1 (3) 1
Gain on derecognition of assets 0 16 0 32
Operating income 95 65 157 72
Interest income 2 2 3 5
Interest expense (52) (53) (103) (105)
Interest expense associated with hotels in receivership 0 (16) 0 (32)
Equity in earnings from investments in affiliates 1 2 2 2
Other gain (loss), net 9 (1) 9 1
Income (loss) before income taxes 55 (1) 68 (57)
Income tax expense (5) (1) (6) (2)
Net income (loss) 50 (2) 62 (59)
Net income attributable to noncontrolling interests (3) (3) (4) (3)
Net income (loss) attributable to stockholders $ 47 $ (5) $ 58 $ (62)
Earnings (loss) per share:        
Earnings (loss) per share – Basic (USD per share) $ 0.24 $ (0.02) $ 0.29 $ (0.31)
Earnings (loss) per share – Diluted (USD per share) $ 0.24 $ (0.02) $ 0.29 $ (0.31)
Weighted average shares outstanding - Basic (in shares) 200 199 200 199
Weighted average shares outstanding - Diluted (in shares) 200 199 200 199
Rooms        
Revenues        
Total revenues $ 401 $ 401 $ 757 $ 764
Operating expenses        
Cost of goods and services sold 104 105 201 205
Food and beverage        
Revenues        
Total revenues 188 180 370 362
Operating expenses        
Cost of goods and services sold 125 122 247 245
Ancillary hotel        
Revenues        
Total revenues 67 68 127 131
Other        
Revenues        
Total revenues 24 23 48 45
Operating expenses        
Other property 42 50 96 107
Other departmental and support        
Operating expenses        
Cost of goods and services sold 149 152 294 303
Management fees        
Operating expenses        
Cost of goods and services sold $ 33 $ 31 $ 63 $ 61