Separation-Related and Transaction-Related Costs |
9 Months Ended |
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Sep. 30, 2018 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Separation-Related and Transaction-Related Costs |
Separation-Related and Transaction-Related Costs
Separation-Related
On May 31, 2018, Wyndham Worldwide completed the Distribution, which resulted in Wyndham Hotels & Resorts, Inc. becoming a separate, publicly traded company (see Note 1 - Basis of Presentation for further details).
For the three and nine months ended September 30, 2018, the Company incurred $17 million and $63 million, respectively, of separation-related costs associated with its spin-off from Wyndham Worldwide. These costs primarily consist of severance, stock-based compensation and other employee-related costs.
Transaction-Related, Net
For the three months ended September 30, 2018, the Company incurred $7 million of transaction-related costs primarily related to the Company’s acquisition of La Quinta.
For the nine months ended September 30, 2018, the Company incurred $37 million of transaction-related costs consisting of $60 million primarily related to the Company’s acquisition of La Quinta partially offset by a $23 million gain on the sale of its Knights Inn brand in May 2018. This sale was not material to the Company’s results of operations or financial position.
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- Definition Separation-Related and Transaction-Related Costs [Text Block] No definition available.
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