Quarterly report pursuant to Section 13 or 15(d)

Condensed Combined Statements of Income

v3.8.0.1
Condensed Combined Statements of Income - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Net revenues    
Net revenues $ 302 $ 289
Expenses    
Operating 41 44
General and administrative 22 22
Depreciation and amortization 19 18
Separation-related 12 0
Transaction-related 2 0
Restructuring 0 1
Total expenses 246 232
Operating income 56 57
Interest expense, net 1 2
Income before income taxes 55 55
Provision for income taxes 16 22
Net income 39 33
Royalties and franchise fees    
Net revenues    
Net revenues 82 75
Marketing, reservation and loyalty    
Net revenues    
Net revenues 84 77
Expenses    
Cost of revenues 84 81
Hotel management    
Net revenues    
Net revenues 30 29
License and other revenues from Parent    
Net revenues    
Net revenues 17 16
Cost reimbursements    
Net revenues    
Net revenues 66 66
Expenses    
Cost of revenues 66 66
Other    
Net revenues    
Net revenues $ 23 $ 26