Separation-Related and Transaction-Related Costs |
6 Months Ended |
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Jun. 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 six months ended June 30, 2018, the Company incurred $35 million and $46 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 June 30, 2018, the Company incurred $28 million of transaction-related costs consisting primarily of $51 million related to the Company’s acquisition of La Quinta partially offset by a $23 million gain the Company recorded in connection with its sale, in May 2018, of its Knights Inn brand and franchise system for $27 million in cash, subject to certain post-closing adjustments.
For the six months ended June 30, 2018, the Company incurred $30 million of transaction-related costs consisting of $53 million related to the Company’s acquisition of La Quinta partially offset by a $23 million gain the Company recorded in connection with its sale, in May 2018, of its Knights Inn brand. This sale was not material to the Company’s results of operations or financial position.
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