General, administrative, and other

^[1]

168

139

148

^[1]

704

634

659

Merger-related costs and charges

386

Costs and Expenses, Total

15,704

13,136

12,637

OPERATING INCOME

1,368

1,350

1,159

Gains and other income, net

^[1]

Interest expense

(234)

(167)

(115)

Interest income

^[1]

Equity in earnings

^[1]

INCOME BEFORE INCOME TAXES

1,184

1,255

1,088

Provision for income taxes

(404)

(396)

(335)

NET INCOME

$ 780

$ 859

$ 753

EARNINGS PER SHARE

Earnings per share - basic (in USD per share)

$ 2.68

$ 3.22

$ 2.60

Earnings per share - diluted (in USD per share)

$ 2.64

$ 3.15

$ 2.54

[1]	See Footnote 19 “Related Party Transactions” for disclosure of related party amounts.

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Statement of Comprehensive Income [Abstract]
Net income	$ 780	$ 859	$ 753
Other comprehensive (loss) income:
Foreign currency translation adjustments	(311)	(123)	(41)
Other derivative instrument adjustments, net of tax	1	10	8
Unrealized gain (loss) on available-for-sale securities, net of tax	2	(7)	5
Pension and postretirement adjustments	5	0	0
Reclassification of losses (gains), net of tax	2	(6)	2
Total other comprehensive loss, net of tax	(301)	(126)	(26)
Comprehensive income	$ 479	$ 733	$ 727

CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions

Dec. 31, 2016

Dec. 31, 2015

Current assets

Cash and equivalents

$ 858

$ 96

Accounts and notes receivable, net

^[1]

1,695

1,103

Prepaid expenses

168

Property and equipment, net

^[1]

Assets held for sale

588

Assets, current, total

3,371

1,384

2,335

1,029

Goodwill and intangible assets, net, total

9,270

1,451

Goodwill

7,598

943

16,868

2,394

Equity and cost method investments

^[1]

728

165

Notes receivable, net

245

215

Deferred tax assets

116

672

Other noncurrent assets

^[1]

477

223

Total assets

24,140

6,082

Current liabilities

Current portion of long-term debt

309

300

Accounts payable

^[1]

687

593

Accrued payroll and benefits

1,174

861

Liability for guest loyalty programs

1,866

952

Accrued expenses and other

^[1]

1,111

527

Liabilities, current, total

5,147

3,233

Long-term debt

8,197

3,807

Liability for guest loyalty programs

2,675

1,622

Deferred tax liabilities

^[1]

1,020

Additional paid-in-capital

^[1]

1,744

994

Shareholders’ equity (deficit)

Class A Common Stock

5,808

2,821

Retained earnings

6,501

4,878

Treasury stock, at cost

(6,460)

(11,098)

Accumulated other comprehensive loss

(497)

(196)

Stockholders' deficit

5,357

(3,590)

Liabilities and deficit, total

24,140

6,082

Indefinite-lived Intangible Brand Assets

6,509

197

^[1]

$ 2,761

$ 1,254

[1]	See Footnote 19 “Related Party Transactions” for disclosure of related party amounts.

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2016

Dec. 31, 2015

Dec. 31, 2014

OPERATING ACTIVITIES

Adjustments to reconcile to cash provided by operating activities:

$ 780

$ 859

$ 753

Liability for guest loyalty program

^[1]

168

139

148

Share-based compensation

212

113

109

Income taxes

143

343

233

175

Merger-related charges

113

Working capital changes

(177)

(126)

(120)

Net cash provided by operating activities

1,582

1,430

1,224

INVESTING ACTIVITIES

Acquisition of a business, net of cash acquired

(2,412)

(137)

(184)

Capital expenditures

(199)

(305)

(411)

Dispositions

218

673

435

Loan advances

(32)

(66)

(103)

Loan collections

Contract acquisition costs

(80)

(121)

(65)

Redemption of debt security

121

Net cash (used in) provided by investing activities

110

(19)

(2,409)

367

(313)

FINANCING ACTIVITIES

Commercial paper/Credit Facility, net

1,365

(140)

235

Issuance of long-term debt

1,482

790

394

Repayment of long-term debt

(326)

(325)

(7)

Issuance of Class A Common Stock

178

Dividends paid

(374)

(253)

(223)

(568)

(1,917)

(1,510)

Net cash provided by (used in) financing activities

(24)

1,589

(1,805)

(933)

INCREASE (DECREASE) IN CASH AND EQUIVALENTS

762

(8)

(22)

CASH AND EQUIVALENTS, beginning of period

104

126

CASH AND EQUIVALENTS, end of period

$ 858

$ 96

$ 104

[1]	See Footnote 19 “Related Party Transactions” for disclosure of related party amounts.

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (DEFICIT) - USD ($)
$ in Millions

Total

Class A Common Stock

Additional Paid-in- Capital

Retained Earnings

Treasury Stock, at Cost

Accumulated Other Comprehensive Loss

Beginning balance at Dec. 31, 2013

$ (1,415)

$ 5

$ 2,716

$ 3,837

$ (7,929)

$ (44)

Beginning balance (in shares) at Dec. 31, 2013

298,000,000

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Share-based compensation plans

753

Other comprehensive loss

(26)

Dividends

(223)

211

(81)

206

Share-based compensation plans (in shares)

6,100,000

Purchase of treasury stock (in shares)

(1,500)

(24,200,000)

Ending balance at Dec. 31, 2014

(2,200)

$ 5

2,802

4,286

(9,223)

(70)

Ending balance (in shares) at Dec. 31, 2014

279,900,000

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Share-based compensation plans

859

Other comprehensive loss

(126)

Dividends

(253)

(14)

Share-based compensation plans (in shares)

2,100,000

Purchase of treasury stock (in shares)

(1,940)

(25,700,000)

Ending balance at Dec. 31, 2015

(3,590)

$ 5

2,821

4,878

(11,098)

(196)

Ending balance (in shares) at Dec. 31, 2015

256,300,000

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Share-based compensation plans

780

Other comprehensive loss

(301)

Dividends

(374)

146

110

(21)

Share-based compensation plans (in shares)

1,800,000

Purchase of treasury stock (in shares)

(573)

(8,000,000)

Starwood Combination

^[1]

9,269

2,877

1,238

5,154

Starwood Combination (in shares)

^[1]

136,000,000

Ending balance at Dec. 31, 2016

$ 5,357

$ 5

$ 5,808

$ 6,501

$ (6,460)

$ (497)

Ending balance (in shares) at Dec. 31, 2016

386,100,000

^[2]

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Common stock, authorized (in shares)

800,000,000

Common stock, par value (in USD per share)

$ 0.01

Preferred stock, authorized (in shares)

10,000,000

Preferred stock, outstanding (in shares)

[1]	Represents Marriott common stock and equity-based awards issued in the Starwood Combination, which also resulted in the depletion of our accumulated historical losses on reissuances of treasury stock in Retained Earnings.
[2]	Our restated certificate of incorporation authorizes 800 million shares of our common stock, with a par value of $.01 per share and 10 million shares of preferred stock, without par value. At year-end 2016, we had 386.1 million of these authorized shares of our common stock and no preferred stock outstanding.

BASIS OF PRESENTATION	12 Months Ended
BASIS OF PRESENTATION	Dec. 31, 2016
Accounting Policies [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION The consolidated financial statements present the results of operations, financial position, and cash flows of Marriott International, Inc. (“Marriott,” and together with its consolidated subsidiaries, as “we,” “us,” or “the Company”). In order to make this report easier to read, we also refer throughout to (i) our Consolidated Financial Statements as our “Financial Statements,” (ii) our Consolidated Statements of Income as our “Income Statements,” (iii) our Consolidated Balance Sheets as our “Balance Sheets,” (iv) our properties, brands, or markets in the United States (“U.S.”) and Canada as “North America” or “North American,” and (v) our properties, brands, or markets outside of the United States and Canada as “International.” In addition, references throughout to numbered “Footnotes” refer to the numbered Notes in these Notes to Consolidated Financial Statements, unless otherwise noted. Preparation of financial statements that conform with U.S. generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements, the reported amounts of revenues and expenses during the reporting periods, and the disclosures of contingent liabilities. Accordingly, ultimate results could differ from those estimates. The accompanying Financial Statements reflect all normal and recurring adjustments necessary to present fairly our financial position at fiscal year-end 2016 and fiscal year-end 2015 and the results of our operations and cash flows for fiscal years 2016, 2015, and 2014. We have eliminated all material intercompany transactions and balances between entities consolidated in these Financial Statements. We have made certain reclassifications of our prior year amounts to conform to our current presentation of “Brands” and “Deferred tax liabilities” in our Balance Sheets and “Merger-related costs and charges” in our Income Statements. Acquisition of Starwood Hotels & Resorts Worldwide On September 23, 2016 (the “Merger Date”), we completed the acquisition of Starwood Hotels & Resorts Worldwide, LLC, formerly known as Starwood Hotels & Resorts Worldwide, Inc. (“Starwood”) through a series of transactions (the “Starwood Combination”), after which Starwood became an indirect wholly-owned subsidiary of the Company. Our Financial Statements include Starwood’s results of operations from the Merger Date through year-end 2016 and reflect the financial position of our combined company at December 31, 2016.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2016

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Revenue Recognition

Our revenues include: (1) base management and incentive management fees; (2) franchise fees (including licensing fees from MVW and Vistana of $73 million for 2016, $59 million for 2015, and $60 million for 2014); (3) revenues from lodging properties we own or lease; and (4) cost reimbursements. Management fees are typically composed of a base fee, which is a percentage of the revenues of hotels, and an incentive fee, which is generally based on hotel profitability. Franchise fees are typically composed of initial application fees and continuing royalties generated from our franchise programs, which permit the hotel owners and operators to use certain of our brand names. Cost reimbursements include direct and indirect costs that are reimbursed to us by properties that we manage, franchise, or license.

Base Management and Incentive Management Fees: We recognize base management fees as revenue when we earn them under the contracts. In interim periods and at year-end, we recognize incentive management fees that would be due as if the contracts were to terminate at that date, exclusive of any termination fees payable or receivable by us.

Franchise Fee and License Fee Revenue: We recognize application fees at hotel opening. We recognize ongoing franchise fees and license fees as revenue in each accounting period as we earn those fees from the franchisee or licensee under the contracts.

Owned and Leased Units: We recognize room sales and revenues from other guest services for our owned and leased units when rooms are occupied and when we have rendered the services.

Cost Reimbursements: We recognize cost reimbursements from managed, franchised, and licensed properties when we incur the related reimbursable costs. These costs primarily consist of payroll and related expenses at managed properties where we are the employer and also include certain operational and administrative costs as provided for in our contracts with the owners. As these costs have no added markup, the revenue and related expense have no impact on either our operating or net income.

Other Revenue: Includes other third-party licensing fees, branding fees for third-party residential sales and credit card licensing, and other revenue. We generally recognize other revenue as services are rendered and when collection is reasonably assured. Amounts received in advance are deferred as liabilities.

Real Estate Sales

We reduce gains on sales of real estate by our maximum exposure to loss if we have continuing involvement with the property and do not transfer substantially all of the risks and rewards of ownership. In sales transactions where we retain a management contract, the terms and conditions of the management contract are generally comparable to the terms and conditions of the management contracts obtained directly with third-party owners in competitive bid processes.

Loyalty Programs

Marriott Rewards and The Ritz-Carlton Rewards and Starwood Preferred Guest (SPG) are our frequent guest loyalty programs. Program members earn points based on the money they spend at our hotels; purchases of timeshare interval, fractional ownership, and residential products; and, to a lesser degree, through participation in affiliated partners’ programs, such as those offered by credit card, car rental, and airline companies. Members can redeem points, which we track on their behalf, for stays at most of our hotels, airline tickets, airline frequent flyer program miles, rental cars, and a variety of other awards. Points cannot be redeemed for cash. We provide our Loyalty Programs as cross-brand marketing programs to participating properties, with the objective of operating the programs on a break-even basis. We collect amounts that we expect will, in the aggregate, equal the costs of point redemptions and program operating costs over time.

We defer revenue we receive from managed, franchised, and Marriott-owned/leased hotels and program partners. Our management and franchise agreements require that properties reimburse us currently for the costs of operating the Loyalty Programs, including marketing, promotion, communication with, and performing member services for Loyalty Program members. Due to the requirement that properties reimburse us for program operating costs as incurred, we recognize the related cost reimbursements revenues from properties for our Loyalty Programs when we incur and expense such costs. We also recognize the component of revenue from program partners that corresponds to program maintenance services when we incur and expense such costs. When points are redeemed we recognize the amounts we previously deferred as revenue and the corresponding expense relating to the costs of the awards redeemed.

The recorded liability related to these programs totaled $4,541 million at year-end 2016 compared to $2,574 million at year-end 2015. We estimate the reasonableness and the value of the future redemption obligations using statistical formulas that project timing of future point redemptions based on historical levels, including an estimate of the “breakage” for points that members will never redeem, and an estimate of the points that members will eventually redeem. A ten percent reduction in the estimate of “breakage” would have increased the estimated year-end 2016 liability by $232 million.

Profit Sharing Plan

We contribute to profit sharing plans for the benefit of employees meeting certain eligibility requirements who elect to participate in the plans. Participating employees specify the percentage of salary deferred. We recognized compensation costs from profit sharing of $91 million in 2016, $80 million in 2015, and $76 million in 2014.

Non-U.S. Operations

The U.S. dollar is the functional currency of our consolidated and unconsolidated entities operating in the United States. The functional currency of our consolidated and unconsolidated entities operating outside of the United States is generally the principal currency of the economic environment in which the entity primarily generates and expends cash. We translate the financial statements of consolidated entities whose functional currency is not the U.S. dollar into U.S. dollars, and we do the same, as needed, for unconsolidated entities whose functional currency is not the U.S. dollar. We translate assets and liabilities at the exchange rate in effect as of the financial statement date, and translate income statement accounts using the weighted average exchange rate for the period. We include translation adjustments from currency exchange and the effect of exchange rate changes on intercompany transactions of a long-term investment nature as a separate component of shareholders’ equity. We report gains and losses from currency exchange rate changes for intercompany receivables and payables that are not of a long-term investment nature, as well as gains and losses from non-U.S. currency transactions, currently in operating costs and expenses, and those amounted to losses of $4 million in 2016, $6 million in 2015, and $16 million in 2014.

Share-Based Compensation

We grant share-based compensation awards at exercise prices or strike prices that equal the market price of our common stock on the date of grant. For all share-based awards, we measure compensation costs for our share-based payment transactions at fair value on the grant date, and we recognize those costs in our Financial Statements over the vesting period during which the employee provides service (“the service period”) in exchange for the award, which consists primarily of RSUs and SARs.

For SARs, on the grant date, we use a binomial lattice-based valuation model to estimate the fair value of each stock appreciation right granted. This valuation model uses a range of possible stock price outcomes over the term of the award, discounted back to a present value using a risk-free rate. Because of the limitations with closed-form valuation models, such as the Black-Scholes model, we have determined that this more flexible binomial model provides a better estimate of the fair value of our stock appreciation rights because it takes into account employee and non-employee director exercise behavior based on changes in the price of our stock and also allows us to use other dynamic assumptions. See Footnote 6 “Share-Based Compensation” for further information.

Income Taxes

We record the amounts of taxes payable or refundable for the current year, as well as deferred tax liabilities and assets for the future tax consequences of events we have recognized in our Financial Statements or tax returns, using judgment in assessing future profitability and the likely future tax consequences of those events. We base our estimates of deferred tax assets and liabilities on current tax laws, rates and interpretations, and, in certain cases, business plans and other expectations about future outcomes. We develop our estimates of future profitability based on our historical data and experience, industry projections, micro and macro general economic condition projections, and our expectations.

Changes in existing tax laws and rates, their related interpretations, and the uncertainty generated by the current economic environment may affect the amounts of our deferred tax liabilities or the valuations of our deferred tax assets over time. Our accounting for deferred tax consequences represents management’s best estimate of future events that can be appropriately reflected in the accounting estimates.

For tax positions we have taken or expect to take in a tax return, we apply a more likely than not threshold, under which we must conclude a tax position is more likely than not to be sustained, assuming that the position will be examined by the appropriate taxing authority that has full knowledge of all relevant information, in order to continue to recognize the benefit. In determining our provision for income taxes, we use judgment, reflecting our estimates and assumptions, in applying the more likely than not threshold. We recognize accrued interest and penalties for our unrecognized tax benefits as a component of tax expense. See Footnote 7 “Income Taxes” for further information.

Cash and Equivalents

We consider all highly liquid investments with an initial maturity of three months or less at date of purchase to be cash equivalents.

Accounts Receivable

Our accounts receivable primarily consist of amounts due from hotel owners with whom we have management and franchise agreements and include reimbursements of costs we incurred on behalf of managed and franchised properties. We generally collect these receivables within 30 days. We record an accounts receivable reserve when losses are probable, based on an assessment of historical collection activity and current business conditions. Our accounts receivable reserve was $20 million at year-end 2016 and $25 million at year-end 2015.

Assets Held for Sale

We consider properties to be assets held for sale when (1) management commits to a plan to sell the property; (2) it is unlikely that the disposal plan will be significantly modified or discontinued; (3) the property is available for immediate sale in its present condition; (4) actions required to complete the sale of the property have been initiated; (5) sale of the property is probable and we expect the completed sale will occur within one year; and (6) the property is actively being marketed for sale at a price that is reasonable given our estimate of current market value. Upon designation of a property as an asset held for sale, we record the property’s value at the lower of its carrying value or its estimated fair value, less estimated costs to sell, and we cease depreciation. See Footnote 3 “Acquisitions and Dispositions” for additional information on planned dispositions.

Goodwill

We assess goodwill for potential impairment at the end of each fiscal year, or during the year if an event or other circumstance indicates that we may not be able to recover the carrying amount of the net assets of the reporting unit. In evaluating goodwill for impairment, we may first assess qualitative factors to determine whether it is more likely than not (that is, a likelihood of more than 50 percent) that the fair value of a reporting unit is less than its carrying amount. Qualitative factors that we consider include, for example, macroeconomic and industry conditions, overall financial performance, and other relevant entity-specific events. If we bypass the qualitative assessment, or if we conclude that it is more likely than not that the fair value of a reporting unit is less than its carrying value, then we perform a two-step goodwill impairment test to identify potential goodwill impairment and measure the amount of goodwill impairment we will recognize, if any.

In the first step of the two-step goodwill impairment test, we compare the estimated fair value of the reporting unit with its carrying value. If the estimated fair value of the reporting unit exceeds its carrying amount, no further analysis is needed. If, however, the estimated fair value of the reporting unit is less than its carrying amount, we proceed to the second step and calculate the implied fair value of the reporting unit goodwill to determine whether any impairment is required. We calculate the implied fair value of the reporting unit goodwill by allocating the estimated fair value of the reporting unit to all of the unit’s assets and liabilities as if the unit had been acquired in a business combination. If the carrying value of the reporting unit’s goodwill exceeds the implied fair value of the goodwill, we recognize an impairment loss in the amount of that excess. In allocating the estimated fair value of the reporting unit to all of the assets and liabilities of the reporting unit, we use industry and market data, as well as knowledge of the industry and our past experience.

We calculate the estimated fair value of a reporting unit using a weighting of the income and market approaches. For the income approach, we use internally developed discounted cash flow models that include the following assumptions, among others: projections of revenues, expenses, and related cash flows based on assumed long-term growth rates and demand trends; expected future investments to grow new units; and estimated discount rates. For the market approach, we use internal analyses based primarily on market comparables. We base these assumptions on our historical data and experience, third-party appraisals, industry projections, micro and macro general economic condition projections, and our expectations.

We have had no goodwill impairment charges for the last three fiscal years.

Intangibles and Long-Lived Assets

We assess indefinite-lived intangible assets for potential impairment and continued indefinite use at the end of each fiscal year, or during the year if an event or other circumstance indicates that we may not be able to recover the carrying amount of the asset. Similar to goodwill, we may first assess qualitative factors to determine whether it is more likely than not that the fair value of the indefinite-lived intangible is less than its carrying amount. If the carrying value of the asset exceeds the fair value, we recognize an impairment loss in the amount of that excess.

We test definite-lived intangibles and long-lived asset groups for recoverability when changes in circumstances indicate that we may not be able to recover the carrying value; for example, when there are material adverse changes in projected revenues or expenses, significant underperformance relative to historical or projected operating results, or significant negative industry or economic trends. We also test recoverability when management has committed to a plan to sell or otherwise dispose of an asset group and we expect to complete the plan within a year. We evaluate recoverability of an asset group by comparing its carrying value to the future net undiscounted cash flows that we expect the asset group will generate. If the comparison indicates that we will not be able to recover the carrying value of an asset group, we recognize an impairment loss for the amount by which the carrying value exceeds the estimated fair value. When we recognize an impairment loss for assets to be held and used, we depreciate the adjusted carrying amount of those assets over their remaining useful life.

We calculate the estimated fair value of an intangible asset or asset group using the income approach or the market approach. We utilize the same assumptions and methodology for the income approach that we describe in the “Goodwill” caption. For the market approach, we use internal analyses based primarily on market comparables and assumptions about market capitalization rates, growth rates, and inflation.

Investments

We may hold an equity interest in ventures established to develop or acquire and own hotel properties. These ventures are generally limited liability companies or limited partnerships. We account for investments in such entities using the cost method of accounting when we hold an interest so minor that we have virtually no influence over the operating and financial policies of the investee and the equity method of accounting when we hold an interest more than so minor that it allows us to have influence, but not control, over the operating and financial policies of the investee. We account for investments in other ventures using the equity method of accounting when we exercise significant influence over the entities. If we do not exercise significant influence, we account for the investment using the cost method of accounting. We consolidate entities that we control.

Under the accounting guidance for the consolidation of variable interest entities, we analyze our variable interests, including equity investments, loans, and guarantees, to determine if an entity in which we have a variable interest is a variable interest entity. Our analysis includes both quantitative and qualitative reviews. We base our quantitative analysis on the forecasted cash flows of the entity, and our qualitative analysis on our review of the design of the entity, its organizational structure including decision-making ability, and relevant financial agreements. We also use our qualitative analysis to determine if we must consolidate a variable interest entity as its primary beneficiary.

We evaluate an investment for impairment when circumstances indicate that we may not be able to recover the carrying value. For example, when evaluating our ventures, we consider loan defaults, significant underperformance relative to historical or projected operating performance, or significant negative industry or economic trends.

We impair investments we account for using the equity and cost methods of accounting when we determine that there has been an “other-than-temporary” decline in the venture’s estimated fair value compared to its carrying value. Additionally, a venture’s commitment to a plan to sell some or all of its assets could cause us to evaluate the recoverability of the venture’s individual long-lived assets and possibly the venture itself.

We calculate the estimated fair value of an investment using either a market approach or an income approach. We utilize the same assumptions and methodology for the income approach that we describe in the “Goodwill” caption. For the market approach, we use internal analyses based primarily on market comparables and assumptions about market capitalization rates, growth rates, and inflation.

For investments in securities classified as available-for-sale, we determine the cost basis of the securities sold using specific identification, meaning that we track our securities individually.

Fair Value Measurements

We have various financial instruments we must measure at fair value on a recurring basis, including certain marketable securities and derivatives. See Footnote 16 “Fair Value of Financial Instruments” for further information. We also apply the provisions of fair value measurement to various nonrecurring measurements for our financial and nonfinancial assets and liabilities.

Accounting standards define fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (an exit price). We measure our assets and liabilities using inputs from the following three levels of the fair value hierarchy:

Level 1 inputs are unadjusted quoted prices in active markets for identical assets or liabilities that we have the ability to access at the measurement date.

Level 2 inputs include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (i.e., interest rates, yield curves, etc.), and inputs that are derived principally from or corroborated by observable market data by correlation or other means (market corroborated inputs).

Level 3 includes unobservable inputs that reflect our assumptions about what factors market participants would use in pricing the asset or liability. We develop these inputs based on the best information available, including our own data.

Derivative Instruments

We record derivatives at fair value. The designation of a derivative instrument as a hedge and its ability to meet the hedge accounting criteria determine how we reflect the change in fair value of the derivative instrument in our Financial Statements. A derivative qualifies for hedge accounting if, at inception, we expect the derivative will be highly effective in offsetting the underlying hedged cash flows or fair value and we fulfill the hedge documentation standards at the time we enter into the derivative contract. We designate a hedge as a cash flow hedge, fair value hedge, or a net investment in non-U.S. operations hedge based on the exposure we are hedging. For the effective portion of qualifying cash flow hedges, we record changes in fair value in other comprehensive income (“OCI”). We release the derivative’s gain or loss from OCI to match the timing of the underlying hedged items’ effect on earnings.

We review the effectiveness of our hedging instruments quarterly, recognize current period hedge ineffectiveness immediately in earnings, and discontinue hedge accounting for any hedge that we no longer consider to be highly effective. We recognize changes in fair value for derivatives not designated as hedges or those not qualifying for hedge accounting in current period earnings. Upon termination of cash flow hedges, we release gains and losses from OCI based on the timing of the underlying cash flows or revenue recognized, unless the termination results from the failure of the intended transaction to occur in the expected time frame. Such untimely transactions require us to immediately recognize in earnings the gains and/or losses that we previously recorded in OCI.

Changes in interest rates, currency exchange rates, and equity securities expose us to market risk. We manage our exposure to these risks by monitoring available financing alternatives, as well as through development and application of credit granting policies. We also use derivative instruments, including cash flow hedges, net investment in non-U.S. operations hedges, fair value hedges, and other derivative instruments, as part of our overall strategy to manage our exposure to market risks. As a matter of policy, we only enter into transactions that we believe will be highly effective at offsetting the underlying risk, and we do not use derivatives for trading or speculative purposes.

Loan Loss Reserves

We may make senior, mezzanine, and other loans to owners of hotels that we operate or franchise, generally to facilitate the development of a hotel and sometimes to facilitate brand programs or initiatives. We expect the owners to repay the loans in accordance with the loan agreements, or earlier as the hotels mature and capital markets permit. We use metrics such as loan-to-value ratios and debt service coverage, and other information about collateral and from third party rating agencies to assess the credit quality of the loan receivable, both upon entering into the loan agreement and on an ongoing basis as applicable.

On a regular basis, we individually assess loans for impairment. We use internally generated cash flow projections to determine if we expect the loans to be repaid under the terms of the loan agreements. If we conclude that it is probable a borrower will not repay a loan in accordance with its terms, we consider the loan impaired and begin recognizing interest income on a cash basis. To measure impairment, we calculate the present value of expected future cash flows discounted at the loan’s original effective interest rate or the estimated fair value of the collateral. If the present value or the estimated collateral is less than the carrying value of the loan receivable, we establish a specific impairment reserve for the difference.

If it is likely that a loan will not be collected based on financial or other business indicators, including our historical experience, our policy is to charge off the loan in the quarter in which we deem it uncollectible.

Guarantees

We measure and record our liability for the fair value of a guarantee on a nonrecurring basis, that is when we issue or modify a guarantee, using Level 3 internally developed inputs, as described above in this footnote under the heading “Fair Value Measurements.” We base our calculation of the estimated fair value of a guarantee on the income approach or the market approach, depending on the type of guarantee. For the income approach, we use internally developed discounted cash flow and Monte Carlo simulation models that include the following assumptions, among others: projections of revenues and expenses and related cash flows based on assumed growth rates and demand trends; historical volatility of projected performance; the guaranteed obligations; and applicable discount rates. We base these assumptions on our historical data and experience, industry projections, micro and macro general economic condition projections, and our expectations. For the market approach, we use internal analyses based primarily on market comparable data and our assumptions about market capitalization rates, credit spreads, growth rates, and inflation.

The offsetting entry for the guarantee liability depends on the circumstances in which the guarantee was issued. Funding under the guarantee reduces the recorded liability. In most cases, when we do not forecast any funding, we amortize the liability into income on a straight-line basis over the remaining term of the guarantee. On a quarterly basis, we evaluate all material estimated liabilities based on the operating results and the terms of the guarantee. If we conclude that it is probable that we will be required to fund a greater amount than previously estimated, we record a loss except to the extent that the applicable contracts provide that the advance can be recovered as a loan.

Self-Insurance Programs

We self-insure for certain levels of property, liability, workers’ compensation, and employee medical coverage. We accrue estimated costs of these self-insurance programs at the present value of projected settlements for known and incurred but not reported claims. We use a discount rate of two percent to determine the present value of the projected settlements, which we consider to be reasonable given our history of settled claims, including payment patterns and the fixed nature of the individual settlements.

Legal Contingencies

We are subject to various legal proceedings and claims, the outcomes of which are uncertain. We record an accrual for legal contingencies when we determine that it is probable that we have incurred a liability and we can reasonably estimate the amount of the loss. In making such determinations we evaluate, among other things, the probability of an unfavorable outcome and, when we believe it probable that a liability has been incurred, our ability to make a reasonable estimate of the loss. We review these accruals each reporting period and make revisions based on changes in facts and circumstances.

Business Combinations

We allocate the purchase price of an acquisition to the tangible and intangible assets acquired and liabilities assumed based on their estimated fair values at the acquisition date. We recognize as goodwill the amount by which the purchase price of an acquired entity exceeds the net of the fair values assigned to the assets acquired and liabilities assumed. In determining the fair values of assets acquired and liabilities assumed, we use various recognized valuation methods including the income and market approaches. Further, we make assumptions within certain valuation techniques, including discount rates, royalty rates, and the amount and timing of future cash flows. We record the net assets and results of operations of an acquired entity in our Financial Statements from the acquisition date. We initially perform these valuations based upon preliminary estimates and assumptions by management or independent valuation specialists under our supervision, where appropriate, and make revisions as estimates and assumptions are finalized. We expense acquisition-related costs as incurred. See Footnote 3 “Acquisitions and Dispositions” for additional information.

New Accounting Standards

Accounting Standards Update No. 2014-09 - “Revenue from Contracts with Customers” (“ASU No. 2014-09”)

ASU No. 2014-09 supersedes the revenue recognition requirements in Topic 605, Revenue Recognition, as well as most industry-specific guidance, and significantly enhances comparability of revenue recognition practices across entities and industries by providing a principles-based, comprehensive framework for addressing revenue recognition issues. In order for a provider of promised goods or services to recognize as revenue the consideration that it expects to receive in exchange for the promised goods or services, the provider should apply the following five steps: (1) identify the contract with a customer(s); (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when (or as) the entity satisfies a performance obligation. ASU No. 2014-09 also specifies the accounting for some costs to obtain or fulfill a contract with a customer and provides enhanced disclosure requirements. The Financial Accounting Standards Board (“FASB”) has deferred ASU No. 2014-09 for one year, and with that deferral, the standard will be effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period, which for us will be our 2018 first quarter. We are permitted to use either the retrospective or the modified retrospective method when adopting ASU No. 2014-09, and we are evaluating the available adoption methods. We are still assessing the potential impact that ASU No. 2014-09 will have on our financial statements and disclosures, but we believe that there likely will be changes to our revenue recognition policies in the following areas:


•	We will recognize franchise application fees over the term of the franchise contract rather than at hotel opening.


•	We will recognize incentive management fees once the uncertainty related to these variable fees has been alleviated, which will likely result in recognizing these fees later in the year than we do currently.


•	We believe that the timing of recognition for profits from the sale of real estate assets will change, resulting from the removal of the real estate specific guidance.

Accounting Standards Update No. 2015-16 - “Simplifying the Accounting for Measurement-Period Adjustments” (“ASU No. 2015-16”)

In September 2015, the FASB issued ASU No. 2015-16, which eliminates the requirement to restate prior period financial statements for measurement period adjustments. Instead, adjustments to provisional amounts that are identified during the measurement period of a business combination are recognized in the period in which the adjustments are determined. We adopted the standard in 2016. See Footnote 3 “Acquisitions and Dispositions” for measurement period adjustments related to the Starwood Combination.

Accounting Standards Update No. 2016-02 - “Leases” (“ASU No. 2016-02”)

In February 2016, the FASB issued ASU No. 2016-02, which introduces a lessee model that brings substantially all leases onto the balance sheet. Under the new standard, a lessee will recognize on its balance sheet a lease liability and a right-of-use asset for all leases, including operating leases, with a term greater than 12 months. The new standard will also distinguish leases as either finance leases or operating leases. This distinction will affect how leases are measured and presented in the income statement and statement of cash flows. ASU No. 2016-02 is effective for annual and interim periods in fiscal years beginning after December 15, 2018. We are still assessing the potential impact that ASU No. 2016-02 will have on our financial statements and disclosures.

Accounting Standards Update No. 2016-09 - “Stock Compensation” (“ASU No. 2016-09”)

In March 2016, the FASB issued ASU No. 2016-09, which involves several aspects of the accounting for share-based payments. The new guidance will require recording of excess tax benefits as income tax expense (or benefit) in the income statement. Currently, excess tax benefits are recorded in additional paid-in-capital in the balance sheet. In the statement of cash flows, the new guidance requires that excess tax benefits be presented as operating inflows and employee tax withholdings as financing outflows. ASU No. 2016-09 is effective for annual and interim periods beginning after December 15, 2016. We are still assessing the potential impact that ASU No. 2016-09 will have on our financial statements and disclosures, but we believe that in 2017 it may result in a decrease of approximately $41 million to our provision for income taxes, an increase of approximately $0.10 to diluted earnings per share, an increase to our operating cash inflows, and an increase to our financing cash outflows.

Accounting Standards Update No. 2017-01 - “Clarifying the Definition of a Business” (“ASU No. 2017-01”)

In January 2017, the FASB issued ASU No. 2017-01, clarifying the definition of a business to help companies evaluate whether transactions should be accounted for as acquisitions or disposals of assets or businesses. ASU No. 2017-01 is effective for annual and interim periods beginning after December 15, 2017. We are still assessing the potential impact that ASU No. 2017-01 will have on our financial statements and disclosures.

ACQUISITIONS AND DISPOSITIONS

12 Months Ended

Dec. 31, 2016

Business Combinations [Abstract]

ACQUISITIONS AND DISPOSITIONS

2016 Acquisitions

We completed the Starwood Combination on September 23, 2016 (the “Merger Date”). Before the combination, Starwood was a leading hospitality company and a competitor of ours. The combination of our brands creates a more comprehensive portfolio, enhances our global market distribution, and provides opportunities for cost efficiencies. Our combined company now operates or franchises over 6,000 properties with nearly 1.2 million rooms, representing 30 leading brands from the moderate-tier to luxury in 122 countries and territories.

Shareholders of Starwood received 0.80 shares of our Class A Common Stock and $21.00 in cash for each share of Starwood common stock. The following table presents the fair value of each class of consideration that we transferred.



(in millions, except per share amounts)
Equivalent shares of Marriott common stock issued in exchange for Starwood outstanding shares	134.4
Marriott common stock price as of Merger Date	$	68.44
Fair value of Marriott common stock issued in exchange for Starwood outstanding shares	9,198
Cash consideration to Starwood shareholders, net of cash acquired of $1,116	2,412
Fair value of Marriott equity-based awards issued in exchange for vested Starwood equity-based awards	71
Total consideration transferred, net of cash acquired	$	11,681

Preliminary Fair Values of Assets Acquired and Liabilities Assumed. Our preliminary estimates of fair values of the assets that we acquired and the liabilities that we assumed are based on information that was available as of the Merger Date, and we are continuing to evaluate the underlying inputs and assumptions used in our valuations. Accordingly, these preliminary estimates are subject to change during the measurement period, which is up to one year from the Merger Date. During the 2016 fourth quarter, we refined our valuation models to reflect changes in assumptions related to contractual terms (such as territorial provisions and royalty rates), operating margins, discount rates, tax rates, and growth rates.

The following table presents our preliminary estimates of fair values of the assets that we acquired and the liabilities that we assumed on the Merger Date, as previously reported at the end of the 2016 third quarter and as of year-end 2016.



($ in millions)	September 23, 2016 (as previously reported)			Adjustments			September 23, 2016 (as adjusted)
Working capital	$	(115	)	$	(65	)	$	(180	)
Property and equipment, including assets held for sale	2,045			(46		)	1,999
Identified intangible assets	8,573			(616		)	7,957
Equity and cost method investments	648			(69		)	579
Other noncurrent assets	207			17			224
Deferred income taxes, net	(1,845		)	329			(1,516		)
Guest loyalty program	(1,647		)	16			(1,631		)
Debt	(1,876		)	5			(1,871		)
Other noncurrent liabilities	(518		)	(136		)	(654		)
Net assets acquired	5,472			(565		)	4,907
Goodwill ⁽¹⁾	6,226			548			6,774
	$	11,698		$	(17	)	$	11,681


(1)	Goodwill primarily represents the value that we expect to obtain from synergies and growth opportunities from our combined operations, and it is not deductible for tax purposes. See Footnote 13 “Intangible Assets and Goodwill” for our preliminary assignment of goodwill by reportable segment.

Property and Equipment. We acquired property and equipment, which primarily consisted of 15 owned hotels. We provisionally estimated the value of the land, building, and furniture and equipment associated with the hotels using a combination of the income, cost, and market approaches, which are primarily based on significant Level 2 and Level 3 assumptions, such as estimates of future income growth, capitalization rates, discount rates, and capital expenditure needs of the hotels. We are continuing to assess the marketplace assumptions and property conditions, which could result in changes to these provisional values.

Identified Intangible Assets. The following table presents our preliminary estimates of the fair values of Starwood’s identified intangible assets and their related estimated useful lives.



	Estimated Fair Value (in millions)		Estimated Useful Life (in years)
Brands	$	6,452	indefinite
Management Agreements and Lease Contract Intangibles	712		10-25
Franchise Agreements	744		10-80
Loyalty Program Marketing Rights	49		30
	$	7,957

We provisionally estimated the value of Starwood’s brands using the relief-from-royalty method, which applies an estimated royalty rate to forecasted future cash flows, discounted to present value. We estimated the value of management and franchise agreements using the multi-period excess earnings method, which is a variation of the income approach. This method estimates an intangible asset’s value based on the present value of the incremental after-tax cash flows attributable to the intangible asset. We valued the lease agreements and leasehold interests using an income approach. These valuation approaches utilize Level 3 inputs, and we continue to review Starwood’s contracts and historical performance in addition to evaluating the inputs, including the discount rates and growth assumptions, which could result in changes to these provisional values.

Franchise agreements include an exclusive, 80-year global license agreement with Vistana, Starwood’s former vacation ownership business that is now part of ILG, for the exclusive use of the Westin and Sheraton brands in vacation ownership. In addition, the same agreement provides ILG with a non-exclusive license for St. Regis and The Luxury Collection vacation ownership properties existing on the Merger Date. Under this agreement, we receive a fixed annual license fee, adjusted for inflation, of $30 million plus certain variable fees based on sales volumes.

Equity Method Investments. We provisionally estimated the value of the investees’ real estate using the same methods as for property and equipment described above. We continue to review the terms of the partnership and joint venture agreements, assess the conditions of the properties, and evaluate the discount rates, any discounts for lack of marketability and control as appropriate, and growth assumptions used in valuing these investments, which could result in changes to our provisional values.

Deferred Income Taxes. Deferred income taxes primarily relate to the fair value adjustments of the assets and liabilities that we acquired from Starwood, including property and equipment, intangible assets, equity method investments, and long-term debt. We provisionally estimated deferred income taxes based on statutory tax rates in the jurisdictions of the legal entities where the acquired noncurrent assets and liabilities are taxed. We continue to assess the tax rates used, and we will update our estimate of deferred income taxes based on any changes to our provisional valuations of the related assets and liabilities and refinement of the effective tax rates, which could result in changes to these provisional values.

Guest Loyalty Program. The SPG program is Starwood’s frequent traveler, customer loyalty, and multi-brand marketing program. We are reviewing the assumptions utilized in an actuarial valuation of the future redemption obligations, which could result in changes to the provisional value of the program liability.

Debt, Leases, and Other Contractual Obligations or Contingencies. We primarily valued debt using quoted market prices, which are considered Level 1 inputs as they are observable in the market. For more information, see Footnote 11 “Long-Term Debt.”

Most of the leases we acquired have initial terms of up to 20 years, contain one or more renewals at our option, generally for five- or 10-year periods, and generally contain fixed and variable components. The variable components of leases of land or building facilities are primarily based on operating performance of the leased property.

We identified certain onerous provisions within a few of the acquired management agreements. We valued liabilities associated with these provisions using an income approach and Level 3 inputs, including cash flows, discount rates, and growth assumptions. We continue to review and evaluate Starwood’s agreements, historical performance, discount rates, and growth assumptions, which could result in changes to these provisional values.

In connection with the Starwood Combination, we are currently assessing various regulatory compliance matters at several foreign Legacy-Starwood locations, including compliance with the U.S. Foreign Corrupt Practices Act. The results of this assessment may give rise to contingencies that could require us to record balance sheet liabilities or accrue expenses. While any such amounts are not currently estimable, we will review our provisional assessment of these contingencies as we gather more information.

Pro Forma Results of Operations. The following unaudited pro forma information presents the combined results of operations of Marriott and Starwood as if we had completed the Starwood Combination on January 1, 2015, but using our preliminary fair values of assets and liabilities as of the Merger Date. As required by GAAP, these unaudited pro forma results do not reflect any cost saving synergies from operating efficiencies. Accordingly, we present these unaudited pro forma results for informational purposes only, and they are not necessarily indicative of what the actual results of operations of the combined company would have been if the Starwood Combination had occurred at the beginning of the period presented, nor are they indicative of future results of operations.



($ in millions)	2016		2015
Pro forma revenues	$	20,494	$	19,280
Pro forma net income	$	1,151	$	941

The unaudited pro forma results include $113 million of integration costs for 2016 and $397 million of transaction and employee termination costs for 2015.

Starwood Results of Operations. The following table presents the results of Starwood operations included in our Income Statements from the Merger Date through year-end 2016.



($ in millions)	September 23, 2016 - December 31, 2016
Revenue	$	1,906
Net loss	$	(39	)

2016 Dispositions and Planned Dispositions as of Year-End 2016

In the 2016 fourth quarter, we sold a North American Full-Service property, which we had acquired in the Starwood Combination, and received $165 million in cash. In the 2016 second quarter, we sold a North American Limited-Service segment plot of land and received $46 million in cash. We had previously classified these assets as “Assets held for sale.”

At year-end 2016, we held $588 million of assets classified as “Assets held for sale” and $26 million of liabilities recorded under “Accrued expenses and other” on our Balance Sheets, related to two hotels that we acquired through the Starwood Combination and the remaining Miami Beach EDITION residences.

2015 Acquisitions

In the 2015 second quarter, we acquired the Delta Hotels brand, management and franchise business, together with related intellectual property for approximately $134 million (C$170 million), plus $2 million (C$2 million) of working capital, for a total purchase price of $136 million (C$172 million) in cash. We finalized the purchase accounting during the 2015 third quarter and recognized approximately: $127 million (C$161 million) in intangible assets consisting of contract assets of $17 million (C$22 million), an indefinite-lived brand intangible of $91 million (C$115 million), and goodwill of $19 million (C$24 million); and $9 million (C$11 million) of tangible assets consisting of property and equipment and other assets. As a result of the transaction, we added 37 open hotels and resorts with 9,590 rooms across Canada, including 27 properties under management agreements and 10 properties under franchise agreements, plus five hotels under development.

2015 Dispositions and Planned Dispositions as of Year-End 2015

We sold The Miami Beach EDITION during the 2015 first quarter, and we sold The New York (Madison Square Park) EDITION at the beginning of the 2015 second quarter. We received total cash proceeds of $566 million in 2015. In the 2015 first quarter, we recorded a $6 million impairment charge for The New York (Madison Square Park) EDITION in the “Depreciation, amortization, and other” caption of our Income Statements as our cost estimates exceeded our total fixed sales price. We did not allocate the charge to any of our segments.

In the 2015 first quarter, we sold our interest in an International property and received $27 million (€24 million) in cash.

In the 2015 third quarter, our equity method investment in an entity that owns two hotels was redeemed. We received $42 million in cash, which was our basis in the investment, and included the proceeds in the “Other” caption of our Investing Activities section of our Consolidated Statements of Cash Flows.

In the 2015 fourth quarter, we sold an International property and received $62 million in cash. We recorded a loss of $11 million in the “Gains and other income, net” caption of our Income Statements.

At year-end 2015, we held $78 million of assets classified as “Assets held for sale” and $3 million of liabilities associated with those assets, which we recorded under “Accrued expenses and other” on our Balance Sheets. We determined that the carrying values of those assets exceeded their fair values, which we estimated using a market approach and Level 3 inputs. Consequently, we recorded charges for the expected disposal loss, which represents the amount by which the carrying values, including any goodwill we must allocate, exceeds the fair values, less our anticipated cost to sell. We classified assets as held for sale and associated liabilities that relate to the following:


•	$47 million in assets and $1 million in liabilities for a North American Limited-Service segment plot of land. During the 2015 second quarter, we determined that achieving certain milestones outlined in a signed purchase and sale agreement was likely, and we recorded a $4 million expected loss in the “Gains and other income, net” caption of our Income Statements.

•

$31 million in assets and $2 million in liabilities for The Miami Beach EDITION residences (the “residences”). During the 2015 first quarter, we recorded a $6 million charge, which we did not allocate to any of our segments, following a review of comparable property values. We classified the residences charge in the “Depreciation, amortization, and other” caption of our Income Statements because it was part of a larger mixed-use project for which we had recorded similar charges in prior periods. During 2015, we sold five residences and received $20 million in cash.

EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2016

Earnings Per Share [Abstract]

Earnings Per Share

EARNINGS PER SHARE

The table below illustrates the reconciliation of the earnings and number of shares used in our calculations of basic and diluted earnings per share:



(in millions, except per share amounts)	2016		2015		2014
Computation of Basic Earnings Per Share
Net income	$	780	$	859	$	753
Shares for basic earnings per share	290.9		267.3		289.9
Basic earnings per share	$	2.68	$	3.22	$	2.60
Computation of Diluted Earnings Per Share
Net income	$	780	$	859	$	753
Shares for basic earnings per share	290.9		267.3		289.9
Effect of dilutive securities
Share-based compensation	4.8		5.5		6.9
Shares for diluted earnings per share	295.7		272.8		296.8
Diluted earnings per share	$	2.64	$	3.15	$	2.54

We compute the effect of dilutive securities using the treasury stock method and average market prices during the period. We excluded the following antidilutive stock options and stock appreciation rights in our calculation of diluted earnings per share because their exercise prices were greater than the average market prices for the applicable periods: 0.3 million for 2016, 0.2 million for 2015, and zero for 2014.

MERGER-RELATED COSTS AND CHARGES

12 Months Ended

Dec. 31, 2016

Restructuring and Related Activities [Abstract]

MERGER-RELATED COSTS AND CHARGES

The following table presents pre-tax merger-related costs and other charges that we incurred in connection with the Starwood Combination.



($ in millions)	2016		2015
Merger-related costs and charges
Transaction costs	$	53	$	—
Employee termination costs	241		—
Integration costs	92		—
	386		—
Interest expense	22		—
	$	408	$	—

Transaction costs represent costs related to the planning and execution of the Starwood Combination, primarily for financial advisory, legal, and other professional service fees. Employee termination costs represent employee severance, retention, and other termination benefits. Integration costs primarily represent integration employee salaries and share-based compensation, change management and legal consultants, and technology-related costs. Merger-related interest expense reflects costs that we incurred for a bridge term loan facility commitment and incremental interest expense for debt incurred before the Merger Date related to the Starwood Combination.

In connection with the Starwood Combination, we initiated a restructuring program to achieve cost synergies from our combined operations. We did not allocate costs associated with our restructuring program to any of our business segments. The following table presents our restructuring reserve activity during 2016:



($ in millions)	Employee termination costs
Balance at year-end 2015	$	—
Charges	283
Cash payments	(64		)
Adjustments ⁽¹⁾	(27		)
Balance at year-end 2016, classified in “Accrued expenses and other”	$	192


⁽¹⁾	Adjustments primarily reflect the reversal of charges for certain employees who accepted other positions at the Company or resigned and the impact of cumulative translation adjustments.

SHARE-BASED COMPENSATION

12 Months Ended

Dec. 31, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

SHARE-BASED COMPENSATION

Under our Stock and Cash Incentive Plan (the “Stock Plan”), we award: (1) stock options (our “Stock Option Program”) to purchase our Class A Common Stock (“common stock”); (2) stock appreciation rights (“SARs”) for our common stock (our “SAR Program”); (3) restricted stock units (“RSUs”) of our common stock; and (4) deferred stock units. We also issue performance-based RSUs (“PSUs”) to named executive officers and some of their direct reports under the Stock Plan. We grant awards at exercise prices or strike prices that equal the market price of our common stock on the date of grant.

In the Starwood Combination, we assumed Starwood’s 2013 Long-Term Incentive Compensation Plan (“Starwood LTIP”) and equity awards outstanding under the Starwood LTIP and other Starwood equity plans. On the Merger Date, we converted outstanding Starwood equity awards to equity awards for Marriott common stock. Those awards generally vest over three years in equal annual installments, subject to a prorated adjustment for employees who are terminated under certain circumstances or who retire or vest immediately upon a qualifying termination of employment following a change in control of Starwood to the extent set forth in the award agreements.

We recorded share-based compensation expense of $212 million in 2016, $113 million in 2015, and $109 million in 2014. Deferred compensation costs for unvested awards totaled $192 million at year-end 2016 (including $42 million related to awards assumed in the Starwood Combination) and $116 million at year-end 2015. As of year-end 2016, we expect to recognize these deferred compensation expenses over a weighted average period of two years.

We present the tax benefits and costs resulting from the exercise or vesting of share-based awards as financing cash flows. The exercise of share-based awards resulted in tax benefits of $32 million in 2016, $34 million in 2015, and $92 million in 2014.

We received cash from the exercise of stock options of $2 million in 2016, $6 million in 2015, and $86 million in 2014.

RSUs and PSUs

We granted 2.8 million RSUs in 2016 to certain officers, key employees, and non-employee directors, and those units vest generally over four years in equal annual installments commencing one year after the grant date. We recognize compensation expense for RSUs over the service period equal to the fair market value of the stock units on the date of issuance. Upon vesting, RSUs convert to shares of our common stock which we distribute from treasury shares. We granted 0.2 million PSUs in 2016 to certain executive officers, subject to continued employment and the satisfaction of certain performance conditions based on achievement of pre-established targets for Adjusted EBITDA, RevPAR Index, room openings, and/or net administrative expense over, or at the end of, a three-year performance period. We also granted 0.5 million PSUs in 2016 to certain senior leaders and members of the Company’s integration team that, subject to continued employment, vest based upon achievement of pre-established targets related to the Starwood Combination over, or at the end of, a three-year performance period.

We had deferred compensation costs for RSUs of approximately $188 million at year-end 2016 and $112 million at year-end 2015. The weighted average remaining term for RSU grants outstanding at year-end 2016 was two years.

The following table provides additional information on RSUs for the last three fiscal years:



	2016		2015		2014
Share-based compensation expense (in millions)	$	204	$	103	$	98
Weighted average grant-date fair value (per RSU)	$	66	$	78	$	52
Aggregate intrinsic value of distributed RSUs (in millions)	$	190	$	195	$	144

The following table presents the changes in our outstanding RSU grants during 2016 and the associated weighted average grant-date fair values:



	Number of RSUs (in millions)		Weighted Average Grant-Date Fair Value (per RSU)
Outstanding at year-end 2015	4.9		$	53
Granted ⁽¹⁾	2.8		63
Issued in the Starwood Combination	2.7		68
Distributed	(2.9	)	50
Forfeited	(0.1	)	62
Outstanding at year-end 2016	7.4		$	61


⁽¹⁾	Includes 0.7 million PSUs.

SARs

We may grant SARs to officers and key employees (“Employee SARs”) at exercise prices or strike prices equal to the market price of our common stock on the grant date. Employee SARs expire ten years after the grant date and both vest and may be exercised in cumulative installments of one quarter at the end of each of the first four years following the grant date. We may grant SARs to directors (“Director SARs”) at exercise prices or strike prices equal to the market price of our common stock on the grant date. Director SARs generally expire ten years after the date of grant and vest upon grant; however, they are generally not exercisable until one year after grant. On exercise of SARs, holders receive the number of shares of our common stock equal to the number of SARs that are being exercised multiplied by the quotient of (a) the stock price on the date of exercise minus the exercise price, divided by (b) the stock price on the date of exercise.

We recognized compensation expense for Employee SARs and Director SARs of $8 million in 2016, $7 million in 2015, and $8 million in 2014. We had deferred compensation costs related to SARs of approximately $4 million in 2016 and $3 million in 2015. Upon the exercise of SARs, we issue shares from treasury shares.

The following table presents the changes in our outstanding SARs during 2016 and the associated weighted average exercise prices:



	Number of SARs (in millions)		Weighted Average Exercise Price
Outstanding at year-end 2015	5.6		$	36
Granted	0.4		67
Exercised	(1.4	)	30
Outstanding at year-end 2016	4.6		$	40

The following tables show the number of Employee SARs and Director SARs we granted in the last three fiscal years, the associated weighted average exercise prices, and the associated weighted average grant-date fair values:



Employee SARs	2016		2015		2014
Employee SARs granted (in millions)	0.4		0.3		0.3
Weighted average exercise price (per SAR)	$	67	$	83	$	53
Weighted average grant-date fair value (per SAR)	$	22	$	26	$	17
Director SARs	2016		2015		2014
Director SARs granted	3,507		2,773		3,277
Weighted average exercise price (per SAR)	$	69	$	80	$	59
Weighted average grant-date fair value (per SAR)	$	23	$	29	$	22

Outstanding SARs had total intrinsic values of $196 million at year-end 2016 and $232 million at year-end 2015. Exercisable SARs had total intrinsic values of $179 million at year-end 2016 and $209 million at year-end 2015. SARs exercised during 2016 had total intrinsic values of $58 million, and SARs exercised in 2015 had total intrinsic values of $23 million.

We used the following assumptions to determine the fair value of the SARs we granted to employees and non-employee directors in 2016, 2015, and 2014:



	2016		2015		2014
Expected volatility	30	%	30	%	29 - 30%
Dividend yield	1.33	%	1.04	%	1.14	%
Risk-free rate	1.7 - 2.4%		1.9 - 2.3%		2.2 - 2.8%
Expected term (in years)	8 - 10		6 - 10		6 - 10

In making these assumptions, we base expected volatility on the historical movement of the Company’s stock price. We base risk-free rates on the corresponding U.S. Treasury spot rates for the expected duration at the date of grant, which we convert to a continuously compounded rate. The dividend yield assumption takes into consideration both historical levels and expectations of future dividend payout. The weighted average expected terms for SARs are an output of our valuation model which utilizes historical data in estimating the period of time that the SARs are expected to remain unexercised. We calculate the expected terms for SARs for separate groups of retirement eligible and non-retirement eligible employees and non-employee directors. Our valuation model also uses historical data to estimate exercise behaviors, which includes determining the likelihood that employees will exercise their SARs before expiration at a certain multiple of stock price to exercise price. In recent years, non-employee directors have generally exercised grants in their last year of exercisability.

Other Information

At year-end 2016, we had 35 million remaining shares authorized under the Stock Plan and Starwood LTIP.

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

Commitments and Contingencies Disclosure [Abstract]

INCOME TAXES

12 Months Ended

Dec. 31, 2016

Income Tax Disclosure [Abstract]

INCOME TAXES

The components of our earnings before income taxes for the last three fiscal years consisted of:



($ in millions)	2016		2015		2014
U.S.	$	813	$	896	$	808
Non-U.S.	371		359		280
	$	1,184	$	1,255	$	1,088

Our provision for income taxes for the last three fiscal years consists of:



($ in millions)		2016			2015			2014
Current	-U.S. Federal	$	(203	)	$	(167	)	$	(224	)
	-U.S. State	(41		)	(40		)	(43		)
	-Non-U.S.	(56		)	(50		)	(47		)
		(300		)	(257		)	(314		)

Deferred	-U.S. Federal	(61		)	(131		)	(21		)
	-U.S. State	(14		)	(7		)	(5		)
	-Non-U.S.	(29		)	(1		)	5
		(104		)	(139		)	(21		)
		$	(404	)	$	(396	)	$	(335	)

Our current tax provision does not reflect the following benefits attributable to us for the vesting or exercise of employee share-based awards: $32 million in 2016, $34 million in 2015, and $89 million in 2014. The preceding table includes tax credits of $4 million in 2016, $4 million in 2015, and $4 million in 2014. We had tax applicable to other comprehensive income of $3 million in 2016, $2 million in 2015, and $5 million in 2014.

We have made no provision for U.S. income taxes or additional non-U.S. taxes on the cumulative unremitted earnings of non-U.S. subsidiaries ($3,950 million as of year-end 2016). We consider the earnings for substantially all non-U.S. subsidiaries to be indefinitely reinvested. These earnings could become subject to additional taxes if the non-U.S. subsidiaries dividend or loan those earnings to a U.S. affiliate or if we sell our interests in the non-U.S. subsidiaries. We cannot practically estimate the amount of additional taxes that might be payable on the unremitted earnings.

Unrecognized Tax Benefits

The following table reconciles our unrecognized tax benefit balance for each year from the beginning of 2014 to the end of 2016:



($ in millions)	Amount
Unrecognized tax benefit at beginning of 2014	$	34
Change attributable to tax positions taken during the current period	3
Decrease attributable to settlements with taxing authorities	(27		)
Decrease attributable to lapse of statute of limitations	—
Unrecognized tax benefit at year-end 2014	10
Change attributable to tax positions taken during the current period	15
Decrease attributable to settlements with taxing authorities	—
Decrease attributable to lapse of statute of limitations	(1		)
Unrecognized tax benefit at year-end 2015	24
Additions from Starwood Combination	387
Change attributable to tax positions taken in prior years	(3		)
Change attributable to tax positions taken during the current period	16
Decrease attributable to settlements with taxing authorities	(2		)
Decrease attributable to lapse of statute of limitations	(1		)
Unrecognized tax benefit at year-end 2016	$	421

These unrecognized tax benefits reflect the following year-over-year changes: (1) a $397 million increase in 2016, largely attributable to Legacy-Starwood unrecognized tax benefits assumed in the Starwood Combination; (2) a $14 million increase in 2015, largely attributable to a U.S. federal tax issue regarding transfer pricing; and (3) a $24 million decrease in 2014, largely attributable to the favorable settlements reached with taxing authorities on both federal and international positions taken in prior years.

Our unrecognized tax benefit balances included $288 million at year-end 2016, $15 million at year-end 2015, and $7 million at year-end 2014 of tax positions that, if recognized, would impact our effective tax rate. It is reasonably possible that we will settle $73 million of unrecognized tax benefits within the next twelve months. This includes $59 million of U.S. federal issues that are currently in appeals, $11 million of state and non-U.S. audits expected to be resolved in 2017, and $3 million related to issues for which statutes of limitations will expire in 2017. We recognize accrued interest and penalties for our unrecognized tax benefits as a component of tax expense. Related interest totaled $8 million in 2016, $3 million in 2015, and $2 million in 2014.

We file income tax returns, including returns for our subsidiaries, in various jurisdictions around the world. The U.S. Internal Revenue Service (“IRS”) has examined our federal income tax returns, and we have settled all issues for tax years through 2013 for Marriott and through 2006 for Starwood. Our Marriott 2014 and 2015 tax year audits are substantially complete, and our Marriott 2016 tax year audit is currently ongoing. Starwood is currently under audit by the IRS for years 2010 through 2012 and in appeals for years 2007 through 2009. Various foreign, state, and local income tax returns are also under examination by the applicable taxing authorities.

Deferred Income Taxes

Deferred income tax balances reflect the effects of temporary differences between the carrying amounts of assets and liabilities and their tax bases, as well as from net operating loss and tax credit carry-forwards. We state those balances at the enacted tax rates we expect will be in effect when we actually pay or recover the taxes. Deferred income tax assets represent amounts available to reduce income taxes we will pay on taxable income in future years. We evaluate our ability to realize these future tax deductions and credits by assessing whether we expect to have sufficient future taxable income from all sources, including reversal of taxable temporary differences, forecasted operating earnings, and available tax planning strategies to utilize these future deductions and credits. We establish a valuation allowance when we no longer consider it more likely than not that a deferred tax asset will be realized.

The following table presents the tax effect of each type of temporary difference and carry-forward that gave rise to a significant portion of our deferred tax assets and liabilities as of year-end 2016 and year-end 2015:



($ in millions)	At Year-End 2016			At Year-End 2015
Employee benefits	$	430		$	348
Net operating loss carry-forwards	320			205
Accrued expenses and other reserves	204			63
Receivables, net	134			11
Tax credits	79			111
Frequent guest program	42			68
Deferred income	20			21
Self-insurance	15			21
Joint venture interests	(8		)	(49		)
Property and equipment	(199		)	(3		)
Intangibles	(1,724		)	(11		)
Other, net	32			34
Deferred taxes	(655		)	819
Less: valuation allowance	(249		)	(163		)
Net deferred taxes	$	(904	)	$	656

During 2016, the valuation allowance increased primarily due to the Starwood Combination. The valuation allowance is attributable to non-U.S. and U.S. state net operating loss carry forwards.

At year-end 2016, we had approximately $65 million of tax credits that expire through 2036 and $13 million of tax credits that do not expire. We recorded $5 million of net operating loss benefits in 2016 and $5 million in 2015. At year-end 2016, we had approximately $2,152 million of primarily state and foreign net operating losses, of which $1,243 million expire through 2036.

Reconciliation of U.S. Federal Statutory Income Tax Rate to Actual Income Tax Rate

The following table reconciles the U.S. statutory tax rate to our effective income tax rate for the last three fiscal years:



	2016		2015		2014
U.S. statutory tax rate	35.0	%	35.0	%	35.0	%
U.S. state income taxes, net of U.S. federal tax benefit	2.9		2.9		2.7
Non-U.S. income ⁽¹⁾	(6.8	)	(5.2	)	(4.8	)
Change in valuation allowance	0.3		1.2		(0.4	)
Tax credits	(0.4	)	(0.3	)	(0.3	)
Other, net	3.1		(2.1	)	(1.4	)
Effective rate	34.1	%	31.5	%	30.8	%


(1)	Includes differences between U.S. and foreign statutory rates as well as tax incentives and tax-exempt income from operations in certain foreign jurisdictions, which we consider to be equivalent to a reduction of the statutory tax rates in these jurisdictions.

We paid cash for income taxes, net of refunds of $293 million in 2016, $218 million in 2015, and $172 million in 2014.

COMMITMENTS AND CONTINGENCIES

12 Months Ended

Dec. 31, 2016

COMMITMENTS AND CONTINGENCIES

Guarantees

We issue guarantees to certain lenders and hotel owners, chiefly to obtain long-term management contracts. The guarantees generally have a stated maximum funding amount and a term of three to ten years. The terms of guarantees to lenders generally require us to fund if cash flows from hotel operations are inadequate to cover annual debt service or to repay the loan at maturity. The terms of the guarantees to hotel owners generally require us to fund if the hotels do not attain specified levels of operating profit. Guarantee fundings to lenders and hotel owners are generally recoverable out of future hotel cash flows and/or proceeds from the sale of hotels. We also enter into project completion guarantees with certain lenders in conjunction with hotels that we or our joint venture partners are building.

We present the maximum potential amount of our future guarantee fundings and the carrying amount of our liability for guarantees for which we are the primary obligor at year-end 2016 in the following table:



($ in millions) Guarantee Type	Maximum Potential Amount of Future Fundings		Recorded Liability for Guarantees
Debt service	$	155	$	24
Operating profit	119		40
Other	8		2
Total guarantees where we are the primary obligor	$	282	$	66

Our liability at year-end 2016 for guarantees for which we are the primary obligor is reflected in our Balance Sheets as $12 million of “Accrued expenses and other” and $54 million of “Other noncurrent liabilities.”

Our guarantees listed in the preceding table include $14 million of debt service guarantees and $51 million of operating profit guarantees that will not be in effect until the underlying properties open and we begin to operate the properties or certain other events occur.

The table above does not include a “contingent purchase obligation,” which is not currently in effect, that we entered into in the 2014 first quarter to provide credit support to lenders for a construction loan. We entered into that agreement in conjunction with signing a management agreement for The Times Square EDITION hotel in New York City (currently projected to open in 2017), and the hotel’s ownership group obtaining acquisition financing and entering into agreements concerning future construction financing for the mixed use project (which includes both the hotel and adjacent retail space). Under the agreement, we granted the lenders the right, upon an uncured event of default by the hotel owner under, and an acceleration of, the mortgage loan, to require us to purchase the hotel component of the property for $315 million during the first two years after opening (the “put option”). Because we would acquire the building upon exercise of the put option, we have not included the amount in the table above. The lenders may extend the period during which the put option is exercisable for up to three years to complete foreclosure if the loan has been accelerated and certain other conditions are met. We do not currently expect that the lenders will require us to purchase the hotel component. We have no ownership interest in this hotel.

In conjunction with financing obtained for specific projects or properties owned by us or joint ventures in which we are a party, we may provide industry standard indemnifications to the lender for loss, liability, or damage occurring as a result of the actions of the other joint venture owner or our own actions.

Commitments

At year-end 2016, we had the following commitments outstanding, which are not recorded on our Balance Sheets:

•

We have a right and, under certain circumstances, an obligation to acquire our joint venture partner’s remaining interests in two joint ventures over the next five years at a price based on the performance of the ventures. In conjunction with this contingent obligation, we advanced $20 million (€15 million) in deposits, $12 million (€11 million) of which are remaining. The amounts on deposit are refundable to the extent that we do not acquire our joint venture partner’s remaining interests.


•	Various loan commitments totaling $126 million, of which we expect to fund $86 million in 2017, $7 million in 2018, and $9 million thereafter. We do not expect to fund the remaining $24 million of these commitments.

•

Various commitments to purchase information technology hardware, software, accounting, finance, and maintenance services in the normal course of business, primarily for programs and services for which we are reimbursed by third-party owners, totaling $470 million. We expect to purchase goods and services subject to these commitments as follows: $186 million in 2017, $136 million in 2018, $106 million in 2019, and $42 million thereafter. These purchase commitments include $302 million of Legacy-Starwood commitments. We are evaluating the contractual nature of such commitments, and the amounts shown above could change as a result of that evaluation.


•	Several commitments aggregating $46 million, which we do not expect to fund.

Letters of Credit

At year-end 2016, we had $157 million of letters of credit outstanding (all outside the Credit Facility, as defined in Footnote 11 “Long-Term Debt”), the majority of which were for our self-insurance programs. Surety bonds issued as of year-end 2016, totaled $149 million, the majority of which state governments requested in connection with our self-insurance programs.

Legal Proceedings

In November 2015, Starwood announced a malware intrusion had affected point of sale systems at various outlets within certain Legacy-Starwood branded hotels. This resulted in the potential compromise of credit card data and associated personal information. The affected credit card companies are evaluating whether and to what extent financial penalties should be imposed. In addition, a putative class action arising from the malware intrusion was filed against Starwood on January 5, 2016 in the United States District Court for the Southern District of California. The named plaintiff, Paul Dugas, does not specify any damages sought. Starwood initially filed a motion to dismiss that was granted in part and denied in part in November 2016. The plaintiff filed an amended complaint in December 2016, and we are evaluating how to respond.

On May 10, 2016, the owners of the Sheraton Grand Chicago and the Westin Times Square, New York, filed suit in the Supreme Court of New York against Starwood and Marriott seeking to enjoin the merger of the two companies. The complaint alleges violations of the territorial restrictions contained in the management agreements for those two hotels arising as a result of the merger of Marriott and Starwood. While the attempt to enjoin the merger ultimately failed, the underlying suit continues as a breach of contract claim, and plaintiffs seek, among other remedies, monetary damages relating to the alleged violations.

We do not expect either proceeding to have a significant impact on our consolidated results of operations as they both relate to matters existing as of the Merger Date.

Other Contingencies

See a description of certain contingencies relating to the Starwood Combination in Footnote 3 “Acquisitions and Dispositions.”

LEASES

12 Months Ended

Dec. 31, 2016

Leases [Abstract]

LEASES

The following table presents our future minimum lease obligations, including leases that we assumed in the Starwood Combination, for which we are the primary obligor as of year-end 2016:



($ in millions)	Operating Leases		Capital Leases
2017	$	183	$	13
2018	173		13
2019	152		13
2020	130		13
2021	121		13
Thereafter	983		191
Total minimum lease payments where we are the primary obligor	$	1,742	$	256
Less: amount representing interest			83
Present value of minimum lease payments			$	173

Most leases have initial terms of up to 20 years, contain one or more renewals at our option, generally for five- or 10-year periods, and generally contain fixed and variable components. The variable components of leases of land or building facilities are primarily based on operating performance of the leased property.

The following table details the composition of rent expense for operating leases for the last three years:



($ in millions)	2016		2015		2014
Minimum rentals	$	150	$	138	$	143
Additional rentals	67		65		64
	$	217	$	203	$	207

SELF-INSURANCE RESERVE FOR LOSSES AND LOSS ADJUSTMENT EXPENSES

12 Months Ended

Dec. 31, 2016

Self-Insurance Reserve for Losses and Loss Adjustment Expenses Disclosure [Abstract]

SELF-INSURANCE RESERVE FOR LOSSES AND LOSS ADJUSTMENT EXPENSES

The following table summarizes the activity in our self-insurance reserve for losses and loss adjustment expenses as of year-end 2016 and 2015:



($ in millions)	2016			2015
Balance at beginning of year	$	416		$	384
Less: reinsurance recoverable	(3		)	(4		)
Net balance at beginning of year	413			380
Assumed in the Starwood Combination	91			—
Incurred related to:
Current year	140			141
Prior years	(20		)	(11		)
Total incurred	120			130
Paid related to:
Current year	(26		)	(27		)
Prior years	(79		)	(70		)
Total paid	(105		)	(97		)
Net balance at end of year	519			413
Add: reinsurance recoverable	3			3
Balance at end of year	$	522		$	416

Current portion classified in “Accrued expenses and other”	$	142		$	115
Noncurrent portion classified in “Other noncurrent liabilities”	380			301
	$	522		$	416

We decreased our provision for incurred losses for prior years by $20 million in 2016 and by $11 million in 2015 as a result of changes in estimates from insured events from prior years due to changes in underwriting experience and frequency and severity trends.

LONG-TERM DEBT

12 Months Ended

Dec. 31, 2016

Debt Disclosure [Abstract]

LONG-TERM DEBT

We provide detail on our long-term debt balances, net of discounts, premiums, and debt issuance costs, in the following table at year-end 2016 and 2015:



($ in millions)	At Year-End 2016			At Year-End 2015
Senior Notes:
Series H Notes, interest rate of 6.2%, face amount of $289, maturing June 15, 2016 (effective interest rate of 6.3%)	$	—		$	289
Series I Notes, interest rate of 6.4%, face amount of $293, maturing June 15, 2017 (effective interest rate of 6.5%)	293			293
Series K Notes, interest rate of 3.0%, face amount of $600, maturing March 1, 2019 (effective interest rate of 4.4%)	597			595
Series L Notes, interest rate of 3.3%, face amount of $350, maturing September 15, 2022 (effective interest rate of 3.4%)	348			348
Series M Notes, interest rate of 3.4%, face amount of $350, maturing October 15, 2020 (effective interest rate of 3.6%)	347			347
Series N Notes, interest rate of 3.1%, face amount of $400, maturing October 15, 2021 (effective interest rate of 3.4%)	396			395
Series O Notes, interest rate of 2.9%, face amount of $450, maturing March 1, 2021 (effective interest rate of 3.1%)	446			446
Series P Notes, interest rate of 3.8%, face amount of $350, maturing October 1, 2025 (effective interest rate of 4.0%)	344			343
Series Q Notes, interest rate of 2.3%, face amount of $750, maturing January 15, 2022 (effective interest rate of 2.5%)	742			—
Series R Notes, interest rate of 3.1%, face amount of $750, maturing June 15, 2026 (effective interest rate of 3.3%)	742			—
Series S Notes, interest rate of 6.8%, face amount of $324, maturing May 15, 2018 (effective interest rate of 1.7%)	346			—
Series T Notes, interest rate of 7.2%, face amount of $181, maturing December 1, 2019 (effective interest rate of 2.3%)	206			—
Series U Notes, interest rate of 3.1%, face amount of $291, maturing February 15, 2023 (effective interest rate of 3.1%)	291			—
Series V Notes, interest rate of 3.8%, face amount of $318, maturing March 15, 2025 (effective interest rate of 2.8%)	340			—
Series W Notes, interest rate of 4.5%, face amount of $278, maturing October 1, 2034 (effective interest rate of 4.1%)	293			—
Commercial paper	2,311			938
Credit Facility	—			—
Capital lease obligations	173			5
Other	291			108
	$	8,506		$	4,107
Less: Current portion of long-term debt	(309		)	(300		)
	$	8,197		$	3,807

All of our long-term debt is recourse to us but unsecured. We paid cash for interest, net of amounts capitalized, of $165 million in 2016, $114 million in 2015, and $79 million in 2014. All of the Senior Notes shown in the table above are our unsecured and unsubordinated obligations, which rank equally with our other Senior Notes and all other unsecured and unsubordinated indebtedness that we have issued or will issue from time to time, and are governed by the terms of an indenture, dated as of November 16, 1998, between us and The Bank of New York Mellon (formerly The Bank of New York), as trustee. We may redeem some or all of each series of the Senior Notes before maturity under the terms provided in the applicable form of Senior Note.

In the 2016 fourth quarter, we completed debt exchange offers to exchange all validly tendered and not validly withdrawn outstanding senior notes previously issued by Starwood for new notes issued by us. In exchange for the validly tendered and accepted Starwood notes, we issued the Series S Notes through Series W Notes shown in the table above. At year-end 2016, $165 million aggregate principal amount of Starwood’s previously issued notes remained outstanding across five series, which we include in the “Other” caption in the above table. In connection with the exchange offers, we also obtained consent from the requisite holders of each series of Starwood’s previously issued notes to amend the indentures governing those notes to, among other things, eliminate substantially all of the restrictive covenants, change of control provisions, requirements that Starwood had been required to meet to consolidate, merge, or sell all or substantially all of its assets, and certain events of default. As a result of those consents, those restrictions and events of default no longer apply to the Starwood notes that remain outstanding.

In the 2016 second quarter, we issued $1,500 million aggregate principal amount of the Series Q Notes and Series R Notes shown in the table above. We received net proceeds of approximately $1,485 million from the offering of the Series Q Notes and Series R Notes, after deducting the underwriting discount and estimated expenses. We used these proceeds, together with borrowings under our Credit Facility, as defined below, to finance the cash component of the consideration paid to Starwood shareholders and certain fees and expenses we incurred in connection with the Starwood Combination.

In the 2015 third quarter, we issued $800 million aggregate principal amount of the Series O Notes and Series P Notes shown in the table above. We received net proceeds of approximately $790 million from the offering of the Series O and Series P Notes, after deducting the underwriting discount and expenses. We use these proceeds for general corporate purposes, including working capital, capital expenditures, stock repurchases, or repayment of commercial paper or other borrowings as they became due.

We are party to a multicurrency revolving credit agreement (the “Credit Facility”) that provides for up to $4,000 million of aggregate effective borrowings to support our commercial paper program and general corporate needs, including working capital, capital expenditures, share repurchases, letters of credit, and acquisitions. In addition, we used borrowings under the Credit Facility, all of which we later repaid, to finance part of the cash component of the consideration we paid to Starwood shareholders and certain fees and expenses we incurred in connection with the Starwood Combination. Borrowings under the Credit Facility generally bear interest at LIBOR (the London Interbank Offered Rate) plus a spread, based on our public debt rating. We also pay quarterly fees on the Credit Facility at a rate based on our public debt rating. While any outstanding commercial paper borrowings and/or borrowings under our Credit Facility generally have short-term maturities, we classify the outstanding borrowings as long-term based on our ability and intent to refinance the outstanding borrowings on a long-term basis. The Credit Facility expires on June 10, 2021. See the “Cash Requirements and Our Credit Facilities” caption earlier in this report in the “Liquidity and Capital Resources” section for information on our available borrowing capacity at year-end 2016.

The following table presents future principal payments, net of discounts, premiums, and debt issuance costs, for our debt as of year-end 2016:



Debt Principal Payments ($ in millions)	Amount
2017	$	309
2018	410
2019	857
2020	364
2021	3,171
Thereafter	3,395
Balance at year-end 2016	$	8,506

PENSION AND OTHER POSTRETIREMENT BENEFITS

12 Months Ended

Dec. 31, 2016

Compensation and Retirement Disclosure [Abstract]

PENSION AND OTHER POSTRETIREMENT BENEFITS

We assumed numerous funded and unfunded domestic and international defined benefit pension plans in the Starwood Combination. All defined benefit plans covering U.S. employees are frozen, meaning that employees do not accrue additional benefits. Certain plans covering non-U.S. employees remain active. The majority of participants in the non-U.S. pension plans are employees of managed hotels, for which we are reimbursed for costs related to their benefits.

We also assumed the Starwood Retiree Welfare Program, which provides health care and life insurance benefits for certain eligible retired employees. We fund this plan on a pay-as-you-go basis.

During 2016, we recorded net actuarial gains of $5 million, net of tax, in other comprehensive income, primarily due to changes in assumed discount rates.

The following tables show the fair value of plan assets, accumulated benefit obligation, and the funded status of our defined benefit pension and postretirement benefit plans at December 31, 2016:



($ in millions)	Domestic Pension Benefits			Foreign Pension Benefits			Postretirement Benefits
Change in Plan Assets
Fair value of plan assets at Merger Date	$	—		$	278		$	—
Actual return on plan assets, net of expenses	—			(10		)	—
Employer contribution	1			2			—
Effect of foreign exchange rates	—			(6		)	—
Benefits paid	(1		)	(2		)	—
Fair value of plan assets at year-end	$	—		$	262		$	—



($ in millions)	Domestic Pension Benefits			Foreign Pension Benefits			Postretirement Benefits
Change in Benefit Obligation
Benefit obligations at Merger Date	$	23		$	251		$	16
Interest cost	—			2			—
Actuarial gain	(1		)	(17		)	(1		)
Effect of foreign exchange rates	—			(5		)	—
Benefits paid	(1		)	(2		)	—
Accumulated benefit obligation balance	21			229			15
Overfunded (underfunded) status	$	(21	)	$	33		$	(15	)

We show over- and under-funded amounts in our Balance Sheets as $40 million of “Other noncurrent liabilities,” $3 million of “Accrued expenses and other,” and $40 million of “Other noncurrent assets” at December 31, 2016.

The following table shows the benefit obligations for pension plans with accumulated benefit obligations that exceed the fair value of plan assets:



($ in millions)	Domestic Pension Benefits		Foreign Pension Benefits		Postretirement Benefits
Plans with Accumulated Benefit Obligations in excess of Plan Assets
Projected benefit obligation	$	21	$	7	n/a
Accumulated benefit obligation	$	21	$	7	n/a

The weighted average assumptions used to determine benefit obligations at year-end 2016 were as follows:



	Domestic Pension Benefits		Foreign Pension Benefits		Postretirement Benefits
Discount rate	3.75	%	3.54	%	3.74	%
Rate of compensation increase	n/a		3.02	%	n/a

For measurement purposes at year-end 2016, we assumed a 7% annual rate of increase in the per capita cost of covered health care benefits for 2017, gradually decreasing to 5% in 2020. A one-percentage point change in our assumed health care cost trend rates would have less than a $1 million effect on the postretirement obligation and a nominal impact on the total of service and interest cost components of the net periodic benefit cost.

Our investment objectives for these pension plans are to minimize asset value volatility and to ensure the assets are sufficient to pay plan benefits. The target asset allocation is 31% debt securities, 30% equity securities, and 39% other. We consider a number of factors in assessing the expected return on plan assets, including current and expected allocation of plan assets, the investment strategy, historical rates of return and our expectations, as well as investment expert expectations, for investment performance over approximately a ten-year period.

The following table presents our fair value hierarchy of the plan assets at year-end 2016:



($ in millions)	Level 1		Level 2		Level 3		Total
Assets:
Mutual funds	$	79	$	—	$	—	$	79
Collective trusts	—		1		93		94
Equity index trusts	77		—		—		77
Money markets	1		9		—		10
Bond index funds	—		2		—		2
	$	157	$	12	$	93	$	262

The collective trusts assets include investments in insurance contracts, which we valued using significant unobservable inputs, including plan specific data and bond interest rates. We value all other assets using quoted market prices in active markets or other observable inputs.

The following table shows our expected future pension and postretirement benefit plan payments for the next ten years:



($ in millions)	Domestic Pension Benefits		Foreign Pension Benefits		Postretirement Benefits		Total
2017	$	2	$	15	$	1	$	18
2018	2		9		1		12
2019	2		10		1		13
2020	2		10		1		13
2021	2		10		1		13
2022-2026	7		54		5		66

We expect to contribute $9 million to the plans during 2017. A significant portion of the contributions relate to the non-U.S. pension plans, for which we are reimbursed by our managed hotels.

INTANGIBLE ASSETS AND GOODWILL

12 Months Ended

Dec. 31, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS AND GOODWILL

The following table details the composition of our intangible assets at year-end 2016 and 2015:



($ in millions)	At Year-End 2016			At Year-End 2015
Definite-lived Intangible Assets
Contract acquisition costs and other	$	3,276		$	1,702
Accumulated amortization	(447		)	(380		)
	2,829			1,322
Indefinite-lived Intangible Brand Assets	6,441			129
	$	9,270		$	1,451

We capitalize both direct and incremental costs that we incur to acquire management, franchise, and license agreements. We amortize these costs on a straight-line basis over the initial term of the agreements, ranging from 15 to 30 years. Our amortization expense totaled $87 million in 2016, $65 million in 2015, and $64 million in 2014. We estimate that our aggregate amortization expense for each of the next five fiscal years will be as follows: $152 million for 2017; $152 million for 2018; $152 million for 2019; $152 million for 2020; and $152 million for 2021.

The following table details the carrying amount of our goodwill at year-end 2016 and 2015:



($ in millions)	North American Full-Service Segment			North American Limited-Service Segment			International			Total Goodwill
Year-end 2015 balance:
Goodwill	$	409		$	125		$	463		$	997
Accumulated impairment losses	—			(54		)	—			(54		)
	409			71			463			943

Additions	$	2,500		$	1,434		$	2,840		$	6,774
Foreign currency translation	(4		)	(1		)	(114		)	(119		)

Year-end 2016 balance:
Goodwill	$	2,905		$	1,558		$	3,189		$	7,652
Accumulated impairment losses	—			(54		)	—			(54		)
	$	2,905		$	1,504		$	3,189		$	7,598

The table reflects our preliminary estimate of goodwill added as a result of our acquisition of Starwood in 2016. Because we have not yet finalized the fair values of assets acquired and liabilities assumed in the Starwood Combination, the assignment of goodwill to our reporting units may change during the measurement period. See Footnote 3 “Acquisitions and Dispositions” for more information.

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT

12 Months Ended

Dec. 31, 2016

PROPERTY AND EQUIPMENT

The following table presents the composition of our property and equipment balances at year-end 2016 and 2015:



($ in millions)	At Year-End 2016			At Year-End 2015
Land	$	654		$	299
Buildings and leasehold improvements	1,352			729
Furniture and equipment	1,159			768
Construction in progress	155			130
	3,320			1,926
Accumulated depreciation	(985		)	(897		)
	$	2,335		$	1,029

We record property and equipment at cost, including interest and real estate taxes we incur during development and construction. Interest we capitalized as a cost of property and equipment totaled $1 million in 2016, $9 million in 2015, and $33 million in 2014. We capitalize the cost of improvements that extend the useful life of property and equipment when we incur them. These capitalized costs may include structural costs, equipment, fixtures, floor, and wall coverings. We expense all repair and maintenance costs when we incur them. We compute depreciation using the straight-line method over the estimated useful lives of the assets (generally three to 40 years), and we amortize leasehold improvements over the shorter of the asset life or lease term. Our gross depreciation expense totaled $157 million in 2016, $132 million in 2015, and $135 million in 2014 (of which $76 million in 2016, $58 million in 2015, and $51 million in 2014 we included in reimbursed costs). Fixed assets attributed to operations located outside the United States were $1,000 million in 2016 and $229 million in 2015.

NOTES RECEIVABLE

12 Months Ended

Dec. 31, 2016

Receivables [Abstract]

NOTES RECEIVABLE

The following table presents the composition of our notes receivable balances (net of reserves and unamortized discounts) at year-end 2016 and 2015:



($ in millions)	At Year-End 2016			At Year-End 2015
Senior, mezzanine, and other loans	$	248		$	221
Less current portion	(3		)	(6		)
	$	245		$	215

We did not have any past due notes receivable amounts at the end of either 2016 or 2015. The unamortized discounts for our notes receivable were $22 million at year-end 2016 and $31 million at year-end 2015.

The following table presents the expected future principal payments (net of reserves and unamortized discounts) as well as interest rates for our notes receivable as of year-end 2016:



Notes Receivable Principal Payments ($ in millions)	Amount
2017	$	3
2018	77
2019	21
2020	17
2021	48
Thereafter	82
Balance at year-end 2016	$	248
Weighted average interest rate at year-end 2016	6.9%
Range of stated interest rates at year-end 2016	0 - 18%

At year-end 2016, our recorded investment in impaired senior, mezzanine, and other loans was $74 million, and we had a $57 million allowance for credit losses, leaving $17 million of exposure to our investment in impaired loans. At year-end 2015, our recorded investment in impaired senior, mezzanine, and other loans was $72 million, and we had a $55 million allowance for credit losses, leaving $17 million of exposure to our investment in impaired loans. Our average investment in impaired senior, mezzanine, and other loans totaled $73 million during 2016, $67 million during 2015, and $81 million during 2014.

FAIR VALUE OF FINANCIAL INSTRUMENTS

12 Months Ended

Dec. 31, 2016

Fair Value Disclosures [Abstract]

FAIR VALUE OF FINANCIAL INSTRUMENTS

We believe that the fair values of our current assets and current liabilities approximate their reported carrying amounts. We present the carrying values and the fair values of noncurrent financial assets and liabilities that qualify as financial instruments, determined under current guidance for disclosures on the fair value of financial instruments, in the following table:



	At Year-End 2016						At Year-End 2015
($ in millions)	Carrying Amount			Fair Value			Carrying Amount			Fair Value
Senior, mezzanine, and other loans	$	245		$	231		$	215		$	209
Total noncurrent financial assets	$	245		$	231		$	215		$	209

Senior Notes	$	(5,438	)	$	(5,394	)	$	(2,766	)	$	(2,826	)
Commercial paper	(2,311		)	(2,311		)	(938		)	(938		)
Other long-term debt	(280		)	(284		)	(99		)	(108		)
Other noncurrent liabilities	(59		)	(59		)	(63		)	(63		)
Total noncurrent financial liabilities	$	(8,088	)	$	(8,048	)	$	(3,866	)	$	(3,935	)

We estimate the fair value of our senior, mezzanine, and other loans, including the current portion, by discounting cash flows using risk-adjusted rates, both of which are Level 3 inputs.

We estimate the fair value of our other long-term debt, including the current portion and excluding leases, using expected future payments discounted at risk-adjusted rates, which are Level 3 inputs. We determine the fair value of our Senior Notes using quoted market prices, which are directly observable Level 1 inputs. As noted in Footnote 11 “Long-Term Debt,” even though our commercial paper borrowings generally have short-term maturities of 30 days or less, we classify outstanding commercial paper borrowings as long-term based on our ability and intent to refinance them on a long-term basis. As we are a frequent issuer of commercial paper, we use pricing from recent transactions as Level 2 inputs in estimating fair value. At year-end 2016 and year-end 2015, we determined that the carrying value of our commercial paper approximated fair value due to the short maturity. Our other noncurrent liabilities largely consist of guarantees. As we note in the “Guarantees” caption of Footnote 2 “Summary of Significant Accounting Policies,” we measure our liability for guarantees at fair value on a nonrecurring basis, which is when we issue or modify a guarantee using Level 3 internally developed inputs. At year-end 2016 and year-end 2015, we determined that the carrying values of our guarantee liabilities approximated their fair values based on Level 3 inputs.

See the “Fair Value Measurements” caption of Footnote 2 “Summary of Significant Accounting Policies” for more information on the input levels we use in determining fair value.

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

12 Months Ended

Dec. 31, 2016

Equity [Abstract]

The following table details the accumulated other comprehensive (loss) income activity for 2016, 2015, and 2014:



($ in millions)	Foreign Currency Translation Adjustments			Derivative Instrument Adjustments			Available-For-Sale Securities Unrealized Adjustments			Pension and Postretirement Adjustments		Accumulated Other Comprehensive Loss
Balance at year-end 2013	$	(31	)	$	(19	)	$	6		$	—	$	(44	)
Other comprehensive (loss) income before reclassifications ⁽¹⁾	(41		)	8			5			—		(28		)
Amounts reclassified from accumulated other comprehensive loss	—			2			—			—		2
Net other comprehensive (loss) income	(41		)	10			5			—		(26		)
Balance at year-end 2014	$	(72	)	$	(9	)	$	11		$	—	$	(70	)
Other comprehensive (loss) income before reclassifications ⁽¹⁾	(123		)	10			(7		)	—		(120		)
Amounts reclassified from accumulated other comprehensive loss	3			(9		)	—			—		(6		)
Net other comprehensive (loss) income	(120		)	1			(7		)	—		(126		)
Balance at year-end 2015	$	(192	)	$	(8	)	$	4		$	—	$	(196	)
Other comprehensive (loss) income before reclassifications ⁽¹⁾	(311		)	1			2			5		(303		)
Amounts reclassified from accumulated other comprehensive loss	—			2			—			—		2
Net other comprehensive (loss) income	(311		)	3			2			5		(301		)
Balance at year-end 2016	$	(503	)	$	(5	)	$	6		$	5	$	(497	)


⁽¹⁾	Other comprehensive (loss) income before reclassifications for foreign currency translation adjustments includes gains on intra-entity foreign currency transactions that are of a long-term investment nature of $69 million for 2016, $48 million for 2015, and $28 million for 2014.

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

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+ Details

BUSINESS SEGMENTS

12 Months Ended

Dec. 31, 2016

Segment Reporting [Abstract]

BUSINESS SEGMENTS

We are a diversified global lodging company with operations in the following three reportable business segments, which include the following brands at year-end 2016:


•	North American Full-Service, which includes our Luxury and Premium brands (JW Marriott, The Ritz-Carlton, W Hotels, The Luxury Collection, St. Regis, EDITION, Marriott Hotels, Sheraton, Westin, Renaissance Hotels, Le Méridien, Autograph Collection Hotels, Delta Hotels, Gaylord Hotels, and Tribute Portfolio) located in the United States and Canada;


•	North American Limited-Service, which includes our Select brands (Courtyard, Residence Inn, Fairfield Inn & Suites, SpringHill Suites, Four Points, TownePlace Suites, Aloft Hotels, AC Hotels by Marriott, Element Hotels, and Moxy Hotels) located in the United States and Canada; and

•

International, which includes JW Marriott, The Ritz-Carlton, W Hotels, The Luxury Collection, St. Regis, EDITION, Bulgari Hotels & Resorts, Marriott Hotels, Sheraton, Westin, Renaissance Hotels, Le Méridien, Autograph Collection Hotels, Marriott Executive Apartments, Tribute Portfolio, Courtyard, Residence Inn, Fairfield Inn & Suites, Four Points, Aloft Hotels, AC Hotels by Marriott, Protea Hotels, Element Hotels, and Moxy Hotels located outside the United States and Canada.

Our North American Full-Service and North American Limited-Service segments meet the applicable accounting criteria to be reportable business segments. The following four operating segments do not meet the criteria for separate disclosure as reportable business segments: Asia Pacific, Caribbean and Latin America, Europe, and Middle East and Africa, and accordingly, we combined these four operating segments into an “all other” category which we refer to as “International.”

We evaluate the performance of our operating segments using “segment profits” which is based largely on the results of the segment without allocating corporate expenses, income taxes, or indirect general, administrative, and other expenses. We assign gains and losses, equity in earnings or losses from our joint ventures, and direct general, administrative, and other expenses to each of our segments. “Other unallocated corporate” represents a portion of our revenues, general, administrative, and other expenses, equity in earnings or losses, and other gains or losses that we do not allocate to our segments. It also includes license fees we receive from our credit card programs and fees from vacation ownership licensing agreements.

Our President and Chief Executive Officer, who is our “chief operating decision maker” (“CODM”), monitors assets for the consolidated company, but does not use assets by operating segment when assessing performance or making operating segment resource allocations.

Segment Revenues



($ in millions)	2016		2015		2014
North American Full-Service segment	$	10,376	$	8,825	$	8,323
North American Limited-Service segment	3,561		3,193		2,962
International	2,636		2,200		2,255
Total segment revenues ⁽¹⁾	16,573		14,218		13,540
Other unallocated corporate	499		268		256
Total consolidated revenues	$	17,072	$	14,486	$	13,796


⁽¹⁾	Revenues attributed to operations located outside the United States were $3,181 million in 2016, $2,761 million in 2015, and $2,518 million in 2014.

Segment Profits



($ in millions)	2016			2015			2014
North American Full-Service segment	$	777		$	561		$	524
North American Limited-Service segment	698			651			574
International	407			292			295
Total segment profits ⁽¹⁾	1,882			1,504			1,393
Other unallocated corporate	(499		)	(111		)	(220		)
Interest expense and interest income	(199		)	(138		)	(85		)
Income taxes	(404		)	(396		)	(335		)
	$	780		$	859		$	753


⁽¹⁾	Segment profits attributed to operations located outside the United States were $462 million in 2016, $329 million in 2015, and $327 million in 2014. The 2016 segment profits consisted of segment profits of $176 million from Asia Pacific, $105 million from Europe, $87 million from the Caribbean and Latin America, $55 million from Canada, and $39 million from the Middle East and Africa.

Depreciation and Amortization



($ in millions)	2016		2015		2014
North American Full-Service segment	$	67	$	55	$	52
North American Limited-Service segment	23		21		22
International	57		40		42
Total segment depreciation and amortization	147		116		116
Other unallocated corporate ⁽¹⁾	21		23		32
	$	168	$	139	$	148


⁽¹⁾	Includes no impairment charges in 2016, $12 million in 2015, and $25 million in 2014 on EDITION hotels and residences. See Footnote 3 “Acquisitions and Dispositions” for more information.

Capital Expenditures



($ in millions)	2016		2015		2014
North American Full-Service segment	$	35	$	120	$	251
North American Limited-Service segment	7		7		5
International	39		86		87
Total segment capital expenditures	81		213		343
Other unallocated corporate	118		92		68
	$	199	$	305	$	411

RELATED PARTY TRANSACTIONS

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

RELATED PARTY TRANSACTIONS

12 Months Ended

Dec. 31, 2016

Equity Method Investments

We have equity method investments in entities that own properties for which we provide management and/or franchise services and receive fees. We also have equity method investments in entities that provide management and/or franchise services to hotels and receive fees. In addition, in some cases we provide loans, preferred equity, or guarantees to these entities. Undistributed earnings attributable to our equity method investments represented approximately $5 million of our consolidated retained earnings at year-end 2016.

The following tables present financial data resulting from transactions with these related parties:

Income Statement Data



($ in millions)	2016			2015			2014
Base management fees	$	18		$	15		$	17
Incentive management fees	10			3			6
Owned, leased, and other revenue	—			1			1
Cost reimbursements	193			197			226
Total revenue	$	221		$	216		$	250

Reimbursed costs	$	(193	)	$	(197	)	$	(226	)
Depreciation, amortization, and other	(2		)	(2		)	(2		)
General, administrative, and other	—			(1		)	(2		)
Gains and other income	1			—			—
Interest income	5			5			5
Equity in earnings	10			16			6

Balance Sheet Data



($ in millions)	At Year-End 2016			At Year-End 2015
Current assets
Accounts and notes receivable, net	$	27		$	29
Other	1			1
Intangible assets
Contract acquisition costs and other	23			30
Equity method investments	723			159
Other noncurrent assets	17			17
Deferred tax assets	6			—
Current liabilities
Accounts payable	(4		)	(10		)
Accrued expenses and other	(22		)	(12		)
Deferred tax liabilities	(56		)	(4		)
Other noncurrent liabilities	(4		)	(3		)

Summarized Financial Information for Investees

The following tables present summarized financial information for the entities in which we have equity method investments:



($ in millions)	2016 ⁽¹⁾		2015		2014
Sales	$	747	$	615	$	752
Net income	$	101	$	44	$	38



($ in millions)	At Year-End 2016		At Year-End 2015
Assets (primarily composed of hotel real estate managed by us)	$	2,249	$	1,218
Liabilities	$	1,677	$	1,110


⁽¹⁾	Sales and net income are for the period from the Merger Date to year-end 2016 for the entities in which we acquired an investment through the Starwood Combination.

At year-end 2016, the carrying amount of our equity method investments, which includes a provisional estimate of the fair value of the equity method investments that we acquired in the Starwood Combination on the Merger Date, was $723 million. This value exceeded our share of the book value of the investees' net assets by $491 million, primarily due to the value that we assigned to land, contracts, and buildings owned by the investees. Excluding the amount attributable to land, we amortize the difference on a straight-line basis over the underlying assets' estimated useful lives when calculating equity method earnings attributable to us.

Other Related Parties

We received management fees of approximately $13 million in 2016, $13 million in 2015, and $12 million in 2014, plus reimbursement of certain expenses, from our operation of properties owned by JWM Family Enterprises, L.P., which is beneficially owned and controlled by J.W. Marriott, Jr., Deborah Marriott Harrison, and other members of the Marriott family.

RELATIONSHIP WITH MAJOR CUSTOMER	12 Months Ended
RELATIONSHIP WITH MAJOR CUSTOMER	Dec. 31, 2016
Relationship with Major Customer Disclosure [Abstract]
RELATIONSHIP WITH MAJOR CUSTOMER	RELATIONSHIP WITH MAJOR CUSTOMER Host Hotels & Resorts, Inc., formerly known as Host Marriott Corporation, and its affiliates (“Host”) owned or leased 87 lodging properties at year-end 2016 and 58 lodging properties at year-end 2015 that we operated under long-term agreements. Over the last three years, we recognized revenues, including cost reimbursements revenue, of $1,991 million in 2016, $1,888 million in 2015, and $1,927 million in 2014 from those lodging properties, and included those revenues in all three of our business segments. Host is also a partner in certain unconsolidated partnerships that own lodging properties that we operate under long-term agreements. Host was affiliated with eight such properties at year-end 2016 and nine such properties at year-end 2015. We recognized revenues, including cost reimbursements revenue, of $98 million in 2016, $103 million in 2015, and $106 million in 2014 from those lodging properties, and included those revenues in our North American Full-Service and International segments.

SUPPLEMENTARY DATA QUARTERLY FINANCIAL DATA - UNAUDITED

12 Months Ended

Dec. 31, 2016

Quarterly Financial Information Disclosure [Abstract]

SUPPLEMENTARY DATA QUARTERLY FINANCIAL DATA - UNAUDITED

SUPPLEMENTARY DATA

QUARTERLY FINANCIAL DATA – UNAUDITED



($ in millions, except per share data)	2016
	First Quarter		Second Quarter		Third Quarter		Fourth Quarter		Fiscal Year
Revenues	$	3,772	$	3,902	$	3,942	$	5,456	$	17,072
Operating income	$	367	$	389	$	171	$	441	$	1,368
Net income	$	219	$	247	$	70	$	244	$	780
Diluted earnings per share ⁽¹⁾	$	0.85	$	0.96	$	0.26	$	0.62	$	2.64



($ in millions, except per share data)	2015
	First Quarter		Second Quarter		Third Quarter		Fourth Quarter		Fiscal Year
Revenues	$	3,513	$	3,689	$	3,578	$	3,706	$	14,486
Operating income	$	332	$	369	$	339	$	310	$	1,350
Net income	$	207	$	240	$	210	$	202	$	859
Diluted earnings per share	$	0.73	$	0.87	$	0.78	$	0.77	$	3.15


⁽¹⁾	The sum of the earnings per share for the four quarters differs from annual earnings per share due to the required method of computing the weighted average shares in interim periods.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Dec. 31, 2016

Accounting Policies [Abstract]

Basis of Presentation

The consolidated financial statements present the results of operations, financial position, and cash flows of Marriott International, Inc. (“Marriott,” and together with its consolidated subsidiaries, as “we,” “us,” or “the Company”). In order to make this report easier to read, we also refer throughout to (i) our Consolidated Financial Statements as our “Financial Statements,” (ii) our Consolidated Statements of Income as our “Income Statements,” (iii) our Consolidated Balance Sheets as our “Balance Sheets,” (iv) our properties, brands, or markets in the United States (“U.S.”) and Canada as “North America” or “North American,” and (v) our properties, brands, or markets outside of the United States and Canada as “International.” In addition, references throughout to numbered “Footnotes” refer to the numbered Notes in these Notes to Consolidated Financial Statements, unless otherwise noted.

Preparation of financial statements that conform with U.S. generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements, the reported amounts of revenues and expenses during the reporting periods, and the disclosures of contingent liabilities. Accordingly, ultimate results could differ from those estimates.

The accompanying Financial Statements reflect all normal and recurring adjustments necessary to present fairly our financial position at fiscal year-end 2016 and fiscal year-end 2015 and the results of our operations and cash flows for fiscal years 2016, 2015, and 2014. We have eliminated all material intercompany transactions and balances between entities consolidated in these Financial Statements. We have made certain reclassifications of our prior year amounts to conform to our current presentation of “Brands” and “Deferred tax liabilities” in our Balance Sheets and “Merger-related costs and charges” in our Income Statements.

Revenue Recognition

Owned and Leased Units: We recognize room sales and revenues from other guest services for our owned and leased units when rooms are occupied and when we have rendered the services.

Share-Based Compensation

Income Taxes

Cash and Equivalents

We consider all highly liquid investments with an initial maturity of three months or less at date of purchase to be cash equivalents.

Accounts Receivable

Assets Held for Sale

Goodwill

Intangibles and Long-Lived Assets

Investments

For investments in securities classified as available-for-sale, we determine the cost basis of the securities sold using specific identification, meaning that we track our securities individually.

Fair Value Measurements

Level 1 inputs are unadjusted quoted prices in active markets for identical assets or liabilities that we have the ability to access at the measurement date.

Derivative Instruments

Loan Loss Reserves

Guarantees

Self-Insurance Programs

Legal Contingencies

Business Combinations

New Accounting Standards

Accounting Standards Update No. 2014-09 - “Revenue from Contracts with Customers” (“ASU No. 2014-09”)


•	We will recognize franchise application fees over the term of the franchise contract rather than at hotel opening.


•	We will recognize incentive management fees once the uncertainty related to these variable fees has been alleviated, which will likely result in recognizing these fees later in the year than we do currently.


•	We believe that the timing of recognition for profits from the sale of real estate assets will change, resulting from the removal of the real estate specific guidance.

Accounting Standards Update No. 2015-16 - “Simplifying the Accounting for Measurement-Period Adjustments” (“ASU No. 2015-16”)

Accounting Standards Update No. 2016-02 - “Leases” (“ASU No. 2016-02”)

Accounting Standards Update No. 2016-09 - “Stock Compensation” (“ASU No. 2016-09”)

Accounting Standards Update No. 2017-01 - “Clarifying the Definition of a Business” (“ASU No. 2017-01”)

Earnings Per Share Dilutive Securities

We compute the effect of dilutive securities using the treasury stock method and average market prices during the period.

Intangible Assets

Property and Equipment, Capitalization and Useful Lives

ACQUISITIONS AND DISPOSITIONS (Tables)

12 Months Ended

Dec. 31, 2016

Business Combinations [Abstract]

Consideration Transferred and Results of Starwood Operations Included in Income Statements

The following table presents the results of Starwood operations included in our Income Statements from the Merger Date through year-end 2016.



($ in millions)	September 23, 2016 - December 31, 2016
Revenue	$	1,906
Net loss	$	(39	)

The following table presents the fair value of each class of consideration that we transferred.



(in millions, except per share amounts)
Equivalent shares of Marriott common stock issued in exchange for Starwood outstanding shares	134.4
Marriott common stock price as of Merger Date	$	68.44
Fair value of Marriott common stock issued in exchange for Starwood outstanding shares	9,198
Cash consideration to Starwood shareholders, net of cash acquired of $1,116	2,412
Fair value of Marriott equity-based awards issued in exchange for vested Starwood equity-based awards	71
Total consideration transferred, net of cash acquired	$	11,681

The following table presents pre-tax merger-related costs and other charges that we incurred in connection with the Starwood Combination.



($ in millions)	2016		2015
Merger-related costs and charges
Transaction costs	$	53	$	—
Employee termination costs	241		—
Integration costs	92		—
	386		—
Interest expense	22		—
	$	408	$	—

Preliminary Estimates of Fair Value of Assets Acquired and Liabilities Assume

Our preliminary estimates of fair values of the assets that we acquired and the liabilities that we assumed are based on information that was available as of the Merger Date, and we are continuing to evaluate the underlying inputs and assumptions used in our valuations. Accordingly, these preliminary estimates are subject to change during the measurement period, which is up to one year from the Merger Date. During the 2016 fourth quarter, we refined our valuation models to reflect changes in assumptions related to contractual terms (such as territorial provisions and royalty rates), operating margins, discount rates, tax rates, and growth rates.



($ in millions)	September 23, 2016 (as previously reported)			Adjustments			September 23, 2016 (as adjusted)
Working capital	$	(115	)	$	(65	)	$	(180	)
Property and equipment, including assets held for sale	2,045			(46		)	1,999
Identified intangible assets	8,573			(616		)	7,957
Equity and cost method investments	648			(69		)	579
Other noncurrent assets	207			17			224
Deferred income taxes, net	(1,845		)	329			(1,516		)
Guest loyalty program	(1,647		)	16			(1,631		)
Debt	(1,876		)	5			(1,871		)
Other noncurrent liabilities	(518		)	(136		)	(654		)
Net assets acquired	5,472			(565		)	4,907
Goodwill ⁽¹⁾	6,226			548			6,774
	$	11,698		$	(17	)	$	11,681


(1)	Goodwill primarily represents the value that we expect to obtain from synergies and growth opportunities from our combined operations, and it is not deductible for tax purposes. See Footnote 13 “Intangible Assets and Goodwill” for our preliminary assignment of goodwill by reportable segment.

Fair Values of Identified Intangible Assets and Their Estimated Useful Lives

Identified Intangible Assets. The following table presents our preliminary estimates of the fair values of Starwood’s identified intangible assets and their related estimated useful lives.



	Estimated Fair Value (in millions)		Estimated Useful Life (in years)
Brands	$	6,452	indefinite
Management Agreements and Lease Contract Intangibles	712		10-25
Franchise Agreements	744		10-80
Loyalty Program Marketing Rights	49		30
	$	7,957

Unaudited Pro Forma Information

The following unaudited pro forma information presents the combined results of operations of Marriott and Starwood as if we had completed the Starwood Combination on January 1, 2015, but using our preliminary fair values of assets and liabilities as of the Merger Date. As required by GAAP, these unaudited pro forma results do not reflect any cost saving synergies from operating efficiencies. Accordingly, we present these unaudited pro forma results for informational purposes only, and they are not necessarily indicative of what the actual results of operations of the combined company would have been if the Starwood Combination had occurred at the beginning of the period presented, nor are they indicative of future results of operations.



($ in millions)	2016		2015
Pro forma revenues	$	20,494	$	19,280
Pro forma net income	$	1,151	$	941

EARNINGS PER SHARE (Tables)

12 Months Ended

Dec. 31, 2016

Earnings Per Share [Abstract]

Reconciliation of the Earnings (Losses) and Number of Shares Used in Calculations of Basic and Diluted Earnings Per Share

The table below illustrates the reconciliation of the earnings and number of shares used in our calculations of basic and diluted earnings per share:



(in millions, except per share amounts)	2016		2015		2014
Computation of Basic Earnings Per Share
Net income	$	780	$	859	$	753
Shares for basic earnings per share	290.9		267.3		289.9
Basic earnings per share	$	2.68	$	3.22	$	2.60
Computation of Diluted Earnings Per Share
Net income	$	780	$	859	$	753
Shares for basic earnings per share	290.9		267.3		289.9
Effect of dilutive securities
Share-based compensation	4.8		5.5		6.9
Shares for diluted earnings per share	295.7		272.8		296.8
Diluted earnings per share	$	2.64	$	3.15	$	2.54

MERGER-RELATED COSTS AND CHARGES (Tables)

12 Months Ended

Dec. 31, 2016

Restructuring and Related Activities [Abstract]

Schedule by Type of Merger-Related Costs and Charges

The following table presents the results of Starwood operations included in our Income Statements from the Merger Date through year-end 2016.



($ in millions)	September 23, 2016 - December 31, 2016
Revenue	$	1,906
Net loss	$	(39	)

The following table presents the fair value of each class of consideration that we transferred.



(in millions, except per share amounts)
Equivalent shares of Marriott common stock issued in exchange for Starwood outstanding shares	134.4
Marriott common stock price as of Merger Date	$	68.44
Fair value of Marriott common stock issued in exchange for Starwood outstanding shares	9,198
Cash consideration to Starwood shareholders, net of cash acquired of $1,116	2,412
Fair value of Marriott equity-based awards issued in exchange for vested Starwood equity-based awards	71
Total consideration transferred, net of cash acquired	$	11,681

The following table presents pre-tax merger-related costs and other charges that we incurred in connection with the Starwood Combination.



($ in millions)	2016		2015
Merger-related costs and charges
Transaction costs	$	53	$	—
Employee termination costs	241		—
Integration costs	92		—
	386		—
Interest expense	22		—
	$	408	$	—

Restructuring Reserve Activity

The following table presents our restructuring reserve activity during 2016:



($ in millions)	Employee termination costs
Balance at year-end 2015	$	—
Charges	283
Cash payments	(64		)
Adjustments ⁽¹⁾	(27		)
Balance at year-end 2016, classified in “Accrued expenses and other”	$	192


⁽¹⁾	Adjustments primarily reflect the reversal of charges for certain employees who accepted other positions at the Company or resigned and the impact of cumulative translation adjustments.

SHARE-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Additional Information on RSUs

The following table provides additional information on RSUs for the last three fiscal years:



	2016		2015		2014
Share-based compensation expense (in millions)	$	204	$	103	$	98
Weighted average grant-date fair value (per RSU)	$	66	$	78	$	52
Aggregate intrinsic value of distributed RSUs (in millions)	$	190	$	195	$	144

Changes in Outstanding RSU Grants

The following table presents the changes in our outstanding RSU grants during 2016 and the associated weighted average grant-date fair values:



	Number of RSUs (in millions)		Weighted Average Grant-Date Fair Value (per RSU)
Outstanding at year-end 2015	4.9		$	53
Granted ⁽¹⁾	2.8		63
Issued in the Starwood Combination	2.7		68
Distributed	(2.9	)	50
Forfeited	(0.1	)	62
Outstanding at year-end 2016	7.4		$	61


⁽¹⁾	Includes 0.7 million PSUs.

Changes in Outstanding SARs

The following table presents the changes in our outstanding SARs during 2016 and the associated weighted average exercise prices:



	Number of SARs (in millions)		Weighted Average Exercise Price
Outstanding at year-end 2015	5.6		$	36
Granted	0.4		67
Exercised	(1.4	)	30
Outstanding at year-end 2016	4.6		$	40

Number of Employee SARs and Director SARs Granted, Associated Weighted Average Base Values, And Weighted Average Grant-Date Fair Values



Employee SARs	2016		2015		2014
Employee SARs granted (in millions)	0.4		0.3		0.3
Weighted average exercise price (per SAR)	$	67	$	83	$	53
Weighted average grant-date fair value (per SAR)	$	22	$	26	$	17
Director SARs	2016		2015		2014
Director SARs granted	3,507		2,773		3,277
Weighted average exercise price (per SAR)	$	69	$	80	$	59
Weighted average grant-date fair value (per SAR)	$	23	$	29	$	22

Assumptions Used to Determine the Fair Value of SARs

We used the following assumptions to determine the fair value of the SARs we granted to employees and non-employee directors in 2016, 2015, and 2014:



	2016		2015		2014
Expected volatility	30	%	30	%	29 - 30%
Dividend yield	1.33	%	1.04	%	1.14	%
Risk-free rate	1.7 - 2.4%		1.9 - 2.3%		2.2 - 2.8%
Expected term (in years)	8 - 10		6 - 10		6 - 10

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2016

Income Tax Disclosure [Abstract]

Components of Earnings Before Income Taxes

The components of our earnings before income taxes for the last three fiscal years consisted of:



($ in millions)	2016		2015		2014
U.S.	$	813	$	896	$	808
Non-U.S.	371		359		280
	$	1,184	$	1,255	$	1,088

Provision for Income Taxes

Our provision for income taxes for the last three fiscal years consists of:



($ in millions)		2016			2015			2014
Current	-U.S. Federal	$	(203	)	$	(167	)	$	(224	)
	-U.S. State	(41		)	(40		)	(43		)
	-Non-U.S.	(56		)	(50		)	(47		)
		(300		)	(257		)	(314		)

Deferred	-U.S. Federal	(61		)	(131		)	(21		)
	-U.S. State	(14		)	(7		)	(5		)
	-Non-U.S.	(29		)	(1		)	5
		(104		)	(139		)	(21		)
		$	(404	)	$	(396	)	$	(335	)

Unrecognized Tax Benefits Reconciliation

The following table reconciles our unrecognized tax benefit balance for each year from the beginning of 2014 to the end of 2016:



($ in millions)	Amount
Unrecognized tax benefit at beginning of 2014	$	34
Change attributable to tax positions taken during the current period	3
Decrease attributable to settlements with taxing authorities	(27		)
Decrease attributable to lapse of statute of limitations	—
Unrecognized tax benefit at year-end 2014	10
Change attributable to tax positions taken during the current period	15
Decrease attributable to settlements with taxing authorities	—
Decrease attributable to lapse of statute of limitations	(1		)
Unrecognized tax benefit at year-end 2015	24
Additions from Starwood Combination	387
Change attributable to tax positions taken in prior years	(3		)
Change attributable to tax positions taken during the current period	16
Decrease attributable to settlements with taxing authorities	(2		)
Decrease attributable to lapse of statute of limitations	(1		)
Unrecognized tax benefit at year-end 2016	$	421

Schedule of Deferred Tax Assets and Liabilities



($ in millions)	At Year-End 2016			At Year-End 2015
Employee benefits	$	430		$	348
Net operating loss carry-forwards	320			205
Accrued expenses and other reserves	204			63
Receivables, net	134			11
Tax credits	79			111
Frequent guest program	42			68
Deferred income	20			21
Self-insurance	15			21
Joint venture interests	(8		)	(49		)
Property and equipment	(199		)	(3		)
Intangibles	(1,724		)	(11		)
Other, net	32			34
Deferred taxes	(655		)	819
Less: valuation allowance	(249		)	(163		)
Net deferred taxes	$	(904	)	$	656

Reconciliation of the U.S. Statutory Tax Rate to Effective Income Tax Rate

The following table reconciles the U.S. statutory tax rate to our effective income tax rate for the last three fiscal years:



	2016		2015		2014
U.S. statutory tax rate	35.0	%	35.0	%	35.0	%
U.S. state income taxes, net of U.S. federal tax benefit	2.9		2.9		2.7
Non-U.S. income ⁽¹⁾	(6.8	)	(5.2	)	(4.8	)
Change in valuation allowance	0.3		1.2		(0.4	)
Tax credits	(0.4	)	(0.3	)	(0.3	)
Other, net	3.1		(2.1	)	(1.4	)
Effective rate	34.1	%	31.5	%	30.8	%


(1)	Includes differences between U.S. and foreign statutory rates as well as tax incentives and tax-exempt income from operations in certain foreign jurisdictions, which we consider to be equivalent to a reduction of the statutory tax rates in these jurisdictions.

COMMITMENTS AND CONTINGENCIES (Tables)

12 Months Ended

Dec. 31, 2016

Commitments and Contingencies Disclosure [Abstract]

Maximum Potential Amount of Future Fundings as the Primary Obligor for Guarantees and the Liability for Expected Future Fundings



($ in millions) Guarantee Type	Maximum Potential Amount of Future Fundings		Recorded Liability for Guarantees
Debt service	$	155	$	24
Operating profit	119		40
Other	8		2
Total guarantees where we are the primary obligor	$	282	$	66

LEASES (Tables)

12 Months Ended

Dec. 31, 2016

Leases [Abstract]

Future Minimum Lease Obligations

The following table presents our future minimum lease obligations, including leases that we assumed in the Starwood Combination, for which we are the primary obligor as of year-end 2016:



($ in millions)	Operating Leases		Capital Leases
2017	$	183	$	13
2018	173		13
2019	152		13
2020	130		13
2021	121		13
Thereafter	983		191
Total minimum lease payments where we are the primary obligor	$	1,742	$	256
Less: amount representing interest			83
Present value of minimum lease payments			$	173

Composition of Rent Expense Associated with Operating Leases

The following table details the composition of rent expense for operating leases for the last three years:



($ in millions)	2016		2015		2014
Minimum rentals	$	150	$	138	$	143
Additional rentals	67		65		64
	$	217	$	203	$	207

SELF-INSURANCE RESERVE FOR LOSSES AND LOSS ADJUSTMENT EXPENSES (Tables)

12 Months Ended

Dec. 31, 2016

Self-Insurance Reserve for Losses and Loss Adjustment Expenses Disclosure [Abstract]

Self-Insurance Reserve for Losses and Loss Adjustment Expenses

The following table summarizes the activity in our self-insurance reserve for losses and loss adjustment expenses as of year-end 2016 and 2015:



($ in millions)	2016			2015
Balance at beginning of year	$	416		$	384
Less: reinsurance recoverable	(3		)	(4		)
Net balance at beginning of year	413			380
Assumed in the Starwood Combination	91			—
Incurred related to:
Current year	140			141
Prior years	(20		)	(11		)
Total incurred	120			130
Paid related to:
Current year	(26		)	(27		)
Prior years	(79		)	(70		)
Total paid	(105		)	(97		)
Net balance at end of year	519			413
Add: reinsurance recoverable	3			3
Balance at end of year	$	522		$	416

Current portion classified in “Accrued expenses and other”	$	142		$	115
Noncurrent portion classified in “Other noncurrent liabilities”	380			301
	$	522		$	416

LONG-TERM DEBT (Tables)

12 Months Ended

Dec. 31, 2016

Debt Disclosure [Abstract]

Long-Term Debt

We provide detail on our long-term debt balances, net of discounts, premiums, and debt issuance costs, in the following table at year-end 2016 and 2015:



($ in millions)	At Year-End 2016			At Year-End 2015
Senior Notes:
Series H Notes, interest rate of 6.2%, face amount of $289, maturing June 15, 2016 (effective interest rate of 6.3%)	$	—		$	289
Series I Notes, interest rate of 6.4%, face amount of $293, maturing June 15, 2017 (effective interest rate of 6.5%)	293			293
Series K Notes, interest rate of 3.0%, face amount of $600, maturing March 1, 2019 (effective interest rate of 4.4%)	597			595
Series L Notes, interest rate of 3.3%, face amount of $350, maturing September 15, 2022 (effective interest rate of 3.4%)	348			348
Series M Notes, interest rate of 3.4%, face amount of $350, maturing October 15, 2020 (effective interest rate of 3.6%)	347			347
Series N Notes, interest rate of 3.1%, face amount of $400, maturing October 15, 2021 (effective interest rate of 3.4%)	396			395
Series O Notes, interest rate of 2.9%, face amount of $450, maturing March 1, 2021 (effective interest rate of 3.1%)	446			446
Series P Notes, interest rate of 3.8%, face amount of $350, maturing October 1, 2025 (effective interest rate of 4.0%)	344			343
Series Q Notes, interest rate of 2.3%, face amount of $750, maturing January 15, 2022 (effective interest rate of 2.5%)	742			—
Series R Notes, interest rate of 3.1%, face amount of $750, maturing June 15, 2026 (effective interest rate of 3.3%)	742			—
Series S Notes, interest rate of 6.8%, face amount of $324, maturing May 15, 2018 (effective interest rate of 1.7%)	346			—
Series T Notes, interest rate of 7.2%, face amount of $181, maturing December 1, 2019 (effective interest rate of 2.3%)	206			—
Series U Notes, interest rate of 3.1%, face amount of $291, maturing February 15, 2023 (effective interest rate of 3.1%)	291			—
Series V Notes, interest rate of 3.8%, face amount of $318, maturing March 15, 2025 (effective interest rate of 2.8%)	340			—
Series W Notes, interest rate of 4.5%, face amount of $278, maturing October 1, 2034 (effective interest rate of 4.1%)	293			—
Commercial paper	2,311			938
Credit Facility	—			—
Capital lease obligations	173			5
Other	291			108
	$	8,506		$	4,107
Less: Current portion of long-term debt	(309		)	(300		)
	$	8,197		$	3,807

Future Principal Payments for Debt

The following table presents future principal payments, net of discounts, premiums, and debt issuance costs, for our debt as of year-end 2016:



Debt Principal Payments ($ in millions)	Amount
2017	$	309
2018	410
2019	857
2020	364
2021	3,171
Thereafter	3,395
Balance at year-end 2016	$	8,506

Compensation and Retirement Disclosure [Abstract]

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6479336&loc=d3e64711-112823

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=64930739&loc=d3e28878-108400

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21538-112644

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=64930785&loc=d3e28541-108399

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=64930785&loc=d3e28551-108399

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21521-112644

+ Details

PENSION AND OTHER POSTRETIREMENT BENEFITS (Tables)

12 Months Ended

Dec. 31, 2016

Benefit Obligation, Fair Value of Plans, the Funded Status and the Accumulated Benefit Obligation of Defined Benefit Pension and Postretirement Benefit Plans

The following tables show the fair value of plan assets, accumulated benefit obligation, and the funded status of our defined benefit pension and postretirement benefit plans at December 31, 2016:



($ in millions)	Domestic Pension Benefits			Foreign Pension Benefits			Postretirement Benefits
Change in Plan Assets
Fair value of plan assets at Merger Date	$	—		$	278		$	—
Actual return on plan assets, net of expenses	—			(10		)	—
Employer contribution	1			2			—
Effect of foreign exchange rates	—			(6		)	—
Benefits paid	(1		)	(2		)	—
Fair value of plan assets at year-end	$	—		$	262		$	—



($ in millions)	Domestic Pension Benefits			Foreign Pension Benefits			Postretirement Benefits
Change in Benefit Obligation
Benefit obligations at Merger Date	$	23		$	251		$	16
Interest cost	—			2			—
Actuarial gain	(1		)	(17		)	(1		)
Effect of foreign exchange rates	—			(5		)	—
Benefits paid	(1		)	(2		)	—
Accumulated benefit obligation balance	21			229			15
Overfunded (underfunded) status	$	(21	)	$	33		$	(15	)

The following table shows the benefit obligations for pension plans with accumulated benefit obligations that exceed the fair value of plan assets:



($ in millions)	Domestic Pension Benefits		Foreign Pension Benefits		Postretirement Benefits
Plans with Accumulated Benefit Obligations in excess of Plan Assets
Projected benefit obligation	$	21	$	7	n/a
Accumulated benefit obligation	$	21	$	7	n/a

Assumptions Used

The weighted average assumptions used to determine benefit obligations at year-end 2016 were as follows:



	Domestic Pension Benefits		Foreign Pension Benefits		Postretirement Benefits
Discount rate	3.75	%	3.54	%	3.74	%
Rate of compensation increase	n/a		3.02	%	n/a

Fair Value Hierarchy of the Plan Assets Measured at Fair Value on a Recurring Basis

The following table presents our fair value hierarchy of the plan assets at year-end 2016:



($ in millions)	Level 1		Level 2		Level 3		Total
Assets:
Mutual funds	$	79	$	—	$	—	$	79
Collective trusts	—		1		93		94
Equity index trusts	77		—		—		77
Money markets	1		9		—		10
Bond index funds	—		2		—		2
	$	157	$	12	$	93	$	262

Anticipated Pension and Postretirement Benefit Plan Payments

The following table shows our expected future pension and postretirement benefit plan payments for the next ten years:



($ in millions)	Domestic Pension Benefits		Foreign Pension Benefits		Postretirement Benefits		Total
2017	$	2	$	15	$	1	$	18
2018	2		9		1		12
2019	2		10		1		13
2020	2		10		1		13
2021	2		10		1		13
2022-2026	7		54		5		66

INTANGIBLE ASSETS AND GOODWILL (Tables)

12 Months Ended

Dec. 31, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

Composition of Intangible Assets, Finite-Lived

The following table details the composition of our intangible assets at year-end 2016 and 2015:



($ in millions)	At Year-End 2016			At Year-End 2015
Definite-lived Intangible Assets
Contract acquisition costs and other	$	3,276		$	1,702
Accumulated amortization	(447		)	(380		)
	2,829			1,322
Indefinite-lived Intangible Brand Assets	6,441			129
	$	9,270		$	1,451

Composition of Intangible Assets, Indefinite-Lived

The following table details the composition of our intangible assets at year-end 2016 and 2015:



($ in millions)	At Year-End 2016			At Year-End 2015
Definite-lived Intangible Assets
Contract acquisition costs and other	$	3,276		$	1,702
Accumulated amortization	(447		)	(380		)
	2,829			1,322
Indefinite-lived Intangible Brand Assets	6,441			129
	$	9,270		$	1,451

Carrying Amount of Goodwill

The following table details the carrying amount of our goodwill at year-end 2016 and 2015:



($ in millions)	North American Full-Service Segment			North American Limited-Service Segment			International			Total Goodwill
Year-end 2015 balance:
Goodwill	$	409		$	125		$	463		$	997
Accumulated impairment losses	—			(54		)	—			(54		)
	409			71			463			943

Additions	$	2,500		$	1,434		$	2,840		$	6,774
Foreign currency translation	(4		)	(1		)	(114		)	(119		)

Year-end 2016 balance:
Goodwill	$	2,905		$	1,558		$	3,189		$	7,652
Accumulated impairment losses	—			(54		)	—			(54		)
	$	2,905		$	1,504		$	3,189		$	7,598

NOTES RECEIVABLE (Tables)

12 Months Ended

Dec. 31, 2016

Receivables [Abstract]

Composition of our Notes Receivable Balances (Net of Reserves and Unamortized Discounts)

The following table presents the composition of our notes receivable balances (net of reserves and unamortized discounts) at year-end 2016 and 2015:



($ in millions)	At Year-End 2016			At Year-End 2015
Senior, mezzanine, and other loans	$	248		$	221
Less current portion	(3		)	(6		)
	$	245		$	215

Notes Receivable Expected Future Principal Payments

The following table presents the expected future principal payments (net of reserves and unamortized discounts) as well as interest rates for our notes receivable as of year-end 2016:



Notes Receivable Principal Payments ($ in millions)	Amount
2017	$	3
2018	77
2019	21
2020	17
2021	48
Thereafter	82
Balance at year-end 2016	$	248
Weighted average interest rate at year-end 2016	6.9%
Range of stated interest rates at year-end 2016	0 - 18%

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 2016

Fair Value Disclosures [Abstract]

Carrying Values and Fair Values of Non-Current Financial Assets and Liabilities

We present the carrying values and the fair values of noncurrent financial assets and liabilities that qualify as financial instruments, determined under current guidance for disclosures on the fair value of financial instruments, in the following table:



	At Year-End 2016						At Year-End 2015
($ in millions)	Carrying Amount			Fair Value			Carrying Amount			Fair Value
Senior, mezzanine, and other loans	$	245		$	231		$	215		$	209
Total noncurrent financial assets	$	245		$	231		$	215		$	209

Senior Notes	$	(5,438	)	$	(5,394	)	$	(2,766	)	$	(2,826	)
Commercial paper	(2,311		)	(2,311		)	(938		)	(938		)
Other long-term debt	(280		)	(284		)	(99		)	(108		)
Other noncurrent liabilities	(59		)	(59		)	(63		)	(63		)
Total noncurrent financial liabilities	$	(8,088	)	$	(8,048	)	$	(3,866	)	$	(3,935	)

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)

12 Months Ended

Dec. 31, 2016

Equity [Abstract]

Accumulated Other Comprehensive (Loss) Income Activity

The following table details the accumulated other comprehensive (loss) income activity for 2016, 2015, and 2014:



($ in millions)	Foreign Currency Translation Adjustments			Derivative Instrument Adjustments			Available-For-Sale Securities Unrealized Adjustments			Pension and Postretirement Adjustments		Accumulated Other Comprehensive Loss
Balance at year-end 2013	$	(31	)	$	(19	)	$	6		$	—	$	(44	)
Other comprehensive (loss) income before reclassifications ⁽¹⁾	(41		)	8			5			—		(28		)
Amounts reclassified from accumulated other comprehensive loss	—			2			—			—		2
Net other comprehensive (loss) income	(41		)	10			5			—		(26		)
Balance at year-end 2014	$	(72	)	$	(9	)	$	11		$	—	$	(70	)
Other comprehensive (loss) income before reclassifications ⁽¹⁾	(123		)	10			(7		)	—		(120		)
Amounts reclassified from accumulated other comprehensive loss	3			(9		)	—			—		(6		)
Net other comprehensive (loss) income	(120		)	1			(7		)	—		(126		)
Balance at year-end 2015	$	(192	)	$	(8	)	$	4		$	—	$	(196	)
Other comprehensive (loss) income before reclassifications ⁽¹⁾	(311		)	1			2			5		(303		)
Amounts reclassified from accumulated other comprehensive loss	—			2			—			—		2
Net other comprehensive (loss) income	(311		)	3			2			5		(301		)
Balance at year-end 2016	$	(503	)	$	(5	)	$	6		$	5	$	(497	)


⁽¹⁾	Other comprehensive (loss) income before reclassifications for foreign currency translation adjustments includes gains on intra-entity foreign currency transactions that are of a long-term investment nature of $69 million for 2016, $48 million for 2015, and $28 million for 2014.

BUSINESS SEGMENTS (Tables)

12 Months Ended

Dec. 31, 2016

Segment Reporting [Abstract]

Segment Revenues



($ in millions)	2016		2015		2014
North American Full-Service segment	$	10,376	$	8,825	$	8,323
North American Limited-Service segment	3,561		3,193		2,962
International	2,636		2,200		2,255
Total segment revenues ⁽¹⁾	16,573		14,218		13,540
Other unallocated corporate	499		268		256
Total consolidated revenues	$	17,072	$	14,486	$	13,796


⁽¹⁾	Revenues attributed to operations located outside the United States were $3,181 million in 2016, $2,761 million in 2015, and $2,518 million in 2014.

Segment Profits



($ in millions)	2016			2015			2014
North American Full-Service segment	$	777		$	561		$	524
North American Limited-Service segment	698			651			574
International	407			292			295
Total segment profits ⁽¹⁾	1,882			1,504			1,393
Other unallocated corporate	(499		)	(111		)	(220		)
Interest expense and interest income	(199		)	(138		)	(85		)
Income taxes	(404		)	(396		)	(335		)
	$	780		$	859		$	753


⁽¹⁾	Segment profits attributed to operations located outside the United States were $462 million in 2016, $329 million in 2015, and $327 million in 2014. The 2016 segment profits consisted of segment profits of $176 million from Asia Pacific, $105 million from Europe, $87 million from the Caribbean and Latin America, $55 million from Canada, and $39 million from the Middle East and Africa.

Depreciation and Amortization

preciation and Amortization



($ in millions)	2016		2015		2014
North American Full-Service segment	$	67	$	55	$	52
North American Limited-Service segment	23		21		22
International	57		40		42
Total segment depreciation and amortization	147		116		116
Other unallocated corporate ⁽¹⁾	21		23		32
	$	168	$	139	$	148


⁽¹⁾	Includes no impairment charges in 2016, $12 million in 2015, and $25 million in 2014 on EDITION hotels and residences. See Footnote 3 “Acquisitions and Dispositions” for more information.

Capital Expenditures



($ in millions)	2016		2015		2014
North American Full-Service segment	$	35	$	120	$	251
North American Limited-Service segment	7		7		5
International	39		86		87
Total segment capital expenditures	81		213		343
Other unallocated corporate	118		92		68
	$	199	$	305	$	411

RELATED PARTY TRANSACTIONS (Tables)

12 Months Ended

Dec. 31, 2016

Financial Data Resulting from Transactions with Related Parties, Income Statement Data

The following tables present financial data resulting from transactions with these related parties:

Income Statement Data



($ in millions)	2016			2015			2014
Base management fees	$	18		$	15		$	17
Incentive management fees	10			3			6
Owned, leased, and other revenue	—			1			1
Cost reimbursements	193			197			226
Total revenue	$	221		$	216		$	250

Reimbursed costs	$	(193	)	$	(197	)	$	(226	)
Depreciation, amortization, and other	(2		)	(2		)	(2		)
General, administrative, and other	—			(1		)	(2		)
Gains and other income	1			—			—
Interest income	5			5			5
Equity in earnings	10			16			6

Financial Data Resulting from Transactions with Related Parties, Balance Sheet Data

Balance Sheet Data



($ in millions)	At Year-End 2016			At Year-End 2015
Current assets
Accounts and notes receivable, net	$	27		$	29
Other	1			1
Intangible assets
Contract acquisition costs and other	23			30
Equity method investments	723			159
Other noncurrent assets	17			17
Deferred tax assets	6			—
Current liabilities
Accounts payable	(4		)	(10		)
Accrued expenses and other	(22		)	(12		)
Deferred tax liabilities	(56		)	(4		)
Other noncurrent liabilities	(4		)	(3		)

Summarized Information for the Entities Equity Method Investments, Income Statement

The following tables present summarized financial information for the entities in which we have equity method investments:



($ in millions)	2016 ⁽¹⁾		2015		2014
Sales	$	747	$	615	$	752
Net income	$	101	$	44	$	38

Summarized Information for the Entities Equity Method Investments, Balance Sheet



($ in millions)	At Year-End 2016		At Year-End 2015
Assets (primarily composed of hotel real estate managed by us)	$	2,249	$	1,218
Liabilities	$	1,677	$	1,110

SUPPLEMENTARY DATA QUARTERLY FINANCIAL DATA - UNAUDITED (Tables)

12 Months Ended

Dec. 31, 2016

Quarterly Financial Information Disclosure [Abstract]

Schedule of Quarterly Financial Information



($ in millions, except per share data)	2016
	First Quarter		Second Quarter		Third Quarter		Fourth Quarter		Fiscal Year
Revenues	$	3,772	$	3,902	$	3,942	$	5,456	$	17,072
Operating income	$	367	$	389	$	171	$	441	$	1,368
Net income	$	219	$	247	$	70	$	244	$	780
Diluted earnings per share ⁽¹⁾	$	0.85	$	0.96	$	0.26	$	0.62	$	2.64



($ in millions, except per share data)	2015
	First Quarter		Second Quarter		Third Quarter		Fourth Quarter		Fiscal Year
Revenues	$	3,513	$	3,689	$	3,578	$	3,706	$	14,486
Operating income	$	332	$	369	$	339	$	310	$	1,350
Net income	$	207	$	240	$	210	$	202	$	859
Diluted earnings per share	$	0.73	$	0.87	$	0.78	$	0.77	$	3.15


⁽¹⁾	The sum of the earnings per share for the four quarters differs from annual earnings per share due to the required method of computing the weighted average shares in interim periods.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Additional Information (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Significant Accounting Policies [Line Items]
Licensing fees from MVW and Vistana after spin-off										$ 73,000,000	$ 59,000,000	$ 60,000,000
Liability for guest loyalty program	$ 4,541,000,000				$ 2,574,000,000					$ 4,541,000,000	2,574,000,000
Reduction in estimate of breakage										10.00%
Increase in liability for guest loyalty program, contingent upon reduction in the estimate of breakage	232,000,000									$ 232,000,000
Gains (losses) from currency exchange rate transactions										$ 4,000,000	6,000,000	16,000,000
Normal collection period for accounts receivable										30 days
Accounts receivable reserve	$ 20,000,000				$ 25,000,000					$ 20,000,000	25,000,000
Goodwill impairment charge										$ 0	0	0
Discount rate	2.00%									2.00%
Income taxes										$ 404,000,000	$ 396,000,000	$ 335,000,000
Earnings per share - diluted (in USD per share)	$ 0.62	$ 0.26	$ 0.96	$ 0.85	$ 0.77	$ 0.78	$ 0.87	$ 0.73		$ 2.64	$ 3.15	$ 2.54
Minimum \| Accounting Standards Update 2016-09 \| Scenario, Forecast
Significant Accounting Policies [Line Items]
Income taxes									$ (41,000,000)
Earnings per share - diluted (in USD per share)									$ 0
Profit Sharing
Significant Accounting Policies [Line Items]
Compensation costs from profit sharing										$ 91,000,000	$ 80,000,000	$ 76,000,000

ACQUISITIONS AND DISPOSITIONS - Starwood Acquisition (Details) $ / shares in Units, property in Thousands, room in Millions, $ in Millions		12 Months Ended
	Sep. 23, 2016 USD ($) hotel $ / shares shares	Dec. 31, 2016 USD ($) renewal_option brand country property room	Dec. 31, 2015 USD ($)
Business Acquisition [Line Items]
Number of properties \| property		6
Number of rooms \| room		1.2
Number of brands \| brand		30
Number of contracts \| country		122
Initial lease terms		20 years
Minimum
Business Acquisition [Line Items]
Agreement term		15 years
Number of lease renewal terms \| renewal_option		1
Lease renewal terms		5 years
Maximum
Business Acquisition [Line Items]
Agreement term		30 years
Lease renewal terms		10 years
Starwood Hotels & Resorts
Business Acquisition [Line Items]
Payments to acquire business (in USD per share) \| $ / shares	$ 21.00
Number of hotels acquired \| hotel	15
Integration costs		$ 113
Transaction and employee termination costs			$ 397
Starwood Hotels & Resorts \| Licensing Agreement
Business Acquisition [Line Items]
Agreement term	80 years
Annual fixed license fee	$ 30
Starwood Hotels & Resorts \| Common Stock
Business Acquisition [Line Items]
Equity interests issuable per share owned by acquiree (in shares) \| shares	0.80

ACQUISITIONS AND DISPOSITIONS - Starwood Consideration Transferred (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions		12 Months Ended
	Sep. 23, 2016	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Business Acquisition [Line Items]
Cash consideration to Starwood shareholders, net of cash acquired of $1,116		$ 2,412	$ 137	$ 184
Starwood Hotels & Resorts
Business Acquisition [Line Items]
Equivalent shares of Marriott common stock issued in exchange for Starwood outstanding shares (in USD per share)	134.4
Marriott common stock price as of Merger Date (in USD per share)	$ 68.44
Fair value of Marriott common stock issued in exchange for Starwood outstanding shares	$ 9,198
Cash consideration to Starwood shareholders, net of cash acquired of $1,116	2,412
Fair value of Marriott equity-based awards issued in exchange for vested Starwood equity-based awards	71
Total consideration transferred, net of cash acquired	11,681
Cash acquired	$ 1,116

ACQUISITIONS AND DISPOSITIONS - Starwood Allocation of Fair Value of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Millions	Sep. 23, 2016	Dec. 31, 2016	Dec. 31, 2015
Business Acquisition [Line Items]
Goodwill		$ 7,598	$ 943
Starwood Hotels & Resorts
Business Acquisition [Line Items]
Working capital	$ (180)
Working capital, adjustments	(65)
Property and equipment, including assets held for sale	1,999
Property and equipment, including assets held for sale, adjustments	(46)
Identified intangible assets	7,957
Identified intangible assets, adjustments	(616)
Equity and cost method investments	579
Equity and cost method investments, adjustments	(69)
Other noncurrent assets	224
Other noncurrent assets, adjustments	17
Deferred income taxes, net	(1,516)
Deferred income taxes, net, adjustments	329
Guest loyalty program	(1,631)
Guest loyalty program, adjustments	16
Debt	(1,871)
Debt, adjustments	5
Other noncurrent liabilities	(654)
Other noncurrent liabilities, adjustments	(136)
Net assets acquired	4,907
Net assets acquired, adjustments	(565)
Goodwill	6,774
Goodwill, adjustments	548
Fair value of assets acquired and liabilities assumed, net	11,681
Fair value of assets acquired and liabilities assumed, net, adjustments	(17)
Scenario, Previously Reported \| Starwood Hotels & Resorts
Business Acquisition [Line Items]
Working capital	(115)
Property and equipment, including assets held for sale	2,045
Identified intangible assets	8,573
Equity and cost method investments	648
Other noncurrent assets	207
Deferred income taxes, net	(1,845)
Guest loyalty program	(1,647)
Debt	(1,876)
Other noncurrent liabilities	(518)
Net assets acquired	5,472
Goodwill	6,226
Fair value of assets acquired and liabilities assumed, net	$ 11,698

ACQUISITIONS AND DISPOSITIONS - Starwood Fair Value and Estimated Useful Lives of Identifiable Intangible Assets (Details) - Starwood Hotels & Resorts $ in Millions	Sep. 23, 2016 USD ($)
Business Acquisition [Line Items]
Estimated Fair Value (in millions)	$ 7,957
Management Agreements and Lease Contract Intangibles
Business Acquisition [Line Items]
Estimated Fair Value (in millions)	$ 712
Management Agreements and Lease Contract Intangibles \| Minimum
Business Acquisition [Line Items]
Estimated Useful Life (in years)	10 years
Management Agreements and Lease Contract Intangibles \| Maximum
Business Acquisition [Line Items]
Estimated Useful Life (in years)	25 years
Franchise Agreements
Business Acquisition [Line Items]
Estimated Fair Value (in millions)	$ 744
Franchise Agreements \| Minimum
Business Acquisition [Line Items]
Estimated Useful Life (in years)	10 years
Franchise Agreements \| Maximum
Business Acquisition [Line Items]
Estimated Useful Life (in years)	80 years
Loyalty Program Marketing Rights
Business Acquisition [Line Items]
Estimated Fair Value (in millions)	$ 49
Estimated Useful Life (in years)	30 years
Brands
Business Acquisition [Line Items]
Estimated Fair Value (in millions)	$ 6,452

ACQUISITIONS AND DISPOSITIONS - Starwood Pro Forma Results of Operations (Details) - Starwood Hotels & Resorts - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Business Acquisition [Line Items]
Pro forma revenues	$ 20,494	$ 19,280
Pro forma net income	$ 1,151	$ 941

ACQUISITIONS AND DISPOSITIONS - Starwood Results of Operations (Details) - Starwood Hotels & Resorts $ in Millions	3 Months Ended
	Dec. 31, 2016 USD ($)
Business Acquisition [Line Items]
Revenue	$ 1,906
Net loss	$ (39)

ACQUISITIONS AND DISPOSITIONS - 2016 Dispositions (Details) $ in Millions	3 Months Ended
	Dec. 31, 2016 USD ($) hotel	Jun. 30, 2016 USD ($)	Dec. 31, 2015 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets held for sale	$ 588		$ 78
Assets Held for Sale \| Hotels Acquired Through Starwood Combination
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets held for sale	588
Liabilities associated with assets held for sale	$ 26
Number of hotels \| hotel	2
Assets Sold \| North American, Full-Service Property
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash received from sale of property	$ 165
Assets Sold \| North American, Limited-Service Plot of Land
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash received from sale of property		$ 46

ACQUISITIONS AND DISPOSITIONS - 2015 Acquisitions (Details) CAD in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2015 CAD hotel_and_resort room	Jun. 30, 2015 USD ($) hotel_and_resort room	Sep. 30, 2015 CAD	Sep. 30, 2015 USD ($)	Dec. 31, 2016 USD ($)	Dec. 31, 2015 USD ($)	Sep. 30, 2015 USD ($)
Business Acquisition [Line Items]
Goodwill \| $					$ 7,598	$ 943
Delta Hotels and Resorts
Business Acquisition [Line Items]
Payments to acquire business	CAD 170	$ 134
Working capital transferred	2	2
Total purchase price	CAD 172	$ 136
Intangible assets recognized			CAD 161				$ 127
Contracts assets			22	$ 17
Indefinite-lived brand intangible			115				91
Goodwill			24				19
Tangible assets			CAD 11				$ 9
Number of open hotels and resorts acquired	37	37
Number of rooms acquired \| room	9,590	9,590
Number of properties under management agreements acquired	27	27
Number of properties under franchise agreements acquired	10	10
Number of hotels under development acquired	5	5

ACQUISITIONS AND DISPOSITIONS - 2015 Dispositions (Details) € in Millions, $ in Millions	3 Months Ended					6 Months Ended	12 Months Ended
	Dec. 31, 2015 USD ($)	Sep. 30, 2015 USD ($) hotel	Jun. 30, 2015 USD ($)	Mar. 31, 2015 USD ($)	Mar. 31, 2015 EUR (€)	Jun. 30, 2015 USD ($)	Dec. 31, 2015 USD ($) residence	Dec. 31, 2016 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of hotels sold as part of redemption of equity method investment \| hotel		2
Proceeds from redemption of equity method investment		$ 42
Assets held for sale	$ 78						$ 78	$ 588
Miami Beach Edition and New York Edition Hotels
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash received from sale of property						$ 566
Miami Beach EDITION
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash received from sale of property							20
Assets held for sale	31						31
Liabilities associated with assets held for sale	2						$ 2
Number of residences sold \| residence							5
Assets Held For Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets held for sale	78						$ 78
Accrued expenses and other
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Liabilities associated with assets held for sale	3						3
Other unallocated corporate \| Depreciation, Amortization, and Other \| Miami Beach EDITION
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment charge				$ 6
Other unallocated corporate \| Depreciation, Amortization, and Other \| New York City EDITION
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment charge				6
International
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash received from sale of property	62
Cash received from sale of property				$ 27	€ 24
International \| Gains and Other Income, Net
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on sale of property	11
North American Limited-Service segment \| North American, Limited-Service Plot of Land
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets held for sale	47						47
Liabilities associated with assets held for sale	$ 1						$ 1
North American Limited-Service segment \| Gains and Other Income, Net
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment charge			$ 4

EARNINGS PER SHARE - Reconciliation of the Earnings (Losses) and Number of Shares Used in Calculations of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Computation of Basic Earnings Per Share
Net income	$ 244	$ 70	$ 247	$ 219	$ 202	$ 210	$ 240	$ 207	$ 780	$ 859	$ 753
Shares for basic earnings per share (in shares)									290.9	267.3	289.9
Basic earnings per share (in USD per share)									$ 2.68	$ 3.22	$ 2.60
Computation of Diluted Earnings Per Share
Net income	$ 244	$ 70	$ 247	$ 219	$ 202	$ 210	$ 240	$ 207	$ 780	$ 859	$ 753
Shares for basic earnings per share (in shares)									290.9	267.3	289.9
Effect of dilutive securities
Share-based compensation									4.8	5.5	6.9
Shares for diluted earnings per share (in shares)									295.7	272.8	296.8
Diluted earnings per share (in USD per share)	$ 0.62	$ 0.26	$ 0.96	$ 0.85	$ 0.77	$ 0.78	$ 0.87	$ 0.73	$ 2.64	$ 3.15	$ 2.54

MERGER-RELATED COSTS AND CHARGES - Types of Merger-Related Costs and Charges (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Restructuring Cost and Reserve [Line Items]
Transaction and integration costs	$ 386	$ 0	$ 0
Interest expense	234	167	$ 115
Starwood Hotels & Resorts
Restructuring Cost and Reserve [Line Items]
Transaction costs	53	0
Transaction and integration costs	386	0
Interest expense	22	0
Transaction, integration, and interest costs	408	0
Starwood Hotels & Resorts \| Employee termination costs
Restructuring Cost and Reserve [Line Items]
Integration costs	241	0
Starwood Hotels & Resorts \| Integration costs
Restructuring Cost and Reserve [Line Items]
Integration costs	$ 92	$ 0

EARNINGS PER SHARE - Additional Information (Details) - shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Employee stock option and stock appreciation rights
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Securities not included in the calculation of diluted earnings per share (in shares)	300,000	200,000	0

MERGER-RELATED COSTS AND CHARGES - Restructuring Reserve Activity (Details) $ in Millions	12 Months Ended
	Dec. 31, 2016 USD ($)
Restructuring Reserve [Roll Forward]
Beginning balance	$ 0
Charges	283
Cash payments	(64)
Adjustments	(27)
Ending balance	$ 192

SHARE-BASED COMPENSATION - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 212	$ 113	$ 109
Deferred compensation costs related to unvested awards	$ 192	116
Deferred compensation costs related to unvested awards, weighted average period	2 years
Tax benefit from share-based compensation	$ 32	34	92
Cash received from exercise of stock options	$ 2	6	86
Shares reserved under the stock plan (in shares)	35,000,000
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	4 years
Share-based compensation expense	$ 204	103	98
Deferred compensation costs related to unvested awards	$ 188	112
Granted (in shares)	2,800,000
Weighted average remaining term for grants outstanding	2 years
PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	700,000
PSUs \| Certain Executive Officers
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Granted (in shares)	200,000
PSUs \| Senior Leaders and Members of Starwood Acquisition Team
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Granted (in shares)	500,000
SARs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 8	7	$ 8
Deferred compensation costs related to unvested awards	$ 4	3
Granted (in shares)	400,000
Intrinsic value of stock appreciation rights outstanding	$ 196	232
Intrinsic value of stock appreciation rights exercisable	179	209
Intrinsic value of stock appreciation rights exercised	$ 58	$ 23
SARs \| Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	4 years
Granted (in shares)	400,000	300,000	300,000
Expiration period	10 years
SARs \| Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	3,507	2,773	3,277
Expiration period	10 years
Period until exercisable	1 year
Starwood Hotels & Resorts
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Deferred compensation costs related to unvested awards	$ 42
Starwood Long-Term Incentive Compensation Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years

SHARE-BASED COMPENSATION - Additional Information on RSUs (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Reconciliation of Restricted Stock Activity [Line Items]
Share-based compensation expense (in millions)	$ 212	$ 113	$ 109
RSUs
Reconciliation of Restricted Stock Activity [Line Items]
Share-based compensation expense (in millions)	$ 204	$ 103	$ 98
Weighted average grant-date fair value (in USD per share)	$ 66	$ 78	$ 52
Aggregate intrinsic value of distributed RSUs (in millions)	$ 190	$ 195	$ 144

SHARE-BASED COMPENSATION - Changes in Outstanding RSU Grants (Details) shares in Millions	12 Months Ended
	Dec. 31, 2016 $ / shares shares
Number of RSUs (in millions)
Issued in the Starwood Combination (in shares)	2.7
Weighted Average Grant-Date Fair Value (per RSU)
Issued in the Starwood Combination (in USD per share) \| $ / shares	$ 68
PSUs
Number of RSUs (in millions)
Granted (in shares)	0.7
RSUs
Number of RSUs (in millions)
Outstanding beginning balance (in shares)	4.9
Granted (in shares)	2.8
Distributed (in shares)	(2.9)
Forfeited (in shares)	(0.1)
Outstanding ending balance (in shares)	7.4
Weighted Average Grant-Date Fair Value (per RSU)
Outstanding beginning balance (in USD per share) \| $ / shares	$ 53
Granted (in USD per share) \| $ / shares	63
Distributed (in USD per share) \| $ / shares	50
Forfeited (in USD per share) \| $ / shares	62
Outstanding ending balance (in USD per share) \| $ / shares	$ 61

SHARE-BASED COMPENSATION - Changes in Outstanding SARs (Details) - SARs shares in Millions	12 Months Ended
	Dec. 31, 2016 $ / shares shares
Number of SARs (in millions)
Outstanding beginning balance (in shares) \| shares	5.6
Granted (in shares) \| shares	0.4
Exercised (in shares) \| shares	(1.4)
Outstanding ending balance (in shares) \| shares	4.6
Weighted Average Exercise Price
Outstanding beginning balance (in USD per share) \| $ / shares	$ 36
Granted (in USD per share) \| $ / shares	67
Exercised (in USD per share) \| $ / shares	30
Outstanding ending balance (in USD per share) \| $ / shares	$ 40

SHARE-BASED COMPENSATION - Number of Employee SARs and Director SARs Granted, Associated Weighted Average Base Values, And Weighted Average Grant-Date Fair Values (Details) - SARs - $ / shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	400,000
Weighted average grant-date fair value (in USD per share)	$ 67
Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	400,000	300,000	300,000
Weighted average exercise price (in USD per share)	$ 67	$ 83	$ 53
Weighted average grant-date fair value (in USD per share)	$ 22	$ 26	$ 17
Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	3,507	2,773	3,277
Weighted average exercise price (in USD per share)	$ 69	$ 80	$ 59
Weighted average grant-date fair value (in USD per share)	$ 23	$ 29	$ 22

SHARE-BASED COMPENSATION - Assumptions for the Fair Value of SARs (Details) - SARs	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Share based Compensation Arrangement by Share based Payment Award, Fair Value Assumptions, Method Used [Line Items]
Expected volatility	30.00%	30.00%
Dividend yield	1.33%	1.04%	1.14%
Minimum
Share based Compensation Arrangement by Share based Payment Award, Fair Value Assumptions, Method Used [Line Items]
Expected volatility			29.00%
Risk-free rate	1.70%	1.90%	2.20%
Expected term (in years)	8 years	6 years	6 years
Maximum
Share based Compensation Arrangement by Share based Payment Award, Fair Value Assumptions, Method Used [Line Items]
Expected volatility			30.00%
Risk-free rate	2.40%	2.30%	2.80%
Expected term (in years)	10 years	10 years	10 years

INCOME TAXES - Components of Earnings Before Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
U.S.	$ 813	$ 896	$ 808
Non-U.S.	371	359	280
Earnings before income taxes	$ 1,184	$ 1,255	$ 1,088

INCOME TAXES - Provision for Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Current
-U.S. Federal	$ (203)	$ (167)	$ (224)
-U.S. State	(41)	(40)	(43)
-Non-U.S.	(56)	(50)	(47)
Current income tax expense	(300)	(257)	(314)
Deferred
-U.S. Federal	(61)	(131)	(21)
-U.S. State	(14)	(7)	(5)
-Non-U.S.	(29)	(1)	5
Deferred income tax expense	(104)	(139)	(21)
Provision for income taxes	$ (404)	$ (396)	$ (335)

INCOME TAXES - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Tax benefits from share-based compensation	$ 32	$ 34	$ 89
Tax credits included in provision for income taxes	4	4	4
Tax applicable to other comprehensive income	3	2	5
Cumulative unremitted earnings of subsidiaries	3,950
Change in unrecognized tax benefits	397	14	(24)
Unrecognized tax benefits that, if recognized, would impact the effective tax rate	288	15	7
Tax credits subject to expiration	65
Tax credits that do not expire	13
Net operating loss benefits	5	5
Net operating losses	2,152
Net operating losses subject to expiration	1,243
Cash paid for income taxes	293	218	172
Income Tax Contingency [Line Items]
Amount of unrecognized tax benefits that is reasonably possible will be reversed in next twelve months	73
Interest related to unrecognized tax benefits	8	$ 3	$ 2
U.S. Issues Currently in Appeals
Income Tax Contingency [Line Items]
Amount of unrecognized tax benefits that is reasonably possible will be reversed in next twelve months	59
State and Non-U.S. Audits Expected to be Resolved in 2017
Income Tax Contingency [Line Items]
Amount of unrecognized tax benefits that is reasonably possible will be reversed in next twelve months	11
Issues for Which Statues of Limitations Expired in 2017
Income Tax Contingency [Line Items]
Amount of unrecognized tax benefits that is reasonably possible will be reversed in next twelve months	$ 3

INCOME TAXES - Unrecognized Tax Benefit Reconciliation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized tax benefit at beginning of year	$ 24	$ 10	$ 34
Additions from Starwood Combination	387
Change attributable to tax positions taken in prior years	(3)
Change attributable to tax positions taken during the current period	16	15	3
Decrease attributable to settlements with taxing authorities	(2)	0	(27)
Decrease attributable to lapse of statute of limitations	(1)	(1)	0
Unrecognized tax benefit at end of year	$ 421	$ 24	$ 10

INCOME TAXES - Types of Temporary Differences and Carry-Forwards that Significantly Effect Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Employee benefits	$ 430	$ 348
Net operating loss carry-forwards	320	205
Accrued expenses and other reserves	204	63
Receivables, net	134	11
Tax credits	79	111
Frequent guest program	42	68
Deferred income	20	21
Self-insurance	15	21
Joint venture interests	(8)	(49)
Property and equipment	(199)	(3)
Intangibles	(1,724)	(11)
Other, net	32	34
Deferred taxes	(655)	819
Less: valuation allowance	(249)	(163)
Net deferred taxes	$ (904)
Net deferred taxes		$ 656

INCOME TAXES - Reconciliation of the U.S. Statutory Tax Rate to Effective Income Tax Rate (Details)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
U.S. statutory tax rate	35.00%	35.00%	35.00%
U.S. state income taxes, net of U.S. federal tax benefit	2.90%	2.90%	2.70%
Non-U.S. income	(6.80%)	(5.20%)	(4.80%)
Change in valuation allowance	0.30%	1.20%	(0.40%)
Tax credits	(0.40%)	(0.30%)	(0.30%)
Other, net	3.10%	(2.10%)	(1.40%)
Effective rate	34.10%	31.50%	30.80%

COMMITMENTS AND CONTINGENCIES - Guarantees (Details) $ in Millions	12 Months Ended
	Dec. 31, 2016 USD ($)
Commitments and Contingencies Disclosure [Line Items]
Maximum Potential Amount of Future Fundings	$ 282
Recorded Liability for Guarantees	66
New York City EDITION Hotel
Commitments and Contingencies Disclosure [Line Items]
Loan commitment, put option agreement, obligation to acquire property, amount	$ 315
Loan commitment, put option agreement, obligation to acquire property, term	2 years
Loan commitment, put option agreement, obligation to acquire property, extended term	3 years
Debt service
Commitments and Contingencies Disclosure [Line Items]
Maximum Potential Amount of Future Fundings	$ 155
Recorded Liability for Guarantees	24
Operating profit
Commitments and Contingencies Disclosure [Line Items]
Maximum Potential Amount of Future Fundings	119
Recorded Liability for Guarantees	40
Other
Commitments and Contingencies Disclosure [Line Items]
Maximum Potential Amount of Future Fundings	8
Recorded Liability for Guarantees	2
Not Yet In Effect Condition \| Debt service
Commitments and Contingencies Disclosure [Line Items]
Maximum Potential Amount of Future Fundings	14
Not Yet In Effect Condition \| Operating profit
Commitments and Contingencies Disclosure [Line Items]
Maximum Potential Amount of Future Fundings	51
Accrued Expenses and Other
Commitments and Contingencies Disclosure [Line Items]
Recorded Liability for Guarantees	12
Other Noncurrent Liabilities
Commitments and Contingencies Disclosure [Line Items]
Recorded Liability for Guarantees	$ 54
Minimum
Commitments and Contingencies Disclosure [Line Items]
Guarantee obligations, term	3 years
Maximum
Commitments and Contingencies Disclosure [Line Items]
Guarantee obligations, term	10 years

COMMITMENTS AND CONTINGENCIES - Commitments and Letters of Credit (Details) € in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2016 USD ($) entity	Dec. 31, 2016 EUR (€) entity
Commitments and Contingencies Disclosure [Line Items]
Loan commitment	$ 126
Loan commitment funded in 2017	86
Loan commitment expected to be funded in 2018	7
Loan commitment expected to be funded thereafter	9
Loan commitment, funding not expected	24
Letters of credit outstanding	157
Surety bonds issued	$ 149
Investment in Joint Venture Partner's Remaining Interests
Commitments and Contingencies Disclosure [Line Items]
Number of acquisition interests in joint ventures \| entity	2	2
Contingent acquisition period	5 years
Deposit for contingent joint venture	$ 20	€ 15
Remaining deposit for contingent joint venture	12	€ 11
Information Technology Hardware, Software, Accounting, Finance, and Maintenance Services
Commitments and Contingencies Disclosure [Line Items]
Purchase obligation	470
Purchase obligation, expected to fund commitments in 2017	186
Purchase obligation, expected to fund commitments in 2018	136
Purchase obligation, expected to fund commitments in 2019	106
Purchase obligation, thereafter	42
Information Technology Hardware, Software, Accounting, Finance, and Maintenance Services \| Starwood Hotels & Resorts
Commitments and Contingencies Disclosure [Line Items]
Purchase obligation	302
Commitments
Commitments and Contingencies Disclosure [Line Items]
Investment commitments, funding not expected	$ 46

LEASES - Future Minimum Lease Obligations (Details) - Leased Property $ in Millions	Dec. 31, 2016 USD ($)
Operating Leases
2017	$ 183
2018	173
2019	152
2020	130
2021	121
Thereafter	983
Total minimum lease payments where we are the primary obligor	1,742
Capital Leases
2017	13
2018	13
2019	13
2020	13
2021	13
Thereafter	191
Total minimum lease payments where we are the primary obligor	256
Less: amount representing interest	83
Present value of minimum lease payments	$ 173

LEASES - Additional Information (Details)	12 Months Ended
LEASES - Additional Information (Details)	Dec. 31, 2016 renewal_option
Operating Leased Assets [Line Items]
Initial lease terms	20 years
Minimum
Operating Leased Assets [Line Items]
Number of lease renewal terms	1
Lease renewal terms	5 years
Maximum
Operating Leased Assets [Line Items]
Lease renewal terms	10 years

LEASES Composition of Rent Expense Associated with Operating Leases (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Leases [Abstract]
Minimum rentals	$ 150	$ 138	$ 143
Additional rentals	67	65	64
Operating leases, rent expense, total	$ 217	$ 203	$ 207

The increases or decreases in lease payments that result from changes occurring after the inception of the lease in the factors (other than the passage of time) on which lease payments are based, except that any escalation of minimum lease payments relating to increases in construction or acquisition cost of the leased property or for increases in some measure of cost or value during the construction or preconstruction period, are excluded from contingent rentals. Contingent rentals also may include amounts for which the triggering events have not yet occurred or the specified targets for which have not yet been achieved (such as sales based percentage rent), but which events are considered probable of occurring or which specified targets are considered probable of being achieved.

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

SELF-INSURANCE RESERVE FOR LOSSES AND LOSS ADJUSTMENT EXPENSES - Activity in Self-Insurance Reserves for Losses and Loss Adjustment Expenses (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Self-Insurance Reserve for Losses and Loss Adjustment Expenses [Roll Forward]
Balance at beginning of year	$ 416	$ 384
Less: reinsurance recoverable	(3)	(3)	$ (4)
Net balance at beginning of year	413	380
Assumed in the Starwood Combination	91	0
Incurred related to:
Current year	140	141
Prior years	(20)	(11)
Total incurred	120	130
Paid related to:
Current year	(26)	(27)
Prior years	(79)	(70)
Total paid	(105)	(97)
Net balance at end of year	519	413
Add: reinsurance recoverable	3	3	$ 4
Balance at end of year	522	416
Current portion classified in “Accrued expenses and other”	142	115
Noncurrent portion classified in “Other noncurrent liabilities”	$ 380	$ 301

LONG-TERM DEBT - Detail on Long-term Debt Balances (Details) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Credit Facility	$ 0	$ 0
Capital lease obligations	173	5
Long-term debt	8,506	4,107
Less: Current portion of long-term debt	(309)	(300)
Long-term debt, noncurrent	8,197	3,807
Commercial paper
Debt Instrument [Line Items]
Commercial paper	2,311	938
Other
Debt Instrument [Line Items]
Other	291	108
Series H Notes, interest rate of 6.2%, face amount of $289, maturing June 15, 2016 (effective interest rate of 6.3%)
Debt Instrument [Line Items]
Senior Notes	$ 0	289
Series H Notes, interest rate of 6.2%, face amount of $289, maturing June 15, 2016 (effective interest rate of 6.3%) \| Senior Notes
Debt Instrument [Line Items]
Senior notes, interest rate	6.20%
Senior notes, face amount	$ 289
Senior notes, effective interest rate	6.30%
Series I Notes, interest rate of 6.4%, face amount of $293, maturing June 15, 2017 (effective interest rate of 6.5%)
Debt Instrument [Line Items]
Senior Notes	$ 293	293
Series I Notes, interest rate of 6.4%, face amount of $293, maturing June 15, 2017 (effective interest rate of 6.5%) \| Senior Notes
Debt Instrument [Line Items]
Senior notes, interest rate	6.40%
Senior notes, face amount	$ 293
Senior notes, effective interest rate	6.50%
Series K Notes, interest rate of 3.0%, face amount of $600, maturing March 1, 2019 (effective interest rate of 4.4%)
Debt Instrument [Line Items]
Senior Notes	$ 597	595
Series K Notes, interest rate of 3.0%, face amount of $600, maturing March 1, 2019 (effective interest rate of 4.4%) \| Senior Notes
Debt Instrument [Line Items]
Senior notes, interest rate	3.00%
Senior notes, face amount	$ 600
Senior notes, effective interest rate	4.40%
Series L Notes, interest rate of 3.3%, face amount of $350, maturing September 15, 2022 (effective interest rate of 3.4%)
Debt Instrument [Line Items]
Senior Notes	$ 348	348
Series L Notes, interest rate of 3.3%, face amount of $350, maturing September 15, 2022 (effective interest rate of 3.4%) \| Senior Notes
Debt Instrument [Line Items]
Senior notes, interest rate	3.30%
Senior notes, face amount	$ 350
Senior notes, effective interest rate	3.40%
Series M Notes, interest rate of 3.4%, face amount of $350, maturing October 15, 2020 (effective interest rate of 3.6%)
Debt Instrument [Line Items]
Senior Notes	$ 347	347
Series M Notes, interest rate of 3.4%, face amount of $350, maturing October 15, 2020 (effective interest rate of 3.6%) \| Senior Notes
Debt Instrument [Line Items]
Senior notes, interest rate	3.40%
Senior notes, face amount	$ 350
Senior notes, effective interest rate	3.60%
Series N Notes, interest rate of 3.1%, face amount of $400, maturing October 15, 2021 (effective interest rate of 3.4%)
Debt Instrument [Line Items]
Senior Notes	$ 396	395
Series N Notes, interest rate of 3.1%, face amount of $400, maturing October 15, 2021 (effective interest rate of 3.4%) \| Senior Notes
Debt Instrument [Line Items]
Senior notes, interest rate	3.10%
Senior notes, face amount	$ 400
Senior notes, effective interest rate	3.40%
Series O Notes, interest rate of 2.9%, face amount of $450, maturing March 1, 2021 (effective interest rate of 3.1%)
Debt Instrument [Line Items]
Senior Notes	$ 446	446
Series O Notes, interest rate of 2.9%, face amount of $450, maturing March 1, 2021 (effective interest rate of 3.1%) \| Senior Notes
Debt Instrument [Line Items]
Senior notes, interest rate	2.90%
Senior notes, face amount	$ 450
Senior notes, effective interest rate	3.10%
Series P Notes, interest rate of 3.8%, face amount of $350, maturing October 1, 2025 (effective interest rate of 4.0%)
Debt Instrument [Line Items]
Senior Notes	$ 344	343
Series P Notes, interest rate of 3.8%, face amount of $350, maturing October 1, 2025 (effective interest rate of 4.0%) \| Senior Notes
Debt Instrument [Line Items]
Senior notes, interest rate	3.80%
Senior notes, face amount	$ 350
Senior notes, effective interest rate	4.00%
Series Q Notes, interest rate of 2.3%, face amount of $750, maturing January 15, 2022 (effective interest rate of 2.5%)
Debt Instrument [Line Items]
Senior Notes	$ 742	0
Series Q Notes, interest rate of 2.3%, face amount of $750, maturing January 15, 2022 (effective interest rate of 2.5%) \| Senior Notes
Debt Instrument [Line Items]
Senior notes, interest rate	2.30%
Senior notes, face amount	$ 750
Senior notes, effective interest rate	2.50%
Series R Notes, interest rate of 3.1%, face amount of $750, maturing June 15, 2026 (effective interest rate of 3.3%)
Debt Instrument [Line Items]
Senior Notes	$ 742	0
Series R Notes, interest rate of 3.1%, face amount of $750, maturing June 15, 2026 (effective interest rate of 3.3%) \| Senior Notes
Debt Instrument [Line Items]
Senior notes, interest rate	3.10%
Senior notes, face amount	$ 750
Senior notes, effective interest rate	3.30%
Series S Notes, interest rate of 6.8%, face amount of $324, maturing May 15, 2018 (effective interest rate of 1.7%)
Debt Instrument [Line Items]
Senior Notes	$ 346	0
Series S Notes, interest rate of 6.8%, face amount of $324, maturing May 15, 2018 (effective interest rate of 1.7%) \| Senior Notes
Debt Instrument [Line Items]
Senior notes, interest rate	6.80%
Senior notes, face amount	$ 324
Senior notes, effective interest rate	1.70%
Series T Notes, interest rate of 7.2%, face amount of $181, maturing December 1, 2019 (effective interest rate of 2.3%)
Debt Instrument [Line Items]
Senior Notes	$ 206	0
Series T Notes, interest rate of 7.2%, face amount of $181, maturing December 1, 2019 (effective interest rate of 2.3%) \| Senior Notes
Debt Instrument [Line Items]
Senior notes, interest rate	7.20%
Senior notes, face amount	$ 181
Senior notes, effective interest rate	2.30%
Series U Notes, interest rate of 3.1%, face amount of $291, maturing February 15, 2023 (effective interest rate of 3.1%)
Debt Instrument [Line Items]
Senior Notes	$ 291	0
Series U Notes, interest rate of 3.1%, face amount of $291, maturing February 15, 2023 (effective interest rate of 3.1%) \| Senior Notes
Debt Instrument [Line Items]
Senior notes, interest rate	3.10%
Senior notes, face amount	$ 291
Senior notes, effective interest rate	3.10%
Series V Notes, interest rate of 3.8%, face amount of $318, maturing March 15, 2025 (effective interest rate of 2.8%)
Debt Instrument [Line Items]
Senior Notes	$ 340	0
Series V Notes, interest rate of 3.8%, face amount of $318, maturing March 15, 2025 (effective interest rate of 2.8%) \| Senior Notes
Debt Instrument [Line Items]
Senior notes, interest rate	3.80%
Senior notes, face amount	$ 318
Senior notes, effective interest rate	2.80%
Series W Notes, interest rate of 4.5%, face amount of $278, maturing October 1, 2034 (effective interest rate of 4.1%)
Debt Instrument [Line Items]
Senior Notes	$ 293	$ 0
Series W Notes, interest rate of 4.5%, face amount of $278, maturing October 1, 2034 (effective interest rate of 4.1%) \| Senior Notes
Debt Instrument [Line Items]
Senior notes, interest rate	4.50%
Senior notes, face amount	$ 278
Senior notes, effective interest rate	4.10%

PENSION AND OTHER POSTRETIREMENT BENEFITS - Additional Information (Details) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2016 USD ($)	Dec. 31, 2016 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Net actuarial gains		$ 5
Assumed annual rate of increase in the per capita cost of covered health care benefits for 2017	7.00%
Annual rate of increase in the per capital cost of covered health care benefit gradually decreasing to in 2020	5.00%
A one-percentage point change in assumed health care cost trend rates effect on postretirement benefit obligation	$ 1
Expected return on plan assets, measurement period	10 years
Expected contributions to plans during 2017	$ 9
Debt Securities
Defined Benefit Plan Disclosure [Line Items]
Target asset allocation	31.00%
Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Target asset allocation	30.00%
Other
Defined Benefit Plan Disclosure [Line Items]
Target asset allocation	39.00%
Other Noncurrent Liabilities
Defined Benefit Plan Disclosure [Line Items]
Overfunded (underfunded) status	$ 40	40
Accrued Expenses and Other
Defined Benefit Plan Disclosure [Line Items]
Overfunded (underfunded) status	(3)	(3)
Other Noncurrent Assets
Defined Benefit Plan Disclosure [Line Items]
Overfunded (underfunded) status	$ 40	$ 40

LONG-TERM DEBT - Additional Information (Details)	3 Months Ended		12 Months Ended
LONG-TERM DEBT - Additional Information (Details)	Jun. 30, 2016 USD ($)	Sep. 30, 2015 USD ($)	Dec. 31, 2016 USD ($) series	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)
Debt Instrument [Line Items]
Cash paid for interest, net of amounts capitalized			$ 165,000,000	$ 114,000,000	$ 79,000,000
Issuance of long-term debt			1,482,000,000	$ 790,000,000	$ 394,000,000
Maximum aggregate borrowings under credit facility (up to)			4,000,000,000
Senior Notes \| Series Q and R Senior Notes
Debt Instrument [Line Items]
Senior notes, face amount	$ 1,500,000,000
Issuance of long-term debt	$ 1,485,000,000
Senior Notes \| Series O and P Senior Notes
Debt Instrument [Line Items]
Senior notes, face amount		$ 800,000,000
Issuance of long-term debt		$ 790,000,000
Starwood Hotels & Resorts
Debt Instrument [Line Items]
Aggregate principal amount outstanding			$ 165,000,000
Number of series outstanding \| series			5

PENSION AND OTHER POSTRETIREMENT BENEFITS - Benefit Obligation, Fair Value of Plan Assets, Funded Status of Plan Assets, Projected Benefit Obligations and Accumulated Benefit Obligation (Details) $ in Millions	3 Months Ended
	Dec. 31, 2016 USD ($)
Domestic Pension Benefits
Change in Plan Assets
Fair value of plan assets at Merger Date	$ 0
Actual return on plan assets, net of expenses	0
Employer contribution	1
Effect of foreign exchange rates	0
Benefits paid	(1)
Fair value of plan assets at year-end	0
Change in Benefit Obligation
Benefit obligations at Merger Date	23
Interest cost	0
Actuarial gain	(1)
Effect of foreign exchange rates	0
Benefits paid	(1)
Accumulated benefit obligation balance	21
Overfunded (underfunded) status	(21)
Projected benefit obligation	21
Accumulated benefit obligation	21
Foreign Pension Benefits
Change in Plan Assets
Fair value of plan assets at Merger Date	278
Actual return on plan assets, net of expenses	(10)
Employer contribution	2
Effect of foreign exchange rates	(6)
Benefits paid	(2)
Fair value of plan assets at year-end	262
Change in Benefit Obligation
Benefit obligations at Merger Date	251
Interest cost	2
Actuarial gain	(17)
Effect of foreign exchange rates	(5)
Benefits paid	(2)
Accumulated benefit obligation balance	229
Overfunded (underfunded) status	33
Projected benefit obligation	7
Accumulated benefit obligation	7
Postretirement Benefits
Change in Plan Assets
Fair value of plan assets at Merger Date	0
Actual return on plan assets, net of expenses	0
Employer contribution	0
Effect of foreign exchange rates	0
Benefits paid	0
Fair value of plan assets at year-end	0
Change in Benefit Obligation
Benefit obligations at Merger Date	16
Interest cost	0
Actuarial gain	(1)
Effect of foreign exchange rates	0
Benefits paid	0
Accumulated benefit obligation balance	15
Overfunded (underfunded) status	$ (15)

LONG-TERM DEBT - Future Principal Payments for Debt (Details) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Debt Disclosure [Abstract]
2017	$ 309
2018	410
2019	857
2020	364
2021	3,171
Thereafter	3,395
Long-term debt	$ 8,506	$ 4,107

PENSION AND OTHER POSTRETIREMENT BENEFITS - Assumptions Used (Details)	Dec. 31, 2016
Domestic Pension Benefits
Benefit Obligation
Discount rate	3.75%
Foreign Pension Benefits
Benefit Obligation
Discount rate	3.54%
Rate of compensation increase	3.02%
Postretirement Benefits
Benefit Obligation
Discount rate	3.74%

PENSION AND OTHER POSTRETIREMENT BENEFITS - Fair Value Hierarchy of the Plan Assets Measured at Fair Value Value on a Recurring Basis (Details) - Fair Value, Measurements, Recurring $ in Millions	Dec. 31, 2016 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Plan assets	$ 262
Mutual funds
Defined Benefit Plan Disclosure [Line Items]
Plan assets	79
Collective trusts
Defined Benefit Plan Disclosure [Line Items]
Plan assets	94
Equity index trusts
Defined Benefit Plan Disclosure [Line Items]
Plan assets	77
Money markets
Defined Benefit Plan Disclosure [Line Items]
Plan assets	10
Bond index funds
Defined Benefit Plan Disclosure [Line Items]
Plan assets	2
Level 1
Defined Benefit Plan Disclosure [Line Items]
Plan assets	157
Level 1 \| Mutual funds
Defined Benefit Plan Disclosure [Line Items]
Plan assets	79
Level 1 \| Collective trusts
Defined Benefit Plan Disclosure [Line Items]
Plan assets	0
Level 1 \| Equity index trusts
Defined Benefit Plan Disclosure [Line Items]
Plan assets	77
Level 1 \| Money markets
Defined Benefit Plan Disclosure [Line Items]
Plan assets	1
Level 1 \| Bond index funds
Defined Benefit Plan Disclosure [Line Items]
Plan assets	0
Level 2
Defined Benefit Plan Disclosure [Line Items]
Plan assets	12
Level 2 \| Mutual funds
Defined Benefit Plan Disclosure [Line Items]
Plan assets	0
Level 2 \| Collective trusts
Defined Benefit Plan Disclosure [Line Items]
Plan assets	1
Level 2 \| Equity index trusts
Defined Benefit Plan Disclosure [Line Items]
Plan assets	0
Level 2 \| Money markets
Defined Benefit Plan Disclosure [Line Items]
Plan assets	9
Level 2 \| Bond index funds
Defined Benefit Plan Disclosure [Line Items]
Plan assets	2
Level 3
Defined Benefit Plan Disclosure [Line Items]
Plan assets	93
Level 3 \| Mutual funds
Defined Benefit Plan Disclosure [Line Items]
Plan assets	0
Level 3 \| Collective trusts
Defined Benefit Plan Disclosure [Line Items]
Plan assets	93
Level 3 \| Equity index trusts
Defined Benefit Plan Disclosure [Line Items]
Plan assets	0
Level 3 \| Money markets
Defined Benefit Plan Disclosure [Line Items]
Plan assets	0
Level 3 \| Bond index funds
Defined Benefit Plan Disclosure [Line Items]
Plan assets	$ 0

PENSION AND OTHER POSTRETIREMENT BENEFITS - Anticipated Pension and Postretirement Benefit Plan Payments (Details) $ in Millions	Dec. 31, 2016 USD ($)
Defined Benefit Plan Disclosure [Line Items]
2017	$ 18
2018	12
2019	13
2020	13
2021	13
2022-2026	66
Domestic Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
2017	2
2018	2
2019	2
2020	2
2021	2
2022-2026	7
Foreign Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
2017	15
2018	9
2019	10
2020	10
2021	10
2022-2026	54
Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
2017	1
2018	1
2019	1
2020	1
2021	1
2022-2026	$ 5

INTANGIBLE ASSETS AND GOODWILL - Composition of Acquired Intangible Assets (Details) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Acquired Finite-Lived Intangible Assets [Line Items]
Accumulated amortization	$ (447)	$ (380)
Contract acquisition costs and other, net	2,829	1,322
Acquired Indefinite-lived Intangible Assets [Line Items]
Total Intangible Assets	9,270	1,451
Indefinite-lived Intangible Brand Assets
Acquired Indefinite-lived Intangible Assets [Line Items]
Brands	6,441	129
Contract acquisition costs and other
Acquired Finite-Lived Intangible Assets [Line Items]
Contract acquisition costs and other	$ 3,276	$ 1,702

INTANGIBLE ASSETS AND GOODWILL - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Finite-Lived Intangible Assets [Line Items]
Amortization expense of intangible assets	$ 87	$ 65	$ 64
Estimated aggregate future amortization expense of intangible assets for 2017	152
Estimated aggregate future amortization expense of intangible assets for 2018	152
Estimated aggregate future amortization expense of intangible assets for 2019	152
Estimated aggregate future amortization expense of intangible assets for 2020	152
Estimated aggregate future amortization expense of intangible assets for 2021	$ 152
Minimum
Finite-Lived Intangible Assets [Line Items]
Range of amortization life of intangible assets	15 years
Maximum
Finite-Lived Intangible Assets [Line Items]
Range of amortization life of intangible assets	30 years

INTANGIBLE ASSETS AND GOODWILL - Carrying Amount of Goodwill (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 997
Additions	6,774
Foreign currency translation	(119)
Goodwill, ending balance	7,652
Accumulated impairment losses	(54)	$ (54)
Goodwill, Net	7,598	943
North American Full-Service Segment
Goodwill [Roll Forward]
Goodwill, beginning balance	409
Additions	2,500
Foreign currency translation	(4)
Goodwill, ending balance	2,905
Accumulated impairment losses	0	0
Goodwill, Net	2,905	409
North American Limited-Service Segment
Goodwill [Roll Forward]
Goodwill, beginning balance	125
Additions	1,434
Foreign currency translation	(1)
Goodwill, ending balance	1,558
Accumulated impairment losses	(54)	(54)
Goodwill, Net	1,504	71
International
Goodwill [Roll Forward]
Goodwill, beginning balance	463
Additions	2,840
Foreign currency translation	(114)
Goodwill, ending balance	3,189
Accumulated impairment losses	0	0
Goodwill, Net	$ 3,189	$ 463

PROPERTY AND EQUIPMENT - Composition of our Property and Equipment Balances (Details) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 3,320	$ 1,926
Accumulated depreciation	(985)	(897)
Property and equipment, net	2,335	1,029
Land
Property, Plant and Equipment [Line Items]
Property and equipment, gross	654	299
Buildings and leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	1,352	729
Furniture and equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	1,159	768
Construction in progress
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 155	$ 130

PROPERTY AND EQUIPMENT - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Property, Plant and Equipment [Line Items]
Depreciation expense	$ 157	$ 132	$ 135
Property and equipment, net	2,335	1,029
International Operations
Property, Plant and Equipment [Line Items]
Property and equipment, net	1,000	229
Reimbursed Costs
Property, Plant and Equipment [Line Items]
Depreciation expense	$ 76	58	51
Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives	3 years
Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives	40 years
Property and Equipment
Property, Plant and Equipment [Line Items]
Interest capitalized	$ 1	$ 9	$ 33

NOTES RECEIVABLE - Composition of our Notes Receivable Balances (Net of Reserves and Unamortized Discounts) (Details) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Receivables [Abstract]
Senior, mezzanine, and other loans	$ 248	$ 221
Less current portion	(3)	(6)
Notes receivable, noncurrent	$ 245	$ 215

NOTES RECEIVABLE - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Receivables [Abstract]
Notes receivable, unamortized discounts	$ 22	$ 31
Investment in impaired loans	74	72
Notes receivable reserve representing an allowance for credit losses	57	55
Investment in impaired loans with no related allowance for credit losses	17	17
Average investment in impaired loans	$ 73	$ 67	$ 81

NOTES RECEIVABLE - Notes Receivable Expected Future Principal Payments (Net of Reserves and Unamortized Discounts and Interest Rates) (Details) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Receivables [Abstract]
2017	$ 3
2018	77
2019	21
2020	17
2021	48
Thereafter	82
Senior, mezzanine, and other loans	$ 248	$ 221
Weighted average interest rate at year-end 2016	6.90%
Range of stated interest rates at year-end 2016, minimum	0.00%
Range of stated interest rates at year-end 2016, maximum	18.00%

FAIR VALUE OF FINANCIAL INSTRUMENTS - Carrying Values and Fair Values of Non-Current Financial Assets and Liabilities (Details) - USD ($)
$ in Millions

Dec. 31, 2016

Dec. 31, 2015

Senior, mezzanine, and other loans

$ 245

$ 215

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

^[1]

(1,744)

(994)

Carrying Amount

Senior, mezzanine, and other loans

245

215

Total noncurrent financial assets

245

215

Senior Notes

(5,438)

(2,766)

Commercial paper

(2,311)

(938)

Other long-term debt

(280)

(99)

Total noncurrent financial liabilities

(59)

(63)

(8,088)

(3,866)

Fair Value

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Senior, mezzanine, and other loans

231

209

Total noncurrent financial assets

231

209

Senior Notes

(5,394)

(2,826)

Commercial paper

(2,311)

(938)

Other long-term debt

(284)

(108)

Total noncurrent financial liabilities

(59)

(63)

$ (8,048)

$ (3,935)

[1]	See Footnote 19 “Related Party Transactions” for disclosure of related party amounts.

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - Accumulated Other Comprehensive Income Activity (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
AOCI Attributable to Parent [Roll forward] [Abstract]
Beginning balance	$ (3,590)	$ (2,200)	$ (1,415)
Other comprehensive (loss) income before reclassifications	(303)	(120)	(28)
Amounts reclassified from accumulated other comprehensive loss	2	(6)	2
Total other comprehensive loss, net of tax	(301)	(126)	(26)
Ending balance	5,357	(3,590)	(2,200)
Intra-entity foreign currency long-term-investment gains	69	48	28
Foreign Currency Translation Adjustments
AOCI Attributable to Parent [Roll forward] [Abstract]
Beginning balance	(192)	(72)	(31)
Other comprehensive (loss) income before reclassifications	(311)	(123)	(41)
Amounts reclassified from accumulated other comprehensive loss	0	3	0
Total other comprehensive loss, net of tax	(311)	(120)	(41)
Ending balance	(503)	(192)	(72)
Derivative Instrument Adjustments
AOCI Attributable to Parent [Roll forward] [Abstract]
Beginning balance	(8)	(9)	(19)
Other comprehensive (loss) income before reclassifications	1	10	8
Amounts reclassified from accumulated other comprehensive loss	2	(9)	2
Total other comprehensive loss, net of tax	3	1	10
Ending balance	(5)	(8)	(9)
Available-For-Sale Securities Unrealized Adjustments
AOCI Attributable to Parent [Roll forward] [Abstract]
Beginning balance	4	11	6
Other comprehensive (loss) income before reclassifications	2	(7)	5
Amounts reclassified from accumulated other comprehensive loss	0	0	0
Total other comprehensive loss, net of tax	2	(7)	5
Ending balance	6	4	11
Pension and Postretirement Adjustments
AOCI Attributable to Parent [Roll forward] [Abstract]
Beginning balance	0	0	0
Other comprehensive (loss) income before reclassifications	5	0	0
Amounts reclassified from accumulated other comprehensive loss	0	0	0
Total other comprehensive loss, net of tax	5	0	0
Ending balance	5	0	0
Accumulated Other Comprehensive Loss
AOCI Attributable to Parent [Roll forward] [Abstract]
Beginning balance	(196)	(70)	(44)
Total other comprehensive loss, net of tax	(301)	(126)	(26)
Ending balance	$ (497)	$ (196)	$ (70)

BUSINESS SEGMENTS - Additional Information (Details)	12 Months Ended
BUSINESS SEGMENTS - Additional Information (Details)	Dec. 31, 2016 segment
Segment Reporting [Abstract]
Number of reportable business segments	3
Number of operating segments	4

BUSINESS SEGMENTS - Segment Revenues (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	$ 5,456	$ 3,942	$ 3,902	$ 3,772	$ 3,706	$ 3,578	$ 3,689	$ 3,513	$ 17,072	$ 14,486	$ 13,796
Total segment
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues									16,573	14,218	13,540
Total segment \| International Operations
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues									3,181	2,761	2,518
Total segment \| North American Full-Service segment
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues									10,376	8,825	8,323
Total segment \| North American Limited-Service segment
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues									3,561	3,193	2,962
Total segment \| International
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues									2,636	2,200	2,255
Other unallocated corporate
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues									$ 499	$ 268	$ 256

BUSINESS SEGMENTS - Segment Profits (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total segments profits	$ 441	$ 171	$ 389	$ 367	$ 310	$ 339	$ 369	$ 332	$ 1,368	$ 1,350	$ 1,159
Interest expense and interest income									(199)	(138)	(85)
Income taxes									(404)	(396)	(335)
Net income	$ 244	$ 70	$ 247	$ 219	$ 202	$ 210	$ 240	$ 207	780	859	753
Total segment
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total segments profits									1,882	1,504	1,393
Total segment \| International Operations
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total segments profits									462	329	327
Total segment \| Asia Pacific
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total segments profits									176
Total segment \| Europe
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total segments profits									105
Total segment \| Caribbean and Latin America
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total segments profits									87
Total segment \| Canada
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total segments profits									55
Total segment \| Middle East And Africa
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total segments profits									39
Total segment \| North American Full-Service segment
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total segments profits									777	561	524
Total segment \| North American Limited-Service segment
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total segments profits									698	651	574
Total segment \| International
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total segments profits									407	292	295
Other unallocated corporate
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total segments profits									$ (499)	$ (111)	$ (220)

BUSINESS SEGMENTS - Depreciation and Amortization (Details) - USD ($)

12 Months Ended

Dec. 31, 2016

Dec. 31, 2015

Dec. 31, 2014

^[1]

$ 168,000,000

$ 139,000,000

$ 148,000,000

Property and Equipment

Impairment charge

12,000,000

25,000,000

Total segment

Total segment | North American Full-Service segment

147,000,000

116,000,000

Total segment | North American Limited-Service segment

67,000,000

55,000,000

52,000,000

Total segment | International

23,000,000

21,000,000

22,000,000

Other unallocated corporate

57,000,000

40,000,000

42,000,000

Incentive management fees

$ 21,000,000

$ 23,000,000

$ 32,000,000

[1]	See Footnote 19 “Related Party Transactions” for disclosure of related party amounts.

BUSINESS SEGMENTS - Capital Expenditures (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Segment Reporting Information [Line Items]
Capital expenditures	$ 199	$ 305	$ 411
Total segment
Segment Reporting Information [Line Items]
Capital expenditures	81	213	343
Total segment \| North American Full-Service segment
Segment Reporting Information [Line Items]
Capital expenditures	35	120	251
Total segment \| North American Limited-Service segment
Segment Reporting Information [Line Items]
Capital expenditures	7	7	5
Total segment \| International
Segment Reporting Information [Line Items]
Capital expenditures	39	86	87
Other unallocated corporate
Segment Reporting Information [Line Items]
Capital expenditures	$ 118	$ 92	$ 68

RELATED PARTY TRANSACTIONS - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Related Party Transactions [Abstract]
Undistributed earnings	$ 5
JWM Family Enterprise, L.P.
Related Party Transaction [Line Items]
Management fees	13	$ 13	$ 12
Starwood Hotels & Resorts
Related Party Transaction [Line Items]
Fair value of equity method investments acquired	723
Amount by which the fair value of equity method investments acquired exceeded company's share of the book value of the investee's net assets	$ 491

RELATED PARTY TRANSACTIONS - Financial Data Resulting from Transactions with Related Parties, Income Statement Data (Detail) - USD ($)
$ in Millions

3 Months Ended

12 Months Ended

Dec. 31, 2016

Sep. 30, 2016

Jun. 30, 2016

Mar. 31, 2016

Dec. 31, 2015

Sep. 30, 2015

Jun. 30, 2015

Mar. 31, 2015

Dec. 31, 2016

Dec. 31, 2015

Dec. 31, 2014

Base management fees

^[1]

$ 806

$ 698

$ 672

^[1]

425

319

302

Cost reimbursements

^[1]

13,546

11,630

11,055

Total revenue

$ 5,456

$ 3,942

$ 3,902

$ 3,772

$ 3,706

$ 3,578

$ 3,689

$ 3,513

17,072

14,486

13,796

Reimbursed costs

^[1]

(13,546)

(11,630)

(11,055)

General, administrative, and other

^[1]

(168)

(139)

(148)

^[1]

(704)

(634)

(659)

Gains and other income

^[1]

Interest income

^[1]

Related Party Transactions

Base management fees

Incentive management fees

Owned, leased, and other revenue

Cost reimbursements

193

197

226

Total revenue

221

216

250

Reimbursed costs

(193)

(197)

(226)

General, administrative, and other

(2)

(1)

(2)

Gains and other income

Interest income

Equity in earnings

$ 10

$ 16

$ 6

[1]	See Footnote 19 “Related Party Transactions” for disclosure of related party amounts.

RELATED PARTY TRANSACTIONS - Financial Data Resulting from Transactions with Related Parties, Balance Sheet Data (Detail) - USD ($)
$ in Millions

Dec. 31, 2016

Dec. 31, 2015

Current assets

Accounts and notes receivable, net

^[1]

$ 1,695

$ 1,103

^[1]

Equity method investments

2,829

1,322

^[1]

728

165

Other noncurrent assets

^[1]

477

223

Deferred tax assets

116

672

Current liabilities

Accrued expenses and other

^[1]

(1,111)

(527)

Deferred tax liabilities

^[1]

(1,020)

(16)

Related Party Transactions

^[1]

(1,744)

(994)

Current assets

Accounts and notes receivable, net

Equity method investments

723

159

Other noncurrent assets

Deferred tax assets

Current liabilities

Accounts payable

(4)

(10)

Accrued expenses and other

(22)

(12)

Deferred tax liabilities

(56)

(4)