v3.22.4
Share-Based Compensation - Schedule of Stock Options Valuation Assumptions (Details) - USD ($)
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Weighted Average Expected Dividend $ 0.15    
Stock options [member]      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Expected volatility [1] 33.28% 33.13% 23.69%
Dividend yield [2] 0.41% 0.00% 0.55%
Risk-free interest rate [3] 1.93% 0.92% 0.96%
Expected term (in years) [4] 6 years 6 years 6 years
[1] Estimated using a blended approach of historical and implied volatility. Historical volatility is based on the historical movement of Hilton's stock price for a look back period that corresponds to the expected term of the option.
[2] For options granted during the year ended December 31, 2020, dividend yield was estimated based on our historical quarterly dividends. However, after the 2020 options were granted, we suspended the declaration and payment of dividends, and, at the time of grant for the 2021 options, we could not estimate when the payment of dividends would resume. For the options granted during the year ended December 31, 2022, dividend yield was estimated based on the expectation, at the date of grant, of the resumption of a quarterly $0.15 per share dividend, which occurred in the second quarter of 2022. For option grants made during the years ended December 31, 2022 and 2020, the three month average stock price at the date of grant was also utilized in the dividend yield calculation.
[3] Based on the yields of U.S. Department of Treasury instruments with similar expected terms at the date of grant.
[4] Estimated using the midpoint of the vesting period and the contractual term of the options.