Item 2. Properties

Hotel Properties

Owned or Controlled Hotels

As of December 31, 2021, we owned a controlling financial interest, but less than a 100 percent interest, in the entity that owns the following property.

Joint Venture Hotels

As of December 31, 2021, we had a minority or noncontrolling financial interest in the entities that own or lease the following five properties, representing 2,244 rooms, and we manage each of the hotels for these entities. We have a right of first refusal to purchase additional equity interests in certain of these joint ventures.

Leased Hotels

As of December 31, 2021, we leased the following 48 hotels, representing 15,620 rooms.

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(1)We own a controlling financial interest, but less than a 100 percent interest, in the entity that leases the property.

Corporate Headquarters and Regional Offices

Our corporate headquarters is located at 7930 Jones Branch Drive, McLean, Virginia 22102, which is under a lease agreement expiring in December 2023. We also own or lease corporate offices or centralized operations centers in Memphis, Tennessee; Carrollton, Texas; Glasgow, Scotland (Europe); Watford, England (Europe); Dubai, United Arab Emirates (Middle East and Africa); Singapore (Asia Pacific); Tokyo, Japan; Shanghai, China; and Mexico City, Mexico. Additionally, to support our operations, we have our Hilton Reservations and Customer Care, Hilton Honors and other commercial services at a leased office in Addison, Texas. We believe that our existing office properties are in good condition and are sufficient and suitable for the conduct of our business. In the event we need to expand our operations, or upon expiration of our current leases, we believe that suitable space will be available on commercially reasonable terms.