Quarterly report pursuant to Section 13 or 15(d)

Segment Information (Tables)

v3.22.2
Segment Information (Tables)
6 Months Ended
Jun. 30, 2022
Segment Reporting [Abstract]  
Summary of Net Revenues and Adjusted EBITDA by Segment
Three Months Ended June 30,
2022 2021
Net Revenues
Adjusted EBITDA
Net Revenues
Adjusted EBITDA
Hotel Franchising
$ 335  $ 185  $ 283  $ 166 
Hotel Management
51  123  16 
Total Reportable Segments
386  191  406  182 
Corporate and Other
—  (16) —  (14)
Total Company
$ 386  $ 175  $ 406  $ 168 
Reconciliation of Net Income to Adjusted EBITDA
The table below is a reconciliation of net income to adjusted EBITDA.
Three Months Ended June 30,
2022 2021
Net income $ 92  $ 68 
Provision for income taxes 31  25 
Depreciation and amortization 17  24 
Interest expense, net 20  22 
Early extinguishment of debt 18 
Stock-based compensation expense
Development advance notes amortization
Loss/(gain) on asset sales — 
Separation-related (income)/expenses (1)
Foreign currency impact of highly inflationary countries
— 
Adjusted EBITDA
$ 175  $ 168 
Six Months Ended June 30,
2022 2021
Net Revenues
Adjusted EBITDA
Net Revenues
Adjusted EBITDA
Hotel Franchising
$ 606  340  $ 492  $ 271 
Hotel Management
151  26  217  22 
Total Reportable Segments
757  366  709  293 
Corporate and Other
—  (32) —  (28)
Total Company
$ 757  334  $ 709  $ 265 
The table below is a reconciliation of net income to adjusted EBITDA.
Six Months Ended June 30,
2022 2021
Net income $ 198  $ 93 
Provision for income taxes 66  35 
Depreciation and amortization 40  47 
Interest expense, net 39  51 
Early extinguishment of debt 18 
Stock-based compensation expense 17  13 
Development advance notes amortization
Loss/(gain) on asset sales (35) — 
Separation-related (income)/expenses (1)
Foreign currency impact of highly inflationary countries
Adjusted EBITDA
$ 334  $ 265