Quarterly report pursuant to Section 13 or 15(d)

Hotel Brand Acquisition

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Hotel Brand Acquisition
 9 Months Ended
Sep. 30, 2022
Business Combination and Asset Acquisition [Abstract]  
Hotel Brand Acquisition
6. HOTEL BRAND ACQUISITION
During September 2022, the Company completed the acquisition of the Vienna House hotel brand for a total purchase price of $44 million. Vienna House’s portfolio consisted of 41 franchised hotels across Europe, predominantly in Germany. This acquisition enables the Company to grow the Vienna House brand by leveraging its vast global scale and franchise expertise and is consistent with the Company’s strategy to expand its brand portfolio and total system size.
The purchase price was allocated based on the relative fair value, on a pro rata basis, of the indefinite lived trademark and the franchise agreements acquired, which were assigned a 20 year life. The following table summarizes the fair value of the assets acquired in connection with Wyndham's acquisition of Vienna House:
Amount
Franchise agreements $ 17 
Trademark 27
Total assets acquired $ 44 

This acquisition was assigned to the Company’s Hotel Franchising segment. The results of operations of Vienna House have been included in the Consolidated Statements of Income since its date of acquisition. Such results were not material to the Company's results of operations for the three and nine months ended September 30, 2022.