Quarterly report pursuant to Section 13 or 15(d)

Segment Information (Tables)

v3.22.2.2
Segment Information (Tables)
 9 Months Ended
Sep. 30, 2022
Segment Reporting [Abstract]  
Summary of Net Revenues and Adjusted EBITDA by Segment
Three Months Ended September 30,
2022 2021
Net Revenues
Adjusted EBITDA
Net Revenues
Adjusted EBITDA
Hotel Franchising
 $ 367  $ 201  $ 337  $ 193 
Hotel Management
 40  7  126  16 
Total Reportable Segments
 407  208  463  209 
Corporate and Other
 —  (17) —  (15)
Total Company
 $ 407  $ 191  $ 463  $ 194 
Reconciliation of Net Income to Adjusted EBITDA
The table below is a reconciliation of net income to adjusted EBITDA.
Three Months Ended September 30,
2022 2021
Net income $ 101  $ 103 
Provision for income taxes 38  36 
Depreciation and amortization 18  23 
Interest expense, net 21  22 
Stock-based compensation expense 8  7 
Development advance notes amortization 3  3 
Separation-related expenses 1  — 
Foreign currency impact of highly inflationary countries
 1  — 
Adjusted EBITDA
 $ 191  $ 194 
Nine Months Ended September 30,
2022 2021
Net Revenues
Adjusted EBITDA
Net Revenues
Adjusted EBITDA
Hotel Franchising
 $ 974  541  $ 829  $ 464 
Hotel Management
 190  33  344  38 
Total Reportable Segments
 1,164  574  1,173  502 
Corporate and Other
 —  (50) —  (43)
Total Company
 $ 1,164  524  $ 1,173  $ 459 
The table below is a reconciliation of net income to adjusted EBITDA.
Nine Months Ended September 30,
2022 2021
Net income $ 299  $ 195 
Provision for income taxes 104  72 
Depreciation and amortization 58  70 
Interest expense, net 60  73 
Early extinguishment of debt 2  18 
Stock-based compensation expense 25  20 
Development advance notes amortization 9  7 
Gain on asset sale, net (35) — 
Separation-related expenses —  3 
Foreign currency impact of highly inflationary countries
 2  1 
Adjusted EBITDA
 $ 524  $ 459