Quarterly report pursuant to Section 13 or 15(d)

Revenue Recognition (Tables)

v3.23.2
Revenue Recognition (Tables)
 6 Months Ended
Jun. 30, 2023
Revenue from Contract with Customer [Abstract]  
Schedule of Contract Liabilities Deferred revenues as of June 30, 2023 and December 31, 2022 are as follows:
June 30, 2023 December 31, 2022
Deferred initial franchise fee revenues
 $ 144  $ 143 
Deferred loyalty program revenues
 87  85 
Deferred other revenues
 34  19 
Total
 $ 265  $ 247 
Schedule of Performance Obligations The following table summarizes the Company’s remaining performance obligations for the twelve-month periods set forth below:
7/1/2023 - 6/30/2024 7/1/2024 - 6/30/2025 7/1/2025 - 6/30/2026

Thereafter

Total
Initial franchise fee revenues
 $ 17  $ 8  $ 7  $ 112  $ 144 
Loyalty program revenues
 54  22  9  2  87 
Other revenues
 28  1  1  4  34 
Total
 $ 99  $ 31  $ 17  $ 118  $ 265 
Schedule of Disaggregation of Net Revenues
The table below presents a disaggregation of the Company’s net revenues from contracts with customers by major services and products for each of the Company’s segments:
Three Months Ended June 30, Six Months Ended June 30,
2023 2022 2023 2022
Hotel Franchising (a)
Royalties and franchise fees
 $ 142  $ 131  $ 263  $ 232 
Marketing, reservation and loyalty
 145  145  265  257 
Management fees 5  —  8  — 
License and other fees
 29  27  53  46 
Cost reimbursements 4  —  9  — 
Other
 37  32  76  71 
Total Hotel Franchising
 362  335  674  606 
Hotel Management
Royalties and franchise fees
 n/a 2  n/a 10 
Owned hotel revenues
 n/a 13  n/a 42 
Management fees
 n/a 3  n/a 9 
Cost reimbursements
 n/a 32  n/a 88 
Other
 n/a 1  n/a 2 
Total Hotel Management
 n/a 51  n/a 151 
Net revenues
 $ 362  $ 386  $ 674  $ 757 
______________________
(a)    For 2023, the Hotel Franchising segment includes the former Hotel Management segment, which is primarily comprised of the Company's remaining international full-service managed business.