Quarterly report pursuant to Section 13 or 15(d)

Revenue Recognition (Tables)

v3.23.3
Revenue Recognition (Tables)
 9 Months Ended
Sep. 30, 2023
Revenue from Contract with Customer [Abstract]  
Schedule of Contract Liabilities Deferred revenues as of September 30, 2023 and December 31, 2022 are as follows:
September 30, 2023 December 31, 2022
Deferred initial franchise fee revenues
 $ 146  $ 143 
Deferred loyalty program revenues
 91  85 
Deferred other revenues
 16  19 
Total
 $ 253  $ 247 
Schedule of Performance Obligations The following table summarizes the Company’s remaining performance obligations for the twelve-month periods set forth below:
10/1/2023 - 9/30/2024 10/1/2024 - 9/30/2025 10/1/2025 - 9/30/2026

Thereafter

Total
Initial franchise fee revenues
 $ 16  $ 8  $ 7  $ 115  $ 146 
Loyalty program revenues
 56  23  9  3  91 
Other revenues
 11  1  1  3  16 
Total
 $ 83  $ 32  $ 17  $ 121  $ 253 
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 September 30, Nine Months Ended September 30,
2023 2022 2023 2022
Hotel Franchising (a)
Royalties and franchise fees
 $ 152  $ 148  $ 415  $ 381 
Marketing, reservation and loyalty
 179  159  445  416 
Management fees 3  —  11  — 
License and other fees
 30  28  83  74 
Cost reimbursements 2  —  12  — 
Other
 36  32  110  103 
Total Hotel Franchising
 402  367  1,076  974 
Hotel Management
Royalties and franchise fees
 n/a 4  n/a 13 
Owned hotel revenues
 n/a —  n/a 42 
Management fees
 n/a 3  n/a 12 
Cost reimbursements
 n/a 32  n/a 119 
Other
 n/a 1  n/a 4 
Total Hotel Management
 n/a 40  n/a 190 
Net revenues
 $ 402  $ 407  $ 1,076  $ 1,164 
______________________
(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.