Quarterly report pursuant to Section 13 or 15(d)

Revenue Recognition (Tables)

v3.24.2
Revenue Recognition (Tables)
 6 Months Ended
Jun. 30, 2024
Revenue from Contract with Customer [Abstract]  
Schedule of Contract Liabilities Deferred revenues as of June 30, 2024 and December 31, 2023 are as follows:
June 30, 2024 December 31, 2023
Deferred initial franchise fee revenues
 $ 142  $ 145 
Deferred loyalty program revenues
 97  95 
Deferred co-branded credit card program revenues
 11  3 
Deferred other revenues
 20  15 
Total
 $ 270  $ 258 
Schedule of Performance Obligations The following table summarizes the Company’s remaining performance obligations for the twelve-month periods set forth below:
7/1/2024 - 6/30/2025 7/1/2025 - 6/30/2026 7/1/2026 - 6/30/2027

Thereafter

Total
Initial franchise fee revenues
 $ 16  $ 8  $ 7  $ 111  $ 142 
Loyalty program revenues
 64  23  8  2  97 
Co-branded credit card program revenues
 11  —  —  —  11 
Other revenues
 15  1  —  4  20 
Total
 $ 106  $ 32  $ 15  $ 117  $ 270 
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:
Three Months Ended June 30, Six Months Ended June 30,
2024 2023 2024 2023
Royalties and franchise fees
 $ 144  $ 142  $ 260  $ 263 
Marketing and reservation fees 123  125  220  224 
Loyalty revenue 27  20  47  41 
Management and other fees
 2  5  5  8 
License and other fees 31  29  57  53 
Cost reimbursements
 1  4  2  9 
Other revenue 39  37  80  76 
Net revenues
 $ 367  $ 362  $ 671  $ 674