Quarterly report pursuant to Section 13 or 15(d)

Revenue Recognition (Tables)

v3.24.3
Revenue Recognition (Tables)
 9 Months Ended
Sep. 30, 2024
Revenue from Contract with Customer [Abstract]  
Schedule of Contract Liabilities Deferred revenues as of September 30, 2024 and December 31, 2023 are as follows:
September 30, 2024 December 31, 2023
Deferred initial franchise fee revenues
 $ 142  $ 145 
Deferred loyalty program revenues
 99  95 
Deferred co-branded credit card program revenues
 —  3 
Deferred other revenues
 22  15 
Total
 $ 263  $ 258 
Schedule of Performance Obligations The following table summarizes the Company’s remaining performance obligations for the twelve-month periods set forth below:
10/1/2024 - 9/30/2025 10/1/2025 - 9/30/2026 10/1/2026 - 9/30/2027

Thereafter

Total
Initial franchise fee revenues
 $ 16  $ 8  $ 7  $ 111  $ 142 
Loyalty program revenues
 64  24  9  2  99 
Other revenues
 18  1  —  3  22 
Total
 $ 98  $ 33  $ 16  $ 116  $ 263 
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 September 30, Nine Months Ended September 30,
2024 2023 2024 2023
Royalties and franchise fees
 $ 159  $ 152  $ 419  $ 415 
Marketing and reservation fees 136  155  356  380 
Loyalty revenue 25  24  73  65 65 
Management and other fees
 3  3  7  11 
License and other fees 32  30  89  83 
Cost reimbursements
 2  2  4  12 
Other revenue 39  36  119  110 
Net revenues
 $ 396  $ 402  $ 1,067  $ 1,076