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
— 
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  $ $ $ 111  $ 142 
Loyalty program revenues
64  24  99 
Other revenues
18  —  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
11 
License and other fees 32  30  89  83 
Cost reimbursements
12 
Other revenue 39  36  119  110 
Net revenues
$ 396  $ 402  $ 1,067  $ 1,076