Annual report pursuant to Section 13 and 15(d)

Revenue Recognition (Tables)

v3.25.0.1
Revenue Recognition (Tables)
 12 Months Ended
Dec. 31, 2024
Revenue from Contract with Customer [Abstract]  
Schedule of Contract Liabilities Deferred revenues as of December 31, 2024 and 2023 are as follows:
December 31, 2024 December 31, 2023
Deferred initial franchise fee revenues
 $ 145  $ 145 
Deferred loyalty program revenues
 97  95 
Deferred co-branded credit card program revenues
 22  3 
Deferred other revenues
 26  15 
Total
 $ 290  $ 258 
Schedule of Performance Obligations
Performance Obligations
A performance obligation is a promise in a contract to transfer a distinct good or service to a customer. The consideration received from a customer is allocated to each distinct performance obligation and recognized as revenue when, or as, each performance obligation is satisfied. The following table summarizes the Company’s remaining performance obligations for the years set forth below:
2025 2026 2027
Thereafter
Total
Initial franchise fee revenues
 $ 17  $ 8  $ 7  $ 113  $ 145 
Loyalty program revenues
 60  25  10  2  97 
Co-branded credit card program revenues
 22  —  —  —  22 
Other revenues
 22  1  —  3  26 
Total
 $ 121  $ 34  $ 17  $ 118  $ 290 
Schedule of Disaggregation of Net Revenues
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:
Year Ended December 31,
2024 2023 2022
Hotel Franchising (a)
Royalties and franchise fees
 $ 555  $ 532  $ 496 
Marketing and reservation fees
 467  487  457 
Loyalty revenue 96 91 86 
Management and other fees 10 14 — 
License and other fees
 119  112  100 
Cost reimbursements 4  13  — 
Other (b)
157  148  138 
Total Hotel Franchising
 1,408  1,397  1,277 
Hotel Management
Royalties and franchise fees
 n/a n/a 16 
Marketing, reservation and loyalty
 n/a n/a 1 
Owned hotel revenues
 n/a n/a 42 
Management fees
 n/a n/a 15 
Cost reimbursements
 n/a n/a 144 
Other
 n/a n/a 3 
Total Hotel Management
 n/a n/a 221 
Net revenues
 $ 1,408  $ 1,397  $ 1,498 
_____________________
(a)    For 2024 and 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.
(b)    The Company’s other revenues are primarily related to revenues from its co-branded credit card program and property management systems.