Annual report pursuant to Section 13 and 15(d)

Segment Information (Tables)

v3.25.0.1
Segment Information (Tables)
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Summary of Segment Information
Provided below is the Company’s segment profitability measure and significant segment expenses.
Year Ended December 31,
2024 2023
Net revenues
 $ 1,408  $ 1,397 
Less expenses (a)
Compensation
 (255) (241)
Selling and advertising
 (119) (136)
Outsourced services and information technology (b)
(127) (120)
Professional fees
 (90) (85)
Other segment items (c)
(189) (209)
Corporate expenses (d)
(339) (317)
Consolidated net income
 $ 289  $ 289 
_____________________
(a)    The significant expense categories and amounts align with the segment-level information that is regularly provided to the Company’s CODM.
(b)    Information technology costs primarily include maintenance costs and software as a service cost.
(c)    Other segment items include depreciation and amortization, stock-based compensation, restructuring costs, impairment charge, cost reimbursements, travel and entertainment, insurance and other operating expenses.
(d)    Corporate expenses include interest expense, net, transaction and separation-related expenses, provision for income taxes, early extinguishment of debt, compensation costs, and other overhead costs.
Provided below is the Company’s significant segment expense disclosure for 2022. Due to the adoption of the 2023 Accounting Update, the Company is a single reporting segment managed on a consolidated basis and therefore the 2023 and 2024 significant segment expense disclosure is not comparable to 2022 as the Company had two reportable segments.
Year Ended December 31,
2022
Hotel Franchising
Hotel Management
 Total
Net revenues
 $ 1,277  $ 221  $ 1,498 
Less expenses (a)
Compensation
 (213) (9)
Selling and advertising
 (134) — 
Outsourced services and information technology (b)
(119) (1)
Professional fees
 (80) (2)
Other segment items (c)
(148) (148)
Segment net income
 $ 583  $ 61  $ 644 
Reconciliation of profit or loss (segment profit/(loss))
Adjustments and reconciling items
Corporate (d)
(289)
Consolidated net income
 $ 355 
_____________________
(a)    The significant expense categories and amounts align with the segment-level information that is regularly provided to the Company’s CODM.
(b)    Information technology costs primarily include maintenance costs and software as a service cost.
(c)    Other segment items include depreciation and amortization, stock-based compensation, gain on asset sale, net, cost reimbursements, travel and entertainment, insurance and other operating expenses.
(d)    Corporate includes provision for income taxes, interest expense, net, compensation costs, and other overhead costs.
Hotel Franchising (a)
Hotel Management
Corporate (b)
Total
Year Ended or as of December 31, 2022
Depreciation and amortization
 $ 63  $ 5  $ 9  $ 77 
Segment assets
 3,711  113  299  4,123 
Capital expenditures
 33  —  6  39 
_____________________
(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)    Includes the elimination of transactions between segments.
Revenue from External Customers by Geographic Areas
The geographic segment information provided below is classified based on the geographic location of the Company’s subsidiaries.
United States
All Other Countries (a)
Total
Year Ended or As of December 31, 2024
Net revenues $ 1,125  $ 283  $ 1,408 
Net long-lived assets 2,979  188  3,167 
Year Ended or As of December 31, 2023
Net revenues $ 1,142  $ 255  $ 1,397 
Net long-lived assets 3,002  190  3,192 
Year Ended or As of December 31, 2022
Net revenues $ 1,271  $ 227  $ 1,498 
Net long-lived assets 3,126  104  3,230 
_____________________
(a)    Includes U.S. territories.
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas
The geographic segment information provided below is classified based on the geographic location of the Company’s subsidiaries.
United States
All Other Countries (a)
Total
Year Ended or As of December 31, 2024
Net revenues $ 1,125  $ 283  $ 1,408 
Net long-lived assets 2,979  188  3,167 
Year Ended or As of December 31, 2023
Net revenues $ 1,142  $ 255  $ 1,397 
Net long-lived assets 3,002  190  3,192 
Year Ended or As of December 31, 2022
Net revenues $ 1,271  $ 227  $ 1,498 
Net long-lived assets 3,126  104  3,230 
_____________________
(a)    Includes U.S. territories.
Long-lived Assets by Geographic Areas
The geographic segment information provided below is classified based on the geographic location of the Company’s subsidiaries.
United States
All Other Countries (a)
Total
Year Ended or As of December 31, 2024
Net revenues $ 1,125  $ 283  $ 1,408 
Net long-lived assets 2,979  188  3,167 
Year Ended or As of December 31, 2023
Net revenues $ 1,142  $ 255  $ 1,397 
Net long-lived assets 3,002  190  3,192 
Year Ended or As of December 31, 2022
Net revenues $ 1,271  $ 227  $ 1,498 
Net long-lived assets 3,126  104  3,230 
_____________________
(a)    Includes U.S. territories.