Quarterly report [Sections 13 or 15(d)]

Revenue Recognition (Tables)

v3.25.1
Revenue Recognition (Tables)
 3 Months Ended
Mar. 31, 2025
Revenue from Contract with Customer [Abstract]  
Schedule of Contract Liabilities Deferred revenues as of March 31, 2025 and December 31, 2024 are as follows:
March 31, 2025 December 31, 2024
Deferred initial franchise fee revenues
 $ 146  $ 145 
Deferred loyalty program revenues
 89  97 
Deferred co-branded credit card program revenues
 74  22 
Deferred other revenues
 33  26 
Total
 $ 342  $ 290 
Schedule of Performance Obligations The following table summarizes the Company’s remaining performance obligations for the twelve-month periods set forth below:
4/1/2025 - 3/31/2026 4/1/2026 - 3/31/2027 4/1/2027 - 3/31/2028

Thereafter

Total
Initial franchise fee revenues
 $ 16  $ 9  $ 9  $ 112  $ 146 
Loyalty program revenues
 55  24  8  2  89 
Co-branded credit card program revenues
 18  11  11  34  74 
Other revenues
 29  1  —  3  33 
Total
 $ 118  $ 45  $ 28  $ 151  $ 342 
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 March 31,
2025 2024
Royalties and franchise fees
 $ 126  $ 116 
Marketing and reservation fees 98  97 
Loyalty revenue 18  20 
Management and other fees
 2  2 
License and other fees 27  26 
Cost reimbursements
 —  1 
Other revenue 45  43 
Net revenues
 $ 316  $ 305