Quarterly report [Sections 13 or 15(d)]

Revenue Recognition (Tables)

v3.25.2
Revenue Recognition (Tables)
 6 Months Ended
Jun. 30, 2025
Revenue from Contract with Customer [Abstract]  
Schedule of Contract Liabilities Deferred revenues as of June 30, 2025 and December 31, 2024 are as follows:
June 30, 2025 December 31, 2024
Deferred initial franchise fee revenues
 $ 146  $ 145 
Deferred loyalty program revenues
 87  97 
Deferred co-branded credit card program revenues
 70  22 
Deferred other revenues
 16  26 
Total
 $ 319  $ 290 
Schedule of Performance Obligations The following table summarizes the Company’s remaining performance obligations for the twelve-month periods set forth below:
7/1/2025 - 6/30/2026 7/1/2026 - 6/30/2027 7/1/2027 - 6/30/2028

Thereafter

Total
Initial franchise fee revenues
 $ 17  $ 8  $ 7  $ 114  $ 146 
Loyalty program revenues
 53  24  9  1  87 
Co-branded credit card program revenues
 17  11  12  30  70 
Other revenues
 12  1  —  3  16 
Total
 $ 99  $ 44  $ 28  $ 148  $ 319 
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 June 30, Six Months Ended June 30,
2025 2024 2025 2024
Royalties and franchise fees
 $ 147  $ 144  $ 272  $ 260 
Marketing and reservation fees 140  123  238  220 
Loyalty revenue 25  27  43  47 
Management and other fees
 2  2  5  5 
License and other fees 33  31  60  57 
Cost reimbursements
 —  1  —  2 
Other revenue 50  39  95  80 
Net revenues
 $ 397  $ 367  $ 713  $ 671