Quarterly report [Sections 13 or 15(d)]

Revenue Recognition (Tables)

v3.25.3
Revenue Recognition (Tables)
 9 Months Ended
Sep. 30, 2025
Revenue from Contract with Customer [Abstract]  
Schedule of Contract Liabilities Deferred revenues as of September 30, 2025 and December 31, 2024 are as follows:
September 30, 2025 December 31, 2024
Deferred initial franchise fee revenues
 $ 148  $ 145 
Deferred loyalty program revenues
 93  97 
Deferred co-branded credit card program revenues
 62  22 
Deferred other revenues
 15  26 
Total
 $ 318  $ 290 
Schedule of Performance Obligations The following table summarizes the Company’s remaining performance obligations for the twelve-month periods set forth below:
10/1/2025 - 9/30/2026 10/1/2026 - 9/30/2027 10/1/2027 - 9/30/2028

Thereafter

Total
Initial franchise fee revenues
 $ 16  $ 8  $ 7  $ 117  $ 148 
Loyalty program revenues
 58  26  8  1  93 
Co-branded credit card program revenues
 12  12  11  27  62 
Other revenues
 10  1  1  3  15 
Total
 $ 96  $ 47  $ 27  $ 148  $ 318 
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,
2025 2024 2025 2024
Royalties and franchise fees
 $ 147  $ 159  $ 420  $ 419 
Marketing and reservation fees 128  136  365  356 
Loyalty revenue 21  25  66  73 
Management and other fees
 2  3  7  7 
License and other fees 35  32  95  89 
Partnership fees (a)
24  17  71  53 
Cost reimbursements
 —  2  —  4 
Other revenue 25  22  71  66 
Net revenues
 $ 382  $ 396  $ 1,095  $ 1,067 
______________________
(a)    Partnership fees are related to third-party partnership agreements, including the Company's co-branded credit card program. Such fees were previously reported within other revenue.