Annual report [Section 13 and 15(d), not S-K Item 405]

Revenue Recognition (Tables)

v3.25.4
Revenue Recognition (Tables)
 12 Months Ended
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]  
Schedule of Contract Liabilities Deferred revenues as of December 31, 2025 and 2024 are as follows:
December 31, 2025 December 31, 2024
Deferred initial franchise fee revenues
 $ 151  $ 145 
Deferred loyalty program revenues
 91  97 
Deferred co-branded credit card program revenues
 98  22 
Deferred other revenues
 14  26 
Total
 $ 354  $ 290 
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:
2026 2027 2028
Thereafter
Total
Initial franchise fee revenues
 $ 17  $ 8  $ 8  $ 118  $ 151 
Loyalty program revenues
 56  25  8  2  91 
Co-branded credit card program revenues
 51  11  11  25  98 
Other revenues
 10  1  1  2  14 
Total
 $ 134  $ 45  $ 28  $ 147  $ 354 
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:
Year Ended December 31,
2025 2024 2023
Royalties and franchise fees
 $ 541  $ 555  $ 532 
Marketing and reservation fees
 471  467  487 
Loyalty revenue 91 96 91
Management and other fees 9 10 14
License and other fees
 126  119  112 
Partnership fees (a)
96  69  65 
Cost reimbursements —  4  13 
Other
 95  88  83 
Net Revenues
 $ 1,429  $ 1,408  $ 1,397 
_____________________
(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 as it relates to this table.