Quarterly report pursuant to Section 13 or 15(d)

Segment Information (Tables)

v3.21.2
Segment Information (Tables)
 9 Months Ended
Sep. 30, 2021
Segment Reporting [Abstract]  
Summary of Net Revenues and Adjusted EBITDA by Segment
Three Months Ended September 30,
2021 2020
Net Revenues
Adjusted EBITDA
Net Revenues
Adjusted EBITDA (a)
Hotel Franchising
 $ 337  $ 193  $ 236  $ 119 
Hotel Management
 126  16  101  2 
Total Reportable Segments
 463  209  337  121 
Corporate and Other
 —  (15) —  (18)
Total Company
 $ 463  $ 194  $ 337  $ 103 
______________________
(a)Adjusted EBITDA for 2020 has been recasted to conform with the current year presentation.
Reconciliation of Net Income to Adjusted EBITDA
The table below is a reconciliation of net income to adjusted EBITDA.
Three Months Ended September 30,
2021
2020 (a)
Net income $ 103  $ 27 
Provision for income taxes 36  15 
Depreciation and amortization 23  24 
Interest expense, net 22  29 
Stock-based compensation expense 7  5 
Development advance notes amortization 3  2 
Foreign currency impact of highly inflationary countries
 —  1 
Adjusted EBITDA
 $ 194  $ 103 
______________________
(a)Adjusted EBITDA for 2020 has been recasted to conform with the current year presentation.