v3.25.4
Revenues from Contracts with Customers (Tables)
12 Months Ended
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]  
Contract Liabilities
The following table summarizes the activity of our contract liabilities during the year ended December 31, 2025:

(in millions)
Balance as of December 31, 2024
$1,829 
Cash received in advance and not recognized as revenue
869 
Revenue recognized(1)
(570)
Other(2)
226 
Balance as of December 31, 2025
$2,354 
____________
(1)Primarily related to Hilton Honors, including co-branded credit card arrangements.
(2)Represents the changes in estimated transaction prices for our performance obligations related to the issuance of Hilton Honors points, which had no effect on revenues.