v3.25.4
Business Segments - Reconciliation of Revenues from Segments to Consolidated (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Segment Reporting, Revenue Reconciling Items [Line Items]      
Revenues $ 12,039 $ 11,174 $ 10,235
Amortization of contract acquisition costs (57) (50) (43)
Segment revenues      
Segment Reporting, Revenue Reconciling Items [Line Items]      
Revenues 4,808 4,594 4,299
Segment revenues | Management and franchise      
Segment Reporting, Revenue Reconciling Items [Line Items]      
Revenues 3,575 3,339 3,055
Segment revenues | Ownership      
Segment Reporting, Revenue Reconciling Items [Line Items]      
Revenues 1,233 1,255 1,244
Segment Reconciling Items      
Segment Reporting, Revenue Reconciling Items [Line Items]      
Amortization of contract acquisition costs (57) (50) (43)
Intersegment eliminations      
Segment Reporting, Revenue Reconciling Items [Line Items]      
Revenues [1] 49 30 26
Franchise and licensing fees      
Segment Reporting, Revenue Reconciling Items [Line Items]      
Revenues 2,780 2,600 2,370
Franchise and licensing fees | Management and franchise      
Segment Reporting, Revenue Reconciling Items [Line Items]      
Revenues 2,806 2,622 2,388
Base and other management fees      
Segment Reporting, Revenue Reconciling Items [Line Items]      
Revenues 376 369 342
Base and other management fees | Management and franchise      
Segment Reporting, Revenue Reconciling Items [Line Items]      
Revenues [1] 437 427 393
Incentive management fees      
Segment Reporting, Revenue Reconciling Items [Line Items]      
Revenues 313 290 274
Incentive management fees | Management and franchise      
Segment Reporting, Revenue Reconciling Items [Line Items]      
Revenues [1] 332 290 274
Other revenues      
Segment Reporting, Revenue Reconciling Items [Line Items]      
Revenues 252 232 178
Other revenues | Segment Reconciling Items      
Segment Reporting, Revenue Reconciling Items [Line Items]      
Revenues 252 232 178
Cost reimbursement revenues      
Segment Reporting, Revenue Reconciling Items [Line Items]      
Revenues 7,085 6,428 5,827
Cost reimbursement revenues | Segment Reconciling Items      
Segment Reporting, Revenue Reconciling Items [Line Items]      
Revenues [2] $ 7,085 $ 6,428 $ 5,827
[1] Includes management, royalty and IP fees charged to consolidated hotels in our ownership segment by our management and franchise segment, which were eliminated in our consolidated statements of operations.
[2] Amounts include revenues from the operation of programs conducted for the benefit of property owners and exclude cash receipts recorded as deferred revenues on our consolidated balance sheets related to these programs. Under the terms of the related contracts, we do not operate these programs to generate a profit and have contractual rights to adjust future collections to recover prior period expenditures.