v3.26.1
Revenue Recognition (Tables)
 6 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
Schedule of Contract Liabilities Deferred revenues as of June 30, 2026 and December 31, 2025 are as follows:
June 30, 2026December 31, 2025
Deferred initial franchise fee revenues
$155 $151 
Deferred loyalty program revenues
108 91 
Deferred co-branded credit card program revenues
91 98 
Deferred other revenues
17 14 
Total
$371 $354 
Schedule of Performance Obligations The following table summarizes the Company’s remaining performance obligations for the twelve-month periods set forth below:
7/1/2026 - 6/30/20277/1/2027 - 6/30/20287/1/2028 - 6/30/2029

Thereafter

Total
Initial franchise fee revenues
$18 $14 $9 $114 $155 
Loyalty program revenues
69 28 9 2 108 
Co-branded credit card program revenues
48 14 12 17 91 
Other revenues
12 1 1 3 17 
Total
$147 $57 $31 $136 $371 
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 June 30,Six Months Ended June 30,
2026202520262025
Royalties and franchise fees
$139 $147 $253 $272 
Marketing and reservation fees122 140 220 238 
Loyalty revenue23 25 47 43 
Management fees
2 2 5 5 
Owned hotel revenues3 — 4 — 
License and other fees32 33 62 60 
Partnership fees (a)
28 24 62 47 
Other revenue26 26 49 48 
Net revenues
$375 $397 $702 $713 
______________________
(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.