v3.26.1
Franchising, Marketing and Reservation Activities (Tables)
 6 Months Ended
Jun. 30, 2026
Franchisors [Abstract]  
Condensed Balance Sheet
The Company’s Condensed Consolidated Financial Statements include the following with respect to development advances:
Condensed Consolidated Balance Sheets:
June 30, 2026December 31, 2025
Other non-current assets (a)
$374 $343 
Condensed Income Statement
Condensed Consolidated Statements of Income:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Forgiveness of notes (b)
$9 $8 $16 $14 
Bad debt expense related to notes
— — — 1 
______________________
(a)    Development advance notes were reduced by $10 million due to the non-cash hotel acquisitions. Accordingly, the Company has no remaining net book value relating to development advance notes from Revo as of June 30, 2026. See Note 5 - Non-Cash Hotel Acquisitions for more details.
(b)    Amounts are primarily recorded as a reduction of both royalties and franchise fees and marketing, reservation and loyalty revenues on the Condensed Consolidated Statements of Income.
Condensed Cash Flow Statement
Condensed Consolidated Statements of Cash Flows:
Six Months Ended June 30,
20262025
Payments of development advance notes$(61)$(53)
Proceeds from repayment of development advance notes4 2 
Payments of development advance notes, net
$(57)$(51)