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RELATED-PARTY TRANSACTIONS
 6 Months Ended
Jun. 30, 2026
Related Party Transactions [Abstract]  
RELATED-PARTY TRANSACTIONS RELATED-PARTY TRANSACTIONS
Related-party transactions entered into by us are summarized as follows:
Equity Method Investments—We have certain investments in unconsolidated hospitality ventures accounted for under the equity method, with ownership interests ranging from 20% to 50%. These entities own, operate, manage, or franchise properties or other hospitality-related businesses, through which we earn management, franchise, license, or royalty fees. We may also provide loans or guarantees to these entities (see Note 4, Note 6, and Note 13) and recognize related income. The following tables summarize amounts recorded on our condensed consolidated financial statements related to these investments:
June 30, 2026December 31, 2025
Receivables, net$44 $44 
Financing receivables, net124 124 
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Base management fees$4 $4 $8 $8 
Incentive management fees2 2 5 5 
Franchise and other fees18 18 37 35 
Other income (loss), net (1)— 2 1 3 
(1) Includes income recognized related to loans and guarantees.
In addition to the above fees, we provide services related to sales and revenue management, marketing, global care centers (including reservation and customer support), digital and technology, and digital media (collectively, "system-wide services") on behalf of owners of managed and franchised properties and administer the loyalty program for the benefit of Hyatt's portfolio of properties. These expenses have been, and will continue to be, reimbursed by our third-party owners and franchisees and are recognized in revenues for reimbursed costs and reimbursed costs on our condensed consolidated statements of income (loss).
Legal Services—A partner in a law firm that provided services to us throughout 2026 and 2025 is an immediate family member of a principal stockholder. During the three and six months ended June 30, 2026, we incurred $1 million and $2 million, respectively, of legal fees with this firm. During the three and six months ended June 30, 2025, we incurred $9 million and $23 million, respectively, of legal fees with this firm. At both June 30, 2026 and December 31, 2025, we had $1 million due to the law firm.
Class B Share Conversion—During the six months ended June 30, 2026 and June 30, 2025, 387,666 shares and 19,001 shares, respectively, of Class B common stock were converted on a share-for-share basis into shares of Class A common stock, $0.01 par value per share. The shares of Class B common stock that were converted into shares of Class A common stock have been retired, thereby reducing the shares of Class B common stock authorized and outstanding.