v3.26.3
Revenue Recognition (Tables)
 9 Months Ended
Sep. 30, 2026
Revenue from Contract with Customer [Abstract]  
Schedule of Contract Liabilities Deferred revenues as of September 30, 2026 and December 31, 2025 are as follows:
September 30, 2026December 31, 2025
Deferred initial franchise fee revenues
$152 $151 
Deferred loyalty program revenues
120 91 
Deferred co-branded credit card program revenues
64 98 
Deferred other revenues
18 14 
Total
$354 $354 
Schedule of Performance Obligations The following table summarizes the Company’s remaining performance obligations for the twelve-month periods set forth below:
10/1/2026 - 9/30/202710/1/2027 - 9/30/202810/1/2028 - 9/30/2029

Thereafter

Total
Initial franchise fee revenues
$17 $15 $9 $111 $152 
Loyalty program revenues
75 32 11 2 120 
Co-branded credit card program revenues
30 11 11 12 64 
Other revenues
13 1 1 3 18 
Total
$135 $59 $32 $128 $354 
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 September 30,Nine Months Ended September 30,
2026202520262025
Royalties and franchise fees
$156 $147 $409 $420 
Marketing and reservation fees135 128 355 365 
Loyalty revenue23 21 71 66 
Management fees
2 2 6 7 
Owned hotel revenues6 — 10 — 
License and other fees36 35 97 95 
Partnership fees (a)
27 24 88 71 
Other revenue25 25 76 71 
Net revenues
$410 $382 $1,112 $1,095 
______________________
(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.