v3.26.3
Franchising, Marketing and Reservation Activities (Tables)
 9 Months Ended
Sep. 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:
September 30, 2026December 31, 2025
Other non-current assets (a)
$383 $343 
Condensed Income Statement
Condensed Consolidated Statements of Income:
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
Forgiveness of notes (b)
$9 $8 $26 $23 
Bad debt expense related to notes
— — — 1 
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(a)    Development advance notes were reduced by $10 million due to the non-cash hotel acquisitions. Accordingly, the Company has no remaining net book value relating to development advance notes from Revo as of September 30, 2026. See Note 5 - Non-Cash Hotel Acquisitions for more details.
(b)    Amounts are primarily recorded as a reduction of both royalties and franchise fees and marketing, reservation and loyalty revenues on the Condensed Consolidated Statements of Income.
Condensed Cash Flow Statement
Condensed Consolidated Statements of Cash Flows:
Nine Months Ended September 30,
20262025
Payments of development advance notes$(80)$(77)
Proceeds from repayment of development advance notes5 4 
Payments of development advance notes, net
$(75)$(73)