v3.26.3
Revenues from Contracts with Customers
 9 Months Ended
Sep. 30, 2026
Revenue from Contract with Customer [Abstract]  
Revenues from Contracts with Customers Revenues from Contracts with Customers
Contract Liabilities

The following table summarizes the activity of our contract liabilities, which are classified as components of current and long-term deferred revenues, during the nine months ended September 30, 2026:

(in millions)
Balance as of December 31, 2025
$2,354 
Cash received in advance and not recognized as revenue
805 
Revenue recognized(1)
(584)
Other(2)
(124)
Balance as of September 30, 2026
$2,451 
____________
(1)Primarily related to Hilton Honors, our guest loyalty program, including co-branded credit card arrangements.
(2)Primarily represents the changes in estimated transaction prices for our performance obligations related to the issuance of Hilton Honors points, which had no effect on revenues.

Performance Obligations

As of September 30, 2026, deferred revenues for unsatisfied performance obligations consisted of: (i) $1,581 million related to Hilton Honors that will be recognized as revenue over approximately the next two years; (ii) $857 million related to advance consideration received from hotel owners for application, initiation and other fees and system implementation fees; and (iii) $13 million related to other obligations. These performance obligations are recognized as revenue as discussed in Note 2: "Basis of Presentation and Summary of Significant Accounting Policies" in our Annual Report on Form 10-K for the fiscal year ended December 31, 2025.