XML 55 R44.htm IDEA: XBRL DOCUMENT v3.25.1

SEGMENT INFORMATION (Tables)

3 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

Schedule of Summarized Consolidated Financial Information by Segment

The following tables present revenues disaggregated by the nature of the product or service and by segment and a reconciliation of segment revenues to segment Adjusted EBITDA:

			Three Months Ended March 31, 2025
			Management and franchising						Owned and leased						Distribution						Segment Total						Eliminations						Total
Base management fees			$	120					$	—					$	—					$	120					$	(6)					$	114
Incentive management fees			77						—						—						77						(1)						76
Franchise and other fees			119						—						—						119						(2)						117
Gross fees			316						—						—						316						(9)						307
Rooms and packages			—						148						—						148						(4)						144
Food and beverage			—						46						—						46						—						46
Other			—						29						—						29						—						29
Owned and leased			—						223						—						223						(4)						219
Distribution			—						—						315						315						—						315
Other revenues			11						—						—						11						—						11
Segment revenues			327						223						315						865						(13)						852
Contra revenue			(20)						—						—						(20)						—						(20)
Revenues for reimbursed costs			886						—						—						886						—						886
Total revenues			$	1,193					$	223					$	315					$	1,731					$	(13)					$	1,718
Intersegment revenues			$	9					$	4					$	—					$	13

			Three Months Ended March 31, 2025
			Management and franchising						Owned and leased						Distribution						Segment Total
Segment revenues			$	327					$	223					$	315					$	865
Significant segment expenses:
Adjusted general and administrative expenses			(67)						(2)						—						(69)
Owned and leased expenses (1)			—						(206)						—						(206)
Distribution expenses (2)			—						—						(268)						(268)
Other segment items:
Other income (expenses) (3)			(24)						—						2						(22)
Pro rata share of unconsolidated owned and leased hospitality ventures' Adjusted EBITDA			—						12						—						12
Segment Adjusted EBITDA			$	236					$	27					$	49					$	312
(1) Includes intercompany management fee expenses paid to our management and franchising segment and promotional award redemptions earned by our owned and leased hotels related to our co-branded credit card programs, both of which are eliminated in consolidation.
(2) Includes intercompany commission fee expenses paid to our management and franchising segment, which are eliminated in consolidation.
(3) Management and franchising primarily includes direct costs associated with our co-branded credit card programs recognized in other direct costs. Distribution includes stock-based compensation expense recognized in distribution expenses.

			Three Months Ended March 31, 2024
			Management and franchising						Owned and leased						Distribution						Segment Total						Eliminations						Total
Base management fees			$	107					$	—					$	—					$	107					$	(9)					$	98
Incentive management fees			68						—						—						68						(4)						64
Franchise and other fees			102						—						—						102						(2)						100
Gross fees			277						—						—						277						(15)						262
Rooms and packages			—						194						—						194						(7)						187
Food and beverage			—						83						—						83						—						83
Other			—						39						—						39						—						39
Owned and leased			—						316						—						316						(7)						309
Distribution			—						—						319						319						—						319
Other revenues			9						—						26						35						—						35
Segment revenues			286						316						345						947						(22)						925
Contra revenue			(13)						—						—						(13)						—						(13)
Revenues for reimbursed costs			802						—						—						802						—						802
Total revenues			$	1,075					$	316					$	345					$	1,736					$	(22)					$	1,714
Intersegment revenues			$	15					$	7					$	—					$	22

			Three Months Ended March 31, 2024
			Management and franchising						Owned and leased						Distribution						Segment Total
Segment revenues			$	286					$	316					$	345					$	947
Significant segment expenses:
Adjusted general and administrative expenses			(63)						(3)						(6)						(72)
Owned and leased expenses (1)			—						(270)						—						(270)
Distribution expenses (2)			—						—						(276)						(276)
Other segment items:
Other income (expenses) (3)			(20)						2						(24)						(42)
Pro rata share of unconsolidated owned and leased hospitality ventures' Adjusted EBITDA			—						17						—						17
Segment Adjusted EBITDA			$	203					$	62					$	39					$	304
(1) Includes intercompany management fee expenses paid to our management and franchising segment and promotional award redemptions earned by our owned and leased hotels related to our co-branded credit card programs, both of which are eliminated in consolidation.
(2) Includes intercompany commission fee expenses paid to our management and franchising segment, which are eliminated in consolidation.
(3) Management and franchising primarily includes direct costs associated with our co-branded credit card programs recognized in other direct costs. Owned and leased includes the change in market performance of the underlying invested assets recognized in net gains (losses) and interest income from marketable securities held to fund rabbi trusts. Distribution includes stock-based compensation expense recognized in distribution expenses and the paid membership program prior to the UVC Transaction recognized in other direct costs.

The following table provides a reconciliation of segment Adjusted EBITDA to income before income taxes:

			Three Months Ended March 31,
			2025						2024
Segment Adjusted EBITDA			$	312					$	304
Unallocated overhead expenses			(40)						(46)
Eliminations			1						1
Contra revenue			(20)						(13)
Revenues for reimbursed costs			886						802
Reimbursed costs			(902)						(836)
Stock-based compensation expense (Note 14) (1)			(31)						(31)
Transaction and integration costs			(23)						(8)
Depreciation and amortization			(80)						(92)
Equity earnings (losses) from unconsolidated hospitality ventures			(12)						75
Interest expense			(66)						(38)
Gains on sales of real estate and other			—						403
Asset impairments			(4)						(17)
Other income (loss), net			43						54
Pro rata share of unconsolidated owned and leased hospitality ventures' Adjusted EBITDA			(12)						(17)
Income before income taxes			$	52					$	541
(1) Includes amounts recognized in general and administrative expenses and distribution expenses.

X

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

+ Details

Name:	us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_SegmentReportingAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration