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REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables) | 12 Months Ended
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Dec. 31, 2024
Revenue from Contract with Customer [Abstract] |
Schedule of Disaggregated Revenues by Segment from Contracts with Customers | The following tables show our disaggregated revenues by product and segment from contracts with customers. We operate our business in the following two segments: (i) Real estate sales and financing and (ii) Resort operations and club management. See Note 22: Business Segments for more information related to our segments.
($ in millions) | Year Ended December 31,
Real Estate Sales and Financing Segment | 2024 |  | 2023 |  | 2022
Sales of VOIs, net | $ | 1,909 |  |  | $ | 1,416 |  |  | $ | 1,491 |
Sales, marketing, brand and other fees | 637 |  |  | 634 |  |  | 620 |
Interest income | 425 |  |  | 273 |  |  | 235 |
Other financing revenue | 39 |  |  | 34 |  |  | 32 |
Real estate sales and financing segment revenues | $ | 3,010 |  |  | $ | 2,357 |  |  | $ | 2,378 |
($ in millions) | Year Ended December 31,
Resort Operations and Club Management Segment | 2024 |  | 2023 |  | 2022
Club management | $ | 303 |  |  | $ | 240 |  |  | $ | 227 |
Resort management | 419 |  |  | 329 |  |  | 307 |
Rental(1) | 682 |  |  | 623 |  |  | 586 |
Ancillary services | 51 |  |  | 43 |  |  | 40 |
Resort operations and club management segment revenues | $ | 1,455 |  |  | $ | 1,235 |  |  | $ | 1,160 |
(1)Excludes intersegment eliminations. See Note 22: Business Segments for additional information.
Schedule of Accounts Receivable from Contracts with Customers and Composition of Contract Liabilities | The following table provides information on our contracts with customers which are included in Accounts Receivable, net and Timeshare financing receivables, net, respectively, on our consolidated balance sheets:
($ in millions) | December 31,
Receivables from contracts with customers: | 2024 |  | 2023
Accounts receivable, net | $ | 219 |  |  | $ | 343 |
Timeshare financing receivables, net | 3,006 |  |  | 2,113 |
Total | $ | 3,225 |  |  | $ | 2,456 |
Contract liabilities include payments received or due in advance of satisfying our performance obligations. Such contract liabilities include advance deposits received on prepaid vacation packages for future stays at our resorts, deferred revenues related to sales of VOIs of projects under construction, Club activation fees and annual dues, the liability for bonus points awarded to our customers for purchase of VOIs at our properties or properties under our fee-for-service arrangements that may be redeemed in the future, deferred maintenance fees and other deferred revenue. The following table presents the composition of our contract liabilities:
($ in millions) | December 31,
Contract liabilities: | 2024 |  | 2023
Advanced deposits | $ | 226 |  |  | $ | 179 |
Deferred sales of VOIs of projects under construction | 92 |  | 39
Club activation fees and annual dues | 79 |  | 97
Bonus Point incentive liability(1) | 86 |  | 83
Deferred maintenance fees | 12 |  | 12
Other deferred revenue | 35 |  | 38
(1)This balance includes $52 million and $54 million of bonus point incentive liabilities included in Accounts payable, accrued expenses and other on our consolidated balance sheets as of December 31, 2024, and 2023, respectively. This liability is for incentives from VOI sales and sales and marketing expenses in conjunction with our fee-for-service arrangements.
Schedule of Deferred Revenue Cost of Sales and Direct Selling Costs from Sales of Project Under Construction | The following table presents the deferred revenue, deferred cost of VOI sales and deferred direct selling costs from sales of VOIs related to projects under construction:
|  | December 31,
($ in millions) |  | 2024 |  | 2023
Sales of VOIs, net |  | $ | 92 |  |  | $ | 39 |
Cost of VOI sales |  | 28 |  |  | 10 |
Sales and marketing expense |  | 13 |  |  | 6 |
Schedule of Remaining Transaction Price Related to Advanced Deposits Club Activation Fees and Club Bonus Points | The following table includes the remaining transaction price related to Advanced deposits, Club activation fees and Bonus Points as of December 31, 2024:
($ in millions) |  | Remaining Transaction Price |  | Recognition Period |  | Recognition Method
Advanced deposits |  | $ | 226 |  |  | 18 months |  | Upon customer stays
Club activation fees |  | 67 |  |  | 7 years |  | Straight-line basis over average inventory holding period
Bonus Points incentive liability |  | 86 |  |  | 18 - 30 months |  | Upon redemption

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