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Revenue (Tables) | 12 Months Ended
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Dec. 31, 2023
Text Block [Abstract] |
Summary of Group Revenue Disaggregated By Type of Revenue Stream and By Reportable Segment |
Year ended 31 December 2023 |  |  |  |  | Americas $m |  |  |  |  |  |  |  | EMEAA $m |  |  |  |  |  |  |  | Greater China $m |  |  |  | Central $m |  |  |  | Group $m |
Franchise and base management fees |  |  |  |  | 936 |  |  |  |  |  |  |  | 253 |  |  |  |  |  |  |  | 115 |  |  |  | – |  |  |  | 1,304 |
Incentive management fees |  |  |  |  | 21 |  |  |  |  |  |  |  | 101 |  |  |  |  |  |  |  | 46 |  |  |  | – |  |  |  | 168 |
Central revenue |  |  |  |  | – |  |  |  |  |  |  |  | – |  |  |  |  |  |  |  | – |  |  |  | 200 |  |  |  | 200 |
Revenue from fee business |  |  |  |  | 957 |  |  |  |  |  |  |  | 354 |  |  |  |  |  |  |  | 161 |  |  |  | 200 |  |  |  | 1,672 |
Revenue from owned, leased and managed lease hotels |  |  |  |  | 148 |  |  |  |  |  |  |  | 323 |  |  |  |  |  |  |  | – |  |  |  | – |  |  |  | 471 |
Revenue from insurance activities |  |  |  |  | – |  |  |  |  |  |  |  | – |  |  |  |  |  |  |  | – |  |  |  | 21 |  |  |  | 21 |
|  |  |  |  | 1,105 |  |  |  |  |  |  |  | 677 |  |  |  |  |  |  |  | 161 |  |  |  | 221 |  |  |  | 2,164 |
System Fund revenues (note 32) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,564 |
Reimbursable revenues (note 32) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 896 |
Total revenue |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 4,624 |
Year ended 31 December 2022 |  |  |  |  | Americas $m |  |  |  |  |  |  |  | EMEAA $m |  |  |  |  |  |  |  | Greater China $m |  |  |  | Central Re-presented $m | a |  |  | Group Re-presented $m | a
Franchise and base management fees |  |  |  |  | 861 |  |  |  |  |  |  |  | 215 |  |  |  |  |  |  |  | 71 |  |  |  | – |  |  |  | 1,147 |
Incentive management fees |  |  |  |  | 18 |  |  |  |  |  |  |  | 69 |  |  |  |  |  |  |  | 16 |  |  |  | – |  |  |  | 103 |
Central revenue |  |  |  |  | – |  |  |  |  |  |  |  | – |  |  |  |  |  |  |  | – |  |  |  | 184 |  |  |  | 184 |
Revenue from fee business |  |  |  |  | 879 |  |  |  |  |  |  |  | 284 |  |  |  |  |  |  |  | 87 |  |  |  | 184 |  |  |  | 1,434 |
Revenue from owned, leased and managed lease hotels |  |  |  |  | 126 |  |  |  |  |  |  |  | 268 |  |  |  |  |  |  |  | – |  |  |  | – |  |  |  | 394 |
Revenue from insurance activities |  |  |  |  | – |  |  |  |  |  |  |  | – |  |  |  |  |  |  |  | – |  |  |  | 15 |  |  |  | 15 |
|  |  |  |  | 1,005 |  |  |  |  |  |  |  | 552 |  |  |  |  |  |  |  | 87 |  |  |  | 199 |  |  |  | 1,843 |
System Fund revenues (note 32 ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,217 |
Reimbursable revenues (note 32) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 832 |
Total revenue |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 3,892 |
a | Re-presented for the adoption of IFRS 17 ‘Insurance Contracts’ (see New accounting standards and other presentational changes).
Year ended 31 December 2021 |  |  |  |  | Americas $m |  |  |  |  |  |  |  | EMEAA $m |  |  |  |  |  |  |  | Greater China $m |  |  |  | Central Re-presented $m | a |  | Group Re-presented a $m
Franchise and base management fees |  |  |  |  | 683 |  |  |  |  |  |  |  | 120 |  |  |  |  |  |  |  | 91 |  |  |  | – |  |  | 894
Incentive management fees |  |  |  |  | 8 |  |  |  |  |  |  |  | 29 |  |  |  |  |  |  |  | 25 |  |  |  | – |  |  | 62
Central revenue |  |  |  |  | – |  |  |  |  |  |  |  | – |  |  |  |  |  |  |  | – |  |  |  | 188 |  |  | 188
Revenue from fee business |  |  |  |  | 691 |  |  |  |  |  |  |  | 149 |  |  |  |  |  |  |  | 116 |  |  |  | 188 |  |  | 1,144
Revenue from owned, leased and managed lease hotels |  |  |  |  | 83 |  |  |  |  |  |  |  | 154 |  |  |  |  |  |  |  | – |  |  |  | – |  |  | 237
Revenue from insurance activities |  |  |  |  | – |  |  |  |  |  |  |  | – |  |  |  |  |  |  |  | – |  |  |  | 9 |  |  | 9
|  |  |  |  | 774 |  |  |  |  |  |  |  | 303 |  |  |  |  |  |  |  | 116 |  |  |  | 197 |  |  | 1,390
System Fund revenues (note 32) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 928
Reimbursable revenues (note 32) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 589
Total revenue |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2,907
a | Re-presented for the adoption of IFRS 17 ‘Insurance Contracts’ (see New accounting standards and other presentational changes).
Summary of Information About Trade Receivables, Contract Assets, and Deferred Revenue |
|  |  |  | 2023 $m |  |  |  | 2022 $m
Trade receivables (note 17) |  |  |  | 580 |  |  |  | 493
Contract assets |  |  |  | 459 |  |  |  | 367
Deferred revenue |  |  |  | (1,848) |  |  |  | (1,724)
Summary of Changes in Deferred Revenue | Contract assets
|  |  |  | 2023 $m |  |  |  | 2022 $m
At 1 January |  |  |  | 367 |  |  |  | 346
Additions |  |  |  | 129 |  |  |  | 70
Recognised as a deduction to revenue |  |  |  | (37) |  |  |  | (32)
Impairment charges (note 6) |  |  |  | – |  |  |  | (5)
Impairment reversals (note 6) |  |  |  | – |  |  |  | 3
Repayments |  |  |  | (7) |  |  |  | (3)
Exchange and other adjustments |  |  |  | 7 |  |  |  | (12)
At 31 December |  |  |  | 459 |  |  |  | 367
Analysed as: |  |  |  |  |  |  |  |
Current |  |  |  | 35 |  |  |  | 31
Non-current |  |  |  | 424 |  |  |  | 336
|  |  |  | 459 |  |  |  | 367
Deferred revenue
|  |  |  | Loyalty programme $m |  |  | Other co-brand fees $m |  |  | Application & re-licensing fees $m |  |  | Other $m |  |  | Total $m
At 1 January 2022 |  |  |  |  | 1,292 |  |  |  | 44 |  |  |  | 163 |  |  |  | 114 |  |  | 1,613
Increase in deferred revenue |  |  |  |  | 532 |  |  |  | – |  |  |  | 27 |  |  |  | 44 |  |  | 603
Recognised as revenue |  |  |  |  | (413 | ) |  |  | (11 | ) |  |  | (23 | ) |  |  | (44 | ) |  | (491)
Exchange and other adjustments |  |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | (1 | ) |  | (1)
At 31 December 2022 |  |  |  |  | 1,411 |  |  |  | 33 |  |  |  | 167 |  |  |  | 113 |  |  | 1,724
Increase in deferred revenue |  |  |  |  | 672 |  |  |  | – |  |  |  | 27 |  |  |  | 63 |  |  | 762
Recognised as revenue |  |  |  |  | (554 | ) |  |  | (11 | ) |  |  | (23 | ) |  |  | (48 | ) |  | (636)
Exchange and other adjustments |  |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | (2 | ) |  | (2)
At 31 December 2023 |  |  |  |  | 1,529 |  |  |  | 22 |  |  |  | 171 |  |  |  | 126 |  |  | 1,848
Analysed as: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  |  |  |  | 649 |  |  |  | 11 |  |  |  | 22 |  |  |  | 70 |  |  | 752
Non-current |  |  |  |  | 880 |  |  |  | 11 |  |  |  | 149 |  |  |  | 56 |  |  | 1,096
|  |  |  |  | 1,529 |  |  |  | 22 |  |  |  | 171 |  |  |  | 126 |  |  | 1,848
At 31 December 2022: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  |  |  |  | 584 |  |  |  | 11 |  |  |  | 23 |  |  |  | 63 |  |  | 681
Non-current |  |  |  |  | 827 |  |  |  | 22 |  |  |  | 144 |  |  |  | 50 |  |  | 1,043
|  |  |  |  | 1,411 |  |  |  | 33 |  |  |  | 167 |  |  |  | 113 |  |  | 1,724
Amounts Received and Not Yet Recognised Relating to Performance Obligations |
|  |  |  | 2023 |  |  |  |  | 2022
|  |  |  | Loyalty and co-brand $m |  |  | Other $m |  |  | Total $m |  |  |  |  | Loyalty and co-brand $m |  |  | Other $m |  |  | Total $m
Less than one year |  |  |  |  | 660 |  |  |  | 92 |  |  |  | 752 |  |  |  |  |  | 595 |  |  |  | 86 |  |  | 681
Between one and two years |  |  |  |  | 346 |  |  |  | 43 |  |  |  | 389 |  |  |  |  |  | 339 |  |  |  | 46 |  |  | 385
Between two and three years |  |  |  |  | 195 |  |  |  | 32 |  |  |  | 227 |  |  |  |  |  | 199 |  |  |  | 32 |  |  | 231
Between three and four years |  |  |  |  | 118 |  |  |  | 24 |  |  |  | 142 |  |  |  |  |  | 114 |  |  |  | 27 |  |  | 141
Between four and five years |  |  |  |  | 73 |  |  |  | 20 |  |  |  | 93 |  |  |  |  |  | 70 |  |  |  | 22 |  |  | 92
More than five years |  |  |  |  | 159 |  |  |  | 86 |  |  |  | 245 |  |  |  |  |  | 127 |  |  |  | 67 |  |  | 194
|  |  |  |  | 1,551 |  |  |  | 297 |  |  |  | 1,848 |  |  |  |  |  | 1,444 |  |  |  | 280 |  |  | 1,724
Movements in Contract Costs, Typically Developer Commissions |
|  |  |  |  | 2023 $m |  |  |  |  | 2022 $m
At 1 January |  |  |  |  |  | 80 |  |  |  |  |  | 77
Costs incurred |  |  |  |  |  | 15 |  |  |  |  |  | 13
Charged to income statement |  |  |  |  |  | (8) |  |  |  |  |  | (8)
Exchange and other adjustments |  |  |  |  |  | – |  |  |  |  |  | (2)
At 31 December |  |  |  |  |  | 87 |  |  |  |  |  | 80
Analysed as: |  |  |  |  |  |  |  |  |  |  |  |
Current |  |  |  |  |  | 5 |  |  |  |  |  | 5
Non-current |  |  |  |  |  | 82 |  |  |  |  |  | 75
|  |  |  |  |  | 87 |  |  |  |  |  | 80

X
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