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Revenue (Tables) | 12 Months Ended
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Dec. 31, 2024
Disclosure [Abstract] |
Summary of Group Revenue Disaggregated By Type of Revenue Stream and By Reportable Segment |
|  |  |  | Americas |  |  | EMEAA |  |  | Greater China |  |  | Central |  |  | Group |
Year ended 31 December 2024 |  |  |  | $m |  |  | $m |  |  | $m |  |  | $m |  |  | $m |
Franchise and base management fees |  |  |  |  | 958 |  |  |  | 277 |  |  |  | 122 |  |  |  | – |  |  |  | 1,357 |
Incentive management fees |  |  |  |  | 21 |  |  |  | 118 |  |  |  | 39 |  |  |  | – |  |  |  | 178 |
Central revenue |  |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | 239 |  |  |  | 239 |
Revenue from fee business |  |  |  |  | 979 |  |  |  | 395 |  |  |  | 161 |  |  |  | 239 |  |  |  | 1,774 |
Revenue from owned, leased and managed lease hotels |  |  |  |  | 162 |  |  |  | 353 |  |  |  | – |  |  |  | – |  |  |  | 515 |
Revenue from insurance activities |  |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | 23 |  |  |  | 23 |
|  |  |  |  | 1,141 |  |  |  | 748 |  |  |  | 161 |  |  |  | 262 |  |  |  | 2,312 |
System Fund revenues (note 31 ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,611 |
Reimbursable revenues (note 31 ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,000 |
Total revenue |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 4,923 |
|  |  |  | Americas |  |  | EMEAA |  |  | Greater China |  |  | Central |  |  | Group |
Year ended 31 December 2023 |  |  |  | $m |  |  | $m |  |  | $m |  |  | $m |  |  | $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 31 ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,564 |
Reimbursable revenues (note 31 ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 896 |
Total revenue |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 4,624 |
|  |  |  | Americas |  |  | EMEAA |  |  | Greater China |  |  | Central |  |  | Group |
Year ended 31 December 2022 |  |  |  | $m |  |  | $m |  |  | $m |  |  | $m |  |  | $m |
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 31 ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,217 |
Reimbursable revenues (note 31 ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 832 |
Total revenue |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 3,892 |
Summary of Information About Trade Receivables, Contract Assets, and Deferred Revenue |
31 December |  |  |  | 2024 $m |  |  |  |  | 2023 $m |
Trade receivables (note 16) |  |  |  |  | 651 |  |  |  |  |  | 580 |
Contract assets |  |  |  |  | 650 |  |  |  |  |  | 459 |
Deferred revenue |  |  |  |  | (2,060 | ) |  |  |  |  | (1,848 | )
Summary of Changes in Contract Assets and Deferred Revenue | Contract assets
|  |  |  | 2024 $m |  |  |  |  | 2023 $m |
At 1 January |  |  |  |  | 459 |  |  |  |  |  | 367 |
Additions |  |  |  |  | 237 |  |  |  |  |  | 129 |
Recognised as a deduction to revenue |  |  |  |  | (43 | ) |  |  |  |  | (37 | )
Impairment reversals (note 6 ) |  |  |  |  | 3 |  |  |  |  |  | – |
Repayments |  |  |  |  | – |  |  |  |  |  | (7 | )
Exchange and other adjustments |  |  |  |  | (6 | ) |  |  |  |  | 7 |
At 31 December |  |  |  |  | 650 |  |  |  |  |  | 459 |
Analysed as: |  |  |  |  |  |  |  |  |  |  |  |
Current |  |  |  |  | 38 |  |  |  |  |  | 35 |
Non-current |  |  |  |  | 612 |  |  |  |  |  | 424 |
|  |  |  |  | 650 |  |  |  |  |  | 459 |
Deferred revenue
|  |  |  | Loyalty programme $m |  |  | Other co-brand fees $m |  |  | Application & re-licensing fees $m |  |  | Other $m |  |  | Total $m |
At 1 January 2023 |  |  |  |  | 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 |
Increase in deferred revenue |  |  |  |  | 726 |  |  |  | 97 |  |  |  | 23 |  |  |  | 61 |  |  |  | 907 |
Recognised as revenue |  |  |  |  | (602 | ) |  |  | (8 | ) |  |  | (23 | ) |  |  | (58 | ) |  |  | (691 | )
Exchange and other adjustments |  |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | (4 | ) |  |  | (4 | )
At 31 December 2024 |  |  |  |  | 1,653 |  |  |  | 111 |  |  |  | 171 |  |  |  | 125 |  |  |  | 2,060 |
Analysed as: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  |  |  |  | 661 |  |  |  | 12 |  |  |  | 23 |  |  |  | 70 |  |  |  | 766 |
Non-current |  |  |  |  | 992 |  |  |  | 99 |  |  |  | 148 |  |  |  | 55 |  |  |  | 1,294 |
|  |  |  |  | 1,653 |  |  |  | 111 |  |  |  | 171 |  |  |  | 125 |  |  |  | 2,060 |
At 31 December 2023 analysed as: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  |  |  |  | 649 |  |  |  | 11 |  |  |  | 22 |  |  |  | 70 |  |  |  | 752 |
Non-current |  |  |  |  | 880 |  |  |  | 11 |  |  |  | 149 |  |  |  | 56 |  |  |  | 1,096 |
|  |  |  |  | 1,529 |  |  |  | 22 |  |  |  | 171 |  |  |  | 126 |  |  |  | 1,848 |
Amounts Received and Not Yet Recognised Relating to Performance Obligations |
|  |  |  | 2024 |  |  |  |  |  | 2023 |
|  |  |  | Loyalty and co-brand |  |  | Other |  |  | Total |  |  |  |  |  | Loyalty and co-brand |  |  | Other |  |  | Total |
|  |  |  | $m |  |  | $m |  |  | $m |  |  |  |  |  | $m |  |  | $m |  |  | $m |
Less than one year |  |  |  |  | 673 |  |  |  | 93 |  |  |  | 766 |  |  |  |  |  |  |  | 660 |  |  |  | 92 |  |  |  | 752 |
Between one and two years |  |  |  |  | 355 |  |  |  | 43 |  |  |  | 398 |  |  |  |  |  |  |  | 346 |  |  |  | 43 |  |  |  | 389 |
Between two and three years |  |  |  |  | 214 |  |  |  | 30 |  |  |  | 244 |  |  |  |  |  |  |  | 195 |  |  |  | 32 |  |  |  | 227 |
Between three and four years |  |  |  |  | 140 |  |  |  | 24 |  |  |  | 164 |  |  |  |  |  |  |  | 118 |  |  |  | 24 |  |  |  | 142 |
Between four and five years |  |  |  |  | 95 |  |  |  | 22 |  |  |  | 117 |  |  |  |  |  |  |  | 73 |  |  |  | 20 |  |  |  | 93 |
More than five years |  |  |  |  | 287 |  |  |  | 84 |  |  |  | 371 |  |  |  |  |  |  |  | 159 |  |  |  | 86 |  |  |  | 245 |
|  |  |  |  | 1,764 |  |  |  | 296 |  |  |  | 2,060 |  |  |  |  |  |  |  | 1,551 |  |  |  | 297 |  |  |  | 1,848 |
Movements in Contract Costs, Typically Developer Commissions |
|  |  |  | 2024 $m |  |  |  |  | 2023 $m |
At 1 January |  |  |  |  | 87 |  |  |  |  |  | 80 |
Costs incurred |  |  |  |  | 18 |  |  |  |  |  | 15 |
Charged to income statement |  |  |  |  | (8 | ) |  |  |  |  | (8 | )
Exchange and other adjustments |  |  |  |  | (2 | ) |  |  |  |  | – |
At 31 December |  |  |  |  | 95 |  |  |  |  |  | 87 |
Analysed as: |  |  |  |  |  |  |  |  |  |  |  |
Current |  |  |  |  | 5 |  |  |  |  |  | 5 |
Non-current |  |  |  |  | 90 |  |  |  |  |  | 82 |
|  |  |  |  | 95 |  |  |  |  |  | 87 |

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