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Segment Information
 12 Months Ended
Dec. 31, 2021
Segment Reporting [Abstract]  
Segment Information
16. SEGMENT INFORMATION
The reportable segments presented below represent the Company’s operating segments for which separate financial information is available and is utilized on a regular basis by its chief operating decision maker to assess performance and allocate resources. In identifying its reportable segments, the Company also considers the nature of services provided by its operating segments. Management evaluates the operating results of each of its reportable segments based upon net revenues and “adjusted EBITDA”, which is defined as net income/(loss) excluding net interest expense, depreciation and amortization, early extinguishment of debt charges, impairment charges, restructuring and related charges, contract termination costs, transaction-related items (acquisition-, disposition- or separation-related), foreign currency impacts of highly inflationary countries, stock-based compensation expense, income taxes and development advance notes amortization. The Company believes that adjusted EBITDA is a useful measure of performance for its segments which, when considered with U.S. GAAP measures, allows a more complete understanding of its operating performance. The Company uses this measure internally to assess operating performance, both absolutely and in comparison to other companies, and to make day to day operating decisions, including in the evaluation of selected compensation decisions. The Company’s presentation of adjusted EBITDA may not be comparable to similarly-titled measures used by other companies. During the first quarter of 2021, the Company modified the definition of adjusted EBITDA to exclude the amortization of development advance notes to reflect how the Company’s chief operating decision maker reviews operating performance beginning in 2021. The Company has applied the modified definition of adjusted EBITDA to all periods presented.
Hotel Franchising
Hotel Management
Corporate and Other (a)
Total
Year Ended or as of December 31, 2021
Net revenues
$1,099 $466 $— $1,565 
Adjusted EBITDA
592 57 (59)590 
Depreciation and amortization
60 26 9 95 
Segment assets
3,575 394 300 4,269 
Capital expenditures
30 4 3 37 
Year Ended or as of December 31, 2020
Net revenues
$863 $437 $— $1,300 
Adjusted EBITDA (b)
392 13 (69)336 
Depreciation and amortization
63 25 10 98 
Segment assets
3,629 418 597 4,644 
Capital expenditures
24 4 5 33 
Year Ended or as of December 31, 2019
Net revenues
$1,279 $768 $6 $2,053 
Adjusted EBITDA (b)
629 66 (74)621 
Depreciation and amortization
72 26 11 109 
Segment assets
3,817 500 216 4,533 
Capital expenditures
35 8 7 50 
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(a)    Includes the elimination of transactions between segments.
(b)    Adjusted EBITDA for 2020 and 2019 has been recasted to conform with the current year presentation.
Provided below is a reconciliation of net income/(loss) to adjusted EBITDA.
Year Ended December 31,
2021
2020 (a)
2019 (a)
Net income/(loss)$244 $(132)$157 
Provision for/(benefit from) income taxes91 (26)50 
Depreciation and amortization95 98 109 
Interest expense, net93 112 100 
Early extinguishment of debt18 — — 
Stock-based compensation expense28 19 15 
Development advance notes amortization11 9 8 
Impairments, net6 206 45 
Separation-related expenses3 2 22 
Restructuring costs— 34 8 
Transaction-related expenses, net— 12 40 
Contract termination costs— — 42 
Transaction-related item— — 20 
Foreign currency impact of highly inflationary countries1 2 5 
Adjusted EBITDA
$590 $336 $621 

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(a)    Adjusted EBITDA for 2020 and 2019 has been recasted to conform with the current year presentation.
The geographic segment information provided below is classified based on the geographic location of the Company’s subsidiaries.
United States
All Other Countries (a)
Total
Year Ended or As of December 31, 2021
Net revenues$1,366 $199 $1,565 
Net long-lived assets3,199 107 3,306 
Year Ended or As of December 31, 2020
Net revenues$1,159 $141 $1,300 
Net long-lived assets3,334 184 3,518 
Year Ended or As of December 31, 2019
Net revenues$1,805 $248 $2,053 
Net long-lived assets3,619 173 3,792 
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(a)    Includes U.S. territories.