Segment Information (Tables)

3 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

Summary of Net Revenues and Adjusted EBITDA by Segment

	Three Months Ended March 31,
	2024				2023
	Net Revenues		Adjusted EBITDA		Net Revenues		Adjusted EBITDA
Hotel Franchising	$	305	$	158	$	313	$	164
Corporate and Other	—		(17)		—		(17)
Total Company	$	305	$	141	$	313	$	147

Reconciliation of Net Income to Adjusted EBITDA

The table below is a reconciliation of net income to adjusted EBITDA.

	Three Months Ended March 31,
	2024		2023
Net income	$	16	$	67
Provision for income taxes	6		24
Depreciation and amortization	20		19
Interest expense, net	28		22
Stock-based compensation	10		9
Development advance notes amortization	5		3
Transaction-related	41		—
Impairment	12		—
Restructuring costs	3		—
Separation-related	—		2
Foreign currency impact of highly inflationary countries	—		1
Adjusted EBITDA	$	141	$	147