System Fund (Tables)

12 Months Ended

Dec. 31, 2018

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Summary of System Fund Revenues

System Fund revenues comprise:

	2018 $m		2017 Restateda $m		2016 Restateda $m
Assessment fees and contributions received from hotels		979		934		887
Loyalty programme revenueb		254		308		312
		1,233		1,242		1,199

Summary of System Fund Expenses

System Fund expenses include:

	2018 $m		2017 $m		2016 $m
Marketingc		427		405		415
Payroll costs (note 4)		347		339		311
Depreciation and amortisation		45		36		31

^a  Restated for IFRS 15.

^b  Loyalty programme revenue is shown net of the cost of point redemptions (see note 3).

^c Restated to reflect a wider definition of marketing costs.