Revenue (Tables)

12 Months Ended

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-presenteda $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