| Segment | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenues for reimbursed costs | $842.00M | $867.00M | $841.00M | $886.00M | $945.00M | $903.00M | $895.00M | $945.00M |
| Distribution | $278.00M | $221.00M | $205.00M | $315.00M | $262.00M | $192.00M | $177.00M | $274.00M |
| Rooms and packages | $203.00M | $201.00M | $179.00M | $148.00M | $223.00M | $341.00M | $326.00M | $146.00M |
| Base management fees | $109.00M | $105.00M | $111.00M | $120.00M | $120.00M | $113.00M | $120.00M | $133.00M |
| Franchise and other fees | $122.00M | $121.00M | $120.00M | $119.00M | $128.00M | $130.00M | $120.00M | $122.00M |
| Incentive management fees | $57.00M | $53.00M | $74.00M | $77.00M | $64.00M | $55.00M | $84.00M | $87.00M |
| Food and beverage | $81.00M | $58.00M | $57.00M | $46.00M | $53.00M | $54.00M | $62.00M | $48.00M |
| Other | $37.00M | $31.00M | $34.00M | $29.00M | $33.00M | $41.00M | $41.00M | $29.00M |
| Contra revenue | -$16.00M | -$27.00M | -$13.00M | -$20.00M | -$15.00M | -$34.00M | -$17.00M | -$23.00M |
| Other revenues | $10.00M | $13.00M | $11.00M | $11.00M | $11.00M | $13.00M | $4.00M | $0.00 |
| Total | $1.70B | $1.63B | $1.60B | $1.72B | $1.81B | $1.79B | $1.79B | $1.75B |