Wyndham Hotels & Resorts (WH) 10-Q 27 Jul 23 2023 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	6 Months Ended
	Jun. 30, 2023 shares
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
Document Transition Report	false
Entity File Number	001-38432
Entity Registrant Name	Wyndham Hotels & Resorts, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	82-3356232
Entity Address, Address Line One	22 Sylvan Way
Entity Address, City or Town	Parsippany,
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	07054
City Area Code	973
Local Phone Number	753-6000
Title of 12(b) Security	Common Stock
Trading Symbol	WH
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	84,256,948
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001722684
Current Fiscal Year End Date	--12-31

Condensed Consolidated and Comb

Condensed Consolidated and Combined Statements of Income/(Loss) (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Net revenues
Net revenues	$ 362	$ 386	$ 674	$ 757
Expenses
Operating	23	28	43	64
General and administrative	31	31	61	59
Depreciation and amortization	19	17	37	40
Transaction-related, net	4	0	4	0
(Gain)/loss on asset sales	0	1	0	(35)
Separation-related	(2)	(1)	0	(1)
Total expenses	239	241	438	452
Operating income	123	145	236	305
Interest expense, net	24	20	46	39
Early extinguishment of debt	(3)	(2)	(3)	(2)
Income before income taxes	96	123	187	264
Provision for income taxes	26	31	50	66
Net income	$ 70	$ 92	$ 137	$ 198
Earnings per share
Basic (in usd per share)	$ 0.82	$ 1	$ 1.59	$ 2.15
Diluted (in usd per share)	$ 0.82	$ 1	$ 1.59	$ 2.13
Fee-related and other revenues
Net revenues
Net revenues	$ 358	$ 354	$ 665	$ 669
Royalties and franchise fees
Net revenues
Net revenues	142	133	263	242
Marketing, reservation and loyalty
Net revenues
Net revenues	145	145	265	257
Expenses
Cost of revenues	160	133	284	237
Management and other fees
Net revenues
Net revenues	5	16	8	51
License and other fees
Net revenues
Net revenues	29	27	53	46
Other
Net revenues
Net revenues	37	33	76	73
Cost reimbursements
Net revenues
Net revenues	4	32	9	88
Expenses
Cost of revenues	$ 4	$ 32	$ 9	$ 88

Condensed Consolidated and Co_2

Condensed Consolidated and Combined Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 70	$ 92	$ 137	$ 198
Other comprehensive income/(loss), net of tax
Foreign currency translation adjustments	2	(2)	3	(2)
Unrealized gains/(losses) on cash flow hedges	2	9	(5)	40
Other comprehensive (loss)/income, net of tax	4	7	(2)	38
Comprehensive income	$ 74	$ 99	$ 135	$ 236

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 63	$ 161
Trade receivables, net	258	234
Prepaid expenses	73	59
Other current assets	74	91
Total current assets	468	545
Property and equipment, net	94	99
Goodwill	1,525	1,525
Other non-current assets	376	348
Total assets	4,056	4,123
Current liabilities:
Current portion of long-term debt	37	20
Accounts payable	63	39
Deferred revenues	99	83
Accrued expenses and other current liabilities	270	264
Total current liabilities	469	406
Long-term debt	2,021	2,057
Deferred income taxes	344	345
Deferred revenues	166	164
Other non-current liabilities	176	189
Total liabilities	3,176	3,161
Commitments and contingencies (Note 11)
Stockholders’ equity:
Preferred stock, $0.01 par value, authorized 6.0 shares, none issued and outstanding	0	0
Common stock, $0.01 par value, 102.1 and 101.6 issued as of June 30, 2023 and December 31, 2022	1	1
Treasury stock, at cost – 17.6 and 15.2 shares as of June 30, 2023 and December 31, 2022	(1,129)	(964)
Additional paid-in capital	1,578	1,569
Retained earnings	394	318
Accumulated other comprehensive income	36	38
Total stockholders’ equity	880	962
Total liabilities and stockholders’ equity	4,056	4,123
Trademarks, net
Current assets:
Intangible assets, net	1,232	1,232
Franchise agreements and other intangibles, net
Current assets:
Intangible assets, net	$ 361	$ 374

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Preferred stock, par value (in usd per share)	$ 0.01	$ 0.01
Preferred stock, authorized (in shares)	6,000,000	6,000,000
Preferred stock, issued (in shares)	0	0
Preferred stock, outstanding (in shares)	0	0
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, shares issued (in shares)	102,100,000	101,600,000

Condensed Consolidated and Co_3

Condensed Consolidated and Combined Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Operating activities
Net income	$ 137	$ 198
Adjustments to reconcile net income to net cash provided by/(used in) operating activities:
Depreciation and amortization	37	40
Deferred income taxes	0	(32)
Stock-based compensation	18	17
Gain on asset sales	0	(35)
Early extinguishment of debt	(3)	(2)
Net change in assets and liabilities:
Trade receivables	(24)	(5)
Prepaid expenses	(15)	(3)
Other current assets	19	56
Accounts payable, accrued expenses and other current liabilities	7	(5)
Deferred revenues	20	16
Payments of development advance notes, net	(31)	(13)
Other, net	5	6
Net cash provided by operating activities	176	242
Investing activities
Property and equipment additions	(18)	(18)
Proceeds from asset sales, net	0	263
Other, net	(1)	(1)
Net cash (used in)/provided by investing activities	(19)	244
Financing activities
Proceeds from borrowings	1,138	400
Principal payments on long-term debt	(1,149)	(404)
Debt issuance costs	(8)	(4)
Dividends to stockholders	(61)	(59)
Repurchases of common stock	(164)	(179)
Net share settlement of incentive equity awards	(9)	(11)
Other, net	(1)	1
Net cash used in financing activities	(254)	(256)
Effect of changes in exchange rates on cash, cash equivalents and restricted cash	(1)	(1)
Net (decrease)/increase in cash, cash equivalents and restricted cash	(98)	229
Cash, cash equivalents and restricted cash, beginning of period	161	171
Cash, cash equivalents and restricted cash, end of period	$ 63	$ 400

Condensed Consolidated and Co_4

Condensed Consolidated and Combined Statements of Equity (Unaudited) - USD ($) $ in Millions	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings, Appropriated [Member]	AOCI Attributable to Parent [Member]	Treasury Stock, Common
Balance as of beginning of period, shares at Dec. 31, 2021		92,000,000
Balance as of beginning of period, value at Dec. 31, 2021	$ 1,089	$ 1	$ 1,543	$ 79	$ (15)	$ (519)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	106			106
Period change	31				31
Dividends	(30)			(30)
Repurchase of common stock	(38)					(38)
Net share settlement of incentive equity awards	(9)		(9)
APIC, Share-Based Payment Arrangement, Other, Increase for Cost Recognition	8		8
Stock Issued During Period, Value, Stock Options Exercised	2		2
Ending balance, shares at Mar. 31, 2022		92,000,000
Balance as of end of period, value at Mar. 31, 2022	1,159	$ 1	1,544	155	16	(557)
Balance as of beginning of period, shares at Dec. 31, 2021		92,000,000
Balance as of beginning of period, value at Dec. 31, 2021	1,089	$ 1	1,543	79	(15)	(519)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	198
Period change	38
Ending balance, shares at Jun. 30, 2022		90,000,000
Balance as of end of period, value at Jun. 30, 2022	1,096	$ 1	1,553	218	23	(699)
Balance as of beginning of period, shares at Mar. 31, 2022		92,000,000
Balance as of beginning of period, value at Mar. 31, 2022	1,159	$ 1	1,544	155	16	(557)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	92			92
Period change	7				7
Dividends	(29)			(29)
Repurchase of common stock	(142)					(142)
Net share settlement of incentive equity awards	(2)		(2)
APIC, Share-Based Payment Arrangement, Other, Increase for Cost Recognition	9		9
Stock Issued During Period, Value, Stock Options Exercised	2		2
Ending balance, shares at Jun. 30, 2022		90,000,000
Balance as of end of period, value at Jun. 30, 2022	$ 1,096	$ 1	1,553	218	23	(699)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock Repurchased During Period, Shares	(2,000,000)
Balance as of beginning of period, shares at Dec. 31, 2022		86,000,000
Balance as of beginning of period, value at Dec. 31, 2022	$ 962	$ 1	1,569	318	38	(964)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	67			67
Period change	(6)				(6)
Dividends	(31)			(31)
Repurchase of common stock	(56)					(56)
Net share settlement of incentive equity awards	(9)		(9)
APIC, Share-Based Payment Arrangement, Other, Increase for Cost Recognition	9		9
Ending balance, shares at Mar. 31, 2023		86,000,000
Balance as of end of period, value at Mar. 31, 2023	936	$ 1	1,569	354	32	(1,020)
Balance as of beginning of period, shares at Dec. 31, 2022		86,000,000
Balance as of beginning of period, value at Dec. 31, 2022	962	$ 1	1,569	318	38	(964)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	137
Period change	(2)
Ending balance, shares at Jun. 30, 2023		84,000,000
Balance as of end of period, value at Jun. 30, 2023	880	$ 1	1,578	394	36	(1,129)
Balance as of beginning of period, shares at Mar. 31, 2023		86,000,000
Balance as of beginning of period, value at Mar. 31, 2023	936	$ 1	1,569	354	32	(1,020)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	70			70
Period change	4				4
Dividends	(30)			(30)
Repurchase of common stock	(109)					(109)
APIC, Share-Based Payment Arrangement, Other, Increase for Cost Recognition	9		9
Ending balance, shares at Jun. 30, 2023		84,000,000
Balance as of end of period, value at Jun. 30, 2023	$ 880	$ 1	$ 1,578	$ 394	$ 36	$ (1,129)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock Repurchased During Period, Shares	(2,000,000)

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	1. BASIS OF PRESENTATION Wyndham Hotels & Resorts, Inc. (collectively with its consolidated subsidiaries, “Wyndham Hotels” or the “Company”) is a leading global hotel franchisor, licensing its renowned hotel brands to hotel owners in over 95 countries around the world. The Condensed Consolidated Financial Statements have been prepared on a stand-alone basis. The Condensed Consolidated Financial Statements include the Company’s assets, liabilities, revenues, expenses and cash flows and all entities in which it has a controlling financial interest. The accompanying Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). All intercompany balances and transactions have been eliminated in the Condensed Consolidated Financial Statements. In presenting the Condensed Consolidated Financial Statements, management makes estimates and assumptions that affect the amounts reported and related disclosures. Estimates, by their nature, are based on judgment and available information. Accordingly, actual results could differ from those estimates. In management’s opinion, the Condensed Consolidated Financial Statements contain all normal recurring adjustments necessary for a fair presentation of interim results reported. The results of operations reported for interim periods are not necessarily indicative of the results of operations for the entire year or any subsequent interim period. These Condensed Consolidated Financial Statements should be read in conjunction with the Company’s 2022 Consolidated Financial Statements included in its most recent Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (the “SEC”) and any subsequent reports filed with the SEC. Business Description Wyndham Hotels’ primary segment is hotel franchising which principally consists of licensing the Company’s lodging brands and providing related services to third-party hotel owners and others. In the first quarter of 2023, the Company changed the composition of its reportable segments to reflect the recent changes in its Hotel Management segment due to the exit from the select-service management business, the sale of its two owned hotels and the exit from substantially all of its U.S. full-service management business in 2022. The remaining hotel management business, which is predominately the full-service international managed business, no longer meets the quantitative thresholds to be considered a reportable segment and as a result, the Company has aggregated, on a prospective basis, such management business within its Hotel Franchising segment.

New Accounting Pronouncements

New Accounting Pronouncements	6 Months Ended
	Jun. 30, 2023
Accounting Changes and Error Corrections [Abstract]
New Accounting Pronouncements	2. NEW ACCOUNTING PRONOUNCEMENTS There were no recently issued accounting pronouncements applicable to the Company during the six months ended June 30, 2023.

Revenue Recognition

Revenue Recognition	6 Months Ended
	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenue Recognition	3. REVENUE RECOGNITION Deferred Revenues Deferred revenues, or contract liabilities, generally represent payments or consideration received in advance for goods or services that the Company has not yet provided to the customer. Deferred revenues as of June 30, 2023 and December 31, 2022 are as follows: June 30, 2023 December 31, 2022 Deferred initial franchise fee revenues $ 144 $ 143 Deferred loyalty program revenues 87 85 Deferred other revenues 34 19 Total $ 265 $ 247 Deferred initial franchise fees represent payments received in advance from prospective franchisees upon the signing of a franchise agreement and are generally recognized to revenue within 13 years. Deferred loyalty revenues represent the portion of loyalty program fees charged to franchisees, net of redemption costs, that have been deferred and will be recognized over time based upon loyalty point redemption patterns. Performance Obligations A performance obligation is a promise in a contract to transfer a distinct good or service to a customer. The consideration received from a customer is allocated to each distinct performance obligation and recognized as revenue when, or as, each performance obligation is satisfied. The following table summarizes the Company’s remaining performance obligations for the twelve-month periods set forth below: 7/1/2023 - 6/30/2024 7/1/2024 - 6/30/2025 7/1/2025 - 6/30/2026 Thereafter Total Initial franchise fee revenues $ 17 $ 8 $ 7 $ 112 $ 144 Loyalty program revenues 54 22 9 2 87 Other revenues 28 1 1 4 34 Total $ 99 $ 31 $ 17 $ 118 $ 265 Disaggregation of Net Revenues In the first quarter of 2023, the Company changed the composition of its reportable segments to reflect the recent changes in its Hotel Management segment due to the exit from the select-service management business, the sale of its two owned hotels and the exit from substantially all of its U.S. full-service management business in 2022. The remaining hotel management business, which is predominately the full-service international managed business, no longer meets the quantitative thresholds to be considered a reportable segment and as a result, the Company has aggregated, on a prospective basis, such management business within its Hotel Franchising segment. The table below presents a disaggregation of the Company’s net revenues from contracts with customers by major services and products for each of the Company’s segments: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Hotel Franchising (a) Royalties and franchise fees $ 142 $ 131 $ 263 $ 232 Marketing, reservation and loyalty 145 145 265 257 Management fees 5 — 8 — License and other fees 29 27 53 46 Cost reimbursements 4 — 9 — Other 37 32 76 71 Total Hotel Franchising 362 335 674 606 Hotel Management Royalties and franchise fees n/a 2 n/a 10 Owned hotel revenues n/a 13 n/a 42 Management fees n/a 3 n/a 9 Cost reimbursements n/a 32 n/a 88 Other n/a 1 n/a 2 Total Hotel Management n/a 51 n/a 151 Net revenues $ 362 $ 386 $ 674 $ 757 ______________________ (a) For 2023, the Hotel Franchising segment includes the former Hotel Management segment, which is primarily comprised of the Company's remaining international full-service managed business. Capitalized Contract Costs

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Earnings Per Share	4. EARNINGS PER SHARE The computation of basic and diluted earnings per share (“EPS”) is based on net income divided by the basic weighted average number of common shares and diluted weighted average number of common shares, respectively. The following table sets forth the computation of basic and diluted EPS (in millions, except per share data): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Net income $ 70 $ 92 $ 137 $ 198 Basic weighted average shares outstanding 85.3 91.6 85.9 92.0 Stock options and restricted stock units (“RSUs”) (a) 0.4 0.5 0.5 0.7 Diluted weighted average shares outstanding 85.7 92.1 86.4 92.7 Earnings per share: Basic $ 0.82 $ 1.00 $ 1.59 $ 2.15 Diluted 0.82 1.00 1.59 2.13 Dividends: Cash dividends declared per share $ 0.35 $ 0.32 $ 0.70 $ 0.64 Aggregate dividends paid to stockholders $ 30 $ 29 $ 61 $ 59 ______________________ (a) Diluted shares outstanding excludes shares related to stock options of 0.2 million for both the three and six months ended June 30, 2023 and 0.4 million for both the three and six months ended June 30, 2022. Diluted shares outstanding excludes shares related to RSUs of 0.4 million and 0.5 million for the three and six months ended June 30, 2023, respectively, and 0.3 million and 0.2 million for the three and six months ended June 30, 2022, respectively. Such shares are excluded as their effect would have been anti-dilutive under the treasury stock method. Stock Repurchase Program The following table summarizes stock repurchase activity under the current stock repurchase program (in millions, except per share data): Shares Cost Average Price Per Share As of December 31, 2022 15.2 $ 964 $ 63.32 For the six months ended June 30, 2023 2.4 165 69.20 As of June 30, 2023 17.6 $ 1,129 $ 64.12

Accounts Receivable

Accounts Receivable	6 Months Ended
	Jun. 30, 2023
Credit Loss [Abstract]
Accounts Receivable	5. ACCOUNTS RECEIVABLE Allowance for Doubtful Accounts The following table sets forth the activity in the Company’s allowance for doubtful accounts on trade accounts receivable for the six months ended: 2023 2022 Balance as of January 1, $ 64 $ 81 Recovery of doubtful accounts — (1) Bad debt write-offs (2) (4) Balance as of June 30, $ 62 $ 76

Intangible Assets

Intangible Assets	6 Months Ended
	Jun. 30, 2023
Long-Lived Assets [Abstract]
Intangible Assets	6. INTANGIBLE ASSETS Intangible assets consisted of the following: June 30, 2023 December 31, 2022 Gross Gross Goodwill $ 1,525 $ 1,525 June 30, 2023 December 31, 2022 Gross Accumulated Net Gross Accumulated Net Unamortized intangible assets: Trademarks $ 1,232 $ 1,231 Amortized intangible assets: Franchise agreements $ 913 $ 554 $ 359 $ 913 $ 541 $ 372 Management agreements 2 1 1 15 14 1 Trademarks 1 1 — 1 — 1 Other 1 — 1 1 — 1 $ 917 $ 556 $ 361 $ 930 $ 555 $ 375 In March 2022, the Company completed the exit of its select-service hotel management business and received an $84 million termination fee, which under the terms of the agreement with CorePoint Lodging effectively resulted in the sale of the rights to the management contracts that were acquired as part of the La Quinta Holdings purchase in 2018. The termination fee proceeds were completely offset by the write-off of the remaining balance of the related hotel management contract intangible asset and thus resulted in a full recovery of such asset. The proceeds were reported in proceeds from asset sales, net on the Condensed Consolidated Statement of Cash Flows. The franchise agreements for these hotels remained in place at their stated fee structure.

Franchising, Marketing and Rese

Franchising, Marketing and Reservation Activities	6 Months Ended
	Jun. 30, 2023
Franchisors [Abstract]
Franchising and Marketing and Reservation Activities	7. FRANCHISING, MARKETING AND RESERVATION ACTIVITIES Royalties and franchise fee revenues on the Condensed Consolidated Statements of Income include initial franchise fees of $4 million and $3 million for the three months ended June 30, 2023 and 2022, respectively, and $8 million and $7 million for the six months ended June 30, 2023 and 2022, respectively. In accordance with its franchise agreements, the Company is generally contractually obligated to expend the marketing and reservation fees it collects from franchisees for the operation of an international, centralized, brand-specific reservation system and for marketing purposes such as advertising, promotional and co-marketing programs, and training for the respective franchisees. Development Advance Notes The Company may, at its discretion, provide development advance notes to certain franchisees/hotel owners in order to assist them in converting to one of its’ brands, in building a new hotel to be flagged under one of its’ brands or in assisting in other franchisee expansion efforts. Provided the franchisee/hotel owner is in compliance with the terms of the franchise agreement, all or a portion of the development advance notes may be forgiven by the Company over the period of the franchise agreement. Otherwise, the related principal is due and payable to the Company. In certain instances, the Company may earn interest on unpaid franchisee development advance notes. The Company’s Condensed Consolidated Financial Statements include the following with respect to development advances: Condensed Consolidated Balance Sheets: June 30, December 31, 2022 Other non-current assets $ 168 $ 144 Condensed Consolidated Statements of Income: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Forgiveness of notes (a) $ 4 $ 3 $ 7 $ 6 Bad debt expense related to notes 1 — 1 1 ______________________ (a) Amounts are recorded as a reduction of both royalties and franchise fees and marketing, reservation and loyalty revenues on the Condensed Consolidated Statements of Income. Condensed Consolidated Statements of Cash Flows: Six Months Ended June 30, 2023 2022 Payments of development advance notes $ (32) $ (14) Proceeds from repayment of development advance notes 1 1 Payments of development advance notes, net $ (31) $ (13)

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	8. INCOME TAXES The Company files income tax returns in the U.S. federal and state jurisdictions, as well as in foreign jurisdictions. With certain exceptions, the Company is no longer subject to federal income tax examinations for years prior to 2019. The Company is no longer subject to state and local, or foreign, income tax examinations for years prior to 2015. The Company made cash income tax payments, net of refunds, of $36 million and $45 million for the six months ended June 30, 2023 and 2022, respectively. The Company’s effective tax rates were 27.1% and 25.2% during the three months ended June 30, 2023 and 2022, respectively. During 2023, the effective tax rate was higher as a result of the remeasurement of net deferred tax liabilities due to changes in certain state tax rates and the mix of earnings and losses between the U.S. and foreign jurisdictions in which the Company operates that have different tax rates from the U.S. statutory rate.

Long-Term Debt and Borrowing Ar

Long-Term Debt and Borrowing Arrangements	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Long-Term Debt and Borrowing Arrangements	9. LONG-TERM DEBT AND BORROWING ARRANGEMENTS The Company’s indebtedness consisted of: June 30, 2023 December 31, 2022 Long-term debt: (a) Amount Weighted Average Rate (b) Amount Weighted Average Rate (b) $750 million revolving credit facility (due April 2027) $ — $ — $400 million term loan A (due April 2027) 394 6.51% 399 5.92% $1.6 billion term loan B (due May 2025) — 3.71% 1,139 3.70% $1.1 billion term loan B (due May 2030) 1,127 3.98% — 4.375% senior unsecured notes (due August 2028) 495 4.38% 494 4.38% Finance leases 42 4.50% 45 4.50% Total long-term debt 2,058 2,077 Less: Current portion of long-term debt 37 20 Long-term debt $ 2,021 $ 2,057 ______________________ (a) The carrying amount of the term loans and senior unsecured notes are net of deferred debt issuance costs of $17 million and $11 million as of June 30, 2023 and December 31, 2022, respectively. The carrying amount of the term loan B is net of unamortized discounts of $6 million as of June 30, 2023. (b) Weighted average interest rates are based on the stated interest rate for the year to date periods and include the effects from hedging. Maturities and Capacity The Company’s outstanding debt as of June 30, 2023 matures as follows: Long-Term Debt Within 1 year $ 37 Between 1 and 2 years 40 Between 2 and 3 years 48 Between 3 and 4 years 339 Between 4 and 5 years 19 Thereafter 1,575 Total $ 2,058 As of June 30, 2023, the available capacity under the Company’s revolving credit facility was as follows: Revolving Credit Facility Total capacity $ 750 Less: Letters of credit 9 Available capacity $ 741 Fourth Amendment to the Credit Agreement On May 25, 2023, the Company entered into a Fourth Amendment to the Credit Agreement dated May 30, 2018 (the “Amendment”), which, prior to giving effect to the Amendment, provided for senior secured credit facilities in an aggregate principal amount of $2.35 billion, consisting of (i) a term loan B facility in an aggregate principal amount of $1.6 billion maturing in May 2025 and (ii) a revolving credit facility in an aggregate principal amount of $750 million maturing in April 2027. The Amendment provides for a new senior secured term loan B facility (the “New Term Loan B”) in an aggregate principal amount of $1.14 billion maturing in May 2030, the proceeds of which were used to repay the existing term loan B facility. The interest rate per annum applicable to the New Term Loan B Facility is equal to, at our option (a) Base Rate (as defined in the Credit Agreement), plus an applicable rate of 1.25% or (b) Term SOFR, inclusive of the Secured Overnight Financing Rate (“SOFR”) Adjustment (defined as 0.10% per annum in the Credit Agreement), plus an applicable rate of 2.25%. The Term SOFR with respect to the New Term Loan B is subject to a “floor” of 0.00%. The New Term Loan B will be subject to the same prepayment provisions and covenants applicable to the existing term loan B facility, subject to customary exceptions and limitations, and will be subject to equal quarterly amortization of principal of 0.25% of the initial principal amount, starting in the third quarter of 2023, the first full fiscal quarter after the closing date. Deferred Debt Issuance Costs The Company classifies deferred debt issuance costs related to its revolving credit facility within other non-current assets on the Condensed Consolidated Balance Sheets. Such deferred debt issuance costs were $3 million and $4 million as of June 30, 2023 and December 31, 2022, respectively. Cash Flow Hedge The Company has pay-fixed/receive-variable interest rate swaps which hedges the interest rate exposure on $1.1 billion, or more than 97% of the outstanding amount of its term loan B as of June 30, 2023. The interest rate swaps consist of a $600 million swap that expires in the second quarter of 2024 and has a weighted average fixed rate of 2.57% (plus applicable spreads) and a $500 million swap that expires in the fourth quarter of 2024 and has a weighted average fixed rate of 0.91% (plus applicable spreads). As a result of the Amendment, as well as the discontinuance of LIBOR as a benchmark interest rate, during the second quarter of 2023 the Company amended its interest rate swaps to align with the change in the benchmark interest rate of the underlying debt. As such, the variable rates of such swap agreements are based on one-month SOFR. The aggregate fair value of these interest rate swaps was an asset of $47 million and $53 million as of June 30, 2023 and December 31, 2022, respectively, which was included within other non-current assets on the Condensed Consolidated Balance Sheets, respectively. The effect of interest rate swaps on interest expense, net on the Condensed Consolidated Statements of Income was $9 million of income and $3 million of expense for the three months ended June 30, 2023 and 2022, respectively, and $16 million of income and $8 million of expense for the six months ended June 30, 2023 and 2022, respectively. There was no hedging ineffectiveness recognized in the six months ended June 30, 2023 or 2022. The Company expects to reclassify $39 million of gains from accumulated other comprehensive income (“AOCI”) to interest expense during the next 12 months. Interest Expense, Net The Company incurred net interest expense of $24 million and $20 million for the three months ended June 30, 2023 and 2022, respectively, and $46 million and $39 million for the six months ended June 30, 2023 and 2022, respectively. Cash paid related to such interest was $48 million and $38 million for the six months ended June 30, 2023 and 2022, respectively. Early Extinguishment of Debt The Company incurred non-cash early extinguishment of debt costs of $3 million and $2 million during the three and six months ended June 30, 2023 and 2022, respectively. The 2023 amount relates to the refinancing of the Company's term loan B during the second quarter of 2023. The 2022 amount related to the credit agreement amendment and $400 million partial pay down of its term loan B.

Fair Value

Fair Value	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value	10. FAIR VALUE The Company measures its financial assets and liabilities at fair value on a recurring basis and utilizes the fair value hierarchy to determine such fair values. Financial assets and liabilities carried at fair value are classified and disclosed in one of the following three categories: Level 1: Quoted prices for identical instruments in active markets. Level 2: Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations whose inputs are observable or whose significant value driver is observable. Level 3: Unobservable inputs used when little or no market data is available. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the level in the fair value hierarchy within which the fair value measurement falls has been determined based on the lowest level input (closest to Level 3) that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the asset or liability. The fair value of financial instruments is generally determined by reference to market values resulting from trading on a national securities exchange or in an over-the-counter market. In cases where quoted market prices are not available, fair value is based on estimates using present value or other valuation techniques, as appropriate. The carrying amounts of cash and cash equivalents, trade receivables, accounts payable and accrued expenses and other current liabilities approximate fair value due to the short-term maturities of these assets and liabilities. The carrying amounts and estimated fair values of all other financial instruments are as follows: June 30, 2023 Carrying Amount Estimated Fair Value Debt $ 2,058 $ 2,031 The Company estimates the fair value of its debt using Level 2 inputs based on indicative bids from investment banks or quoted market prices with the exception of finance leases, which are estimated at carrying value. Financial Instruments Changes in interest rates and foreign exchange rates expose the Company to market risk. The Company uses cash flow hedges as part of its overall strategy to manage its exposure to market risks associated with fluctuations in interest rates and foreign currency exchange rates. As a matter of policy, the Company only enters into transactions that it believes will be highly effective at offsetting the underlying risk, and it does not use derivatives for trading or speculative purposes. The Company estimates the fair value of its derivatives using Level 2 inputs. Interest Rate Risk A portion of debt used to finance the Company’s operations is exposed to interest rate fluctuations. The Company uses various hedging strategies and derivative financial instruments to create a desired mix of fixed and floating rate assets and liabilities. Derivative instruments currently used in these hedging strategies include interest rate swaps. The derivatives used to manage the risk associated with the Company’s floating rate debt are derivatives designated as cash flow hedges. See Note 9 - Long-Term Debt and Borrowing Arrangements for the impact of such cash flow hedges. Foreign Currency Risk The Company has foreign currency rate exposure to exchange rate fluctuations worldwide, particularly with respect to the Canadian Dollar, Chinese Yuan, Euro, Brazilian Real, British Pound and Argentine Peso. The Company uses foreign currency forward contracts at various times to manage and reduce the foreign currency exchange rate risk associated with its foreign currency denominated receivables and payables, forecasted royalties and forecasted earnings and cash flows of foreign subsidiaries and other transactions. The Company recognized $2 million of losses and $1 million of gains from freestanding foreign currency exchange contracts during the three months ended June 30, 2023 and 2022, respectively. The Company recognized $3 million of losses and $2 million of gains from freestanding foreign currency exchange contracts during the six months ended June 30, 2023 and 2022, respectively. Such gains and losses are included in operating expenses in the Condensed Consolidated Statements of Income. The Company accounts for certain countries as a highly inflationary economy, with its exposure primarily related to Argentina. Foreign currency exchange losses related to Argentina were $1 million during both the three months ended June 30, 2023 and 2022, respectively. Foreign currency exchange losses related to Argentina were $3 million and $2 million during the six months ended June 30, 2023 and 2022, respectively. Such losses are included in operating expenses in the Condensed Consolidated Statements of Income. Credit Risk and Exposure The Company is exposed to counterparty credit risk in the event of nonperformance by counterparties to various agreements and sales transactions. The Company manages such risk by evaluating the financial position and creditworthiness of such counterparties and often by requiring collateral in instances in which financing is provided. The Company mitigates counterparty credit risk associated with its derivative contracts by monitoring the amounts at risk with each counterparty to such contracts, periodically evaluating counterparty creditworthiness and financial position, and where possible, dispersing its risk among multiple counterparties.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	11. COMMITMENTS AND CONTINGENCIES Litigation The Company is involved, at times, in claims, legal and regulatory proceedings and governmental inquiries arising in the ordinary course of its business, including but not limited to: breach of contract, fraud and bad faith claims with franchisees in connection with franchise agreements and with owners in connection with management contracts, as well as negligence, breach of contract, fraud, employment, consumer protection and other statutory claims asserted in connection with alleged acts or occurrences at owned, franchised or managed properties or in relation to guest reservations and bookings. The Company may also at times be involved in claims, legal and regulatory proceedings and governmental inquiries relating to bankruptcy proceedings involving efforts to collect receivables from a debtor in bankruptcy, employment matters, claims of infringement upon third parties’ intellectual property rights, claims relating to information security, privacy and consumer protection, fiduciary duty/trust claims, tax claims, environmental claims and landlord/tenant disputes. Along with many of its competitors, the Company and/or certain of its subsidiaries have been named as defendants in litigation matters filed in state and federal courts, alleging statutory and common law claims related to purported incidents of sex trafficking at certain franchised and managed hotel facilities. Many of these matters are in the pleading or discovery stages at this time. In certain matters, discovery has closed and the parties are engaged in dispositive motion practice. As of June 30, 2023, the Company is aware of approximately 35 pending matters filed naming the Company and/or subsidiaries. Based upon the status of these matters, the Company has not made a determination as to the likelihood of any probable loss of any one of these matters and is unable to estimate a range of losses at this time. The Company records an accrual for legal contingencies when it determines, after consultation with outside counsel, that it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. In making such determinations, the Company evaluates, among other things, the degree of probability of an unfavorable outcome, and when it is probable that a liability has been incurred, its ability to make a reasonable estimate of loss. The Company reviews these accruals each reporting period and makes revisions based on changes in facts and circumstances, including changes to its strategy in dealing with these matters. The Company believes that it has adequately accrued for such matters with reserves of $5 million and $8 million as of June 30, 2023 and December 31, 2022, respectively. The Company also had receivables of $3 million and $6 million as of June 30, 2023 and December 31, 2022, respectively, for certain matters which are covered by insurance and were included in other current assets on its Condensed Consolidated Balance Sheets. Litigation is inherently unpredictable and, although the Company believes that its accruals are adequate and/or that it has valid defenses in these matters, unfavorable results could occur. As such, an adverse outcome from such proceedings for which claims are awarded in excess of the amounts accrued, if any, could be material to the Company with respect to earnings and/or cash flows in any given reporting period. As of June 30, 2023, the potential exposure resulting from adverse outcomes of such legal proceedings could, in the aggregate, range up to approximately $7 million in excess of recorded accruals. However, the Company does not believe that the impact of such litigation will result in a material liability to the Company in relation to its combined financial position or liquidity. Guarantees Separation-related guarantees The Company assumed one-third of certain contingent and other corporate liabilities of former Parent incurred prior to the spin-off, including liabilities of former Parent related to, arising out of or resulting from certain terminated or divested businesses, certain general corporate matters of former Parent and any actions with respect to the separation plan or the distribution made or brought by any third party.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	12. STOCK-BASED COMPENSATION The Company has a stock-based compensation plan available to grant non-qualified stock options, incentive stock options, stock-settled appreciation rights (“SSARs”), RSUs, performance-vesting restricted stock units (“PSUs”) and/or other stock-based awards to key employees and non-employee directors. Under the Wyndham Hotels & Resorts, Inc. 2018 Equity and Incentive Plan (“Stock Plan”), which became effective on May 14, 2018, a maximum of 10.0 million shares of common stock may be awarded. As of June 30, 2023, 4.8 million shares remained available. During 2023, the Company granted incentive equity awards totaling $28 million to key employees and senior officers in the form of RSUs. The RSUs generally vest ratably over a period of four years based on continuous service. Additionally, the Company approved incentive equity awards to key employees and senior officers in the form of PSUs with a maximum grant value of $19 million. The PSUs generally cliff vest on the third anniversary of the grant date based on continuous service with the number of shares earned (0% to 200% of the target award) dependent upon the extent the Company achieves certain performance metrics. Incentive Equity Awards Granted by the Company The activity related to the Company’s incentive equity awards for the six months ended June 30, 2023 consisted of the following: RSUs PSUs Number of Weighted Number Weighted Balance as of December 31, 2022 1.0 $ 67.90 0.3 $ 69.82 Granted (a) 0.4 77.18 0.3 (b) 77.45 Vested (0.4) 63.56 — — Canceled — — (0.1) 53.40 Balance as of June 30, 2023 1.0 (c) $ 72.53 0.5 (d) $ 76.56 ______________________ (a) Represents awards granted by the Company primarily in March 2023. (b) Represents awards granted by the Company at the maximum achievement level of 200% of target payout. Actual shares that may be issued can range from 0% to 200% of target. (c) RSUs outstanding as of June 30, 2023 have an aggregate unrecognized compensation expense of $60 million, which is expected to be recognized over a weighted average period of 2.8 years. (d) PSUs outstanding as of June 30, 2023 have an aggregate maximum potential unrecognized compensation expense of $28 million, which may be recognized over a weighted average period of 2.3 years based on attainment of targets. There were no stock options granted in 2023 or 2022. The activity related to stock options for the six months ended June 30, 2023 consisted of the following: Number of Options Weighted Average Exercise Price Weighted Average Remaining Contractual Life (Years) Aggregate Intrinsic Value (in millions) Outstanding as of December 31, 2022 1.0 $ 55.90 Granted — — Exercised — — Canceled — — Outstanding as of June 30, 2023 1.0 $ 55.91 3.2 $ 13 Unvested as of June 30, 2023 0.1 (a) $ 56.47 2.9 $ 2 Exercisable as of June 30, 2023 0.9 $ 55.81 3.3 $ 11 ______________________ (a) Unvested options as of June 30, 2023 are expected to vest over time and have an aggregate unrecognized compensation expense of $1 million, which will be recognized over a weighted average period of 1.2 years. Stock-Based Compensation Expense Stock-based compensation expense was $9 million for the three months ended June 30, 2023 and 2022, and $18 million and $17 million for the six months ended June 30, 2023 and 2022, respectively.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Segment Information	13. 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, separation-related items, transaction-related items (acquisition-, disposition-, or debt-related), (gain)/loss on asset sales, 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. In the first quarter of 2023, the Company changed the composition of its reportable segments to reflect the recent changes in its Hotel Management segment due to the exit from the select-service management business, the sale of its two owned hotels and the exit from substantially all of its U.S. full-service management business. The remaining hotel management business, which is predominately the full-service international managed business, no longer meets the quantitative thresholds to be considered a reportable segment and as a result, the Company has aggregated, on a prospective basis, such management business within its Hotel Franchising segment. Three Months Ended June 30, 2023 2022 Net Revenues Adjusted EBITDA Net Revenues Adjusted EBITDA Hotel Franchising (a) $ 362 $ 175 $ 335 $ 185 Hotel Management n/a n/a 51 6 Total Reportable Segments 362 175 386 191 Corporate and Other — (17) — (16) Total Company $ 362 $ 158 $ 386 $ 175 ______________________ (a) For 2023, the Hotel Franchising segment includes the former Hotel Management segment, which is primarily comprised of the Company's remaining international full-service managed business. The table below is a reconciliation of net income to adjusted EBITDA. Three Months Ended June 30, 2023 2022 Net income $ 70 $ 92 Provision for income taxes 26 31 Depreciation and amortization 19 17 Interest expense, net 24 20 Early extinguishment of debt 3 2 Stock-based compensation 9 9 Development advance notes amortization 4 3 Transaction-related 4 — Separation-related (2) (1) Loss on asset sales — 1 Foreign currency impact of highly inflationary countries 1 1 Adjusted EBITDA $ 158 $ 175 Six Months Ended June 30, 2023 2022 Net Revenues Adjusted EBITDA Net Revenues Adjusted EBITDA Hotel Franchising (a) $ 674 339 $ 606 $ 340 Hotel Management n/a n/a 151 26 Total Reportable Segments 674 339 757 366 Corporate and Other — (34) — (32) Total Company $ 674 305 $ 757 $ 334 ______________________ (a) For 2023, the Hotel Franchising segment includes the former Hotel Management segment, which is primarily comprised of the Company's remaining international full-service managed business. The table below is a reconciliation of net income to adjusted EBITDA. Six Months Ended June 30, 2023 2022 Net income $ 137 $ 198 Provision for income taxes 50 66 Depreciation and amortization 37 40 Interest expense, net 46 39 Early extinguishment of debt 3 2 Stock-based compensation 18 17 Development advance notes amortization 7 6 Transaction-related 4 — Gain on asset sales — (35) Separation-related — (1) Foreign currency impact of highly inflationary countries 3 2 Adjusted EBITDA $ 305 $ 334

Other Expenses and Charges

Other Expenses and Charges	6 Months Ended
	Jun. 30, 2023
Other Expenses [Abstract]
Other Expenses and Charges	14. OTHER EXPENSES AND CHARGES Transaction-Related The Company recognized transaction-related expenses of $4 million during both the three and six months ended June 30, 2023 primarily related to costs associated with the refinancing of the Company's term loan B. Separation-Related During the three months ended June 30, 2023, the Company reversed a $2 million reserve which was offset by $2 million of costs incurred in the first quarter of 2023, both of which were tax-related matters. The Company recognized separation-related income of $1 million for both the three and six months ended June 30, 2022 associated with the reversal of a reserve resulting from the settlement of an outstanding matter. Gain/(Loss) on Asset Sales In March 2022, the Company completed the sale of its Wyndham Grand Bonnet Creek Resort for gross proceeds of $121 million ($118 million, net of transaction costs) and recognized a $35 million gain, net of transaction costs, for the six months ended June 30, 2022, which included a $1 million charge related to post-closing adjustments recorded in the second quarter of 2022. Both amounts were attributable to the Company's hotel management business and was reported within (gain)/loss on asset sales on the Condensed Consolidated Statement of Income. Additionally, the Company entered into a 20 year franchise agreement with the buyer. In May 2022, the Company completed the sale of its Wyndham Grand Rio Mar Resort for gross proceeds of $62 million ($61 million, net of transaction costs). There was no gain or loss on the sale. Additionally, the Company entered into a 20 year franchise agreement with the buyer.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	6 Months Ended
	Jun. 30, 2023
Statement of Stockholders' Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	15. ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS) The components of AOCI are as follows: Net of Tax Foreign Currency Translation Adjustments Cash Flow Hedges Accumulated Other Comprehensive Income/(Loss) Balance as of December 31, 2022 $ (3) $ 41 $ 38 Period change 2 (8) (6) Balance as of March 31, 2023 (1) 33 32 Period change 2 2 4 Balance as of June 30, 2023 $ 1 $ 35 $ 36 Net of Tax Balance as of December 31, 2021 $ 2 $ (17) $ (15) Period change — 31 31 Balance as of March 31, 2022 2 14 16 Period change (2) 9 7 Balance as of June 30, 2022 $ — $ 23 $ 23

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Consolidation	The Condensed Consolidated Financial Statements have been prepared on a stand-alone basis. The Condensed Consolidated Financial Statements include the Company’s assets, liabilities, revenues, expenses and cash flows and all entities in which it has a controlling financial interest.All intercompany balances and transactions have been eliminated in the Condensed Consolidated Financial Statements.
Basis of Accounting	The accompanying Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”).
Use of Estimate	In presenting the Condensed Consolidated Financial Statements, management makes estimates and assumptions that affect the amounts reported and related disclosures. Estimates, by their nature, are based on judgment and available information. Accordingly, actual results could differ from those estimates.
Recently Issued and Adopted Accounting Pronouncements	There were no recently issued accounting pronouncements applicable to the Company during the six months ended June 30, 2023.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Schedule of Contract Liabilities	Deferred revenues as of June 30, 2023 and December 31, 2022 are as follows: June 30, 2023 December 31, 2022 Deferred initial franchise fee revenues $ 144 $ 143 Deferred loyalty program revenues 87 85 Deferred other revenues 34 19 Total $ 265 $ 247
Schedule of Performance Obligations	The following table summarizes the Company’s remaining performance obligations for the twelve-month periods set forth below: 7/1/2023 - 6/30/2024 7/1/2024 - 6/30/2025 7/1/2025 - 6/30/2026 Thereafter Total Initial franchise fee revenues $ 17 $ 8 $ 7 $ 112 $ 144 Loyalty program revenues 54 22 9 2 87 Other revenues 28 1 1 4 34 Total $ 99 $ 31 $ 17 $ 118 $ 265
Schedule of Disaggregation of Net Revenues	The table below presents a disaggregation of the Company’s net revenues from contracts with customers by major services and products for each of the Company’s segments: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Hotel Franchising (a) Royalties and franchise fees $ 142 $ 131 $ 263 $ 232 Marketing, reservation and loyalty 145 145 265 257 Management fees 5 — 8 — License and other fees 29 27 53 46 Cost reimbursements 4 — 9 — Other 37 32 76 71 Total Hotel Franchising 362 335 674 606 Hotel Management Royalties and franchise fees n/a 2 n/a 10 Owned hotel revenues n/a 13 n/a 42 Management fees n/a 3 n/a 9 Cost reimbursements n/a 32 n/a 88 Other n/a 1 n/a 2 Total Hotel Management n/a 51 n/a 151 Net revenues $ 362 $ 386 $ 674 $ 757 ______________________ (a) For 2023, the Hotel Franchising segment includes the former Hotel Management segment, which is primarily comprised of the Company's remaining international full-service managed business.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Schedule of Computation of Basic and Diluted EPS	The following table sets forth the computation of basic and diluted EPS (in millions, except per share data): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Net income $ 70 $ 92 $ 137 $ 198 Basic weighted average shares outstanding 85.3 91.6 85.9 92.0 Stock options and restricted stock units (“RSUs”) (a) 0.4 0.5 0.5 0.7 Diluted weighted average shares outstanding 85.7 92.1 86.4 92.7 Earnings per share: Basic $ 0.82 $ 1.00 $ 1.59 $ 2.15 Diluted 0.82 1.00 1.59 2.13 Dividends: Cash dividends declared per share $ 0.35 $ 0.32 $ 0.70 $ 0.64 Aggregate dividends paid to stockholders $ 30 $ 29 $ 61 $ 59 ______________________ (a) Diluted shares outstanding excludes shares related to stock options of 0.2 million for both the three and six months ended June 30, 2023 and 0.4 million for both the three and six months ended June 30, 2022. Diluted shares outstanding excludes shares related to RSUs of 0.4 million and 0.5 million for the three and six months ended June 30, 2023, respectively, and 0.3 million and 0.2 million for the three and six months ended June 30, 2022, respectively. Such shares are excluded as their effect would have been anti-dilutive under the treasury stock method.
Schedule of Stock Repurchase Activity	The following table summarizes stock repurchase activity under the current stock repurchase program (in millions, except per share data): Shares Cost Average Price Per Share As of December 31, 2022 15.2 $ 964 $ 63.32 For the six months ended June 30, 2023 2.4 165 69.20 As of June 30, 2023 17.6 $ 1,129 $ 64.12

Accounts Receivable (Tables)

Accounts Receivable (Tables)	6 Months Ended
	Jun. 30, 2023
Credit Loss [Abstract]
Accounts Receivable, Allowance for Credit Loss	The following table sets forth the activity in the Company’s allowance for doubtful accounts on trade accounts receivable for the six months ended: 2023 2022 Balance as of January 1, $ 64 $ 81 Recovery of doubtful accounts — (1) Bad debt write-offs (2) (4) Balance as of June 30, $ 62 $ 76

Intangible Assets (Tables)

Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2023
Long-Lived Assets [Abstract]
Schedule of Intangible Assets and Goodwill	Intangible assets consisted of the following: June 30, 2023 December 31, 2022 Gross Gross Goodwill $ 1,525 $ 1,525 June 30, 2023 December 31, 2022 Gross Accumulated Net Gross Accumulated Net Unamortized intangible assets: Trademarks $ 1,232 $ 1,231 Amortized intangible assets: Franchise agreements $ 913 $ 554 $ 359 $ 913 $ 541 $ 372 Management agreements 2 1 1 15 14 1 Trademarks 1 1 — 1 — 1 Other 1 — 1 1 — 1 $ 917 $ 556 $ 361 $ 930 $ 555 $ 375

Long-Term Debt and Borrowing _2

Long-Term Debt and Borrowing Arrangements (Tables)	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Schedule of Company's Indebtedness	The Company’s indebtedness consisted of: June 30, 2023 December 31, 2022 Long-term debt: (a) Amount Weighted Average Rate (b) Amount Weighted Average Rate (b) $750 million revolving credit facility (due April 2027) $ — $ — $400 million term loan A (due April 2027) 394 6.51% 399 5.92% $1.6 billion term loan B (due May 2025) — 3.71% 1,139 3.70% $1.1 billion term loan B (due May 2030) 1,127 3.98% — 4.375% senior unsecured notes (due August 2028) 495 4.38% 494 4.38% Finance leases 42 4.50% 45 4.50% Total long-term debt 2,058 2,077 Less: Current portion of long-term debt 37 20 Long-term debt $ 2,021 $ 2,057 ______________________ (a) The carrying amount of the term loans and senior unsecured notes are net of deferred debt issuance costs of $17 million and $11 million as of June 30, 2023 and December 31, 2022, respectively. The carrying amount of the term loan B is net of unamortized discounts of $6 million as of June 30, 2023. (b) Weighted average interest rates are based on the stated interest rate for the year to date periods and include the effects from hedging.
Schedule of Outstanding Debt Maturities	The Company’s outstanding debt as of June 30, 2023 matures as follows: Long-Term Debt Within 1 year $ 37 Between 1 and 2 years 40 Between 2 and 3 years 48 Between 3 and 4 years 339 Between 4 and 5 years 19 Thereafter 1,575 Total $ 2,058
Schedule of Available Capacity Under Borrowing Arrangements	As of June 30, 2023, the available capacity under the Company’s revolving credit facility was as follows: Revolving Credit Facility Total capacity $ 750 Less: Letters of credit 9 Available capacity $ 741

Fair Value (Tables)

Fair Value (Tables)	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Schedule of Carrying Amount and Estimated Fair Value of Financial Instruments	The carrying amounts and estimated fair values of all other financial instruments are as follows: June 30, 2023 Carrying Amount Estimated Fair Value Debt $ 2,058 $ 2,031

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Activity Related to Incentive Equity Awards	The activity related to the Company’s incentive equity awards for the six months ended June 30, 2023 consisted of the following: RSUs PSUs Number of Weighted Number Weighted Balance as of December 31, 2022 1.0 $ 67.90 0.3 $ 69.82 Granted (a) 0.4 77.18 0.3 (b) 77.45 Vested (0.4) 63.56 — — Canceled — — (0.1) 53.40 Balance as of June 30, 2023 1.0 (c) $ 72.53 0.5 (d) $ 76.56 ______________________ (a) Represents awards granted by the Company primarily in March 2023. (b) Represents awards granted by the Company at the maximum achievement level of 200% of target payout. Actual shares that may be issued can range from 0% to 200% of target. (c) RSUs outstanding as of June 30, 2023 have an aggregate unrecognized compensation expense of $60 million, which is expected to be recognized over a weighted average period of 2.8 years. (d) PSUs outstanding as of June 30, 2023 have an aggregate maximum potential unrecognized compensation expense of $28 million, which may be recognized over a weighted average period of 2.3 years based on attainment of targets. There were no stock options granted in 2023 or 2022. The activity related to stock options for the six months ended June 30, 2023 consisted of the following: Number of Options Weighted Average Exercise Price Weighted Average Remaining Contractual Life (Years) Aggregate Intrinsic Value (in millions) Outstanding as of December 31, 2022 1.0 $ 55.90 Granted — — Exercised — — Canceled — — Outstanding as of June 30, 2023 1.0 $ 55.91 3.2 $ 13 Unvested as of June 30, 2023 0.1 (a) $ 56.47 2.9 $ 2 Exercisable as of June 30, 2023 0.9 $ 55.81 3.3 $ 11 ______________________ (a) Unvested options as of June 30, 2023 are expected to vest over time and have an aggregate unrecognized compensation expense of $1 million, which will be recognized over a weighted average period of 1.2 years.

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Summary of Net Revenues and Adjusted EBITDA by Segment	Three Months Ended June 30, 2023 2022 Net Revenues Adjusted EBITDA Net Revenues Adjusted EBITDA Hotel Franchising (a) $ 362 $ 175 $ 335 $ 185 Hotel Management n/a n/a 51 6 Total Reportable Segments 362 175 386 191 Corporate and Other — (17) — (16) Total Company $ 362 $ 158 $ 386 $ 175 ______________________ (a) For 2023, the Hotel Franchising segment includes the former Hotel Management segment, which is primarily comprised of the Company's remaining international full-service managed business.
Reconciliation of Net Income to Adjusted EBITDA	The table below is a reconciliation of net income to adjusted EBITDA. Three Months Ended June 30, 2023 2022 Net income $ 70 $ 92 Provision for income taxes 26 31 Depreciation and amortization 19 17 Interest expense, net 24 20 Early extinguishment of debt 3 2 Stock-based compensation 9 9 Development advance notes amortization 4 3 Transaction-related 4 — Separation-related (2) (1) Loss on asset sales — 1 Foreign currency impact of highly inflationary countries 1 1 Adjusted EBITDA $ 158 $ 175 Six Months Ended June 30, 2023 2022 Net Revenues Adjusted EBITDA Net Revenues Adjusted EBITDA Hotel Franchising (a) $ 674 339 $ 606 $ 340 Hotel Management n/a n/a 151 26 Total Reportable Segments 674 339 757 366 Corporate and Other — (34) — (32) Total Company $ 674 305 $ 757 $ 334 ______________________ (a) For 2023, the Hotel Franchising segment includes the former Hotel Management segment, which is primarily comprised of the Company's remaining international full-service managed business. The table below is a reconciliation of net income to adjusted EBITDA. Six Months Ended June 30, 2023 2022 Net income $ 137 $ 198 Provision for income taxes 50 66 Depreciation and amortization 37 40 Interest expense, net 46 39 Early extinguishment of debt 3 2 Stock-based compensation 18 17 Development advance notes amortization 7 6 Transaction-related 4 — Gain on asset sales — (35) Separation-related — (1) Foreign currency impact of highly inflationary countries 3 2 Adjusted EBITDA $ 305 $ 334

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Jun. 30, 2023
Statement of Stockholders' Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The components of AOCI are as follows: Net of Tax Foreign Currency Translation Adjustments Cash Flow Hedges Accumulated Other Comprehensive Income/(Loss) Balance as of December 31, 2022 $ (3) $ 41 $ 38 Period change 2 (8) (6) Balance as of March 31, 2023 (1) 33 32 Period change 2 2 4 Balance as of June 30, 2023 $ 1 $ 35 $ 36 Net of Tax Balance as of December 31, 2021 $ 2 $ (17) $ (15) Period change — 31 31 Balance as of March 31, 2022 2 14 16 Period change (2) 9 7 Balance as of June 30, 2022 $ — $ 23 $ 23

Basis of Presentation (Details)

Basis of Presentation (Details)	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of countries operating in (approximately)	95

Revenue Recognition (Narrative)

Revenue Recognition (Narrative) (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Franchise agreement, revenue recognition period (within)	13 years
Capitalized Contract Cost [Line Items]
Capitalized contract cost, net	$ 35	$ 34
Other Current Assets
Capitalized Contract Cost [Line Items]
Capitalized contract cost, net	4	4
Other Noncurrent Assets
Capitalized Contract Cost [Line Items]
Capitalized contract cost, net	$ 31	$ 30

Revenue Recognition (Contract L

Revenue Recognition (Contract Liabilities) (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Contract liabilities	$ 265	$ 247
Deferred initial franchise fee revenues
Disaggregation of Revenue [Line Items]
Contract liabilities	144	143
Deferred loyalty program revenues
Disaggregation of Revenue [Line Items]
Contract liabilities	87	85
Deferred other revenues
Disaggregation of Revenue [Line Items]
Contract liabilities	$ 34	$ 19

Revenue Recognition (Performanc

Revenue Recognition (Performance Obligations) (Details) $ in Millions	Jun. 30, 2023 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 99
Remaining performance obligation, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-07-01 | Initial franchise fee revenues
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 17
Remaining performance obligation, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-07-01 | Loyalty program revenues
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 54
Remaining performance obligation, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-07-01 | Other revenues
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 28
Remaining performance obligation, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 31
Remaining performance obligation, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01 | Initial franchise fee revenues
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 8
Remaining performance obligation, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01 | Loyalty program revenues
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 22
Remaining performance obligation, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01 | Other revenues
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 1
Remaining performance obligation, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 17
Remaining performance obligation, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-07-01 | Initial franchise fee revenues
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 7
Remaining performance obligation, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-07-01 | Loyalty program revenues
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 9
Remaining performance obligation, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-07-01 | Other revenues
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 1
Remaining performance obligation, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 118
Remaining performance obligation, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-07-01 | Initial franchise fee revenues
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 112
Remaining performance obligation, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-07-01 | Loyalty program revenues
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 2
Remaining performance obligation, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-07-01 | Other revenues
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 4
Remaining performance obligation, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 265
Remaining performance obligation, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-07-01 | Initial franchise fee revenues
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 144
Remaining performance obligation, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-07-01 | Loyalty program revenues
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 87
Remaining performance obligation, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-07-01 | Other revenues
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 34
Remaining performance obligation, period	1 year

Revenue Recognition (Disaggrega

Revenue Recognition (Disaggregation of Net Revenues) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Disaggregation of Revenue [Line Items]
Net Revenues	$ 362	$ 386	$ 674	$ 757
Royalties and franchise fees
Disaggregation of Revenue [Line Items]
Net Revenues	142	133	263	242
Marketing, reservation and loyalty
Disaggregation of Revenue [Line Items]
Net Revenues	145	145	265	257
Cost reimbursements
Disaggregation of Revenue [Line Items]
Net Revenues	4	32	9	88
Other
Disaggregation of Revenue [Line Items]
Net Revenues	37	33	76	73
Reportable Segments
Disaggregation of Revenue [Line Items]
Net Revenues		386		757
Reportable Segments | Hotel Franchising (a)
Disaggregation of Revenue [Line Items]
Net Revenues	362	335	674	606
Reportable Segments | Hotel Franchising (a) | Royalties and franchise fees
Disaggregation of Revenue [Line Items]
Net Revenues	142	131	263	232
Reportable Segments | Hotel Franchising (a) | Marketing, reservation and loyalty
Disaggregation of Revenue [Line Items]
Net Revenues	145	145	265	257
Reportable Segments | Hotel Franchising (a) | License and other fees
Disaggregation of Revenue [Line Items]
Net Revenues	29	27	53	46
Reportable Segments | Hotel Franchising (a) | Management fees
Disaggregation of Revenue [Line Items]
Net Revenues	5	0	8	0
Reportable Segments | Hotel Franchising (a) | Cost reimbursements
Disaggregation of Revenue [Line Items]
Net Revenues	4	0	9	0
Reportable Segments | Hotel Franchising (a) | Other
Disaggregation of Revenue [Line Items]
Net Revenues	$ 37	32	$ 76	71
Reportable Segments | Hotel Management
Disaggregation of Revenue [Line Items]
Net Revenues		51		151
Reportable Segments | Hotel Management | Royalties and franchise fees
Disaggregation of Revenue [Line Items]
Net Revenues		2		10
Reportable Segments | Hotel Management | Owned hotel revenues
Disaggregation of Revenue [Line Items]
Net Revenues		13		42
Reportable Segments | Hotel Management | Management fees
Disaggregation of Revenue [Line Items]
Net Revenues		3		9
Reportable Segments | Hotel Management | Cost reimbursements
Disaggregation of Revenue [Line Items]
Net Revenues		32		88
Reportable Segments | Hotel Management | Other
Disaggregation of Revenue [Line Items]
Net Revenues		$ 1		$ 2

Earnings Per Share (Computation

Earnings Per Share (Computation of Basic and Diluted EPS) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022
Earnings Per Share [Abstract]
Net income	$ 70	$ 67	$ 92	$ 106	$ 137	$ 198
Basic weighted average shares outstanding (in shares)	85.3		91.6		85.9	92
Stock Options and restricted stock units (RSUs) (in shares)	0.4		0.5		0.5	0.7
Diluted weighted average shares outstanding (in shares)	85.7		92.1		86.4	92.7
Earnings per share
Basic (in usd per share)	$ 0.82		$ 1		$ 1.59	$ 2.15
Diluted (in usd per share)	0.82		1		1.59	2.13
Cash dividends declared per share (in usd per share)	$ 0.35		$ 0.32		$ 0.70	$ 0.64
Aggregate dividends paid to stockholders	$ 30		$ 29		$ 61	$ 59
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	0.2		0.4		0.2	0.4
Restricted Stock Units (RSUs) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	0.4		0.3		0.5	0.2

Earnings Per Share (Stock Repur

Earnings Per Share (Stock Repurchase Activity) (Details) $ / shares in Units, shares in Millions, $ in Millions	6 Months Ended
	Jun. 30, 2023 USD ($) $ / shares shares
Shares
Treasury stock, shares, beginning (in shares) | shares	15.2
Treasury stock, acquired (in shares) | shares	2.4
Treasury stock, shares, ending (in shares) | shares	17.6
Cost
Treasury stock, cost, beginning | $	$ 964
Treasury stock, cost, acquired | $	165
Treasury stock, cost, ending | $	$ 1,129
Average Price Per Share
Treasury stock, average price per share, beginning (in usd per share) | $ / shares	$ 63.32
Treasury stock, average price per share, acquired (in usd per share) | $ / shares	69.20
Treasury stock, average price per share, ending (in usd per share) | $ / shares	$ 64.12

Earnings Per Share (Narrative)

Earnings Per Share (Narrative) (Details) $ in Millions	Jun. 30, 2023 USD ($)
Earnings Per Share [Abstract]
Share repurchase, remaining availability	$ 272

Accounts Receivable - Allowance

Accounts Receivable - Allowance for Doubtful Accounts (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance as of January 1,	$ 64	$ 81
Recovery of doubtful accounts	0	(1)
Bad debt write-offs	(2)	(4)
Balance as of June 30,	$ 62	$ 76

Intangible Assets - Narrative (

Intangible Assets - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2022	Jun. 30, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Property and equipment, net		$ 94	$ 99
CorePoint payment for management contract rights	$ 84

Intangible Assets - Schedule of

Intangible Assets - Schedule of Goodwill and Intangible Assets (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Indefinite-lived Intangible Assets [Line Items]
Goodwill, Gross	$ 1,525	$ 1,525
Franchise agreements	917	930
Finite-Lived Intangible Assets, Accumulated Amortization	556	555
Finite-Lived Intangible Assets, Net	361	375
Trademarks
Indefinite-lived Intangible Assets [Line Items]
Trademark	1,232	1,231
Franchise agreements
Indefinite-lived Intangible Assets [Line Items]
Franchise agreements	913	913
Finite-Lived Intangible Assets, Accumulated Amortization	554	541
Finite-Lived Intangible Assets, Net	359	372
Management agreements
Indefinite-lived Intangible Assets [Line Items]
Franchise agreements	2	15
Finite-Lived Intangible Assets, Accumulated Amortization	1	14
Finite-Lived Intangible Assets, Net	1	1
Trademarks
Indefinite-lived Intangible Assets [Line Items]
Franchise agreements	1	1
Finite-Lived Intangible Assets, Accumulated Amortization	1	0
Finite-Lived Intangible Assets, Net	0	1
Other
Indefinite-lived Intangible Assets [Line Items]
Franchise agreements	1	1
Finite-Lived Intangible Assets, Accumulated Amortization	0	0
Finite-Lived Intangible Assets, Net	$ 1	$ 1

Franchising, Marketing and Re_2

Franchising, Marketing and Reservation Activities (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Net Revenues	$ (362)	$ (386)	$ (674)	$ (757)
Bad debt expense related to notes	1	0	1	1
Payments of development advance notes, net			(31)	(13)
Proceeds from Loans			1	1
Payments for Loans			(32)	(14)
Franchisees and hotel owners
Disaggregation of Revenue [Line Items]
Development advance notes	168		168		$ 144
Forgiveness of note receivable
Disaggregation of Revenue [Line Items]
Net Revenues	4	3	7	6
Deferred initial franchise fee revenues
Disaggregation of Revenue [Line Items]
Net Revenues	$ (4)	$ (3)	$ (8)	$ (7)

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income taxes paid, net			$ 36	$ 45
Effective tax rate	2,710%	25.20%	2,670%	2,500%

Long-Term Debt and Borrowing _3

Long-Term Debt and Borrowing Arrangements (Schedule of Company's Indebtedness) (Details) - USD ($)	Jun. 30, 2023	Dec. 31, 2022	Apr. 08, 2022
Debt Instrument [Line Items]
Total long-term debt	$ 2,058,000,000	$ 2,077,000,000
Less: Current portion of long-term debt	37,000,000	20,000,000
Long-term debt	$ 2,021,000,000	$ 2,057,000,000
Finance leases
Debt Instrument [Line Items]
Debt, Weighted Average Interest Rate	4.50%	4.50%
Finance lease liabilities, noncurrent	$ 42,000,000	$ 45,000,000
$750 million revolving credit facility (due May 2023)
Debt Instrument [Line Items]
Debt issuance costs	3,000,000	4,000,000
Line of Credit
Debt Instrument [Line Items]
Debt instrument, face amount		2,350,000,000
Line of Credit | $750 million revolving credit facility (due May 2023)
Debt Instrument [Line Items]
Debt instrument, face amount	750,000,000	750,000,000
Long-term debt	0	0
Long-term Debt | $400 million term loan A (due April 2027)
Debt Instrument [Line Items]
Debt instrument, face amount	400,000,000
Long-term debt	$ 394,000,000	$ 399,000,000	$ 400,000,000
Debt, Weighted Average Interest Rate	6.51%	5.92%
Long-term Debt | $1.6 billion term loan B (due May 2025)
Debt Instrument [Line Items]
Debt instrument, face amount	$ 1,600,000,000
Long-term debt		$ 1,139,000,000
Debt, Weighted Average Interest Rate		3.70%
Long-term Debt | Term Loan due 2030
Debt Instrument [Line Items]
Debt instrument, face amount	1,100,000,000
Long-term debt	$ 1,127,000,000
Debt, Weighted Average Interest Rate	3.98%
Senior Notes | Senior Unsecured Notes due August 2028
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	4.375%
Long-term debt	$ 495,000,000	$ 494,000,000
Debt, Weighted Average Interest Rate	4.38%	4.38%
Term loan and senior unsecured notes
Debt Instrument [Line Items]
Debt issuance costs	$ 17,000,000	$ 11,000,000
Term Loan due 2030
Debt Instrument [Line Items]
Debt Instrument, Unamortized Discount	$ 6,000,000

Long-Term Debt and Borrowing _4

Long-Term Debt and Borrowing Arrangements (Schedule of Outstanding Debt Maturities) (Details) $ in Millions	Jun. 30, 2023 USD ($)
Debt Disclosure [Abstract]
Within 1 year	$ 37
Between 1 and 2 years	40
Between 2 and 3 years	48
Between 3 and 4 years	339
Between 4 and 5 years	19
Thereafter	1,575
Total	$ 2,058

Long-Term Debt and Borrowing _5

Long-Term Debt and Borrowing Arrangements (Schedule of Available Capacity Under Borrowing Arrangements) (Details) - $750 million revolving credit facility (due May 2023) $ in Millions	Jun. 30, 2023 USD ($)
Debt Instrument [Line Items]
Total capacity	$ 750
Less: Letters of credit	9
Available capacity	$ 741

Long-Term Debt and Borrowing _6

Long-Term Debt and Borrowing Arrangements (Narrative) (Details)		3 Months Ended		6 Months Ended
	May 25, 2023 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)	Apr. 08, 2022 USD ($)
Debt Instrument [Line Items]
Gain (loss) on interest rate cash flow hedge ineffectiveness				$ 0
Interest rate cash flow hedge gain (loss) to be reclassified during next 12 months, net		$ 39,000,000		39,000,000
Interest expense, net		24,000,000	$ 20,000,000	46,000,000	$ 39,000,000
Interest paid				48,000,000	38,000,000
Interest Rate Cash Flow Hedge Asset at Fair Value		47,000,000		47,000,000		$ 53,000,000
Early extinguishment of debt		3,000,000	2,000,000	3,000,000	2,000,000
Interest Rate Swap
Debt Instrument [Line Items]
Total notional amount		$ 1,100,000,000		$ 1,100,000,000
Debt instrument, hedged amount, percentage		97%		97%
Interest rate cash flow hedge gain (loss) reclassified to earnings, net		$ 9,000,000	$ (3,000,000)	$ 16,000,000	$ (8,000,000)
Interest Rate Swap 1
Debt Instrument [Line Items]
Total notional amount		$ 600,000,000		$ 600,000,000
Fixed interest rate on interest rate swap		2.57%		2.57%
Interest Rate Swap 2
Debt Instrument [Line Items]
Total notional amount		$ 500,000,000		$ 500,000,000
Fixed interest rate on interest rate swap		0.91%		0.91%
Line of Credit
Debt Instrument [Line Items]
Debt instrument, face amount						2,350,000,000
Senior Unsecured Notes due August 2028 | Senior Notes
Debt Instrument [Line Items]
Long-term debt		$ 495,000,000		$ 495,000,000		494,000,000
$1.6 billion term loan B (due May 2025) | Long-term Debt
Debt Instrument [Line Items]
Long-term debt						1,139,000,000
Debt instrument, face amount		1,600,000,000		1,600,000,000
$400 million term loan A (due April 2027) | Long-term Debt
Debt Instrument [Line Items]
Long-term debt		394,000,000		394,000,000		399,000,000	$ 400,000,000
Debt instrument, face amount		400,000,000		400,000,000
Term Loan due 2030 | Long-term Debt
Debt Instrument [Line Items]
Long-term debt		1,127,000,000		1,127,000,000
Debt instrument, face amount		1,100,000,000		1,100,000,000
$750 million revolving credit facility (due May 2023)
Debt Instrument [Line Items]
Debt issuance costs		3,000,000		3,000,000		4,000,000
Total capacity		750,000,000		750,000,000
$750 million revolving credit facility (due May 2023) | Line of Credit
Debt Instrument [Line Items]
Long-term debt		0		0		0
Debt instrument, face amount		$ 750,000,000		$ 750,000,000		750,000,000
$750 million revolving credit facility (due May 2023) | Term Loan B Facility | Line of Credit
Debt Instrument [Line Items]
Debt instrument, face amount	$ 1,140,000,000					$ 1,600,000,000
Periodic payment rate	0.0025
$750 million revolving credit facility (due May 2023) | Term Loan B Facility | Line of Credit | Base Rate
Debt Instrument [Line Items]
Basis spread	1.25%
$750 million revolving credit facility (due May 2023) | Term Loan B Facility | Line of Credit | SOFR Adjustment
Debt Instrument [Line Items]
Basis spread	0.10%
$750 million revolving credit facility (due May 2023) | Term Loan B Facility | Line of Credit | SOFR
Debt Instrument [Line Items]
Basis spread	2.25%
$750 million revolving credit facility (due May 2023) | Term Loan B Facility | Line of Credit | SOFR | Minimum
Debt Instrument [Line Items]
Basis spread	0%

Fair Value (Details)

Fair Value (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gain (loss) on foreign currency derivatives recorded in earnings	$ 2	$ (1)	$ 3	$ (2)
Translation Adjustment Functional to Reporting Currency, Increase (Decrease), Gross of Tax	1	$ 1	3	$ 2
Carrying Amount
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	2,058		2,058
Estimated Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	$ 2,031		$ 2,031

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) $ in Millions	Jun. 30, 2023 USD ($) lawsuit	Dec. 31, 2022 USD ($)
Loss Contingencies [Line Items]
Number of lawsuits | lawsuit	35
Litigation reserves	$ 5	$ 8
Litigation receivable covered by insurance	3	6
Accrued expenses and other current liabilities	270	$ 264
Maximum
Loss Contingencies [Line Items]
Range of possible loss, portion not accrued (up to)	$ 7

Stock-Based Compensation (Narra

Stock-Based Compensation (Narrative) (Details) - USD ($) shares in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	May 14, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	$ 9,000,000	$ 9,000,000
Restricted Stock Units (RSUs) [Member] | Key employees and senior officers
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Value of awards granted			$ 28,000,000
Performance Shares | Key employees and senior officers
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum value of awards authorized for grant			$ 19,000,000
Performance Shares | Key employees and senior officers | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Target award percentage			0%
Performance Shares | Key employees and senior officers | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Target award percentage			200%
Wyndham Hotels & Resorts, Inc. 2018 Equity and Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of shares approved (in shares)					10
Remaining shares available (in shares)	4.8		4.8
Stock-based compensation	$ 9,000,000	$ 9,000,000	$ 18,000,000	$ 17,000,000

Stock-Based Compensation (Incen

Stock-Based Compensation (Incentive Equity Awards Activity) (Details) $ / shares in Units, shares in Millions, $ in Millions	6 Months Ended
	Jun. 30, 2023 USD ($) $ / shares shares
RSUs
Number of RSUs
Beginning balance (in shares) | shares	1
Granted (in shares) | shares	0.4
Vested/exercised (in shares) | shares	(0.4)
Canceled (in shares) | shares	0
Ending balance (in shares) | shares	1
Weighted Average Grant Price
Beginning balance (in dollars per share) | $ / shares	$ 67.90
Granted (in dollars per share) | $ / shares	77.18
Vested/exercised (in dollars per share) | $ / shares	63.56
Canceled (in dollars per share) | $ / shares	0
Ending balance (in dollars per share) | $ / shares	$ 72.53
Weighted Average Exercise Price
Aggregate unrecognized compensation expense | $	$ 60
Compensation expense not yet recognized, weighted average period	2 years 9 months 18 days
Performance Shares
Number of RSUs
Beginning balance (in shares) | shares	0.3
Granted (in shares) | shares	0.3
Vested/exercised (in shares) | shares	0
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Forfeited in Period | shares	(0.1)
Ending balance (in shares) | shares	0.5
Weighted Average Grant Price
Beginning balance (in dollars per share) | $ / shares	$ 69.82
Granted (in dollars per share) | $ / shares	77.45
Vested/exercised (in dollars per share) | $ / shares	0
Canceled (in dollars per share) | $ / shares	53.40
Ending balance (in dollars per share) | $ / shares	$ 76.56
Weighted Average Exercise Price
Aggregate unrecognized compensation expense | $	$ 28
Compensation expense not yet recognized, weighted average period	2 years 3 months 18 days
Performance Shares | Maximum | Key employees and senior officers
Weighted Average Exercise Price
Target award percentage	200%
Performance Shares | Minimum | Key employees and senior officers
Weighted Average Exercise Price
Target award percentage	0%
Options
Number of Options
Beginning balance (in shares) | shares	1
Granted (in shares) | shares	0
Exercised (in shares) | shares	0
Forfeited (in shares) | shares	0
Ending balance (in shares) | shares	1
Weighted Average Exercise Price
Beginning balance (in dollars per share) | $ / shares	$ 55.90
Granted (in dollars per share) | $ / shares	0
Exercised (in dollars per share) | $ / shares	0
Canceled (in dollars per share) | $ / shares	0
Ending balance (in dollars per share) | $ / shares	$ 55.91
Unvested options outstanding | shares	0.1
Options exercisable | shares	0.9
Unvested options weighted average exercise price (in dollars per share) | $ / shares	$ 56.47
Exercisable options weighted average exercise price (in dollars per share) | $ / shares	$ 55.81
Weighted average remaining contractual term, outstanding	3 years 2 months 12 days
Weighted average remaining contractual term, unvested	2 years 10 months 24 days
Weighted average remaining contractual term, exercisable	3 years 3 months 18 days
Aggregate Intrinsic Value, Outstanding | $	$ 13
Aggregate Intrinsic Value, Unvested | $	2
Aggregate Intrinsic Value, Exercisable | $	11
Aggregate unrecognized compensation expense | $	$ 1
Compensation expense not yet recognized, weighted average period	1 year 2 months 12 days

Segment Information (Summary of

Segment Information (Summary of Net Revenues and Adjusted EBITDA by Segment) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting Information [Line Items]
Net Revenues	$ 362	$ 386	$ 674	$ 757
Adjusted EBITDA	158	175	305	334
Reportable Segments
Segment Reporting Information [Line Items]
Net Revenues		386		757
Adjusted EBITDA		191		366
Reportable Segments | Hotel Franchising (a)
Segment Reporting Information [Line Items]
Net Revenues	362	335	674	606
Adjusted EBITDA	175	185	339	340
Reportable Segments | Hotel Management
Segment Reporting Information [Line Items]
Net Revenues		51		151
Adjusted EBITDA		6		26
Corporate, Non-Segment
Segment Reporting Information [Line Items]
Net Revenues	0	0	0	0
Adjusted EBITDA	$ (17)	$ (16)	$ (34)	$ (32)

Segment Information (Reconcilia

Segment Information (Reconciliation of Net Income to Adjusted EBITDA) (Details) - USD ($) $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting Information [Line Items]
Net income	$ 70	$ 67	$ 92	$ 106	$ 137	$ 198
Provision for income taxes	26		31		50	66
Depreciation and amortization	19		17		37	40
Interest expense, net	24		20		46	39
Stock-based compensation	9		9
Translation Adjustment Functional to Reporting Currency, Increase (Decrease), Gross of Tax	1		1		3	2
Net Revenues	(362)		(386)		(674)	(757)
Transaction-related, net	4		0		4	0
Adjusted EBITDA	158		175		305	334
(Gain)/loss on asset sales	0		1		0	(35)
Early extinguishment of debt	3		2		3	2
Separation-related	(2)	$ 2	(1)		0	(1)
Forgiveness of note receivable
Segment Reporting Information [Line Items]
Net Revenues	4		3		7	6
Wyndham Hotels & Resorts, Inc. 2018 Equity and Incentive Plan
Segment Reporting Information [Line Items]
Stock-based compensation	$ 9		$ 9		18	17
Wyndham Hotels & Resorts, Inc. 2018 Equity and Incentive Plan | Nonseparation related
Segment Reporting Information [Line Items]
Stock-based compensation					$ 18	$ 17

Other Expenses and Charges - Na

Other Expenses and Charges - Narrative (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended			6 Months Ended
	May 31, 2022	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Restructuring Cost and Reserve [Line Items]
Separation-related		$ 2	$ (2)	$ 1	$ 0	$ 1
Proceeds from asset sales, net					0	263
(Gain)/loss on asset sales		$ 0		$ 1	$ 0	(35)
Franchise agreement, term	20 years				20 years
Wyndham Grand Bonnet Creek Resort Sale
Restructuring Cost and Reserve [Line Items]
Proceeds from asset sales, net						118
Proceeds from Sale of Productive Assets, Gross [Line Items]						$ 121
Wyndham Grand Rio Mar Resort Sale 22
Restructuring Cost and Reserve [Line Items]
Proceeds from asset sales, net	$ 61
Proceeds from Sale of Productive Assets, Gross [Line Items]	$ 62

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance as of beginning of period, value	$ 936	$ 962	$ 1,159	$ 1,089	$ 962	$ 1,089
Balance as of beginning of period	32	38	16	(15)	38	(15)
Period change	2	2	(2)	0	3	(2)
Period change	2	(8)	9	31	(5)	40
Period change	4	(6)	7	31	(2)	38
Balance as of end of period	36	32	23	16	36	23
Balance as of end of period, value	880	936	1,096	1,159	880	1,096
Foreign Currency Translation Adjustments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance as of beginning of period, value	(1)	(3)	2	2	(3)	2
Balance as of end of period, value	1	(1)	0	2	1	0
Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance as of beginning of period, value	33	41	14	(17)	41	(17)
Balance as of end of period, value	$ 35	$ 33	$ 23	$ 14	$ 35	$ 23