“2025 Gains (losses) and other income, net $ 3 $ (2) $ 5 250 % Interest expense (214) (192) (22) (11) % Interest income 10 9 1 11 % Equity in (losses) earnings (5) 1 (6) (600) % Interest expense increased in the 2026 first quarter primarily due to higher debt balances driven by Senior Notes issuances, net of maturities ($28 million).”
“In the U.S. & Canada, RevPAR increased 0.7 percent in 2025, reflecting strong demand at our luxury hotels, partially offset by softer demand at our select service hotels, which were impacted by weaker business transient demand, in part due to declines in government travel.”
“2024 Depreciation, amortization, and other $ 213 $ 183 $ 30 16 % General and administrative 870 945 (75) (8) % Restructuring and merger-related (recoveries) charges, and other (2) 77 (79) (103) % General and administrative expenses decreased primarily due to lower compensation costs ($39 million).”