Modified · Overview

We are a worldwide operatorfranchisor, franchisoroperator, and licensor of hotel, residential, timeshare, and other lodging properties under more than 30 brand namesa portfolio of compelling brands at different price and service points. Consistent with our focus on managementfranchising, franchisingmanagement, and licensing, we own or lease very few of our lodging properties (less than one percent of our system). As of year-end 20242025, our system included 9,3619,805 properties (1,706,3311,779,936 rooms) in 144145 countries and territories, and we also had nearly 3,800 hotelsapproximately 4,100 properties (over 577,000nearly 610,000 rooms) in our development pipeline.