v3.26.1
BUSINESS SEGMENTS - Schedule of Adjusted EBITDA for our Reportable Segments Reconciled to Net Income (Loss) and Net Income (Loss) Attributable to Stockholders (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Segment Reporting [Line Items]        
Segment Adjusted EBITDA $ 365 $ 325 $ 704 $ 591
Acquisition and integration-related (14) (26) (26) (54)
General and administrative (67) (58) (116) (104)
Depreciation and amortization (71) (59) (142) (126)
Other gain (loss), net 0 4 (1) 10
Interest expense (70) (79) (143) (156)
Income tax expense (8) (15) (14) (21)
Equity in earnings from unconsolidated affiliates 2 6 7 11
Loss on sale and impairment (48) (1) (48) (1)
Other adjustment items (16) (17) (27) (33)
Net income 15 28 83 16
Net income attributable to noncontrolling interest 3 3 5 8
Net income attributable to stockholders 12 25 78 8
License fees        
Segment Reporting [Line Items]        
License fees (58) (52) (111) (101)
Real estate sales and financing        
Segment Reporting [Line Items]        
Segment Adjusted EBITDA 211 176 422 309
Resort operations and club management        
Segment Reporting [Line Items]        
Segment Adjusted EBITDA $ 154 $ 149 $ 282 $ 282