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  "documentTitle": "2023 Capital Markets Day",
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      "text": "Management & Franchise: Base, Trademark and Incentive fees collected from hotels operated under Management or Franchise contracts.",
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      "text": "(1) SMDL: Sales Marketing, Distribution & Loyalty",
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      "text": "Management & Franchise: Base, Trademark and Incentive fees collected from hotels operated under Management or Franchise contracts. Services to Owners: SMDL(1) & other fees and Reimbursed costs. Hotel Assets & Other: Mainly includes Mantra hotels for PME and Paris Society venues for L&L",
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      "text": "Management & Franchise 695 Services to Owners 965 Hotel Assets & Other 970 Premium, Midscale & Economy 2,629 Management & Franchise 357 Services to Owners 1,178 Hotel Assets & Other 114 Luxury & Lifestyle 1,649 Holding & Intercos (54) Total 4,224",
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      "text": "2022 FINANCIALS UNDER NEW REPORTING: GROUP REVENUE",
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