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through loading=lazy src=data:imagegifbase64iVBORw0KGgoAAAANSUhEUgAAAAIAAAACCAQAAADYv8WvAAAAD0lEQVR42mP8X8AwAgiABKBAv+vAXklAAAAAElFTkSuQmCC data-src=https:reader034vdocumentsusreader034viewer20220424065f20ab1d85d5c827960055e4html5thumbnails32jpg width=140 height=200 divdivdiv class=ts-pagebutton class=gotoPage data-page=33Page 33button div class=ts-imageimg data-url=hilton-a-investor-mediafileshhilton-the-year-before-management-and-franchisehtmlpage=33 data-page=33 class=ts-thumb lazyload alt=Page 33: Hilton – Investor Relationsirhiltonworldwidecom~mediaFilesHHilton · the year before Management and franchise fees a large proportion of which flows directly through loading=lazy src=data:imagegifbase64iVBORw0KGgoAAAANSUhEUgAAAAIAAAACCAQAAADYv8WvAAAAD0lEQVR42mP8X8AwAgiABKBAv+vAXklAAAAAElFTkSuQmCC data-src=https:reader034vdocumentsusreader034viewer20220424065f20ab1d85d5c827960055e4html5thumbnails33jpg width=140 height=200 divdivdiv class=ts-pagebutton class=gotoPage data-page=34Page 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