Selected Quarterly Financial Data - (Unaudited)

12 Months Ended

Dec. 31, 2013

Quarterly Financial Information Disclosure [Abstract]

Selected Quarterly Financial Data - (Unaudited)

Quarterly Financial Data—(Unaudited)

The financial statements information presented below has been restated and revised to correct errors related to the Company’s accounting for it's historical practice of reporting royalty and certain marketing and reservation fees one month in arrears as described in Note 1 to the consolidated financial statements and other immaterial items. In addition, the Company's results of operations have been recast to reflect discontinued operations related to the Company's plan to dispose of the three Company owned Mainstay Suites hotels entered into in the first quarter of 2014.

	First   Quarter   (Restated)			Second   Quarter   (Restated)		Third   Quarter   (Restated)		Fourth   Quarter   (Restated)		2013
	(In thousands, except per share data)
Revenues	$	148,171		$	190,930	$	216,718	$	168,831	$	724,650
Operating income	$	37,139		$	54,739	$	63,228	$	41,142	$	196,248
Income from continuing operations before income taxes	$	27,582		$	44,504	$	54,271	$	32,315	$	158,672
Income from continuing operations, net of income taxes	$	19,776		$	31,624	$	38,573	$	23,377	$	113,350
Income (loss) from discontinued operations, net of income taxes	$	(33	)	$	183	$	143	$	66	$	359
Net income	$	19,743		$	31,807	$	38,716	$	23,443	$	113,709
Per basic share:
Continuing Operations	$	0.34		$	0.54	$	0.66	$	0.40	$	1.94
Discontinued Operations	$	—		$	—	$	—	$	—	$	—
Per diluted share:
Continuing operations	$	0.34		$	0.54	$	0.65	$	0.40	$	1.92
Discontinued operations	$	—		$	—	$	0.01	$	—	$	0.01
	First   Quarter   (Restated)			Second   Quarter   (Restated)		Third   Quarter   (Restated)		Fourth   Quarter   (Restated)		2012
	(In thousands, except per share data)
Revenues	$	141,550		$	180,888	$	205,271	$	165,019	$	692,728
Operating income	$	37,746		$	55,334	$	62,374	$	38,026	$	193,480
Income from continuing operations before income taxes	$	36,914		$	51,683	$	52,789	$	28,120	$	169,506
Income from continuing operations, net of income taxes	$	23,766		$	34,236	$	42,637	$	20,639	$	121,278
Income (loss) from discontinued operations, net of income taxes	$	25		$	138	$	107	$	65	$	335
Net income	$	23,791		$	34,374	$	42,744	$	20,704	$	121,613
Per basic share:
Continuing operations	$	0.41		$	0.59	$	0.74	$	0.36	$	2.09
Discontinued operations	$	—		$	—	$	—	$	—	$	—
Per diluted share:
Continuing operations	$	0.41		$	0.59	$	0.73	$	0.35	$	2.08
Discontinued operations	$	—		$	—	$	—	$	—	$	0.01

The matters which affect the comparability of the quarterly results include the following:

• Seasonality: The Company’s revenues and operating income reflect the industry’s seasonality and as a result are lower in the first and fourth quarters and higher in the second and third quarters.

• Investment income and losses: The Company’s net income reflects gains and losses related to the Company’s investments held in non-qualified retirement plans and are subject to market conditions.

• Year Ended December 31, 2012 results:

• Loss on Settlement of a Pension Plan: During the fourth quarter of 2012, the Company recorded a $1.8 million loss on the settlement of a pension plan consisting primarily of the recognition of previously unrecognized actuarial losses which had been recorded as a component of the Company's accumulated other comprehensive loss on the Company's consolidated balance sheets.

• Income taxes: The Company's third quarter 2012 income taxes reflect a $4.5 million benefit related to a change in estimate of the benefit from foreign operations.