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Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
REVENUES:      
Royalty fees $ 320,547 $ 301,508 $ 287,538
Initial franchise and relicensing fees 23,953 24,680 19,481
Procurement services 31,226 27,071 23,819
Marketing and reservation system 525,716 488,763 412,619
Other 23,199 17,856 14,513
Total revenues 924,641 859,878 757,970
OPERATING EXPENSES:      
Selling, general and administrative 148,728 134,254 121,418
Depreciation and amortization 11,705 11,542 9,365
Marketing and reservation system 525,716 488,763 412,619
Total operating expenses 686,149 634,559 543,402
Gain on sale of assets, net 403 0 0
Operating income 238,895 225,319 214,568
OTHER INCOME AND EXPENSES, NET:      
Interest expense 44,446 42,833 41,486
Interest income (3,535) (1,580) (1,761)
Other (gains) losses (1,504) (820) 427
Equity in net (income) loss of affiliates (492) 901 658
Total other income and expenses, net 38,915 41,334 40,810
Income from continuing operations before income taxes 199,980 183,985 173,758
Income taxes 60,609 55,956 52,285
Income from continuing operations, net of income taxes 139,371 128,029 121,473
Income from discontinued operations, net of income taxes 0 0 1,687
Net income $ 139,371 $ 128,029 $ 123,160
Basic earnings per share:      
Basic earnings per share, Continuing operations (in dollars per share) $ 2.48 $ 2.24 $ 2.08
Basic earnings per share, Discontinued operations (in dollars per share) 0.00 0.00 0.03
Basic earnings per share (in dollars per share) 2.48 2.24 2.11
Diluted earnings per share:      
Diluted earnings per share, Continuing operations (in dollars per share) 2.46 2.22 2.07
Diluted earnings per share, Discontinued operations (in dollars per share) 0.00 0.00 0.03
Diluted earnings per share (in dollars per share) $ 2.46 $ 2.22 $ 2.10