Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
REVENUES:
Royalty fees	$ 104,252	$ 96,114	$ 265,727	$ 247,168
Initial franchise and relicensing fees	6,403	6,284	18,390	17,146
Procurement services	8,103	7,615	25,647	23,719
Marketing and reservation system	167,763	152,018	435,273	412,193
Other	8,567	5,546	24,748	16,220
Total revenues	295,088	267,577	769,785	716,446
OPERATING EXPENSES:
Selling, general and administrative	46,364	34,357	117,418	109,515
Depreciation and amortization	3,095	2,986	9,215	8,707
Marketing and reservation system	167,763	152,018	435,273	412,193
Total operating expenses	217,222	189,361	561,906	530,415
Gain (loss) on sale of assets, net	(32)	402	(32)	402
Operating income	77,834	78,618	207,847	186,433
OTHER INCOME AND EXPENSES, NET:
Interest expense	11,399	11,150	33,884	33,466
Interest income	(1,575)	(836)	(4,277)	(2,502)
Other gains	(778)	(746)	(2,251)	(1,005)
Equity in net (income) loss of affiliates	274	(1,150)	3,213	286
Total other income and expenses, net	9,320	8,418	30,569	30,245
Income before income taxes	68,514	70,200	177,278	156,188
Income taxes	20,919	22,635	55,944	48,638
Net income	$ 47,595	$ 47,565	$ 121,334	$ 107,550
Basic earnings per share (in dollars per share)	$ 0.84	$ 0.85	$ 2.15	$ 1.91
Diluted earnings per share (in dollars per share)	0.84	0.84	2.14	1.90
Cash dividends declared per share (in dollars per share)	$ 0.215	$ 0.205	$ 0.645	$ 0.615