Consolidated Statements of Cash Flow (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 121,334	$ 107,550
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	9,215	8,707
Loss (gain) on disposal of assets	32	(377)
Provision for bad debts, net	1,796	1,093
Non-cash stock compensation and other charges	20,369	11,037
Non-cash interest and other (income) loss	(451)	807
Deferred income taxes	44,777	(4,329)
Equity in net losses from unconsolidated joint ventures, less distributions received	4,278	1,654
Changes in assets and liabilities, net of acquisition:
Receivables	(47,520)	(42,426)
Advances to/from marketing and reservation system activities, net	43,697	(25,783)
Forgivable notes receivable, net	(21,443)	(15,109)
Accounts payable	19,679	(3,532)
Accrued expenses and other current liabilities	(11,540)	(14,261)
Income taxes payable/receivable	(20,114)	21,368
Deferred revenue	3,650	49,976
Other assets	(1,162)	(9,958)
Other liabilities	(1,578)	1,992
Net cash provided by operating activities	165,019	88,409
CASH FLOWS FROM INVESTING ACTIVITIES:
Investment in property and equipment	(17,514)	(17,584)
Investment in intangible assets	(2,376)	(482)
Proceeds from sales of assets	0	8,360
Business acquisition, net of cash acquired	0	(1,341)
Contributions to equity method investments	(44,876)	(24,179)
Distributions from equity method investments	4,307	3,700
Purchases of investments, employee benefit plans	(2,140)	(1,430)
Proceeds from sales of investments, employee benefit plans	2,150	1,395
Issuance of mezzanine and other notes receivable	(18,565)	(20,281)
Collections of mezzanine and other notes receivable	630	11,040
Acquisitions of real estate	0	(25,263)
Other items, net	109	60
Net cash used by investing activities	(78,275)	(66,005)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net (repayments) borrowings pursuant to revolving credit facilities	(39,974)	52,814
Principal payments on long-term debt	(484)	(836)
Purchases of treasury stock	(8,887)	(33,958)
Dividends paid	(36,483)	(34,690)
Debt issuance costs	0	(284)
Proceeds from transfer of interest in notes receivable	24,237	0
Proceeds from exercise of stock options	9,799	6,802
Net cash used by financing activities	(51,792)	(10,152)
Net change in cash and cash equivalents	34,952	12,252
Effect of foreign exchange rate changes on cash and cash equivalents	1,433	260
Cash and cash equivalents at beginning of period	202,463	193,441
Cash and cash equivalents at end of period	238,848	205,953
Cash payments during the period for:
Income taxes, net of refunds	31,254	32,085
Interest, net of capitalized interest	41,119	40,935
Non-cash investing and financing activities:
Dividends declared but not paid	12,167	11,499
Investment in property and equipment acquired in accounts payable	758	554
Non-cash sale of investment of unconsolidated joint venture	$ 0	$ 2,350