Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
REVENUES
Royalty fees	$ 76,698	$ 68,294
Initial franchise and relicensing fees	6,214	5,806
Procurement services	9,938	7,363
Marketing and reservation system	107,001	98,853
Other	9,543	8,552
Total revenues	209,394	188,868
OPERATING EXPENSES
Selling, general and administrative	40,864	33,745
Depreciation and amortization	3,053	1,726
Marketing and reservation system	119,228	107,994
Total operating expenses	163,145	143,465
Operating income	46,249	45,403
OTHER INCOME AND EXPENSES, NET
Interest expense	11,309	11,205
Interest income	(1,609)	(1,264)
Other (gains) losses	120	(897)
Equity in net loss of affiliates	5,968	2,080
Total other income and expenses, net	15,788	11,124
Income before income taxes	30,461	34,279
Income taxes	5,375	10,010
Net income	$ 25,086	$ 24,269
Basic earnings per share (in dollars per share)	$ 0.44	$ 0.43
Diluted earnings per share (in dollars per share)	0.44	0.43
Cash dividends declared per share (in dollars per share)	$ 0.215	$ 0.215