Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
REVENUES
Royalty fees	$ 111,009	$ 103,322	$ 290,926	$ 263,215
Initial franchise and relicensing fees	6,262	5,729	18,957	17,263
Procurement services	11,620	8,810	39,391	30,545
Marketing and reservation system	152,367	142,915	416,715	382,245
Other	10,232	9,154	30,336	26,546
Total revenues	291,490	269,930	796,325	719,814
OPERATING EXPENSES
Selling, general and administrative	38,191	46,573	125,325	124,356
Depreciation and amortization	3,815	1,601	10,537	4,986
Marketing and reservation system	138,316	128,661	394,112	365,435
Total operating expenses	180,322	176,835	529,974	494,777
Gain (loss) on sale of land and building, net	0	(32)	82	(32)
Operating income	111,168	93,063	266,433	225,005
OTHER INCOME AND EXPENSES, NET
Interest expense	11,706	11,399	34,720	33,884
Interest income	(1,966)	(1,575)	(5,218)	(4,277)
Other gains	(972)	(778)	(1,355)	(2,251)
Equity in net (income) loss of affiliates	(43)	274	5,358	3,213
Total other income and expenses, net	8,725	9,320	33,505	30,569
Income before income taxes	102,443	83,743	232,928	194,436
Income tax expense	22,484	26,554	48,044	62,293
Net income	$ 79,959	$ 57,189	$ 184,884	$ 132,143
Basic earnings per share (in dollars per share)	$ 1.42	$ 1.01	$ 3.27	$ 2.34
Diluted earnings per share (in dollars per share)	1.41	1.01	3.24	2.33
Cash dividends declared per share (in dollars per share)	$ 0.215	$ 0.215	$ 0.645	$ 0.645