Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
REVENUES
Royalty fees	$ 80,353	$ 76,698
Initial franchise and relicensing fees	6,807	6,214
Procurement services	11,947	9,938
Marketing and reservation system	110,064	107,001
Other	9,149	9,543
Total revenues	218,320	209,394
OPERATING EXPENSES
Selling, general and administrative	39,514	40,864
Depreciation and amortization	3,616	3,053
Marketing and reservation system	119,839	119,228
Total operating expenses	162,969	163,145
Impairment of goodwill	(3,097)	0
Impairment of long-lived assets	(7,304)	0
Gain on sale of assets, net	100	0
Operating income	45,050	46,249
OTHER INCOME AND EXPENSES, NET
Interest expense	11,211	11,309
Interest income	(2,613)	(1,609)
Other (gain) loss	(2,198)	120
Equity in net loss of affiliates	2,171	5,968
Total other income and expenses, net	8,571	15,788
Income before income taxes	36,479	30,461
Income tax expense	6,398	5,375
Net income	$ 30,081	$ 25,086
Basic earnings per share (in dollars per share)	$ 0.54	$ 0.44
Diluted earnings per share (in dollars per share)	0.54	0.44
Cash dividends declared per share (in dollars per share)	$ 0.215	$ 0.215