Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 55,463	$ 30,081
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	6,529	3,616
Depreciation and amortization – marketing and reservation system	4,873	4,521
Franchise agreement acquisition cost amortization	2,819	2,685
Gain on disposal of assets	0	(2,120)
Provision for credit losses, net	7,686	2,983
Impairment of long-lived assets	0	7,304
Impairment of goodwill	0	3,097
Loss on extinguishment of debt	607	0
Non-cash stock compensation and other charges	(2,575)	3,989
Non-cash interest and other loss (income)	4,339	(2,495)
Deferred income taxes	(26,677)	(2,257)
Equity in net losses from unconsolidated joint ventures, less distributions received	2,105	3,954
Franchise agreement acquisition cost, net of reimbursements	(7,122)	(6,401)
Change in working capital and other, net of acquisition	(42,283)	(31,014)
Net cash provided by operating activities	5,764	17,943
CASH FLOWS FROM INVESTING ACTIVITIES:
Investment in property and equipment	(6,229)	(14,906)
Investment in intangible assets	(1,004)	(760)
Proceeds from sales of assets	0	10,585
Contributions to equity method investments	(2,201)	(8,495)
Distributions from equity method investments	157	5,724
Purchases of investments, employee benefit plans	(1,544)	(1,603)
Proceeds from sales of investments, employee benefit plans	1,697	1,637
Issuance of notes receivable	(5,778)	(1,755)
Collections of notes receivable	63	5,096
Other items, net	14	197
Net cash used in investing activities	(14,825)	(4,280)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net borrowings pursuant to revolving credit facilities	396,800	42,400
Principal payments on long-term debt	(33,239)	(123)
Purchase of treasury stock	(54,072)	(31,951)
Dividends paid	(12,791)	(12,163)
Proceeds from issuance of long term debt	0	8,491
Payments on transfer of interest in notes receivable	0	(24,409)
Proceeds from exercise of stock options	1,235	9,203
Net cash provided by (used in) financing activities	297,933	(8,552)
Net change in cash and cash equivalents	288,872	5,111
Effect of foreign exchange rate changes on cash and cash equivalents	(684)	57
Cash and cash equivalents at beginning of period	33,766	26,642
Cash and cash equivalents at end of period	321,954	31,810
Cash payments during the period for:
Income taxes, net of refunds	1,024	807
Interest, net of capitalized interest	12,627	19,885
Non-cash investing and financing activities:
Dividends declared but not paid	12,313	11,970
Investment in property and equipment acquired in accounts payable	$ 2,709	$ 5,732