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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
REVENUES      
Revenue $ 1,068,854 $ 772,598 $ 1,113,662
Total revenues 1,069,298 774,072 1,114,820
OPERATING EXPENSES      
Selling, general and administrative 145,623 148,910 168,937
Depreciation and amortization 24,773 25,831 18,828
Marketing and reservation system 444,946 446,847 579,139
Owned hotels 24,754 16,066 14,448
Total operating expenses 640,096 637,654 781,352
Impairment of goodwill 0 0 (3,097)
Impairment of long-lived assets (282) (14,751) (7,259)
Gain (loss) on sale of business and assets, net 13 0 (4,574)
Operating income 428,933 121,667 318,538
OTHER EXPENSES AND INCOME, NET      
Interest expense 46,680 49,028 46,807
Interest income (4,981) (7,688) (9,996)
Loss on extinguishment of debt 0 16,565 7,188
Other gains, net (5,134) (4,533) (4,966)
Equity in net loss of affiliates 15,876 15,289 9,576
Total other expenses (income), net 52,441 68,661 48,609
Income before income taxes 376,492 53,006 269,929
Income tax expense (benefit) 87,535 (22,381) 47,051
Net income $ 288,957 $ 75,387 $ 222,878
Basic earnings per share (in dollars per share) $ 5.20 $ 1.36 $ 4.00
Diluted earnings per share (in dollars per share) $ 5.15 $ 1.35 $ 3.98
Royalty fees      
REVENUES      
Revenue $ 397,218 $ 263,308 $ 388,151
Initial franchise and relicensing fees      
REVENUES      
Revenue 26,342 25,906 27,489
Procurement services      
REVENUES      
Revenue 50,393 45,242 61,429
Marketing and reservation system      
REVENUES      
Revenue 528,843 402,568 577,426
Owned hotels      
REVENUES      
Revenue 37,389 19,736 20,166
Owned hotels 37,833 20,168 20,282
Other      
REVENUES      
Revenue 28,669 15,838 39,001
Owned hotels $ 28,669 $ 16,880 $ 40,043