CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 173,559	$ 108,219
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	11,710	12,594
Depreciation and amortization – marketing and reservation system	14,608	12,076
Gain on sale and disposal of business and assets, net	(3,309)	0
Franchise agreement acquisition cost amortization	7,623	6,294
Stock compensation and other charges	17,770	16,295
Interest and investment loss (income)	7,459	(6,824)
Deferred income taxes	(5,493)	(3,465)
Equity in net loss of affiliates, less distributions received	745	7,398
Franchise agreement acquisition costs, net of reimbursements	(27,016)	(18,078)
Change in working capital and other	(38,307)	(32,102)
Net cash provided by operating activities	159,349	102,407
CASH FLOWS FROM INVESTING ACTIVITIES
Investment in property and equipment	(49,866)	(23,393)
Investment in intangible assets	(1,824)	(2,976)
Asset acquisitions, net of cash paid	(856)	0
Proceeds from sale of business and assets	32,893	0
Contributions to investments in affiliates	(669)	(1,136)
Proceeds from sale of equity method investments	0	11,830
Purchases of investments, employee benefit plans	(3,294)	(931)
Proceeds from sales of investments, employee benefit plans	1,854	1,994
Issuance of notes receivable	(1,987)	(17,918)
Collections of notes receivable	63	63
Other items, net	(305)	(486)
Net cash used in investing activities	(23,991)	(32,953)
CASH FLOWS FROM FINANCING ACTIVITIES
Debt issuance costs	(24)	0
Purchase of treasury stock	(15,140)	(5,362)
Dividends paid	(26,453)	0
Proceeds from exercise of stock options	2,359	9,115
Net cash (used in) provided by financing activities	(39,258)	3,753
Net change in cash and cash equivalents	96,100	73,207
Effect of foreign exchange rate changes on cash and cash equivalents	(520)	(11)
Cash and cash equivalents at beginning of period	511,605	234,779
Cash and cash equivalents at end of period	607,185	307,975
Cash payments during the period for
Income taxes, net of refunds	40,144	17,108
Interest, net of capitalized interest	21,614	21,885
Non-cash investing and financing activities
Dividends declared but not paid	13,249	12,521
Investment in property, equipment and intangibles acquired in accounts payable and accrued liabilities	5,715	$ 4,085
Asset acquisition from extinguishment of note receivable	$ 20,446