CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 52,820	$ 67,391
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	10,023	6,231
Depreciation and amortization – marketing and reservation system	9,276	7,154
Gain on sale and disposal of business and assets, net	0	(29)
Amortization - franchise agreement acquisition cost	4,637	3,784
Non-cash stock compensation and other charges	10,630	7,555
Non-cash interest and investment (income) loss	(1,442)	1,909
Deferred income taxes	7,566	(3,119)
Equity in net loss of affiliates, less distributions received	421	230
Franchise agreement acquisition costs, net of reimbursements	(28,092)	(12,435)
Change in working capital and other	(53,806)	(14,747)
Net cash provided by operating activities	12,033	63,924
CASH FLOWS FROM INVESTING ACTIVITIES
Investment in property and equipment	(19,566)	(26,809)
Investment in intangible assets	(1,097)	(1,208)
Proceeds from sale of business and assets	0	8,494
Contributions to investments in affiliates	(3,620)	(268)
Proceeds from sale of equity method investments	868	0
Purchases of investments, employee benefit plans	(2,670)	(2,818)
Proceeds from sales of investments, employee benefit plans	716	1,853
Issuance of notes receivable	(3,660)	(1,245)
Collections of notes receivable	337	63
Other items, net	(771)	(529)
Net cash used in investing activities	(29,463)	(22,467)
CASH FLOWS FROM FINANCING ACTIVITIES
Net borrowings pursuant to revolving credit facilities	176,000	0
Debt issuance costs	(755)	0
Purchases of treasury stock	(160,488)	(14,802)
Dividends paid	(12,821)	(13,204)
Proceeds from exercise of stock options	5,504	2,211
Net cash provided by (used in) financing activities	7,440	(25,795)
Net change in cash and cash equivalents	(9,990)	15,662
Effect of foreign exchange rate changes on cash and cash equivalents	103	(58)
Cash and cash equivalents at beginning of period	41,566	511,605
Cash and cash equivalents at end of period	31,679	527,209
Cash payments during the period for
Income taxes, net of refunds	1,603	513
Interest, net of capitalized interest	13,396	14,462
Non-cash investing and financing activities
Dividends declared but not paid	14,985	13,250
Investment in property, equipment and intangibles acquired in accounts payable and accrued liabilities	$ 6,704	$ 4,129