Deferred Revenue

12 Months Ended

Dec. 31, 2023

Deferred Revenue and Credits [Abstract]

Deferred Revenue

Deferred Revenue

Deferred revenue consisted of the following:

	December 31,
(in thousands)	2023		2022
Initial franchise fees	$	128,935	$	123,790
Loyalty programs	98,225		93,419
System implementation fees	3,912		4,675
Procurement services fees	7,963		2,568
Other	2,782		2,392
Total deferred revenue	$	241,817	$	226,844
Current portion	$	108,316	$	92,695
Long-term portion	$	133,501	$	134,149

Refer to Note 2 for the revenue recognition policies resulting in the deferral of revenue, including loyalty programs and the relationship between the loyalty programs deferred revenue and the liability for the guest loyalty programs.