XML 12 R2.htm IDEA: XBRL DOCUMENT v3.24.1.u1
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
REVENUES    
REVENUES $ 331,949 $ 332,792
OPERATING EXPENSES    
Selling, general and administrative 48,625 48,921
Business combination, diligence and transition costs 15,844 10,362
Depreciation and amortization 10,935 10,023
Total operating expenses 271,800 254,941
Operating income 60,149 77,851
OTHER EXPENSES AND INCOME, NET    
Interest expense 20,181 14,084
Interest income (1,731) (1,883)
Other loss (gain) 1,336 (1,908)
Equity in net loss of affiliates 155 63
Total other expenses and income, net 19,941 10,356
Income before income taxes 40,208 67,495
Income tax expense 9,199 14,675
Net income $ 31,009 $ 52,820
Basic earnings per share (in usd per share) $ 0.63 $ 1.02
Diluted earnings per share (in usd per share) 0.62 1.02
Cash dividends declared per share (in usd per share) $ 0.2875 $ 0.2875
Royalty, licensing and management fees    
REVENUES    
REVENUES $ 105,467 $ 107,492
Initial franchise fees    
REVENUES    
REVENUES 6,705 7,882
Platform and procurement services fees    
REVENUES    
REVENUES 13,756 13,843
Owned hotels    
REVENUES    
REVENUES 24,991 22,332
OPERATING EXPENSES    
Operating expenses 19,323 17,146
Other    
REVENUES    
REVENUES 16,357 10,627
Other revenues from franchised and managed properties    
REVENUES    
REVENUES 164,673 170,616
OPERATING EXPENSES    
Operating expenses $ 177,073 $ 168,489