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Fair Value Measurements (Tables) | 12 Months Ended
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Dec. 31, 2023
Fair Value Disclosures [Abstract] |
Schedule of Fair Value of Assets | As of December 31, 2023 and 2022, the Company recognized the following assets at fair value on a recurring basis in the consolidated balance sheets:
| Fair Value Measurements at Reporting Date Using
(in thousands) | Total |  | Level 1 |  | Level 2 |  | Level 3
December 31, 2023 |  |  |  |  |  |  |
Equity securities | $ | 116,374 |  |  | $ | 116,374 |  |  | $ | — |  |  | $ | — |
Mutual funds(1) | 36,810 |  |  | 36,810 |  |  | — |  |  | — |
Money market funds(1) | 4,767 |  |  | — |  |  | 4,767 |  |  | — |
Total | $ | 157,951 |  |  | $ | 153,184 |  |  | $ | 4,767 |  |  | $ | — |
December 31, 2022 |  |  |  |  |  |  |
Equity securities | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Mutual funds(1) | 29,143 |  |  | 29,143 |  |  | — |  |  | — |
Money market funds(1) | 3,242 |  |  | — |  |  | 3,242 |  |  | — |
Total | $ | 32,385 |  |  | $ | 29,143 |  |  | $ | 3,242 |  |  | $ | — |
(1)The current assets at fair value noted above are presented in prepaid expenses and other assets in the consolidated balance sheets. The long-term assets at fair value noted above are presented in investments for employee benefit plans, at fair value in the consolidated balance sheets.
Schedule of Equity Method Investment Ownership Interests and Financial Information | The Company's ownership interests in its affiliates were as follows:
|  | Ownership Interest
|  | December 31, 2023 |  | December 31, 2022
Choice Hotels Canada, Inc.(1) |  | 50 | % |  | 50 | %
Main Street WP Hotel Associates, LLC |  | 50 | % |  | 50 | %
CS Hotel West Orange, LLC |  | 50 | % |  | 50 | %
City Market Hotel Development, LLC |  | 43 | % |  | 43 | %
CS Woodlands, LLC (2) |  | — | % |  | 50 | %
926 James M. Wood Boulevard, LLC |  | 75 | % |  | 75 | %
EH Glendale JV LLC |  | 80 | % |  | — | %
CS Lakeside Santa Clara LLC |  | 50 | % |  | 50 | %
BL 219 Holdco, LP |  | 50 | % |  | 50 | %
Integrated 32 West Randolph LLC |  | 20 | % |  | 20 | %
EH Nampa JV LLC |  | 80 | % |  | 80 | %
Radisson Hotel La Crosse (1) |  | 14 | % |  | 14 | %
EH Cheyenne JV LLC |  | 80 | % |  | — | %
EH Waco JV LLC |  | 80 | % |  | — | %
EH Amarillo JV LLC |  | 80 | % |  | — | %
EH Yuma JV LLC |  | 80 | % |  | — | %
EH El Paso JV LLC |  | 80 | % |  | — | %
EH Brownsville JV LLC |  | 80 | % |  | — | %
(1) Non-VIE investments. (2) During the year ended December 31, 2023, the Company received distributions resulting from the sale of the underlying assets of the affiliate. The following tables present summarized financial information for all of the unconsolidated joint ventures in which the Company holds an investment in affiliate that is accounted for under the equity method of accounting:
| Year Ended December 31,
(in thousands) | 2023 |  | 2022 |  | 2021
Revenues | $ | 65,634 |  |  | $ | 58,821 |  |  | $ | 35,514 |
Operating income | $ | 12,504 |  |  | $ | 7,977 |  |  | $ | 2,299 |
Income (loss) from continuing operations | $ | 314 |  |  | $ | 1,837 |  |  | $ | (5,227) |
Net loss | $ | (1,255) |  |  | $ | (1,058) |  |  | $ | (1,593) |
| As of December 31,
(in thousands) | 2023 |  | 2022
Current assets | $ | 63,397 |  |  | $ | 39,870 |
Non-current assets | 269,693 |  |  | 237,347 |
Total assets | $ | 333,090 |  |  | $ | 277,217 |
Current liabilities | $ | 63,526 |  |  | $ | 38,660 |
Non-current liabilities | 177,451 |  |  | 181,894 |
Total liabilities | $ | 240,977 |  |  | $ | 220,554 |
The following table is a summary of the unrealized gains and losses of investments in equity securities. There have been no dispositions and therefore no realized gains or losses in equity securities during the year ended December 31, 2023.
|  | 2023 |  | 2022
(in thousands) |  | Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value |  | Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value
Equity Securities |  | $ | 112,420 |  |  | $ | 3,954 |  |  | $ | — |  |  | $ | 116,374 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments | The fair values of the Company's senior unsecured notes are classified as Level 2 because the significant inputs are observable in an active market. Refer to Note 12 for additional information on debt. As of December 31, 2023 and 2022, the carrying amounts and the fair values were as follows:
| December 31, 2023 |  | December 31, 2022
(in thousands) | Carrying Amount |  | Fair Value |  | Carrying Amount |  | Fair Value
2020 Senior Notes | $ | 445,690 |  |  | $ | 389,241 |  |  | $ | 445,080 |  |  | $ | 384,647 |
2019 Senior Notes | $ | 396,440 |  |  | $ | 355,068 |  |  | $ | 395,838 |  |  | $ | 349,368 |

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- Definition Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3 + Details
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- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
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- Definition Tabular disclosure of information pertaining to carrying amount and estimated fair value of short-term and long-term debt instruments or arrangements, including but not limited to, identification of terms, features, and collateral requirements. + References No definition available. + Details
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