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Reportable Segment Information
12 Months Ended
Dec. 31, 2023
Segment Reporting [Abstract]  
Reportable Segment Information Reportable Segment Information
The Hotel Franchising & Management reportable segment includes the Company's hotel franchising operations which consists of its 22 brands and brand extensions and the hotel management operations of 14 hotels (inclusive of four owned hotels). The 22 brands and brand extensions and hotel management operations are aggregated together within this reportable segment because they have similar economic characteristics, types of customers, distribution channels, and regulatory business environments. The revenues from the hotel franchising and management business include royalty fees, initial franchise fees and relicensing fees, cost reimbursement revenues, platform and procurement services fees revenue, base and incentive management fees, and other hotel franchising and management-related revenue. The Company provides certain services under its franchise and management agreements which result in direct and indirect reimbursements. The cost reimbursement revenues received from the franchisees are included in Hotel Franchising & Management revenues and are offset by the related expenses in order to calculate Hotel Franchising & Management operating income. The equity in the earnings or losses from the hotel franchising-related investment in affiliates is allocated to the Hotel Franchising & Management reportable segment.
The Company evaluates its Hotel Franchising & Management reportable segment based primarily on the results of the segment without allocating corporate expenses, indirect general and administrative expenses, interest expense, interest income, other gains and losses, or income taxes, all of which are included in the Corporate & Other column in the tables presented below. The Corporate & Other column additionally reflects the operations of the Company's owned hotels.
Intersegment Eliminations to revenues is the elimination of Hotel Franchising & Management revenue which includes royalty fees, management and cost reimbursement fees charged to our owned hotels against the franchise and management fee expense that is recognized by our owned hotels in Corporate & Other operating income (loss).
Our President and Chief Executive Officer, who is our chief operating decision maker, does not use assets by operating segment when assessing the performance or when making operating segment resource allocation decisions and therefore, assets by segment are not disclosed below.
The following tables presents the financial information for the Company's segments:
 For the Year Ended December 31, 2023
(in thousands)Hotel Franchising & ManagementCorporate &
Other
Intersegment EliminationsConsolidated
Revenues$1,444,394 $110,854 $(11,083)$1,544,165 
Operating income (loss)508,531 (133,503) 375,028 
Depreciation and amortization19,183 20,476  39,659 
Income (loss) before income taxes511,410 (174,454) 336,956 
 For the Year Ended December 31, 2022
(in thousands)Hotel Franchising & ManagementCorporate &
Other
Intersegment EliminationsConsolidated
Revenues$1,298,521 $108,879 $(5,451)$1,401,949 
Operating income (loss)552,905 (74,304)— 478,601 
Depreciation and amortization12,935 17,490 — 30,425 
Income (loss) before income taxes554,637 (117,831)— 436,806 
 For the Year Ended December 31, 2021
(in thousands)Hotel Franchising & ManagementCorporate &
Other
Intersegment EliminationsConsolidated
Revenues$1,026,409 $45,740 $(2,851)$1,069,298 
Operating income (loss)485,199 (56,266)— 428,933 
Depreciation and amortization8,050 16,723 — 24,773 
Income (loss) before income taxes468,894 (92,402)— 376,492 
The results of the Company's international operations are included in the Hotel Franchising & Management reportable segment and Corporate & Other. For the years ended December 31, 2023, 2022, and 2021, the revenues generated by the international operations, including royalty fees, cost reimbursable revenues, and other revenues, were $103.2 million, $70.2 million, and $46.8 million, respectively.