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Revenue (Tables) | 3 Months Ended
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Mar. 31, 2024
Revenue from Contract with Customer [Abstract] |
Schedule of Contract with Customer, Liability | The following table summarizes the significant changes in the contract liabilities balances during the period from December 31, 2023 to March 31, 2024:
(in thousands) |
Balance as of December 31, 2023 | $ | 209,895 |
Increases to the contract liability balance due to cash received | 26,183 |
Revenue recognized in the period | (26,273) |
Balance as of March 31, 2024 | $ | 209,805 |
Schedule of Disaggregation of Revenue | The following table presents the Company's revenues by over time and point in time recognition:
| Three Months Ended |  | Three Months Ended
| March 31, 2024 |  | March 31, 2023
(in thousands) | Over time |  | Point in time |  | Total |  | Over time |  | Point in time |  | Total
Royalty, licensing and management fees | $ | 103,107 |  |  | $ | 2,360 |  |  | $ | 105,467 |  |  | $ | 107,492 |  |  | $ | — |  |  | $ | 107,492 |
Initial franchise fees | 6,705 |  |  | — |  |  | 6,705 |  |  | 7,882 |  |  | — |  |  | 7,882 |
Platform and procurement services fees | 13,177 |  |  | 579 |  |  | 13,756 |  |  | 13,239 |  |  | 604 |  |  | 13,843 |
Owned hotels | 18,081 |  |  | 6,910 |  |  | 24,991 |  |  | 16,893 |  |  | 5,439 |  |  | 22,332 |
Other | 16,357 |  |  | — |  |  | 16,357 |  |  | 10,627 |  |  | — |  |  | 10,627 |
Other revenues from franchised and managed properties | 148,082 |  |  | 16,591 |  |  | 164,673 |  |  | 155,438 |  |  | 15,178 |  |  | 170,616 |
Total revenues | $ | 305,509 |  |  | $ | 26,440 |  |  | $ | 331,949 |  |  | $ | 311,571 |  |  | $ | 21,221 |  |  | $ | 332,792 |

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- Definition Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-10 + Details
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- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-5 + Details
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