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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
REVENUES        
Total revenues $ 435,156 $ 427,420 $ 767,105 $ 760,212
OPERATING EXPENSES        
Selling, general and administrative 64,995 58,424 113,620 107,345
Business combination, diligence and transition costs 895 9,380 16,739 19,742
Depreciation and amortization 10,827 9,812 21,762 19,835
Total operating expenses 302,534 303,031 574,334 557,972
Operating income 132,622 124,389 192,771 202,240
OTHER EXPENSES AND INCOME, NET        
Interest expense 23,845 16,270 44,026 30,354
Interest income (2,415) (2,056) (4,146) (3,939)
Other loss (gain) 2,544 (2,187) 3,880 (4,095)
Equity in net gain of affiliates (7,933) (185) (7,778) (122)
Total other expenses and income, net 16,041 11,842 35,982 22,198
Income before income taxes 116,581 112,547 156,789 180,042
Income tax expense 29,445 27,837 38,644 42,512
Net income $ 87,136 $ 84,710 $ 118,145 $ 137,530
Basic earnings per share (in usd per share) $ 1.82 $ 1.66 $ 2.42 $ 2.68
Diluted earnings per share (in usd per share) 1.80 1.65 2.41 2.66
Cash dividends declared per share (in usd per share) $ 0.2875 $ 0.2875 $ 0.5750 $ 0.5750
Royalty, licensing and management fees        
REVENUES        
Total revenues $ 141,813 $ 140,499 $ 247,280 $ 247,991
Initial franchise fees        
REVENUES        
Total revenues 6,562 7,164 13,267 15,046
Platform and procurement services fees        
REVENUES        
Total revenues 28,126 28,801 41,882 42,644
Owned hotels        
REVENUES        
Total revenues 28,418 25,504 53,409 47,836
OPERATING EXPENSES        
Operating expenses 20,704 18,150 40,027 35,296
Other        
REVENUES        
Total revenues 15,037 11,148 31,394 21,775
Other revenues from franchised and managed properties        
REVENUES        
Total revenues 215,200 214,304 379,873 384,920
OPERATING EXPENSES        
Operating expenses $ 205,113 $ 207,265 $ 382,186 $ 375,754