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Revenue (Tables)

6 Months Ended

Jun. 30, 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 June 30, 2024:

(in thousands)
Balance as of December 31, 2023			$	209,895
Increases to the contract liability balance due to cash received			60,223
Revenue recognized in the period			(58,624)
Balance as of June 30, 2024			$	211,494

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
			June 30, 2024																		June 30, 2023
(in thousands)			Over time						Point in time						Total						Over time						Point in time						Total
Royalty, licensing and management fees			$	138,459					$	3,354					$	141,813					$	136,654					$	3,845					$	140,499
Initial franchise fees			6,562						—						6,562						7,164						—						7,164
Platform and procurement services fees			27,381						745						28,126						27,997						804						28,801
Owned hotels			21,170						7,248						28,418						19,155						6,349						25,504
Other			15,037						—						15,037						11,148						—						11,148
Other revenues from franchised and managed properties			183,001						32,199						215,200						189,853						24,451						214,304
Total revenues			$	391,610					$	43,546					$	435,156					$	391,971					$	35,449					$	427,420
			Six Months Ended																		Six Months Ended
			June 30, 2024																		June 30, 2023
(in thousands)			Over time						Point in time						Total						Over time						Point in time						Total
Royalty, licensing and management fees			$	241,566					$	5,714					$	247,280					$	243,502					$	4,489					$	247,991
Initial franchise fees			13,267						—						13,267						15,046						—						15,046
Platform and procurement services fees			40,558						1,324						41,882						41,237						1,407						42,644
Owned hotels			39,251						14,158						53,409						36,047						11,789						47,836
Other			31,394						—						31,394						21,775						—						21,775
Other revenues from franchised and managed properties			331,083						48,790						379,873						345,934						38,986						384,920
Total revenues			$	697,119					$	69,986					$	767,105					$	703,541					$	56,671					$	760,212

X

- 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

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X

- 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

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- References

No definition available.

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