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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
REVENUES        
Total revenues $ 427,964 $ 425,557 $ 1,195,069 $ 1,185,769
OPERATING EXPENSES        
Selling, general and administrative 49,077 44,042 162,697 151,387
Business combination, diligence and transition costs 984 10,871 17,723 30,613
Depreciation and amortization 10,861 9,633 32,623 29,468
Total operating expenses 276,181 290,515 850,515 848,487
Operating income 151,783 135,042 344,554 337,282
OTHER EXPENSES AND INCOME, NET        
Interest expense 22,038 16,168 66,064 46,522
Interest income (2,411) (1,897) (6,557) (5,836)
Loss on extinguishment of debt 331 0 331 0
Other (gain) loss (4,013) 1,343 (133) (2,752)
Equity in net gain of affiliates (1,310) (1,801) (9,088) (1,923)
Total other expenses and income, net 14,635 13,813 50,617 36,011
Income before income taxes 137,148 121,229 293,937 301,271
Income tax expense 31,432 29,205 70,076 71,717
Net income $ 105,716 $ 92,024 $ 223,861 $ 229,554
Basic earnings per share (in usd per share) $ 2.24 $ 1.83 $ 4.64 $ 4.51
Diluted earnings per share (in usd per share) 2.22 1.81 4.61 4.47
Cash dividends declared per share (in usd per share) $ 0.2875 $ 0.2875 $ 0.8625 $ 0.8625
Royalty, licensing and management fees        
REVENUES        
Total revenues $ 147,151 $ 148,512 $ 394,431 $ 396,503
Initial franchise fees        
REVENUES        
Total revenues 5,866 6,194 19,133 21,240
Platform and procurement services fees        
REVENUES        
Total revenues 16,178 15,542 58,060 58,186
Owned hotels        
REVENUES        
Total revenues 31,936 26,239 85,345 74,075
OPERATING EXPENSES        
Operating expenses 22,343 18,628 62,370 53,924
Other        
REVENUES        
Total revenues 13,857 11,436 45,251 33,211
Other revenues from franchised and managed properties        
REVENUES        
Total revenues 212,976 217,634 592,849 602,554
OPERATING EXPENSES        
Operating expenses $ 192,916 $ 207,341 $ 575,102 $ 583,095