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Revenue (Tables)

9 Months Ended

Sep. 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 September 30, 2024:

(in thousands)
Balance as of December 31, 2023			$	209,895
Increases to the contract liability balance due to cash received			92,468
Revenue recognized in the period			(87,924)
Balance as of September 30, 2024			$	214,439

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
			September 30, 2024																		September 30, 2023
(in thousands)			Over time						Point in time						Total						Over time						Point in time						Total
Royalty, licensing and management fees			$	143,987					$	3,164					$	147,151					$	145,830					$	2,682					$	148,512
Initial franchise fees			5,866						—						5,866						6,194						—						6,194
Platform and procurement services fees			15,492						686						16,178						14,874						668						15,542
Owned hotels			24,491						7,445						31,936						19,497						6,742						26,239
Other			13,857						—						13,857						11,436						—						11,436
Other revenues from franchised and managed properties			193,173						19,803						212,976						200,399						17,235						217,634
Total revenues			$	396,866					$	31,098					$	427,964					$	398,230					$	27,327					$	425,557
			Nine Months Ended																		Nine Months Ended
			September 30, 2024																		September 30, 2023
(in thousands)			Over time						Point in time						Total						Over time						Point in time						Total
Royalty, licensing and management fees			$	385,553					$	8,878					$	394,431					$	389,332					$	7,171					$	396,503
Initial franchise fees			19,133						—						19,133						21,240						—						21,240
Platform and procurement services fees			56,050						2,010						58,060						56,112						2,074						58,186
Owned hotels			63,742						21,603						85,345						55,544						18,531						74,075
Other			45,251						—						45,251						33,211						—						33,211
Other revenues from franchised and managed properties			524,256						68,593						592,849						546,332						56,222						602,554
Total revenues			$	1,093,985					$	101,084					$	1,195,069					$	1,101,771					$	83,998					$	1,185,769

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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