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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
REVENUES      
Total revenues $ 1,584,839 $ 1,544,165 $ 1,401,949
OPERATING EXPENSES      
Selling, general and administrative 219,878 216,081 167,697
Business combination, diligence and transition costs 17,233 55,778 39,578
Depreciation and amortization 43,282 39,659 30,425
Total operating expenses 1,121,066 1,165,401 939,597
Impairment of long-lived assets 0 (3,736) 0
Gain on sale of business and assets, net 0 0 16,249
Operating income 463,773 375,028 478,601
OTHER EXPENSES AND INCOME, NET      
Interest expense 87,131 63,780 43,797
Interest income (8,646) (7,764) (7,288)
Loss (gain) on extinguishment of debt 331 (4,416) 0
Other loss (gain) 1,641 (10,649) 7,018
Equity in net gain of affiliates (12,329) (2,879) (1,732)
Total other expenses and income, net 68,128 38,072 41,795
Income before income taxes 395,645 336,956 436,806
Income tax expense 95,980 78,449 104,654
Net income $ 299,665 $ 258,507 $ 332,152
Basic earnings per share (in dollars per share) $ 6.26 $ 5.11 $ 6.05
Diluted earnings per share (in dollars per share) $ 6.20 $ 5.07 $ 5.99
Royalty, licensing and management fees      
REVENUES      
Total revenues $ 514,569 $ 513,412 $ 471,759
Initial franchise fees      
REVENUES      
Total revenues 25,606 27,787 28,074
Platform and procurement services fees      
REVENUES      
Total revenues 75,752 75,114 63,800
Owned hotels      
REVENUES      
Total revenues 113,459 97,641 70,826
OPERATING EXPENSES      
Operating expenses 83,148 71,474 48,837
Other      
REVENUES      
Total revenues 61,803 46,051 64,740
Other revenues from franchised and managed properties      
REVENUES      
Total revenues 793,650 784,160 702,750
OPERATING EXPENSES      
Operating expenses $ 757,525 $ 782,409 $ 653,060