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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 44,534 $ 31,009
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 13,748 12,815
Depreciation and amortization – reimbursable expenses from franchised and managed properties 4,887 5,148
Franchise agreement acquisition cost amortization 9,791 6,185
Non-cash share-based compensation and other charges 9,834 10,597
Non-cash interest, investments, and affiliate loss, net 1,515 2,510
Deferred income taxes 626 (736)
Equity in net loss of affiliates, less distributions received 413 1,200
Franchise agreement acquisition costs, net of reimbursements (26,287) (33,486)
Change in working capital and other (38,594) (33,501)
Net cash provided by operating activities 20,467 1,741
CASH FLOWS FROM INVESTING ACTIVITIES    
Investments in other property and equipment (10,543) (7,203)
Investments in owned hotel properties (35,462) (25,574)
Contributions to investments in affiliates (5,415) (9,317)
Issuances of notes receivable (1,952) (1,042)
Collections of notes receivable 1,487 884
Proceeds from sales of equity securities 0 1,230
Other items, net (1,067) (1,714)
Net cash used in investing activities (52,952) (42,736)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net borrowings pursuant to revolving credit facilities 105,500 126,500
Purchases of treasury stock (64,624) (59,459)
Dividends paid (13,471) (14,728)
Proceeds from the exercise of stock options 4,803 4,160
Net cash provided by financing activities 32,208 56,473
Net change in cash and cash equivalents (277) 15,478
Effect of foreign exchange rate changes on cash and cash equivalents 154 (121)
Cash and cash equivalents, beginning of period 40,177 26,754
Cash and cash equivalents, end of period 40,054 42,111
Cash payments during the period for    
Income taxes, net of refunds 3,029 2,327
Interest, net of capitalized interest 32,268 19,596
Non-cash investing and financing activities    
Dividends declared but not paid 13,391 14,147
Investments in property, equipment, and intangible assets recognized in accounts payable and accrued expense liabilities $ 17,337 $ 14,020