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v3.25.3

Basis of Presentation and Significant Accounting Policies - Effect of the Reclassifications (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended
--- | --- | ---
Sep. 30, 2025 | Sep. 30, 2024 | Sep. 30, 2025 | Sep. 30, 2024
Error Corrections and Prior Period Adjustments Restatement [Line Items] |  |  |  |
Total revenues | $ 447,340 | $ 427,964 | $ 1,206,643 | $ 1,195,069
Selling, general and administrative | 79,610 | 69,022 | 243,118 | 230,020
Business combination, diligence and transition costs | 1,494 | 984 | 1,940 | 17,723
Depreciation and amortization | 15,760 | 12,893 | 42,932 | 38,545
Total operating expenses | 304,924 | 276,181 | 859,698 | 850,515
Operating income | 142,416 | 151,783 | 346,945 | 344,554
Franchise and management fees |  |  |  |
Error Corrections and Prior Period Adjustments Restatement [Line Items] |  |  |  |
Total revenues | 193,777 | 188,237 | 515,931 | 511,450
Initial franchise fees |  |  |  |
Error Corrections and Prior Period Adjustments Restatement [Line Items] |  |  |  |
Total revenues |  | 0 |  | 0
Partnership services and fees |  |  |  |
Error Corrections and Prior Period Adjustments Restatement [Line Items] |  |  |  |
Total revenues | 28,868 | 24,320 | 81,313 | 71,527
Owned hotels |  |  |  |
Error Corrections and Prior Period Adjustments Restatement [Line Items] |  |  |  |
Total revenues | 33,167 | 31,936 | 91,255 | 85,345
Operating expenses | 23,792 | 22,343 | 67,271 | 62,370
Other |  |  |  |
Error Corrections and Prior Period Adjustments Restatement [Line Items] |  |  |  |
Total revenues | 22,094 | 11,647 | 57,937 | 49,671
Revenue for reimbursable costs from franchised and managed properties |  |  |  |
Error Corrections and Prior Period Adjustments Restatement [Line Items] |  |  |  |
Total revenues | 169,434 | 171,824 | 460,207 | 477,076
Operating expenses | $ 184,268 | 170,939 | $ 504,437 | 501,857
As previously reported |  |  |  |
Error Corrections and Prior Period Adjustments Restatement [Line Items] |  |  |  |
Total revenues |  | 427,964 |  | 1,195,069
Selling, general and administrative |  | 49,077 |  | 162,697
Business combination, diligence and transition costs |  | 984 |  | 17,723
Depreciation and amortization |  | 10,861 |  | 32,623
Total operating expenses |  | 276,181 |  | 850,515
Operating income |  | 151,783 |  | 344,554
As previously reported | Franchise and management fees |  |  |  |
Error Corrections and Prior Period Adjustments Restatement [Line Items] |  |  |  |
Total revenues |  | 147,151 |  | 394,431
As previously reported | Initial franchise fees |  |  |  |
Error Corrections and Prior Period Adjustments Restatement [Line Items] |  |  |  |
Total revenues |  | 5,866 |  | 19,133
As previously reported | Partnership services and fees |  |  |  |
Error Corrections and Prior Period Adjustments Restatement [Line Items] |  |  |  |
Total revenues |  | 16,178 |  | 58,060
As previously reported | Owned hotels |  |  |  |
Error Corrections and Prior Period Adjustments Restatement [Line Items] |  |  |  |
Total revenues |  | 31,936 |  | 85,345
Operating expenses |  | 22,343 |  | 62,370
As previously reported | Other |  |  |  |
Error Corrections and Prior Period Adjustments Restatement [Line Items] |  |  |  |
Total revenues |  | 13,857 |  | 45,251
As previously reported | Revenue for reimbursable costs from franchised and managed properties |  |  |  |
Error Corrections and Prior Period Adjustments Restatement [Line Items] |  |  |  |
Total revenues |  | 212,976 |  | 592,849
Operating expenses |  | 192,916 |  | 575,102
Reclassification |  |  |  |
Error Corrections and Prior Period Adjustments Restatement [Line Items] |  |  |  |
Total revenues |  | 0 |  | 0
Selling, general and administrative |  | 19,945 |  | 67,323
Business combination, diligence and transition costs |  | 0 |  | 0
Depreciation and amortization |  | 2,032 |  | 5,922
Total operating expenses |  | 0 |  | 0
Operating income |  | 0 |  | 0
Reclassification | Franchise and management fees |  |  |  |
Error Corrections and Prior Period Adjustments Restatement [Line Items] |  |  |  |
Total revenues |  | 41,086 |  | 117,019
Reclassification | Initial franchise fees |  |  |  |
Error Corrections and Prior Period Adjustments Restatement [Line Items] |  |  |  |
Total revenues |  | (5,866) |  | (19,133)
Reclassification | Partnership services and fees |  |  |  |
Error Corrections and Prior Period Adjustments Restatement [Line Items] |  |  |  |
Total revenues |  | 8,142 |  | 13,467
Reclassification | Owned hotels |  |  |  |
Error Corrections and Prior Period Adjustments Restatement [Line Items] |  |  |  |
Total revenues |  | 0 |  | 0
Operating expenses |  | 0 |  | 0
Reclassification | Other |  |  |  |
Error Corrections and Prior Period Adjustments Restatement [Line Items] |  |  |  |
Total revenues |  | (2,210) |  | 4,420
Reclassification | Revenue for reimbursable costs from franchised and managed properties |  |  |  |
Error Corrections and Prior Period Adjustments Restatement [Line Items] |  |  |  |
Total revenues |  | (41,152) |  | (115,773)
Operating expenses |  | $ (21,977) |  | $ (73,245)

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