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Reportable Segments (Tables) | 9 Months Ended
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Sep. 30, 2025
Segment Reporting [Abstract] |
Schedule of Financial Information for Company's Franchising Segment | The following tables present the financial information for the Company's segments:
| Three Months Ended September 30, 2025 |  | Three Months Ended September 30, 2024
(in thousands) | Hotel Franchising & Management |  | Corporate & Other |  | Intersegment Eliminations |  | Consolidated |  | Hotel Franchising & Management |  | Corporate & Other |  | Intersegment Eliminations |  | Consolidated
Revenues | $ | 413,237 |  |  | $ | 37,611 |  |  | $ | (3,508) |  |  | $ | 447,340 |  |  | $ | 395,795 |  |  | $ | 35,385 |  |  | $ | (3,216) |  |  | $ | 427,964 |
Other segment items (1) | 211,307 |  |  | 81,365 |  |  | (3,508) |  |  | 289,164 |  |  | 215,523 |  |  | 50,981 |  |  | (3,216) |  |  | 263,288 |
Depreciation and amortization | 8,723 |  |  | 7,037 |  |  | — |  |  | 15,760 |  |  | 6,670 |  |  | 6,223 |  |  | — |  |  | 12,893 |
Operating income (loss) | 193,207 |  |  | (50,791) |  |  | — |  |  | 142,416 |  |  | 173,602 |  |  | (21,819) |  |  | — |  |  | 151,783 |
Reconciliation of segment profit or loss: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense |  |  |  |  |  |  | 23,490 |  |  |  |  |  |  |  |  | 22,038 |
Interest income |  |  |  |  |  |  | (1,435) |  |  |  |  |  |  |  |  | (2,411) |
Gain from an acquisition of a joint venture |  |  |  |  |  |  | (100,025) |  |  |  |  |  |  |  |  | — |
Gain on sale of assets |  |  |  |  |  |  | (713) |  |  |  |  |  |  |  |  | — |
Loss on extinguishment of debt |  |  |  |  |  |  | — |  |  |  |  |  |  |  |  | 331 |
Other gains, net |  |  |  |  |  |  | (721) |  |  |  |  |  |  |  |  | (4,013) |
Equity in net loss (gain) of affiliates |  |  |  |  |  |  | 10,904 |  |  |  |  |  |  |  |  | (1,310) |
Income before income taxes |  |  |  |  |  |  | $ | 210,916 |  |  |  |  |  |  |  |  | $ | 137,148 |
| Nine Months Ended September 30, 2025 |  | Nine Months Ended September 30, 2024
(in thousands) | Hotel Franchising & Management |  | Corporate & Other |  | Intersegment Eliminations |  | Consolidated |  | Hotel Franchising & Management |  | Corporate & Other |  | Intersegment Eliminations |  | Consolidated
Revenues | $ | 1,113,262 |  |  | $ | 103,239 |  |  | $ | (9,858) |  |  | $ | 1,206,643 |  |  | $ | 1,109,173 |  |  | $ | 94,720 |  |  | $ | (8,824) |  |  | $ | 1,195,069 |
Other segment items (1) | 635,380 |  |  | 191,244 |  |  | (9,858) |  |  | 816,766 |  |  | 656,325 |  |  | 164,469 |  |  | (8,824) |  |  | 811,970 |
Depreciation and amortization | 23,424 |  |  | 19,508 |  |  | — |  |  | 42,932 |  |  | 19,155 |  |  | 19,390 |  |  | — |  |  | 38,545 |
Operating income (loss) | 454,458 |  |  | (107,513) |  |  | — |  |  | 346,945 |  |  | 433,693 |  |  | (89,139) |  |  | — |  |  | 344,554 |
Reconciliation of segment profit or loss: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense |  |  |  |  |  |  | 67,468 |  |  |  |  |  |  |  |  | 66,064 |
Interest income |  |  |  |  |  |  | (4,450) |  |  |  |  |  |  |  |  | (6,557) |
Gain from an acquisition of a joint venture |  |  |  |  |  |  | (100,025) |  |  |  |  |  |  |  |  | — |
Gain on sale of assets |  |  |  |  |  |  | (713) |  |  |  |  |  |  |  |  | — |
Loss on extinguishment of debt |  |  |  |  |  |  | — |  |  |  |  |  |  |  |  | 331 |
Other gains, net |  |  |  |  |  |  | (5,659) |  |  |  |  |  |  |  |  | (133) |
Equity in net loss (gain) of affiliates |  |  |  |  |  |  | 11,035 |  |  |  |  |  |  |  |  | (9,088) |
Income before income taxes |  |  |  |  |  |  | $ | 379,289 |  |  |  |  |  |  |  |  | $ | 293,937 |
(1) Other segment items for the reportable segment include selling, general and administrative expenses and reimbursable expenses from franchised and managed properties.

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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