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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
REVENUES        
Total revenues $ 447,340 $ 427,964 $ 1,206,643 $ 1,195,069
OPERATING EXPENSES        
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
OTHER EXPENSES AND (INCOME), NET        
Interest expense 23,490 22,038 67,468 66,064
Interest income (1,435) (2,411) (4,450) (6,557)
Gain from an acquisition of a joint venture (100,025) 0 (100,025) 0
Gain on sale of assets (713) 0 (713) 0
Loss on extinguishment of debt 0 331 0 331
Other gains, net (721) (4,013) (5,659) (133)
Equity in net loss (gain) of affiliates 10,904 (1,310) 11,035 (9,088)
Total other expenses and (income), net (68,500) 14,635 (32,344) 50,617
Income before income taxes 210,916 137,148 379,289 293,937
Income tax expense 30,920 31,432 73,025 70,076
Net income $ 179,996 $ 105,716 $ 306,264 $ 223,861
Basic earnings per share (in usd per share) $ 3.89 $ 2.24 $ 6.59 $ 4.64
Diluted earnings per share (in usd per share) 3.86 2.22 6.52 4.61
Cash dividends declared per share (in usd per share) $ 0.2875 $ 0.2875 $ 0.8625 $ 0.8625
Franchise and management fees        
REVENUES        
Total revenues $ 193,777 $ 188,237 $ 515,931 $ 511,450
Partnership services and fees        
REVENUES        
Total revenues 28,868 24,320 81,313 71,527
Owned hotels        
REVENUES        
Total revenues 33,167 31,936 91,255 85,345
OPERATING EXPENSES        
Operating expenses 23,792 22,343 67,271 62,370
Other        
REVENUES        
Total revenues 22,094 11,647 57,937 49,671
Revenue for reimbursable costs from franchised and managed properties        
REVENUES        
Total revenues 169,434 171,824 460,207 477,076
OPERATING EXPENSES        
Operating expenses $ 184,268 $ 170,939 $ 504,437 $ 501,857