Choice Hotels International (CHH) 10-Q 5 Nov 19 2019 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2019	Oct. 31, 2019
Cover page.
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2019
Document Transition Report	false
Entity File Number	001-13393
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	52-1209792
Entity Address, Address Line One	1 Choice Hotels Circle
Entity Address, Address Line Two	Suite 400
Entity Address, City or Town	Rockville
Entity Address, State or Province	MD
Entity Address, Postal Zip Code	20850
City Area Code	301
Local Phone Number	592-5000
Title of 12(b) Security	Common Stock, Par Value $0.01 per share
Trading Symbol	CHH
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		55,730,708
Entity Registrant Name	CHOICE HOTELS INTERNATIONAL INC /DE
Entity Central Index Key	0001046311
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Amendment Flag	false

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
REVENUES
Revenues	$ 310,422	$ 291,149	$ 845,885	$ 795,281
Total revenues	310,732	291,490	846,736	796,325
OPERATING EXPENSES
Selling, general and administrative	38,308	38,191	124,802	125,325
Depreciation and amortization	5,568	3,815	12,589	10,537
Marketing and reservation system	158,430	138,316	438,390	394,112
Owned hotels	6,014	0	6,014	0
Total operating expenses	208,320	180,322	581,795	529,974
Impairment of goodwill	0	0	(3,097)	0
Impairment of long-lived assets	33	0	(7,271)	0
Loss on sale of business	(25)	0	(4,666)	0
Gain on sale of assets, net	0	0	100	82
Operating income	102,420	111,168	250,007	266,433
OTHER INCOME AND EXPENSES, NET
Interest expense	12,431	11,706	34,735	34,720
Interest income	(2,220)	(1,966)	(7,617)	(5,218)
Other gains	(115)	(972)	(3,219)	(1,355)
Equity in net loss (income) of affiliates	6,400	(43)	9,551	5,358
Total other income and expenses, net	16,496	8,725	33,450	33,505
Income before income taxes	85,924	102,443	216,557	232,928
Income tax expense	9,685	22,484	35,848	48,044
Net income	$ 76,239	$ 79,959	$ 180,709	$ 184,884
Basic earnings per share (in dollars per share)	$ 1.37	$ 1.42	$ 3.25	$ 3.27
Diluted earnings per share (in dollars per share)	1.36	1.41	3.23	3.24
Cash dividends declared per share (in dollars per share)	$ 0.215	$ 0.215	$ 0.645	$ 0.645
Royalty fees
REVENUES
Revenues	$ 113,688	$ 111,009	$ 300,468	$ 290,926
Initial franchise and relicensing fees
REVENUES
Revenues	6,741	6,262	20,223	18,957
Procurement services
REVENUES
Revenues	14,814	11,620	47,590	39,391
Marketing and reservation system
REVENUES
Revenues	157,024	152,367	439,553	416,715
Owned hotels
REVENUES
Revenues	8,661	0	8,661	0
Total revenues	8,710	0	8,710	0
Other
REVENUES
Revenues	9,494	9,891	29,390	29,292
Total revenues	$ 9,755	$ 10,232	$ 30,192	$ 30,336

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Statement of Comprehensive Income [Abstract]
Net income	$ 76,239	$ 79,959	$ 180,709	$ 184,884
Other comprehensive loss, net of tax:
Amortization of loss on cash flow hedge	215	215	646	646
Foreign currency translation adjustment	(224)	(250)	(883)	(1,264)
Other comprehensive loss, net of tax	(9)	(35)	(237)	(618)
Comprehensive income	$ 76,230	$ 79,924	$ 180,472	$ 184,266

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Current assets
Cash and cash equivalents	$ 31,569	$ 26,642
Receivables (net of allowance for doubtful accounts of $16,872 and $15,905, respectively)	171,802	138,018
Income taxes receivable	4,651	10,122
Notes receivable, net of allowances	29,012	36,759
Other current assets	23,230	32,243
Total current assets	260,264	243,784
Property and equipment, at cost, net	347,343	127,535
Operating lease right-of-use assets	26,251	0
Goodwill	159,197	168,996
Intangible assets, net	279,484	271,188
Notes receivable, net of allowances	92,995	83,440
Investments, employee benefit plans, at fair value	23,489	19,398
Investments in unconsolidated entities	69,190	109,016
Deferred income taxes	27,245	30,613
Other assets	88,804	84,400
Total assets	1,374,262	1,138,370
Current liabilities
Accounts payable	84,512	73,511
Accrued expenses and other current liabilities	73,680	92,651
Deferred revenue	77,337	67,614
Current portion of long-term debt	507	1,097
Liability for guest loyalty program	80,268	83,566
Total current liabilities	316,304	318,439
Long-term debt	875,843	753,514
Long-term deferred revenue	110,997	110,278
Deferred compensation and retirement plan obligations	28,306	24,212
Income taxes payable	23,510	26,276
Operating lease liabilities	23,768	0
Liability for guest loyalty program	45,882	52,327
Other liabilities	6,387	37,096
Total liabilities	1,430,997	1,322,142
Commitments and Contingencies
Common stock, $0.01 par value; 160,000,000 shares authorized; 95,065,638 shares issued at September 30, 2019 and December 31, 2018; 55,715,777 and 55,679,207 shares outstanding at September 30, 2019 and December 31, 2018, respectively	951	951
Additional paid-in-capital	224,979	213,170
Accumulated other comprehensive loss	(5,683)	(5,446)
Treasury stock, at cost; 39,349,861 and 39,386,431 shares at September 30, 2019 and December 31, 2018, respectively	(1,216,169)	(1,187,625)
Retained earnings	939,187	795,178
Total shareholders’ deficit	(56,735)	(183,772)
Total liabilities and shareholders’ deficit	$ 1,374,262	$ 1,138,370

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Receivables, allowance for doubtful accounts	$ 16,872	$ 15,905
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	160,000,000	160,000,000
Common stock, shares issued (in shares)	95,065,638	95,065,638
Common stock, shares outstanding (in shares)	55,715,777	55,679,207
Treasury stock, shares (in shares)	39,349,861	39,386,431

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 180,709	$ 184,884
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	12,589	10,537
Depreciation and amortization – marketing and reservation system	12,355	14,687
Franchise agreement acquisition cost amortization	7,537	6,662
Gain on disposal of assets	(2,181)	(58)
Provision for bad debts, net	5,722	6,279
Impairment of long-lived assets	7,271	0
Impairment of goodwill	3,097	0
Loss on sale of business	4,666	0
Non-cash stock compensation and other charges	12,433	11,455
Non-cash interest and other (income) loss	(2,615)	492
Deferred income taxes	3,268	(5,610)
Equity in net losses from unconsolidated joint ventures, less distributions received	12,234	7,122
Franchise agreement acquisition cost, net of reimbursements	(25,592)	(40,554)
Change in working capital and other, net of acquisition	(40,516)	(49,059)
Net cash provided by operating activities	190,977	146,837
CASH FLOWS FROM INVESTING ACTIVITIES:
Investment in property and equipment	(46,135)	(34,129)
Investment in intangible assets	(3,659)	(1,665)
Proceeds from sales of assets	10,585	3,053
Business acquisition, net of cash acquired	0	(231,317)
Payment on business disposition, net	(10,783)	0
Asset acquisition, net of cash acquired	(168,954)	(3,179)
Proceeds from sale of unconsolidated joint venture	8,937	0
Contributions to equity method investments	(17,329)	(9,050)
Distributions from equity method investments	9,841	1,429
Purchases of investments, employee benefit plans	(2,748)	(2,441)
Proceeds from sales of investments, employee benefit plans	2,197	2,646
Issuance of notes receivable	(10,767)	(28,876)
Collections of notes receivable	10,491	4,747
Other items, net	(1,842)	(1,065)
Net cash used in investing activities	(220,166)	(299,847)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net borrowings pursuant to revolving credit facilities	97,800	56,400
Principal payments on long-term debt	(371)	(477)
Purchase of treasury stock	(44,770)	(109,266)
Dividends paid	(36,103)	(36,628)
Debt issuance costs	(300)	(2,590)
Proceeds from issuance of long term debt	23,863	528
(Payments on) proceeds from transfer of interest in notes receivable	(24,409)	173
Proceeds from exercise of stock options	18,519	41,155
Net cash provided by (used in) financing activities	34,229	(50,705)
Net change in cash and cash equivalents	5,040	(203,715)
Effect of foreign exchange rate changes on cash and cash equivalents	(113)	(705)
Cash and cash equivalents at beginning of period	26,642	235,336
Cash and cash equivalents at end of period	31,569	30,916
Cash payments during the period for:
Income taxes, net of refunds	25,681	50,806
Interest, net of capitalized interest	42,169	41,746
Non-cash investing and financing activities:
Dividends declared but not paid	11,978	12,087
Investment in property and equipment acquired in accounts payable	$ 1,575	$ 1,743

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Deficit - USD ($) $ in Thousands		Total	Common Stock	Additional Paid-in- Capital	Accumulated Other Comprehensive Income (Loss)	Treasury Stock	Retained Earnings
Beginning balance (in shares) at Dec. 31, 2017			56,679,968
Beginning balance at Dec. 31, 2017		$ (258,601)	$ 951	$ 182,448	$ (4,699)	$ (1,064,573)	$ 627,272
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		25,086					25,086
Other comprehensive income (loss)		1,070			1,070
Share based payment activity (in shares)			498,510
Share based payment activity		26,579		13,203		13,376
Dividends declared ($0.215 per share)		(12,182)					(12,182)
Treasury purchases (in shares)			(517,839)
Treasury purchases		(41,869)				(41,869)
Ending balance (in shares) at Mar. 31, 2018			56,660,639
Ending balance at Mar. 31, 2018		(259,917)	$ 951	195,651	(3,629)	(1,093,066)	640,176
Beginning balance (in shares) at Dec. 31, 2017			56,679,968
Beginning balance at Dec. 31, 2017		(258,601)	$ 951	182,448	(4,699)	(1,064,573)	627,272
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		184,884
Other comprehensive income (loss)		(618)
Ending balance (in shares) at Sep. 30, 2018			56,223,839
Ending balance at Sep. 30, 2018		(168,079)	$ 951	209,053	(5,317)	(1,148,441)	775,675
Beginning balance (in shares) at Mar. 31, 2018			56,660,639
Beginning balance at Mar. 31, 2018		(259,917)	$ 951	195,651	(3,629)	(1,093,066)	640,176
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		79,839					79,839
Other comprehensive income (loss)		(1,653)			(1,653)
Share based payment activity (in shares)			332,657
Share based payment activity		18,642		9,248		9,394
Dividends declared ($0.215 per share)		(12,159)					(12,159)
Treasury purchases (in shares)			(359,690)
Treasury purchases		(28,704)				(28,704)
Ending balance (in shares) at Jun. 30, 2018			56,633,606
Ending balance at Jun. 30, 2018		(203,952)	$ 951	204,899	(5,282)	(1,112,376)	707,856
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		79,959					79,959
Other comprehensive income (loss)		(35)			(35)
Share based payment activity (in shares)			88,846
Share based payment activity		6,780		4,154		2,626
Dividends declared ($0.215 per share)		(12,140)					(12,140)
Treasury purchases (in shares)			(498,613)
Treasury purchases		(38,691)				(38,691)
Ending balance (in shares) at Sep. 30, 2018			56,223,839
Ending balance at Sep. 30, 2018		$ (168,079)	$ 951	209,053	(5,317)	(1,148,441)	775,675
Beginning balance (in shares) at Dec. 31, 2018		55,679,207	55,679,207
Beginning balance at Dec. 31, 2018		$ (183,772)	$ 951	213,170	(5,446)	(1,187,625)	795,178
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		30,081					30,081
Other comprehensive income (loss)		8			8
Share based payment activity (in shares)			408,545
Share based payment activity		12,920		3,214		9,706
Dividends declared ($0.215 per share)		(12,149)					(12,149)
Treasury purchases (in shares)			(414,077)
Treasury purchases		(31,951)				(31,951)
Other	[1]	(614)					(614)
Ending balance (in shares) at Mar. 31, 2019			55,673,675
Ending balance at Mar. 31, 2019		$ (185,477)	$ 951	216,384	(5,438)	(1,209,870)	812,496
Beginning balance (in shares) at Dec. 31, 2018		55,679,207	55,679,207
Beginning balance at Dec. 31, 2018		$ (183,772)	$ 951	213,170	(5,446)	(1,187,625)	795,178
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		180,709
Other comprehensive income (loss)		$ (237)
Treasury purchases (in shares)		(498,917)
Ending balance (in shares) at Sep. 30, 2019		55,715,777	55,715,777
Ending balance at Sep. 30, 2019		$ (56,735)	$ 951	224,979	(5,683)	(1,216,169)	939,187
Beginning balance (in shares) at Mar. 31, 2019			55,673,675
Beginning balance at Mar. 31, 2019		(185,477)	$ 951	216,384	(5,438)	(1,209,870)	812,496
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		74,389					74,389
Other comprehensive income (loss)		(236)			(236)
Share based payment activity (in shares)			151,856
Share based payment activity		11,112		6,010		5,102
Dividends declared ($0.215 per share)		(11,962)					(11,962)
Treasury purchases (in shares)			(129,175)
Treasury purchases		(10,486)				(10,486)
Ending balance (in shares) at Jun. 30, 2019			55,696,356
Ending balance at Jun. 30, 2019		(122,660)	$ 951	222,394	(5,674)	(1,215,254)	874,923
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		76,239					76,239
Other comprehensive income (loss)		(9)			(9)
Share based payment activity (in shares)			46,116
Share based payment activity		6,253		4,835		1,418
Dividends declared ($0.215 per share)		$ (11,975)					(11,975)
Treasury purchases (in shares)		(22,034)	(26,695)
Treasury purchases		$ (2,333)				(2,333)
Other	[2]	$ (2,250)		(2,250)
Ending balance (in shares) at Sep. 30, 2019		55,715,777	55,715,777
Ending balance at Sep. 30, 2019		$ (56,735)	$ 951	$ 224,979	$ (5,683)	$ (1,216,169)	$ 939,187
[1]	Impact of adoption of Financial Accounting Standards Board ("FASB") Accounting Standards Update (“ASU”) No. 2014-09, Revenue From Contracts with Customers (Topic 606) and subsequent amendments to the initial guidance ("Topic 606") related to a foreign joint venture accounted for as an equity method investment.
[2]	Impact of transaction resulting in an increase in ownership of a consolidated joint venture for the construction and operation of a Cambria Hotel.

Consolidated Statements of Sh_2

Consolidated Statements of Shareholders' Deficit (Parenthetical) - $ / shares	3 Months Ended						9 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Sep. 30, 2019	Sep. 30, 2018
Statement of Stockholders' Equity [Abstract]
Cash dividends declared per share (in dollars per share)	$ 0.215	$ 0.215	$ 0.215	$ 0.215	$ 0.215	$ 0.215	$ 0.645	$ 0.645

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Basis of Presentation and Significant Accounting Policies	Basis of Presentation and Significant Accounting Policies Basis of Presentation The accompanying unaudited consolidated financial statements of Choice Hotels International, Inc. and its subsidiaries (together the "Company") have been prepared by the Company in accordance with United States of America generally accepted accounting principles ("GAAP") pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC"). These unaudited consolidated financial statements include all adjustments that are necessary, in the opinion of management, to fairly present the Company's financial position and results of operations. Except as otherwise disclosed, all adjustments are of a normal recurring nature. Certain information and footnote disclosures normally included in financial statements presented in accordance with GAAP have been omitted. The Company believes the disclosures made are adequate to make the information presented not misleading. The consolidated financial statements should be read in conjunction with the consolidated financial statements for the year ended December 31, 2018 and notes thereto included in the Company’s Annual Report on Form 10-K, filed with the SEC on February 26, 2019 . Interim results are not necessarily indicative of the entire year results. All inter-company transactions and balances between Choice Hotels International, Inc. and its subsidiaries have been eliminated in consolidation. The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Summary of Significant Accounting Policies The Company’s significant accounting policies are detailed in the “Summary of Significant Accounting Policies” section of Note 1 in the Annual Report on Form 10-K for the year ended December 31, 2018 . The significant accounting policies that changed in 2019 are set forth below. Recently Adopted Accounting Standards In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) and issued subsequent amendments to the initial guidance at various points thereafter (collectively referred to as "Topic 842"). Topic 842 requires a lessee to recognize operating leases on its balance sheet by recording liabilities for its lease obligations and assets for its right-of-use ("ROU") of the underlying assets as of the lease commencement dates. This differs from prior treatment of operating leases in accordance with ASC 840, Leases (Topic 840) ("Topic 840"), as operating leases were not captured on a lessee's consolidated balance sheet. Topic 842 prescribes that entities should recognize expenses on their consolidated statements of income in a manner similar to Topic 840 whereby minimum lease payments are recognized on a straight-line basis over a lease term. The Company elected to apply the package of practical expedients that allows entities to forego reassessing at the transition date: (i) whether expired or existing contracts are or contain leases; (ii) lease classification for any expired or existing leases; and (iii) whether initial direct costs for existing leases qualify for capitalization. Topic 842 allows entities an optional transitional method to apply the transition requirements at the effective date, rather than at the beginning of the earliest comparative period. An entity’s reporting for the comparative periods presented in the year of adoption continues to be in accordance with Topic 840, including the disclosure requirements of Topic 840. The Company adopted Topic 842 on January 1, 2019 using this optional transition method and therefore, the financial results reported in periods prior to January 1, 2019 are unchanged. Adoption of the standard during the first quarter of 2019 resulted in the recording of operating lease ROU assets of $28.0 million and operating lease liabilities of $38.5 million as of March 31, 2019 . Topic 842 did not have an impact on our consolidated statements of income. Refer to Note 7. Recently Issued Accounting Standards In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326) and issued subsequent amendments to the initial guidance at various points thereafter ("Topic 326"), which will require the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Topic 326 requires enhanced disclosures, including qualitative and quantitative requirements, to provide insight to significant estimates and judgments used in estimating credit losses and the amounts recorded in the financial statements. The guidance is effective for annual reporting periods beginning after December 15, 2019 and interim periods within those fiscal years. Topic 326 requires the use of the modified retrospective approach for adoption. The Company is currently assessing the potential impact that Topic 326 will have on its consolidated balance sheets, statements of income, and disclosures, including the processes to evaluate allowances for trade and notes receivables. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement ("ASU 2018-13"). ASU 2018-13 modifies disclosure requirements on fair value measurements. The guidance is effective for annual reporting periods beginning after December 15, 2019 and interim periods within those fiscal years. Early adoption is permitted. The Company is currently assessing the potential impact that ASU 2018-13 will have on the consolidated financial statement disclosures. In August 2018, the FASB issued ASU 2018-15, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40) : Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract ("ASU 2018-15"). ASU 2018-15 aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). The guidance is effective for annual reporting periods beginning after December 15, 2019 and interim periods within those fiscal years. Early adoption is permitted. The Company is currently assessing the potential impact that ASU 2018-15 will have on the consolidated financial statements and disclosures.

Revenue

Revenue	9 Months Ended
	Sep. 30, 2019
Revenue from Contract with Customer [Abstract]
Revenue	Revenue Revenue Recognition - Owned Hotels The Company acquired or opened five hotels in the third quarter of 2019, from which it derives revenues from hotel ownership. At our owned hotels, the Company has performance obligations to provide accommodations to hotel guests. As compensation, the Company is typically entitled to a fixed nightly fee for an agreed upon period that is generally payable at the time the hotel guest checks out of the hotel. The Company typically satisfies the performance obligations over time and recognizes the revenue on a daily basis, as the hotel rooms are occupied and services are rendered. Other ancillary goods and services are purchased independently of the hotel stay at standalone selling prices and are considered separate performance obligations, which are satisfied at the point in time when the related good or service is provided to the guest. These primarily consist of food and beverage and parking fees. Contract Liabilities Contract liabilities relate to (i) advance consideration received, such as initial franchise and relicensing fees paid when a franchise agreement is awarded and system implementation fees paid at time of installation, for services considered to be part of the brand intellectual property performance obligation and (ii) amounts received when Choice Privileges points are issued but for which revenue is not yet recognized since the related points have not been redeemed. Initial and relicensing fees are charged when (i) new hotels enter the franchise system, (ii) there is a change of ownership, or (iii) existing franchise agreements are extended. These revenues are recognized as revenue ratably as services are provided over the enforceable period of the franchise agreement. System implementation fees charged to franchisees are also deferred and recognized as revenue over the enforceable period of the franchise agreement. The enforceable period is the period from hotel opening to the first point the franchisee or the Company can terminate the franchise agreement without incurring a significant penalty. Deferred revenues from initial and relicensing fees and system implementation fees will typically be recognized over a five - to ten -year period, unless the franchise agreement is terminated and the hotel exits the franchise system whereby remaining deferred amounts will be recognized to revenue in the period of termination. Loyalty points represent a performance obligation attributable to usage of the points, and thus revenues are recognized at the point in time when the loyalty points are redeemed by members for benefits. The estimated fair value of future redemptions is reflected in current and non-current Liability for guest loyalty program in the consolidated balance sheets. The amount of the loyalty program fees in excess of the point liability represents current and non-current Deferred revenue, which is recognized to revenue as points are redeemed including an estimate of future forfeitures. The anticipated redemption pattern of the points is the basis for current and non-current designation of each liability. Loyalty points are typically redeemed within three years of issuance. Significant changes in the contract liabilities balances during the period December 31, 2018 to September 30, 2019 are as follows: (in thousands) Balance as of December 31, 2018 $ 153,180 Increases to the contract liability balance due to cash received 74,221 Revenue recognized in the period (61,971 ) Balance as of September 30, 2019 $ 165,430 Remaining Performance Obligations The aggregate amount of transaction price allocated to unsatisfied or partially unsatisfied performance obligations is $165.4 million as of September 30, 2019 . This amount represents fixed transaction price that will be recognized as revenue in future periods, which is primarily captured in the consolidated balance sheet as current and non-current deferred revenue. Based on practical expedient elections permitted by Topic 606, the Company does not disclose the value of unsatisfied performance obligations for (i) variable consideration subject to the sales or usage-based royalty constraint or comprising a component of a series (including franchise, partnership, qualified vendor, and software as a service ("SaaS") agreements), (ii) variable consideration for which we recognize revenue at the amount to which we have the right to invoice for services performed, or (iii) contracts with an expected original duration of one year or less. Disaggregation of Revenue Three Months Ended Three Months Ended September 30, 2019 September 30, 2018 Over time Point in time Total Over time Point in time Total Revenues: (in thousands) (in thousands) Royalty fees $ 113,688 $ — $ 113,688 $ 111,009 $ — $ 111,009 Initial franchise and relicensing fees 6,741 — 6,741 6,262 — 6,262 Procurement services 14,084 730 14,814 10,949 671 11,620 Marketing and reservation system 146,263 10,761 157,024 139,577 12,790 152,367 Owned hotels 7,460 1,201 8,661 — — — Other 9,494 — 9,494 9,769 122 9,891 Total Topic 606 revenues $ 297,730 $ 12,692 310,422 $ 277,566 $ 13,583 291,149 Non-Topic 606 revenues 310 341 $ 310,732 $ 291,490 Nine Months Ended Nine Months Ended September 30, 2019 September 30, 2018 Over time Point in time Total Over time Point in time Total Revenues: (in thousands) (in thousands) Royalty fees $ 300,468 $ — $ 300,468 $ 290,926 $ — $ 290,926 Initial franchise and relicensing fees 20,223 — 20,223 18,957 — 18,957 Procurement services 45,219 2,371 47,590 37,433 1,958 39,391 Marketing and reservation system 380,544 59,009 439,553 371,321 45,394 416,715 Owned hotels 7,460 1,201 8,661 — — — Other 29,249 141 29,390 28,313 979 29,292 Total Topic 606 revenues $ 783,163 $ 62,722 845,885 $ 746,950 $ 48,331 795,281 Non-Topic 606 revenues 851 1,044 $ 846,736 $ 796,325 Non-Topic 606 revenues primarily represent revenue from leasing (refer to Note 7) and are presented in Owned hotels and Other revenues in the consolidated statements of income. As presented in Note 14, the Corporate & Other segment amounts represent $10.2 million and $3.7 million for the three months ended September 30, 2019 and 2018 , respectively, and $17.6 million and $10.7 million for the nine months ended September 30, 2019 and 2018 , respectively. The Corporate & Other revenues are included in the Over time column of Other revenues and the Owned Hotels and Non-Topic 606 revenues rows. The remaining revenues relate to the Hotel Franchising segment. Royalty fees are presented net of $0.8 million in intersegment revenues described in Note 14.

Other Current Assets

Other Current Assets	9 Months Ended
	Sep. 30, 2019
Assets, Current [Abstract]
Other Current Assets	Other Current Assets Other current assets consist of the following: September 30, 2019 December 31, 2018 (in thousands) Prepaid expenses $ 20,324 $ 18,412 Other current assets 2,906 6,831 Land held for sale — 7,000 Total $ 23,230 $ 32,243 Land held for sale represents certain parcels of land previously acquired by the Company as part of its program to incent franchise development in strategic markets for the Company's Cambria Hotels brand. During the nine months ended September 30, 2019 , the Company sold one parcel of land with a total book value of $7.0 million recognizing a gain on sale of $0.1 million .

Notes Receivable and Allowance

Notes Receivable and Allowance for Losses	9 Months Ended
	Sep. 30, 2019
Accounts and Financing Receivable, after Allowance for Credit Loss [Abstract]
Notes Receivable and Allowance for Losses	Notes Receivable and Allowance for Losses The following table shows the composition of the Company's notes receivable balances: September 30, 2019 December 31, 2018 Credit Quality Indicator (in thousands) Senior $ 94,492 $ 94,349 Subordinated 29,697 28,100 Unsecured 2,503 2,435 Total notes receivable 126,692 124,884 Allowance for losses on receivables specifically evaluated for impairment 4,426 4,426 Allowance for losses on non-impaired loans 259 259 Total loan reserves 4,685 4,685 Net carrying value $ 122,007 $ 120,199 Current portion, net $ 29,012 $ 36,759 Long-term portion, net 92,995 83,440 Total $ 122,007 $ 120,199 The Company utilizes the level of security it has in the notes receivable as its primary credit quality indicator (i.e., senior, subordinated or unsecured) when determining the appropriate allowances for uncollectible loans. The Company considers loans to be past due and in default when payments are not made when due. Although the Company considers loans to be in default if payments are not received on the due date, the Company does not suspend the accrual of interest until those payments are more than 30 days past due. The Company applies payments received for loans on non-accrual status first to interest and then principal. The Company does not resume interest accrual until all delinquent payments are received. For impaired loans, the Company recognizes interest income on a cash basis. For restructured loans that are provided a concession, the Company recognizes interest as earned as long as the borrower is in compliance with the restructured loan terms. The Company determined that approximately $52.0 million and $52.1 million of its notes receivable were impaired at September 30, 2019 and December 31, 2018 , respectively. The total unpaid principal balances of these impaired notes, which were current based on their restructured loan maturity terms, as of both September 30, 2019 and December 31, 2018 were $51.8 million . The Company recorded allowances for credit losses on these impaired loans totaling $4.4 million at both September 30, 2019 and December 31, 2018 . The average notes receivable on non-accrual status was approximately $1.7 million and $1.8 million for the nine months ended September 30, 2019 and 2018 , respectively. The Company recognized $2.2 million and $43 thousand of interest income on impaired loans on a cash basis during the nine months ended September 30, 2019 and 2018 , respectively. The Company provided loan reserves on non-impaired loans totaling $0.3 million at both September 30, 2019 and December 31, 2018 . There were no changes in total loan reserves between December 31, 2018 and September 30, 2019 . The Company has identified loans totaling approximately $13.8 million and $12.9 million , respectively, with stated interest rates that are less than market rate, representing a total discount of $1.2 million and $1.5 million as of September 30, 2019 and December 31, 2018 , respectively. These discounts are reflected as a reduction of the outstanding loan amounts and are amortized over the life of the related loan. Past due balances of notes receivable by credit quality indicators are as follows: 30-89 days Past Due > 90 days Past Due Total Past Due Current Total Notes Receivable As of September 30, 2019 (in thousands) Senior $ — $ — $ — $ 94,492 $ 94,492 Subordinated — — — 29,697 29,697 Unsecured — — — 2,503 2,503 $ — $ — $ — $ 126,692 $ 126,692 As of December 31, 2018 Senior $ — $ — $ — $ 94,349 $ 94,349 Subordinated — — — 28,100 28,100 Unsecured — — — 2,435 2,435 $ — $ — $ — $ 124,884 $ 124,884 Variable Interest through Notes Issued The Company has issued notes receivables to certain entities that have created variable interests in these borrowers totaling $116.2 million and $114.3 million as of September 30, 2019 and December 31, 2018 , respectively. The Company has determined that it is not the primary beneficiary of these variable interest entities ("VIEs"). These loans have stated fixed and/ or variable interest amounts.

Loss on Sale of Business and Im

Loss on Sale of Business and Impairment of Assets	9 Months Ended
	Sep. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Loss on Sale of Business and Impairment of Assets	Loss on Sale of Business and Impairment of Assets During the first quarter of 2019, the SaaS for vacation rentals reporting unit experienced a triggering event requiring the interim reevaluation of the reporting unit's long-lived assets group and goodwill, resulting in the recognition of an impairment of long-lived assets of $7.3 million and impairment of goodwill of $3.1 million . During the second quarter of 2019, the SaaS for vacation rentals reporting unit was sold, resulting in a loss on sale of business of $4.7 million . First Quarter of 2019 evaluation On January 29, 2019, the Company became aware that a key customer of the SaaS for vacation rentals reporting unit provided the unit’s management team with a letter purporting to terminate the customer’s contract. The unit’s management team asserted, and the Company believed, that the purported termination notice was not valid. The customer was contemplated in the SaaS for vacation rentals reporting unit's projected revenues, and the Company determined that the unit’s receipt of the purported termination notice, even though the validity of the notice was being actively contested by the unit, represented a triggering event which required an interim reevaluation of the reporting unit's long-lived assets group and goodwill in the first quarter of 2019. The long-lived assets of the SaaS for vacation rentals reporting unit were comprised of $4.3 million of intangible assets, $1.7 million of operating lease ROU assets, and $1.3 million of property and equipment. The long-lived asset group was determined to be at the SaaS for vacation rentals reporting unit level. Recoverability of the long-lived asset group was assessed based on net, undiscounted expected cash flows of the asset group, which were less than the carrying amount of the asset group. An impairment charge was recorded for the excess of the carrying value over the fair value of the asset group. To estimate the fair value of the long-lived asset group, the Company utilized a combination of income and market approach valuation methods via performance of a discounted cash flow analysis and quoted market prices. The Company recognized a non-cash pre-tax long-lived asset group impairment charge for the full amount of SaaS for vacation rentals long-lived assets of $7.3 million . The carrying value of the SaaS for vacation rentals reporting unit was adjusted after the $7.3 million long-lived asset impairment. The adjusted carrying value exceeded the fair value of the reporting unit by $3.1 million , resulting in an additional non-cash pre-tax impairment charge on the SaaS for vacation rentals reporting unit's goodwill in this amount. As of March 31, 2019, the carrying value of the reporting unit's goodwill was $6.4 million . Second Quarter of 2019 evaluation On June 3, 2019 , the SaaS for vacation rentals reporting unit was sold. As a result of costs incurred in completing the disposition and the de-recognition of net assets of the reporting unit, including the remaining goodwill, the Company recognized a loss on sale of $4.7 million . The results of the SaaS for vacation rentals reporting unit prior to the disposition are included in the Corporate & Other segment in Note 14. The impairment charges and loss on sale do not have an impact on the Company's liquidity or calculation of financial covenants under existing debt arrangements. Goodwill The following table details the changes in the carrying amount of goodwill: September 30, 2019 December 31, 2018 (in thousands) Goodwill $ 173,071 $ 173,477 Accumulated impairment losses (7,578 ) (4,481 ) Disposition (6,296 ) — Net carrying amount $ 159,197 $ 168,996 The following is a summary of changes by segment in the carrying amount of goodwill: December 31, 2018 Acquisitions Foreign Exchange Impairment Disposition September 30, 2019 Hotel Franchising $ 159,197 $ — $ — $ — $ — $ 159,197 Corporate & Other 9,799 — (406 ) (3,097 ) (6,296 ) — Total $ 168,996 $ — $ (406 ) $ (3,097 ) $ (6,296 ) $ 159,197

Investments in Unconsolidated E

Investments in Unconsolidated Entities	9 Months Ended
	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Investments in Unconsolidated Entities	Investments in Unconsolidated Entities The Company maintains a portfolio of investments owned through noncontrolling interests in equity method investments with one or more partners. The Company has equity method investments in joint ventures that represent VIEs totaling $64.8 million and $103.0 million on the consolidated balance sheets at September 30, 2019 and December 31, 2018 , respectively. These investments relate to the Company's program to offer equity support to qualified franchisees to develop and operate Cambria Hotels in strategic markets. Based on an analysis of who has the power to direct the activities that most significantly impact these entities performance and who has an obligation to absorb losses of these entities or a right to receive benefits from these entities that could potentially be significant to the entity, the Company determined that it is not the primary beneficiary of any of these VIEs. The Company based its qualitative analysis on its review of the design of the entity, its organizational structure including decision-making ability and the relevant development, operating management and financial agreements. Although the Company is not the primary beneficiary of these VIEs, it does exercise significant influence through its equity ownership and as a result the Company's investment in these entities is accounted for under the equity method. For the three months ended September 30, 2019 and 2018 , the Company recognized losses totaling $6.9 million and $1.1 million , respectively, from these investments. For the nine months ended September 30, 2019 and 2018 , the Company recognized losses totaling $10.9 million and $7.6 million , respectively, from these investments. The Company's maximum exposure to losses related to its investments in VIEs is limited to its equity investments as well as certain limited payment guaranties described in Note 15 of these financial statements. Prior to July 23, 2019 , the Company held a 40% ownership interest of a joint venture that owned five Cambria Hotels. The joint venture represented a VIE with an investment in unconsolidated entities of $40.0 million . On July 23, 2019, the Company redeemed the remaining 60% ownership interest in four of the hotels and sold its 40% ownership interest in the fifth hotel. Following the redemption, the Company consolidated the operations of the four acquired hotels, and recognized a $6.0 million loss on the sale of the fifth hotel which is recorded in equity in net loss (income) of affiliates. Refer to Note 18 for additional information regarding the acquisitions.

Leases

Leases	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Leases	Leases Lessee The Company determines if an arrangement is a lease and classification as operating or financing at lease inception. Operating leases are included in operating lease ROU assets, accrued expenses and other current liabilities, and operating lease liabilities on our consolidated balance sheets. The Company does not have any leases classified as financing. Operating lease ROU assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. Operating lease ROU assets are further offset by any prepaid rent, lease incentives and initial direct costs incurred. When a lease agreement does not provide an implicit rate, the Company utilizes its incremental borrowing rate based on the information available at commencement date in determining the present value of future minimum lease payments. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. Variable lease payments include certain index-based changes in rent, certain nonlease components (such as maintenance and other services provided by the lessor), and other charges included in the lease. Variable lease payments are excluded from future minimum lease payments and expensed as incurred. The Company elected the practical expedient to not separate lease and non-lease components for all classes of underlying assets in which it is the lessee and made a policy election to not account for leases with an initial term of 12 months or less on the balance sheet. These short-term leases are expensed on a straight-line basis over the lease term. The Company has operating leases primarily for office space, buildings, and equipment. Our leases have remaining lease terms of one month to five years , some of which may include options to extend leases for up to fifteen years and some which may include options to terminate the leases within one year . The Company's lease costs were as follows: Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 (in thousands) Operating lease cost $ 2,319 $ 7,360 Sublease income — (84 ) Total lease cost $ 2,319 $ 7,276 Leases recorded on the consolidated balance sheet consist of the following: September 30, 2019 (in thousands) Assets: Operating lease right-of-use assets $ 26,251 Liabilities: Current operating lease liabilities 10,349 Long-term operating lease liabilities 23,768 Total lease liabilities $ 34,117 Other information related to the Company's lease arrangements is as follows: Nine Months Ended September 30, 2019 (in thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 9,523 ROU assets obtained in exchange for lease liabilities in non-cash transactions: Operating lease assets obtained in exchange for operating lease liabilities $ 3,518 Weighted-average remaining lease term 3.29 Weighted-average discount rate (1) 3.59 % (1) Discount rates used for existing operating leases upon adoption of Topic 842 were established based on remaining lease term as of January 1, 2019. Maturities of lease liabilities are as follows: As of September 30, 2019 (in thousands) 2019 (remaining 3 months) $ 2,852 2020 11,330 2021 10,261 2022 8,548 2023 3,321 Thereafter 2 Total minimum lease payments $ 36,314 Less imputed interest 2,197 Present value of minimum lease payments $ 34,117 During the nine months ended September 30, 2019 , the Company entered into a sale and leaseback transaction in which we sold an office building for a gain of $2.0 million within the Marketing and reservation system line item on the consolidated statements of income and entered into a lease with the option to terminate after 2019. This lease is included in the tables above. The Company adopted Topic 842 on January 1, 2019 using the optional transition method to present comparative periods prior to adoption date in accordance with Topic 840, including disclosure. The following table discloses future minimum lease payments in accordance with Topic 840: As of December 31, 2018 (in thousands) 2019 (net of minimum sublease rentals of $124) $ 12,509 2020 10,638 2021 9,258 2022 8,866 2023 3,514 Thereafter — Total $ 44,785 In the third quarter of 2019, we entered into two office lease agreements with unrelated third-parties that we expect to account for as operating leases. These leases are not reflected in our consolidated balance sheets or in the table above as the leases have not commenced. A lease with an approximately 3-year term is expected to commence in the first quarter of 2020 and a lease with an approximately 10-year term is expected to commence in the third quarter of 2021. Lessor The Company leases to third-party tenants (i) an office building to a third-party tenant with a remaining lease term of less than two years and (ii) a restaurant space within an operating hotel with a remaining lease term of less than ten years. Income for the two leases comprises of fixed and fixed escalating lease payments, respectively, of $0.3 million and $0.8 million for the three and nine months ended September 30, 2019 , respectively. Neither lease contains an option to purchase the underlying assets. The Company elected to not separate lease and nonlease components. Related Party The Company and family members of the Company's largest shareholder entered into an agreement that allows those family members to lease the Company aircraft from time to time for their personal use. The agreement provides for lease payments that contribute towards the fixed costs associated with the aircraft as well as reimbursement of the Company’s variable costs associated with operation of the aircraft, in compliance with, and to the extent authorized by, applicable regulatory requirements. The terms of the lease agreements are consistent with the terms of lease agreements that the Company has entered into with unrelated third parties for use of the aircraft. The Company received nothing pursuant to this arrangement during the three months ended September 30, 2019 . During the nine months ended September 30, 2019 , the Company received $12 thousand pursuant to this arrangement. In December 2013 , the Company's board of directors approved an arrangement between the Company and an entity controlled by the family members of the Company's largest shareholder to sublease approximately 2,200 square feet of office space located in Chevy Chase, Maryland. In May 2016, the sublease was amended for the expansion of the office space. The sublease was not renewed following April 2019. The sublease had a month-to-month term, with a 90 -day notice period and annual lease payments totaling approximately $0.1 million . During the three months ended September 30, 2019 , the Company received nothing pursuant to this arrangement. During the nine months ended September 30, 2019 , the Company received approximately $49 thousand , in rent payments associated with this lease.
Leases	Leases Lessee The Company determines if an arrangement is a lease and classification as operating or financing at lease inception. Operating leases are included in operating lease ROU assets, accrued expenses and other current liabilities, and operating lease liabilities on our consolidated balance sheets. The Company does not have any leases classified as financing. Operating lease ROU assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. Operating lease ROU assets are further offset by any prepaid rent, lease incentives and initial direct costs incurred. When a lease agreement does not provide an implicit rate, the Company utilizes its incremental borrowing rate based on the information available at commencement date in determining the present value of future minimum lease payments. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. Variable lease payments include certain index-based changes in rent, certain nonlease components (such as maintenance and other services provided by the lessor), and other charges included in the lease. Variable lease payments are excluded from future minimum lease payments and expensed as incurred. The Company elected the practical expedient to not separate lease and non-lease components for all classes of underlying assets in which it is the lessee and made a policy election to not account for leases with an initial term of 12 months or less on the balance sheet. These short-term leases are expensed on a straight-line basis over the lease term. The Company has operating leases primarily for office space, buildings, and equipment. Our leases have remaining lease terms of one month to five years , some of which may include options to extend leases for up to fifteen years and some which may include options to terminate the leases within one year . The Company's lease costs were as follows: Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 (in thousands) Operating lease cost $ 2,319 $ 7,360 Sublease income — (84 ) Total lease cost $ 2,319 $ 7,276 Leases recorded on the consolidated balance sheet consist of the following: September 30, 2019 (in thousands) Assets: Operating lease right-of-use assets $ 26,251 Liabilities: Current operating lease liabilities 10,349 Long-term operating lease liabilities 23,768 Total lease liabilities $ 34,117 Other information related to the Company's lease arrangements is as follows: Nine Months Ended September 30, 2019 (in thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 9,523 ROU assets obtained in exchange for lease liabilities in non-cash transactions: Operating lease assets obtained in exchange for operating lease liabilities $ 3,518 Weighted-average remaining lease term 3.29 Weighted-average discount rate (1) 3.59 % (1) Discount rates used for existing operating leases upon adoption of Topic 842 were established based on remaining lease term as of January 1, 2019. Maturities of lease liabilities are as follows: As of September 30, 2019 (in thousands) 2019 (remaining 3 months) $ 2,852 2020 11,330 2021 10,261 2022 8,548 2023 3,321 Thereafter 2 Total minimum lease payments $ 36,314 Less imputed interest 2,197 Present value of minimum lease payments $ 34,117 During the nine months ended September 30, 2019 , the Company entered into a sale and leaseback transaction in which we sold an office building for a gain of $2.0 million within the Marketing and reservation system line item on the consolidated statements of income and entered into a lease with the option to terminate after 2019. This lease is included in the tables above. The Company adopted Topic 842 on January 1, 2019 using the optional transition method to present comparative periods prior to adoption date in accordance with Topic 840, including disclosure. The following table discloses future minimum lease payments in accordance with Topic 840: As of December 31, 2018 (in thousands) 2019 (net of minimum sublease rentals of $124) $ 12,509 2020 10,638 2021 9,258 2022 8,866 2023 3,514 Thereafter — Total $ 44,785 In the third quarter of 2019, we entered into two office lease agreements with unrelated third-parties that we expect to account for as operating leases. These leases are not reflected in our consolidated balance sheets or in the table above as the leases have not commenced. A lease with an approximately 3-year term is expected to commence in the first quarter of 2020 and a lease with an approximately 10-year term is expected to commence in the third quarter of 2021. Lessor The Company leases to third-party tenants (i) an office building to a third-party tenant with a remaining lease term of less than two years and (ii) a restaurant space within an operating hotel with a remaining lease term of less than ten years. Income for the two leases comprises of fixed and fixed escalating lease payments, respectively, of $0.3 million and $0.8 million for the three and nine months ended September 30, 2019 , respectively. Neither lease contains an option to purchase the underlying assets. The Company elected to not separate lease and nonlease components. Related Party The Company and family members of the Company's largest shareholder entered into an agreement that allows those family members to lease the Company aircraft from time to time for their personal use. The agreement provides for lease payments that contribute towards the fixed costs associated with the aircraft as well as reimbursement of the Company’s variable costs associated with operation of the aircraft, in compliance with, and to the extent authorized by, applicable regulatory requirements. The terms of the lease agreements are consistent with the terms of lease agreements that the Company has entered into with unrelated third parties for use of the aircraft. The Company received nothing pursuant to this arrangement during the three months ended September 30, 2019 . During the nine months ended September 30, 2019 , the Company received $12 thousand pursuant to this arrangement. In December 2013 , the Company's board of directors approved an arrangement between the Company and an entity controlled by the family members of the Company's largest shareholder to sublease approximately 2,200 square feet of office space located in Chevy Chase, Maryland. In May 2016, the sublease was amended for the expansion of the office space. The sublease was not renewed following April 2019. The sublease had a month-to-month term, with a 90 -day notice period and annual lease payments totaling approximately $0.1 million . During the three months ended September 30, 2019 , the Company received nothing pursuant to this arrangement. During the nine months ended September 30, 2019 , the Company received approximately $49 thousand , in rent payments associated with this lease.

Debt

Debt	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Debt	Debt Debt consists of the following: September 30, 2019 December 31, 2018 (in thousands) $400 million senior unsecured notes with an effective interest rate of 6.0% less deferred issuance costs of $2.5 million and $3.2 million at September 30, 2019 and December 31, 2018, respectively $ 397,455 $ 396,844 $250 million senior unsecured notes with an effective interest rate of 6.19% less a discount and deferred issuance costs of $0.3 million and $0.5 million at September 30, 2019 and December 31, 2018, respectively 249,719 249,489 $600 million senior unsecured credit facility with an effective interest rate of 3.07%, less deferred issuance costs of $2.8 million and $3.0 million at September 30, 2019 and December 31, 2018, respectively 185,564 87,582 Construction loan with an effective interest rate of 6.4%, less deferred issuance costs of $0.7 million and $0.9 million at September 30, 2019 and December 31, 2018, respectively 31,510 7,652 Fixed rate collateralized mortgage with an effective interest rate of 4.57%, plus a fair value adjustment of $0.2 million and $0.4 million at September 30, 2019 and December 31, 2018, respectively 7,686 8,197 Economic development loans with an effective interest rate of 3.0% at September 30, 2019 and December 31, 2018, respectively 4,416 4,240 Other notes payable — 607 Total debt $ 876,350 $ 754,611 Less current portion 507 1,097 Total long-term debt $ 875,843 $ 753,514 On July 2, 2019 , the Company exercised a one-year extension option on the senior unsecured credit facility, extending the maturity date from August 20, 2023 to August 20, 2024 . The Company's $250 million senior unsecured notes due August 28, 2020 have been classified as a long-term liability at September 30, 2019, since the Company has the ability to repay these obligations upon maturity by utilizing the available capacity of its $600 million senior unsecured credit facility. For additional information regarding the senior unsecured credit facility and other debt, see the "Debt" caption under the "Liquidity and Capital Resources" section in Management's Discussion and Analysis of Financial Condition and Results of Operations.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	9 Months Ended
	Sep. 30, 2019
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss The following represents the changes in accumulated other comprehensive loss, net of tax, by component for the nine months ended September 30, 2019 and 2018 : Loss on Cash Flow Hedge Foreign Currency Items Total (in thousands) Beginning balance, December 31, 2018 $ (1,436 ) $ (4,010 ) $ (5,446 ) Other comprehensive loss before reclassification — (883 ) (883 ) Amounts reclassified from accumulated other comprehensive loss 646 — 646 Net current period other comprehensive income (loss) 646 (883 ) (237 ) Ending balance, September 30, 2019 $ (790 ) $ (4,893 ) $ (5,683 ) Loss on Cash Flow Hedge Foreign Currency Items Total (in thousands) Beginning balance, December 31, 2017 $ (2,298 ) $ (2,401 ) $ (4,699 ) Other comprehensive loss before reclassification — (1,264 ) (1,264 ) Amounts reclassified from accumulated other comprehensive loss 646 — 646 Net current period other comprehensive income (loss) 646 (1,264 ) (618 ) Ending balance, September 30, 2018 $ (1,652 ) $ (3,665 ) $ (5,317 ) The amounts below were reclassified from accumulated other comprehensive loss to the following line items in the Company's Consolidated Statements of Income during the three and nine months ended September 30, 2019 . There is no income tax expense or benefit attributable to the components below. Component Amount Reclassified from Accumulated Other Comprehensive Loss Affected Line Item in the Consolidated Statements of Income Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 Loss on cash flow hedge: (in thousands) Interest rate contract $ 215 $ 646 Interest expense

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The Company estimates the fair value of its financial instruments utilizing a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. The following summarizes the three levels of inputs, as well as the assets that the Company values using those levels of inputs. Level 1 : Quoted prices in active markets for identical assets and liabilities. The Company’s Level 1 assets consist of marketable securities (primarily mutual funds) held in the Company's Deferred Compensation Plan. Level 2 : Observable inputs, other than quoted prices in active markets for identical assets and liabilities, such as quoted prices for similar assets and liabilities; quoted prices in markets that are not active; or other inputs that are observable. The Company’s Level 2 assets consist of money market funds held in the Company's Deferred Compensation Plan and those recorded in cash and cash equivalents. Level 3 : Unobservable inputs, supported by little or no market data available, where the reporting entity is required to develop its own assumptions to determine the fair value of the instrument. The Company does not currently have any assets whose fair value was determined using Level 3 inputs. The Company's policy is to recognize transfers in and transfers out of the three levels of the fair value hierarchy as of the end of each quarterly reporting period. There were no transfers between Level 1, 2 and 3 assets during the three and nine months ended September 30, 2019 . As of September 30, 2019 and December 31, 2018 , the Company had the following assets measured at fair value on a recurring basis: Fair Value Measurements at Reporting Date Using Total Level 1 Level 2 Level 3 Assets (in thousands) As of September 30, 2019 Mutual funds (1) $ 22,952 $ 22,952 $ — $ — Money market funds (1) 2,108 — 2,108 — $ 25,060 $ 22,952 $ 2,108 $ — As of December 31, 2018 Mutual funds (1) $ 19,378 $ 19,378 $ — $ — Money market funds (1) 1,923 — 1,923 — $ 21,301 $ 19,378 $ 1,923 $ — (1) Included in Investments, employee benefit plans at fair value and Other current assets on the consolidated balance sheets. Other Financial Instruments The Company believes that the fair value of its current assets and current liabilities approximate their reported carrying amounts due to the short-term nature of these items. In addition, the interest rates of the Company's senior unsecured credit facility adjust frequently based on current market rates; accordingly its carrying amount approximates fair value. The Company estimates the fair value of notes receivable, which approximate their carrying value, utilizing an analysis of future cash flows and credit worthiness for similar types of arrangements. Based upon the availability of market data, the notes receivable have been classified as Level 3 inputs. The primary sensitivity in these calculations is based on the selection of appropriate interest and discount rates. For further information on the notes receivable, refer to Note 4. The fair values of the Company's $250 million and $400 million Senior Notes are classified as Level 2, as the significant inputs are observable in an active market. At September 30, 2019 and December 31, 2018 , the $250 million Senior Notes had an approximate fair value of $257.4 million and $257.0 million , respectively. At September 30, 2019 and December 31, 2018 , the $400 million Senior Notes had an approximate fair value of $431.9 million and $415.7 million , respectively. Fair value estimates are made at a specific point in time, are subjective in nature and involve uncertainties and matters of significant judgment. Settlement of such fair value amounts may not be possible and may not be a prudent management decision.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The effective income tax rates were 11.3% and 21.9% for the three months ended September 30, 2019 and 2018 , respectively. The effective income tax rates were 16.6% and 20.6% for the nine months ended September 30, 2019 and 2018 , respectively. The effective income tax rate for the three and nine months ended September 30, 2019 was lower than the U.S. federal income tax rate of 21.0% due to tax credits recognized in the third quarter of 2019 of $12.2 million , excess tax benefits from share-based compensation of $0.3 million and $3.3 million , respectively, and the impact of foreign operations, partially offset by state income taxes. The effective income tax rate for the three months ended September 30, 2018 was slightly higher than the U.S. federal income tax rate of 21.0% primarily due to an unfavorable $1.0 million adjustment to the Staff Accounting Bulletin ("SAB 118") deferred tax asset impairment estimate for the enactment-date effects of the Tax Cuts and Jobs Act (the "Tax Act") and the impact of state income taxes, partially offset by excess tax benefits from share-based compensation of $0.5 million , a favorable $0.2 million adjustment to the SAB 118 transition tax estimate for the Tax Act, and the impact of foreign operations. The effective income tax rate for the nine months ended September 30, 2018 was lower than the U.S. federal income tax rate of 21.0% due to excess tax benefits from share-based compensation of $4.0 million , a favorable $0.2 million adjustment to the SAB 118 transition tax estimate for the Tax Act, and the impact of foreign operations, partially offset by an unfavorable $1.0 million adjustment to our SAB 118 deferred tax asset impairment estimate for the Tax Act and the impact of state income taxes.

Share-Based Compensation and Ca

Share-Based Compensation and Capital Stock	9 Months Ended
	Sep. 30, 2019
Share-based Payment Arrangement [Abstract]
Share-Based Compensation and Capital Stock	Share-Based Compensation and Capital Stock The components of the Company’s pretax share-based compensation expense and associated income tax benefits are as follows for the three and nine months ended September 30, 2019 and 2018 : Three Months Ended September 30, Nine Months Ended September 30, (In millions) 2019 2018 2019 2018 Stock options $ 0.6 $ 0.6 $ 1.7 $ 1.9 Restricted stock 2.0 1.7 6.1 5.0 Performance vested restricted stock units 1.5 1.4 4.0 4.0 Total $ 4.1 $ 3.7 $ 11.8 $ 10.9 Income tax benefits $ 1.0 $ 0.9 $ 2.8 $ 2.6 A summary of stock-based award activity as of September 30, 2019 and changes during the nine months ended are presented below: Stock Options Restricted Stock Performance Vested Restricted Stock Units Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term Shares Weighted Average Grant Date Fair Value Shares Weighted Average Grant Date Fair Value Outstanding at January 1, 2019 1,186,180 $ 54.13 303,765 $ 65.06 336,820 $ 63.28 Granted 141,827 81.15 165,469 81.84 83,934 81.15 Performance-Based Leveraging (1) — — — — 1,583 51.49 Exercised/Vested (390,215 ) 47.46 (108,523 ) 61.34 (73,242 ) 50.69 Expired — — — — — — Forfeited (3,493 ) 51.49 (22,409 ) 71.32 (12,038 ) 74.18 Outstanding at September 30, 2019 934,299 $ 61.03 3.7 years 338,302 $ 74.04 337,057 $ 70.02 Options exercisable at September 30, 2019 570,165 $ 54.74 2.7 years (1) PVRSU units outstanding have been increased by 1,583 units due to the Company exceeding the targeted performance conditions contained in PVRSUs granted in prior periods. The stock options granted by the Company had an exercise price equal to the market price of the Company's common stock on the date of grant. The fair value of the options granted was estimated on the grant date using the Black-Scholes option-pricing model with the following weighted average assumptions: 2019 Grants Risk-free interest rate 2.46 % Expected volatility 21.49 % Expected life of stock option 4.4 years Dividend yield 1.06 % Requisite service period 4 years Contractual life 7 years Weighted average fair value of options granted (per option) $ 15.84 Restricted stock awards generally vest ratably over the service period beginning with the first anniversary of the grant date. Vesting service period of shares granted during the nine months ended September 30, 2019 range from 12 to 48 months . The Company has granted PVRSUs to certain employees. The vesting of these stock awards is contingent upon the Company achieving performance targets over a 36 to 48 month requisite service period and the employees' continued employment. The performance conditions affect the number of shares that will ultimately vest and can range between 0% and 200% of the shares granted. Share Repurchases and Redemptions The Company purchased 22,034 and 498,917 shares of common stock under the share repurchase program at a total cost of $1.9 million and $39.1 million during the three and nine months ended September 30, 2019 , respectively. During the three and nine months ended September 30, 2019 , the Company redeemed 4,661 and 71,030 shares of common stock at a total cost of approximately $0.4 million and $5.7 million , respectively, from employees to satisfy the option exercise price and statutory minimum tax-withholding requirements related to the exercising of stock options and vesting of performance vested restricted stock units and restricted stock grants. These redemptions were outside the share repurchase program.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The computation of basic and diluted earnings per common share is as follows: Three Months Ended Nine Months Ended September 30, September 30, (In thousands, except per share amounts) 2019 2018 2019 2018 Computation of Basic Earnings Per Share: Numerator: Net income $ 76,239 $ 79,959 $ 180,709 $ 184,884 Income allocated to participating securities (463 ) (447 ) (1,104 ) (1,081 ) Net income available to common shareholders $ 75,776 $ 79,512 $ 179,605 $ 183,803 Denominator: Weighted average common shares outstanding – basic 55,366 56,025 55,346 56,283 Basic earnings per share $ 1.37 $ 1.42 $ 3.25 $ 3.27 Computation of Diluted Earnings Per Share: Numerator: Net income $ 76,239 $ 79,959 $ 180,709 $ 184,884 Income allocated to participating securities (461 ) (444 ) (1,100 ) (1,073 ) Net income available to common shareholders $ 75,778 $ 79,515 $ 179,609 $ 183,811 Denominator: Weighted average common shares outstanding – basic 55,366 56,025 55,346 56,283 Diluted effect of stock options and PVRSUs 260 405 269 505 Weighted average common shares outstanding – diluted 55,626 56,430 55,615 56,788 Diluted earnings per share $ 1.36 $ 1.41 $ 3.23 $ 3.24 The Company's unvested restricted shares contain rights to receive nonforfeitable dividends, and thus are participating securities requiring the two-class method of computing earnings per share ("EPS"). The calculation of EPS for common stock shown above excludes the income attributable to the unvested restricted share awards from the numerator and excludes the dilutive impact of those awards from the denominator. At September 30, 2019 and 2018 , the Company had 0.9 million and 1.2 million outstanding stock options, respectively. Stock options are included in the diluted EPS calculation using the treasury stock method and average market prices during the period, unless the stock options would be anti-dilutive. For the three months ended September 30, 2019 , no anti-dilutive stock options were excluded from the diluted EPS calculation. For the nine months ended September 30, 2019 , 0.2 million anti-dilutive stock options were excluded from the diluted EPS calculation. For the three and nine months ended September 30, 2018 , 0.1 million anti-dilutive stock options were excluded from the diluted EPS calculation. PVRSUs are also included in the diluted EPS calculation when the performance conditions have been met at the reporting date. However, at September 30, 2019 and 2018 , PVRSUs totaling 314,795 and 318,215 , respectively, were excluded from the computation since the performance conditions had not been met.

Reportable Segment Information

Reportable Segment Information	9 Months Ended
	Sep. 30, 2019
Segment Reporting [Abstract]
Reportable Segment Information	Reportable Segment Information Hotel Franchising: Hotel Franchising includes the Company's hotel franchising operations consisting of its thirteen brands. The thirteen brands are aggregated within this segment considering their similar economic characteristics, types of customers, distribution channels and regulatory business environments. Revenues from the hotel franchising business include royalty fees, initial franchise and relicensing fees, marketing and reservation system fees, procurement services revenue and other hotel franchising related revenue. The Company is obligated under its hotel franchise agreements to provide marketing and reservation services appropriate for the operation of its systems. These services do not represent separate reportable segments as their operations are directly related to the Company's hotel franchising business. The revenues received from franchisees that are used to pay for part of the Company's ongoing operations are included in hotel franchising revenues and are offset by the related expenses paid for marketing and reservation activities to calculate hotel franchising operating income. The Company evaluates its hotel franchising segment based primarily on the results of the segment without allocating corporate expenses, income taxes or indirect general and administrative expenses, which are included in the Corporate & Other column. Corporate & Other revenues include owned hotel revenues and rental income related to an office building owned by the Company, as well as revenues related to the Company's vacation rental activities and its SaaS technology solutions divisions which provide cloud-based property management software to non-franchised hoteliers and vacation rental management companies. Equity in earnings or losses from hotel franchising related joint ventures is allocated to the Company's hotel franchising segment. The Company does not allocate interest expense, interest income, other gains and losses or income taxes to its segments. Intersegment revenue and operating income (loss) adjustments are from the elimination of Hotel Franchising revenue which include royalty and marketing and reservation system fees charged to our owned hotels against franchise fee expense recognized by our owned hotels in Corporate & Other operating income (loss). The following table presents the financial information for the Company's segments: Three Months Ended September 30, 2019 (In thousands) Hotel Corporate & Intersegment Eliminations Consolidated Revenues $ 301,280 $ 10,209 $ (757 ) $ 310,732 Operating income (loss) $ 116,227 $ (13,807 ) $ — $ 102,420 Income (loss) before income taxes $ 109,828 $ (23,904 ) $ — $ 85,924 Three Months Ended September 30, 2018 (In thousands) Hotel Corporate & Intersegment Eliminations Consolidated Revenues $ 287,813 $ 3,677 $ — $ 291,490 Operating income (loss) $ 126,025 $ (14,857 ) $ — $ 111,168 Income (loss) before income taxes $ 126,068 $ (23,625 ) $ — $ 102,443 Nine Months Ended September 30, 2019 (In thousands) Hotel Corporate & Intersegment Eliminations Consolidated Revenues $ 829,901 $ 17,592 $ (757 ) $ 846,736 Operating income (loss) $ 306,020 $ (56,013 ) $ — $ 250,007 Income (loss) before income taxes $ 296,469 $ (79,912 ) $ — $ 216,557 Nine Months Ended September 30, 2018 (In thousands) Hotel Corporate & Intersegment Eliminations Consolidated Revenues $ 785,621 $ 10,704 $ — $ 796,325 Operating income (loss) $ 308,048 $ (41,615 ) $ — $ 266,433 Income (loss) before income taxes $ 302,690 $ (69,762 ) $ — $ 232,928

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies The Company is not a party to any litigation other than litigation in the ordinary course of business. The Company's management and legal counsel do not expect that the ultimate outcome of any of its currently ongoing legal proceedings, individually or collectively, will have a material adverse effect on the Company's financial position, results of operations or cash flows. Contingencies The Company entered into various limited payment guaranties with regards to the Company’s VIEs supporting the VIE’s efforts to develop and own hotels franchised under the Company’s brands. Under these limited payment guaranties, the Company has agreed to guarantee a portion of the outstanding debt until certain conditions are met such as (a) the loan matures, (b) certain debt covenants are achieved, (c) the maximum amount guaranteed by the Company is paid in full or (d) the Company, through its affiliates, ceases to be a member of the VIE. The maximum exposure of principal incidental to these limited payment guaranties is $7.5 million , plus unpaid expenses and accrued unpaid interest. The Company believes the likelihood of having to perform under the aforementioned limited payment guaranties was remote as of September 30, 2019 and December 31, 2018 . In the event of performance, the Company has recourse for two of the transactions in the form of a membership interest pledge as collateral for the guaranty. In a prior year, the Company transferred $24.4 million of a $50.1 million outstanding note receivable with a maturity date of November 30, 2019 to a third party. Under the agreement, the counter party had the right to require the Company to purchase the outstanding interest in the note in certain circumstances, including if the Company declares a default against the borrower and enters into foreclosure proceedings. In February 2019, in connection with the Company's restructuring negotiations with the borrower, the Company mutually agreed with the counter party to repurchase the $24.4 million previously transferred prior to the maturity date. The Company retains the full loan balance as recorded in Notes receivable, net of allowances as of September 30, 2019 . Commitments The Company has the following commitments outstanding at September 30, 2019 : • The Company provides financing in the form of franchise agreement acquisition payments to franchisees for property improvements, hotel development efforts and other purposes. At September 30, 2019 , the Company had commitments to extend an additional $256.6 million for these purposes provided certain conditions are met by its franchisees. • The Company committed to make additional capital contributions totaling $10.1 million to existing unconsolidated joint ventures related to the construction of various hotels to be operated under the Company's Cambria Hotels brand. • The Company committed to provide financing in the form of mezzanine loans or credit facilities to franchisees for Choice brand development efforts. The Company has committed to provide an aggregate of approximately $34.4 million , upon certain conditions being met. As of September 30, 2019 , $10.0 million have been disbursed. • In March 2018, the Company entered into a construction loan agreement for the rehabilitation and development of a former office building into a hotel through a consolidated joint venture with a commercial lender, which is secured by the building. The construction loan can be drawn up to $34.9 million . The Company has a carve-out guaranty and the unaffiliated joint venture partner has a completion guaranty in relation to the loan, in which both parties are required to meet certain financial covenants relating to liquidity and net worth. The rehabilitation of the building is considered a qualified asset in which requires a significant amount of time to prepare for its intended use. Therefore, any interest costs incurred during the development period of the building is considered an element of the historical cost of the qualifying asset. At September 30, 2019 , the Company has borrowed $32.2 million of the construction loan and recorded $0.9 million of capitalized interest costs. The construction was completed and the hotel opened in the third quarter of 2019, resulting in the satisfaction of the completion guaranty. Additionally, the Company purchased the remaining interest of the unaffiliated joint venture partner in the third quarter of 2019. • The Company’s franchise agreements require the payment of franchise fees, which include marketing and reservation system fees. In accordance with terms of our franchise agreements, the Company is obligated to use the marketing and reservation system revenues it collects from the current franchisees comprising its various hotel brands to provide marketing and reservation services appropriate to support the operation of the overall system. To the extent revenues collected exceed expenditures incurred, the Company has a commitment to the franchisee system to make expenditures in future years. Conversely, to the extent expenditures incurred exceed revenues collected, the Company has the contractual enforceable right to assess and collect such amounts. In the ordinary course of business, the Company enters into numerous agreements that contain standard indemnities whereby the Company indemnifies another party for breaches of representations and warranties. Such indemnifications are granted under various agreements, including those governing (i) purchases or sales of assets or businesses, (ii) leases of real estate, (iii) licensing of trademarks, (iv) access to credit facilities, (v) issuances of debt or equity securities, and (vi) certain operating agreements. The indemnifications issued are for the benefit of the (i) buyers in sale agreements and sellers in purchase agreements, (ii) landlords in lease contracts, (iii) franchisees in licensing agreements, (iv) financial institutions in credit facility arrangements, (v) underwriters in debt or equity security issuances and (vi) parties under certain operating agreements. In addition, these parties are also generally indemnified against any third party claim resulting from the transaction that is contemplated in the underlying agreement. While some of these indemnities extend only for the duration of the underlying agreement, many survive the expiration of the term of the agreement or extend into perpetuity (unless subject to a legal statute of limitations). There are no specific limitations on the maximum potential amount of future payments that the Company could be required to make under these indemnities, nor is the Company able to develop an estimate of the maximum potential amount of future payments to be made under these indemnifications as the triggering events are not subject to predictability. With respect to certain of the aforementioned indemnities, such as indemnifications of landlords against third party claims for the use of real estate property leased by the Company, the Company maintains insurance coverage that mitigates potential liability.

Transactions with Unconsolidate

Transactions with Unconsolidated Joint Ventures	9 Months Ended
	Sep. 30, 2019
Equity Method Investments and Joint Ventures [Abstract]
Transactions with Unconsolidated Joint Ventures	Transactions with Unconsolidated Joint Ventures The Company has a management fee arrangement for marketing services with a joint venture partner. For the three and nine months ended September 30, 2019 , fees earned and payroll costs reimbursed under this arrangement totaled $0.8 million and $1.7 million , respectively. For the three and nine months ended September 30, 2018 , fees earned and payroll costs reimbursed under this arrangement totaled $0.6 million and $1.4 million , respectively. The Company has entered into franchise agreements with certain of the unconsolidated joint ventures discussed in Note 6. Pursuant to these franchise agreements, for the three months ended September 30, 2019 and 2018 , the Company recorded royalty and marketing reservation system fees of approximately $7.4 million and $7.3 million , respectively. For the nine months ended September 30, 2019 and 2018 , the Company recorded royalty and marketing reservation system fees of approximately $19.0 million and $18.2 million , respectively. The Company recorded $1.6 million and $1.1 million as a receivable due from these joint ventures as of September 30, 2019 and December 31, 2018 , respectively. In addition, the Company paid commissions of $80 thousand and $65 thousand for the three months ended September 30, 2019 and 2018 , respectively, and $0.2 million and $0.2 million for the nine months ended September 30, 2019 and 2018 , respectively, to an on-line travel agent for which the Company is a joint venture member.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2019
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Effective October 15, 1997 , Choice Hotels International, Inc., which at that time included both a franchising business and an owned hotel business, separated the businesses via a spin-off into two companies: Sunburst Hospitality Corporation (“Sunburst”) and the Company. Subsequent to the spin-off, the Company’s largest shareholder retained significant ownership percentages in both Sunburst and the Company. As part of the spin-off, Sunburst and the Company entered into a strategic alliance agreement (as amended, the "Strategic Alliance Agreement"). Among other things, the Strategic Alliance Agreement provided for revised royalty and system fees and the determination of liquidated damages related to the termination of Choice branded Sunburst properties. The liquidated damage provisions extend through the life of the existing Sunburst franchise agreements. On June 5, 2019 , the Strategic Alliance Agreement was terminated and replaced with addenda to each of the five hotels under franchise. The addenda preserve certain terms from the Strategic Alliance Agreement with respect to the five hotels, including the revised royalty and system fee and liquidated damage provisions, which would also apply to new franchise agreements signed for the five hotels (as either a renewal or a change to another Choice brand not contemplated at the time of original agreement execution). No terms were substantially modified with respect to the five operating hotels under franchise. On June 5, 2019 and June 27, 2019, the Company and Sunburst entered into master development agreements which provide Sunburst geographic exclusivity in two specified regions for development of six WoodSpring branded hotels. No new franchise agreements have been signed between the Company and Sunburst during the nine months ended September 30, 2019 . As of September 30, 2019 , Sunburst operated five hotels under franchise with the Company.

Acquisitions

Acquisitions	9 Months Ended
	Sep. 30, 2019
Business Combinations [Abstract]
Acquisitions	Acquisitions Prior to July 23, 2019 , the Company held a 40% ownership interest of a joint venture that owned five Cambria Hotels recorded as an investment in unconsolidated entities. On July 23, 2019 , the Company redeemed the remaining 60% ownership interest in four of the hotels for approximately $169.0 million cash paid (inclusive of $0.7 million in capitalized transaction costs), net of cash acquired. The transaction was funded with cash and borrowings under the Company's revolving credit facility. In accordance with the provisions of ASU 2017-01 Business Combinations (Topic 805): Clarifying the Definition of a Business , the purchase represents an asset acquisition based on the concentration of value in the acquired land and buildings. This assessment was performed on the four hotels as a group of similar identifiable assets based on the similar risk characteristics as operating Cambria Hotels. The $25.0 million previously in investments in unconsolidated entities is included in the total net asset basis of $194.0 million . The total net asset basis was attributed to each asset and asset class based on a relative fair value allocation to qualifying assets, resulting in $21.7 million to land, $148.4 million to building and improvements, $27.0 million to furniture, fixtures, and equipment, $0.8 million to an in-place lease intangible asset, and $3.9 million to net liabilities assumed.

Basis of Presentation and Sig_2

Basis of Presentation and Significant Accounting Policies (Policy)	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Basis of Accounting	Basis of Presentation The accompanying unaudited consolidated financial statements of Choice Hotels International, Inc. and its subsidiaries (together the "Company") have been prepared by the Company in accordance with United States of America generally accepted accounting principles ("GAAP") pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC"). These unaudited consolidated financial statements include all adjustments that are necessary, in the opinion of management, to fairly present the Company's financial position and results of operations. Except as otherwise disclosed, all adjustments are of a normal recurring nature. Certain information and footnote disclosures normally included in financial statements presented in accordance with GAAP have been omitted. The Company believes the disclosures made are adequate to make the information presented not misleading. The consolidated financial statements should be read in conjunction with the consolidated financial statements for the year ended December 31, 2018 and notes thereto included in the Company’s Annual Report on Form 10-K, filed with the SEC on February 26, 2019 . Interim results are not necessarily indicative of the entire year results. All inter-company transactions and balances between Choice Hotels International, Inc. and its subsidiaries have been eliminated in consolidation. The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Recently Adopted Accounting Standards and Recently Issued Accounting Standards	Recently Adopted Accounting Standards In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) and issued subsequent amendments to the initial guidance at various points thereafter (collectively referred to as "Topic 842"). Topic 842 requires a lessee to recognize operating leases on its balance sheet by recording liabilities for its lease obligations and assets for its right-of-use ("ROU") of the underlying assets as of the lease commencement dates. This differs from prior treatment of operating leases in accordance with ASC 840, Leases (Topic 840) ("Topic 840"), as operating leases were not captured on a lessee's consolidated balance sheet. Topic 842 prescribes that entities should recognize expenses on their consolidated statements of income in a manner similar to Topic 840 whereby minimum lease payments are recognized on a straight-line basis over a lease term. The Company elected to apply the package of practical expedients that allows entities to forego reassessing at the transition date: (i) whether expired or existing contracts are or contain leases; (ii) lease classification for any expired or existing leases; and (iii) whether initial direct costs for existing leases qualify for capitalization. Topic 842 allows entities an optional transitional method to apply the transition requirements at the effective date, rather than at the beginning of the earliest comparative period. An entity’s reporting for the comparative periods presented in the year of adoption continues to be in accordance with Topic 840, including the disclosure requirements of Topic 840. The Company adopted Topic 842 on January 1, 2019 using this optional transition method and therefore, the financial results reported in periods prior to January 1, 2019 are unchanged. Adoption of the standard during the first quarter of 2019 resulted in the recording of operating lease ROU assets of $28.0 million and operating lease liabilities of $38.5 million as of March 31, 2019 . Topic 842 did not have an impact on our consolidated statements of income. Refer to Note 7. Recently Issued Accounting Standards In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326) and issued subsequent amendments to the initial guidance at various points thereafter ("Topic 326"), which will require the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Topic 326 requires enhanced disclosures, including qualitative and quantitative requirements, to provide insight to significant estimates and judgments used in estimating credit losses and the amounts recorded in the financial statements. The guidance is effective for annual reporting periods beginning after December 15, 2019 and interim periods within those fiscal years. Topic 326 requires the use of the modified retrospective approach for adoption. The Company is currently assessing the potential impact that Topic 326 will have on its consolidated balance sheets, statements of income, and disclosures, including the processes to evaluate allowances for trade and notes receivables. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement ("ASU 2018-13"). ASU 2018-13 modifies disclosure requirements on fair value measurements. The guidance is effective for annual reporting periods beginning after December 15, 2019 and interim periods within those fiscal years. Early adoption is permitted. The Company is currently assessing the potential impact that ASU 2018-13 will have on the consolidated financial statement disclosures. In August 2018, the FASB issued ASU 2018-15, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40) : Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract ("ASU 2018-15"). ASU 2018-15 aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). The guidance is effective for annual reporting periods beginning after December 15, 2019 and interim periods within those fiscal years. Early adoption is permitted. The Company is currently assessing the potential impact that ASU 2018-15 will have on the consolidated financial statements and disclosures.

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Sep. 30, 2019
Revenue from Contract with Customer [Abstract]
Contract with Customer, Liability	Significant changes in the contract liabilities balances during the period December 31, 2018 to September 30, 2019 are as follows: (in thousands) Balance as of December 31, 2018 $ 153,180 Increases to the contract liability balance due to cash received 74,221 Revenue recognized in the period (61,971 ) Balance as of September 30, 2019 $ 165,430
Disaggregation of Revenue	Three Months Ended Three Months Ended September 30, 2019 September 30, 2018 Over time Point in time Total Over time Point in time Total Revenues: (in thousands) (in thousands) Royalty fees $ 113,688 $ — $ 113,688 $ 111,009 $ — $ 111,009 Initial franchise and relicensing fees 6,741 — 6,741 6,262 — 6,262 Procurement services 14,084 730 14,814 10,949 671 11,620 Marketing and reservation system 146,263 10,761 157,024 139,577 12,790 152,367 Owned hotels 7,460 1,201 8,661 — — — Other 9,494 — 9,494 9,769 122 9,891 Total Topic 606 revenues $ 297,730 $ 12,692 310,422 $ 277,566 $ 13,583 291,149 Non-Topic 606 revenues 310 341 $ 310,732 $ 291,490 Nine Months Ended Nine Months Ended September 30, 2019 September 30, 2018 Over time Point in time Total Over time Point in time Total Revenues: (in thousands) (in thousands) Royalty fees $ 300,468 $ — $ 300,468 $ 290,926 $ — $ 290,926 Initial franchise and relicensing fees 20,223 — 20,223 18,957 — 18,957 Procurement services 45,219 2,371 47,590 37,433 1,958 39,391 Marketing and reservation system 380,544 59,009 439,553 371,321 45,394 416,715 Owned hotels 7,460 1,201 8,661 — — — Other 29,249 141 29,390 28,313 979 29,292 Total Topic 606 revenues $ 783,163 $ 62,722 845,885 $ 746,950 $ 48,331 795,281 Non-Topic 606 revenues 851 1,044 $ 846,736 $ 796,325

Other Current Assets (Tables)

Other Current Assets (Tables)	9 Months Ended
	Sep. 30, 2019
Assets, Current [Abstract]
Schedule Of Other Current Assets	Other current assets consist of the following: September 30, 2019 December 31, 2018 (in thousands) Prepaid expenses $ 20,324 $ 18,412 Other current assets 2,906 6,831 Land held for sale — 7,000 Total $ 23,230 $ 32,243

Notes Receivable and Allowanc_2

Notes Receivable and Allowance for Losses (Tables)	9 Months Ended
	Sep. 30, 2019
Notes Receivable and Allowance for Losses [Line Items]
Schedule Of Notes Receivable	The following table shows the composition of the Company's notes receivable balances: September 30, 2019 December 31, 2018 Credit Quality Indicator (in thousands) Senior $ 94,492 $ 94,349 Subordinated 29,697 28,100 Unsecured 2,503 2,435 Total notes receivable 126,692 124,884 Allowance for losses on receivables specifically evaluated for impairment 4,426 4,426 Allowance for losses on non-impaired loans 259 259 Total loan reserves 4,685 4,685 Net carrying value $ 122,007 $ 120,199 Current portion, net $ 29,012 $ 36,759 Long-term portion, net 92,995 83,440 Total $ 122,007 $ 120,199
Mezzanine & Other Notes Receivable
Notes Receivable and Allowance for Losses [Line Items]
Past Due Balances Of Notes Receivable	Past due balances of notes receivable by credit quality indicators are as follows: 30-89 days Past Due > 90 days Past Due Total Past Due Current Total Notes Receivable As of September 30, 2019 (in thousands) Senior $ — $ — $ — $ 94,492 $ 94,492 Subordinated — — — 29,697 29,697 Unsecured — — — 2,503 2,503 $ — $ — $ — $ 126,692 $ 126,692 As of December 31, 2018 Senior $ — $ — $ — $ 94,349 $ 94,349 Subordinated — — — 28,100 28,100 Unsecured — — — 2,435 2,435 $ — $ — $ — $ 124,884 $ 124,884

Loss on Sale of Business and _2

Loss on Sale of Business and Impairment of Assets (Tables)	9 Months Ended
	Sep. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The following table details the changes in the carrying amount of goodwill: September 30, 2019 December 31, 2018 (in thousands) Goodwill $ 173,071 $ 173,477 Accumulated impairment losses (7,578 ) (4,481 ) Disposition (6,296 ) — Net carrying amount $ 159,197 $ 168,996 The following is a summary of changes by segment in the carrying amount of goodwill: December 31, 2018 Acquisitions Foreign Exchange Impairment Disposition September 30, 2019 Hotel Franchising $ 159,197 $ — $ — $ — $ — $ 159,197 Corporate & Other 9,799 — (406 ) (3,097 ) (6,296 ) — Total $ 168,996 $ — $ (406 ) $ (3,097 ) $ (6,296 ) $ 159,197

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Lease, Cost	Other information related to the Company's lease arrangements is as follows: Nine Months Ended September 30, 2019 (in thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 9,523 ROU assets obtained in exchange for lease liabilities in non-cash transactions: Operating lease assets obtained in exchange for operating lease liabilities $ 3,518 Weighted-average remaining lease term 3.29 Weighted-average discount rate (1) 3.59 % (1) Discount rates used for existing operating leases upon adoption of Topic 842 were established based on remaining lease term as of January 1, 2019. The Company's lease costs were as follows: Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 (in thousands) Operating lease cost $ 2,319 $ 7,360 Sublease income — (84 ) Total lease cost $ 2,319 $ 7,276
Lessee, Operating Leases, Balance Sheet	Leases recorded on the consolidated balance sheet consist of the following: September 30, 2019 (in thousands) Assets: Operating lease right-of-use assets $ 26,251 Liabilities: Current operating lease liabilities 10,349 Long-term operating lease liabilities 23,768 Total lease liabilities $ 34,117
Lessee, Operating Lease, Liability, Maturity	Maturities of lease liabilities are as follows: As of September 30, 2019 (in thousands) 2019 (remaining 3 months) $ 2,852 2020 11,330 2021 10,261 2022 8,548 2023 3,321 Thereafter 2 Total minimum lease payments $ 36,314 Less imputed interest 2,197 Present value of minimum lease payments $ 34,117
Schedule of Future Minimum Rental Payments for Operating Leases	The following table discloses future minimum lease payments in accordance with Topic 840: As of December 31, 2018 (in thousands) 2019 (net of minimum sublease rentals of $124) $ 12,509 2020 10,638 2021 9,258 2022 8,866 2023 3,514 Thereafter — Total $ 44,785

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Schedule Of Components Of Debt	Debt consists of the following: September 30, 2019 December 31, 2018 (in thousands) $400 million senior unsecured notes with an effective interest rate of 6.0% less deferred issuance costs of $2.5 million and $3.2 million at September 30, 2019 and December 31, 2018, respectively $ 397,455 $ 396,844 $250 million senior unsecured notes with an effective interest rate of 6.19% less a discount and deferred issuance costs of $0.3 million and $0.5 million at September 30, 2019 and December 31, 2018, respectively 249,719 249,489 $600 million senior unsecured credit facility with an effective interest rate of 3.07%, less deferred issuance costs of $2.8 million and $3.0 million at September 30, 2019 and December 31, 2018, respectively 185,564 87,582 Construction loan with an effective interest rate of 6.4%, less deferred issuance costs of $0.7 million and $0.9 million at September 30, 2019 and December 31, 2018, respectively 31,510 7,652 Fixed rate collateralized mortgage with an effective interest rate of 4.57%, plus a fair value adjustment of $0.2 million and $0.4 million at September 30, 2019 and December 31, 2018, respectively 7,686 8,197 Economic development loans with an effective interest rate of 3.0% at September 30, 2019 and December 31, 2018, respectively 4,416 4,240 Other notes payable — 607 Total debt $ 876,350 $ 754,611 Less current portion 507 1,097 Total long-term debt $ 875,843 $ 753,514

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Sep. 30, 2019
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Changes in Accumulated Other Comprehensive Loss	The following represents the changes in accumulated other comprehensive loss, net of tax, by component for the nine months ended September 30, 2019 and 2018 : Loss on Cash Flow Hedge Foreign Currency Items Total (in thousands) Beginning balance, December 31, 2018 $ (1,436 ) $ (4,010 ) $ (5,446 ) Other comprehensive loss before reclassification — (883 ) (883 ) Amounts reclassified from accumulated other comprehensive loss 646 — 646 Net current period other comprehensive income (loss) 646 (883 ) (237 ) Ending balance, September 30, 2019 $ (790 ) $ (4,893 ) $ (5,683 ) Loss on Cash Flow Hedge Foreign Currency Items Total (in thousands) Beginning balance, December 31, 2017 $ (2,298 ) $ (2,401 ) $ (4,699 ) Other comprehensive loss before reclassification — (1,264 ) (1,264 ) Amounts reclassified from accumulated other comprehensive loss 646 — 646 Net current period other comprehensive income (loss) 646 (1,264 ) (618 ) Ending balance, September 30, 2018 $ (1,652 ) $ (3,665 ) $ (5,317 )
Reclassifications From Accumulated Other Comprehensive Income (Loss)	The amounts below were reclassified from accumulated other comprehensive loss to the following line items in the Company's Consolidated Statements of Income during the three and nine months ended September 30, 2019 . There is no income tax expense or benefit attributable to the components below. Component Amount Reclassified from Accumulated Other Comprehensive Loss Affected Line Item in the Consolidated Statements of Income Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 Loss on cash flow hedge: (in thousands) Interest rate contract $ 215 $ 646 Interest expense

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Schedule Of Fair Value Of Assets	As of September 30, 2019 and December 31, 2018 , the Company had the following assets measured at fair value on a recurring basis: Fair Value Measurements at Reporting Date Using Total Level 1 Level 2 Level 3 Assets (in thousands) As of September 30, 2019 Mutual funds (1) $ 22,952 $ 22,952 $ — $ — Money market funds (1) 2,108 — 2,108 — $ 25,060 $ 22,952 $ 2,108 $ — As of December 31, 2018 Mutual funds (1) $ 19,378 $ 19,378 $ — $ — Money market funds (1) 1,923 — 1,923 — $ 21,301 $ 19,378 $ 1,923 $ — (1) Included in Investments, employee benefit plans at fair value and Other current assets on the consolidated balance sheets.

Share-Based Compensation and _2

Share-Based Compensation and Capital Stock (Tables)	9 Months Ended
	Sep. 30, 2019
Share-based Payment Arrangement [Abstract]
Pre-Tax Stock-Based Compensation Expenses And Associated Income Tax Benefits	The components of the Company’s pretax share-based compensation expense and associated income tax benefits are as follows for the three and nine months ended September 30, 2019 and 2018 : Three Months Ended September 30, Nine Months Ended September 30, (In millions) 2019 2018 2019 2018 Stock options $ 0.6 $ 0.6 $ 1.7 $ 1.9 Restricted stock 2.0 1.7 6.1 5.0 Performance vested restricted stock units 1.5 1.4 4.0 4.0 Total $ 4.1 $ 3.7 $ 11.8 $ 10.9 Income tax benefits $ 1.0 $ 0.9 $ 2.8 $ 2.6
Summary Of Change In Stock-Based Award Activity	A summary of stock-based award activity as of September 30, 2019 and changes during the nine months ended are presented below: Stock Options Restricted Stock Performance Vested Restricted Stock Units Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term Shares Weighted Average Grant Date Fair Value Shares Weighted Average Grant Date Fair Value Outstanding at January 1, 2019 1,186,180 $ 54.13 303,765 $ 65.06 336,820 $ 63.28 Granted 141,827 81.15 165,469 81.84 83,934 81.15 Performance-Based Leveraging (1) — — — — 1,583 51.49 Exercised/Vested (390,215 ) 47.46 (108,523 ) 61.34 (73,242 ) 50.69 Expired — — — — — — Forfeited (3,493 ) 51.49 (22,409 ) 71.32 (12,038 ) 74.18 Outstanding at September 30, 2019 934,299 $ 61.03 3.7 years 338,302 $ 74.04 337,057 $ 70.02 Options exercisable at September 30, 2019 570,165 $ 54.74 2.7 years (1) PVRSU units outstanding have been increased by 1,583 units due to the Company exceeding the targeted performance conditions contained in PVRSUs granted in prior periods.
Weighted Average Assumptions Of Black-Scholes Option-Pricing Model	The fair value of the options granted was estimated on the grant date using the Black-Scholes option-pricing model with the following weighted average assumptions: 2019 Grants Risk-free interest rate 2.46 % Expected volatility 21.49 % Expected life of stock option 4.4 years Dividend yield 1.06 % Requisite service period 4 years Contractual life 7 years Weighted average fair value of options granted (per option) $ 15.84

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Computation Of Basic And Diluted Earnings Per Common Share	The computation of basic and diluted earnings per common share is as follows: Three Months Ended Nine Months Ended September 30, September 30, (In thousands, except per share amounts) 2019 2018 2019 2018 Computation of Basic Earnings Per Share: Numerator: Net income $ 76,239 $ 79,959 $ 180,709 $ 184,884 Income allocated to participating securities (463 ) (447 ) (1,104 ) (1,081 ) Net income available to common shareholders $ 75,776 $ 79,512 $ 179,605 $ 183,803 Denominator: Weighted average common shares outstanding – basic 55,366 56,025 55,346 56,283 Basic earnings per share $ 1.37 $ 1.42 $ 3.25 $ 3.27 Computation of Diluted Earnings Per Share: Numerator: Net income $ 76,239 $ 79,959 $ 180,709 $ 184,884 Income allocated to participating securities (461 ) (444 ) (1,100 ) (1,073 ) Net income available to common shareholders $ 75,778 $ 79,515 $ 179,609 $ 183,811 Denominator: Weighted average common shares outstanding – basic 55,366 56,025 55,346 56,283 Diluted effect of stock options and PVRSUs 260 405 269 505 Weighted average common shares outstanding – diluted 55,626 56,430 55,615 56,788 Diluted earnings per share $ 1.36 $ 1.41 $ 3.23 $ 3.24

Reportable Segment Information

Reportable Segment Information (Tables)	9 Months Ended
	Sep. 30, 2019
Segment Reporting [Abstract]
Schedule Of Financial Information For Company's Franchising Segment	The following table presents the financial information for the Company's segments: Three Months Ended September 30, 2019 (In thousands) Hotel Corporate & Intersegment Eliminations Consolidated Revenues $ 301,280 $ 10,209 $ (757 ) $ 310,732 Operating income (loss) $ 116,227 $ (13,807 ) $ — $ 102,420 Income (loss) before income taxes $ 109,828 $ (23,904 ) $ — $ 85,924 Three Months Ended September 30, 2018 (In thousands) Hotel Corporate & Intersegment Eliminations Consolidated Revenues $ 287,813 $ 3,677 $ — $ 291,490 Operating income (loss) $ 126,025 $ (14,857 ) $ — $ 111,168 Income (loss) before income taxes $ 126,068 $ (23,625 ) $ — $ 102,443 Nine Months Ended September 30, 2019 (In thousands) Hotel Corporate & Intersegment Eliminations Consolidated Revenues $ 829,901 $ 17,592 $ (757 ) $ 846,736 Operating income (loss) $ 306,020 $ (56,013 ) $ — $ 250,007 Income (loss) before income taxes $ 296,469 $ (79,912 ) $ — $ 216,557 Nine Months Ended September 30, 2018 (In thousands) Hotel Corporate & Intersegment Eliminations Consolidated Revenues $ 785,621 $ 10,704 $ — $ 796,325 Operating income (loss) $ 308,048 $ (41,615 ) $ — $ 266,433 Income (loss) before income taxes $ 302,690 $ (69,762 ) $ — $ 232,928

Basis of Presentation and Sig_3

Basis of Presentation and Significant Accounting Policies (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Mar. 31, 2019	Dec. 31, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease right-of-use assets	$ 26,251		$ 0
Operating lease liabilities	$ 34,117
Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease right-of-use assets		$ 28,000
Operating lease liabilities		$ 38,500

Revenue - Textual (Details)

Revenue - Textual (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Disaggregation of Revenue [Line Items]
Redemption of loyalty points period			36 months
Revenue, remaining performance obligation	$ 165,400		$ 165,400
Revenues	(310,422)	$ (291,149)	(845,885)	$ (795,281)
Royalty fees
Disaggregation of Revenue [Line Items]
Revenues	(113,688)	(111,009)	(300,468)	(290,926)
Corporate & Other
Disaggregation of Revenue [Line Items]
Revenues	(10,200)	$ (3,700)	$ (17,600)	$ (10,700)
Intersegment Eliminations | Royalty fees
Disaggregation of Revenue [Line Items]
Revenues	$ (800)
Minimum
Disaggregation of Revenue [Line Items]
Deferred revenue, recognition period			5 years
Maximum
Disaggregation of Revenue [Line Items]
Deferred revenue, recognition period			10 years

Revenue - Contract Liability (D

Revenue - Contract Liability (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2019USD ($)
Changes in Contract Liability [Roll Forward]
Contract with customer, liability, beginning	$ 153,180
Increases to the contract liability balance due to cash received	74,221
Revenue recognized in the period	(61,971)
Contract with customer, liability, ending	$ 165,430

Revenue - Disaggregation of Rev

Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenues	$ 310,422	$ 291,149	$ 845,885	$ 795,281
Non-Topic 606 revenues	310	341	851	1,044
Total revenues	310,732	291,490	846,736	796,325
Over time
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenues	297,730	277,566	783,163	746,950
Point in time
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenues	12,692	13,583	62,722	48,331
Royalty fees
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenues	113,688	111,009	300,468	290,926
Royalty fees | Over time
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenues	113,688	111,009	300,468	290,926
Royalty fees | Point in time
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenues	0	0	0	0
Initial franchise and relicensing fees
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenues	6,741	6,262	20,223	18,957
Initial franchise and relicensing fees | Over time
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenues	6,741	6,262	20,223	18,957
Initial franchise and relicensing fees | Point in time
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenues	0	0	0	0
Procurement services
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenues	14,814	11,620	47,590	39,391
Procurement services | Over time
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenues	14,084	10,949	45,219	37,433
Procurement services | Point in time
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenues	730	671	2,371	1,958
Marketing and reservation system
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenues	157,024	152,367	439,553	416,715
Marketing and reservation system | Over time
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenues	146,263	139,577	380,544	371,321
Marketing and reservation system | Point in time
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenues	10,761	12,790	59,009	45,394
Owned hotels
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenues	8,661	0	8,661	0
Total revenues	8,710	0	8,710	0
Owned hotels | Over time
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenues	7,460	0	7,460	0
Owned hotels | Point in time
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenues	1,201	0	1,201	0
Other
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenues	9,494	9,891	29,390	29,292
Total revenues	9,755	10,232	30,192	30,336
Other | Over time
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenues	9,494	9,769	29,249	28,313
Other | Point in time
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenues	$ 0	$ 122	$ 141	$ 979

Other Current Assets - Schedule

Other Current Assets - Schedule of Other Current Assets (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019USD ($)parcelofland	Sep. 30, 2018USD ($)	Sep. 30, 2019USD ($)parcelofland	Sep. 30, 2018USD ($)	Dec. 31, 2018USD ($)
Property, Plant and Equipment [Line Items]
Prepaid expenses	$ 20,324		$ 20,324		$ 18,412
Other current assets	2,906		2,906		6,831
Land held for sale	0		0		7,000
Total	$ 23,230		$ 23,230		32,243
Parcels of land, sold | parcelofland	1,000,000		1,000,000
Property, plant and equipment, book value	$ 347,343		$ 347,343		$ 127,535
Gain on sale of assets, net	0	$ 0	100	$ 82
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment, book value	$ 7,000		7,000
Gain on sale of assets, net			$ 100

Notes Receivable and Allowanc_3

Notes Receivable and Allowance for Losses - Schedule Of Notes Receivable (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Notes Receivable and Allowance for Losses [Line Items]
Notes receivable	$ 126,692	$ 124,884
Allowance for losses on receivables specifically evaluated for impairment	4,426	4,426
Allowance for losses on non-impaired loans	259	259
Total loan reserves	4,685	4,685
Net carrying value	122,007	120,199
Current portion, net	29,012	36,759
Long-term portion, net	92,995	83,440
Senior
Notes Receivable and Allowance for Losses [Line Items]
Notes receivable	94,492	94,349
Subordinated
Notes Receivable and Allowance for Losses [Line Items]
Notes receivable	29,697	28,100
Unsecured
Notes Receivable and Allowance for Losses [Line Items]
Notes receivable	$ 2,503	$ 2,435

Notes Receivable and Allowanc_4

Notes Receivable and Allowance for Losses - Narrative (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Notes Receivable and Allowance for Losses [Line Items]
Loan reserves	$ 4,685		$ 4,685
Mezzanine & Other Notes Receivable
Notes Receivable and Allowance for Losses [Line Items]
Impaired financing receivable, unpaid principal balance	51,800		51,800
Mezzanine & Other Notes Receivable | Impaired Loans
Notes Receivable and Allowance for Losses [Line Items]
Impaired receivables, recorded investment	52,000		52,100
Impaired receivables, related allowance	4,400		4,400
Average notes receivable, nonaccrual status	1,700	$ 1,800
Interest income, impaired loans	2,200	$ 43
Mezzanine & Other Notes Receivable | Non-impaired Loans
Notes Receivable and Allowance for Losses [Line Items]
Loan reserves	300		300
Variable Interest Entity, Not Primary Beneficiary | Mezzanine & Other Notes Receivable
Notes Receivable and Allowance for Losses [Line Items]
Loans and financing receivable	116,200		114,300
Interest Rate Below Market Reduction | Variable Interest Entity, Not Primary Beneficiary | Mezzanine & Other Notes Receivable
Notes Receivable and Allowance for Losses [Line Items]
Loans and financing receivable	13,800		12,900
Receivable with Imputed Interest, discount	$ 1,200		$ 1,500

Notes Receivable and Allowanc_5

Notes Receivable and Allowance for Losses - Past Due Balances Of Mezzanine And Other Notes Receivable (Details) - Mezzanine & Other Notes Receivable - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Notes Receivable and Allowance for Losses [Line Items]
Total Past Due	$ 0	$ 0
Current	126,692	124,884
Total Notes Receivable	126,692	124,884
Senior
Notes Receivable and Allowance for Losses [Line Items]
Total Past Due	0	0
Current	94,492	94,349
Total Notes Receivable	94,492	94,349
Subordinated
Notes Receivable and Allowance for Losses [Line Items]
Total Past Due	0	0
Current	29,697	28,100
Total Notes Receivable	29,697	28,100
Unsecured
Notes Receivable and Allowance for Losses [Line Items]
Total Past Due	0	0
Current	2,503	2,435
Total Notes Receivable	2,503	2,435
Financing Receivables, 30 to 89 Days Past Due
Notes Receivable and Allowance for Losses [Line Items]
Total Past Due	0	0
Financing Receivables, 30 to 89 Days Past Due | Senior
Notes Receivable and Allowance for Losses [Line Items]
Total Past Due	0	0
Financing Receivables, 30 to 89 Days Past Due | Subordinated
Notes Receivable and Allowance for Losses [Line Items]
Total Past Due	0	0
Financing Receivables, 30 to 89 Days Past Due | Unsecured
Notes Receivable and Allowance for Losses [Line Items]
Total Past Due	0	0
Financing Receivables, Equal to Greater than 90 Days Past Due
Notes Receivable and Allowance for Losses [Line Items]
Total Past Due	0	0
Financing Receivables, Equal to Greater than 90 Days Past Due | Senior
Notes Receivable and Allowance for Losses [Line Items]
Total Past Due	0	0
Financing Receivables, Equal to Greater than 90 Days Past Due | Subordinated
Notes Receivable and Allowance for Losses [Line Items]
Total Past Due	0	0
Financing Receivables, Equal to Greater than 90 Days Past Due | Unsecured
Notes Receivable and Allowance for Losses [Line Items]
Total Past Due	$ 0	$ 0

Loss on Sale of Business and _3

Loss on Sale of Business and Impairment of Assets (Details) - USD ($) $ in Thousands	Jun. 03, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Goodwill [Line Items]
Impairment of goodwill		$ 0			$ 0	$ 3,097	$ 0
Loss on sale of business		25			0	4,666	0
Long-lived asset		1,374,262				1,374,262		$ 1,138,370
Impairment of long-lived assets		(33)			$ 0	7,271	$ 0
Goodwill		159,197				159,197		$ 168,996
SaaS for Vacation Rentals
Goodwill [Line Items]
Impairment of long lived assets				$ 7,300
Impairment of goodwill				3,100		3,100
Loss on sale of business	$ 4,700		$ 4,700
Impairment of long-lived assets						7,300
Goodwill				$ 6,400
Intangible Assets | SaaS for Vacation Rentals
Goodwill [Line Items]
Long-lived asset		4,300				4,300
Operating Lease Right-of-use Asset | SaaS for Vacation Rentals
Goodwill [Line Items]
Long-lived asset		1,700				1,700
Property, Plant and Equipment | SaaS for Vacation Rentals
Goodwill [Line Items]
Long-lived asset		$ 1,300				$ 1,300

Loss on Sale of Business and _4

Loss on Sale of Business and Impairment of Assets - Goodwill (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 173,071	$ 173,477
Accumulated impairment losses	(7,578)	(4,481)
Disposition	(6,296)	0
Net carrying amount	$ 159,197	$ 168,996

Loss on Sale of Business and _5

Loss on Sale of Business and Impairment of Assets - Changes in Goodwill (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Goodwill [Roll Forward]
Goodwill. Beginning Balance			$ 168,996
Acquisitions			0
Foreign Exchange			(406)
Impairment	$ 0	$ 0	(3,097)	$ 0
Disposition	(6,296)		(6,296)		$ 0
Goodwill, Ending Balance	159,197		159,197
Hotel Franchising
Goodwill [Roll Forward]
Goodwill. Beginning Balance			159,197
Acquisitions			0
Foreign Exchange			0
Impairment			0
Disposition	0		0
Goodwill, Ending Balance	159,197		159,197
Corporate & Other
Goodwill [Roll Forward]
Goodwill. Beginning Balance			9,799
Acquisitions			0
Foreign Exchange			(406)
Impairment			(3,097)
Disposition	(6,296)		(6,296)
Goodwill, Ending Balance	$ 0		$ 0

Investments in Unconsolidated_2

Investments in Unconsolidated Entities (Details) $ in Thousands	Jul. 23, 2019USD ($)hotel	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)	Jul. 22, 2019USD ($)hotel	Dec. 31, 2018USD ($)
Business Acquisition [Line Items]
Investments in joint ventures included in unconsolidated entities		$ 64,800		$ 64,800			$ 103,000
Loss attributable to variable interest entities		6,900	$ 1,100	10,900	$ 7,600
Asset acquisition, percentage of interest						40.00%
Investments in unconsolidated entities		$ 69,190		$ 69,190			$ 109,016
Asset acquisition, percentage of voting interests sold	40.00%
Cambria Hotel
Business Acquisition [Line Items]
Investments in unconsolidated entities	$ 25,000
Five Hotel Joint Ventures
Business Acquisition [Line Items]
Asset combinations, number of hotel joint ventures | hotel						5
Investments in unconsolidated entities						$ 40,000
Four Hotels Joint Ventures
Business Acquisition [Line Items]
Asset combinations, number of hotel joint ventures | hotel	4
Asset acquisition, percentage of voting interests acquired	60.00%
One Hotels Joint Ventures
Business Acquisition [Line Items]
Loss attributable to variable interest entities	$ (6,000)

Leases (Details)

Leases (Details)	1 Months Ended		3 Months Ended	9 Months Ended
	May 31, 2016USD ($)	Dec. 31, 2013ft²	Sep. 30, 2019USD ($)lease	Sep. 30, 2019USD ($)	Sep. 30, 2021	Mar. 31, 2020
Lessee, Lease, Description [Line Items]
Lessee, operating lease, renewal term			15 years	15 years
Lessee, operating lease, termination period				1 year
Sale and leaseback transaction, gain, net				$ 2,000,000
Lessee, operating lease, number of leases entered into | lease			2
Lessor, operating lease, number of leases | lease			2
Lease income comprised of fixed lease payments			$ 300,000	$ 800,000
Minimum
Lessee, Lease, Description [Line Items]
Lessee, operating lease, remaining lease term				1 month
Maximum
Lessee, Lease, Description [Line Items]
Lessee, operating lease, remaining lease term				5 years
Office building
Lessee, Lease, Description [Line Items]
Lessor, operating lease, remaining lease term			2 years
Owned Hotel
Lessee, Lease, Description [Line Items]
Lessor, operating lease, remaining lease term			10 years
Leased Office Space | Lease Agreements | Family Member(s) of Largest Shareholder
Lessee, Lease, Description [Line Items]
Payments received from related party			$ 0	$ 12,000
Leased square footage | ft²		2,200
Sublease notice period		90 days
Annual lease payments, related party	$ 100,000			$ 49,000
Forecast
Lessee, Lease, Description [Line Items]
Lessee, operating lease, not yet commenced, term of contract					10 years	3 years

Leases - Lease Cost (Details)

Leases - Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2019	Sep. 30, 2019	Dec. 31, 2018
Leases [Abstract]
Operating lease cost	$ 2,319	$ 7,360
Sublease income	0	(84)	$ (124)
Total lease cost	$ 2,319	$ 7,276

Leases - Balance Sheet (Details

Leases - Balance Sheet (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Leases [Abstract]
Operating lease right-of-use assets	$ 26,251	$ 0
Current operating lease liabilities	10,349
Long-term operating lease liabilities	23,768	$ 0
Total lease liabilities	$ 34,117

Leases - Other Information (Det

Leases - Other Information (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2019USD ($)
Leases [Abstract]
Operating cash flows from operating leases	$ 9,523
Operating lease assets obtained in exchange for operating lease liabilities	$ 3,518
Weighted-average remaining lease term	3 years 3 months 14 days
Weighted-average discount rate - operating leases	3.59%

Leases - Lessee Topic 842 Matur

Leases - Lessee Topic 842 Maturity (Details) $ in Thousands	Sep. 30, 2019USD ($)
Leases [Abstract]
2019 (remaining 3 months)	$ 2,852
2020	11,330
2021	10,261
2022	8,548
2023	3,321
Thereafter	2
Total minimum lease payments	36,314
Less imputed interest	2,197
Present value of minimum lease payments	$ 34,117

Leases - Lessee Topic 840 Matur

Leases - Lessee Topic 840 Maturity (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2019	Sep. 30, 2019	Dec. 31, 2018
Leases [Abstract]
2019			$ 12,509
2020			10,638
2021			9,258
2022			8,866
2023			3,514
Thereafter			0
Total			44,785
Sublease Income	$ 0	$ 84	$ 124

Debt - Schedule Of Components O

Debt - Schedule Of Components Of Debt (Details) - USD ($)	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Debt [Line Items]
Less current portion	$ 876,350,000		$ 754,611,000
Less current portion	507,000		1,097,000
Total long-term debt	875,843,000		753,514,000
Senior | $400 Million Senior Notes
Debt [Line Items]
Less current portion	397,455,000		396,844,000
Debt instrument face amount	$ 400,000,000		$ 400,000,000
Debt instrument effective interest rate	6.00%		6.00%
Deferred issuance costs	$ 2,500,000		$ 3,200,000
Senior | $250 Million Senior Notes
Debt [Line Items]
Less current portion	249,719,000		249,489,000
Debt instrument face amount	$ 250,000,000		$ 250,000,000
Debt instrument effective interest rate	6.19%		6.19%
Discount and deferred issuance costs	$ 300,000		$ 500,000
Senior | $600 Million Unsecured Revolving Credit Facility
Debt [Line Items]
Less current portion	185,564,000		87,582,000
Debt instrument face amount	$ 600,000,000		$ 600,000,000
Debt instrument effective interest rate	3.07%		3.07%
Deferred issuance costs	$ 2,800,000		$ 3,000,000
Construction Loans
Debt [Line Items]
Less current portion	$ 31,510,000		$ 7,652,000
Debt instrument effective interest rate	6.40%		6.40%
Deferred issuance costs	$ 700,000		$ 900,000
Collateralized Mortgage
Debt [Line Items]
Less current portion	$ 7,686,000		$ 8,197,000
Debt instrument effective interest rate	4.57%		4.57%
Fair value adjustment	$ 200,000	$ 400,000
Economic Development Loans
Debt [Line Items]
Less current portion	$ 4,416,000		$ 4,240,000
Debt instrument effective interest rate	3.00%		3.00%
Other Notes Payable
Debt [Line Items]
Less current portion	$ 0		$ 607,000

Debt - Narrative (Details)

Debt - Narrative (Details) - Senior - USD ($)	Jul. 02, 2019	Sep. 30, 2019	Dec. 31, 2018
Debt [Line Items]
Debt instrument, extension, term	1 year
$250 Million Senior Notes
Debt [Line Items]
Debt instrument face amount		$ 250,000,000	$ 250,000,000
$600 Million Unsecured Revolving Credit Facility
Debt [Line Items]
Debt instrument face amount		$ 600,000,000	$ 600,000,000

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss - Changes in Accumulated Other Comprehensive Loss, Net of Tax (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Sep. 30, 2019	Sep. 30, 2018
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	$ (122,660)	$ (185,477)	$ (183,772)	$ (203,952)	$ (259,917)	$ (258,601)	$ (183,772)	$ (258,601)
Other comprehensive loss before reclassification							(883)	(1,264)
Amounts reclassified from accumulated other comprehensive loss							646	646
Net current period other comprehensive income (loss)	(9)	(236)	8	(35)	(1,653)	1,070	(237)	(618)
Ending balance	(56,735)	(122,660)	(185,477)	(168,079)	(203,952)	(259,917)	(56,735)	(168,079)
Loss on Cash Flow Hedge
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance			(1,436)			(2,298)	(1,436)	(2,298)
Other comprehensive loss before reclassification							0	0
Amounts reclassified from accumulated other comprehensive loss							646	646
Net current period other comprehensive income (loss)							646	646
Ending balance	(790)			(1,652)			(790)	(1,652)
Foreign Currency Items
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance			(4,010)			(2,401)	(4,010)	(2,401)
Other comprehensive loss before reclassification							(883)	(1,264)
Amounts reclassified from accumulated other comprehensive loss							0	0
Net current period other comprehensive income (loss)							(883)	(1,264)
Ending balance	(4,893)			(3,665)			(4,893)	(3,665)
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(5,674)	(5,438)	(5,446)	(5,282)	(3,629)	(4,699)	(5,446)	(4,699)
Net current period other comprehensive income (loss)	(9)	(236)	8	(35)	(1,653)	1,070
Ending balance	$ (5,683)	$ (5,674)	$ (5,438)	$ (5,317)	$ (5,282)	$ (3,629)	$ (5,683)	$ (5,317)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Loss - Amounts Reclassified from Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019
Interest rate contract | Loss on Cash Flow Hedge | Reclassification out of Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income (Loss) [Line Items]
Interest expense	$ 215	$ 646

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($)	9 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Level 1
Fair Value Measurements [Line Items]
Defined benefit plan, transfers between measurement levels	$ 0
Level 2
Fair Value Measurements [Line Items]
Defined benefit plan, transfers between measurement levels	0
Level 3
Fair Value Measurements [Line Items]
Defined benefit plan, transfers between measurement levels	0
Senior | $250 Million Senior Notes
Fair Value Measurements [Line Items]
Debt instrument face amount	250,000,000	$ 250,000,000
Senior | $250 Million Senior Notes | Level 2
Fair Value Measurements [Line Items]
Debt instrument fair value	257,400,000	257,000,000
Senior | $400 Million Senior Notes
Fair Value Measurements [Line Items]
Debt instrument face amount	400,000,000	400,000,000
Senior | $400 Million Senior Notes | Level 2
Fair Value Measurements [Line Items]
Debt instrument fair value	$ 431,900,000	$ 415,700,000

Fair Value Measurements - Sched

Fair Value Measurements - Schedule Of Fair Value Of Assets (Details) - Fair value, measurements, recurring - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Fair Value Measurements [Line Items]
Assets measured at fair value	$ 25,060	$ 21,301
Mutual Funds | Investments, employee benefit plans, at fair value
Fair Value Measurements [Line Items]
Mutual funds and money market funds, fair value	22,952	19,378
Money market funds | Investments, employee benefit plans, at fair value
Fair Value Measurements [Line Items]
Mutual funds and money market funds, fair value	2,108	1,923
Level 1
Fair Value Measurements [Line Items]
Assets measured at fair value	22,952	19,378
Level 1 | Mutual Funds | Investments, employee benefit plans, at fair value
Fair Value Measurements [Line Items]
Mutual funds and money market funds, fair value	22,952	19,378
Level 1 | Money market funds | Investments, employee benefit plans, at fair value
Fair Value Measurements [Line Items]
Mutual funds and money market funds, fair value	0	0
Level 2
Fair Value Measurements [Line Items]
Assets measured at fair value	2,108	1,923
Level 2 | Mutual Funds | Investments, employee benefit plans, at fair value
Fair Value Measurements [Line Items]
Mutual funds and money market funds, fair value	0	0
Level 2 | Money market funds | Investments, employee benefit plans, at fair value
Fair Value Measurements [Line Items]
Mutual funds and money market funds, fair value	2,108	1,923
Level 3
Fair Value Measurements [Line Items]
Assets measured at fair value	0	0
Level 3 | Mutual Funds | Investments, employee benefit plans, at fair value
Fair Value Measurements [Line Items]
Mutual funds and money market funds, fair value	0	0
Level 3 | Money market funds | Investments, employee benefit plans, at fair value
Fair Value Measurements [Line Items]
Mutual funds and money market funds, fair value	$ 0	$ 0

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Income Tax Disclosure [Abstract]
Effective income tax rate (percent)	11.30%	21.90%	16.60%	20.60%
Tax credits recognized	$ 12.2		$ 12.2
Share-based compensation, excess tax benefit, amount	$ 0.3	$ 0.5	3.3	$ 4
Change in tax rate, favorable adjustment		0.2	0.2
Change in tax rate, unfavorable adjustment		$ 1	$ 1

Share-Based Compensation and _3

Share-Based Compensation and Capital Stock - Pre-Tax Stock-Based Compensation Expenses And Associated Income Tax Benefits (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Share-Based Compensation and Capital Stock [Line Items]
Share-based compensation expense	$ 4.1	$ 3.7	$ 11.8	$ 10.9
Income tax benefits	1	0.9	2.8	2.6
Stock options
Share-Based Compensation and Capital Stock [Line Items]
Share-based compensation expense	0.6	0.6	1.7	1.9
Restricted stock
Share-Based Compensation and Capital Stock [Line Items]
Share-based compensation expense	2	1.7	6.1	5
Performance Vested Restricted Stock Units
Share-Based Compensation and Capital Stock [Line Items]
Share-based compensation expense	$ 1.5	$ 1.4	$ 4	$ 4

Share-Based Compensation and _4

Share-Based Compensation and Capital Stock - Summary of Change in Stock-Based Award Activity (Details)	9 Months Ended
	Sep. 30, 2019$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding, beginning balance (in shares) | shares	1,186,180
Granted (in shares) | shares	141,827
Exercised/Vested (in shares) | shares	(390,215)
Expired (in shares) | shares	0
Forfeited (in shares) | shares	(3,493)
Outstanding, ending balance (in shares) | shares	934,299
Options exercisable, ending balance (in shares) | shares	570,165
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Beginning balance - weighted average exercise price (in dollars per share) | $ / shares	$ 54.13
Granted - Weighted average exercise price (in dollars per share) | $ / shares	81.15
Exercised/Vested - Weighted average exercise price (in dollars per share) | $ / shares	47.46
Expired - Weighted average exercise price (in dollars per share) | $ / shares	0
Forfeited - Weighted average exercise price (in dollars per share) | $ / shares	51.49
Ending balance - weighted average exercise price (in dollars per share) | $ / shares	61.03
Options Exercisable, ending balance - Weighted average exercise price (in dollars per share) | $ / shares	$ 54.74
Share-based Compensation Arrangement by Share-based Payment Award, Options, Weighted Average Remaining Contractual Term [Roll Forward]
Weighted Average Remaining Contractual Term - Outstanding, ending balance	3 years 8 months 12 days
Weighted Average Remaining Contractual Term - Options Exercisable, ending balance	2 years 8 months 12 days
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Performance-Based Leveraging - Weighted average grant date fair value (in dollars per share) | $ / shares	$ 51.49
Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward]
Outstanding, beginning balance (in shares) | shares	303,765
Granted (in shares) | shares	165,469
Exercised/Vested (in shares) | shares	(108,523)
Forfeited (in shares) | shares	(22,409)
Outstanding, ending balance (in shares) | shares	338,302
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Beginning balance - weighted average grant date fair value (in dollars per share) | $ / shares	$ 65.06
Granted - Weighted average grant date fair value (in dollars per share) | $ / shares	81.84
Exercised/Vested - Weighted average grant date fair value (in dollars per share) | $ / shares	61.34
Forfeited - Weighted average grant date fair value (in dollars per share) | $ / shares	71.32
Ending balance - weighted average grant date fair value (in dollars per share) | $ / shares	$ 74.04
Performance Vested Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward]
Outstanding, beginning balance (in shares) | shares	336,820
Granted (in shares) | shares	83,934
Performance-Based Leveraging (in shares) | shares	1,583
Exercised/Vested (in shares) | shares	(73,242)
Forfeited (in shares) | shares	(12,038)
Outstanding, ending balance (in shares) | shares	337,057
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Beginning balance - weighted average grant date fair value (in dollars per share) | $ / shares	$ 63.28
Granted - Weighted average grant date fair value (in dollars per share) | $ / shares	81.15
Exercised/Vested - Weighted average grant date fair value (in dollars per share) | $ / shares	50.69
Forfeited - Weighted average grant date fair value (in dollars per share) | $ / shares	74.18
Ending balance - weighted average grant date fair value (in dollars per share) | $ / shares	$ 70.02

Share-Based Compensation and _5

Share-Based Compensation and Capital Stock - Weighted Average Assumptions Of Black-Scholes Option-Pricing Model (Details) - Stock options	9 Months Ended
	Sep. 30, 2019$ / shares
Share-Based Compensation and Capital Stock [Line Items]
Risk-free interest rate	2.46%
Expected volatility	21.49%
Expected life of stock option	4 years 4 months 24 days
Dividend yield	1.06%
Requisite service period	4 years
Contractual life	7 years
Weighted average fair value of options granted (in dollars per share)	$ 15.84

Share-Based Compensation and _6

Share-Based Compensation and Capital Stock - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019
Share-Based Compensation and Capital Stock [Line Items]
Shares repurchased (in shares)	22,034	498,917
Payments related to tax withholding for share-based compensation	$ 1.9	$ 39.1
Shares redeemed for tax withholding for share based compensation (in shares)	4,661	71,030
Cost of shares repurchased	$ 0.4	$ 5.7
Performance Vested Restricted Stock Units | Minimum
Share-Based Compensation and Capital Stock [Line Items]
Vesting service period of shares granted		36 months
Performance period, percent		0.00%
Performance Vested Restricted Stock Units | Maximum
Share-Based Compensation and Capital Stock [Line Items]
Vesting service period of shares granted		48 months
Performance period, percent		200.00%
Restricted stock | Minimum
Share-Based Compensation and Capital Stock [Line Items]
Performance period, duration		12 months
Restricted stock | Maximum
Share-Based Compensation and Capital Stock [Line Items]
Performance period, duration		48 months

Earnings Per Share - Computatio

Earnings Per Share - Computation Of Basic And Diluted Earnings Per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Sep. 30, 2019	Sep. 30, 2018
Numerator:
Net income	$ 76,239	$ 74,389	$ 30,081	$ 79,959	$ 79,839	$ 25,086	$ 180,709	$ 184,884
Income allocated to participating securities	(463)			(447)			(1,104)	(1,081)
Net income available to common shareholders	$ 75,776			$ 79,512			$ 179,605	$ 183,803
Denominator:
Weighted average common shares outstanding – basic (in shares)	55,366			56,025			55,346	56,283
Basic earnings per share (in dollars per share)	$ 1.37			$ 1.42			$ 3.25	$ 3.27
Numerator:
Income allocated to participating securities	$ (461)			$ (444)			$ (1,100)	$ (1,073)
Net income available to common shareholders	$ 75,778			$ 79,515			$ 179,609	$ 183,811
Denominator:
Weighted average common shares outstanding – basic (in shares)	55,366			56,025			55,346	56,283
Diluted effect of stock options and PVRSUs (in shares)	260			405			269	505
Weighted average common shares outstanding – diluted (in shares)	55,626			56,430			55,615	56,788
Diluted earnings per share (in dollars per share)	$ 1.36			$ 1.41			$ 3.23	$ 3.24

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Outstanding stock options (in shares)	934,299	1,200,000	934,299	1,200,000	1,186,180
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from EPS computation (in shares)	0	100,000	200,000	100,000
Performance Vested Restricted Stock Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
PVRSUs excluded from EPS calculation due to performance conditions not met (in shares)			314,795	318,215

Reportable Segment Informatio_2

Reportable Segment Information - Narrative (Details)	Sep. 30, 2019brand
Segment Reporting [Abstract]
Number of brands	13

Reportable Segment Informatio_3

Reportable Segment Information - Schedule Of Financial Information For Company's Franchising Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Reportable Segment Information [Line Items]
Revenues	$ 310,732	$ 291,490	$ 846,736	$ 796,325
Operating income (loss)	102,420	111,168	250,007	266,433
Income (loss) before income taxes	85,924	102,443	216,557	232,928
Corporate & Other
Reportable Segment Information [Line Items]
Revenues	10,209	3,677	17,592	10,704
Operating income (loss)	(13,807)	(14,857)	(56,013)	(41,615)
Income (loss) before income taxes	(23,904)	(23,625)	(79,912)	(69,762)
Intersegment Eliminations
Reportable Segment Information [Line Items]
Revenues	(757)	0	(757)	0
Operating income (loss)	0	0	0	0
Income (loss) before income taxes	0	0	0	0
Hotel Franchising | Operating Segments
Reportable Segment Information [Line Items]
Revenues	301,280	287,813	829,901	785,621
Operating income (loss)	116,227	126,025	306,020	308,048
Income (loss) before income taxes	$ 109,828	$ 126,068	$ 296,469	$ 302,690

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Thousands	1 Months Ended	9 Months Ended
	Feb. 28, 2019USD ($)	Sep. 30, 2019USD ($)transaction	Sep. 30, 2018USD ($)
Commitments and Contingencies [Line Items]
Limited payment guaranties		$ 7,500
Number of transactions with recourse | transaction		2
Payments to acquire notes receivable		$ 10,767	$ 28,876
Other commitment		34,400
Other commitment, payment		10,000
Construction loan			$ 34,900
Forgivable Notes Receivable
Commitments and Contingencies [Line Items]
Other commitment		256,600
Capital contributions to joint ventures
Commitments and Contingencies [Line Items]
Other commitment		10,100
Construction Loans
Commitments and Contingencies [Line Items]
Interest costs capitalized		900
Senior and Subordinated Tranches
Commitments and Contingencies [Line Items]
Proceeds from sale of notes receivable		24,400
Impaired financing receivable, unpaid principal balance		50,100
Payments to acquire notes receivable	$ 24,400
Construction Loans
Commitments and Contingencies [Line Items]
Other borrowings		$ 32,200

Transactions with Unconsolida_2

Transactions with Unconsolidated Joint Ventures (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Related Party Transaction [Line Items]
Receivables	$ 171,802		$ 171,802		$ 138,018
Joint Venture Partner
Related Party Transaction [Line Items]
Fees earned and payroll costs reimbursed from marketing services arrangement	800	$ 600	1,700	$ 1,400
Member of Unconsolidated Joint Venture
Related Party Transaction [Line Items]
Royalty and marketing and reservation system fees	7,400	7,300	19,000	18,200
Receivables	1,600		1,600		$ 1,100
Commissions paid to travel agent	$ 80	$ 65	$ 200	$ 200

Related Party Transactions (Det

Related Party Transactions (Details)	Sep. 30, 2019hotel	Jul. 05, 2019hotelNumber_of_specified_region	Jun. 27, 2019hotelNumber_of_specified_region	Jun. 05, 2019hotel	Oct. 15, 1997company
Related Party Transaction [Line Items]
Number of companies due to spin-off | company					2
Master Development Agreement
Related Party Transaction [Line Items]
Number of specified regions | Number_of_specified_region		2	2
Master Development Agreement | WoodSpring
Related Party Transaction [Line Items]
Number of development hotels		6	6
Sunburst
Related Party Transaction [Line Items]
Number of hotels operated under agreement	5			5

Acquisitions (Details)

Acquisitions (Details) $ in Thousands	Jul. 23, 2019USD ($)hotel	Sep. 30, 2019USD ($)	Jul. 22, 2019USD ($)hotel	Dec. 31, 2018USD ($)
Business Acquisition [Line Items]
Asset acquisition, percentage of interest			40.00%
Investments in unconsolidated entities		$ 69,190		$ 109,016
Five Hotel Joint Ventures
Business Acquisition [Line Items]
Asset combinations, number of hotel joint ventures | hotel			5
Investments in unconsolidated entities			$ 40,000
Four Hotels Joint Ventures
Business Acquisition [Line Items]
Asset combinations, number of hotel joint ventures | hotel	4
Asset acquisition, percentage of voting interests acquired	60.00%
Asset combination, consideration transferred	$ 169,000
Asset acquisition, capitalized transaction costs	700
Cambria Hotel
Business Acquisition [Line Items]
Asset combination, consideration transferred	194,000
Investments in unconsolidated entities	25,000
Asset acquisition, land	21,700
Asset acquisition, building and improvements	148,400
Asset acquisition, furniture, fixtures, and equipment	27,000
Asset acquisition, in-place lease intangible asset	800
Asset combination, consideration transferred, liabilities incurred	$ 3,900