CHOICE HOTELS INTERNATIONAL INC DE
For the period ended Dec 31, 2023. Filed Feb 20, 2024.
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FY2023 · Filed Feb 20, 2024
CHH$120.23+0.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Income
(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
| Years Ended December 31, | |||
|---|---|---|---|
| 2023 · 2022 · 2021 | |||
| REVENUES | |||
| Royalty, licensing and management fees | $513,412 | $471,759 | $397,218 |
| Initial franchise fees | 27,787 | 28,074 | 26,342 |
| Platform and procurement services fees | 75,114 | 63,800 | 50,393 |
| Owned hotels | 97,641 | 70,826 | 37,833 |
| Other | 46,051 | 64,740 | 28,669 |
| Other revenues from franchised and managed properties | 784,160 | 702,750 | 528,843 |
| Total revenues | 1,544,165 | 1,401,949 | 1,069,298 |
| OPERATING EXPENSES | |||
| Selling, general and administrative | 216,081 | 167,697 | 145,623 |
| Business combination, diligence and transition costs | 55,778 | 39,578 | — |
| Depreciation and amortization | 39,659 | 30,425 | 24,773 |
| Owned hotels | 71,474 | 48,837 | 24,754 |
| Other expenses from franchised and managed properties | 782,409 | 653,060 | 444,946 |
| Total operating expenses | 1,165,401 | 939,597 | 640,096 |
| Impairment of long-lived assets | (3,736) | — | (282) |
| Gain on sale of business and assets, net | — | 16,249 | 13 |
| Operating income | 375,028 | 478,601 | 428,933 |
| OTHER EXPENSES AND INCOME, NET | |||
| Interest expense | 63,780 | 43,797 | 46,680 |
| Interest income | (7,764) | (7,288) | (4,981) |
| Gain on extinguishment of debt | (4,416) | — | — |
| Other (gain) loss | (10,649) | 7,018 | (5,134) |
| Equity in net (gain) loss of affiliates | (2,879) | (1,732) | 15,876 |
| Total other expenses and income, net | 38,072 | 41,795 | 52,441 |
| Income before income taxes | 336,956 | 436,806 | 376,492 |
| Income tax expense | 78,449 | 104,654 | 87,535 |
| Net income | $258,507 | $332,152 | $288,957 |
| Basic earnings per share | $5.11 | $6.05 | $5.20 |
| Diluted earnings per share | $5.07 | $5.99 | $5.15 |
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