2024 Q2 Form 10-Q Financial Statement

#000104631124000022 Filed on May 08, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $435.2M $331.9M
YoY Change 1.81% -0.25%
Cost Of Revenue $205.1M $177.1M
YoY Change -1.04% 5.09%
Gross Profit $230.0M $154.9M
YoY Change 4.49% -5.74%
Gross Profit Margin 52.86% 46.66%
Selling, General & Admin $65.00M $48.63M
YoY Change -4.14% -17.98%
% of Gross Profit 28.25% 31.4%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $10.83M $10.94M
YoY Change 10.34% 9.1%
% of Gross Profit 4.71% 7.06%
Operating Expenses $65.00M $48.63M
YoY Change -4.14% -17.98%
Operating Profit $132.6M $60.15M
YoY Change 6.62% -22.74%
Interest Expense -$13.50M $20.18M
YoY Change -182.96% 43.29%
% of Operating Profit -10.18% 33.55%
Other Income/Expense, Net -$16.04M -$19.94M
YoY Change 35.46% 92.56%
Pretax Income $116.6M $40.21M
YoY Change 3.58% -40.43%
Income Tax $29.45M $9.199M
% Of Pretax Income 25.26% 22.88%
Net Earnings $87.14M $31.01M
YoY Change 2.86% -41.29%
Net Earnings / Revenue 20.02% 9.34%
Basic Earnings Per Share $1.82 $0.63
Diluted Earnings Per Share $1.80 $0.62
COMMON SHARES
Basic Shares Outstanding 48.16M shares 49.56M shares
Diluted Shares Outstanding 48.04M shares 49.64M shares

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $150.9M $42.11M
YoY Change 317.11% 32.93%
Cash & Equivalents $60.41M $42.11M
Short-Term Investments $90.45M
Other Short-Term Assets $30.54M $40.65M
YoY Change -9.7% 8.46%
Inventory
Prepaid Expenses
Receivables $235.4M $225.2M
Other Receivables $31.38M $30.57M
Total Short-Term Assets $448.2M $338.5M
YoY Change 28.73% -0.76%
LONG-TERM ASSETS
Property, Plant & Equipment $541.2M $517.9M
YoY Change 20.45% 19.26%
Goodwill $220.2M $220.2M
YoY Change 0.0% 0.0%
Intangibles $833.0M $821.0M
YoY Change 8.98% 9.44%
Long-Term Investments $125.8M $232.4M
YoY Change 54.91% 241.88%
Other Assets $97.14M $92.70M
YoY Change 11.45% 3.99%
Total Long-Term Assets $2.071B $2.137B
YoY Change 14.9% 21.04%
TOTAL ASSETS
Total Short-Term Assets $448.2M $338.5M
Total Long-Term Assets $2.071B $2.137B
Total Assets $2.519B $2.475B
YoY Change 17.14% 17.51%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $151.1M $135.3M
YoY Change 24.89% 45.27%
Accrued Expenses $96.58M $70.16M
YoY Change -2.24% -11.01%
Deferred Revenue $105.9M $116.0M
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $499.5M
YoY Change -100.0% 11210.48%
Total Short-Term Liabilities $452.1M $919.5M
YoY Change 11.16% 148.8%
LONG-TERM LIABILITIES
Long-Term Debt $1.868B $1.196B
YoY Change 34.97% -13.03%
Other Long-Term Liabilities $7.665M $7.392M
YoY Change -1.67% -10.69%
Total Long-Term Liabilities $1.876B $1.203B
YoY Change 34.77% -13.01%
TOTAL LIABILITIES
Total Short-Term Liabilities $452.1M $919.5M
Total Long-Term Liabilities $1.876B $1.203B
Total Liabilities $2.666B $2.468B
YoY Change 27.2% 19.87%
SHAREHOLDERS EQUITY
Retained Earnings $1.847B $1.773B
YoY Change 10.98% 11.25%
Common Stock $344.2M $335.6M
YoY Change 10.56% 11.89%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$146.8M $6.727M
YoY Change
Total Liabilities & Shareholders Equity $2.519B $2.475B
YoY Change 17.14% 17.51%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income $87.14M $31.01M
YoY Change 2.86% -41.29%
Depreciation, Depletion And Amortization $10.83M $10.94M
YoY Change 10.34% 9.1%
Cash From Operating Activities $111.9M $1.741M
YoY Change -1.63% -85.53%
INVESTING ACTIVITIES
Capital Expenditures $41.03M $34.22M
YoY Change 55.36% 65.59%
Acquisitions
YoY Change
Other Investing Activities $21.73M $233.0K
YoY Change -762.27% -69.78%
Cash From Investing Activities -$19.30M -$42.74M
YoY Change -35.0% 45.05%
FINANCING ACTIVITIES
Cash Dividend Paid $14.73M
YoY Change 14.87%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -75.04M $56.47M
YoY Change -5.69% 659.05%
NET CHANGE
Cash From Operating Activities 111.9M $1.741M
Cash From Investing Activities -19.30M -$42.74M
Cash From Financing Activities -75.04M $56.47M
Net Change In Cash 17.52M $15.48M
YoY Change 293.64% -254.93%
FREE CASH FLOW
Cash From Operating Activities $111.9M $1.741M
Capital Expenditures $41.03M $34.22M
Free Cash Flow $70.83M -$32.48M
YoY Change -18.87% 276.3%

Facts In Submission

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ProceedsFromSaleOfEquitySecuritiesFvNi
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ProceedsFromCollectionOfNotesReceivable
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ProceedsFromCollectionOfNotesReceivable
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PaymentsForProceedsFromOtherInvestingActivities
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PaymentsForProceedsFromOtherInvestingActivities
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NetCashProvidedByUsedInInvestingActivities
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CY2024Q1 us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
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ProceedsFromRepaymentsOfLinesOfCredit
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PaymentsOfDebtIssuanceCosts
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PaymentsForRepurchaseOfCommonStock
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
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CY2024Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2023Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
42111000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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2327000 usd
CY2023Q1 us-gaap Income Taxes Paid Net
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CY2024Q1 us-gaap Interest Paid Net
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CY2023Q1 us-gaap Interest Paid Net
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CY2024Q1 us-gaap Dividends Payable Current
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CY2022Q4 us-gaap Stockholders Equity
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OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
394000 usd
CY2023Q1 chh Share Based Payment Activity
ShareBasedPaymentActivity
15396000 usd
CY2023Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
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CY2023Q1 us-gaap Dividends Common Stock Cash
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CY2023Q1 us-gaap Treasury Stock Value Acquired Cost Method
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CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
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CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
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CY2024Q1 us-gaap Net Income Loss
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CY2024Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
454000 usd
CY2024Q1 chh Share Based Payment Activity
ShareBasedPaymentActivity
11185000 usd
CY2024Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.2875
CY2024Q1 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
14147000 usd
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TreasuryStockValueAcquiredCostMethod
57372000 usd
CY2024Q1 us-gaap Stockholders Equity
StockholdersEquity
6727000 usd
CY2024Q1 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="margin-bottom:8pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Certain prior year amounts in our consolidated financial statements have been reclassified in order to maintain comparability with the current year presentation. Business combination, diligence and transition costs, which were previously presented in selling, general and administrative expenses, are now presented within a standalone financial statement line item in the consolidated statements of income. The reclassification had no effect on the Company’s previously reported operating income or net income.</span></div>
CY2024Q1 chh Contractwith Customer Liability Revenue Recognized Period
ContractwithCustomerLiabilityRevenueRecognizedPeriod
P10Y
CY2024Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
209800000 usd
CY2023Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
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FinancingReceivableAllowanceForCreditLosses
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CY2024Q1 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
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CY2023 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
763000 usd
CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
331949000 usd
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RevenueFromContractWithCustomerExcludingAssessedTax
332792000 usd
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NotesReceivableGross
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NotesReceivableGross
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FinancingReceivableAllowanceForCreditLosses
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CY2023Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
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NotesReceivableNet
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NotesReceivableNet
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NotesAndLoansReceivableNetCurrent
22012000 usd
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NotesAndLoansReceivableNetCurrent
20766000 usd
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NotesAndLoansReceivableNetNoncurrent
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NotesAndLoansReceivableNetNoncurrent
78900000 usd
CY2024Q1 us-gaap Financing Receivable Originated In Current Fiscal Year
FinancingReceivableOriginatedInCurrentFiscalYear
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CY2024Q1 us-gaap Financing Receivable Originated In Fiscal Year Before Latest Fiscal Year
FinancingReceivableOriginatedInFiscalYearBeforeLatestFiscalYear
3497000 usd
CY2024Q1 us-gaap Financing Receivable Originated Two Years Before Latest Fiscal Year
FinancingReceivableOriginatedTwoYearsBeforeLatestFiscalYear
194000 usd
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FinancingReceivableOriginatedThreeYearsBeforeLatestFiscalYear
1291000 usd
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FinancingReceivableOriginatedFourYearsBeforeLatestFiscalYear
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FinancingReceivableOriginatedFiveOrMoreYearsBeforeLatestFiscalYear
101221000 usd
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NotesReceivableGross
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FinancingReceivableAllowanceForCreditLossesWriteOffs
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CY2023 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
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CY2024Q1 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
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CY2023Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
8616000 usd
CY2024Q1 us-gaap Notes Receivable Gross
NotesReceivableGross
108004000 usd
CY2023Q4 us-gaap Notes Receivable Gross
NotesReceivableGross
108282000 usd
CY2024Q1 us-gaap Financing Receivable Allowance For Credit Loss Writeoff After Recovery
FinancingReceivableAllowanceForCreditLossWriteoffAfterRecovery
-1500000 usd
CY2023Q1 us-gaap Financing Receivable Allowance For Credit Loss Writeoff After Recovery
FinancingReceivableAllowanceForCreditLossWriteoffAfterRecovery
-2800000 usd
CY2023Q1 us-gaap Equity Method Investment Other Than Temporary Impairment
EquityMethodInvestmentOtherThanTemporaryImpairment
0 usd
CY2024Q1 us-gaap Equity Method Investment Other Than Temporary Impairment
EquityMethodInvestmentOtherThanTemporaryImpairment
0 usd
CY2024Q1 us-gaap Long Term Debt
LongTermDebt
1695201000 usd
CY2023Q4 us-gaap Long Term Debt
LongTermDebt
1568019000 usd
CY2024Q1 us-gaap Long Term Debt Current
LongTermDebtCurrent
499471000 usd
CY2023Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
499268000 usd
CY2024Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
1195730000 usd
CY2023Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
1068751000 usd
CY2024Q1 chh Number Of Hotels Managed
NumberOfHotelsManaged
13 hotel
CY2024Q1 us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
OciBeforeReclassificationsNetOfTaxAttributableToParent
454000 usd
CY2023Q1 us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
OciBeforeReclassificationsNetOfTaxAttributableToParent
394000 usd
CY2024Q1 us-gaap Equity Securities Fv Ni Cost
EquitySecuritiesFvNiCost
111190000 usd
CY2024Q1 chh Equity Securities Fvni Accumulated Gross Unrealized Gain Before Tax
EquitySecuritiesFVNIAccumulatedGrossUnrealizedGainBeforeTax
0 usd
CY2024Q1 chh Equity Securities Fvni Accumulated Gross Unrealized Loss Before Tax
EquitySecuritiesFVNIAccumulatedGrossUnrealizedLossBeforeTax
1329000 usd
CY2024Q1 us-gaap Equity Securities Fv Ni Current And Noncurrent
EquitySecuritiesFvNiCurrentAndNoncurrent
109861000 usd
CY2023Q4 us-gaap Equity Securities Fv Ni Cost
EquitySecuritiesFvNiCost
112420000 usd
CY2023Q4 chh Equity Securities Fvni Accumulated Gross Unrealized Gain Before Tax
EquitySecuritiesFVNIAccumulatedGrossUnrealizedGainBeforeTax
3954000 usd
CY2023Q4 chh Equity Securities Fvni Accumulated Gross Unrealized Loss Before Tax
EquitySecuritiesFVNIAccumulatedGrossUnrealizedLossBeforeTax
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CY2023Q4 us-gaap Equity Securities Fv Ni Current And Noncurrent
EquitySecuritiesFvNiCurrentAndNoncurrent
116374000 usd
CY2024Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.229
CY2023Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.217
CY2024Q1 chh Number Of Brands
NumberOfBrands
22 brand
CY2024Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
9094000 usd
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AllocatedShareBasedCompensationExpense
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CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
31009000 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
52820000 usd
CY2024Q1 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
158000 usd
CY2023Q1 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
272000 usd
CY2024Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
30851000 usd
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
52548000 usd
CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
49302000 shares
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
51269000 shares
CY2024Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.63
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.02
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
31009000 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
52820000 usd
CY2024Q1 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossDiluted
158000 usd
CY2023Q1 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossDiluted
272000 usd
CY2024Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
30851000 usd
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
52548000 usd
CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
49302000 shares
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
51269000 shares
CY2024Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
338000 shares
CY2023Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
445000 shares
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
49640000 shares
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
51714000 shares
CY2024Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.62
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.02
CY2024Q1 chh Number Of Brands
NumberOfBrands
22 brand
CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
331949000 usd
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
332792000 usd
CY2024Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
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CY2023Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
77851000 usd
CY2024Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
40208000 usd
CY2023Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
67495000 usd
CY2024Q1 chh Limited Payment Guaranties
LimitedPaymentGuaranties
8800000 usd
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

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