SEGMENTS (Tables)

6 Months Ended

Jun. 30, 2020

Schedule of Operating Segments Evaluated on Income from Operations

The performance of the Company’s operating segments is evaluated primarily on income from operations. Selected financial data is provided below (in thousands):


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Revenues:
Owned hotels	$	226,170	$	317,684	$	487,402	$	590,033
Franchise and management⁽¹⁾	1,897		2,400		3,959		4,442
Total segment revenues	228,067		320,084		491,361		594,475
Corporate and other ⁽²⁾	18,636		19,704		38,628		39,218
Other revenues from franchised and managed properties ⁽³⁾	3,445		4,526		7,235		8,621
Intersegment eliminations ⁽⁴⁾	(19,314)		(20,657)		(40,089)		(40,988)
Total	$	230,834	$	323,657	$	497,135	$	601,326

Income (loss) from operations:
Owned hotels	$	25,311	$	104,653	$	73,862	$	174,348
Franchise and management ⁽¹⁾	1,897		2,400		3,959		4,442
Total segment income from operations	27,208		107,053		77,821		178,790
Corporate and other ⁽²⁾	(8,073)		(6,132)		(15,926)		(13,364)
Other expenses from franchised and managed properties, net ⁽³⁾	(638)		(470)		(1,055)		(1,022)
Total	$	18,497	$	100,451	$	60,840	$	164,404

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(1)Includes intellectual property fees charged to the owned hotels segment of $0.7 million and $1.5 million for the three and six months ended June 30, 2020, respectively, and $1.0 million and $1.8 million for the three and six months ended June 30, 2019, respectively, that are eliminated in the condensed consolidated statements of operations.

(2)Includes revenues generated and operating expenses incurred in connection with the overall support of owned, franchised and managed hotels and related operations. Corporate and other revenues are comprised of management fees earned by and cost reimbursements charged to the owned hotels segment that are eliminated in the condensed consolidated statements of operations.

(3)Includes direct reimbursement of specific costs incurred under franchise and management agreements that the Company is reimbursed for on a dollar-for-dollar basis as well as indirect reimbursement of certain costs incurred associated with the Company’s shared platform (i.e., system services, see Note 2).

(4)Includes management fees, intellectual property fees and other cost reimbursements charged to the owned hotels segment that are eliminated in the condensed consolidated statements of operations.

Schedule of Assets and Capital Expenditures of Operating Segments

Total assets for each of the Company’s operating segments are provided below (in thousands):


	June 30, 2020		December 31, 2019
Assets:
Owned hotels	$	3,732,706	$	3,661,609
Franchise and management	13,369		14,576
Total segment assets	3,746,075		3,676,185
Corporate and other	644,382		397,568
Intersegment eliminations	(42,218)		(43,157)
Total	$	4,348,239	$	4,030,596

Total capital expenditures for each of the Company's operating segments are provided below (in thousands):


	Six Months Ended June 30,
	2020		2019
Capital Expenditures:
Owned hotels	$	104,658	$	112,294


Corporate and other	651		628
Total	$	105,309	$	112,922