Finance statement questions

CHH 2017 10‐K Report CHH 2016 10‐K Report MAR 2017 10‐K Report MAR 2016 10‐K Report

2017 2016 (2017/2016)‐1 2017 2016 (2017/2016)‐1

Account Name 2017 10‐K 2016 10‐K2

Percent change from  2016 to 2017

Account Name 2017 10‐K 2016 10‐K2

Percent  change from  2016 to 2017

REVENUES REVENUES Royalty fees 345,302$                            320,547$                          8% Base management fees 1,102$                               806$                                   37% Initial franchise and relicensing fees 26,262$                              23,953$                            10% Franchise fees 1,618$                               1,169$                               38% Procurement services 34,661$                              31,226$                            11% Incentive management fees 607$                                   425$                                   43% Marketing and reservation system 567,083$                            525,716$                          8% Owned, leased, and other revenue 1,802$                               1,126$                               60% Other 34,048$                              23,199$                            47% Cost reimbursements 17,765$                             13,546$                             31% Total revenues 1,007,356$                         924,641$                          9% Total revenue 22,894$                             17,072$                             34%

OPERATING EXPENSES OPERATING COSTS AND EXPENSES Selling, general and administrative 163,377$                            148,728$                          10% Owned, leased, and other‐direct 1,427$                               900$                                   59% Depreciation and amortization 12,431$                              11,705$                            6% Reimbursed costs 17,765$                             13,546$                             31% Marketing and reservation system 567,083$                            525,716$                          8% Depreciation, amortization, and other 290$                                   168$                                   73% Total operating expenses 742,891$                            686,149$                          8% General, administrative, and other 894$                                   704$                                   27% Gain (loss) on sale of assets, net (32)$                                     403$                                  ‐108% Merger‐related costs and charges 159$                                   386$                                   ‐59% Operating income 264,433$                            238,895$                          11% Costs and Expenses, Total 20,535$                             15,704$                             31%

Operating income 2,359$                               1,368$                               72%

OTHER INCOME AND EXPENSES, NET Gains and other income, net 688$                                   5$                                       13660% Interest expense 45,039$                              44,446$                            1% Interest expense (288)$                                 (234)$                                 23% Interest income (5,920)$                               (3,535)$                             67% Interest income 38$                                     35$                                     9% Other gains (3,229)$                               (1,504)$                             115% Equity in earnings 39$                                     10$                                     290% Equity in net (income) loss of affiliates 4,546$                                 (492)$                                ‐1024% Total other income and expenses, net 40,436$                              38,915$                            4% Income before income taxes 223,997$                            199,980$                          12% Income before income taxes 2,836$                               1,184$                               140% Income taxes 109,104$                            60,609$                            80% Provision for income taxes (1,464)$                              (404)$                                 262% Net income 114,893$                            139,371$                          ‐18% Net income 1,372$                               780$                                   76%

Choice Hotels 10‐K Marriott International 10‐K