| Segment | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 |
|---|---|---|---|---|---|---|---|---|
| Franchise fees | $688.00M | $818.00M | $812.00M | $795.00M | $746.00M | $860.00M | $876.00M | $843.00M |
| Base management fees | $313.00M | $330.00M | $312.00M | $333.00M | $325.00M | $340.00M | $314.00M | $343.00M |
| Incentive management fees | $209.00M | $195.00M | $159.00M | $206.00M | $204.00M | $200.00M | $148.00M | $239.00M |
| Total | $313.00M | $330.00M | $312.00M | $333.00M | $325.00M | $340.00M | $314.00M | $343.00M |