Choice Hotels(CHH) - 2023 Q3 - Quarterly Report

22 Table of Contents Our discussion of our results of operations generally excludes the Company's other revenues and other expenses from franchised and managed properties, which reflect franchise marketing and reservation system revenues and expenses and management agreement cost reimbursements and expenses. The Company's legacy Choice franchise agreements require the payment of marketing and reservation system fees to be used exclusively by the Company for the expenses associated with providing franchise s ...