When did the Americas Best Value Inn hotel ground lease in Seattle, WA expire?

According to the 2025 Americas Best Value Inn Franchise Disclosure Document, the lease for a hotel that the company managed and owned operations for in Seattle, WA, expired on February 29, 2024, and was not renewed. The expiration of this lease resulted in a loss of $153 due to the write-off of capital improvements that were not fully depreciated. This loss is recognized within "Gain (loss) on sale of assets" in the Consolidated Statements of Comprehensive Income (Loss).

This information is relevant to potential Americas Best Value Inn franchisees as it provides insight into the company's lease management and financial performance. The non-renewal of the Seattle, WA, lease and the associated loss indicate potential risks related to lease agreements and asset depreciation. Franchisees should be aware of how lease expirations and capital improvements can impact the company's financial statements and, by extension, the stability of the franchise system.

Prospective franchisees may want to inquire about the typical terms and conditions of hotel leases managed or owned by Americas Best Value Inn, including renewal options and potential financial implications of non-renewal. Understanding the company's strategy for managing leases and mitigating losses from asset depreciation can help franchisees assess the overall financial health and risk profile of the franchise.