Does the Atwell Suites financial statement include a statement of member's equity?
Atwell_Suites Franchise · 2025 FDDAnswer from 2025 FDD Document
LLC ("LRR") | | 25% | NF III Seattle LLC and NF III Seattle Op Co, LLC (together "Seattle") |
Notes to Consolidated Financial Statements (continued)
10. Investments in Unconsolidated Entities (continued)
The Company accounts for these investments, which had a combined net book value of $9.7 million and $11.7 million at December 31, 2024 and 2023, respectively, under the equity method of accounting.
The combined unaudited summarized balance sheets and income data of the above investments is (in thousands):
| 4.1 | The Agreement will not be assignable except to an affiliate | Agreement if necessary, related to continuing policies and efforts related | | |---|---|---|---| | without the express written consent of Company. | | to COVID-19. | | | 4.2 | If any Hotel ceases to operate as a Covered Brand, it shall be | 13. | RESALE AND PACKAGING. Customer will (i) properly | | relieved of its rights, duties and obligations under this Agreement that accrue after such cessation. | | dispose of all packaging (ii) not resell Company Beverages or Company | | The Company has recognized its proportionate share of net losses and income in the consolidated statements of net income for the years ended December 31, 2024, 2023 and 2022, respectively.
In addition to the above equity accounted investments, the Company also has preferred equity investments in EDG Alpharetta EH, LLC ("EDG"), Six Senses New York and ASR JV One, LLC ("Aetna Springs") with a combined net book value of $34.3 million and $12.1 million at December 31, 2024 and 2023, respectively.
Notes to Consolidated Financial Statements (continued)
**10.
Source: Item 23 — Receipts (FDD pages 99–486)
What This Means (2025 FDD)
Based on the 2025 FDD, the financial statements for Atwell Suites include information regarding equity. Specifically, the document mentions that the company recognizes its proportionate share of net losses and income in the consolidated statements of net income for the years ended December 31, 2024, 2023 and 2022. This indicates that the financial statements do account for the equity investments and their impact on the company's financial position.
Furthermore, the FDD references preferred equity investments in entities such as EDG Alpharetta EH, LLC, Six Senses New York, and ASR JV One, LLC (Aetna Springs), with combined net book values of $34.3 million and $12.1 million at December 31, 2024 and 2023, respectively. This shows that Atwell Suites has equity investments that are recorded and valued in their financial statements. The inclusion of these values suggests that the financial statements provide some level of detail regarding member's equity, though the specific format and presentation are not detailed in this excerpt.
Additionally, the notes to the consolidated financial statements discuss investments in unconsolidated entities, such as Aetna Springs and Six Senses New York, detailing the amounts invested and the terms of these investments. For instance, in 2023, Atwell Suites invested $9.5 million in Aetna Springs as preferred equity earning 5% per annum. Similarly, the company invested $25 million in preference shares for the Six Senses hotel in New York City. These disclosures further support the presence of equity-related information within the financial statements, although a dedicated "statement of member's equity" is not explicitly confirmed.