What is the full name of the agreement that THISIHG®VOICE is entering into, as it relates to Atwell Suites?
Atwell_Suites Franchise · 2025 FDDAnswer from 2025 FDD Document
nstitute one and the same instrument. Signatures via Conga Sign, DocuSign, .PDF file, facsimile, or other electronic format have the same force and effect as originals.
| Lease costs for the years ended December 31, 2024, 2023 and 2022 were (in thousands): | | | | | |---|---|---|---|---| | | 2024 | 2023 | 2022 | | | Operating lease expense for fixed payments | | $ 10,959 $ 11,451 $ 11,926 | | | | | 543 | 528 | 344 | | | Variable lease expense | | | | | | Short-term lease cost | 197 | 574 | 151 | | | Sub-lease income | (3,428) | (2,967) | (2,275) | | | Sub-lease interest income | (393) | (118) | - | | | Finance lease expense: | | | | | | | Depreciation of assets | 3,657 | 3,657 | 3,658 | | | Interest on lease liabilities | 23,205 | 23,021 | 22,854 | Hawaii Amendment
Amendment To The Holiday Hospitality Franchising, LLC Atwell Suites License Agreement Pursuant To the Illinois Franchise Disclosure Act
Notwithstanding anything to the contrary set forth in the above License Agreement ("License"), the following provisions shall supersede and apply to this License (and, have generally been made applicable by execution of a similar Amendment to each license for an Atwell Suites Hotel issued in, or for properties in, the State of Illinois):
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- Notice Required By Law: The terms and conditions under which your License can be terminated and your rights upon non-renewal may be affected by Illinois law, 815 ILCS 705/19 and 705/20.
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- In accordance with the provision under federal bankruptcy law (11 U.S.C.A. sec. 101, et seq.), paragraphs 11.C(1)(b) and (d) of the License shall be am
Source: Item 23 — Receipts (FDD pages 99–486)
What This Means (2025 FDD)
According to the 2025 FDD, the agreement that Holiday Hospitality Franchising, LLC, an IHG subsidiary, enters into with an Atwell Suites franchisee is called the "Atwell Suites License Agreement."
Several amendments to this agreement are mentioned in the FDD, specifically those required by the Illinois Franchise Disclosure Act, the California Department of Financial Protection and Innovation, the Maryland Franchise Registration and Disclosure Law, and the Washington Franchise Investment Protection Act. These amendments modify certain provisions of the License Agreement to comply with state-specific franchise laws.
Prospective Atwell Suites franchisees should carefully review the License Agreement and any state-specific amendments with legal counsel to fully understand their rights and obligations. Understanding the terms of the agreement, including termination conditions, non-renewal rights, and dispute resolution processes, is crucial for making an informed investment decision.