What interest rate will Atwell Suites franchisees incur on overdue invoice amounts?
Atwell_Suites Franchise · 2025 FDDAnswer from 2025 FDD Document
- 3.3 Interest on Late Payments.
Hotel will pay interest on all amounts that become past due at the lesser of (a) one percent (1%) per month; or (b) the highest rate allowed by Law.
- 3.4 Payment Default.
If Hotel should default on any payment obligation owed under this Agreement, IHG shall have the right to direct HotelKey to suspend access to and use of the PMS Solution by Hotel.
Additionally, Hotel will be responsible for all collection costs and attorney fees incurred by IHG to collect any delinquent amounts.
Source: Item 23 — Receipts (FDD pages 99–486)
What This Means (2025 FDD)
According to the 2025 FDD, Atwell Suites franchisees will pay interest on all past due amounts. The interest rate is the lesser of (a) one percent (1%) per month; or (b) the highest rate allowed by Law. This interest applies to any payment obligations owed under the agreement with IHG.
In addition to interest on late payments, Atwell Suites franchisees are responsible for all collection costs and attorney fees incurred by IHG to collect any delinquent amounts. If a franchisee defaults on any payment obligation, IHG has the right to suspend access to and use of the PMS (Property Management System) Solution.
It is important for prospective Atwell Suites franchisees to understand these terms to avoid incurring additional costs and potential disruptions to their business operations. Franchisees should ensure timely payments to maintain access to essential systems and avoid legal and collection-related expenses.