As of what date are the Best Western financial statements audited?
Best_Western Franchise · 2025 FDDAnswer from 2025 FDD Document
We have audited the consolidated financial statements of Best Western International, Inc. (the Company), which comprise the consolidated statements of financial position as of November 30, 2024 and 2023, and the related consolidated statements of revenues and expenses, other comprehensive revenues and expenses, cash flows and changes in net assets for the years then ended, and the related notes (collectively referred to as the "financial statements").
In our opinion, the accompanying financial statements present fairly, in all material respects, the financial position of the Company at November 30, 2024 and 2023, and the results of its operations and its cash flows for the years then ended in accordance with accounting principles generally accepted in the United States of America.
Source: Item 21 — Financial Statements (FDD page 107)
What This Means (2025 FDD)
According to Best Western's 2025 Franchise Disclosure Document, the consolidated financial statements are audited as of November 30, 2024 and 2023. The audit includes the consolidated statements of financial position, revenues and expenses, other comprehensive revenues and expenses, cash flows, and changes in net assets for the years then ended.
Ernst & Young LLP audited the consolidated financial statements of Best Western International, Inc. The opinion expressed is that the financial statements present fairly the financial position of the company as of November 30, 2024 and 2023, and the results of its operations and cash flows for the years then ended, in accordance with accounting principles generally accepted in the United States of America.
These audited financial statements provide prospective franchisees with an overview of Best Western's financial health and stability. Reviewing these statements can help potential franchisees assess the company's ability to support its franchisees and manage its own operations effectively. The consistent audit dates also allow for year-over-year comparisons, which can highlight trends in Best Western's financial performance.