Are the Best Western financial statements presented in a comparative format for the three years?
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 the 2025 Best Western Franchise Disclosure Document, the auditor's report indicates that the consolidated financial statements include the years ending November 30, 2024 and 2023. Specifically, the auditor states they have audited the statements of financial position as of November 30, 2024 and 2023, along with related statements for those years.
While the auditor's opinion covers the financial years 2024 and 2023, the provided financial statement data includes revenue and expense figures for 2023 and 2022. For example, total revenues are listed as $536,596,000 for 2023 and $493,880,000 for 2022. Similarly, total expenses are $444,642,000 for 2023 and $389,711,000 for 2022.
Therefore, based on the excerpts, Best Western's financial statements are presented in a comparative format, but only for two years (2024 and 2023 in the auditor's opinion) and with some data available for a prior year (2022 in the revenue and expense details). The excerpts do not contain a full three-year comparative presentation in the financial statements.