When did the Bw Premier Collection's Vīb hotel in Tempe, Arizona open?
Bw_Premier_Collection Franchise · 2025 FDDAnswer from 2025 FDD Document
In December 2019 and March 2020, the Company acquired land to develop two hotels, located in Tempe, Arizona, and Denver, Colorado, respectively. Property development costs, including property construction costs, interest and other financing fees, property taxes, architectural and engineering fees, and other direct and indirect development costs, are capitalized beginning when the development activity commences and ending when all infrastructure is substantially complete and the property is available for occupancy.
The Vīb in Tempe, Arizona opened in March 2022 and the Vīb in Denver, Colorado opened in June 2022. During the month the respective hotel opened, the development in process assets were placed into service and depreciation of these assets commenced.
Source: Item 23 — Receipts (FDD pages 54–203)
What This Means (2025 FDD)
According to the 2025 Bw Premier Collection Franchise Disclosure Document, the Vīb hotel in Tempe, Arizona, opened in March 2022. The document mentions that the company acquired land in December 2019 to develop the hotel. Property development costs were capitalized from the start of development until the infrastructure was substantially complete and available for occupancy. Once the hotel opened in March 2022, the development in process assets were placed into service, and depreciation of these assets began.
This information is relevant to potential Bw Premier Collection franchisees as it provides insight into the company's investment activities and timelines for hotel development. Knowing the opening date of a corporate-owned hotel like the Vīb in Tempe can give franchisees a sense of the time it takes to develop a new hotel and start generating revenue. It also shows how Bw Premier Collection accounts for development costs and assets.
The FDD also mentions the opening date of a Vīb hotel in Denver, Colorado, which occurred in June 2022. Tracking the performance of these corporate-owned hotels could be a valuable point of discussion for prospective franchisees, allowing them to understand potential revenue and expense patterns in similar markets. Understanding these timelines and financial reporting practices can help franchisees better plan their own investments and operations.