Through what year do Bw Premier Collection's current leases expire?
Bw_Premier_Collection Franchise · 2025 FDDAnswer from 2025 FDD Document
under ASC 840 for the year ended November 30, 2022
The Company leases certain office space, vehicles, and equipment under various operating leases, which expire on various dates through March 2028. Rental expenses on operating leases are recorded on a straight-line basis. Rental expense for operating leases was $1.5 million for the year ended November 30, 2022. The Company also has certain software agreements for which rental expense is recorded on a straight-line basis. Rental expense for software agreements was $9.1 million for the year ended November 30, 2022. These amounts are included in general and administrative expenses in the Consolidated Statements of Revenues and Expenses. Minimum future rentals on non-cancelable operating leases, having an initial or remaining term in excess of one year as
Source: Item 23 — Receipts (FDD pages 54–203)
What This Means (2025 FDD)
According to the 2025 FDD, Bw Premier Collection leases certain office spaces, vehicles, and equipment. These leases operate under ASC 840 accounting standards and expire at various dates through March 2028.
For the year ending November 30, 2022, the rental expenses for these operating leases totaled $1.5 million. Additionally, Bw Premier Collection has software agreements with rental expenses recorded on a straight-line basis, amounting to $9.1 million for the same period. These expenses are categorized under general and administrative expenses in the Consolidated Statements of Revenues and Expenses.
The FDD also specifies that as of November 30, 2022, minimum future rentals on non-cancelable operating leases with an initial or remaining term exceeding one year were itemized. This indicates Bw Premier Collection's ongoing financial commitments under these lease agreements. A prospective franchisee should note these lease obligations as part of the overall financial health and operational costs of the company.