What was the amount of investments in unconsolidated entities for Camp Margaritaville as of December 31, 2023?
Camp_Margaritaville Franchise · 2025 FDDAnswer from 2025 FDD Document
The investment account for 560 MV Hotel LLC was $0 for the years ended December 31, 2024 and 2023.
The investment account for Lifestyle Brands was $0 for the years ended December 31, 2023 and 2022.
Source: Item 23 — RECEIPTS (FDD pages 72–406)
What This Means (2025 FDD)
According to Camp Margaritaville's 2025 Franchise Disclosure Document, the investment account for 560 MV Hotel LLC was $0 for the year ended December 31, 2023. This investment represents Camp Margaritaville's 3.2% interest in a resort in New York, New York.
In October 2023, the majority owner (96.8%) of the resort foreclosed on its loan agreement, and in December 2023, the lender assumed control of the property. Consequently, Camp Margaritaville lost its ownership interest in the resort and fully impaired its investment in the property. The impairment loss is reflected in the net loss on investments in unconsolidated entities on the consolidated statements of operations.
Additionally, the investment account for Lifestyle Brands was also $0 for the year ended December 31, 2023. Camp Margaritaville had a 49.9% ownership in Lifestyle Brands. Therefore, the total investments in unconsolidated entities for Camp Margaritaville was $0 as of December 31, 2023.