What is the deadline for a Crowne Plaza licensee to submit annual financial statements to IHG after a request?
Crowne_Plaza Franchise · 2025 FDDAnswer from 2025 FDD Document
If requested by IHG, Licensee will submit to IHG as soon as available but not later than 90 days after such request, and in a format as reasonably required by IHG, complete financial statements for the prior year. Licensee will certify them to be true and correct and to have been prepared in accordance with generally accepted accounting principles and the Uniform System, consistently applied, and any false certification will be a breach of this License.
Source: Item 23 — Receipts (FDD pages 100–424)
What This Means (2025 FDD)
According to the 2025 Crowne Plaza Franchise Disclosure Document, if IHG requests it, a licensee must submit complete financial statements for the prior year as soon as they are available, but no later than 90 days after the request. These statements must be in a format reasonably required by IHG.
The licensee is required to certify that these financial statements are true, correct, and prepared in accordance with generally accepted accounting principles and the Uniform System, consistently applied. Any false certification constitutes a breach of the license agreement.
This requirement ensures that IHG has access to accurate and timely financial information to monitor the performance and financial health of each Crowne Plaza location. The 90-day deadline provides a reasonable timeframe for franchisees to compile and submit their financial statements while allowing IHG to promptly review the data.