What was the net income for Crowne Plaza at the end of 2023?
Crowne_Plaza Franchise · 2025 FDDAnswer from 2025 FDD Document
|---|---|---|---| | | December 31 | December 31 | | | 2024 2023 | 2024 2023 | | | | Fair value of plan assets | $ - $ 250 | $ - $ | - | | Projected benefit obligation | (31,018) (34,595) | (12,418) | (13,212) | | Funded status | $ (31,018) $ (34,345) | $ (12,418) $ | (13,212) | | Recognized in the balance sheet as: | | | | | Pension asset – current | $ - $ 250 | $ - $ | - | | Accrued pension cost – current | (3,249) (3,337) | (1,094) | (1,100) | | Accrued pension cost – noncurrent | (27,769) (31,258) | (11,324) | (12,112) | | | $ (31,018) $ (34,345) | $ (12,418) $ | (13,212) | | Amounts recognized in accumulated | | | | | other comprehensive income: | | | | | Unrecognized actuarial loss (gain) | 1,546 3,380 | (6,702) | (6,920) | ¹ Revised to reclassify unrealized gains and losses on the Rabbi Trust to net income (see Note 1).
Consolidated Statements of Changes in Parent's Investment (In Thousands)
| Balance at December 31, 2021 | $ 480,384 |
|---|---|
| Net income (Revised ¹) | 450,512 |
| Other comprehensive income (Revised ¹) | 11,363 |
| Share-ba |
Source: Item 23 — Receipts (FDD pages 100–424)
What This Means (2025 FDD)
According to Crowne Plaza's 2025 Franchise Disclosure Document, the net income at the end of 2023 was $760,670. This figure represents the profit Crowne Plaza retained after deducting all expenses, including operating costs, interest, taxes, and other relevant financial obligations, from its total revenues for that year.
For a prospective franchisee, net income is a critical indicator of the financial health and profitability of the Crowne Plaza brand. A higher net income generally suggests a more stable and successful franchise system. This can translate to better support services, stronger brand recognition, and potentially higher returns on investment for individual franchisees.
However, it's important to consider this figure in the context of other financial metrics and industry benchmarks. A franchisee should also review Crowne Plaza's revenue trends, operating expenses, and other income sources to gain a comprehensive understanding of the brand's financial performance. Additionally, it is important to understand any revisions that may have been made to the net income figures, as indicated by the "Revised" notation in the table. Understanding the reasons for these revisions can provide further insight into the financial practices of Crowne Plaza.