What is the timeframe after the transaction date within which Crowne Plaza must submit transactions to FreedomPay for settlement?
Crowne_Plaza Franchise · 2025 FDDAnswer from 2025 FDD Document
Hotel agrees that FreedomPay shall have no liability or obligation to Hotel for any transactions not submitted or reported to FreedomPay for settlement within sixty (60) days after the actual date of the transaction.
For transactions submitted or reported after such time limit, FreedomPay will attempt to settle such transactions if the data is available, but FreedomPay will have no liability to Hotel if it is unable to settle such transactions.
Source: Item 23 — Receipts (FDD pages 100–424)
What This Means (2025 FDD)
According to the 2025 Crowne Plaza FDD, hotels must submit transaction data to FreedomPay for settlement within 60 days of the actual transaction date. If a Crowne Plaza hotel submits transaction reports after this 60-day window, FreedomPay will attempt to process the settlement if the data is available. However, FreedomPay assumes no liability if it cannot settle transactions submitted past this deadline.
This requirement means that Crowne Plaza franchisees need to have efficient systems in place to ensure timely submission of transaction data. Delays in submission could potentially lead to issues with settlement and reconciliation, impacting the hotel's revenue flow. Franchisees should prioritize integrating their point-of-sale (POS) systems with FreedomPay to automate and streamline the transaction reporting process.
While FreedomPay will attempt to settle late transactions, Crowne Plaza hotels cannot rely on this. Consistent delays could indicate operational inefficiencies that need to be addressed. Franchisees should train staff to adhere to the 60-day submission window and regularly monitor their transaction processing to identify and resolve any bottlenecks. This proactive approach will help ensure smooth financial operations and minimize the risk of settlement issues.