Are the financial statements for Delta Hotels By Marriott audited?
Delta_Hotels_By_Marriott Franchise · 2025 FDDAnswer from 2025 FDD Document
ption of Business**
MIF, L.L.C. ("we" or the "Company") was formed on March 20, 2012 and is incorporated as a limited liability company ("LLC"), in the state of Delaware. The Company's sole member is Marriott International, Inc. ("Marriott" or the " Parent"). Upon the completion of its franchise disclosure document in 2012, the Company began offering franchises as a unit franchised business. Using the Marriott name, designs, and systems, licensed from Marriott, the Company sells Marriott-branded products and other items across various locations in the United States of America.
The Marriott franchise system is characterized by certain patents, trademarks, logos, operating systems, operating manuals, training, and distinctive hotel design and color sc
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 132)
What This Means (2025 FDD)
Based on the 2025 Franchise Disclosure Document, the financial statements of MIF, L.L.C., which offers Delta Hotels By Marriott franchises, are prepared in accordance with generally accepted accounting principles (GAAP) in the U.S. The FDD states that the presentation of the company's financial results, position, and cash flows adheres to U.S. GAAP.
However, the excerpt does not explicitly state whether these financial statements are audited by an independent accounting firm. While the statements are prepared according to U.S. GAAP, this does not automatically imply they have undergone an external audit. The FDD mentions that management makes estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, and expenses, and that ultimate results could differ from those estimates.
Prospective Delta Hotels By Marriott franchisees should confirm with the franchisor whether the financial statements included in the FDD have been audited by an independent accounting firm. If an audit has been performed, franchisees may also want to request a copy of the audit report and management letter to gain further insight into the company's financial health and internal controls.