For the Embassy Suites franchise, which exhibit contains the audited consolidated financial statements?

According to the 2025 Embassy Suites Franchise Disclosure Document, the audited consolidated financial statements are attached as Exhibit C. This exhibit includes the consolidated balance sheets as of December 31, 2024, and 2023, along with the related consolidated statements of operations, member's capital, and cash flows for the years ending December 31, 2024, 2023, and 2022. The exhibit also contains related notes to these consolidated financial statements.

Exhibit C provides a detailed financial overview of Hilton Franchise Holding LLC, which is relevant for prospective Embassy Suites franchisees. These statements offer insights into the company's financial health, performance, and cash flow management over the past three years. Franchisees can use this information to assess the financial stability of the franchisor and understand the trends in its operations.

It is important for potential Embassy Suites franchisees to carefully review Exhibit C, including the notes to the financial statements, to gain a comprehensive understanding of the franchisor's financial position. Consulting with a financial advisor or attorney is advisable to interpret these statements and assess the financial risks and opportunities associated with investing in an Embassy Suites franchise.