What was the net income for Even Hotels in 2024?
Even_Hotels Franchise · 2025 FDDAnswer from 2025 FDD Document
y, no such opinion is expressed.
- x Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the consolidated financial statements.
- x Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the Company's ability to continue as a going concern for a reasonable period of time.
We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control-related matters that we identified during the audit.
Atlanta, Georgia April 15, 2025
Consolidated Balance Sheets
(In Thousands)
| 2024 | 2023 | 2022 |
|---|
Consolidated Statements of Net Income (In Thousands)
| Year Ended December 31 | |||||
|---|---|---|---|---|---|
| 2024 | 2023 Revised ¹ | 2022 Revised ¹ | |||
| Revenues | |||||
| Fee business | $ | 896,837 | $ 869,949 | $ | 808,297 |
| Hotel operations | 92,579 | 88,417 | 78,787 | ||
| Other | 339,236 | 304,264 | 264,377 | ||
| System Fund and reimbursable revenues | 2,425,248 | 2,280,490 | 1,880,587 | ||
| Total revenues | 3,753,900 | 3,543,120 | 3,032,048 | ||
| Operating expenses | |||||
| Bad debt expense (release) (Note 2) | 9,170 | (1,988) | (3,495) | ||
| Property and other taxes, insurance and leases | 25,576 | 46,084 | 49,435 | ||
| Maintenance and repairs | 51,344 | 59,588 | 48,991 | ||
| General and administrative expenses | 574,738 | 563,909 | 414,334 | ||
| Other hotel operations | 9,038 | 7,798 | 7,397 | ||
| Mark-up cost charged by affiliated companies | 12,904 | 16,240 | 12,684 | ||
| Allocation of expenses to affiliated companies | (155,437) | (168,690) | (134,560) | ||
| Depreciation and amortization of software | 32,766 | 33,911 | 36,042 | ||
| Amortization of finite-lived intangible assets | 4,636 | 5,734 | 5,088 | ||
| Impairment loss |
Source: Item 23 — RECEIPTS (FDD pages 99–438)
What This Means (2025 FDD)
According to Even Hotels' 2025 Franchise Disclosure Document, the net income for the year ended December 31, 2024, was $733,130. This figure represents the profit remaining after all revenues and expenses, including provisions for income taxes, have been accounted for.
For a prospective Even Hotels franchisee, understanding the franchisor's net income can provide insights into the financial health and stability of the company. A positive net income generally indicates that the company is operating profitably, which can be a reassuring factor for individuals considering investing in the franchise. However, it's important to consider this figure in conjunction with other financial data and qualitative factors, such as the brand's market position and growth strategy.
It is also important to note that the FDD includes disclaimers regarding the accuracy and reliability of the financial statements. Prospective franchisees should carefully review these disclaimers and seek professional advice to fully understand the financial risks and opportunities associated with investing in an Even Hotels franchise.