What was the net income for Even Hotels for the year ended December 31, 2022?
Even_Hotels 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-based payment co |
Source: Item 23 — RECEIPTS (FDD pages 99–438)
What This Means (2025 FDD)
According to Even Hotels's 2025 Franchise Disclosure Document, the net income for the year ended December 31, 2022, was $450,512. This figure represents the profit Even Hotels retained after deducting all expenses, including the provision for income taxes, from its total revenues for that year.
Analyzing the revenues and expenses, Even Hotels generated total revenues of $3,032,048 in 2022, derived from fee business, hotel operations, other sources, and System Fund and reimbursable revenues. The total operating expenses amounted to $2,424,112, encompassing various costs such as bad debt expense, property taxes, maintenance, administrative expenses, and System Fund expenses. After accounting for interest expenses, interest income, income or loss from equity method investments, gains or losses on securities, and other income or losses, the income before income taxes was $620,086. The provision for income taxes was $169,574, resulting in the net income of $450,512.
Prospective franchisees should consider this net income figure as an indicator of the financial performance of Even Hotels. While a positive net income suggests profitability, it's important to evaluate this figure in conjunction with other financial metrics and industry benchmarks to assess the overall health and stability of the franchise system. Additionally, franchisees should investigate the factors contributing to revenue and expenses to understand the potential for future growth and profitability.