What was the net value of property and equipment for Even Hotels as of December 31, 2023?
Even_Hotels Franchise · 2025 FDDAnswer from 2025 FDD Document
. Credit Losses Related to Receivables**
Change in expected credit loss allowance (in thousands):
| December 31 | ||||
|---|---|---|---|---|
| 2024 | 2023 | |||
| Beginning balance in allowance for credit losses | $ | 44,963 | $ | 52,355 |
| Current period charge (release) for expected credit losses | 9,170 | (1,988) | ||
| Current period charge (release) to System Fund | 4,658 | (1,608) | ||
| Write-offs charged against allowance | (4,231) | (4,127) | ||
| Foreign |
Source: Item 23 — RECEIPTS (FDD pages 99–438)
What This Means (2025 FDD)
According to Even Hotels's 2025 Franchise Disclosure Document, the net value of property and equipment as of December 31, 2023, was $493,445. This figure represents the total value of Even Hotels's assets, including land, buildings, furniture, fixtures, equipment, and assets held under finance leases, after deducting accumulated depreciation and impairment.
For a prospective franchisee, this information provides insight into the scale of Even Hotels's investments in its physical assets. It reflects the financial resources Even Hotels has dedicated to maintaining and operating its business. The assets held under finance leases are also included in this valuation.
It's important to note that these figures are presented in thousands of dollars. Therefore, the stated amount of $493,445 represents $493,445,000. This substantial investment in property and equipment suggests a significant operational infrastructure and commitment to maintaining physical assets.