What was the net value of property and equipment for Even Hotels as of December 31, 2024?
Even_Hotels Franchise · 2025 FDDAnswer from 2025 FDD Document
| December 31 | ||
|---|---|---|
| 2024 | 2023 | |
| Land | $ 6,105 | $ 13,771 |
| Building and improvements | 64,941 | 65,074 |
| Furniture, fixtures, and equipment (including computer | ||
| software) | 930,042 | 932,519 |
| Assets held under finance leases | 182,851 | 182,851 |
| 1,183,939 | 1,194,215 | |
| Less accumulated depreciation and impairment | (752,168) | (700,770) |
| Property and equipment, net | $ 431,771 | $ 493,445 |
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, 2024, was $431,771 (in thousands). This figure is calculated by subtracting accumulated depreciation and impairment from the total value of the company's assets. The corresponding value on December 31, 2023, was $493,445 (in thousands).
Property and equipment include land, buildings and improvements, furniture, fixtures, and equipment (including computer software), and assets held under finance leases. As of December 31, 2024, the values for these categories were $6,105, $64,941, $930,042 and $182,851 (in thousands), respectively. The accumulated depreciation and impairment totaled $752,168 (in thousands) as of the same date.
For a prospective franchisee, these figures offer insight into the capital-intensive nature of Even Hotels's operations. The significant investment in property and equipment, along with depreciation, reflects the cost of maintaining and updating the physical assets necessary to operate the business. The decrease in net property and equipment value from 2023 to 2024 could be due to increased depreciation, asset write-offs, or a reduction in capital expenditures. Franchisees should consider these factors when evaluating the financial health and investment requirements of the franchise.