What was the total amount of payables to affiliates for Even Hotels in the later year presented in the table?
Even_Hotels Franchise · 2025 FDDAnswer from 2025 FDD Document
oss to net revenue is as follows:
| 2024 | 2023 2022 | 2024 2023 2022 | |
|---|---|---|---|
| Service cost | $ | - $ - $ | - $ - $ - $ - |
| Interest cost | 1,517 | 1,656 1,058 | 593 628 405 |
| Amortization of unrecognized | |||
| actuarial loss (gain) | - - | 478 (597) (639) (280) | |
| Net periodic benefit cost (ga |
Source: Item 23 — RECEIPTS (FDD pages 99–438)
What This Means (2025 FDD)
According to Even Hotels' 2025 Franchise Disclosure Document, the net payables to affiliates are included in the balance sheets. As of December 31, 2024, the amount was $202.6 million. In the earlier year, December 31, 2023, the amount was $148.7 million. These amounts are considered current and of a working capital nature.
For a prospective Even Hotels franchisee, this indicates the level of financial transactions and relationships Even Hotels has with its affiliated companies. The payables to affiliates represent money owed to related entities, which could be for various services or resources provided. The fact that these are classified as 'current' and 'of a working capital nature' suggests they are part of the regular, ongoing business operations.
It's worth noting that all amounts due to or from affiliates, except for a line of credit from an affiliate, are non-interest-bearing and have no stated maturity date. This could imply flexible repayment terms, but it's important for a franchisee to understand the nature of these transactions and how they might impact the financial stability of Even Hotels. Understanding the details of these related-party transactions is crucial for assessing the overall financial health and stability of the franchise system.