In the Sonesta Simply Suites franchise agreement, what details about the owner(s) are required to be disclosed?

According to Sonesta Simply Suites's 2025 Franchise Disclosure Document, franchisees are required to provide current financial information for themselves and any guarantors to demonstrate their ability to meet financial obligations under their individual guarantees. This means that prospective franchisees must be prepared to disclose detailed financial records to Sonesta Simply Suites.

Sonesta Simply Suites retains the right to inspect and copy various books, records, and documents related to the hotel's operation. This includes tax returns and financial statements for the hotel. This extensive access allows Sonesta Simply Suites to monitor the financial health and compliance of the franchise.

Furthermore, the individual signing the agreement on behalf of the franchisee represents and warrants that they are authorized to bind the entity to its obligations, confirming the legitimacy and authority of the signatory. This ensures that Sonesta Simply Suites is dealing with an authorized representative who can legally commit the franchisee to the terms of the agreement.

In summary, Sonesta Simply Suites requires franchisees and their guarantors to disclose financial information to ensure they can meet their financial obligations, maintains broad inspection rights over financial records, and verifies the authority of the individual signing the franchise agreement.