What was the loss (gain) on sale of hotel for Sonesta Simply Suites in 2023 (Restated)?
Sonesta_Simply_Suites Franchise · 2025 FDDAnswer from 2025 FDD Document
| (dollars in thousands) | ||||
|---|---|---|---|---|
| 2024 | 2023 (Restated) | 2022 | ||
| Cash flows from operating activities: | ||||
| Net income (loss) | $ ( 2,913) | $ 1,477 | $ ( 3,186) | |
| Adjustments to reconcile net loss to cash provided by (used in) operating activities: | ||||
| Depreciation and amortization | 489 | 1,691 | 3,506 | |
| Amortization of key money and contract costs | 1,514 | 396 | 7 | |
| Amortization of contract liabilities | 192 | 1,497 | 713 | |
| Deferred income taxes | - | 1 | 1 | |
| Provision (Recovery) of doubtful accounts | 1,112 | ( 1,819) | 654 | |
| Other income (expense), net | - | - | 846 | |
| Loss (gain) on sale of hotel | 153 | ( 160) | - | |
| Change in current assets and liabilities |
Source: Item 23 — RECEIPTS (FDD pages 80–246)
What This Means (2025 FDD)
According to Sonesta Simply Suites' 2025 Franchise Disclosure Document, the loss (gain) on the sale of a hotel in 2023 (Restated) was $(160) thousand. This figure is part of the cash flow from operating activities, which also includes net income (loss), depreciation and amortization, and changes in assets and liabilities.
For a prospective Sonesta Simply Suites franchisee, this indicates that the company experienced a gain from hotel sales during this period. It's important to note that this gain is presented as a negative number within the context of the cash flow statement, as it offsets other expenses or losses.
Understanding these figures can help potential franchisees assess the financial health and stability of Sonesta Simply Suites. Reviewing the complete financial statements and comparing these figures over multiple years is advisable to identify trends and potential risks or opportunities.