How many Sonesta Simply Suites locations were operating in New Jersey at the start of 2023?
Sonesta_Simply_Suites Franchise · 2025 FDDAnswer from 2025 FDD Document
| | 2023 | 0 | | | 2024 | 1 | | Total Outlets | 2022 | 0 | | | 2023 | 2 | | | 2024 | 2 |
TABLE NO. 3 STATUS OF FRANCHISED OUTLETS FOR YEARS 2022 to 2024
| State | Year | Outlets at Start of Year | Outlets Opened | Terminations | Non- Renewals | Reacquired by Franchisor | Ceased Operations- Other Reasons | Outlets at End of the Year |
|---|---|---|---|---|---|---|---|---|
| I |
Source: Item 20 — OUTLETS AND FRANCHISEE INFORMATION (FDD pages 74–79)
What This Means (2025 FDD)
According to Sonesta Simply Suites' 2025 Franchise Disclosure Document, there were 2 locations operating in New Jersey at the start of 2023. This information is based on the table that details outlet information by state and year. The table provides a year-by-year breakdown of the number of outlets at the start of the year, outlets opened, terminations, non-renewals, outlets reacquired by the franchisor, outlets that ceased operations for other reasons, and the number of outlets at the end of the year.
For a prospective franchisee, this data offers insights into the brand's growth and stability within New Jersey. The fact that the number of locations remained constant throughout 2023 and 2024 suggests a stable market presence. However, it's important to note that no new locations opened during these years, which could indicate market saturation or strategic decisions by the franchisor.
It is important to consider this data in conjunction with other factors, such as market demographics, competition, and local economic conditions, to assess the potential for future growth and success in the New Jersey market. Speaking with current franchisees in New Jersey could provide valuable insights into the challenges and opportunities specific to this region.