What was the net income (loss) for Sonesta Simply Suites in 2024?

According to Sonesta Simply Suites' 2025 Franchise Disclosure Document, the net loss for 2024 was $2,913,000. This figure is part of the cash flow statement from operating activities, presented in thousands of dollars. The document also provides figures for 2023 and 2022, which were a restated net income of $1,477,000 and a net loss of $3,186,000, respectively.

This information is crucial for potential franchisees as it provides a glimpse into the brand's financial performance. A net loss, as seen in 2024 and 2022, indicates that the company's expenses exceeded its revenues during those periods. While a single year's loss isn't necessarily a deal-breaker, it's important to consider the trend over multiple years. The restated net income for 2023 suggests a degree of volatility in Sonesta Simply Suites' financial performance.

A prospective franchisee should investigate the reasons behind these fluctuations. Understanding the factors that contributed to the net loss in 2024, and the restatement for 2023, is essential for assessing the financial risks and potential rewards of investing in a Sonesta Simply Suites franchise. This includes analyzing the brand's revenue streams, cost structure, and any significant changes in the market or the company's operations.

It is also important to note that these figures reflect the performance of Sonesta Simply Suites as a whole and may not be representative of the performance of individual franchise locations. A potential franchisee should request more detailed financial information, including unit-level data, to gain a more accurate understanding of the potential profitability of a Sonesta Simply Suites franchise.