What was the value of accrued compensation for Sonesta Simply Suites as of December 31, 2024?
Sonesta_Simply_Suites Franchise · 2025 FDDAnswer from 2025 FDD Document
ified during the audit.
March 24, 2025
RED LION HOTELS CORPORATION CONSOLIDATED BALANCE SHEETS
(amounts in thousands, except share data)
| December 31, | |||||
|---|---|---|---|---|---|
| 2024 | 2023 | ||||
| ASSETS | |||||
| Current assets: | |||||
| Cash and cash equivalents | $ | 13,316 | $ | 37,753 | |
| Accounts receivable, net | 9,258 | 7,259 | |||
| Notes receivable, net | 40 | 42 | |||
| Prepaid expenses and other current assets | 4,592 | 3,441 | |||
| Total current assets | 27,206 | 48,495 | |||
| Property and equipment, net | 1,178 | 816 | |||
| Intangible assets, net | 20,884 | 21,153 | |||
| Operating lease right of use assets | 1,686 | 2,131 | |||
| Goodwill | 19,680 | 19,680 | |||
| Other long term assets | 30,308 | 12,324 | |||
| Total assets | $ | 100,942 | $ | 104,599 | |
| LIABILITIES AND SHAREHOLDERS' EQUITY | |||||
| Current liabilities: | |||||
| Accounts payable | $ | 1,481 | $ | 1,915 | |
| Accrued compensation | 4,202 | 3,745 | |||
| Accrued expenses and other current liabilities | 868 | 1,631 | |||
| Operating lease liabilities | 581 | 595 | |||
| Total current liabilities | 7,132 | 7,886 | |||
| Long term liabilities: | |||||
| Operating lease liabilities, net of current portion | 1,218 | 1,680 | |||
| Due to related parties | 7,234 | 8,768 | |||
| Deferred income taxes | 235 | 235 | |||
| Loyalty program | 139 | - | |||
| Other long-term liabilities | 6,753 | 4,886 | |||
| Total long term liabilities | 15,579 | 15,569 | |||
| Total liabilities | 22,711 | 23,455 | |||
| Commitments and contingencies (Note 8) | |||||
| Shareholders' Equity: | |||||
| Common shares, $0.01 par value; 50,000,000 shares authorized, | |||||
| 25,464,899 issued and outstanding | 255 | 255 | |||
| Additional paid in capital | 87,652 | 87,652 | |||
| Accumulated |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 79)
What This Means (2025 FDD)
According to Sonesta Simply Suites's 2025 Franchise Disclosure Document, the accrued compensation as of December 31, 2024, was $4,202. This figure represents the amount of compensation that Sonesta Simply Suites owed to its employees but had not yet paid out as of that date. Accrued compensation is a current liability, meaning it is expected to be paid within one year.
For a prospective franchisee, understanding the accrued compensation can provide insights into the company's financial obligations and its management of employee compensation. It's important to note that this figure is part of the overall financial health assessment and should be considered alongside other liabilities and assets.
Accrued expenses typically include items like salaries, wages, bonuses, and other employee benefits that have been earned but not yet disbursed. Reviewing this amount in comparison to previous years can indicate trends in employee compensation and the company's financial practices. A significant increase in accrued compensation could signal potential cash flow issues or changes in compensation policies, while a decrease might suggest improved financial management or changes in staffing levels.