What was the value of the Leasing assets liabilities for Sonesta Simply Suites as of December 31, 2023?
Sonesta_Simply_Suites Franchise · 2025 FDDAnswer from 2025 FDD Document
come tax (expense) benefit $ (137) $ (104) $ (437) The components of our deferred tax assets and deferred tax liabilities at December 31, 2024 and 2023 are as follows:
| December 31, | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | 2023 | |||||||||
| Assets | Lia | bilities | Assets | Lia | bilities | |||||
| Property and equipment | $ | 1,823 | $ | = | $ | 2,042 | $ | - | ||
| Intangible assets | 360 | 1,936 | 953 | 1,922 | ||||||
| Goodwill | 937 | - | 1,180 | - | ||||||
| Accrued bonus | 729 | - | 609 | - | ||||||
| Interest expense limitation section 163(j) | 345 | = | 345 | - | ||||||
| Allowance for credit losses | 161 | - | 547 | - | ||||||
| Tax credit carryforwards | 3,723 | - | 4,244 | - | ||||||
| Federal and state net operating losses | 14,991 | - | 12,201 | - | ||||||
| Leasing liabilities | 1,066 | - | 1,066 | - | ||||||
| Leasing assets | - | 1,009 | - | 1,009 | ||||||
| Other |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 79)
What This Means (2025 FDD)
According to Sonesta Simply Suites's 2025 Franchise Disclosure Document, the leasing assets were valued at $0 and leasing liabilities were valued at $1,009 as of December 31, 2023.
For a prospective franchisee, understanding these figures is crucial for assessing the financial obligations associated with leasing. Leasing assets represent the value of the rights to use leased properties, while leasing liabilities represent the financial obligations to make lease payments. The difference between assets and liabilities can impact the franchisee's balance sheet and overall financial health.
It's important to note that these figures reflect the financial position of Red Lion Hotels Corporation (RLHC), the parent company of Sonesta Simply Suites, and may not directly translate to the financial situation of an individual franchise unit. However, they provide insight into how RLHC manages its leasing obligations and assets, which can be indicative of the company's overall financial management practices. Franchisees should consult with financial advisors to understand the specific leasing implications for their individual franchise agreements.