What exhibit contains the audited balance sheet for Springhill Suites By Marriott?

According to the 2025 Springhill Suites By Marriott Franchise Disclosure Document, the audited balance sheet is not explicitly mentioned within the provided excerpts. However, Exhibit K is identified as containing the manuals, standards, and resources for Springhill Suites By Marriott.

Item 17 discusses financial aspects, such as the capitalization and amortization of costs related to franchise and license agreements. It also mentions that Marriott records costs incurred to obtain contracts with customers within the "Intangible assets, net" caption of their Balance Sheets. Additionally, the notes to the financial statements of MIF, L.L.C. are included, with a subsequent events evaluation through March 26, 2025.

While the specific exhibit containing the audited balance sheet is not identified, prospective franchisees should inquire with Springhill Suites By Marriott about where to find this information. Understanding the financial health of the franchisor is crucial for making an informed investment decision.