What was the income tax provision for Surestay Hotel By Best Western in 2023?
Surestay_Hotel_By_Best_Western Franchise · 2025 FDDAnswer from 2025 FDD Document
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Consolidated Statements of Revenues and Expenses
| (in thousands) | 2023 | Years Ended November 30, 2022 | |
|---|---|---|---|
| REVENUES: | |||
| Fees, dues and assessments | $ 293,536 | $ 276,766 | |
| Program revenues | 180,273 | 165,915 | |
| Other revenues | 62,787 | 51,199 | |
| TOTAL REVENUES | 536,596 | 493,880 | |
| EXPENSES: | |||
| Compensation, taxes and benefits | 197,303 | 175,005 | |
| Advertising and promotion | 121,415 | 105,950 | |
| Depreciation and amortization | 18,162 | 14,748 | |
| General and administrative | 88,222 | 77,477 | |
| Program cost of sales | 19,540 | 16,531 | |
| TOTAL EXPENSES | 444,642 | 389,711 | |
| Net realized and unrealized gains (losses) on investments | 12,414 | (1,391) | |
| Interest and dividend income, and interest expense, net | 12,150 | 2,160 | |
| Excess of revenues over expenses before income taxes | 116,518 | 104,938 | |
| Income tax provision | (27,498) | (17,169) | |
| Excess of revenues over expenses | 89,020 | 87,769 | |
| Excess of expenses over revenues | |||
| attributable to non-controlling interests | 299 | 310 | |
| EXCESS OF REVENUES OVER EXP |
Source: Item 23 — Receipts (FDD pages 88–286)
What This Means (2025 FDD)
According to Surestay Hotel By Best Western's 2025 Franchise Disclosure Document, the income tax provision for the year 2023 was ($27,498) thousand. This figure represents the amount of income taxes that Best Western International, Inc. (the parent company of Surestay) has provided for in its financial statements for the fiscal year ending November 30, 2023.
For a prospective Surestay Hotel By Best Western franchisee, this information provides insight into the overall financial performance and tax obligations of the parent company. While franchisees are responsible for their own individual tax liabilities, understanding the parent company's tax situation can offer a broader view of the financial health and stability of the organization.
It's important to note that this figure is consolidated for Best Western International, Inc. and its subsidiaries, not just Surestay Hotel By Best Western. Franchisees should consider this information in conjunction with other financial data provided in the FDD to gain a comprehensive understanding of the financial aspects of investing in a Surestay Hotel By Best Western franchise.