What is the repayment of construction loans for Surestay Hotel By Best Western in 2024 (in thousands)?
Surestay_Hotel_By_Best_Western Franchise · 2025 FDDAnswer from 2025 FDD Document
rincipal balance of this Denver Loan is due and payable on the maturity date. Principal due over the remaining years of the loan as of November 30, 2024 is as follows (in thousands):
| Years | ending |
|---|---|
| ------- | -------- |
| (in thousands) | 2023 | 2022 |
|---|---|---|
| Beginning balance | $ 17,373 | $ 21,213 |
| Recoveries | 1,478 | 1,210 |
| Provisions |
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 principal due over the remaining years of the Denver Loan as of November 30, 2024, is detailed in thousands of dollars.
Specifically, for the year ending November 30, 2025, the principal due is $713,000. For the year ending November 30, 2026, the principal due is $737,000. Finally, for the year ending November 30, 2027, which is the maturity date, the principal due is $22,950,000.
This information is relevant to prospective Surestay Hotel By Best Western franchisees as it provides insight into the financial obligations and repayment schedules associated with construction loans undertaken by the company. Understanding these obligations can help franchisees assess the financial stability and long-term sustainability of the franchise system.