What is the Extension Fee for The Standardx franchise?
The_Standardx Franchise · 2025 FDDAnswer from 2025 FDD Document
Franchisee may request an extension of the Opening Deadline by submitting to Hyatt, at least three (3) months before the Opening Deadline, a written request for extension and an extension fee in the amount set forth in Exhibit B-1.
If Hyatt approves the extension, Hyatt will set a new Opening Deadline, the extension fee will be non-refundable, and Hyatt may (at its option) require Franchisee to modify any previously-approved plans, construction documents, or the PIP (as applicable), to comply with the then current design, equipment and other aspects of the Hotel System.
If Hyatt denies the extension, Hyatt will refund the extension fee.
Source: Item 18 — OTHER INCOME (LOSS), NET (FDD pages 187–399)
What This Means (2025 FDD)
According to The Standardx's 2025 Franchise Disclosure Document, a franchisee may request an extension to the opening deadline for their hotel. To do so, the franchisee must submit a written request to The Standardx at least three months before the opening deadline, along with an extension fee, the amount of which is detailed in Exhibit B-1.
If The Standardx approves the extension, they will set a new opening deadline, and the extension fee will be non-refundable. The Standardx may also require the franchisee to modify any previously approved plans, construction documents, or the PIP to comply with the current standards of the Hotel System.
However, if The Standardx denies the extension request, the extension fee will be refunded to the franchisee. It is important for prospective franchisees to review Exhibit B-1 to understand the specific amount of the extension fee and to factor this potential cost into their initial investment and operating budget.