To whom must The Standardx tell before changing its bank account used in the operation of the Hotel?

According to The Standardx's 2025 Franchise Disclosure Document, a franchisee must inform The Standardx before changing the bank account used for the hotel's operations. Specifically, the franchisee "may not change your bank, financial institution, or account used in the operation of the Hotel without first telling us." This requirement is tied to the electronic payments that franchisees must make for Royalty Fees, System Services Charges, and other amounts due to The Standardx or any member of the Hyatt Group.

This provision ensures that The Standardx can reliably collect payments via electronic funds transfer (EFT). By requiring prior notification, The Standardx can update its records and systems to reflect the new banking information, preventing potential disruptions in payment processing. This is a standard practice in franchising, as franchisors rely on consistent and timely payments from franchisees.

For a prospective The Standardx franchisee, this means that any change to the hotel's bank account requires advance notice to The Standardx. Failing to do so could result in a breach of the franchise agreement and potential penalties. Therefore, it is crucial to maintain open communication with The Standardx regarding any financial matters related to the hotel's operation.