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    Aloft Hotels

    Franchise research report · reviewed 2026 disclosure data

    Researching Aloft Hotels franchise opportunities? Every figure below is cited to the FDD.

    Reviewed sources

    Outdoor Collection by Marriott Bonvoy & Postcard Cabins franchise brings distinctive outdoor hospitality experiences through unique cabin accommodations and nat

    Headline figures

    Quick facts

    How much does it cost to open an Aloft Hotels franchise?
    The Aloft Hotels Franchise Disclosure Document reports separate estimated initial investments by format: $13,567,610–$36,691,910 for total initial investment excluding indeterminable costs — 80–110 rooms (2026 FDD, Item 7, PDF p. 68); $18,381,210–$36,691,910 for total initial investment excluding indeterminable costs — 120–150 rooms (2026 FDD, Item 7, PDF p. 68). These formats are not combined. Each is the franchisor's disclosed estimate, not a quote. Details
    What is the Aloft Hotels initial franchise fee?
    The disclosed initial franchise fee for a standard single unit is $6 (2026 FDD, Item 5, PDF p. 39). Other fee options (for example multi-unit or conversion) are listed separately in the report. Details
    Does Aloft Hotels disclose financial performance (Item 19)?
    Yes. The Aloft Hotels FDD includes an Item 19 financial performance representation (2026 FDD, Item 19, PDF p. 120). Figures apply only to the locations and period each one covers. Details
    How many Aloft Hotels locations are there?
    The FDD reports 334 outlets at the end of 2025 (2026 FDD, Item 20, PDF p. 126). Existing locations do not indicate territory availability. Details

    From reviewed FDD figures only. Not a recommendation or projection.

    What the disclosures show

    1. 1The 2026 FDD (Item 7) estimates opening costs separately by format: $13,567,610 – $36,691,910 (Total initial investment excluding indeterminable costs — 80–110 rooms); $18,381,210 – $36,691,910 (Total initial investment excluding indeterminable costs — 120–150 rooms); several initial fee options apply.
    2. 2Item 19 covers 3 separate groups: other measures for 154 Franchised Aloft hotels locations; other measures for 159 Franchised Aloft hotels locations; other measures and revenue and memberships for 155 Franchised Aloft hotels locations. They are not combined.
    3. 3Outlets grew by 6 in 2025, to 334 (Systemwide: United States and Canada, as labeled in the FDD, Item 20).

    From reviewed FDD figures only. Not a recommendation or projection.

    Costs · Items 5–7

    What does it cost to open?

    Estimated opening costs and the fees payable to the franchisor.

    Startup Investment — Item 7

    Range across 2 single-unit formats

    2026 FDD · Item 7

    Formats disclosed in Item 7 (2)

    Each format has its own total. The total depends on the format you choose.

    • Total initial investment excluding indeterminable costs — 80–110 roomsPDF p. 68$13,567,610 – $36,691,910
    • Total initial investment excluding indeterminable costs — 120–150 roomsPDF p. 68$18,381,210 – $36,691,910

    Standard single-unit franchise fee

    2026 FDD · Item 5 · PDF p. 39
    Discounted and multi-unit options are separate; see all fees.

    Ongoing Fees — Item 6

    Selected recurring charges; payment bases and conditions remain attached to each fee.

    306 reported fees, each with its payment basis, are listed below; they haven't been sorted into recurring, initial and occasional groups yet.

    Financial Performance — Item 19

    What results are disclosed—and for which locations?

    3 separate populations, shown apart. Revenue is not owner income.

    Locations counted: not stated in the reviewed record

    Other measures · 154 locations

    Who is counted
    STR Included Hotels: at least two years operating and reported STR data
    Excluded
    Conditions exclude preceding-two-year room renovation taking >=5% rooms out of service, public-space renovation causing >=5% revenue displacement, or expansion increasing revenue >=5%; excludes hotels without required operating history
    Method
    STR data unaudited/unverified; missing-reporting days excluded; Canadian STR results converted monthly CAD to USD at Treasury rate second-to-last day. Per-hotel statistics average daily reports; aggregate ADR/OCC/RevPAR weighted as defined.

    Locations counted: not stated in the reviewed record

    Other measures · 159 locations

    Who is counted
    1-Year Comp Hotels: at least 12 months open, met Conditions
    Excluded
    Conditions exclude preceding-two-year room renovation taking >=5% rooms out of service, public-space renovation causing >=5% revenue displacement, or expansion increasing revenue >=5%; excludes hotels without required operating history
    Method
    STR data unaudited/unverified; missing-reporting days excluded; Canadian STR results converted monthly CAD to USD at Treasury rate second-to-last day. Per-hotel statistics average daily reports; aggregate ADR/OCC/RevPAR weighted as defined.

    Locations counted: not stated in the reviewed record

    Revenue, memberships and other measures · 155 locations

    Who is counted
    Included Hotels: at least two years open and met Conditions
    Excluded
    Conditions exclude preceding-two-year room renovation taking >=5% rooms out of service, public-space renovation causing >=5% revenue displacement, or expansion increasing revenue >=5%; excludes hotels without required operating history
    Method
    Marriott internal databases, not STR; STR competitive-set minimum reporting may exclude some of these from STR. Reservation revenue/room-night bookings include subsequently cancelled reservations; excludes tax/VAT and direct-property or area/regional/national-sales office group/transient bookings. Source bookings calculation paragraph says 88 hotels while charts/narrative say 155; retained as stated.

    These groups are never combined.

    Outlet Changes — Item 20

    How has the outlet count changed?

    Systemwide: United States and Canada, as labeled in the FDD · counts as of 2025 of each year.

    2026 FDD · Item 20 · PDF p. 126

    Net +14 outlets, 2023–2025

    0320202332820243342025+8+6

    Year-end counts reported in Item 20. The scale starts at zero, so the line looks nearly flat; the labels between the dots show each year's change. Openings and closures for 2025 haven't been pulled from the Item 20 tables yet, so no turnover or churn is shown.

    Questions to investigate

    Prompts based on what this brand's reviewed disclosures do and don't show — not conclusions. Join free as a member to save questions to your research.

    For the franchisor

    • Which line items in the 2026 Item 7 estimate ($13,567,610 – $36,691,910) vary most by market, and why?

    • Which initial fee option would apply to my situation, and what conditions or discounts affect it?

    • Which locations are included in the Item 19 figures, and which were excluded?

    • Reported units went from 328 to 334 in 2025. How many new units opened, closed or changed hands?

    • Is a territory available in my area, and how is it defined in my agreement?

    For current and former owners

    • How did your actual startup costs and timeline compare with the Item 7 estimate?

    • How many hours a week do you work in the business, and in what role?

    • How do your results compare with the Item 19 figures, and what explains the difference?

    • What support from the franchisor has been most and least useful?

    For your advisors

    • Ask a franchise attorney to review the territory, renewal, transfer and termination terms.

    • Ask an accountant to build a cash-flow plan using your own assumptions, not the franchisor's.

    Sources & vintage history

    Every displayed fact is retained with its disclosure vintage, item, page, and reviewed status. Prior vintages remain on file rather than being overwritten.

    Citations (2026 FDD)

    1. [1]Standard initial franchise fee — Item 5 · PDF p. 39
    2. [2]Item 19 — Locations counted not stated in the reviewed record — STR Included Hotels: at least two years operating and reported STR data · PDF p. 120; PDF p. 121
    3. [3]Item 19 — Locations counted not stated in the reviewed record — 1-Year Comp Hotels: at least 12 months open, met Conditions · PDF p. 121
    4. [4]Item 19 — Locations counted not stated in the reviewed record — Included Hotels: at least two years open and met Conditions · PDF p. 122; PDF p. 123
    5. [5]Outlet counts — Item 20, Table 1 · PDF p. 126

    "PDF p." is the page in the PDF file; "printed p." is the number printed on the FDD page. Source document: FDD

    Territory & operations

    238 addresses in Franopolis's imported location list. Coverage may differ from Item 20 outlet counts.

    These are contract disclosures, not confirmation that any territory is currently available.

    Franchisor financial statements

    Fiscal yearMeasureReported value
    2025total revenues$147,482
    2025total operating costs and expenses$91,860
    2025total liabilities and member's equity$582,261
    2025licensing fees and other revenue$2,989
    2025gross fee revenue$98,016
    2025deferred income - current portion$2,603
    2025note receivable and accrued interest from member-$7,153
    2025current year earnings$79,457
    2025total assets$582,261
    2025accounts payable$1,930
    2025total current liabilities$4,533
    2025total liabilities$36,893
    2025membership interest$20,000
    2025deferred income - non current portion$32,360
    2025net incomeMore than one value recorded for this year — open the FDD source before comparing$79,457
    2025net fee revenues$96,599
    2025cost reimbursement revenue$50,883
    2025franchise fees$95,027
    2025net incomeMore than one value recorded for this year — open the FDD source before comparing$79,457
    2025interest income$23,835
    2025total member's equity$545,368
    2025contract investment amortization-$1,417
    2025intangible assets, net$42,106
    2025due from related parties, net$518,004
    2025retained earnings$453,064
    2024current year earnings$63,830
    2024total revenues$103,268
    2024total operating costs and expenses$61,794
    2024licensing fees and other revenue$2,026
    2024gross fee revenue$71,980
    2024net incomeMore than one value recorded for this year — open the FDD source before comparing$63,830
    2024accounts payable$967
    2024deferred income - current portion$1,741
    2024membership interest$20,000
    2024total assets$477,080
    2024total liabilities$10,756
    2024total current liabilities$2,708
    2024deferred income - non current portion$8,048
    2024net incomeMore than one value recorded for this year — open the FDD source before comparing$63,830
    2024net fee revenues$70,777
    2024franchise fees$69,954
    2024interest income$22,356
    2024total member's equity$466,324
    2024contract investment amortization-$1,203
    2024cost reimbursement revenue$32,491
    2024total liabilities and member's equity$477,080
    2024intangible assets, net$21,637
    2024note receivable and accrued interest from member-$6,740
    2024retained earnings$389,234
    2023total revenues$94,417
    2023total operating costs and expenses$50,771
    2023franchise fees$71,032
    2023licensing fees and other revenue$2,124
    2023net incomeMore than one value recorded for this year — open the FDD source before comparing$64,157
    2023net incomeMore than one value recorded for this year — open the FDD source before comparing$64,157
    2023contract investment amortization-$1,225
    2023net fee revenues$71,931
    2023interest income$20,511
    2023gross fee revenue$73,156
    2023cost reimbursement revenue$22,486
    2022balance as of december 31, 2022$20,000
    —operating cash-flow adjustment for interest receivableMore than one value recorded for this year — open the FDD source before comparing-$427
    —operating cash-flow adjustment for interest receivableMore than one value recorded for this year — open the FDD source before comparing-$414
    —operating cash-flow adjustment for contract acquisition costsMore than one value recorded for this year — open the FDD source before comparing-$21,956
    —operating cash-flow adjustment for interest receivableMore than one value recorded for this year — open the FDD source before comparing-$413
    —operating cash-flow adjustment for contract acquisition costsMore than one value recorded for this year — open the FDD source before comparing$511
    —operating cash-flow adjustment for contract acquisition costsMore than one value recorded for this year — open the FDD source before comparing-$67

    These figures describe the franchisor company, not individual franchise locations.

    SBA-backed loans to franchisees

    Loading…

    Source: U.S. Small Business Administration 7(a) & 504 FOIA data. Loan volume is not a measure of franchisee success.

    At a glance

    Business history

    Not reviewed

    Owner participation

    Not reviewed

    Territory language

    Litigation disclosure

    Not reviewed

    Bankruptcy disclosure

    Not reviewed

    Agreement term

    Not reviewed

    Reader notes on wording

    Our automated check found that these summaries may not match the FDD's exact wording. Read the FDD excerpt itself; it is the authoritative text. Core cost, fee, Item 19 and outlet figures are not affected.

    • Item 5 · PDF p. 36 · 2026 FDD

      Our summary: B. Support — $60000

      “but we determine that you are not qualified to operate a system hotel without additional training, you must participate in the FITM program for open hotels ( “FITM-R”), the cost of which is currently $60,000 and must be paid when you execute the franchise agreement. If we determine that you are qualified to operate the hotel, but are unfamiliar with the Marriott systems, we may require you to participate in the Above Property Immersion program (“API”), through which we provide several executive-level conference calls or webinars and virtual, self-paced web-based training to familiarize your executive team with the use of the Marriott programs, systems, and services.”

      Note: This is a state-specific Item 20 entry. The required review scope is limited to national/systemwide Total rows, so this state entry is not verifiable under that scope.

    • Item 5 · PDF p. 36 · 2026 FDD

      Our summary: B. Support — $1800

      “e that the costs for on-site classes, training services, and relicensing assistance (not including reimbursement for Marriott personnel’s travel, meal, and lodging expenses) generally will range from $1,800 to $15,000 if you are purchasing an existing Aloft by Marriott Hotel or converting a hotel that is currently managed by us or one of our affiliates into a franchised Aloft by Marriott Hotel. For all other conversions, we estimate that the cost of the support and training will range from $35,000 to $75,000, depending on the size of the hotel, the length of time the hotel has been closed (due to renovations or otherwise), your experience and familiarity with the system, and the experience of the hotel staff. In addition, if you desire to operate your hotel but we determine that you are not qualified to operate a system hotel without additional training, you must participate in the FITM ”

      Note: This is a state-specific Item 20 entry. The required review scope is limited to national/systemwide Total rows, so this state entry is not verifiable under that scope.

    • Item 5 · PDF p. 37 · 2026 FDD

      Our summary: You must pay our then-current API — $20000

      “You must pay our then-current API enrollment fee, presently $20,000, when you execute the franchise agreement. Franchisees that participate in FITM-R or API must undergo one non-accountable audit. Franchisees that participate in FITM-R or API may also be required to participate in the Revenue Management Advisory Services program, the Customer Engagement Center Property Support Services program, the Digital Marketing program, and the sales programs we specify for a period of two years, at an additional cost. See Items 6 and 11 for more information regarding these programs. You may incur additional fees and costs or be required to retain a third-party management company if you do not complete these programs in the time frame specified by us. The ranges above exclude, and you must pay for the cost of, travel, meal and lodging expenses incurred by you and your designated attendees to complete training programs that are not conducted on site, such as orientation and immersion training. 4. Fees for Other Services ”

      Note: This is a state-specific Item 20 entry. The required review scope is limited to national/systemwide Total rows, so this state entry is not verifiable under that scope.

    • Item 5 · PDF p. 36 · 2026 FDD

      Our summary: A. Property Improvement — $12000

      “A. Property Improvement Plan When converting a hotel (including another Company Brand Hotel) to an Aloft by Marriott Hotel, transferring an existing Aloft by Marriott Hotel, or converting a hotel that is currently managed by us or one of our affiliates to a franchised Aloft by Marriott Hotel, as set forth in Item 6, you must pay a property improvement plan fee of $12,000 for us to review the hotel to determine the renovations or other work necessary to bring the hotel into good repair and to conform the hotel to our then-current Aloft by Marriott Hotels standards, including fire protection and life safety standards, and prepare a property improvement plan (“PIP”). Payment is due when the review is requested. The PIP fee includes the cost of the initial Fire Protection and Life Safety Audit to determine the renovations or other work necessary to comply with our then-current fire protection and life safety standards (but does not include the cost of any additional audits that may be necessary). PIPs are effective for a period of 12 months after issuance. If you request revisions or modifications to a PIP prior to its expiration, you must pay to us a fee of $5,000 to review the proposed revisions or modifications. You must pay to us a fee of $6,000 to refresh a PIP that is 12 months past its initial issuance date. If a PIP is 24 months past its initial issuance date, you must pay to us a fee of $12,000 to issue a new PIP. These fees are non-refundable. ”

      Note: This is a state-specific Item 20 entry. The required review scope is limited to national/systemwide Total rows, so this state entry is not verifiable under that scope.

    • Item 5 · PDF p. 36 · 2026 FDD

      Our summary: B. Support — $35000

      “el that is currently managed by us or one of our affiliates into a franchised Aloft by Marriott Hotel. For all other conversions, we estimate that the cost of the support and training will range from $35,000 to $75,000, depending on the size of the hotel, the length of time the hotel has been closed (due to renovations or otherwise), your experience and familiarity with the system, and the experience of the hotel staff. In addition, if you desire to operate your hotel but we determine that you are not qualified to operate a system hotel without additional training, you must participate in the FITM program for open hotels ( “FITM-R”), the cost of which is currently $60,000 and must be paid when you execute the franchise agreement. If we determine that you are qualified to operate the hotel, but are unfamiliar with the Marriott systems, we may require you to participate in the Above Proper”

      Note: This is a state-specific Item 20 entry. The required review scope is limited to national/systemwide Total rows, so this state entry is not verifiable under that scope.

    • Item 6 · PDF p. 46 · 2026 FDD

      Our summary: Audit Program/ — $20000

      “Audit Program/ Guest Experience and Accountability Program Our then-current fee, presently $20,000 for up to 10 participants, plus $10,000 for up to an additional 10 participants On demand If the hotel, or any other hotel operated by you, your affiliates, or your management company, is placed in Red Zone in any quality assurance tracking period, we may require you to participate in this semi-annual program. ”

      Note: This is a state-specific Item 20 entry. The required review scope is limited to national/systemwide Total rows, so this state entry is not verifiable under that scope.

    • Item 19 · PDF p. 123 · 2026 FDD

      Our summary: Median loyalty occupancy contribution

      “Average Marriott Bonvoy Contribution to 2025 Room Nights and Occupancy Average Number of Member Room Nights per Hotel 22,000 Average Annual Loyalty Program Contribution to Occupancy 60.4% Of the 155 Included Hotels, 64 hotels or 41.3% met or exceeded the average number of member room nights per hotel of 22,000; and 84 hotels or 54.2% met or exceeded the average loyalty program contribution to occupancy of 60.4%. The median number of member room nights was 21,000; and the median annual loyalty program contribution to occupancy was 61.2%. ”

      Note: The Item 19 discussion conflicts on whether loyalty member room-night figures include redeemed nights, leaving this measure's methodology unsettled.

    • Item 19 · PDF p. 123 · 2026 FDD

      Our summary: Hotels meeting loyalty occupancy mean

      “Average Marriott Bonvoy Contribution to 2025 Room Nights and Occupancy Average Number of Member Room Nights per Hotel 22,000 Average Annual Loyalty Program Contribution to Occupancy 60.4% Of the 155 Included Hotels, 64 hotels or 41.3% met or exceeded the average number of member room nights per hotel of 22,000; and 84 hotels or 54.2% met or exceeded the average loyalty program contribution to occupancy of 60.4%. The median number of member room nights was 21,000; and the median annual loyalty program contribution to occupancy was 61.2%. ”

      Note: Item 19 pages conflict on whether these member room-night figures include redeemed nights, so the applicable methodology is unsettled.

    • Item 19 · PDF p. 123 · 2026 FDD

      Our summary: Mean annual loyalty occupancy contribution

      “Average Marriott Bonvoy Contribution to 2025 Room Nights and Occupancy Average Number of Member Room Nights per Hotel 22,000 Average Annual Loyalty Program Contribution to Occupancy 60.4% Of the 155 Included Hotels, 64 hotels or 41.3% met or exceeded the average number of member room nights per hotel of 22,000; and 84 hotels or 54.2% met or exceeded the average loyalty program contribution to occupancy of 60.4%. The median number of member room nights was 21,000; and the median annual loyalty program contribution to occupancy was 61.2%. ”

      Note: Item 19 pages conflict on whether these member room-night figures include redeemed nights, so the applicable methodology is unsettled.

    • Item 19 · PDF p. 123 · 2026 FDD

      Our summary: Mean member room nights per hotel

      “Average Marriott Bonvoy Contribution to 2025 Room Nights and Occupancy Average Number of Member Room Nights per Hotel 22,000 Average Annual Loyalty Program Contribution to Occupancy 60.4% Of the 155 Included Hotels, 64 hotels or 41.3% met or exceeded the average number of member room nights per hotel of 22,000; and 84 hotels or 54.2% met or exceeded the average loyalty program contribution to occupancy of 60.4%. The median number of member room nights was 21,000; and the median annual loyalty program contribution to occupancy was 61.2%. ”

      Note: Item 19 pages conflict on whether these member room-night figures include redeemed nights, so the applicable methodology is unsettled.

    • Item 19 · PDF p. 123 · 2026 FDD

      Our summary: Share meeting loyalty occupancy mean

      “Average Marriott Bonvoy Contribution to 2025 Room Nights and Occupancy Average Number of Member Room Nights per Hotel 22,000 Average Annual Loyalty Program Contribution to Occupancy 60.4% Of the 155 Included Hotels, 64 hotels or 41.3% met or exceeded the average number of member room nights per hotel of 22,000; and 84 hotels or 54.2% met or exceeded the average loyalty program contribution to occupancy of 60.4%. The median number of member room nights was 21,000; and the median annual loyalty program contribution to occupancy was 61.2%. ”

      Note: The Item 19 discussion conflicts on whether loyalty member room-night figures include redeemed nights, leaving this measure's methodology unsettled.

    • Item 19 · PDF p. 123 · 2026 FDD

      Our summary: Hotels meeting mean member nights

      “Average Marriott Bonvoy Contribution to 2025 Room Nights and Occupancy Average Number of Member Room Nights per Hotel 22,000 Average Annual Loyalty Program Contribution to Occupancy 60.4% Of the 155 Included Hotels, 64 hotels or 41.3% met or exceeded the average number of member room nights per hotel of 22,000; and 84 hotels or 54.2% met or exceeded the average loyalty program contribution to occupancy of 60.4%. The median number of member room nights was 21,000; and the median annual loyalty program contribution to occupancy was 61.2%. ”

      Note: Item 19 pages conflict on whether these member room-night figures include redeemed nights, so the applicable methodology is unsettled.

    • Item 19 · PDF p. 123 · 2026 FDD

      Our summary: Median member room nights

      “Average Marriott Bonvoy Contribution to 2025 Room Nights and Occupancy Average Number of Member Room Nights per Hotel 22,000 Average Annual Loyalty Program Contribution to Occupancy 60.4% Of the 155 Included Hotels, 64 hotels or 41.3% met or exceeded the average number of member room nights per hotel of 22,000; and 84 hotels or 54.2% met or exceeded the average loyalty program contribution to occupancy of 60.4%. The median number of member room nights was 21,000; and the median annual loyalty program contribution to occupancy was 61.2%. ”

      Note: The Item 19 discussion conflicts on whether loyalty member room-night figures include redeemed nights, leaving this measure's methodology unsettled.

    • Item 19 · PDF p. 123 · 2026 FDD

      Our summary: Share meeting member nights mean

      “Average Marriott Bonvoy Contribution to 2025 Room Nights and Occupancy Average Number of Member Room Nights per Hotel 22,000 Average Annual Loyalty Program Contribution to Occupancy 60.4% Of the 155 Included Hotels, 64 hotels or 41.3% met or exceeded the average number of member room nights per hotel of 22,000; and 84 hotels or 54.2% met or exceeded the average loyalty program contribution to occupancy of 60.4%. The median number of member room nights was 21,000; and the median annual loyalty program contribution to occupancy was 61.2%. ”

      Note: Item 19 pages conflict on whether these member room-night figures include redeemed nights, so the applicable methodology is unsettled.

    • Item 20 · PDF p. 130 · 2026 FDD

      Our summary: Table 3 Start of year — Maryland 2023

      “Maryland 2023 2024 2025 3 3 3 3 3 3 ”

      Note: Item 20 claim is state/geography-specific or not a national/systemwide Total row; it cannot be verified under the required scope.

    • Item 20 · PDF p. 130 · 2026 FDD

      Our summary: Table 3 End of year — Outlets at End of the Year Louisiana 2025

      “Outlets at End of the Year Louisiana 2023 2024 2025 1 1 1 1 1 1 ”

      Note: This Item 20 claim is state-specific; the permitted review scope is national/systemwide Total rows only.

    • Item 20 · PDF p. 130 · 2026 FDD

      Our summary: Table 3 End of year — Maine 2023

      “Maine 2023 2024 2025 1 1 1 1 1 1 ”

      Note: This is a state-level Item 20 figure. The review scope verifies only national/systemwide Total rows, so this claim remains unsupported under that scope.

    • Item 20 · PDF p. 130 · 2026 FDD

      Our summary: Table 3 End of year — Maine 2024

      “Maine 2023 2024 2025 1 1 1 1 1 1 ”

      Note: This is a state-level Item 20 figure. The review scope verifies only national/systemwide Total rows, so this claim remains unsupported under that scope.

    • Item 20 · PDF p. 130 · 2026 FDD

      Our summary: Table 3 Start of year — Maine 2024

      “Maine 2023 2024 2025 1 1 1 1 1 1 ”

      Note: This is a state-level Item 20 figure. The review scope verifies only national/systemwide Total rows, so this claim remains unsupported under that scope.

    • Item 20 · PDF p. 129 · 2026 FDD

      Our summary: Table 3 Start of year — Outlets at End of the Year Alabama 2023

      “Outlets at End of the Year Alabama 2023 2024 2025 1 1 1 1 1 1 ”

      Note: This is a state-level Item 20 figure. The review scope verifies only national/systemwide Total rows, so this claim remains unsupported under that scope.

    • Item 20 · PDF p. 130 · 2026 FDD

      Our summary: Table 3 End of year — Maine 2025

      “Maine 2023 2024 2025 1 1 1 1 1 1 ”

      Note: This is a state-level Item 20 figure. The review scope verifies only national/systemwide Total rows, so this claim remains unsupported under that scope.

    • Item 20 · PDF p. 130 · 2026 FDD

      Our summary: Table 3 Start of year — Maine 2025

      “Maine 2023 2024 2025 1 1 1 1 1 1 ”

      Note: This is a state-level Item 20 figure. The review scope verifies only national/systemwide Total rows, so this claim remains unsupported under that scope.

    • Item 20 · PDF p. 132 · 2026 FDD

      Our summary: Table 4 Start of year — Outlets at End of the Year Massachusetts 2025

      “Outlets at End of the Year Massachusetts 2023 2024 2025 1 1 1 1 1 1 ”

      Note: Item 20 state- or ownership-specific row; only national/systemwide Total rows are eligible for verification.

    • Item 20 · PDF p. 132 · 2026 FDD

      Our summary: Table 4 Start of year — Rhode Island 2023

      “Rhode Island 2023 2024 2025 1 1 1 1 1 1 ”

      Note: Item 20 state- or ownership-specific row; only national/systemwide Total rows are eligible for verification.

    • Item 21 · PDF p. 322 · 2026 FDD

      Our summary: Note receivable and accrued interest from Member — 2025

      “Note receivable and accrued interest from Member (7,153) (6,740)”

      Note: The cited value could not be confirmed in the 2025 column on PDF page 322.

    Independent analysis of franchisor-provided data. Not investment advice. Franopolis does not distribute FDDs.