Franopolis

    Choice Hotels International

    Franchise research report · reviewed 2026 disclosure data

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

    Reviewed sources
    Franchising since
    1941
    Source: franchise.org
    Headquarters
    Rockville, MD United States
    Source: franchise.org

    Radisson and Radisson Inn & Suites franchise hotels operate as upscale and mid-scale lodging brands under Choice Hotels International, offering travelers comfor

    Headline figures

    Quick facts

    How much does it cost to open a Choice Hotels International franchise?
    The Choice Hotels International Franchise Disclosure Document reports separate estimated initial investments by format: $9,490,495–$55,271,100 for total initial investment excluding real estate — lower estimate (2026 FDD, Item 7, PDF p. 49); $52,725–$307,062 for does not include real estate total cost per room (based on 180 rooms) (2026 FDD, Item 7, PDF p. 49). These formats are not combined. Each is the franchisor's disclosed estimate, not a quote. Details
    What ongoing fees does Choice Hotels International charge?
    The disclosed ongoing royalty is 6% (2026 FDD, Item 6, PDF p. 33). The brand or advertising fund contribution is $10 (2026 FDD, Item 6, PDF p. 35). Other recurring fees are listed in Item 6. Details
    Does Choice Hotels International disclose financial performance (Item 19)?
    Yes. The Choice Hotels International FDD includes an Item 19 financial performance representation (2026 FDD, Item 19, PDF p. 78). Figures apply only to the locations and period each one covers. Details
    How many Choice Hotels International locations are there?
    The FDD reports 46 outlets at the end of 2025 (2026 FDD, Item 20, PDF p. 81). 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: $9,490,495 – $55,271,100 (Total initial investment excluding real estate — lower estimate); $52,725 – $307,062 (Does not include real estate Total Cost Per Room (based on 180 rooms)); several initial fee options apply.
    2. 2Item 19 covers 2 separate groups: other measures for 39 Franchised; company owned/managed excluded locations; other measures for 16 Franchised; company owned/managed excluded locations. They are not combined.
    3. 3Outlets held steady in 2025, to 46 (United States, 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.

    • Does not include real estate Total Cost Per Room (based on 180 rooms)PDF p. 49$52,725 – $307,062
    • Total initial investment excluding real estate — lower estimatePDF p. 49$9,490,495 – $55,271,100

    Ongoing Fees — Item 6

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

    Royalty Fee: percent of preceding month's Gross Room Revenues, payable monthlyMain ongoing fee

    97 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?

    Two separate populations, not a revenue-and-profit comparison. Revenue is not owner income.

    Locations counted: not stated in the reviewed record

    Other measures · 39 locations

    Who is counted
    All qualifying franchised Radisson hotels
    Period
    Average Occupancy Rate Mean
    Excluded
    Repositioned hotels, incomplete data at least 30 days, interruptions over 30 consecutive days excluded.
    Method
    Individual owner-reported performance, no expenses deducted. LTR uses approved Choice guest surveys, excludes third-party/social reviews.

    Locations counted: not stated in the reviewed record

    Other measures · 16 locations

    Who is counted
    Qualifying franchised Radisson hotels with above-brand-average likelihood to recommend
    Period
    Average Occupancy Rate Mean
    Excluded
    Repositioned hotels, incomplete data at least 30 days, interruptions over 30 consecutive days excluded.
    Method
    Individual owner-reported performance, no expenses deducted. LTR uses approved Choice guest surveys, excludes third-party/social reviews.

    These groups are never combined.

    Outlet Changes — Item 20

    How has the outlet count changed?

    United States, as labeled in the FDD · counts as of 2025 of each year.

    2026 FDD · Item 20 · PDF p. 81

    Net −6 outlets, 2023–2025

    0522023462024462025−60

    Year-end counts reported in Item 20. The scale starts at zero; 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 ($52,725 – $55,271,100) 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 46 to 46 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]Item 19 — Locations counted not stated in the reviewed record — All qualifying franchised Radisson hotels · PDF p. 78
    2. [2]Item 19 — Locations counted not stated in the reviewed record — Qualifying franchised Radisson hotels with above-brand-average likelihood to re… · PDF p. 79
    3. [3]Outlet counts — Item 20, Table 1 · PDF p. 81

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

    Territory & operations

    68 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.

    Legal & agreement

    Franchisor financial statements

    Fiscal yearMeasureReported value
    2025prepaid expenses and other current assets$45,368
    2025total current assets$405,998
    2025property and equipment, net$649,291
    2025operating lease right-of-use assets$77,670
    2025partnership services and fees$113,789
    2025total revenues$1,596,793
    2025business combination, diligence and transition costs$4,701
    2025depreciation and amortizationMore than one value recorded for this year — open the FDD source before comparing$59,715
    2025reimbursable expenses from franchised and managed properties$663,336
    2025total operating expenses$1,148,394
    2025operating income$448,399
    2025interest income-$6,237
    2025other-$6,989
    2025equity in net lossMore than one value recorded for this year — open the FDD source before comparing$14,324
    2025income before income taxes$456,891
    2025income tax expense$86,945
    2025net income$369,946
    2025cash and cash equivalents$44,997
    2025goodwill$305,758
    2025intangible assets, net$1,082,486
    2025investments for employee benefit plans, at fair value$50,227
    2025investments in affiliates$134,975
    2025deferred income taxesMore than one value recorded for this year — open the FDD source before comparing$75,371
    2025total assets$2,918,203
    2025liabilities and shareholders' equity$156,276
    2025accrued expenses and other current liabilities$125,282
    2025deferred revenue$100,698
    2025liability for guest loyalty program$85,035
    2025long-term debt$1,906,122
    2025long-term deferred revenue$130,505
    2025deferred compensation and retirement plan obligations$56,532
    2025operating lease liabilities$107,963
    2025other liabilities$3,487
    2025total liabilities$2,736,974
    2025additional paid-in-capital$403,927
    2025accumulated other comprehensive loss-$5,307
    2025retained earnings$2,318,031
    2025total shareholders' equity$181,229
    2025total liabilities and shareholders' equity$2,918,203
    2025depreciation and amortizationMore than one value recorded for this year — open the FDD source before comparing$59,715
    2025franchise agreement acquisition cost amortization$31,966
    2025non-cash share-based compensation and other charges$38,254
    2025deferred income taxesMore than one value recorded for this year — open the FDD source before comparing$19,764
    2025equity in net lossMore than one value recorded for this year — open the FDD source before comparing$19,848
    2025franchise agreement acquisition costs, net of reimbursements-$83,444
    2025net cash provided by operating activities$270,447
    2025investments in owned hotel properties-$106,871
    2025issuances of notes receivable-$6,885
    2025collections of notes receivable$7,373
    2025business acquisition, net of cash acquired-$73,395
    2025distributions from sales of affiliates$44,617
    2025other items, net-$2,504
    2025net cash used in investing activities-$218,264
    2025purchases of treasury stock-$138,304
    2025dividends paid-$53,472
    2025net cash used in financing activities-$50,103
    2025net change in cash and cash equivalents$2,080
    2025effect of foreign exchange rate changes on cash and cash equivalents$2,740
    2025cash and cash equivalents, beginning of period$40,177
    2025cash and cash equivalents, end of period s$44,997
    2025income taxes receivable$13,456
    2025other assets$123,937
    2025net income s$369,946
    2025franchise and management fees$673,197
    2025operating expenses selling, general and dministrative$328,958
    2025total other expenses and-$8,492
    2025other expenses and$91,148
    2025v diluted earnings per share$8
    2025cash flows from investing activities investments in other property and equipment-$38,924
    2025non-cash interest, investments, and affiliate income, net-$6,439
    2025proceeds from the sale of assets$52,000
    2025cash flows from financing activities net borrowings$132,982
    2025total current liabilities$467,291
    2025change in working capital and other-$97,979
    2025contributions to investments in affiliates-$93,675
    2024prepaid expenses and other current assets$41,317
    2024total current assets$339,086
    2024property and equipment, net$604,345
    2024franchise and management fees$669,637
    2024operating expenses selling, general and dministrative$312,388
    2024business combination, diligence and transition costs$17,233
    2024depreciation and amortizationMore than one value recorded for this year — open the FDD source before comparing$51,953
    2024reimbursable expenses from franchised and managed properties$656,344
    2024total operating expenses$1,121,066
    2024operating income$463,773
    2024other expenses and$87,131
    2024other$1,641
    2024income before income taxes$395,645
    2024income tax expense$95,980
    2024net income$299,665
    2024v diluted earnings per share$6
    2024cash and cash equivalents$40,177
    2024intangible assets, net$884,013
    2024investments for employee benefit plans, at fair value$47,603
    2024other assets$93,836
    2024total assets$2,530,527
    2024accrued expenses and other current liabilities$136,729
    2024deferred revenue$102,114
    2024total current liabilities$462,721
    2024long-term debt$1,768,526
    2024long-term deferred revenue$132,259
    2024total liabilities$2,575,798
    2024additional paid-in-capital$370,201
    2024accumulated other comprehensive loss-$6,193
    2024retained earnings$2,001,297
    2024total shareholders' equity-$45,271
    2024total liabilities and shareholders' equity$2,530,527
    2024net income s$299,665
    2024franchise agreement acquisition cost amortization$28,702
    2024non-cash share-based compensation and other charges$43,250
    2024deferred income taxesMore than one value recorded for this year — open the FDD source before comparing-$19,028
    2024equity in net lossMore than one value recorded for this year — open the FDD source before comparing-$2,327
    2024franchise agreement acquisition costs, net of reimbursements-$112,164
    2024change in working capital and other$17,396
    2024net cash provided by operating activities$319,403
    2024cash flows from investing activities investments in other property and equipment-$39,102
    2024contributions to investments in affiliates-$52,768
    2024issuances of notes receivable-$37,994
    2024proceeds from sales of equity securities$108,149
    2024distributions from sales of affiliates$15,850
    2024net cash used in investing activities-$84,571
    2024purchases of treasury stock-$380,743
    2024dividends paid-$55,497
    2024net change in cash and cash equivalents$13,122
    2024cash and cash equivalents, end of period s$40,177
    2024income taxes receivable$5,419
    2024partnership services and fees$99,491
    2024total revenues$1,584,839
    2024interest income-$8,646
    2024equity in net lossMore than one value recorded for this year — open the FDD source before comparing-$12,329
    2024depreciation and amortizationMore than one value recorded for this year — open the FDD source before comparing$51,953
    2024investments in affiliates$117,016
    2024non-cash interest, investments, and affiliate income, net-$7,282
    2024goodwill$220,187
    2024liability for guest loyalty program$89,013
    2024operating lease liabilities$113,255
    2024other liabilities$5,114
    2024deferred compensation and retirement plan obligations$53,316
    2024total other expenses and$68,128
    2024operating lease right-of-use assets$83,451
    2024liabilities and shareholders' equity$134,865
    2024other items, net-$4,056
    2024cash and cash equivalents, beginning of period$26,754
    2024deferred income taxesMore than one value recorded for this year — open the FDD source before comparing$108,308
    2024collections of notes receivable$32,100
    2024net cash used in financing activities-$221,710
    2024effect of foreign exchange rate changes on cash and cash equivalents$301
    2024investments in owned hotel properties-$106,750
    2024cash flows from financing activities net borrowings$111,500
    2023franchise and management fees$652,060
    2023total revenues$1,544,165
    2023operating expenses selling, general and dministrative$312,701
    2023business combination, diligence and transition costs$55,778
    2023depreciation and amortizationMore than one value recorded for this year — open the FDD source before comparing$45,038
    2023reimbursable expenses from franchised and managed properties$680,410
    2023impairment of long-lived assets-$3,736
    2023operating income$375,028
    2023other expenses and$63,780
    2023interest income-$7,764
    2023other-$10,649
    2023equity in net lossMore than one value recorded for this year — open the FDD source before comparing-$2,879
    2023total other expenses and$38,072
    2023income before income taxes$336,956
    2023net income$258,507
    2023net income s$258,507
    2023franchise agreement acquisition cost amortization$20,024
    2023non-cash share-based compensation and other charges$46,809
    2023non-cash interest, investments, and affiliate income, net-$8,747
    2023equity in net lossMore than one value recorded for this year — open the FDD source before comparing-$1,570
    2023change in working capital and other$6,128
    2023net cash provided by operating activities$296,554
    2023cash flows from investing activities investments in other property and equipment-$47,717
    2023investments in owned hotel properties-$68,560
    2023contributions to investments in affiliates-$38,930
    2023issuances of notes receivable-$4,323
    2023collections of notes receivable$10,852
    2023distributions from sales of affiliates$868
    2023other items, net-$5,396
    2023net cash used in investing activities-$265,626
    2023cash flows from financing activities net borrowings-$131,500
    2023purchases of treasury stock-$362,772
    2023dividends paid-$56,457
    2023net cash used in financing activities-$45,937
    2023net change in cash and cash equivalents-$15,009
    2023effect of foreign exchange rate changes on cash and cash equivalents$197
    2023cash and cash equivalents, end of period s$26,754
    2023depreciation and amortizationMore than one value recorded for this year — open the FDD source before comparing$45,038
    2023franchise agreement acquisition costs, net of reimbursements-$98,316
    2023partnership services and fees$91,790
    2023v diluted earnings per share$5
    2023total operating expenses$1,165,401
    2023income tax expense$78,449
    2023deferred income taxes-$1,336
    2023cash and cash equivalents, beginning of period$41,566
    2023purchases of equity securities-$112,420
    —owned hotels revenueMore than one value recorded for this year — open the FDD source before comparing$121,373
    —owned hotels revenueMore than one value recorded for this year — open the FDD source before comparing$97,641
    —other revenueMore than one value recorded for this year — open the FDD source before comparing$64,060
    —other revenueMore than one value recorded for this year — open the FDD source before comparing$55,097
    —revenue for reimbursable costs from franchised and managed propertiesMore than one value recorded for this year — open the FDD source before comparing$638,192
    —accounts receivables, net of allowance for credit lossesMore than one value recorded for this year — open the FDD source before comparing$176,672
    —noncurrent notes receivable, net of allowance for credit lossesMore than one value recorded for this year — open the FDD source before comparing$32,682
    —noncurrent liability for guest loyalty programMore than one value recorded for this year — open the FDD source before comparing$39,771
    —depreciation and amortizationMore than one value recorded for this year — open the FDD source before comparing$18,907
    —proceeds from exercise of stock optionsMore than one value recorded for this year — open the FDD source before comparing$17,525
    —current notes receivable, net of credit-loss allowanceMore than one value recorded for this year — open the FDD source before comparing$94,686
    —current notes receivable, net of credit-loss allowanceMore than one value recorded for this year — open the FDD source before comparing$75,501
    —revenue for reimbursable costs from franchised and managed propertiesMore than one value recorded for this year — open the FDD source before comparing$616,204
    —owned hotels operating expenseMore than one value recorded for this year — open the FDD source before comparing$91,684
    —owned hotels revenueMore than one value recorded for this year — open the FDD source before comparing$113,459
    —noncurrent notes receivable, net of allowance for credit lossesMore than one value recorded for this year — open the FDD source before comparing$12,490
    —owned hotels operating expenseMore than one value recorded for this year — open the FDD source before comparing$83,148
    —other revenueMore than one value recorded for this year — open the FDD source before comparing$72,230
    —treasury stock at costMore than one value recorded for this year — open the FDD source before comparing-$2,536,373
    —revenue for reimbursable costs from franchised and managed propertiesMore than one value recorded for this year — open the FDD source before comparing$647,577
    —owned hotels operating expenseMore than one value recorded for this year — open the FDD source before comparing$71,474
    —accounts receivables, net of allowance for credit lossesMore than one value recorded for this year — open the FDD source before comparing$207,491
    —depreciation and amortizationMore than one value recorded for this year — open the FDD source before comparing$19,554
    —proceeds from exercise of stock optionsMore than one value recorded for this year — open the FDD source before comparing$6,841
    —noncurrent liability for guest loyalty programMore than one value recorded for this year — open the FDD source before comparing$40,607
    —proceeds from exercise of stock optionsMore than one value recorded for this year — open the FDD source before comparing$6,345
    —treasury stock at costMore than one value recorded for this year — open the FDD source before comparing-$2,411,527
    —depreciation and amortizationMore than one value recorded for this year — open the FDD source before comparing$30,697

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

    SBA-backed loans to franchisees

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

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    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

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