Franopolis
    HP

    Hyatt Place Hotels

    Franchise research report · reviewed 2026 disclosure data

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

    Reviewed sources

    Hyatt Place offers hotel rooms with spaces for work and relaxation. Its properties serve business and leisure travelers with dining options, breakfast, fitness facilities and areas for socializing.

    Headline figures

    Quick facts

    How much does it cost to open a Hyatt Place Hotels franchise?
    The Hyatt Place Hotels Franchise Disclosure Document reports an estimated initial investment of $23,431,820–$29,885,898 (2026 FDD, Item 7, PDF p. 39). This is the franchisor's disclosed estimate, not a quote. Details
    What ongoing fees does Hyatt Place Hotels charge?
    The disclosed ongoing royalty is $5 (2026 FDD, Item 6, PDF p. 22). The brand or advertising fund contribution is $1,027 (2026 FDD, Item 6, PDF p. 28). Other recurring fees are listed in Item 6. Details
    Does Hyatt Place Hotels disclose financial performance (Item 19)?
    Yes. The Hyatt Place Hotels FDD includes an Item 19 financial performance representation (2026 FDD, Item 19, PDF p. 84). Figures apply only to the locations and period each one covers. Details
    How many Hyatt Place Hotels locations are there?
    The FDD reports 347 outlets at the end of 2025 (2026 FDD, Item 20, PDF p. 91). Existing locations do not indicate territory availability. Details

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

    What the disclosures show

    1. 1Opening costs are estimated at $23,431,820 – $29,885,898 in the 2026 FDD (Item 7); several initial fee options apply.
    2. 2Item 19 covers 9 separate groups: other measures for 321 Franchisee owned/operated; possible affiliate joint ventures below 50% locations; other measures for 25 Affiliate owns at least 50% or manages third party locations; other measures for 346 Combined franchised and owned/managed locations; other measures for 82 Franchisee owned/operated; possible affiliate joint ventures below 50% locations; other measures for 6 Affiliate owns at least 50% or manages third party locations; other measures for 88 Combined franchised and owned/managed locations; other measures for 346 locations; other measures for 361 locations; other measures for 88 locations. They are not combined.
    3. 3Outlets grew by 5 in 2025, to 347 (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

    Total estimated initial investment

    2026 FDD · Item 7 · PDF p. 39

    Ongoing Fees — Item 6

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

    Royalty monthly gross rooms revenueMain ongoing fee

    84 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?

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

    Locations counted: not stated in the reviewed record

    Other measures · 321 locations

    Who is counted
    Franchised Covered Hotels
    Period
    Mean occupancy
    Excluded
    346 full-year hotels of 361; 11 opened during 2025 and four temporarily closed excluded. Urban subset: 88 in densely populated metropolitan areas. Expenses excluded from revenue figures.
    Method
    Occupancy=sold/available nights; ADR=gross rooms revenue/sold nights; RevPAR=gross rooms revenue/available nights; group metrics use aggregate revenue/nights. Unaudited internal financials except Smith Travel independently compiled indices; not profit.

    Locations counted: not stated in the reviewed record

    Other measures · 25 locations

    Who is counted
    Owned/Managed Covered Hotels
    Period
    Sample size
    Excluded
    346 full-year hotels of 361; 11 opened during 2025 and four temporarily closed excluded. Urban subset: 88 in densely populated metropolitan areas. Expenses excluded from revenue figures.
    Method
    Occupancy=sold/available nights; ADR=gross rooms revenue/sold nights; RevPAR=gross rooms revenue/available nights; group metrics use aggregate revenue/nights. Unaudited internal financials except Smith Travel independently compiled indices; not profit.

    Locations counted: not stated in the reviewed record

    Other measures · 346 locations

    Who is counted
    All Covered Hotels
    Period
    Mean occupancy
    Excluded
    346 full-year hotels of 361; 11 opened during 2025 and four temporarily closed excluded. Urban subset: 88 in densely populated metropolitan areas. Expenses excluded from revenue figures.
    Method
    Occupancy=sold/available nights; ADR=gross rooms revenue/sold nights; RevPAR=gross rooms revenue/available nights; group metrics use aggregate revenue/nights. Unaudited internal financials except Smith Travel independently compiled indices; not profit.

    Locations counted: not stated in the reviewed record

    Other measures · 82 locations

    Who is counted
    Franchised Urban Hotels
    Period
    Mean occupancy
    Excluded
    346 full-year hotels of 361; 11 opened during 2025 and four temporarily closed excluded. Urban subset: 88 in densely populated metropolitan areas. Expenses excluded from revenue figures.
    Method
    Occupancy=sold/available nights; ADR=gross rooms revenue/sold nights; RevPAR=gross rooms revenue/available nights; group metrics use aggregate revenue/nights. Unaudited internal financials except Smith Travel independently compiled indices; not profit.

    Locations counted: not stated in the reviewed record

    Other measures · 6 locations

    Who is counted
    Owned/Managed Urban Hotels
    Period
    Sample size
    Excluded
    346 full-year hotels of 361; 11 opened during 2025 and four temporarily closed excluded. Urban subset: 88 in densely populated metropolitan areas. Expenses excluded from revenue figures.
    Method
    Occupancy=sold/available nights; ADR=gross rooms revenue/sold nights; RevPAR=gross rooms revenue/available nights; group metrics use aggregate revenue/nights. Unaudited internal financials except Smith Travel independently compiled indices; not profit.

    Locations counted: not stated in the reviewed record

    Other measures · 88 locations

    Who is counted
    All Urban Hotels
    Period
    Mean occupancy
    Excluded
    346 full-year hotels of 361; 11 opened during 2025 and four temporarily closed excluded. Urban subset: 88 in densely populated metropolitan areas. Expenses excluded from revenue figures.
    Method
    Occupancy=sold/available nights; ADR=gross rooms revenue/sold nights; RevPAR=gross rooms revenue/available nights; group metrics use aggregate revenue/nights. Unaudited internal financials except Smith Travel independently compiled indices; not profit.

    Locations counted: not stated in the reviewed record

    Other measures · 346 locations

    Who is counted
    Covered Hotels
    Method
    As stated; urban means densely populated metropolitan areas; unaudited.

    Locations counted: not stated in the reviewed record

    Other measures · 361 locations

    Who is counted
    All Brand Hotels
    Method
    As stated; urban means densely populated metropolitan areas; unaudited.

    Locations counted: not stated in the reviewed record

    Other measures · 88 locations

    Who is counted
    Urban Hotels
    Method
    As stated; urban means densely populated metropolitan areas; unaudited.

    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 December 31, 2025 of each year.

    2026 FDD · Item 20 · PDF p. 91

    Net +6 outlets, 2023–2025

    0341202334220243472025+1+5

    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 ($23,431,820 – $29,885,898) 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 342 to 347 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]Estimated initial investment — Item 7 · PDF p. 39
    2. [2]Item 19 — Locations counted not stated in the reviewed record — Franchised Covered Hotels · PDF p. 84; PDF p. 86; PDF p. 85; PDF p. 87; PDF p. 88; PDF p. 89
    3. [3]Item 19 — Locations counted not stated in the reviewed record — Owned/Managed Covered Hotels · PDF p. 84; PDF p. 85; PDF p. 86; PDF p. 87; PDF p. 88; PDF p. 89
    4. [4]Item 19 — Locations counted not stated in the reviewed record — All Covered Hotels · PDF p. 84; PDF p. 85; PDF p. 86; PDF p. 87; PDF p. 88; PDF p. 89
    5. [5]Item 19 — Locations counted not stated in the reviewed record — Franchised Urban Hotels · PDF p. 84; PDF p. 85; PDF p. 86; PDF p. 87; PDF p. 88; PDF p. 89
    6. [6]Item 19 — Locations counted not stated in the reviewed record — Owned/Managed Urban Hotels · PDF p. 84; PDF p. 85; PDF p. 86; PDF p. 87; PDF p. 88; PDF p. 89
    7. [7]Item 19 — Locations counted not stated in the reviewed record — All Urban Hotels · PDF p. 84; PDF p. 85; PDF p. 86; PDF p. 87; PDF p. 88; PDF p. 89
    8. [8]Item 19 — Locations counted not stated in the reviewed record — Covered Hotels · PDF p. 83
    9. [9]Item 19 — Locations counted not stated in the reviewed record — All Brand Hotels · PDF p. 83
    10. [10]Item 19 — Locations counted not stated in the reviewed record — Urban Hotels · PDF p. 83
    11. [11]Outlet counts — Item 20, Table 1 · PDF p. 91

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

    Territory & operations

    404 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
    2025payment of withholding taxes for stock-based compensation-$27
    2025base management fees$446
    2025incentive management fees$272
    2025franchise and other fees$480
    2025contra revenueMore than one value recorded for this year — open the FDD source before comparing-$86
    2025net fees$1,112
    2025owned and leasedMore than one value recorded for this year — open the FDD source before comparing$1,375
    2025distributionMore than one value recorded for this year — open the FDD source before comparing$946
    2025total revenues$7,101
    2025general and administrative$555
    2025owned and leasedMore than one value recorded for this year — open the FDD source before comparing$1,122
    2025other direct costs$73
    2025transaction and integration costs$173
    2025depreciation and amortization$325
    2025reimbursed costs$3,682
    2025equity earnings-$46
    2025interest expense-$317
    2025gains-$15
    2025asset impairmentsMore than one value recorded for this year — open the FDD source before comparing-$40
    2025other income$101
    2025income before income taxes$81
    2025provision for income taxes-$130
    2025accumulated other comprehensive loss-$149
    2025net incomeMore than one value recorded for this year — open the FDD source before comparing-$52
    2025basic-$1
    2025cash and cash equivalents$787
    2025short-term investments$26
    2025inventories$8
    2025prepaids and other assetsMore than one value recorded for this year — open the FDD source before comparing$169
    2025prepaid income taxesMore than one value recorded for this year — open the FDD source before comparing$63
    2025total current assets$2,177
    2025equity method investments$186
    2025property and equipment, net$1,577
    2025operating lease right-of-use assets$328
    2025goodwill$3,454
    2025intangibles, net$2,229
    2025deferred tax assets$518
    2025other assets$3,125
    2025current maturities of long-term debt$6
    2025current contract liabilities$1,584
    2025accrued compensation and benefitsMore than one value recorded for this year — open the FDD source before comparing$226
    2025current operating lease liabilities$35
    2025long-term debt$4,272
    2025noncontrolling interests$325
    2025gains) losses on sales of real estate and other$15
    2025long-term operating lease liabilities$243
    2025total liabilities$10,377
    2025amortization of share awards$74
    2025deferred income taxes-$60
    2025asset impairmentsMore than one value recorded for this year — open the FDD source before comparing$40
    2025equity$46
    2025contra revenueMore than one value recorded for this year — open the FDD source before comparing$86
    2025contingent consideration liabilities fair value adjustments-$37
    2025payments for key money assets-$134
    2025other$173
    2025prepaid income taxesMore than one value recorded for this year — open the FDD source before comparing-$82
    2025prepaids and other assetsMore than one value recorded for this year — open the FDD source before comparing-$26
    2025other long-term assets-$11
    2025contract liabilities-$108
    2025operating lease liabilities-$35
    2025accrued compensation and benefitsMore than one value recorded for this year — open the FDD source before comparing$22
    2025other long-term liabilitiesMore than one value recorded for this year — open the FDD source before comparing-$28
    2025purchases of marketable securities and short-term investments-$714
    2025contributions to equity method and other investments-$82
    2025return of equity method and other investments$20
    2025capital expenditures-$220
    2025issuance of financing receivables-$16
    2025proceeds from financing receivables$14
    2025other investing activities$5
    2025dividends paid-$57
    2025net cash provided by$357
    2025repayments and repurchases of debt-$3,629
    2025repurchases of common stock-$293
    2025other financing activities-$28
    2025net cash used in financing activities-$954
    2025effect of exchange rate changes on cash-$9
    2025net increaseMore than one value recorded for this year — open the FDD source before comparing-$227
    2025beginning of year$1,015
    2025total stockholders' equity$3,334
    2025total equity$3,659
    2025retained earnings$3,482
    2025financing receivables net$442
    2025change in receivables net$58
    2025proceeds from debt net issuance costs$3,080
    2025long-term contract liabilities$1,012
    2025net incomeMore than one value recorded for this year — open the FDD source before comparing-$49
    2025gross fees$1,198
    2025other revenues$39
    2025diluted-$1
    2025total assets$14,036
    2025accounts payable$451
    2025accrued expenses and other current liabilities$592
    2025total current liabilities$2,894
    2025net cash provided by operating activities$379
    2025proceeds from marketable securities and short-term investments$958
    2025for reimbursed costs$3,629
    2025total direct and general and administrative expenses$6,753
    2025accounts payable, accrued expenses, and other current liabilities-$176
    2025receivables net$1,123
    2025gains) losses, net on marketable securities-$19
    2025distributionMore than one value recorded for this year — open the FDD source before comparing$823
    2025net gains$50
    2025restricted cash$1
    2025deferred revenue related to the loyalty program$271
    2025other long-term liabilitiesMore than one value recorded for this year — open the FDD source before comparing$1,956
    2025amortization of operating lease right-of-use assets$34
    2025proceeds from real estate sales and other net$1,666
    2025acquisitions, net of cash acquired-$1,274
    2025net increaseMore than one value recorded for this year — open the FDD source before comparing-$227
    2025end of year$788
    2024retained earnings$3,815
    2024noncontrolling interests$279
    2024base management fees$399
    2024incentive management fees$242
    2024franchise and other fees$458
    2024gross fees$1,099
    2024contra revenueMore than one value recorded for this year — open the FDD source before comparing-$69
    2024net fees$1,030
    2024owned and leasedMore than one value recorded for this year — open the FDD source before comparing$1,174
    2024other revenues$69
    2024for reimbursed costs$3,352
    2024total revenues$6,648
    2024owned and leasedMore than one value recorded for this year — open the FDD source before comparing$925
    2024distributionMore than one value recorded for this year — open the FDD source before comparing$875
    2024other direct costs$94
    2024transaction and integration costs$42
    2024reimbursed costs$3,457
    2024total direct and general and administrative expenses$6,274
    2024net gains$49
    2024equity earnings$31
    2024interest expense-$180
    2024asset impairmentsMore than one value recorded for this year — open the FDD source before comparing-$213
    2024other income$257
    2024provision for income taxes-$267
    2024net incomeMore than one value recorded for this year — open the FDD source before comparing$1,296
    2024basic$13
    2024diluted$13
    2024cash and cash equivalents$1,011
    2024accumulated other comprehensive loss-$269
    2024restricted cash$1
    2024inventories$8
    2024prepaids and other assetsMore than one value recorded for this year — open the FDD source before comparing$174
    2024prepaid income taxesMore than one value recorded for this year — open the FDD source before comparing$46
    2024equity method investments$189
    2024operating lease right-of-use assets$328
    2024intangibles, net$2,167
    2024deferred tax assets$466
    2024other assets$2,843
    2024total assets$13,324
    2024current maturities of long-term debt$456
    2024accounts payable$475
    2024accrued expenses and other current liabilities$565
    2024current contract liabilities$1,553
    2024accrued compensation and benefitsMore than one value recorded for this year — open the FDD source before comparing$192
    2024current operating lease liabilities$33
    2024total current liabilities$3,274
    2024long-term debt$3,326
    2024other long-term liabilitiesMore than one value recorded for this year — open the FDD source before comparing$1,810
    2024total liabilities$9,498
    2024amortization of share awards$64
    2024amortization of operating lease right-of-use assets$36
    2024deferred income taxes-$123
    2024asset impairmentsMore than one value recorded for this year — open the FDD source before comparing$213
    2024equity-$31
    2024contra revenueMore than one value recorded for this year — open the FDD source before comparing$69
    2024payments for key money assets-$153
    2024other$79
    2024prepaids and other assetsMore than one value recorded for this year — open the FDD source before comparing-$116
    2024other long-term assets-$6
    2024accounts payable, accrued expenses, and other current liabilities$56
    2024contract liabilities$48
    2024deferred revenue related to the loyalty program$203
    2024accrued compensation and benefitsMore than one value recorded for this year — open the FDD source before comparing-$6
    2024other long-term liabilitiesMore than one value recorded for this year — open the FDD source before comparing-$6
    2024net cash provided by operating activities$633
    2024purchases of marketable securities and short-term investments-$1,775
    2024proceeds from marketable securities and short-term investments$1,338
    2024contributions to equity method and other investments-$88
    2024return of equity method and other investments$62
    2024capital expenditures-$170
    2024issuance of financing receivables-$136
    2024proceeds from financing receivables$51
    2024dividends paid-$60
    2024repayments and repurchases of debt-$750
    2024repurchases of common stock-$1,190
    2024other financing activities$1
    2024net cash used in financing activities-$618
    2024effect of exchange rate changes on cash-$3
    2024net increaseMore than one value recorded for this year — open the FDD source before comparing$93
    2024net increaseMore than one value recorded for this year — open the FDD source before comparing$96
    2024beginning of year$919
    2024end of year$1,015
    2024total stockholders' equity$3,547
    2024total equity$3,826
    2024receivables net$1,121
    2024change in receivables net-$15
    2024proceeds from debt net issuance costs$1,424
    2024gains) losses on sales of real estate and other-$1,245
    2024gains) losses, net on marketable securities-$54
    2024goodwill$2,541
    2024distributionMore than one value recorded for this year — open the FDD source before comparing$1,023
    2024depreciation and amortization$333
    2024gains$1,245
    2024long-term operating lease liabilities$245
    2024operating lease liabilities-$35
    2024income before income taxes$1,563
    2024long-term contract liabilities$843
    2024acquisitions, net of cash acquired-$609
    2024short-term investments$372
    2024total current assets$2,733
    2024property and equipment, net$1,689
    2024prepaid income taxesMore than one value recorded for this year — open the FDD source before comparing$65
    2024general and administrative$548
    2024net incomeMore than one value recorded for this year — open the FDD source before comparing$1,296
    2024other investing activities-$13
    2024net cash provided by$81
    2024contingent consideration liabilities fair value adjustments-$39
    2024payment of withholding taxes for stock-based compensation-$43
    2024financing receivables net$368
    2024proceeds from real estate sales and other net$1,421
    2023base management fees$374
    2023incentive management fees$232
    2023franchise and other fees$364
    2023gross fees$970
    2023net fees$923
    2023owned and leasedMore than one value recorded for this year — open the FDD source before comparing$1,339
    2023distributionMore than one value recorded for this year — open the FDD source before comparing$1,047
    2023other revenues$300
    2023for reimbursed costs$3,058
    2023total revenues$6,667
    2023general and administrative$578
    2023owned and leasedMore than one value recorded for this year — open the FDD source before comparing$1,022
    2023other direct costs$336
    2023transaction and integration costs$42
    2023depreciation and amortization$397
    2023reimbursed costs$3,144
    2023total direct and general and administrative expenses$6,378
    2023net gains$55
    2023equity earnings-$1
    2023interest expense-$145
    2023asset impairmentsMore than one value recorded for this year — open the FDD source before comparing-$30
    2023other income$124
    2023income before income taxes$310
    2023provision for income taxes-$90
    2023net incomeMore than one value recorded for this year — open the FDD source before comparing$220
    2023net incomeMore than one value recorded for this year — open the FDD source before comparing$220
    2023basic$2
    2023diluted$2
    2023gains) losses on sales of real estate and other-$18
    2023amortization of share awards$75
    2023amortization of operating lease right-of-use assets$42
    2023asset impairmentsMore than one value recorded for this year — open the FDD source before comparing$30
    2023gains) losses, net on marketable securities-$34
    2023contingent consideration liabilities fair value adjustments$9
    2023payments for key money assets-$132
    2023other$85
    2023prepaids and other assets-$66
    2023other long-term assets-$92
    2023accounts payable, accrued expenses, and other current liabilities-$29
    2023contract liabilities$290
    2023deferred revenue related to the loyalty program$202
    2023operating lease liabilities-$43
    2023accrued compensation and benefits-$22
    2023other long-term liabilities-$13
    2023purchases of marketable securities and short-term investments-$483
    2023proceeds from marketable securities and short-term investments$576
    2023contributions to equity method and other investments-$43
    2023return of equity method and other investments$7
    2023acquisitions, net of cash acquired-$175
    2023capital expenditures-$198
    2023proceeds from financing receivables$1
    2023dividends paid-$47
    2023net cash provided by-$365
    2023repayments and repurchases of debt-$660
    2023payment of withholding taxes for stock-based compensation-$16
    2023net cash used in financing activities-$578
    2023effect of exchange rate changes on cash-$2
    2023net increaseMore than one value recorded for this year — open the FDD source before comparing-$148
    2023beginning of year$1,067
    2023end of year$919
    2023proceeds from real estate sales and other net-$10
    2023proceeds from debt net issuance costs$596
    2023contra revenueMore than one value recorded for this year — open the FDD source before comparing-$47
    2023gains$18
    2023distributionMore than one value recorded for this year — open the FDD source before comparing$859
    2023prepaid income taxes-$24
    2023issuance of financing receivables-$43
    2023net increaseMore than one value recorded for this year — open the FDD source before comparing-$145
    2023net cash provided by operating activities$800
    2023equity$1
    2023contra revenueMore than one value recorded for this year — open the FDD source before comparing$47
    2023deferred income taxes-$125
    2023other investing activities$3
    2023other financing activities$2
    2023repurchases of common stock-$453

    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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    Compare reviewed facts

    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 6 · PDF p. 25 · 2026 FDD

      Our summary: Monthly late interest lesser legal maximum; interest after seven days

      “Late fee and interest $225 late fee plus lesser of 1½% per month or the highest rate law allows As incurred Late fee is due on all overdue amounts. Interest is due on all amounts more than 7 days late or not available for withdrawal by due date ”

      Note: The page gives this rate as 1½% per month; converting it to the extracted decimal would require a calculation.

    • Item 20 · PDF p. 91 · 2026 FDD

      Our summary: Table 1 Company-owned/managed 2025 — Start

      “2025 24 25 +1”

      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. 91 · 2026 FDD

      Our summary: Table 1 Franchised 2023 — Start

      “2023 309 317 +8”

      Note: This is a state-level row or a systemwide non-Total row. Item 20 checks are limited to national/systemwide Total rows.

    • Item 20 · PDF p. 91 · 2026 FDD

      Our summary: Table 1 Franchised 2023 — End

      “2023 309 317 +8”

      Note: This is a state-level row or a systemwide non-Total row. Item 20 checks are limited to national/systemwide Total rows.

    • Item 20 · PDF p. 91 · 2026 FDD

      Our summary: Table 1 Franchised 2025 — Start

      “2025 318 322 +4”

      Note: This is a systemwide non-Total row or a state-level transfer row. Item 20 checks are limited to national/systemwide Total rows.

    • Item 20 · PDF p. 91 · 2026 FDD

      Our summary: Table 1 Company-owned/managed 2025 — End

      “2025 24 25 +1”

      Note: This is a systemwide non-Total row or a state-level row. Item 20 checks are limited to national/systemwide Total rows.

    • Item 20 · PDF p. 91 · 2026 FDD

      Our summary: Table 1 Company-owned/managed 2024 — End

      “2024 24 24 0”

      Note: This is a systemwide Company-owned/managed row, not the Total Outlets row required for Item 20 checks.

    • Item 20 · PDF p. 91 · 2026 FDD

      Our summary: Table 1 Systemwide 2024 — Start

      “2024 341 342 +1”

      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. 91 · 2026 FDD

      Our summary: Table 1 Franchised 2024 — End

      “2024 317 318 +1”

      Note: This is a systemwide non-Total row or a state-level transfer row. Item 20 checks are limited to national/systemwide Total rows.

    • Item 20 · PDF p. 91 · 2026 FDD

      Our summary: Table 1 Company-owned/managed 2023 — Start

      “2023 24 24 0”

      Note: This is a state-level row or a systemwide non-Total row. Item 20 checks are limited to national/systemwide Total rows, so this claim cannot be confirmed under that rule.

    • Item 20 · PDF p. 91 · 2026 FDD

      Our summary: Table 1 Franchised 2025 — End

      “2025 318 322 +4”

      Note: This is a systemwide non-Total row or a state-level transfer row. Item 20 checks are limited to national/systemwide Total rows.

    • Item 20 · PDF p. 91 · 2026 FDD

      Our summary: Table 1 Company-owned/managed 2024 — Start

      “2024 24 24 0”

      Note: This is a systemwide Company-owned/managed row, not the Total Outlets row required for Item 20 checks.

    • Item 20 · PDF p. 91 · 2026 FDD

      Our summary: Table 1 Company-owned/managed 2023 — End

      “2023 24 24 0”

      Note: This is a state-level row or a systemwide non-Total row. Item 20 checks are limited to national/systemwide Total rows, so this claim cannot be confirmed under that rule.

    • Item 20 · PDF p. 91 · 2026 FDD

      Our summary: Table 1 Franchised 2024 — Start

      “2024 317 318 +1”

      Note: This is a systemwide non-Total row or a state-level transfer row. Item 20 checks are limited to national/systemwide Total rows.

    • Item 21 · PDF p. 112 · 2026 FDD

      Our summary: Gains) losses on sales of real estate and other — 2025

      “Gains) losses on sales of real estate and other 15 (1,245) (18)”

      Note: The cited quote is malformed: PDF p.112 reads “(Gains) losses on sales of real estate and other 15 (1,245) (18)”; the value is supported, but the claim's quote is not exact.

    • Item 21 · PDF p. 112 · 2026 FDD

      Our summary: Gains) losses on sales of real estate and other — 2023

      “Gains) losses on sales of real estate and other 15 (1,245) (18)”

      Note: The cited quote is malformed: PDF p.112 reads “(Gains) losses on sales of real estate and other 15 (1,245) (18)”; the value is supported, but the claim's quote is not exact.

    • Item 21 · PDF p. 112 · 2026 FDD

      Our summary: Gains) losses, net on marketable securities — 2023

      “Gains) losses, net on marketable securities (19) (54) (34)”

      Note: The cited quote omits the opening parenthesis; PDF p.112 reads “(Gains) losses, net on marketable securities (19) (54) (34)”. The value is supported, but the quote is not exact.

    • Item 21 · PDF p. 112 · 2026 FDD

      Our summary: Gains) losses on sales of real estate and other — 2024

      “Gains) losses on sales of real estate and other 15 (1,245) (18)”

      Note: The cited quote is malformed: PDF p.112 reads “(Gains) losses on sales of real estate and other 15 (1,245) (18)”; the value is supported, but the claim's quote is not exact.

    • Item 21 · PDF p. 112 · 2026 FDD

      Our summary: Gains) losses, net on marketable securities — 2024

      “Gains) losses, net on marketable securities (19) (54) (34)”

      Note: The cited quote omits the opening parenthesis; PDF p.112 reads “(Gains) losses, net on marketable securities (19) (54) (34)”. The value is supported, but the quote is not exact.

    • Item 21 · PDF p. 112 · 2026 FDD

      Our summary: Gains) losses, net on marketable securities — 2025

      “Gains) losses, net on marketable securities (19) (54) (34)”

      Note: The cited quote omits the opening parenthesis; PDF p.112 reads “(Gains) losses, net on marketable securities (19) (54) (34)”. The value is supported, but the quote is not exact.

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