Franopolis

    Sheraton Hotels & Resorts

    Franchise research report · reviewed 2026 disclosure data

    Reviewed sources

    Outdoor Collection by Marriott Bonvoy franchise brings unique outdoor hospitality experiences through glamping sites, treehouses, and cabin retreats under the t

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    Headline figures

    Sheraton Hotels & Resorts quick facts

    Is Sheraton Hotels & Resorts a franchise?
    Yes. Sheraton Hotels & Resorts offers franchises through a Franchise Disclosure Document. At the end of 2025, it reported 141 franchised and 24 company-owned outlets (2026 FDD, Item 20, PDF p. 123).
    How much does it cost to open a Sheraton Hotels & Resorts franchise?
    The Sheraton Hotels & Resorts Franchise Disclosure Document reports an estimated initial investment of $83,776,490–$136,115,890 (2026 FDD, Item 7, PDF p. 64). This is the franchisor's disclosed estimate, not a quote. Details
    Does Sheraton Hotels & Resorts disclose financial performance (Item 19)?
    Yes. The Sheraton Hotels & Resorts FDD includes an Item 19 financial performance representation (2026 FDD, Item 19, PDF p. 117). Figures apply only to the locations and period each one covers. Details
    How many Sheraton Hotels & Resorts locations are there?
    The FDD reports 165 outlets at the end of 2025 (2026 FDD, Item 20, PDF p. 123). Existing locations do not indicate territory availability. Details
    Is Sheraton Hotels & Resorts a good franchise to buy?
    Franopolis does not rate or recommend franchises. From the reviewed FDD: Item 19 includes financial performance figures; check which locations and period they cover; Item 20 lists outlet openings, closures and transfers; Item 6 includes a brand or advertising fund contribution on top of royalty; Item 20 also lists current and former franchisees you can contact. Review the full FDD with a franchise attorney and accountant before deciding.

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

    What the disclosures show

    1. 1Opening costs are estimated at $83,776,490 – $136,115,890 in the 2026 FDD (Item 7); several initial fee options apply.
    2. 2Item 19 covers 4 separate groups: other measures for 128 Franchised locations; other measures for 129 Franchised locations; revenue and other measures for 130 Franchised locations; memberships and other measures and revenue for 130 Franchised locations. They are not combined.
    3. 3Outlets declined by 1 in 2025, to 165 (United States and Canada, as labeled in the FDD, Item 20).

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

    Compare outlet trendsPut Item 20 counts side by side with up to 3 other brands.

    Sheraton Hotels & Resorts head-to-head

    Closest peers in the same subcategory, side by side from reviewed FDD figures. Not a ranking or recommendation.

    Sheraton Hotels & ResortsVSComfort Inn
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    Sheraton Hotels & ResortsVSQuality Inn
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    Sheraton Hotels & ResortsVSResidence Inn by Marriott
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    Sheraton Hotels & ResortsVSRed Roof Inn / Red Roof Plus
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    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. 64

    Standard single-unit franchise fee

    2026 FDD · Item 5 · PDF p. 55
    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.

    183 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?

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

    128 locations

    Other measures · 128 locations

    Who is counted
    STR Included franchised Sheraton hotels
    Excluded
    Open at least two years; excluded qualifying rooms/public-space renovations and expansions under Conditions.
    Method
    STR unaudited data; hotel-day reporting omissions excluded; CAD converted monthly to USD at Treasury second-to-last-day rate; formulas in source.

    These groups are never combined.

    Outlet Changes — Item 20

    How has the outlet count changed?

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

    2026 FDD · Item 20 · PDF p. 123

    Net −3 outlets, 2023–2025

    0168202316620241652025−2−1

    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 ($83,776,490 – $136,115,890) 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 decreased from 166 to 165 in 2025. What drove the change?

    • 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. 64
    2. [2]Standard initial franchise fee — Item 5 · PDF p. 55
    3. [3]Item 19 — Locations counted not stated in the reviewed record — STR Included franchised Sheraton hotels · PDF p. 117; PDF p. 118
    4. [4]Item 19 — Locations counted not stated in the reviewed record — 1-Year Comp franchised Sheraton hotels · PDF p. 118
    5. [5]Item 19 — Locations counted not stated in the reviewed record — Included franchised Sheraton hotels; reservations · PDF p. 119
    6. [6]Item 19 — Locations counted not stated in the reviewed record — Included franchised Sheraton hotels; Marriott Bonvoy · PDF p. 120
    7. [7]Outlet counts — Item 20, Table 1 · PDF p. 123

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

    Territory & operations

    190 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
    2025deferred income - current portion$2,603
    2025deferred income - non current portion$32,360
    2025note receivable and accrued interest from member-$7,153
    2025retained earnings$453,064
    2025current year earnings$79,457
    2025accounts receivable-$10,279
    2025contract investment amortization-$1,417
    2025amortization and depreciation expense$70
    2025total member's equity$545,368
    2025assets current assets accounts receivable, net$22,151
    2025total assets$582,261
    2025total current liabilities$4,533

    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.

    Related research

    Brands in the same subcategory first, then the wider industry, ordered by shared business format, overlapping investment range, Item 20 outlet count and search interest. This is not a ranking or recommendation.

    Comfort InnQuality InnResidence Inn by MarriottRed Roof Inn / Red Roof PlusRed Roof InnSpringHill Suites By Marriott

    Head-to-head comparisons

    Sheraton Hotels & Resorts vs Comfort InnSheraton Hotels & Resorts vs Quality InnSheraton Hotels & Resorts vs Residence Inn by MarriottSheraton Hotels & Resorts vs Red Roof Inn / Red Roof PlusSheraton Hotels & Resorts vs Red Roof InnSheraton Hotels & Resorts vs SpringHill Suites By Marriott
    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 20 · PDF p. 123 · 2026 FDD

      Our summary: Table 1 Franchised 2024 end

      “2026 Sheraton Domestic FDD Items 1-23 - #3925191v2 (03/31/2026) 115 ITEM 20 OUTLETS AND FRANCHISEE INFORMATION Table No. 1 SYSTEM-WIDE OUTLET SUMMARY FOR YEARS 2023 TO 2025 Column 1 Outlet Type Column 2 Year Column 3 Outlets at the Start of the Year Column 4 Outlets at the End of the Year Column 5 Net Change Franchised 2023 2024 2025 147 142 140 142 140 141 (5) (2) 1 Company-Owned, Managed and Leased 2023 2024 2025 25 26 26 26 26 24 1 0 (2) Total Outlets 2023 2024 2025 172 168 166 168 166 165 (4) (2) (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. 123 · 2026 FDD

      Our summary: Table 1 Company-owned, managed and leased 2025 end

      “2026 Sheraton Domestic FDD Items 1-23 - #3925191v2 (03/31/2026) 115 ITEM 20 OUTLETS AND FRANCHISEE INFORMATION Table No. 1 SYSTEM-WIDE OUTLET SUMMARY FOR YEARS 2023 TO 2025 Column 1 Outlet Type Column 2 Year Column 3 Outlets at the Start of the Year Column 4 Outlets at the End of the Year Column 5 Net Change Franchised 2023 2024 2025 147 142 140 142 140 141 (5) (2) 1 Company-Owned, Managed and Leased 2023 2024 2025 25 26 26 26 26 24 1 0 (2) Total Outlets 2023 2024 2025 172 168 166 168 166 165 (4) (2) (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. 123 · 2026 FDD

      Our summary: Table 1 Company-owned, managed and leased 2024 start

      “2026 Sheraton Domestic FDD Items 1-23 - #3925191v2 (03/31/2026) 115 ITEM 20 OUTLETS AND FRANCHISEE INFORMATION Table No. 1 SYSTEM-WIDE OUTLET SUMMARY FOR YEARS 2023 TO 2025 Column 1 Outlet Type Column 2 Year Column 3 Outlets at the Start of the Year Column 4 Outlets at the End of the Year Column 5 Net Change Franchised 2023 2024 2025 147 142 140 142 140 141 (5) (2) 1 Company-Owned, Managed and Leased 2023 2024 2025 25 26 26 26 26 24 1 0 (2) Total Outlets 2023 2024 2025 172 168 166 168 166 165 (4) (2) (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. 123 · 2026 FDD

      Our summary: Table 1 Company-owned, managed and leased 2023 end

      “2026 Sheraton Domestic FDD Items 1-23 - #3925191v2 (03/31/2026) 115 ITEM 20 OUTLETS AND FRANCHISEE INFORMATION Table No. 1 SYSTEM-WIDE OUTLET SUMMARY FOR YEARS 2023 TO 2025 Column 1 Outlet Type Column 2 Year Column 3 Outlets at the Start of the Year Column 4 Outlets at the End of the Year Column 5 Net Change Franchised 2023 2024 2025 147 142 140 142 140 141 (5) (2) 1 Company-Owned, Managed and Leased 2023 2024 2025 25 26 26 26 26 24 1 0 (2) Total Outlets 2023 2024 2025 172 168 166 168 166 165 (4) (2) (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. 123 · 2026 FDD

      Our summary: Table 1 Company-owned, managed and leased 2023 start

      “2026 Sheraton Domestic FDD Items 1-23 - #3925191v2 (03/31/2026) 115 ITEM 20 OUTLETS AND FRANCHISEE INFORMATION Table No. 1 SYSTEM-WIDE OUTLET SUMMARY FOR YEARS 2023 TO 2025 Column 1 Outlet Type Column 2 Year Column 3 Outlets at the Start of the Year Column 4 Outlets at the End of the Year Column 5 Net Change Franchised 2023 2024 2025 147 142 140 142 140 141 (5) (2) 1 Company-Owned, Managed and Leased 2023 2024 2025 25 26 26 26 26 24 1 0 (2) Total Outlets 2023 2024 2025 172 168 166 168 166 165 (4) (2) (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. 123 · 2026 FDD

      Our summary: Table 1 Franchised 2023 start

      “2026 Sheraton Domestic FDD Items 1-23 - #3925191v2 (03/31/2026) 115 ITEM 20 OUTLETS AND FRANCHISEE INFORMATION Table No. 1 SYSTEM-WIDE OUTLET SUMMARY FOR YEARS 2023 TO 2025 Column 1 Outlet Type Column 2 Year Column 3 Outlets at the Start of the Year Column 4 Outlets at the End of the Year Column 5 Net Change Franchised 2023 2024 2025 147 142 140 142 140 141 (5) (2) 1 Company-Owned, Managed and Leased 2023 2024 2025 25 26 26 26 26 24 1 0 (2) Total Outlets 2023 2024 2025 172 168 166 168 166 165 (4) (2) (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. 123 · 2026 FDD

      Our summary: Table 1 Company-owned, managed and leased 2024 end

      “2026 Sheraton Domestic FDD Items 1-23 - #3925191v2 (03/31/2026) 115 ITEM 20 OUTLETS AND FRANCHISEE INFORMATION Table No. 1 SYSTEM-WIDE OUTLET SUMMARY FOR YEARS 2023 TO 2025 Column 1 Outlet Type Column 2 Year Column 3 Outlets at the Start of the Year Column 4 Outlets at the End of the Year Column 5 Net Change Franchised 2023 2024 2025 147 142 140 142 140 141 (5) (2) 1 Company-Owned, Managed and Leased 2023 2024 2025 25 26 26 26 26 24 1 0 (2) Total Outlets 2023 2024 2025 172 168 166 168 166 165 (4) (2) (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. 123 · 2026 FDD

      Our summary: Table 1 Franchised 2023 end

      “2026 Sheraton Domestic FDD Items 1-23 - #3925191v2 (03/31/2026) 115 ITEM 20 OUTLETS AND FRANCHISEE INFORMATION Table No. 1 SYSTEM-WIDE OUTLET SUMMARY FOR YEARS 2023 TO 2025 Column 1 Outlet Type Column 2 Year Column 3 Outlets at the Start of the Year Column 4 Outlets at the End of the Year Column 5 Net Change Franchised 2023 2024 2025 147 142 140 142 140 141 (5) (2) 1 Company-Owned, Managed and Leased 2023 2024 2025 25 26 26 26 26 24 1 0 (2) Total Outlets 2023 2024 2025 172 168 166 168 166 165 (4) (2) (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. 123 · 2026 FDD

      Our summary: Table 1 Franchised 2025 start

      “2026 Sheraton Domestic FDD Items 1-23 - #3925191v2 (03/31/2026) 115 ITEM 20 OUTLETS AND FRANCHISEE INFORMATION Table No. 1 SYSTEM-WIDE OUTLET SUMMARY FOR YEARS 2023 TO 2025 Column 1 Outlet Type Column 2 Year Column 3 Outlets at the Start of the Year Column 4 Outlets at the End of the Year Column 5 Net Change Franchised 2023 2024 2025 147 142 140 142 140 141 (5) (2) 1 Company-Owned, Managed and Leased 2023 2024 2025 25 26 26 26 26 24 1 0 (2) Total Outlets 2023 2024 2025 172 168 166 168 166 165 (4) (2) (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. 123 · 2026 FDD

      Our summary: Table 1 Franchised 2024 start

      “2026 Sheraton Domestic FDD Items 1-23 - #3925191v2 (03/31/2026) 115 ITEM 20 OUTLETS AND FRANCHISEE INFORMATION Table No. 1 SYSTEM-WIDE OUTLET SUMMARY FOR YEARS 2023 TO 2025 Column 1 Outlet Type Column 2 Year Column 3 Outlets at the Start of the Year Column 4 Outlets at the End of the Year Column 5 Net Change Franchised 2023 2024 2025 147 142 140 142 140 141 (5) (2) 1 Company-Owned, Managed and Leased 2023 2024 2025 25 26 26 26 26 24 1 0 (2) Total Outlets 2023 2024 2025 172 168 166 168 166 165 (4) (2) (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. 123 · 2026 FDD

      Our summary: Table 1 Franchised 2025 end

      “2026 Sheraton Domestic FDD Items 1-23 - #3925191v2 (03/31/2026) 115 ITEM 20 OUTLETS AND FRANCHISEE INFORMATION Table No. 1 SYSTEM-WIDE OUTLET SUMMARY FOR YEARS 2023 TO 2025 Column 1 Outlet Type Column 2 Year Column 3 Outlets at the Start of the Year Column 4 Outlets at the End of the Year Column 5 Net Change Franchised 2023 2024 2025 147 142 140 142 140 141 (5) (2) 1 Company-Owned, Managed and Leased 2023 2024 2025 25 26 26 26 26 24 1 0 (2) Total Outlets 2023 2024 2025 172 168 166 168 166 165 (4) (2) (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. 123 · 2026 FDD

      Our summary: Table 1 Company-owned, managed and leased 2025 start

      “2026 Sheraton Domestic FDD Items 1-23 - #3925191v2 (03/31/2026) 115 ITEM 20 OUTLETS AND FRANCHISEE INFORMATION Table No. 1 SYSTEM-WIDE OUTLET SUMMARY FOR YEARS 2023 TO 2025 Column 1 Outlet Type Column 2 Year Column 3 Outlets at the Start of the Year Column 4 Outlets at the End of the Year Column 5 Net Change Franchised 2023 2024 2025 147 142 140 142 140 141 (5) (2) 1 Company-Owned, Managed and Leased 2023 2024 2025 25 26 26 26 26 24 1 0 (2) Total Outlets 2023 2024 2025 172 168 166 168 166 165 (4) (2) (1)”

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

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

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