WoodSpring Suites FDD – Franchise Information, Costs and Fees


Type of Business
The franchise offered is for the right to construct and operate a WOODSPRING SUITES property under the name and primary business trademark of “WOODSPRING SUITES®”. A WOODSPRING SUITES hotel offers customers the value of a furnished room with kitchen facilities, together with terms and conditions, services and amenities associated with extended-stay hotels, including easy check-in, one-week stays, and periodic housekeeping. Some franchisees may be awarded a Master Development Agreement, which will allow them to develop multiple properties over a period of time in an agreed upon territory.


Corporate Information
Choice Hotels International, Inc. is a Delaware corporation formed on January 8, 1963, under the name Quality Inns International, Inc. They changed their corporate name to Choice Hotels International, Inc. on July 25, 1990. From November 1, 1996 to October 15, 1997, their corporate name was Choice Hotels Franchising, Inc. Their corporate name has been Choice Hotels International, Inc. since October 15, 1997. Their principal business address is 915 Meeting Street, Suite 600, North Bethesda, Maryland 20852.


Investment
The total investment necessary to construct and begin operation of a WoodSpring Suites franchise ranges from $8,461,190 to $11,236,342, assuming the WOODSPRING SUITES hotel contains approximately 122 guestrooms and excludes the cost of real estate. This includes between $76,599 to $101,500 that must be paid to Choice as follows: an Affiliation Fee of $50,000 minimum for new franchises and $60,000 minimum for transfers or renewals; payment of a Construction Advisory Services Agreement of $20,000 for five site visits by the franchisor and payable at the time you start construction of your hotel; training fees of $599 to $1,500 for one attendee; and approximately $6,000 to $30,000 in pre-opening supplies and equipment, including the purchase of a property management system software license and systems training fee of between $5,250 and $7,250. These sums do not include the cost of purchasing or leasing land or any real estate taxes.


WoodSpring Suites FDD

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