WoodSpring Suites FDD – Franchise Information, Costs and Fees
Type of Business
Choice Hotels International, Inc. will grant an approved Franchisee a franchise to operate a WoodSpring Suites property, which 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.
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 1 Choice Hotels Circle, Suite 400, Rockville, Maryland 20850.
The total investment necessary to begin operation of a WoodSpring Suites franchise ranges from $6,489,084 to $7,953,352. This includes between $50,000 to $81,799 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; and training fees of $0 to $1,790 for one attendee. These sums do not include the cost of purchasing or leasing land or any real estate taxes.