Homewood Suites is an all-suite hotel offering accommodations for both business and leisure travelers. The franchise provides guests with full kitchens and complimentary meals during their stay.
Key Insights
- Homewood Suites by Hilton began with a focus on providing extended-stay travelers with spacious suites and amenities that offer a residential feel, aiming to meet the needs of guests seeking comfort and convenience for longer durations.
- The franchise operates by offering fully-equipped suites featuring separate living and sleeping areas, kitchens, and complimentary amenities like Wi-Fi and a daily hot breakfast, catering to both business and leisure travelers on extended stays.
- The business participates in the lodging industry, specifically the extended-stay segment, which serves a segment of travelers who require accommodations for multiple nights and prefer home-like features in their hotel experience.
Franchise Fee and Costs to Open
Exploring the financial picture of Homewood Suites gives insight into both the upfront commitment and the potential revenue opportunity. According to FDD Item 7, opening this franchise typically involves an investment in the range of $20,824,955 - $32,522,797, along with a franchise fee of $100,000 - $100,000.
Financial Performance and Revenue
Training and Resources
Homewood Suites provides new franchisees with comprehensive training and resources. The initial training program lasts for five weeks and is held at the Homewood Suites corporate headquarters. This program offers guidance on brand standards and operational best practices. Homewood Suites also recommends ongoing support and access to a dedicated franchise consultant.
Legal Considerations
Legal considerations for a Homewood Suites franchisee are outlined in the Franchise Disclosure Document (FDD) and the Franchise Agreement. Note that this franchise discloses lawsuits and/or bankruptcy information in its FDD, which may impact your evaluation. Subscribe now to access more details and be sure to consult a qualified attorney before proceeding.
Challenges and Risks
Franchisees may encounter challenges related to understanding the local market and its competitive landscape. Ensuring consistent service delivery across all operations requires meticulous attention to detail. Furthermore, dependence on specific suppliers for goods and services introduces considerations for supply chain reliability and cost fluctuations.
Franchise Datasheet
FAQs
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