Curio Collection by Hilton Franchise Cost, Revenue & Review 2026
Data from FDD filing
Analysis by FranchiseVerdict Research · Methodology
Curio Collection by Hilton is an upscale hotel franchise of independent, individually branded boutique properties. Franchisees own and operate the hotels, managing guest services and food and beverage while meeting Hilton's brand standards.
FranchiseVerdict summary · 2026
A Curio Collection by Hilton franchise does not disclose total investment in its current FDD, including a $85K franchise fee and an ongoing 5.0% royalty[2]. The 2023 FDD does not disclose unit-level revenue (no Item 19). FranchiseVerdict grade: B (Above average), an editorial assessment, not investment advice. Run a live ROI scan →
Data last verified · figures per the 2023 FDD issuance
Overview
- Investment
- $4.0M
- 32nd pct Lodging
- Avg gross sales
- N/A
- Royalty
- 5.0%
- 3rd pct Lodging
- Units
- 67
- 38th pct Lodging
- SBA charge-off
- N/A
Quick verdict · Lodging · color = vs category peers
Green = favorable by >10% vs Lodging avg · No shading = within ±10% · Red = unfavorable by >10% · Source: FDD filings + SBA 7(a)
Data from public FDD filings and SBA records. Not financial advice. Methodology
Bottom line
- COSTTotal investment $4.0M including a $85K franchise fee, 5.0% ongoing royalty.
- RETURNSItem 21 audited financials are for Hilton Franchise Holding LLC (the franchisor), audited consolidated statements as of Dec 31, 2022/2021, in thousands (scaled x1000). Total revenues FY2022 $1,229,465K = franchise royalty fees $1,184,827K + franchise sales/change-of-ownership fees $39,881K + franchise termination fees and other $4,757K (reported as other_revenue). Net income FY2022 $1,233,442K. Balance sheet reconciles: assets $1,163,908K = liabilities $501,845K + member's equity $662,063K. Auditor firm name not printed in extracted text (report signed Tysons Corner, VA, March 16, 2023).
- RISKVerdict B (Above average), verdict score 56/100 (higher is better).
- GROWTHSystem growing at 39.6% CAGR over 3 years with 67 total units. Strong expansion trajectory.
Item 1 · who you're contracting with
The Franchisor
Corporate structure & franchisor financials
- Legal entity
- Hilton Franchise Holding LLC
- Parent company
- Hilton Domestic Operating Company Inc.
- Ultimate parent
- Hilton Worldwide Holdings Inc.
- Predecessor
- Hilton Worldwide (offered Curio July 2, 2014 to October 14, 2014)
- Prior franchisor entity
- CEO title
- Chief Executive Officer and President
- Christopher J. Nassetta
- Incorporated in
- DE
- HQ
- 7930 Jones Branch Drive, Suite 1100, McLean, Virginia 22102
- Auditor
- CohnReznick LLP
- Audited financials
- Franchisor revenue
- $1.2B
- vs $883.3M prior year
- Management churn noted
- Frequent turnover
- Item 2 disclosed frequent executive changes
Overview
About
- CEO
- Christopher J. Nassetta
- Headquarters
- VA
- Founded
- 2007
- FDD year
- 2023
- States available
- 32
Can you afford it, and what does the money buy?
Source: FDD 2023 · Items 5–7
Item 7 · what it costs to open + operate
The Vitals
- Total investment
- $4.0M
- Top 40% of category vs category
- Liquid capital req'd
- $1.3M – $1.8M
- Bottom third — review vs category
- Franchise fee
- $85K
- Middle of category vs category
- Royalty
- 5.0%
- percentage · typical 6–8%
- Ad fund
- 4.0%
- typical 3–5%
- Total fee load
- 9.0%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 5.0% of gross sales |
| Marketing / ad fund | 4.0% of gross sales |
| Training fee | $5K |
| Transfer fee | $6K |
| Renewal fee | $85K |
| Inventory (initial) | $1.6M – $3.5M |
| Total fee load | 9.0% of rev |
What do units actually make?
Source: FDD 2023 · Item 19
ROI & LBO modelsSingle-unit · 25-unit portfolio · editable
Curio Collection by Hilton did not disclose financial performance in FDD Item 19. The ROIC and return models require Item 19 revenue. Without it all inputs are estimates. You can still run the calculator with your own assumptions by entering an expected revenue figure.
Returns model · single-unit ROIC
What would one Curio Collection by Hilton unit return on the cash you put in?
Unlevered ROIC · per unit
Estimated return on your total franchise investment, before any debt financing.
1%
Below the 30–60% attractive-franchise band
These models are for research and scenario planning only. Not investment advice. Actual results depend on your specific location, management, and market conditions. Consult a franchise attorney and accountant before signing any franchise agreement.
Item 19 · Source: 2023 FDD
Financial Performance
Item 21 audited financials are for Hilton Franchise Holding LLC (the franchisor), audited consolidated statements as of Dec 31, 2022/2021, in thousands (scaled x1000). Total revenues FY2022 $1,229,465K = franchise royalty fees $1,184,827K + franchise sales/change-of-ownership fees $39,881K + franchise termination fees and other $4,757K (reported as other_revenue). Net income FY2022 $1,233,442K. Balance sheet reconciles: assets $1,163,908K = liabilities $501,845K + member's equity $662,063K. Auditor firm name not printed in extracted text (report signed Tysons Corner, VA, March 16, 2023).
Operator outlook
What the numbers say
Data-driven interpretation of this brand's financial disclosures, fee structure, and system trajectory.
Fee burden
Total ongoing fee load of 9.0% (near the Lodging average).
Disclosure
Franchisor chose not to disclose financial performance representations. You will need to gather unit economics directly from existing franchisees.
Operator retention
System expanding at 39.6% CAGR over 3 years across 67 units — operators are staying and new ones are joining.
Source: FDD Item 19 financial performance representations and publicly filed FDD data. Past performance is not indicative of future results. Verify all figures with the franchisor and current franchisees before making any investment decision.
vs Lodging averages
How Curio Collection by Hilton Compares
Is the system healthy?
Source: FDD 2023 · Item 20
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 67
- Opened
- 5
- Last reporting year
- Closed
- 1
- Terminated
- 1
- Franchisor ended the franchise (per Item 20)
- Non-renewed
- 0
- Term expired, not renewed (per Item 20)
- Turnover rate
- 3.0%
- Company-owned
- 0
- Corporate units in the system
- % franchised
- 100%
- vs corporate-owned
- Net growth (3-yr)
- +39.6%
- Net unit change over 3 years
- 3-yr CAGR
- +39.6%
- Compounded over last 3 years
3-year detail · Item 20
- Opened (3yr)
- 4
- Closed (3yr)
- 0
- Terminated (3yr)
- 2
- Non-renewed (3yr)
- 0
- Transfers (3yr)
- 0
- Reacquired (3yr)
- 0
- Franchisor bought back
- Transfer rate
- 3.0%
- Owners selling to other franchisees
- Termination rate
- 1.5%
- Franchisor-initiated terminations
- Ceased ops
- 1.5%
- Units that stopped operating
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 32 states with active franchisees
The Territory Map
Derived from franchisee contact records. Shows states with at least one current operator. Not where the franchisor is registered to sell new units (that data is re-extracting in a future refresh).
States derived from franchisee contact records (FDD Item 20). Shows states with at least one current operator on file. Full state registration data (Item 12) will appear on a future FDD refresh.
Fast growth in a small system. Newer franchisors expanding quickly may not yet have the support infrastructure of larger systems.
SBA loan performance
Government records
SBA Loan Data
Aggregated from SBA 7(a) and 504 loan disclosures, public data unique to FranchiseVerdict.
No SBA loan data available for this brand.
What could kill this investment?
Source: SBA 7(a) FOIA · FDD Items 3, 21
Risk analysis
FranchiseVerdict rating + FDD Items 3, 4, 8, 16, 21
Risk & Legal
Curio Collection presents moderate-to-high risk due to missing financial transparency (no Item 19), active multi-category litigation, slow unit growth, and unprotected territory—unsuitable for franchisees requiring clear return projections.
Litigation (Item 3)
Pending: (1) State of Nebraska v. Hilton re mandatory resort fee disclosure; (2) Destin Platinum LLC v. Hampton Inns re franchise termination. Concluded: (3) Portland Hotel Ownership counterclaim re exclusivity fraud, settled 2022; (4) San Pedro Inn re wrongful termination NJ, settled 2020; (5) Kathleen Soule Hawaii class action re resort fees, settled 2015 for $178K; (6) US v. HWI ADA Consent Decree, expired 2015; (7) Starwood v. HHC trade secret misappropriation, settled 2010 for $75M; (8) US v. Hilton Hotels Corp Sherman Act (1970), injunction entered 1971.
Largest disclosed settlement: $75,000,000
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · CohnReznick LLP
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
ⓘ These are the parent company's consolidated financials (the parent guarantees the franchisor), not this brand's standalone results — the figure reflects the whole corporate group, not this brand alone.
Supplier relationship · Items 8 & 16
- Franchisor sells you products: Yes
- Kickbacks from required suppliers: Yes
- Must buy proprietary products: Yes
- Restricted to system-approved products: Yes
- Can negotiate own supplier terms: Yes
Score breakdown · what drove the 56 / 100 verdict
- 01MINORNo financial performance disclosure (Item 19) prevents ROI validation and creates opacity on average unit economics
- 02HIGHActive litigation across multiple categories (consumer protection, ADA compliance, trade secrets) suggests systemic operational and legal vulnerabilities
- 03MINORModest unit growth of 8.1% YoY in a 67-unit system indicates slower expansion than premium hotel franchises; no going concern statement raises sustainability questions
- 04MINORUnprotected territory creates direct competition risk from other Curio properties within same market
- 05MEDHigh capital requirement ($3.98M+) paired with 5% royalty and undisclosed profitability creates significant downside risk
Severity inferred from the FDD text · not a regulatory classification
What are you signing up for?
Ongoing fees run about 9.0% of sales (royalty + ad fund), before rent and labor.
Source: FDD 2023 · Items 11, 12, 17
FDD Items 12, 15, 17 · continued from Risk & Legal
Contract & Territory Detail
| Initial term | 23 years |
|---|---|
| Allowed renewalsℹ | 0 |
| Territory type | none |
| Protected territory | No |
| Exclusive territoryℹ | No |
| Online sales rightsℹ | Restricted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Optional |
| Right of first refusalℹ | No |
| Transfer requires consent | Yes |
| Termination notice | 30 days |
| Mandatory arbitration | No |
| Arbitration location | Fairfax County, VA (Puerto Rico only) |
| Jury trial waiver | No |
| Governing law | NY |
| Litigation count | 8 |
View Item 3 litigation summary
Pending: (1) State of Nebraska v. Hilton re mandatory resort fee disclosure; (2) Destin Platinum LLC v. Hampton Inns re franchise termination. Concluded: (3) Portland Hotel Ownership counterclaim re exclusivity fraud, settled 2022; (4) San Pedro Inn re wrongful termination NJ, settled 2020; (5) Kathleen Soule Hawaii class action re resort fees, settled 2015 for $178K; (6) US v. HWI ADA Consent Decree, expired 2015; (7) Starwood v. HHC trade secret misappropriation, settled 2010 for $75M; (8) US v. Hilton Hotels Corp Sherman Act (1970), injunction entered 1971.
Items 10, 11
Training & Operations
- Classroom training
- 159 hrs
- On-the-job training
- 1 hrs
- Training location
- Virtual / Online / On-site
- Ongoing training
- Required
- Time to open
- 36 mo
- From signing to launch
- Site selection
- Franchisee (franchisor not obligated to assist with site selection)
- Franchisor financing
- Offered
- Item 10
- POS system
- OnQ (Hilton Property Management System)
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: OnQ (Hilton Property Management System)
Item 20 · call current owners
Franchisee Contacts
45 owners to call
Name · phone · city · state. Extracted from FDD Item 20
FDD download
Curio Collection by Hilton · FDD (2023) PDF
Frequently asked questions
Frequently Asked Questions
What do Curio Collection by Hilton franchise owners earn?
Curio Collection by Hilton does not disclose average franchise owner earnings in their FDD Item 19. Not all franchisors are required to make financial performance representations. We recommend asking existing franchisees directly about their financial experience.
What is Item 19 in the Curio Collection by Hilton FDD?
The FDD section where a franchisor may disclose financial performance of its outlets. Disclosure is optional and formats vary; figures are typically gross sales, which is revenue before expenses, not profit. FranchiseVerdict extracts these figures directly from the Curio Collection by Hilton FDD and qualifies whose outlets they describe.
What is Curio Collection by Hilton's franchise failure rate?
SBA 7(a) loan charge-off data is not available for Curio Collection by Hilton (fewer than 10 loans on file). Charge-off rates are one way to gauge franchise risk, but not all franchise loans go through the SBA program. We recommend reviewing turnover and closure data in the FDD and speaking with current franchisees.
How many Curio Collection by Hilton franchise locations are there?
As of their most recent FDD filing, Curio Collection by Hilton has 67 total units in the United States, including 67 franchised units and 0 company-owned units. 5 new units were opened in the latest reporting year.
Is Curio Collection by Hilton a good franchise to buy?
FranchiseVerdict rates Curio Collection by Hilton as a B-grade franchise with a verdict score of 56 out of 100 (higher is better), based on our analysis of investment costs, revenue data, SBA loan performance, and growth trends. Our rating is based solely on publicly available FDD and government data; we recommend speaking with current franchisees before making any investment decision. This is not investment advice.
Data sourced from public FDD filings and SBA 7(a) FOIA records. Not financial advice.
For franchisors
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Data extracted from public FDD filings and SBA 7(a) loan disclosures (FOIA). This information is provided for research purposes only and does not constitute financial, legal, or investment advice. Verify all figures with the franchisor's current Franchise Disclosure Document before making any investment decision.