EVEN HotelsFranchise Cost, Revenue & Review 2026
Data from FDD filing + SBA 7(a) records
FranchiseVerdict summary · 2026
A EVEN Hotels franchise requires a total initial investment of $16.9M – $25.2M, including a $75K franchise fee and an ongoing 5.0% royalty[2]. The 2024 FDD does not disclose unit-level revenue (no Item 19). Verdict grade: F. Run a live ROI scan →
Data last verified June 18, 2026 · figures per the 2024 FDD issuance
Overview
- Investment
- $16.9M – $25.2M
- 46th pct Lodging
- Avg gross sales
- N/A
- 2nd pct Lodging
- Royalty
- 5.0%
- 4th pct Lodging
- Units
- 19
- 23rd pct Lodging
- SBA default
- N/A
Quick verdict · Lodging · color = vs category peers
Green = >15% above Lodging avg · No shading = within ±15% · Red = >15% below avg · Source: FDD filings + SBA 7(a)
Data from public FDD filings and SBA records. Not financial advice. Methodology
59 legal cases disclosed in the FDD. Read Item 3 before signing.
Bottom line
- Total investment $16.9M – $25.2M including a $75K franchise fee, 5.0% ongoing royalty.
- Item 19 discloses "Historic" rather than annual gross sales, so unit revenue is not directly comparable.
- Verdict F (Bottom Quintile) with a risk score of 85/100.
- Bankruptcy history disclosed in the FDD. Review Item 4 for details before proceeding.
Item 1 · who you're contracting with
The Franchisor
- Legal entity
- Holiday Hospitality Franchising, LLC
- Parent company
- InterContinental Hotels Group PLC
- Incorporated in
- DE
- HQ
- Three Ravinia Drive, Suite 100, Atlanta, Georgia 30346
- Auditor
- PricewaterhouseCoopers LLP
- Audited financials
- Franchisor revenue
- $26.1M
- vs $27.2M prior year
Affiliated brands
- Six Continents Limited
Other brands the franchisor or its parent operates (Item 1).
Overview
About
Franchisees operate mid-scale wellness-focused hotel properties (part of IHG's extended-stay portfolio) handling daily operations including guest services, housekeeping, maintenance, front desk, and revenue management. Franchisees are responsible for property-level P&L while adhering to corporate brand standards, systems, and paying 5% royalties on gross room revenue.
- CEO
- Elie W. Maalouf
- Headquarters
- GA
- Founded
- 1989
- FDD year
- 2024
- States available
- 15
FDD Item 7 · 2024 filing · 26 line items
Initial investment breakdown
| Line item | Low | High | |
|---|---|---|---|
| Application Feenot refundable | $75K | $75K | |
| Property Improvement Plan (PIP) Feenot refundable | $0 | $10K | |
| Land (typically 2.1 to 2.4 acres)not refundable | — | — | |
| Building Constructionnot refundable | $13.8M | $20.0M | |
| Furniture, Fixtures & Equipmentnot refundable | $2.0M | $2.7M | |
| Operating Supplies and Equipmentnot refundable | $338K | $439K | |
| PMS Equipment (Premise Based): Software, Installation & Training, IHG Concerto Equipment & Training, NGP/Payments Equipmentnot refundable | $83K | $96K | |
| PMS Equipment (Hosted): Software, Installation & Training, IHG Concerto Equipment & Training, NGP/Payments Equipmentnot refundable | $52K | $66K | |
| Guest Internet Access - Bandwidth (IHG Connect)not refundable | $500 | $3K | |
| Guest Internet Access - Hardware (IHG Connect)not refundable | $23K | $49K | |
| Key Card System (Door Locks Only)not refundable | $11K | $28K | |
| Entertainment - Hardware, Maintenance, Guest Support & Contentnot refundable | $13K | $15K | |
| Employee Safety Devicesnot refundable | $25K | $30K | |
| Other Technology Systemsnot refundable | $76K | $132K | |
| Primary Identification Sign (including installation, freight, foundation and wiring)not refundable | $25K | $62K | |
| Hotel Photographynot refundable | $4K | $6K | |
| Market Feasibility Studynot refundable | $0 | $30K | |
| Openings Preopening Support Feenot refundable | $9K | $9K | |
| IHG Learning Program (annual subscription)not refundable | $4K | $4K | |
| Opening Date Extension Feenot refundable | — | $5K | |
| Total initial investment | $17.0M | $25.3M |
Line items extracted from FDD Item 7. Ranges reflect the franchisor's stated low and high per line. Total is the sum of line-item lows / highs — actual costs may fall outside this range depending on market and build-out scope.
Item 7 · what it costs to open + operate
The Vitals
- Total investment
- $16.9M – $25.2M
- Near category avg vs category
- Liquid capital req'd
- $200K – $1.0M
- Better than avg vs category
- Franchise fee
- $75K
- Better than avg vs category
- Royalty
- 5.0%
- Gross Rooms Revenue · typical 6–8%
- Ad fund
- 3.5%
- typical 3–5%
- Total fee load
- 8.5%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 5.0% of gross sales |
| Marketing / ad fund | 3.5% of gross sales |
| Transfer fee | $25K |
| Inventory (initial) | $338K – $439K |
| Total fee load | 8.5% of rev |
Financial Performance
This brand's FDD disclosed "Historic" in Item 19 rather than annual gross sales. This metric cannot be directly compared across brands, so we omit it from rankings.
vs Lodging averages
How EVEN Hotels Compares
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 19
- Opened
- 0
- Last reporting year
- Closed
- 0
- Turnover rate
- 0.0%
- Company-owned
- 0
- Corporate units in the system
- % franchised
- 100%
- vs corporate-owned
- Net growth (yr3)
- +0.0%
- Net unit change last year
- 3-yr CAGR
- +0.0%
- Compounded over last 3 years
3-year detail · Item 20
- Closed (3yr)
- 0
- Terminated (3yr)
- 0
- Non-renewed (3yr)
- 0
- Transfers (3yr)
- 1
- Reacquired (3yr)
- 0
- Franchisor bought back
- Transfer rate
- 6.7%
- Owners selling to other franchisees
- Continuity rate
- 100.0%
- Units that stayed open
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 13 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.
Available to sell in · Item 12
- California
- Hawaii
- Illinois
- Indiana
- Maryland
- Michigan
- Minnesota
- New York
- North Dakota
- Rhode Island
- South Dakota
- Virginia
- Washington
- Wisconsin
States where the franchisor is registered to sell new franchises (FDD registration filings).
SBA loan performance
Government records
SBA Loan Data
Aggregated from SBA loan disclosures. This brand has only 2 7(a) loans on file; statistical reliability is limited below 10 loans.
- Total loans
- 2
- Loan volume
- $8.2M
- Median loan
- $4.1M
- average
- Charge-off rate
- N/A
Historical SBA 7(a) lending data, not predictive of future performance. How SBA charge-off rates are calculated
- Repayment rate (PIF)
- N/A
- 5-yr charge-off
- N/A
- Loans approved 2021+
- Active lenders
- 0
- Defaults
- 0
Explore lender portfolios on Bank Reports or regional data on State Reports.
Risk analysis
FranchiseVerdict rating + FDD Items 3, 5, 6, 12, 17
Risk & Legal
EVEN Hotels presents HIGH RISK due to going concern warnings, minimal systemwide scale (19 units), undisclosed financials, active litigation, and unprotected territories—suggesting a struggling brand with unproven unit economics and questionable corporate stability.
Litigation (Item 3)
0 case reference(s): 2 pending, 0 settled.
Bankruptcy (Item 4)
Disclosed in last 7 years
Bankruptcy Code; (b) obtained a discharge of its debts under the bankruptcy code; or (c) was a principal officer of a company or a general partner in a partnership that either filed as a debtor (or had filed against it) a petition to start an action under the U.S. Bankruptcy Code or that obtained a
Audited financials (Item 21)
Yes · PricewaterhouseCoopers LLP
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
Supplier relationship · Items 8 & 16
- Franchisor sells you products: No
- Must buy proprietary products: No
- Restricted to system-approved products: No
Score breakdown · what drove the 85 / 100 rating
- 01HIGHGoing concern warning indicates potential financial distress at corporate level
- 02MEDHigh initial investment ($16.9M-$25.2M) with no disclosed average unit volumes or net income to validate ROI
- 03MEDOnly 19 units systemwide suggests minimal scale, limited support infrastructure, and potential brand viability issues
- 04HIGHMultiple litigation cases including class actions and system access disputes indicate operational and governance problems
- 05MINORUnprotected territory creates direct competition risk and cannibalization potential within franchise network
- 06MINORNo Item 19 financial performance disclosure prevents due diligence validation of unit economics
- 07MINORUnknown or stagnant unit growth trajectory suggests market rejection or corporate inability to recruit franchisees
- 08MINOR5% royalty on gross rooms revenue with $75K franchise fee is aggressive given brand size and support capability
Severity inferred from the FDD text · not a regulatory classification
FDD Items 5, 6, 12, 17 · continued from Risk & Legal
Contract & Territory Detail
| Initial term | 20 years |
|---|---|
| Allowed renewalsℹ | 0 |
| Territory type | Specific site |
| Protected territory | No |
| Online sales rightsℹ | Granted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Optional |
| Right of first refusalℹ | Yes |
| Termination notice | 30 days |
| Mandatory arbitration | No |
| Jury trial waiver | Yes |
| Governing law | Georgia |
| Litigation count | 59 |
View Item 3 litigation summary
0 case reference(s): 2 pending, 0 settled.
Items 10, 11
Training & Operations
- On-the-job training
- 21 hrs
- Training location
- On-site and corporate
- Site selection
- franchisee
- Franchisor financing
- Offered
- Item 10
- POS system
- Oracle Opera
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: Oracle Opera
Item 20 · call current owners
Franchisee Contacts
21 owners to call
Name · phone · city · state. Extracted from FDD Item 20
FDD download
EVEN Hotels · FDD (2024) PDF
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a EVEN Hotels franchise?
The total investment to open a EVEN Hotels franchise ranges from $16.9M – $25.2M, with an initial franchise fee of $75K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do EVEN Hotels franchise owners earn?
EVEN Hotels 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 EVEN Hotels's franchise failure rate?
SBA 7(a) loan charge-off data is not available for EVEN Hotels (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 EVEN Hotels franchise locations are there?
As of their most recent FDD filing, EVEN Hotels has 19 total units in the United States, including 12 franchised units and 0 company-owned units.
Is EVEN Hotels a good franchise to buy?
FranchiseVerdict rates EVEN Hotels as a F-grade franchise with a risk score of 85 out of 100, 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.