EVEN Hotels Franchise Cost, Revenue & Review 2026
Data from FDD filing + SBA 7(a) records
Analysis by FranchiseVerdict Research · Methodology
EVEN Hotels is IHG's wellness-focused hotel franchise offering fitness-forward rooms and healthy dining. Franchisees own and operate the properties, managing guest services, housekeeping, and revenue under brand standards.
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). FranchiseVerdict grade: A (Strongest tier), an editorial assessment, not investment advice. Run a live ROI scan →
Data last verified · figures per the 2024 FDD issuance
Overview
- Investment
- $16.9M – $25.2M
- 54th pct Lodging
- Avg gross sales
- N/A
- Incl. company outlets
- Royalty
- 5.0%
- 3rd pct Lodging
- Units
- 19
- 30th 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 $16.9M – $25.2M including a $75K franchise fee, 5.0% ongoing royalty.
- RETURNSItem 21 audited financials (Holiday Hospitality Franchising, LLC, Exhibit G1; FYE Dec 31 2023/2022/2021) are present but all numeric values were lost in PDF text extraction (only Caesar-shifted row labels survived: Total revenues, Total assets, Total liabilities, Member's equity, Net income); figures not recoverable from this text. Auditor signature block (Atlanta, GA, dated March 28, 2024) present but firm name not in legible extracted text.
- RISKVerdict A (Strongest tier), verdict score 61/100 (higher is better).
- LEGAL19 litigation matters disclosed in Item 3, higher than typical. Review the summary for patterns (franchisor-initiated vs. franchisee-initiated).
Item 1 · who you're contracting with
The Franchisor
Corporate structure & franchisor financials
- Legal entity
- Holiday Hospitality Franchising, LLC
- Parent company
- Six Continents Hotels, Inc.
- Ultimate parent
- InterContinental Hotels Group PLC
- Incorporated in
- DE
- HQ
- Three Ravinia Drive, Suite 100, Atlanta, Georgia 30346
- Auditor
- PricewaterhouseCoopers LLP
- Audited financials
- Franchisor revenue
- $8.4M
- vs $27.2M prior year
Affiliated brands
- Six Continents Limited
Other brands the franchisor or its parent operates (Item 1).
Overview
About
- CEO
- Elie W. Maalouf
- Headquarters
- GA
- Founded
- 1989
- FDD year
- 2024
- States available
- 15
Can you afford it, and what does the money buy?
Entry cost runs 115% above the typical lodging franchise.
Source: FDD 2024 · Items 5–7
Full Item 7 breakdown26 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
- Middle of category vs category
- Liquid capital req'd
- $200K – $1.0M
- Top 40% of category vs category
- Franchise fee
- $75K
- Middle of category vs category
- Royalty
- 5.0%
- percentage · 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 |
| Technology fee | $17 |
| Training fee | $5K |
| Transfer fee | $75K |
| Inventory (initial) | $338K – $439K |
| Total fee load | 8.5% of rev |
What do units actually make?
Source: FDD 2024 · Item 19
ROI & LBO modelsSingle-unit · 25-unit portfolio · editable
EVEN Hotels 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 EVEN Hotels unit return on the cash you put in?
Unlevered ROIC · per unit
Estimated return on your total franchise investment, before any debt financing.
0%
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: 2024 FDD
Financial Performance
Item 21 audited financials (Holiday Hospitality Franchising, LLC, Exhibit G1; FYE Dec 31 2023/2022/2021) are present but all numeric values were lost in PDF text extraction (only Caesar-shifted row labels survived: Total revenues, Total assets, Total liabilities, Member's equity, Net income); figures not recoverable from this text. Auditor signature block (Atlanta, GA, dated March 28, 2024) present but firm name not in legible extracted text.
Includes company-owned outlets
- Item 19 type
- occupancy, ADR and RevPAR
- Sample size
- 19
- vs category median 99 · small
- Transparency tier
- revenue_only
- Categorical assessment of disclosure depth
- Reporting year
- 2023
- Fiscal year the figures cover
- Source filing
- FDD 2024
- Disclosed in the 2024 filing, covering 2023
- Transparency
- 0 / 10
- vs category median 0 / 10 · typical
Compared against 174 Lodging brands
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 8.5% — below the Lodging average of 10.4%.
Disclosure
Item 19 reports occupancy, ADR and RevPAR rather than annual gross sales, so unit revenue is not directly comparable.
Operator retention
System roughly stable (0.0% 3-year CAGR) with 19 units.
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 EVEN Hotels Compares
Is the system healthy?
Source: FDD 2024 · Item 20
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 19
- Opened
- 0
- Last reporting year
- Closed
- 0
- Terminated
- 0
- Franchisor ended the franchise (per Item 20)
- Non-renewed
- 0
- Term expired, not renewed (per Item 20)
- Turnover rate
- 0.0%
- Company-owned
- 0
- Corporate units in the system
- % franchised
- 100%
- vs corporate-owned
- Net growth (3-yr)
- +36.8%
- Net unit change over 3 years
- 3-yr CAGR
- +0.0%
- Compounded over last 3 years
3-year detail · Item 20
- Opened (3yr)
- 7
- 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 · 14 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).
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 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
- limited sample (2 loans) — rate not shown below 10
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
- N/A
Explore lender portfolios on Bank Reports or regional data on State Reports.
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
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)
Multiple pending cases; Holiday as plaintiff in collection actions against licensees for unpaid fees and liquidated damages; Holiday as defendant in cases involving alleged improper renovation requirements, kickbacks from required vendors, wrongful non-renewal, and a data breach class action. No concluded or pending litigation relates solely to the EVEN Hotels brand. Several concluded cases settled with payments to Holiday.
Largest disclosed settlement: $10,900,000
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · PricewaterhouseCoopers 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
Score breakdown · what drove the 61 / 100 verdict
- 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
- 06MINORUnknown or stagnant unit growth trajectory suggests market rejection or corporate inability to recruit franchisees
- 07MINOR5% 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
What are you signing up for?
Ongoing fees run about 8.5% of sales (royalty + ad fund), before rent and labor.
Source: FDD 2024 · Items 11, 12, 17
FDD Items 12, 15, 17 · continued from Risk & Legal
Contract & Territory Detail
| Initial term | 20 years |
|---|---|
| Allowed renewalsℹ | 0 |
| Territory type | none |
| Protected territory | No |
| Exclusive territoryℹ | No |
| Online sales rightsℹ | Granted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Optional |
| Right of first refusalℹ | Yes |
| RoFR response window | 30 days |
| Transfer requires consent | Yes |
| Termination notice | 90 days |
| Curable defaultsℹ | 1 |
| Mandatory arbitration | No |
| Arbitration location | N/A - litigation, not arbitration; suits may be filed in Georgia |
| Jury trial waiver | No |
| Governing law | GA |
| Litigation count | 19 |
View Item 3 litigation summary
Multiple pending cases; Holiday as plaintiff in collection actions against licensees for unpaid fees and liquidated damages; Holiday as defendant in cases involving alleged improper renovation requirements, kickbacks from required vendors, wrongful non-renewal, and a data breach class action. No concluded or pending litigation relates solely to the EVEN Hotels brand. Several concluded cases settled with payments to Holiday.
Items 10, 11
Training & Operations
- On-the-job training
- 9 hrs
- Training location
- Atlanta, Georgia or other designated metropolitan locations; virtual options available; on-property
- Ongoing training
- Required
- Time to open
- 24 mo
- From signing to launch
- Site selection
- Licensee
- Franchisor financing
- Not offered
- Item 10
- POS system
- Oracle America Inc. Opera / Opera Xpress (PMS); F&B POS via approved supplier
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: Oracle America Inc. Opera / Opera Xpress (PMS); F&B POS via approved supplier
Item 20 · call current owners
Franchisee Contacts
39 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 Item 19 in the EVEN Hotels 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 EVEN Hotels FDD and qualifies whose outlets they describe.
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 19 franchised units and 0 company-owned units.
Is EVEN Hotels a good franchise to buy?
FranchiseVerdict rates EVEN Hotels as a A-grade franchise with a verdict score of 61 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
Are you the franchisor?
If you represent EVEN Hotels, you can request corrections or provide updated information.
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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.