Fairfield by Marriott franchise

U.S. locations

1,156 U.S. operating hotels at year-end 2025: 1,152 franchised and 4 company-owned, managed or leased. Sum only 50-state/DC 2025 ending stocks. Canada excluded explicitly from both tables; no other geography occurs in the ending-stock rows. States omitted by the issuer had no outlets during the three fiscal years. Table 1 separates franchised from company-owned, managed and leased categories; their ending stocks sum to the full system count. Tables 3/4 describe conversions between categories, so movement columns are not added or treated as closures. Item 19 independently labels the matching U.S.–Canada combined total as open and operating at December 31, 2025. Future openings, signed-but-unopened agreements and STR performance-cohort counts are excluded.

Opening investment

$12,289,300–$34,537,000. New-build suburban prototypes: 80–110 or 120–150 guestrooms; excludes real estate, related local fees, insurance and contingency. Published estimates for typical newly constructed suburban hotels, in the two stated prototype sizes; envelope uses the lowest and highest published endpoints, not addition of component costs or prototypes. Excludes real estate and related building permit, tap and impact fees, insurance and hard-cost contingency; these amounts are variable or not determinable. This is not an all-in project budget. Conversions, acquisitions of existing hotels, larger hotels, urban/resort locations and spa/residential/condominium/multifamily components may have substantially different costs and are not priced by this range. Note 5 says real estate or site work is not estimated; Note 6 says the construction estimate includes site work. Both statements are preserved; no site-work amount is added or treated as a resolved exclusion. Construction assumes on-grade parking; special earthquake foundations are excluded. Regional labor, site and design conditions can increase costs. Design fees exclude local development fees. Additional funds cover the first three months and are not a break-even estimate; exclude franchise fees, management fees, FF&E reserves, personal-property and real-estate taxes, permits/licenses, building insurance and operating leases. Issuer recommends at least 5% of project hard costs as contingency, but the published total excludes costs marked not determinable. No contingency has been calculated or added. Limited 2026 legacy-system implementation is $92,300–$113,700; later PMS transition approximately $5,840–$12,205 per hotel plus $62–$76 per guestroom, with $2,700 additional revenue-management advisory services where applicable. These conditional costs are not aggregated into a new total. Independent feasibility-study travel/living costs are additional; residential/condominium/multifamily feasibility study is approximately $10,000–$20,000 plus travel/living. Opening advertising includes a $10,000–$20,000 approved photographer; urban advertising can cost more. Marriott payments are nonrefundable except the initial application fee may be partly refundable if application is declined; third-party refunds depend on agreements. No guarantee actual costs fall within estimates; financing only as otherwise described in Item 10.