FDD ITEM 20 · FISCAL 2020–2025
COBBLESTONE SUITES Item 20: outlets, exits & growth
In its latest FDD Item 20 (fiscal 2025, from the 2026 FDD), COBBLESTONE SUITES reported 121 franchised outlets at year end. 6 of 121 franchised outlets open at the start of the year left the system (exit rate 5.0%, fiscal 2025), while 6 new outlets opened. Systemwide units moved +13.1% over 2020–2025.
| Status (FTC) | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Outlets at start | 94 | 107 | 109 | 113 | 119 | 121 |
| Opened | 13 | 4 | 4 | 6 | 7 | 6 |
| Transfers | 2 | 5 | 2 | 5 | 7 | 10 |
| Terminations | 0 | 2 | 0 | 0 | 4 | 6 |
| Non-renewals | 0 | 0 | 0 | 0 | 1 | 0 |
| Reacquired by franchisor | 0 | 0 | 0 | 0 | 0 | 0 |
| Ceased — other reasons | 0 | 0 | 0 | 0 | 0 | 0 |
| Outlets at end | 107 | 109 | 113 | 119 | 121 | 121 |
| Net change | +13 | +2 | +4 | +6 | +2 | 0 |
6 terminations + 0 non-renewals + 0 ceased (other) = 6 exits ÷ 121 at start = 5.0%
These are the three FTC Item 20 statuses in which a franchised outlet left the system — including voluntary non-renewals and outlets that ceased for other reasons, which can include sales or absorption into another franchise. Transfers (10) are resales, not exits; reacquisitions by the franchisor (0) are tracked separately. There is no official “failure rate”, and not every exit is a closure or a failure; Item 20 does not say why any outlet left. On a small starting base, a single exit moves this rate sharply.
| State | Franchised | Company-owned |
|---|---|---|
| IA | 24 | 0 |
| IA | 24 | 0 |
| WI | 24 | 0 |
| WI | 24 | 0 |
| NE | 12 | 0 |
| NE | 12 | 0 |
| CO | 9 | 0 |
| CO | 9 | 0 |
| ND | 9 | 0 |
| ND | 9 | 0 |
| PA | 7 | 0 |
| PA | 7 | 0 |
| OH | 5 | 0 |
| OH | 5 | 0 |
| TX | 5 | 0 |
| TX | 5 | 0 |
| WY | 4 | 0 |
| WY | 4 | 0 |
| IL | 3 | 0 |
| IL | 3 | 0 |
| KS | 3 | 0 |
| KS | 3 | 0 |
| MN | 3 | 0 |
| MN | 3 | 0 |
| AL | 2 | 0 |
| AL | 2 | 0 |
| AR | 2 | 0 |
| AR | 2 | 0 |
| ID | 2 | 0 |
| ID | 2 | 0 |
| MO | 2 | 0 |
| MO | 2 | 0 |
| AZ | 1 | 0 |
| AZ | 1 | 0 |
| IN | 1 | 0 |
| IN | 1 | 0 |
| OK | 1 | 0 |
| OK | 1 | 0 |
| UT | 1 | 0 |
| UT | 1 | 0 |
| WA | 1 | 0 |
| WA | 1 | 0 |
| LA | 0 | 0 |
| LA | 0 | 0 |
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