NYLO Hotels vs My Place Hotels Franchise Comparison

Below is an in-depth analysis and side-by-side comparison of NYLO Hotels vs My Place Hotels including start-up costs and fees, business experience requirements, training & support and financing options.

Start-Up Costs and Fees
 
NYLO Hotels Franchise
My Place Hotels Franchise
Investment $10,880,000 - $14,800,000$4,108,050 - $5,709,950
Franchise Fee $60,000 - $69,600$30,000
Royalty Fee 5%-
Advertising Fee 3.5%-
Year Founded -2014
Year Franchised -2014
Term Of Agreement --
Term Of Agreement --
Renewal Fee --


Business Experience Requirements
 
NYLO Hotels Franchise
My Place Hotels Franchise
Experience --

Financing Options
 
NYLO Hotels Franchise
My Place Hotels Franchise
  In-House/3rd PartyIn-House/3rd Party
Franchise Fees -/--/-
Start-up Costs -/--/-
Equipment -/--/-
Inventory -/--/-
Receivables -/--/-
Payroll -/--/-

Training & Support
 
NYLO Hotels Franchise
My Place Hotels Franchise
Training --
Support --
Marketing --
Operations --

Expansion Plans
 
NYLO Hotels Franchise
My Place Hotels Franchise
US Expansion -Yes
Canada Expansion --
International Expansion --

Company Overviews

About NYLO Hotels

NYLO has set the goal of having 50 hotels open or under construction by end of 2012. This includes both NYLO and XP by NYLO hotels. NYLO's growth plan will be accomplished by pursuing two avenues simultaneously: 1. Corporate owned, developed and operated hotels, and 2. Franchise agreements with third party owners, developers and operators. As a core part of its business plan, NYLO made the strategic decision not to launch the franchising until it had developed, constructed and operated at least a few corporately owned hotels in order to fully understand the product from a developer's perspective. NYLO will continue to corporately develop, own and operated additional hotels going forward; however, franchising will play an increasingly significant role in the brand's growth. NYLO first made the brands available for franchising in February 2008 and has filed a franchise disclosure document (FDD) in 47 states and is therefore licensed to sell franchises in 47 states. NYLO offers developers and franchisees an innovative concept that is efficient to construct and the personal support of its experienced senior management team.

About My Place Hotels

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Launched in 2014, My Place Hotels is America’s foremost extended stay hotel chain. The brand was founded on the principles of delivering superior quality and the highest customer service for our guests, while at the same time, providing our franchisees with a uniquely effective business model.

At My Place Hotels, ensuring the safety and security of our guests and hotel associates remains our highest priority. To build upon that commitment, we have launched a program to enhance already high standards for the long-term health and safety of our guests and team members.