Hotel Management Agreements: Key Topics and New Frontiers

Navigating Fees, Exclusivity, Approval Rights, Finance Provisions, Brand Management and More

Recording of a 90-minute CLE webinar with Q&A


Conducted on Wednesday, June 7, 2017

Recorded event now available

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Program Materials

This CLE webinar will cover topics of central importance to counsel preparing or reviewing hotel management agreements from a range of perspectives—whether as counsel to owner, operator, lender or potential acquiror.

Description

In the world of hotel company M&As and IPOs, the perception is that hotel management agreements are annuities for operators and a yoke for owners to endure. How does the traditional perception square with how lawyers think through and negotiate management agreements on behalf of owners and operators?

Understanding the particulars of hotel management agreements is essential to gauging hotel value and hotel financing. Whether representing owners or operators, counsel must understand the dynamic that gives rise to the bargain embodied in a hotel management agreement and how recent case law impacts an owner’s ability to terminate a management agreement.

Listen as our authoritative panel of practitioners analyzes evolving trends in hotel management agreements and key terms such as duration, exclusivity, termination and finance provisions. The panel will discuss the core topics and will impart best practices for negotiating the agreement.

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Outline

  1. The Base Fee, the Incentive Fees and All Those Other Charges
  2. Key Money
  3. Financing: Lender hot buttons
  4. Approval Rights Every Owner Should Have
  5. Performance Tests: Make It Meaningful
  6. The Brand Management Agreement - Technical Services and Pre-Opening Agreements

Benefits

The panel will review these and other key issues:

  • How can counsel best balance incentives for owners and operators?
  • How are the fees structured to achieve the objectives of both parties?
  • How do counsel for lenders think through management agreement risks?
  • What kinds of criteria are most relevant for gauging performance?
  • How might one-off purchasers and bulk purchasers in leveraged buyouts conduct due diligence of in-place hotel management agreements?

Faculty

Pucciarelli, Albert J.
Albert J. Pucciarelli

Partner
McElroy Deutsch Mulvaney & Carpenter

Mr. Pucciarelli's practice is concentrated in the areas of hotel and resort development and operations and real...  |  Read More

Yeilding, Ormend
Ormend G. Yeilding

Shareholder
Lowndes Drosdick Doster Kantor & Reed

Mr. Yeilding's practice concentrates on hotel and resort development and commercial leasing, specializing in...  |  Read More

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