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Hotel Operator Management Agreements |
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LA 317 Hotel Management Agreement For Flagged Hotel With Incentive Compensation Provisions This long term hotel operator management agreement for a large hotel with a major hospitality flag. The agreement appoints the manager and details its management responsibilities for the property. The agreement contains carefully drafted definitions for base management fee, incentive management fee, gross revenues, available cash flow and the like. The agreement contains specific requirements for the manager concerning accounting, bookkeeping, working capital and bank accounts. The agreement also imposes duties upon the manager with respect to Sarbanes Oxley certifications. Number of Single Spaced Pages: 50 LA 687 Hotel Management Agreement For Portfolio Of Affordable Hotels For Fixed Percentage Of Gross Revenues This form is a hotel operator management agreement for a portfolio of affordable hotels. The agreement appoints the manager and details its management responsibilities for the properties. The agent is compensated monthly based upon a fixed percentage of gross revenues from the properties. There is no incentive compensation arrangement for the agent, but the agreement does contain an expansive definition of "gross revenues" upon which the agent's compensation is based. Number of Single Spaced Pages: 15 LA 657 Hotel Operator Management Agreement For Luxury Hotel With Participating Condo Units This hotel operator management agreement is for the management and operation of a luxury hotel developed in conjunction with adjacent residential condominiums. If the owners of the condominiums elect to participate the hotels rental program,, their units will also be managed by the management company as provided in the agreement. The hotel operator is to be compensated by both a base fee and additional incentive compensation. The operator has well defined responsibilities under the agreement for financial reporting, and preparation of business plans for the property, as well as general management duties. Number of Single Spaced Pages: 51 LA 1363 Hotel Operator Management Agreement Between Owner And Owner Affiliated Manager This hotel operator management agreement is appropriate for an arrangement where a management affiliate of the hotel owner will manage one or more hotel properties. The affiliate is designated as an independent contractor, and has general management authorities for the properties. All costs and expenses incurred by the operator are to be paid by the owner, and the operator will receive a specified management fee subject to a cap of a percentage of annual gross revenues. Number of Single Spaced Pages: 10 LA 1617 Hotel Operator And Management Agreement For New Hotel Including Pre-Opening Period This hotel operator management agreement is for the management and operation of a large hotel. It contains duties for the operator relating to the pre-opening period, when the hotel has not yet opened for business. The hotel operator is to be compensated by both a base fee and incentive compensation based upon income before fixed charges in excess of a stipulated amount. The operator has well defined responsibilities under the agreement for financial reporting, and preparation of business plans for the property, as well as general hospitality management duties. Number of Single Spaced Pages: 34 Related Strategies See Strategies For Brokerage, Management And Leasing Agreements Related Discount Power Pack See DISCOUNT POWER PACK 4: Brokerage, Management And Leasing Agreements |
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