Insider: Hotel Management Agreements Today
By Nelson F. Migdal and Tara K. Gorman, Greenberg Traurig LLP
Mr. Nelson Migdal
The credit world is considered by many to be in turmoil. Real estate values as measured through investment sales are below the lofty heights of just months ago. Residential absorption is dismal in many markets. Nevertheless, the possibilities for mixed-use development, anchored by an imagination catching array of amenities, remain strong, both domestically and internationally. In such a climate, the hospitality industry is attracting interest from experienced developers, owners and operators to be sure. However, there are new players in the game who see the allure, but are less familiar with the rules.
Our article in the Hotel Business Review, "Hotel Management Agreements Today" provides a brief overview, both historic and current, of the law relating to hotel management agreements. The concepts and principles discussed generally apply to the relationship between hotel owners and operators. Certain ancillary and operationally-specific issues (such as termination rights to limitations on the authority of the operator with respect to purchasing goods and services for the hotel) will be only briefly introduced. This compelling article will assist owners, operators and lenders alike as they carefully navigate the ins and outs of the hospitality industry.
At Greenberg Traurig, we make it our business to make sure we stay one step ahead of what is happening in the all matters concerning the hospitality industry. With respect to management agreements, commercial leasing, license agreements and acquisitions for hotels, resorts, condo hotels and similar matters, Nelson Migdal and Tara Gorman have a wide variety of experience on behalf of both owners, operators and lenders. This article will give you a sense of the where the hospitality industry is headed, by looking at the evolution of the hotel management agreement.
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Sincerely,
Nelson Migdal
Tara Gorman
Greenberg Traurig LLP
202-331-3100
migdaln@gtlaw.com
gormant@gtlaw.com
