The contractual relationship between an owner and an operator is begins with the negotiation of the underlying management agreement. The tone and evolution of that owner/operator relationship will hinge upon the resolution of the most important issues arising during the negotiation of the management agreement, with the commercial terms establishing the foundation of the financial relationship, and the allocation of liability terms establishing the parameters of the risk relationship. Determining who is responsible for the consequences and liabilities of the hospitality business is, more often than not, the most heated and highly negotiated part of a management agreement. READ MORE



