hotel management agreements
HHM Transitions Twenty-Five Premier Marriott and Hilton Hotels With Four New Institutional Clients
HHM | March 8, 2022
Hotel Management & Investment Company Expands Portfolio to 185 Managed Properties PHILADELPHIA, PA - March 8, 2022 - HHM has integrated 25 premium-branded, full service, select service, and extended stay hotels into its managed portfolio of 185 hotels from coast to coast. The newly added hotels come with long-term stable management agreements for nearly 4,000 rooms across various Marriott and Hilton brands. These properties are strategically located in and around existing HHM markets like Denver, Austin, Tampa, Fort Lauderdale, and Chicago while adding hotels in new HHM markets such as Salt Lake City, Louisville, and Omaha....
Hotel Lawyer: 5 Tips for Your Next Hotel Management Agreement (HMA)
Bob Braun | June 14, 2021
By Jim Butler, Bob Braun Is it time to re-think your management agreement? As the hospitality industry moves toward recovery, many hotel owners are re-evaluating the management of their properties. A good manager can bring great value to a property; a poor manager can reduce its value. Some studies have concluded that a good management agreement – one that provides for meaningful accountability, transparency and performance – can add or subtract 50% to the value of a hotel. The next normal will likely require rethinking how to maximize the efficiency and effectiveness of operations, rather than simply riding post-recession...
Demystifying Hotel Management Agreements with Focus on Operator Efficiency
Olivier Harnisch | April 17, 2018
By Olivier Harnisch The Middle East region has generally been following the traditions and operating models of the global hospitality industry. Developers typically build hotels and leave the responsibility of running them to hotel operators via a hotel management agreement (HMA). Operators receive a remuneration consisting of a combination of "base fee" linked to a percentage of revenue and "incentive fee" based on a percentage of gross operating profit. While this agreement has worked well in the past, today there are several factors that raise questions, which are relevant to hotel owners and operators. Key among this is the transfor...
Interstate Hotels & Resorts Executes Agreement to Acquire the Management Agreements of 83 Properties from White Lodging
Interstate Hotels & Resorts | December 6, 2017
ARLINGTON, Va., December 6, 2017—Interstate Hotels & Resorts ("Interstate" or the "Company"), the global leader in third-party hotel management, announces it has entered into an agreement to acquire the management agreements of 82 premium-branded, select- and full-service hotels, plus one restaurant, from White Lodging. The transaction is anticipated to close by the end of January 2018 at which time Interstate will begin managing the hotels. "We will operate this portfolio of high quality assets under long term agreements, helping the respective owners achieve increased long term value," said Michael Deitemeyer, Interstate's p...
Waterford Hotel Group Adds Five Hotels to Growing Portfolio
Waterford Hotel Group, Inc. | September 3, 2015
Waterford, CT (September 4, 2015) --- Waterford Hotel Group, one of the nation's leading hospitality companies, has added five hotels to its portfolio year-to-date. The addition of the five hotels brings the firm's portfolio to 28 properties and more than 3,800 rooms, representing a diverse portfolio ranging from independent inns to full-service hotels and convention centers. "We have successfully executed our 2015 growth strategy to date and anticipate continued progress in the coming months," said Rob Winchester, President and COO. "We are honored that the varied ownership groups have chosen Waterford as a partner and look forward to ...
Hotel Lawyer on HMAs: “The Shrinking Terms of Hotel Management Agreements”
Mark S. Adams | December 23, 2014
By Jim Butler and the Global Hospitality Group® 23 December 2014 Click here for the latest articles on Hotel Management Agreements. A version of this article first appeared in Hotel Business Review in December 2014, and this article is reprinted with permission from www.hotelexecutive.com. The shrinking terms of hotel management agreements Better bargaining position for hotel owners on HMAs by Jim Butler and Mark S. Adams | Hotel Lawyers The relationship between hotel owners and managers continues to evolve. Hotel management agreements historically were long-term. Fifty to sixty year terms were common. However, in the last few years, h...
Hotel Management Agreements: 5 Things to Keep in Mind When You Look for a Hotel Operator
JMBM | January 24, 2014
For the most recent update on this topic, click here By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Authors of www.HotelLawBlog.com 24 January 2014 As the economy and the hotel industry fundamentals continue to improve, hotel values have recovered to pre-recession levels in many of the top 35 hotel markets, the number of hotel transactions has jumped and new capital is pouring into hotels. This new capital -- whether focused on new, ground-up development, or the purchase of neglected assets with a view to deep renovation and rebranding -- is increasingly seeking new brands and management for their hotels. We have not s...
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