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Mock Negotiation –  Hotel Management Agreement Presented by Mitchell S. Berkey Jeff Holdaway Lynne Messina February 9, 2012
Owner vs. Manager <ul><li>Representing the Owner </li></ul><ul><ul><li>Lynne Messina </li></ul></ul><ul><ul><ul><li>Genera...
TERM
Manager Goals <ul><li>Long term commitment provided Manager is meeting performance objectives </li></ul><ul><li>10-30 year...
Manager Goals  (cont ’d) <ul><li>Renewal rights exercisable by Manager, e.g., one or more 10 year renewal terms </li></ul>...
Owner Goals <ul><li>Flexibility and shorter duration of commitment </li></ul><ul><li>Short as possible initial term, e.g.,...
TERMINATION RIGHTS OF OWNER
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Hospitality Law Conference Preview: Mock Negotiation

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The Tenth Annual 2012 Hospitality Law Conference, which will be held Febuary 8-10, in Houston, offers up to 17.0 hours (including 1.0 hour of ethics) of CLE, CPE, and HRCI recertification hours. For more information, please visit www.hospitalitylawconference.com.

Register today!

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Transcript of "Hospitality Law Conference Preview: Mock Negotiation"

  1. 1. Mock Negotiation – Hotel Management Agreement Presented by Mitchell S. Berkey Jeff Holdaway Lynne Messina February 9, 2012
  2. 2. Owner vs. Manager <ul><li>Representing the Owner </li></ul><ul><ul><li>Lynne Messina </li></ul></ul><ul><ul><ul><li>General Counsel </li></ul></ul></ul><ul><ul><ul><li>Highgate Hotels, Irving, TX </li></ul></ul></ul><ul><li>Representing the Manager </li></ul><ul><ul><li>Jeff Holdaway </li></ul></ul><ul><ul><ul><li>Senior Vice President, Associate General Counsel </li></ul></ul></ul><ul><ul><ul><li>Marriott International, Bethesda, MD </li></ul></ul></ul><ul><li>Moderator </li></ul><ul><ul><li>Mitchell S. Berkey </li></ul></ul><ul><ul><ul><li>Partner </li></ul></ul></ul><ul><ul><ul><li>Wolff & Samson, West Orange, NJ </li></ul></ul></ul>
  3. 3. TERM
  4. 4. Manager Goals <ul><li>Long term commitment provided Manager is meeting performance objectives </li></ul><ul><li>10-30 year initial term depending on property type </li></ul><ul><ul><li>Limited service </li></ul></ul><ul><ul><li>Full service </li></ul></ul><ul><ul><li>Resort </li></ul></ul>
  5. 5. Manager Goals (cont ’d) <ul><li>Renewal rights exercisable by Manager, e.g., one or more 10 year renewal terms </li></ul><ul><li>Greater initial term and renewal rights if Manager provides financial support, e.g., equity investment, debt, guaranty or key money </li></ul>
  6. 6. Owner Goals <ul><li>Flexibility and shorter duration of commitment </li></ul><ul><li>Short as possible initial term, e.g., 5-10 years </li></ul><ul><li>Limit renewal rights to Owner only </li></ul><ul><li>Limited, if any, renewal rights exercisable by Manager based on meeting performance benchmarks </li></ul>
  7. 7. TERMINATION RIGHTS OF OWNER
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