Hospitality Law Conference Preview: Mock Negotiation
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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 ...

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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Hospitality Law Conference Preview: Mock Negotiation Hospitality Law Conference Preview: Mock Negotiation Presentation Transcript

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