November 22, 2010

How "standards" can protect your hotel mixed-use assets . . .

by the JMBM Global Hospitality Group®

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
22 November 2010

Mixed-use can be a key to unlock value. But "standards" can be critical to protect the value of your hotel mixed-use asset

Some years ago, we coined the term "hotel-enhanced mixed-use" to describe those dynamic mixed-use properties where the hotel acts as the "spark plug" that energizes the entire project.
Hotels can be the "ultimate amenity" for mixed-use projects because they can distinguish the project, provide a great driver of traffic, and offer an integrating hub for residential and retail customers.

Since that time, we have seen hotels in successful mixed-use properties achieve RevPAR premiums of 30% to 40%. But these success stories are written about hotel developers and brands that understood -- on the front end -- that quality control had to be hard-wired into the regime. Hotel owners and hotel brands that failed to do that have not been so lucky.

In her article below, which was recently published by Hotel Business, hotel lawyer Catherine Holmes, a senior member of the JMBM Global Hospitality Group®, offers experienced advice on how you can "Protect your mixed-use asset by creating and maintaining standards."


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November 1, 2010

Hotel Lawyer: Checklist for negotiating Hotel Management Agreements/Hotel Operating Agreements - The HMA PRO™ Checklist

by the JMBM Global Hospitality Group®

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
1 November 2010

FREE Comprehensive Checklist for Negotiating a Hotel Management Agreement. Negotiating a Hotel Management Agreement or HMA is one of the most important things hotel owners will ever do for their hotel investment. And getting terms that work well for the owner can be very problematic. That is why JMBM's Global Hospitality Group® developed a solution for getting the best hotel brand and operator . . . and HMA terms that protect the owner.

Based on more than 20 years experience in negotiating, renegotiating, litigating, arbitrating and advising on more than 1,000 hotel management agreements, we call our solution "Hotel Management Agreement Procedure to Recruit an Operator" or HMA PRO™.

HMA PRO™ is described in detail in an earlier article about How to get a great hotel operator at http://hotellaw.jmbm.com/2010/10/hma_pro.html.

The HMA PRO™ Checklist is available for FREE as described below. It is a tool we use at the very beginning of the HMA PRO™ process before contact is initiated with hotel operator candidates. It helps our clients identify and prioritize goals and objectives, so that we can best shape the initial communications to get the right operator and the terms that are most important for each client.

Here is more information about this valuable tool, and how to get your free copy.

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