Hotel Attorney on Hotel Management Agreements. How to get the right hotel operator: part 3
The Hotel RFP Process: 5 Factors that determine what your RFP looks like.
16 Steps to a successful RFP Process
By Jim Butler, Hotel Lawyer | Author of www.HotelLawBlog.com
1 May 2008
Hotel Attorney on Hotel Management Agreements. How to get the right brand and operator for your hotel project . . . and a deal you can live with -- The Hotel RFP Process.
In the last few articles here at www.HotelLawBlog.com, I have been sharing some of the important lessons our hotel attorneys in the JMBM Global Hospitality Group® have learned about hotel management agreements over more than $50 billion of hotel transactions, involving more than 1,000 properties. While it may be an exaggeration to say that "JMBM wrote the book on hotel management agreements," we certainly know the area and have at least written a few chapters in that book.
In parts 1 and 2 of this series, we covered:
* How the terms of your hotel management agreement can easily raise or lower the nominal value of your hotel by 25% or more* The 5 biggest mistakes owners make in pursuing hotel management agreements (and how to avoid them)
* What's a Hotel RFP and what shapes it.
In case you missed our earlier discussion, please see "How to get the right hotel operator - part 1" and "How to get the right hotel operator - part 2." You will find it with some other great Hotel Management Agreement resources under the topic by that name here at www.HotelLawBlog.com.
Let's return now to the Hotel RFP process ...
