Author of www.HotelLawBlog.com
20 September 2006
Maintaining the quality of the condo hotel is a key component to the success of a condo hotel project. The condo hotel must deliver the expected consistent quality levels of service, room finishings and other physical product for its brand or market segment. Face it: the fastest way to turn a four-star property into a three-star property is to have inconsistent standards.
The condo hotel regime must provide the legally enforceable structure to maintain consistency and quality, and the mechanics to enable the unit owners, through their HOAs, to meet their obligations under the hotel management agreement, and to enforce their rights.
Anyone in the hotel business knows that there may be times when the owners will be required to dig into their wallets to cover hotel operating shortfalls and to cover capital expenditures, FF&E upgrades and replacements. But, a traditional hotel has only one owner and one operator, while the typical condo hotel may have several hundred “owners” — and you have to coordinate and enforce each of those obligations!
Unit owners, too, want consistency and quality — and they want viable recourse against those owners who don’t meet their obligations. Building standardization and accountability into all the project’s documents benefits all stakeholders in the condo hotel.
Other condo hotel resources
You can access the full library of Condo Hotel materials on Hotel Law Blog by going to the home page, selecting the tab at the top that says “HOTEL LAW TOPICS”, and then clicking on “Condo Hotels” in the drop down menu . . . or by clicking here.
Below is a partial listing of articles by JMBM’s Condo Hotel Lawyers:
- Condo hotels: Don’t forget the secret sauce!
- Condo Hotel Lawyer: What is a Condo Hotel?
- The “new breed” of condo hotels — Key to financing new hotel development? Selling condo hotels as “securities” under new SEC Rule 506(c) . . .
- Using condo hotels for financing new hotel development: Traditional condo hotel structures as “non-securities”
- Condo Hotel fundamentals — 5 Keys to Success!
- Condo Hotels’ enduring legacy: hotel-enhanced mixed-use
- Hospitality Lawyer: The 5 biggest misconceptions about Condo Hotels
- Condo Hotel Lawyer: Why does the SEC care about condo hotels?
- Condo Hotel Lawyer: Standards must be “built in”
- Condo Hotel Lawyer: Not so fast! Locking down the condo hotel structure
- Condo Hotel Lawyer — What is fanning the condo hotel wild fire in Latin America, the Caribbean, Europe, China, India and the Middle East?
- Condo Hotel Lawyer — Las Vegas Report: What drives successful sellouts today?
- Condo Hotel Lawyer — What in the world is going on with condo hotels now?
- Hospitality Lawyer — Trump’s luxury residential mixed-use project in Hawaii sells out in 8 hours. New sales record claimed.
This is Jim Butler, author of www.HotelLawBlog.com and hotel lawyer, signing off. We’ve done more than $87 billion of hotel transactions and have developed innovative solutions to unlock value from hotels. Who’s your hotel lawyer?
Our Perspective. We represent hotel owners, developers and investors. We have helped our clients find business and legal solutions for more than $125 billion of hotel transactions, involving more than 4,700 properties all over the world, including more than 100 condo hotels and hotel condos. For more information, please contact Jim Butler at firstname.lastname@example.org or +1 (310) 201-3526.
Jim Butler is a founding partner of JMBM, and Chairman of its Global Hospitality Group® and Chinese Investment Group®. Jim is one of the top hospitality attorneys in the world. GOOGLE “hotel lawyer” and you will see why. Jim and his team are more than “just” great hotel lawyers. They are also hospitality consultants and business advisors. They are deal makers. They can help find the right operator or capital provider. They know who to call and how to reach them.