Author of www.HotelLawBlog.com
1 September 2006
The current hurricane season serves a strong reminder to be prepared for the next disaster. We never know when there might be an earthquake, tornado, fire, flood or riot, but here are a few tips that can make a big difference, especially when taken before the disaster strikes:
15 March 2006
Closing hotels and hotel closings
Hotel closings are hitting record levels, but now it is for all the right reasons! Unlike closings caused by the “great real estate depression” of the early 1990s, hotels are closing today for positive reasons: major rehab and construction projects, conversions to condo hotel or residential condos and expansion. Hotel developers and owners are finding that construction is often so extensive that it is advisable to close the hotel while the work is being performed. But, you should not make the decision to close without first consulting with your labor counsel to consider the labor and employment implications, and determining the optimal strategies for your situation.
[By the way, hotels also close because of financial difficulties, but that is a different problem for another article. Those issues are also very important. For example, see Closing that hotel may be the worst money-saving idea you ever had! Lenders, here’s why mothballing a hotel can be a very bad idea.]
17 January 2001
THE CMBS MARKET IS HUGE … AND LARGELY A MYSTERY
The CMBS (Collateralized Mortgage Backed Securities) market has fundamentally changed the landscape in the United States for commercial real estate finance–the legal structure, ownership, management, and rules of the game. Securitization (1) has also forever altered the behavior of the participants and consequences that follow in the mortgage default dance. (2)
By 2000, the Federal Reserve estimated that 19 percent, or almost one-fifth, of all outstanding commercial mortgage debt in the United States was securitized. This amounts to almost $281 billion in mortgage loans. The amount has been growing at more than $50 billion per year and is expected to continue growing at this rate for a decade or more.
This article will focus on certain key issues in hotel lending where lenders seem to have trouble recognizing the cost-benefit ratios. There are certain issues and reason why lenders just need to say “NO” in hotel lending.
THIS BLOG WILL BE POSTED SHORTLY. CHECK BACK OR SUBSCRIBE TO THE HOTEL LAW BLOG.
Hotel receiverships, bankruptcies, restructurings, workouts, turnarounds and opportunistic investment
Restructuring distressed hotels . . . hotel debt . . . and workouts of troubled hotel loans for profit opportunities now. Hotel lawyers on hotel turnarounds, workouts, restructurings, bankruptcies and opportunistic investment.
Hotel bankruptcy? Distressed hotel loan mortgage? Restructuring hotel debt? Troubled hotel asset? Investing in bankrupt hotels or distressed debt?
Keywords:
Hotel Operating Agreement, HOA, Hotel Management Agreement, HMA, Hotel Management Contract, Management Contract. Hotel Operator, Hotel Manager, Hotel Owner. RFP for Hotel Manager. RFP for Hotel Operator, How to get a great hotel operator.
Terminology
Contracts between hotel owners and managers (or operators) controlling the management of a hotel go by various names. They are called hotel management agreements, HMAs, hotel management contracts or hotel operating agreements. For convenient reference, this article will generally use the term “Hotel Management Agreement” or “HMA.” However all these terms can be used interchangeably and mean the same thing, just as with hotel operator or hotel manager.
Whatever they are called, Hotel Management Agreements allocate risk between the hotel manager and the hotel owner. They are critical in determining the profitability and value of a hotel.
How to get a great hotel operator
Terminating Hotel Management Agreements &
Negotiating Hotel Management Agreements
How do I get a good hotel operator and a good hotel management agreement?
How do I get a good hotel brand and good hotel franchise or license agreement?
How can I terminate a bad hotel management agreement? Terminating a hotel management agreement.
What are important hotel management agreement terms?
Hotel management agreement resources at JMBM Hotel Management Agreements. How to get a great hotel operator:
- part 1 — Hotel management agreement fundamentals, The biggest mistakes hotel owners make in pursuing hotel management agreements (and how to avoid them), and why you want an RFP to get your hotel operator.
- part 2 — What is an RFP for a hotel operator or brand? What critical steps should be included in every RFP? How does the process work and what do the documents look like?
- part 3 — 5 Factors that determine what your RFP looks like. 16 Steps to a successful RFP Process
The 5 questions every owner should ask BEFORE selecting a hotel brand
Hotel Management Agreements 201 — Indemnification Provisions
How to terminate a hotel management agreement when an operator really deserves it!
Hospitality Lawyer: Hotel Management Agreements: SNDAs or Subordination Agreements
Hospitality Lawyer Baja Mexico — So what’s a brand? How did Trump get into this conversation?
Troubled Hotel Loan Solution — JMBM’s SAVE® Program
Terminating hotel management agreements when things don’t work? Not easy, but not impossible either.
This is Jim Butler, author of www.HotelLawBlog.com and hotel lawyer. Please contact me at Jim Butler at jbutler@jmbm.com or 310.201.3526.
Hotel Lawyers — featured subjects and articles
Workouts, bankruptcies & receiverships
Hotel Franchise & License Agreements
This is Jim Butler, author of www.HotelLawBlog.com and hotel lawyer. Please contact me at Jim Butler at jbutler@jmbm.com or 310.201.3526.