Real Estate partner Gavin Vollans moderated a September 12 session during this year's Annual Hotel Conference in Manchester that was summarized in an article by Hospitality Investor. Gavin facilitated a discussion among hospitality executives about how hotel operators and brands are changing the terms of their agreements to align with the requirements of alternative and emerging ownership groups.
The speakers noted approaches to hotel operating agreements, such as specific fee structures, detailed variable lists and exit terms, that were once considered bespoke but are now becoming more commonplace. Other changes included requests for environmental, social and governance (ESG) clauses, employment structures and reporting requirements. Panelists emphasized that such changes indicate higher levels of detailed due diligence by hotel owners and operators, driven by numerous factors such as the current economic environment.
"What was bespoke becoming commonplace in hotel operating agreements," Hospitality Investor, September 14, 2023.
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