Hotel Management Agreement

Letterhead

{{company_name}}

{{company_address}}

Phone: {{phone}}

Email: {{email}}

Website: {{website}}

HOTEL MANAGEMENT AGREEMENT

This Hotel Management Agreement (the "Agreement") is made and entered into as of {{date_of_agreement}}

BETWEEN:

1. {{owner_company_name}}, a company duly incorporated under the laws of {{owner_jurisdiction}}, with its principal place of business at {{owner_address}} (hereinafter referred to as "the Owner").

AND

2. {{management_company_name}}, a company duly incorporated under the laws of {{management_company_jurisdiction}}, with its principal place of business at {{management_company_address}} (hereinafter referred to as "the Operator").

The Owner and the Operator are hereinafter collectively referred to as “the Parties” and individually as “a Party.”

RECITALS

WHEREAS, the Owner is the legal and beneficial owner of the hotel property located at {{hotel_property_address}} (hereinafter referred to as “the Hotel”).

WHEREAS, the Operator possesses expertise and experience in the management and operation of hotels and desires to provide such services to the Owner.

NOW, THEREFORE, in consideration of the mutual covenants and agreements contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:

1. APPOINTMENT AND TERM

1.1. The Owner hereby appoints the Operator as the exclusive manager of the Hotel, and the Operator hereby accepts such appointment, for the term and upon the conditions set forth in this Agreement.

1.2. The initial term of this Agreement shall commence on {{commencement_date}} and shall continue for a period of {{initial_term_years}} years, unless terminated earlier in accordance with the provisions of this Agreement.

1.3. This Agreement may be renewed for {{renewal_period}} further terms of {{renewal_term_years}} years each, upon mutual written agreement of the Parties and on such terms as may be negotiated, provided that the Operator provides written notice of its intent to renew at least {{notice_period_days}} days prior to the expiration of the then-current term.

2. DUTIES AND RESPONSIBILITIES OF THE OPERATOR

2.1. The Operator shall have the sole and exclusive right and responsibility for the management, operation, and administration of the Hotel in a first-class manner, consistent with industry standards for similar hotels in {{geographic_region}}.

2.2. The Operator's duties shall include, but not be limited to, the following:

a) Employing, training, supervising, and directing all personnel required for the efficient operation of the Hotel.

b) Marketing, sales, and public relations activities for the Hotel.

c) Setting room rates and other charges for Hotel services.

d) Preparing and implementing annual operating budgets and marketing plans.

e) Maintaining the Hotel in good repair and condition, subject to the Owner's approval for capital expenditures.

f) Collection of all revenues and disbursement of all operating expenses.

g) Compliance with all applicable laws, regulations, and ordinances.

h) Providing regular financial and operational reports to the Owner.

3. OWNER'S RESPONSIBILITIES AND OBLIGATIONS

3.1. The Owner shall be responsible for providing and maintaining the Hotel property in good structural condition.

3.2. The Owner shall provide adequate working capital for the initial operation of the Hotel as agreed upon in the annual budget.

3.3. The Owner shall ensure all necessary licenses and permits for the operation of the Hotel are obtained and maintained, unless otherwise agreed for the Operator to handle.

3.4. The Owner shall review and approve the annual operating budget and capital expenditure budget submitted by the Operator within {{approval_days}} days of submission.

4. FEES AND REMUNERATION

4.1. The Owner shall pay the Operator a management fee structured as follows:

a) A Base Management Fee of {{base_management_fee_percentage}}% of the Gross Operating Revenue of the Hotel, payable monthly.

b) An Incentive Management Fee of {{incentive_management_fee_percentage}}% of the Gross Operating Profit (GOP) of the Hotel, payable quarterly.

4.2. All fees shall be paid by the Owner to the Operator within {{payment_days}} days of the end of the respective payment period.

4.3. The Operator shall be entitled to reimbursement for all approved and documented out-of-pocket expenses incurred in the performance of its duties under this Agreement.

5. REPORTING AND ACCOUNTING

5.1. The Operator shall maintain accurate and complete books of account and records for the Hotel in accordance with generally accepted accounting principles.

5.2. The Operator shall provide the Owner with monthly financial statements, including a profit and loss statement, balance sheet, and cash flow statement, within {{reporting_days}} days after the end of each month.

5.3. An annual audit of the Hotel’s financial records shall be conducted by an independent auditor mutually agreed upon by the Parties, the cost of which shall be borne by the Owner.

6. TERMINATION

6.1. This Agreement may be terminated by either Party upon written notice to the other Party in the event of a material breach of any provision of this Agreement, which breach is not remedied within {{cure_period_days}} days after receipt of written notice thereof.

6.2. The Owner may terminate this Agreement without cause upon {{notice_period_months}} months' written notice to the Operator, subject to payment of an agreed-upon termination fee of {{termination_fee_amount}}.

6.3. Upon termination of this Agreement, the Operator shall promptly hand over to the Owner all books, records, assets, and properties pertaining to the Hotel’s operation.

7. GOVERNING LAW AND DISPUTE RESOLUTION

7.1. This Agreement shall be governed by and construed in accordance with the laws of {{governing_law_country}}.

7.2. Any dispute, controversy, or claim arising out of or in connection with this Agreement, including any question regarding its existence, validity, or termination, shall be referred to and finally resolved by arbitration under the rules of the {{arbitration_institution}} in {{arbitration_city}}, {{arbitration_country}}.

8. ENTIRE AGREEMENT

This Agreement constitutes the entire agreement between the Parties with respect to the subject matter hereof and supersedes all prior agreements, understandings, and negotiations, whether written or oral, between the Parties relating to such subject matter.

SIGNATURES

IN WITNESS WHEREOF, the Parties hereto have executed this Agreement as of the date first above written.

FOR AND ON BEHALF OF THE OWNER:

_____________________________

Name: {{owner_signatory_name}}

Title: {{owner_signatory_title}}

Date: {{owner_signature_date}}

FOR AND ON BEHALF OF THE OPERATOR:

_____________________________

Name: {{operator_signatory_name}}

Title: {{operator_signatory_title}}

Date: {{operator_signature_date}}