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Hotel Integration, Rental Agreements and Brand Standards

Hotel Integration, Rental Agreements and Brand Standards. Condo/Hotel Models Model 1 Developer retains ownership of hotel common areas, including food and beverage operations and a significant percentage of the hotel units. The balance of the units are sold to individual purchasers.

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Hotel Integration, Rental Agreements and Brand Standards

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  1. Hotel Integration, Rental Agreements and Brand Standards • Condo/Hotel Models • Model 1 • Developer retains ownership of hotel common areas, including food and beverage operations and a significant percentage of the hotel units. The balance of the units are sold to individual purchasers. • Developer enters into hotel management agreement with Brand. • Developer also enters into rental management agreements with individual condo/hotel purchasers.

  2. Hotel Integration, Rental Agreements and Brand Standards • Model 2 • Developer sells all condo units and retains ownership of common areas, including food and beverage operations. • Developer enters into hotel management agreement with Brand. • Developer enters into rental management agreements with individual condo/hotel purchasers.

  3. Hotel Integration, Rental Agreements and Brand Standards • Model 3 (Trump Model) • Developer creates traditional condominium. Condominium Association manages all common areas. Developer sells all condominium units. • Condominium Association enters into hotel management agreement. • Hotel Manager or Condominium Association enters into rental management agreements with individual condo/hotel purchasers.

  4. Hotel Integration, Rental Agreements and Brand Standards • From the Brand Perspective • The first two models are preferable • Advantages for a Branded Hotel Operator • The Condo/Hotel Model facilitates the construction of new Hotels • Exposes the Brand to a large number of high income potential customers • Creates Brand Loyalty

  5. Hotel Integration, Rental Agreements and Brand Standards • Challenges for the Brand • Rental Management Contracts • Inventory Management • Compliance with Brand Standards • Accounting Issues • Managing Hotel Operations vs. Managing the Condominium • Understanding the difference between Condo Budgets and Hotel Budgets • Compliance with Brand Standards • Control of Common Areas • Protecting the Brand

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