Negotiating a Hotel Franchise Agreement…
A non-negotiable franchise agreement is actually ‘mostly’ non-negotiable. However, it can be tricky business, so it is best for an owner to seek professional legal assistance instead of trying to navigate these negotiations on their own and run the risk of looking like an amateur. Jim Butler, hotel lawyer with the Global Hospitality Group recently wrote a blog about hotel franchise agreements. He points out eight areas where contract terms can be improved for the franchisee. The key areas are as follows:
- Franchise and Royalty Fees
- Area of Protection or Non-Competition
- Ownership Transfer
- Independent Management and Changes in Management
- Liquidated Damages
- Capital Investments
- Personal Guarantees
- And Key Money
To read more about what to look at specifically within these topics, read the full article at: http://www.hotel-online.com/press_releases/release/hotel-franchise-lawyer-8-things-to-negotiate-in-your-next-franchise-agreeme
Also, check out the source at www.HotelLawBlog.com. There is a plethora of great information here.
For assistance in Oregon and Washington we recommend talking with Greg Duff at Garvey Schubert Barer. Read his bio…