Getting the Exit Right: Negotiating a Hotel Management Agreement Termination

Owners rarely hold a unilateral right to leave an HMA. Here’s how to dismantle the operator’s opening compensation demand and cap post-termination property restrictions when negotiating a voluntary exit.

Sinking Fund Arbitrage: Is Your Operator Shifting OpEx to Artificially Inflate Their Incentive Fees?

How vague CapEx sinking fund language lets operators shift routine OpEx into the reserve account, inflate GOP, and pocket a bigger incentive fee — and the audit and clawback rights that shut it down.

The Institutional HMA Trap: Who Owns Your Guest Data When the Flag is Lowered?

Global HMAs often hand guest data exclusively to the operator’s CRM. Here’s the ownership and portability language institutional owners need before signing — and what happens if you don’t.