Revpar Test. The Hotel would not meet the “RevPAR Test” in a given Fiscal Year if the Hotel RevPAR (defined below) for the Fiscal Year in question was less than 90% of the Average RevPAR of the Competitive Set (defined below) for the same Fiscal Year, as calculated and reported by the Information Source (defined below). For purposes of this Section 2.3(a)(1) (or any other provision that makes reference to the definitions below), the following terms have the meanings indicated below:
Appears in 2 contracts
Sources: Hotel Services Agreement (Murano Global Investments LTD), Hotel Services Agreement (Murano Global Investments LTD)