Hotel definition
Examples of Hotel in a sentence
The Hotel Owner shall pay the Asset Manager a management fee as follows: the Hotel Owner or the Property shall pay the Asset Manager a monthly asset management fee (the “Management Fee”) equal to one percent (2%) of the Gross Revenue (as defined in the Hotel Management Agreement), in arrears, within 30 days after the end of each calendar month.
During the term, the Asset Manager will provide the Hotel Owner with the property level asset management services related to the ownership and operations of the Property as set forth on Exhibit A (the “Services”).
The Asset Manager and the Hotel Owner are and intend to remain independent parties.
The Asset Manager shall not be subject to, or have, any liability to, to the Hotel Owner or to any partner, manager, officer, employee, agent or creditor of the Hotel Owner, or to refund any Management Fees paid, for any act or omission in the course of or in connection with rendering or providing the Services under and in accordance with this Agreement other than for its gross negligence, recklessness, willful misconduct, fraud or violation of law.
The Hotel Owner is the owner of certain real Property and improvements thereon located at ______________________________, also known as the ___________________ (the “Property”) pursuant to a hotel management agreement dated on or about the date hereof between _____________ (the “Owner”) and Hotel Manager (the “Hotel Management Agreement”).