Examples of Hotel Management Agreement in a sentence
Assignor has entered into a certain Hotel Management Agreement (the “Management Agreement”) dated as of August 25, 2022, with Manager, to provide for certain management services with respect to the real property described on Exhibit A attached hereto and made a part hereof for all purposes (the “Premises”).
In addition, the Hotel will be the first newly built hotel under brand "KOKOHOTEL", and will enhance the brand strength of and further improve the Group's portfolio.The Company plans to commence the management of the hotel under a fee-based management contract, and believes that the Hotel Management Agreement will further lower the break-even point of the Group's business and grow revenue and earnings.
Since the Hotel is scheduled to commence its operation in the spring of 2025, the execution of the Hotel Management Agreement will have no impact on the Consolidated Financial Forecast for the Fiscal Year Ending March 31, 2024.
The Project Management Work, any Development Work and the Project Related Services shall be under the exclusive supervision and control of Manager who, except as otherwise specifically provided in this Agreement, shall be responsible for providing the Project Management Work, Development Work and Project Related Services in accordance with this Agreement, the Leases, the Hotel Management Agreement, the Franchise Agreements, the Capital Improvement Budget, the Development Budget and the Development Plan.