Hotel Standards definition

Hotel Standards means the standards established by the respective Franchisors of the Hotels from time to time.

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Hotel Standards means the operation of the Hotel in a manner consistent with (i) the requirements under the Franchise Agreement; (ii) the condition of the Hotel as of the Commencement Date (or, the condition of the Hotel as of the completion of the Renovation), normal wear and tear excepted; (iii) the condition and level of the operation of hotels of comparable class and standing to the Hotel in its market area; (iv) then current market conditions regarding rental rates and lease terms and conditions with respect to Hotels of comparable class and standing to the Hotel (including but not limited to the Competitive Set); and (v) then current business and management practices (including those related to compliance with Legal Requirements) applicable to the management, operation, leasing, maintenance and repair of a hotel comparable in size, character and location to the Hotel.

Hotel Standards means the standards set forth in Exhibit “B”. “Improvement Costs” means:

Examples of Hotel Standards in a sentence

Subject to the provisions of the Approved Budget, Operator shall from time to time make such expenditures for repairs and maintenance as are necessary to keep the Hotel in good operating condition in accordance with the Hotel Standards.
Lessee and Operator acknowledge that it is the intention of the parties that the Hotels be operated in a profitable manner and in a manner for comparable hotels operated by a national operator within the Hotel’s market segment, all in accordance with the Hotel Standards.
The Hotel Operating Budget and the Hotel Capital Budget shall provide for operating, equipping and maintaining the Hotel in accordance with the Hotel Standards.
Operator hereby represents that Operator (i) is experienced and capable and will remain experienced and capable in the management and operation of hotels throughout the United States of America, (ii) has reviewed and understands the terms and provisions of the Lease and the Franchise Agreements and the Hotel Standards, and (iii) will, on the effective date of this Agreement, meet the requirements to be an “eligible independent contractor” under Section 856(d)(9) of the Internal Revenue Code.
The Operating Budget and the Hotel Capital Budget shall provide for operating, equipping and maintaining the Hotel in accordance with the Hotel Standards.
Operator hereby represents that Operator (i) is experienced and capable and will remain experienced and capable in the management and operation of the hotel in the regions it manages hotels, (ii) has reviewed and understands the terms and provisions of the Lease and the Franchise Agreements and the Hotel Standards, and (iii) will, on the effective date of this Agreement, meet the requirements to be an “eligible independent contractor” under Section 856(d)(9) of the Internal Revenue Code.
Operator shall maintain a sales staff dedicated to the Hotels to arrange, contract for and carry out such marketing, advertising, national trade show attendance, and promotion of the Hotel as Operator shall deem advisable and consistent with the Approved Budget and in accordance with the Hotel Standards.
Without limiting the generality of the foregoing, Operator agrees to maintain the levels of Inventories and Operating Equipment and Supplies at standards consistent with past practice and the requirements of the Hotel Standards through the date of termination of this Agreement, including the period after a notice of termination of this Agreement has been given by Lessee or Operator.
Subject to the provisions of the Approved Operating Budget and subject to receipt of sufficient funds by Lessee, Operator shall from time to time make such expenditures for repairs and maintenance as are necessary to keep the Hotel in good operating condition in accordance with the Hotel Standards.
Operator shall endeavor in good faith and consistent with prudent hotel management to maximize the profitability and value of the Hotel consistent with the Hotel Standards; provided, however, that Operator has not made and shall not be deemed to have made any guaranty or warranty with respect to the financial performance or profitability of the Hotel, or the present or long-term value of the Hotel.

More Definitions of Hotel Standards

Hotel Standards means the standards set forth in Exhibit “N”. Independent License Agreement has the meaning ascribed in Section 12.4. Industry Standards has the meaning, collectively, ascribed in Section 12.2.

Hotel Standards means the systems, standards and policies which apply to the Hotel and which the Hotel Operator is required to uphold and enforce in order to comply with its own or its licensor’s branding and operating standards, including, but not limited to, standards of upkeep and maintenance for all Common Elements and Shared Components. Provisions of this Declaration that impose or refer to the Hotel Standards may only be amended or modified with the prior, written consent of the Developer (for so long as the Developer is an Owner) and the Hotel Operator. Notwithstanding the foregoing, provisions of this Declaration that impose or refer to Hotel Standards may only be enforced by the Hotel Operator when operating pursuant to a franchise, license or other agreement with a hotel management or franchise company to operate the Hotel under a brand name or hotel “flag”. So long as the Hotel is in operation, a copy of the Hotel Standards will be maintained within the Hotel Unit.

Hotel Standards means the standards established by the respective Franchisor of the Hotel from time to time as well as those identified in Section 3.02. "Hotel" shall mean the hotel property described in Exhibit A hereto. "Incentive Fees" shall mean incentive compensation paid by Lessee to Operator for performance above budgeted expectations, achievable to a maximum aggregate payout of two percent (2%) of Gross Hotel Income. The following will trigger Incentive Fee payouts:

Hotel Standards means and refers to those standards for construction, maintenance, management, operation, equipping, furnishing and finishing that are from time to time established for the Hotel by the Hotel Manager.

Hotel Standards means that the Redeveloper shall operate the Hotel so that it meets the overall standards of at least a three-star lodging establishment, as defined by the Forbes Travel Guide, or of at least a three-diamond hotel, as defined by the AAA Diamond Ratings, or if those rating services are not in use, at an equivalent level used by an alternative nationally recognized hotel rating service.