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Expert Analysis

Early Termination Of Hotel Management Contracts Is Costly

Law360, New York (February 19, 2015, 3:21 PM EST) -- In the immediate aftermath of the Great Recession, a handful of hotel owners — especially of luxury hotels — sought to rid themselves of their long-term management contracts. Although these contracts were negotiated for terms of many decades and gave the owner no right to terminate absent a material breach by the manager, some owners determined that it was nevertheless in their interest to break their agreements prematurely. This article examines the costliness of those owners' decisions. Case study after case study reveals an expensive and lengthy process that benefits the owners' lawyers more than the owners themselves....

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