For Hotel Deals, 'Key Money' Is Back In Play

Law360, New York (October 4, 2013, 2:51 PM EDT) -- With market competition at new highs, hotel operators and franchisors are increasingly using up-front cash — popularly dubbed key money — to cinch new long-term contracts with an owner. But be prepared for some tough negotiations to come with the incentive, hospitality attorneys say.

The hotel business is back to booming, which has hotel management companies and brands hungry to expand quickly — and more inclined to offer cash early on to woo the owner of a target property, experts say. But this isn't usually a...
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