By Ormend Yeilding (October 26, 2017, 2:36 PM EDT) -- At this time, almost 1,500 new hotel projects are being developed in the United States. Hotel developers need to understand the unique issues presented in negotiating the management agreement for the to-be-constructed hotel, especially if the management company will be one of the large brands like Marriott, Hilton, Hyatt, etc. But many first-time hotel developers are surprised to find out that the management agreement needs to be finalized long before the hotel is built and open for business. This is because construction lenders will not fund a construction loan until the brand management agreement is in place. But how does a management agreement work with respect to a hotel that does not yet exist?...