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Owner and Operator of a number of prestigious marinas on the UK’s south coast.
What did Hotel Solutions Partnership achieve for the client?
HSP’s diligent review and recommendations gave the client the assurance that contracting with the operator under a long term management agreement would maximise the economic worth of the proposed hotel. We gave our client a clear understanding of which contract terms would need to be negotiated and we also suggested the inclusion of some additional control mechanisms and protections in the contract.
Hotel Solutions Partnership (‘HSP’) had successfully completed a Feasibility Study and Operator Options Analysis report for this client. We were now asked to evaluate and review commercial terms proposed by the client’s preferred hotel operator.
HSP were asked to review two Heads of Terms documents (Management Agreement and Lease Agreement) and to recommend the operating arrangement that would be most beneficial to our client.
Scope of Work
Two HSP consultants – our legal advisor and our commercial expert were engaged to review and annotate the documents.
In addition HSP prepared a Concise Briefing note for the client which addressed additional legal, commercial and operational issues and concerns not covered in the marginal notes on the Hot documents.
Our Commercial Advisor prepared a simple analysis of potential cash-flows to the client under a number of HMA and Lease scenarios, based upon the trading performance set in the Operator’s projections.
Our Legal Advisor also included some commentary in his report on the differences and pros and cons of a a management agreement versus a lease.
HSP presented the marked up HoT documents and their Concise Briefing Note to the client via a conference call and were able to clarify all client queries.