During the signing of agreement between the hotel property owner and the other party, that is the buyer, it is very essential to have valid and legal documents which are considered to be beneficial for long term reference. The hotel company bear the buyer full access and possession of the sold goods that was earlier owned by the hotel. Situations like these are generally said to arise, when the hotel is held as mortgage and has been unable to repay the borrowed amount of money.
In recent times, many hotels are venturing for extended services and relying on other companies in order to get better and efficient standards in their hotels. There are many hotels in New York City which have aligned themselves and collaborated with other service providing companies in order to improve quality and raise their hotel standards.
Cigar and Newsstand periodicals and magazines are being sold in hotels nowadays. Being sanctioned by the hotel owners, popular brands and companies are often seen endorsing their products and services within the hotel premises. Agreements have been made between the licensor and licensee with regard to such sanctions that were generally not prevalent earlier.
Among the necessary facilities that can be offered by a quality service providing hotel is its parcel storage ability for the residing guests. Due to hectic work schedules and travel needs, guests are known to miss receiving valuable parcels and articles which have been delivered to them while they were away.
For profit generating interests, hotels are adding up special services in order to expand its customer base. Bid Agreement-Transportation Employee Accommodation is a considered to be one such form of agreement between the property broker and hotel owner. It has been agreed between the parties in exchange of accommodation that is to be provided to employees of transport companies.
In proper hotel management and accounting, balance sheet is considered to play a crucial role especially with regards to forecasting potential sales and expenses and analysing past financial records. Balance sheet forms one of the necessary tools for the hotel accountant or finance controller.
One of the interesting agreements between the lessor and lessee party of hotel property is the bond with regard to Alterations, Additions and Improvements. Stating that the lessee can freely make improvements and necessary changes in overall property, lessor has also the right to terminate the lease after the expiry of the lease period.
We have come across a lot of situations in recent times where hotel owners have effectively provided managers with the responsibility to manage the entire hotel all by themselves while they are away or are unable to carry out their functions. Such vast authority can only be applicable with valid legal documents followed by an Agreement to Manage Hotel.
When a change of hands in business comes in, then the future of the previously existing employees are usually at stake. However there are times when it may so happen that the new owner decides to keep all or certain employees to continue with the new management. For instance in a hotel business,
The management and organisation of any hotel business is not easy and especially to people’s surprise, managing a smaller hotel business is much tougher than running a five star association. The reason being that the number of staff is less, but the work load is same and so are the expenses and organisational duties.