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A hotel management contract is a legally binding agreement between the hotel owner and the management firm. It should set forth both party's expectations, responsibilities, and duties. The term sheet should include all necessary provisions related to the exchange of services that explicitly documents the agreement.
Under a hotel management contract, the owner of the hotel real estate and business appoints a management company to operate the hotel business on the owner's behalf. Some management companies are also brand owners, in which case the hotel will be operated under the management company's brand.
An employment contract typically includes the following elements: Duration of employment, if applicable. Salary or wages. General job responsibilities. Work schedule. Benefits. Confidentiality. Non-compete agreement. Severance pay, if applicable.
A management contract is an arrangement or agreement between two parties where one party, known as the manager, agrees to provide management services to the other party, known as the client, for an agreed duration. The client may be a person, a company or an organization.
The general manager is in charge of all daily hotel operations to guarantee that guests enjoy an outstanding experience. They are responsible for all hotel services, such as guest relations, front desk, housekeeping, maintenance, revenue management, expense management, team building, and employee development.