Baker & McKenzie's observations from the field: The impact of the global financial crisis on hotel management
In the last 18 months, the hotel industry has moved from an environment where there was a frenetic desire by both owners and operators to sign up new management agreements to one where new signings are comparatively rare. We are being told that attention is switching to how to make the agreement provisions work to maximize operating performance and hotel saleability. Although in more instances than we would like to see, this is really code for 'survival'.
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