A hotel operating and rental pool agreement is one which is entered into by owners of property and that of a hotel management company. The main purpose of the agreement is to lease the property of the owners to the hotel management company for running its operations. The agreement has two parties namely all the owners of the property put together and the hotel owner.
The agreement provides the various conditions and clauses specific to the lease entered into between the two parties. The agreement also sets out the various rights, duties and responsibilities on the part of both the parties to the agreement in a clear and descriptive manner.
Some of the other contents of the agreement are the terms of contract, assets included, and the conditions for termination of agreement and also the legal remedies available in case a dispute arises between both the parties to the agreement. Lastly the agreement is signed by the legal representatives of both the parties that are the owners and the hotel company.
Hotel Operating and Rental Pool Agreement
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