Chapter 5 - Significant hospitality contracts. In this chapter, you will learn: Contract clauses commonly utilized in the hospitality industry, the purpose of a franchise contract (franchise agreement), the purpose of a management contract (management operating agreement),. | Chapter 5 Significant Hospitality Contracts Significant Hospitality Contracts Specific Contract Clauses Franchise Contracts Management Contracts Conference Service Contracts In This Chapter, You Will Learn: Contract clauses commonly utilized in the hospitality industry. The purpose of a franchise contract (franchise agreement). The purpose of a management contract (management operating agreement). Important forms of meeting space contracts used in lodging operations. Important forms of group rooms contracts used in lodging operations. Specific Contract Clauses Franchise-related Contracts Management Operating Agreements Meeting Space Contracts Group Lodging Contracts Specific Contract Clauses Legalese: Operating agreement – a contract that details the areas of responsibilities of the owner of a business and the entity selected by the owner to operate the business. Also referred to as a “management contract” Specific Contract Clauses Legalese: Meeting Planners – A group of professionals that plan and organize meetings and events for their employers and clients Search the Web Meeting Professionals International (MPI) is the world’s largest association of meeting planning professionals, with over 20,000 members. You can learn more about this group by visiting its Web site at . Note the large number of educational services it offers. Many of these are designed to help the members better negotiate and administer the meetings contracts they execute with the hotels they select for their meetings. Group Lodging Contracts Legalese: Clause (contract) – a distinct contract provision or stipulation Essential Clauses for Providing Products and Services to Guests Length of time the contract price terms exist. Identification of who is authorized to modify the contract. Deposit and cancellation policies. Allowable attrition. Essential Clauses for Providing Products and Services to Guests Indemnification for damages. Payment . | Chapter 5 Significant Hospitality Contracts Significant Hospitality Contracts Specific Contract Clauses Franchise Contracts Management Contracts Conference Service Contracts In This Chapter, You Will Learn: Contract clauses commonly utilized in the hospitality industry. The purpose of a franchise contract (franchise agreement). The purpose of a management contract (management operating agreement). Important forms of meeting space contracts used in lodging operations. Important forms of group rooms contracts used in lodging operations. Specific Contract Clauses Franchise-related Contracts Management Operating Agreements Meeting Space Contracts Group Lodging Contracts Specific Contract Clauses Legalese: Operating agreement – a contract that details the areas of responsibilities of the owner of a business and the entity selected by the owner to operate the business. Also referred to as a “management contract” Specific Contract Clauses Legalese: Meeting Planners – A .
