sustainable practices
The processes employed by services to maintain the qualities that are valued in the physical environment within the means of natural systems (environm [...]
sustainable hotel
A hotel that respects the socio-economic needs of hotel staff and the local community and operated for the profit of the owners and operators while lo [...]
approval clause
A clause in operating agreements that sets out when owner consent is required for decisions affecting business operation, allowing the owner to be inv [...]
owner’s priority return
Deferral of incentive fees to the owner’s debt service such that the incentive fee is not paid if there is insufficient profit to pay the interest on [...]
profit guarantee
The guarantee of a hotel operator of a minimum level of profitability to the business owner as compensation for any shortfall. [...]
key money
An upfront payment made by the operator of a newly built or converted hotel to the owner for entering into the operating agreement, to secure the owne [...]
