net operating profit
In the hospitality industry, profit after deducting all cost of distribution and operating expenses from the revenues generated by a hotel. [...]
gross operating profit
In the hospitality industry, profits after subtracting all operating expenses, used to measure a hotel's operating profitability. [...]
threshold
A given level or specific monetary amount for a contract or contract item. [...]
outsourcing clause
A clause in an operating agreement that regulates the appointment of providers of external services to the operations of the business. [...]
termination rights
Contract provisions that allow the contractual parties to terminate the agreement, including termination without cause, for breach, and on sale of the [...]
assignment right
The right of an operator to assign the operating agreement with the business owner to a third-party successor operator. [...]
