Insight
30 September 2019
Another Dive into the Intricacies of Operator Performance Tests in Hotel Management Agreements
Hotel operators may be prepared to submit to a Performance Test which gives the hotel owner the option to terminate services in circumstances where performance falls below standard.
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Global hotel industry revenue is predicted to reach US$550 billion in 2016, up 20% from annual revenues just five years ago. Europe and Asia Pacific have the highest hotel occupancy rates in the world, and Millennials are expected to overtake Baby Boomers as the dominant consumer group in the tourism industry by 2017.