A proverb states that prudence does not avoid all misfortune, but a lack of prudence never fails to attract it. This is why due diligence is a vital step in buying a hotel. In a hotel acquisition context, the term "due diligence" refers to the investigations carried out by the prospective buyer.
By Christopher Boinet – Lawyer at the Paris Bar and Partners at In Extenso Avocats
In hotel management agreements, hotel chains and owners regularly negotiate what is referred to in the industry as key money. This is the case when competing hotel chains invited to tender by owners are prepared to invest significantly in the long-term management of high-end properties considered strategic for their development.
Hoteliers have a duty to use enhanced security measures to protect guests. This contractual obligation covers all aspects of guests’ private lives, from the protection of their person and property to the protection of their image and personal or confidential data.
Business leaders across Europe are more optimistic than they were six months ago and the outlook for revenue growth, hiring and capital spending is improving, according to Deloitte's latest European CFO Survey.
With around 1 560 establishments and a further 80 projects in the pipeline, the City of Light is a veritable breeding ground for hotels. Paris' successful bid to host the 2024 Olympic Games will undoubtedly provide an excellent excuse for many properties to treat themselves to a makeover.
Cultivating employee engagement can help restaurants create positive customer experiences and reduce costly turnover. By focusing on the five core elements of employee engagement, restaurants can create a motivated workforce of brand ambassadors that take ownership of the customer experience.