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Who Will Run Your Franchised Hotel?
Management agreements provide the vehicle through which investors in hotels, restaurants, and other commercial properties engage professional managers to operate their properties. The practice began in the lodging industry after the end of World War II when hotel construction boomed in response to demand from middle-class American families for clean, moderately priced travel accommodations ' the same demand that spawned the Holiday Inn chain and other lodging industry franchises. Investors with no experience in hotel management fueled the boom in hotel construction with their capital, but professional managers generated the returns on investment the investors craved.
By the late 1960s, management arrangements between property owners and independent, professional management companies had become commonplace in the lodging industry. Nowadays, insurance companies, pension funds, and real estate investment trusts (REITs, which the tax laws prohibit from actively managing their own properties) own many of the large hotel and resort properties. These and other institutional investors invariably choose to rely on professional help to operate their properties instead of developing their own property management infrastructures.
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
Judge Rules Shaquille O'Neal Will Face Securities Lawsuit for Promotion, Sale of NFTs
A federal district court in Miami, FL, has ruled that former National Basketball Association star Shaquille O'Neal will have to face a lawsuit over his promotion of unregistered securities in the form of cryptocurrency tokens and that he was a "seller" of these unregistered securities.
Why So Many Great Lawyers Stink at Business Development and What Law Firms Are Doing About It
Why is it that those who are best skilled at advocating for others are ill-equipped at advocating for their own skills and what to do about it?
Blockchain Domains: New Developments for Brand Owners
Blockchain domain names offer decentralized alternatives to traditional DNS-based domain names, promising enhanced security, privacy and censorship resistance. However, these benefits come with significant challenges, particularly for brand owners seeking to protect their trademarks in these new digital spaces.
Coverage Issues Stemming from Dry Cleaner Contamination Suits
In recent years, there has been a growing number of dry cleaners claiming to be "organic," "green," or "eco-friendly." While that may be true with respect to some, many dry cleaners continue to use a cleaning method involving the use of a solvent called perchloroethylene, commonly known as perc. And, there seems to be an increasing number of lawsuits stemming from environmental problems associated with historic dry cleaning operations utilizing this chemical.