What happens on the expiry of a hotel lease?
Romney, Charles
What happens on the expiry of a hotel lease? - 2007 - Journal of Retail and Leisure Property 6(2) 3 April 2007, 93-95(3) .
Hotel leases should provide more specific end-of-lease provisions than most property contracts. Staff should normally be transferred if not required, and pension schemes must be considered. The name and goodwill of the premises must be considered. Forward bookings must be considered, and arrangements to honour or compensate should be enacted. The transfer of business is likely to be an ongoing concern but the new landlord must register for VAT. Operating requirements will need to be transferred satisfactorily. Any tenant improvements may require compensation. These arrangements should be made at the start of the lease.
LANDLORD AND TENANT ACT 1954
TRANSFER OF UNDERTAKINGS REGULATIONS
What happens on the expiry of a hotel lease? - 2007 - Journal of Retail and Leisure Property 6(2) 3 April 2007, 93-95(3) .
Hotel leases should provide more specific end-of-lease provisions than most property contracts. Staff should normally be transferred if not required, and pension schemes must be considered. The name and goodwill of the premises must be considered. Forward bookings must be considered, and arrangements to honour or compensate should be enacted. The transfer of business is likely to be an ongoing concern but the new landlord must register for VAT. Operating requirements will need to be transferred satisfactorily. Any tenant improvements may require compensation. These arrangements should be made at the start of the lease.
LANDLORD AND TENANT ACT 1954
TRANSFER OF UNDERTAKINGS REGULATIONS