What happens on the expiry of a hotel lease?
Language: English Series: Journal of Retail and Leisure Property ; 6(2) 3 April 2007, 93-95(3)Publication details: 2007Subject(s): Summary: 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.| Item type | Current library | Call number | Copy number | Status | Barcode | |
|---|---|---|---|---|---|---|
| Journal article | London Journal article | L138712 (Browse shelf(Opens below)) | 1 | Available | 138712-2001 |
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.