ABSTRACT
This introduction presents an overall view of keyconcepts discussed in the subsequent chapters of this book. The book examines various aspects of the Hotel Management Agreement and the Owner-Manager relationship. It reviews the evolution of the hospitality industry, and how that evolution relates to the evolution of the Hotel Management Agreement and the Owner-Manager relationship. The use of the 'Owner's voice in illuminating the hotel management or franchise documents arises out of necessity, but, nevertheless, with the intent of fairly describing the competing interests of the parties. The book focuses on guest lodging facilities, the Franchise Agreement and the Owner-Manager and Franchisor-Franchisee relationship. President Gerald Ford signed the Tax Reform Act of 1976, which included the initial legislation providing enhanced benefits to the Real Estate Investment Trusts (REITs) structure. In the early days of Hotel Management Agreements, the Brand, with its operational expertise and Brand affiliation, held the majority of the negotiating power and control over the process.
