Making the Best of Contracts

Contracts should be viewed as a way to firm up your relationship with a supplier.

The hotel business is completely cyclical. It's a big roller-coaster. During the down economy, it's a buyers' market. During a strong economy, hotels are in a stronger position.

There was a time when there were great tax advantages to owning hotels, but those tax laws changed in the late 1980s, and now hotels have to perform just like any other business. Ownership demands performance from hotel m

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