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2025-04-25 14:00:00

Master hotel transaction essentials: due diligence, management agreements, franchise considerations, and closing provisions for successful acquisitions and sales.

2025-04-25 14:00:00

Master hotel transaction essentials: due diligence, management agreements, franchise considerations, and closing provisions for successful acquisitions and sales.

2025-04-25 14:00:00

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Course Overview

Navigating Hotel Purchase and Sale Agreements

Participants will learn to evaluate, negotiate, and close hotel acquisitions by mastering due diligence, seller representations, management agreements, and closing provisions. These skills enable attorneys to protect clients in complex hospitality transactions.

Due Diligence

Evaluate operating businesses beyond traditional real estate.

Seller Representations

Negotiate warranties that survive closing effectively.

Management Agreements

Assess termination rights and fee structures.

Closing Provisions

Structure contingencies and working capital adjustments.

Course Overview

Navigating Hotel Purchase and Sale Agreements

Participants will learn to evaluate, negotiate, and close hotel acquisitions by mastering due diligence, seller representations, management agreements, and closing provisions. These skills enable attorneys to protect clients in complex hospitality transactions.

Due Diligence

Evaluate operating businesses beyond traditional real estate.

Seller Representations

Negotiate warranties that survive closing effectively.

Management Agreements

Assess termination rights and fee structures.

Closing Provisions

Structure contingencies and working capital adjustments.

Why Attend

Why this 
program matters

Understanding hotel purchase and sale agreements is critical for legal practitioners because these transactions involve complex operating businesses with real estate, management agreements, franchise obligations, and multi-jurisdictional compliance requiring specialized expertise.
$21B
Total U.S. hotel transaction volume in 2024, down from $25+ billion in 2023, as buyers and sellers struggled to agree on pricing in a higher-rate environment.
54%
Year-over-year growth in global cross-border hotel investment in 2024, boosting total hotel transaction volumes by 16% according to CBRE’s Global Hotel Capital Flows report.
93%
Of hotel management contracts now include performance termination provisions, a major shift observed over the past 20 years according to the JLL and Baker McKenzie Hotel Management Contract Survey 2024.
$204k
Average price per key for U.S. hotel sales in H1 2025, up 3.5% year over year, according to JLL’s U.S. Hotel Investment Trends report.

Agenda

Session 1

Due Diligence and Property Evaluation for Hotels

Session 2

Seller Representations and Warranties in Hotel PSAs

Session 3

Evaluating Hotel Management and Franchise Agreements

Session 4

Retaining or Terminating Management and Franchise Affiliations

Session 5

Break

Session 6

Closing Contingencies and Key PSA Provisions

Session 7

Litigation, Dispute Resolution, and Structural Transaction Issues

clock 2:00 pm - 2:20 pm EST

Due Diligence and Property Evaluation for Hotels

Guy Maisnik

Jeffer Mangels Butler & Mitchell LLP

Jonathan Falik

JF Capital Advisors

Tara K. Gorman

Womble Bond Dickinson

This session examines the unique nature of hotel transactions as operating businesses on real estate, where approximately half the value derives from operations. Participants will learn comprehensive due diligence components including title review, environmental assessments, intellectual property considerations, and strategies for managing the study period effectively.

Guy Maisnik

Jeffer Mangels Butler & Mitchell LLP

Jonathan Falik

JF Capital Advisors

Tara K. Gorman

Womble Bond Dickinson

clock 2:20 pm - 2:35 pm EST

Seller Representations and Warranties in Hotel PSAs

Guy Maisnik

Jeffer Mangels Butler & Mitchell LLP

Jonathan Falik

JF Capital Advisors

Tara K. Gorman

Womble Bond Dickinson

This session explores why representations and warranties matter as provisions that survive closing and enable post-closing claims. Key topics include negotiating scope and limiting qualifications such as materiality, knowledge standards, and disclosure schedules, along with indemnification structures and holdback mechanisms.

Guy Maisnik

Jeffer Mangels Butler & Mitchell LLP

Jonathan Falik

JF Capital Advisors

Tara K. Gorman

Womble Bond Dickinson

clock 2:35 pm - 2:50 pm EST

Evaluating Hotel Management and Franchise Agreements

Guy Maisnik

Jeffer Mangels Butler & Mitchell LLP

Jonathan Falik

JF Capital Advisors

Tara K. Gorman

Womble Bond Dickinson

Participants will learn critical provisions in management agreements including term extensions, fee structures, and performance standards. The session covers the legal structure of management agreements as personal service contracts, assignment considerations, and key franchise agreement terms including liquidated damages and key money obligations.

Guy Maisnik

Jeffer Mangels Butler & Mitchell LLP

Jonathan Falik

JF Capital Advisors

Tara K. Gorman

Womble Bond Dickinson

clock 2:50 pm - 3:00 pm EST

Retaining or Terminating Management and Franchise Affiliations

Guy Maisnik

Jeffer Mangels Butler & Mitchell LLP

Jonathan Falik

JF Capital Advisors

Tara K. Gorman

Womble Bond Dickinson

This session addresses the franchise application process and its timing challenges relative to PSA milestones. Topics include critical termination provisions, comfort letter requirements, and strategies for navigating brand transitions during hotel acquisitions.

Guy Maisnik

Jeffer Mangels Butler & Mitchell LLP

Jonathan Falik

JF Capital Advisors

Tara K. Gorman

Womble Bond Dickinson

clock 3:00 pm - 3:10 pm EST

Break

Guy Maisnik

Jeffer Mangels Butler & Mitchell LLP

Jonathan Falik

JF Capital Advisors

Tara K. Gorman

Womble Bond Dickinson

A brief intermission allowing participants to refresh before continuing with closing provisions and dispute resolution topics. Use this time to review materials and prepare questions for the remaining sessions.

Guy Maisnik

Jeffer Mangels Butler & Mitchell LLP

Jonathan Falik

JF Capital Advisors

Tara K. Gorman

Womble Bond Dickinson

clock 3:10 pm - 3:25 pm EST

Closing Contingencies and Key PSA Provisions

Guy Maisnik

Jeffer Mangels Butler & Mitchell LLP

Jonathan Falik

JF Capital Advisors

Tara K. Gorman

Womble Bond Dickinson

This session covers forward reservations, operating covenants, and balance sheet true-ups required at closing. Participants will learn about contract assignment strategies and the importance of building coordinated transaction teams with specialized expertise.

Guy Maisnik

Jeffer Mangels Butler & Mitchell LLP

Jonathan Falik

JF Capital Advisors

Tara K. Gorman

Womble Bond Dickinson

clock 3:25 pm - 4:10 pm EST

Litigation, Dispute Resolution, and Structural Transaction Issues

Guy Maisnik

Jeffer Mangels Butler & Mitchell LLP

Jonathan Falik

JF Capital Advisors

Tara K. Gorman

Womble Bond Dickinson

This comprehensive session addresses letter of intent negotiations, financing dynamics, and structural considerations in hotel transactions. Key focus areas include employee retention challenges, intellectual property protection, hidden liens and tax exposures, and strategies for resolving disputes that arise during and after closing.

Guy Maisnik

Jeffer Mangels Butler & Mitchell LLP

Jonathan Falik

JF Capital Advisors

Tara K. Gorman

Womble Bond Dickinson

01 07
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Key topics that will be covered

What will you learn

Attorneys will learn how hotels differ from typical real estate transactions because they are operating businesses where approximately half the value derives from operations.

What will you gain

Attorneys will gain practical knowledge of due diligence processes, seller representations and warranties, management agreement evaluations, and critical closing provisions.

Due Diligence
Hotels require specialized diligence including intellectual property, forward bookings, and union status.
Representations
Seller representations survive closing and require careful negotiation of materiality and knowledge qualifiers.
Management Agreements
Evaluate fee structures, performance standards, termination provisions, and assignment rights carefully.
Franchise Agreements
Franchise agreements are rarely assigned and require new applications with brand approval.
Union Considerations
Union agreements can increase expenses by 25-30% primarily through restrictive work rules.
Closing Provisions
Forward reservations, working capital true-ups, and contract assignments require careful coordination.

What will you learn

Attorneys will learn how hotels differ from typical real estate transactions because they are operating businesses where approximately half the value derives from operations.

What will you gain

Attorneys will gain practical knowledge of due diligence processes, seller representations and warranties, management agreement evaluations, and critical closing provisions.

Plans

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Included Included Included
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Individual Purchase
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Premium
Corporate CLE Plan
$95 – $245
Price varies based
on the course duration
of 1 to 3+ hours
Access type Pay per
class
Number of Available Webinars 1
Number of New Webinars Added Yearly Limited
Earn "Live" CLE credit Included
Ability to Ask Questions During
the Presentation via a Chat Box
Included
Attend "Live" Re-Broadcasts Included
Exclusive Partner Webinars & Events
Special credits (Ethics, Elimination
of Bias, etc.)
Instant Certificates After Completion
Personalized CLE Platform
Live Conferences
Bootcamps

speakers

Joe Ervin

The Law Firm for Truck Safety, LLP
A Partner at The Law Firm for Truck Safety. He focuses exclusively on cases involving commercial motor vehicle crashes and wrongful death. Joe also holds a valid class “A” commercial driver’s license with endorsements for double/triple trailers and tankers.

Education & Credentials

A 2013 graduate of the Gerry Spence Trial Lawyers College in Dubois, Wyoming, Joe is rated AV Preeminent™ by Martindale-Hubbell — the highest peer rating for exceptional legal ability and ethics. He is among the first nine attorneys nationwide to earn board certification in Truck Accident Law from the National Board of Trial Advocacy.

Recognition & Leadership

Joe received the Roadway Safety Award from the American Association for Justice (AAJ) for his commitment to improving highway safety.
 He currently serves as Co-Chair of the Academy of Truck Accident Attorneys (ATAA) Safety Committee, advocating for higher safety standards across the trucking industry.

Professional Involvement

Joe serves on the faculty of the AAJ Advanced Trial Advocacy College: Litigating Truck Collision Cases (2015 & 2024).
 He is an active member of AAJ’s Trucking Litigation Group and sits on the Board of Regents for the Academy of Truck Accident Attorneys.

Experience

Joe frequently consults and co-counsels on complex commercial truck cases. His proven track record includes numerous successful trials against motor carriers and truck leasing companies — delivering justice for victims of commercial vehicle accidents.

Kevin Foley

Reminger Co
A Partner at The Law Firm for Truck Safety. He focuses exclusively on cases involving commercial motor vehicle crashes and wrongful death. Joe also holds a valid class “A” commercial driver’s license with endorsements for double/triple trailers and tankers.

Education & Credentials

A 2013 graduate of the Gerry Spence Trial Lawyers College in Dubois, Wyoming, Joe is rated AV Preeminent™ by Martindale-Hubbell — the highest peer rating for exceptional legal ability and ethics. He is among the first nine attorneys nationwide to earn board certification in Truck Accident Law from the National Board of Trial Advocacy.

Recognition & Leadership

Joe received the Roadway Safety Award from the American Association for Justice (AAJ) for his commitment to improving highway safety.
 He currently serves as Co-Chair of the Academy of Truck Accident Attorneys (ATAA) Safety Committee, advocating for higher safety standards across the trucking industry.

Professional Involvement

Joe serves on the faculty of the AAJ Advanced Trial Advocacy College: Litigating Truck Collision Cases (2015 & 2024).
 He is an active member of AAJ’s Trucking Litigation Group and sits on the Board of Regents for the Academy of Truck Accident Attorneys.

Experience

Joe frequently consults and co-counsels on complex commercial truck cases. His proven track record includes numerous successful trials against motor carriers and truck leasing companies — delivering justice for victims of commercial vehicle accidents.

Grant H. Lawson

The Law Firm for Truck Safety, LLP
A Partner at The Law Firm for Truck Safety. He focuses exclusively on cases involving commercial motor vehicle crashes and wrongful death. Joe also holds a valid class “A” commercial driver’s license with endorsements for double/triple trailers and tankers.

Education & Credentials

A 2013 graduate of the Gerry Spence Trial Lawyers College in Dubois, Wyoming, Joe is rated AV Preeminent™ by Martindale-Hubbell — the highest peer rating for exceptional legal ability and ethics. He is among the first nine attorneys nationwide to earn board certification in Truck Accident Law from the National Board of Trial Advocacy.

Recognition & Leadership

Joe received the Roadway Safety Award from the American Association for Justice (AAJ) for his commitment to improving highway safety.
 He currently serves as Co-Chair of the Academy of Truck Accident Attorneys (ATAA) Safety Committee, advocating for higher safety standards across the trucking industry.

Professional Involvement

Joe serves on the faculty of the AAJ Advanced Trial Advocacy College: Litigating Truck Collision Cases (2015 & 2024).
 He is an active member of AAJ’s Trucking Litigation Group and sits on the Board of Regents for the Academy of Truck Accident Attorneys.

Experience

Joe frequently consults and co-counsels on complex commercial truck cases. His proven track record includes numerous successful trials against motor carriers and truck leasing companies — delivering justice for victims of commercial vehicle accidents.

Guy Maisnik

Jeffer Mangels Butler & Mitchell LLP

Jonathan Falik

JF Capital Advisors

Tara K. Gorman

Womble Bond Dickinson

Guy Maisnik

Jeffer Mangels Butler & Mitchell LLP

Guy Maisnik

Jeffer Mangels Butler & Mitchell LLP

Jonathan Falik

JF Capital Advisors

Jonathan Falik is the Founder and Chief Executive Officer of JF Capital Advisors, leading the firm’s hospitality business including equity and debt placement, asset acquisitions and dispositions, portfolio transactions, JV structuring, asset management, and strategic and capital markets advisory services.

Education & Credentials

CPA at Price Waterhouse

Experience

Over 25 years of experience in real estate and lodging sector. Senior Managing Director and Head of Hospitality Capital Markets at BGC Real Estate Capital Markets. Head of Hotel Investment Sales for Newmark Grubb Knight Frank. Managing Director and Head of Lodging and Leisure Investment Banking group at Cantor Fitzgerald & Co. CEO of Eagle Hospitality Trust, a 13 hotel-property private REIT. Led acquisition or development of 25 hotels with over 5,500 keys and approximately $1 billion aggregate cost. Led sales of single assets and portfolios of 88 hotels for over $2.2 billion of value. Worked on numerous M&A and financing transactions involving over 2,000 hotels and over $30 billion of transaction value. Investment banker at Bear Stearns in Gaming, Lodging and Leisure Group.

Tara K. Gorman

Womble Bond Dickinson

Tara Gorman focuses her practice on hospitality law, advising clients domestically and internationally on hotel acquisitions, licensing, branding, financings, operation, and development, with extensive experience in management, licensing, and branding agreements for hotels, restaurants, water parks, and casinos.

Recognition & Leadership

Author of The Law Goddess Blueprint and contributing writer to the textbook Hotel Law – Transactions, Management and Franchising. Regularly speaks at conferences and seminars on real estate and hospitality topics.

Professional Involvement

Chair of the Timesharing and Interval Use Committee of the Hospitality Group of the Real Property and Probate Section of the American Bar Association. Professor in Residence (Adjunct) at Washington College of Law of American University in Washington, D.C., as part of the Hospitality and Tourism Law Program. Board of Advisors of Georgetown University Law Center's Hotel & Lodging Legal Summit.

Experience

Extensive experience in management, licensing, and branding agreements for hotels, restaurants, water parks, and casinos. Maintains diverse real estate practice concentrating on commercial real estate acquisitions and sales, office, retail, and data center leasing, and telecommunication license agreements. Represented institutional investors in connection with real estate investments and governmental and quasi-governmental agencies with respect to their real estate holdings.

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