Ontario Schedule to Purchase Agreement for Hotel Assets

Hire a manager or management company to run the operations of your hotel with this comprehensive Hotel Management Agreement.

• The hotel manager agrees not to provide services to any competing business within a specified radius of the hotel. (This clause is applicable if a management company is being retained to run the business.)
• The owner is responsible for ensuring that the business has adequate cash flow to pay all its operating expenses as they come due.
• The hotel manager is responsible for establishing and maintaining proper accounting systems and records.
• The hotel manager will hire all staff and negotiate all contracts, including union contracts.
• The hotel manager is responsible for preparing a yearly operating plan for the hotel.
• This Hotel Management Agreement template is generic (not country-specific) and is fully editable to meet your specific needs.

Conduct your due diligence business review prior to buying a hotel or motel in Ontario with this Hotel or Motel Acquisition Due Diligence Checklist.

• The checklist lists the various issues that you should review with your legal and financial advisers before proceeding with the purchase of the hotel business.
• The form includes a breakdown of which items are to be handled by (i) the lawyers, (ii) the purchaser, (iii) the vendor.
• The Checklist is downloadable and fully editable.

Buying a hotel or motel is a major investment. Download the free Acquisition Due Diligence Checklist to help you mitigate the risks.