The Global Hospitality Group of the Los Angeles law firm Jeffer Mangels Butler & Mitchell LLP (JMBM) has released a second edition of ‘The HMA Handbook,’ a guide for hotel owners, developers, investors and lenders negotiating, re-negotiating or terminating hotel management agreements (HMAs).
‘The hotel management agreement is the linchpin of a successful hotel investment and can add or subtract as much as 25 percent of the value of a hotel,’ says Jim Butler, chairman of JMBM's Global Hospitality Group (pictured left). ‘That is why we received thousands of requests for the first edition, which was released in March 2011.’
The second edition includes five new chapter, including strategies for negotiating a hotel management agreement, an update on HMA litigation and fiduciary duties, and case studies on the terminations of the Waikiki Edition and Turnberry Isle hotel management agreements.
The handbook is available for online downloading.