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Articles by Christopher Boinet
Reclassifying hotel/restaurant contracts as commercial leases in France: a risky but rewarding move
French courts examine whether hotel/restaurant contracts are true commercial leases, with reclassification offering tenants renewal rights and business asset ownership but subject to a strict two-year limitation period. By Christopher Boinet and Anne Epinat Reclassifying a hotel or restaurant management lease or a service contract as a commercial lease is no easy task in France. But when it succeeds, the benefits can be significant. Disputes are multiplying, however.
Hotel leases: the impact of France's 2026 Simplification Act - a mixed outcome
France's 2026 Simplification Act changes commercial lease rules, capping tenant guarantees at three months' rent, which threatens the viability of built-to-suit hotel lease structures. By Christopher Boinet and Anne Epinat Enacted in France on 26 May 2026, Law No. 2026-403, known as the “Simplification Act,” introduces four changes to the commercial lease regime, presented as significant advances for tenants. However, their impact on hotel leases is mixed.
Key money in Hotel Management Agreements: market practice, legal aspects and accounting issues
Key money is a common practice in the hospitality sector, particularly in connection with hotel management agreements (HMAs). Key money is often negotiated alongside the term sheet, and can raise a number of complex legal, accounting and tax issues. In this article, we look at current market practice, the legal implications of key money and the main points to consider when negotiating it between owners and international operators.
Christopher Boinet
Skip to main content Christopher has extensive knowledge of corporate finance, commercial and real estate transactions, the hotel business, construction law and litigation-related matters. He has wide-reaching experience in managing and structuring investment operations, acquisitions and assignments of resorts (business and premises), financing operations, joint ventures, management and franchising contracts, business organization, audits and dispute resolution.
Hospitality investment: making your joint venture with an international operator a success
A practical guide for hotel owners approached by international operators, covering JV structuring, governance, financing, management agreements, and exit planning. By Christopher Boinet and Anne Epinat Have you been approached by an international operator looking to set up a joint venture (JV)? This can be a valuable opportunity to grow your investment, provided that the JV is structured properly and your interests are well protected.
Owner’s exit strategy: managing in France the termination of a Hotel Management Agreement
The owner’s exit strategy must be considered as soon as the operator is selected, and the Hotel Management Agreement (HMA) negotiated. Indeed, a well-structured exit strategy can help avoid a costly dispute and preserve an asset’s value and liquidity. The following key points, illustrated by real-life examples, should be considered. Hotel operators typically offer in France long-term agreements, ranging from ten to 20 years – sometimes up to 40 years for international chains.
Do Hotel Management Agreements Now Include Too Many Guarantees?
In addition to traditional key money, or those offered in “reverse” management contracts, guarantees are becoming increasingly common in hotel management agreements (HMAs). But are they all beneficial? And if so, how should they be negotiated? Hotel owners are increasingly demanding that operators invest financially to demonstrate their commitment to the hotel management agreement1.
Renewing a Hotel Restaurant Lease in France: Mastering the Concept of “Monovalency”/Single Use for Rent Optimisation
When a commercial lease comes up for renewal, the new rent amount is usually determined through indexing. However, there are exceptions to this rule. In particular, this does not apply when renewing leases for “monovalent” or “single-use” premises. Understanding and applying this principle can help secure more favourable rent conditions. Below, we discuss how to navigate this tricky issue.
Why reps and warranties in France are essential when selling a hotel
The bedrock of any hotel transaction, representations and warranties (“reps and warranties”)1 offer protection to the buyer by guaranteeing that a business’s assets and liabilities conform to the statements of fact made by the seller. Here, we outline the key points and strategies for successfully negotiating reps and warranties when selling a hotel.
Successfully negotiating a “reverse” hotel management agreement in France
With the rise of “reverse” hotel management agreements (HMA), efficiently negotiating with international hotel operators makes it possible for owners to reconcile investment profitability with operational and financial risk control.
Recommended governing law and jurisdiction clauses in French hotel management agreements
Dispute resolution is a key discussion point, all too often overlooked in complex, long-term hotel management agreements (HMAs). The same applies to the prevailing language clause, and French investors should pay particular attention to such issues when negotiating with international hotel operators[i]. These seemingly standard clauses, drafted by hotel operators and included at the end of the HMA, should be carefully examined from the outset of the negotiations (i.e. at the LOI or TS stage).
Hotel management agreements in France and the controversy surrounding the French versus English version
Can international hotel operators push for the English version of a hotel management agreement (HMA) executed in France to be legally enforced? The legal and operational aspects of the contract version are non-negligible, and the interests of each party divergent – the choice between the English or French version of the HMA must therefore be properly considered. This is a delicate point that needs to be rationally addressed when considering entering into a partnership.
Hotel performance test clauses in France – simple wording for maximum success | By Christopher Boinet and Anne Epinat
Termination clauses in hotel management agreements (“HMAs”) are keenly negotiated by owners to ensure the liquidity of their investment. These usually include a termination provision in the event the operator underperforms, generally known as a performance test clause. How are these clauses challenged before the courts in France?
Ad hoc mandates “mandat ad hoc“ for expediating discussions with creditors in France
The French ad hoc mandate is a confidential procedure for the out-of-court settlement of disputes Its aim is to remedy a company’s financial situation before it is declared insolvent. The merits of ad hoc mandates , subject to the article L 611-3 of the French Commercial Code , are well established since these legal mechanisms have proved their worth in preventing and dealing with business difficulties.
Hotel management agreements offer flexibility for hotel investment in France
Under the influence of international operators, hotel management methods in France and Europe have evolved, with management agreements increasingly being favoured over leases. The profile of hospitality investors has also changed, with highly professional funds able to adopt this type of management solution. For the record, hotels in France are operated in several different ways.
GHG Partner David Sudeck Recognized as a Real Estate/Construction Law Trailblazer
Jeffer Mangels Butler & Mitchell LLP (JMBM) is pleased to announce that Real Estate Partner David Sudeck has been recognized in the National Law Journal’s 2022 list of Real Estate/Construction Law Trailblazers. This list honors legal professionals who have made significant marks on the practice, policy and technological advancements in their sector.
Key Hotel Lease Legal Issues in France Today
French hotel leases and contract law governing hotels constitute essential legal and economic stakes for a hotel business in France. The country is, in fact, home to over 17,000 hotels, many of which are operated under commercial leases. For owners and tenants, the legal and economic challenges associated with hotel leases are crucial, especially when the hotel under operation is their main asset.
GHG Partners Guy Maisnik and David Sudeck Recognized by the Los Angeles Business Journal and the Los Angeles Times
JMBM 3 min read 9 June 2022 Jeffer Mangels Butler & Mitchell LLP (JMBM) is pleased to announce that two senior Global Hospitality Group® members were honored last month for their legal accomplishments. Guy Maisnik, Vice Chair of JMBM’s Global Hospitality Group®, has been included in the Los Angeles Business Journal’s list of “Top 100 Lawyers.” This list honors the top lawyers in Los Angeles for their legal achievements, professional impact and community involvement.
ADA Defense Lawyer: DOJ Issues Website Accessibility Guidelines On Website Accessibility
Recently on March 18, 2022, the U.S. Department of Justice (DOJ) issued a “Web Accessibility Guidance” statement for state and local governments and public accommodations (including businesses) under Titles II and III of the Americans with Disabilities Act (ADA). A copy of the Guidance document can be found here.
Hotelogix at HITEC Dubai 2022 showcasing its Multi-property management on the Cloud
Bangalore, 20/05/2022: Hotelogix, a globally leading enterprise-grade cloud-based Hotel Property Management System provider, announced its participation in the 2022 edition of Hospitality Industry Technology Exposition & Conference (HITEC) in Dubai, from 24-26 May. The company will showcase its widely used and highly trusted multi-property management system in the event at Stall-1C10.
Sticking With the Errant Doctor - The Life of a Hotel Doctor
A guest had a flight in a few hours, explained the front desk manager of the Marina Marriott. His wife was ill and needed a doctor’s note to reschedule. How fast could I get there? “Very fast,” I said. The Marriott had called regularly for decades before falling silent a few years before. Hotels occasionally do that, and this call gave me hope. My competitors enjoy an active social life. It was the weekend, and hotels often turn to me when the regular doctor is hard to reach.
Coliving, the on-trend alternative to hospitality in France: Miracle or mirage?
A recent arrival from across the pond, coliving blends shared accommodation and apart-hotel services, combining communal living with amenities that can be worthy of even the best hotel. The concept is catching on and seducing French investors. But as the saying goes, “all that glitters is not gold”. What is coliving, and what advantages does it offer?
Why Airbnb Cleaning Fees Cost So Much Now
As the cost of a vacation climbs, some travelers are paying closer attention to a messy line item: cleaning fees at short-term rentals that can add hundreds of dollars to a trip. The pandemic has put a renewed focus on sanitation, but some short-term-rental guests resent the cleaning fee, a flat-rate charge set by the host that varies widely based on the property and location.
Asia Pacific Hospitality Newsletter - Week Ending 11 March 2022
LHN Indirectly Acquires River Valley Road Property for SGD8.5 million Singapore-based LHN Limited (“LHN”) announced that it’s wholly owned subsidiary (“LHN SB 1”) had entered into an option to purchase (OTP) for the purchase of 298 River Valley Road for SGD8.5 million. The freehold property has a land area of 205.4 square metres and will be acquired with vacant possession on completion.
The Cost of Waiting to Make a Large Gift: Compounding Your Tax Savings
If you are planning to make a large gift as part of your estate plan, you should consider taking advantage of the current tax exemption in effect until the end of 2025. After this time, the exemption will revert back to approximately one-half of its current value. This has potentially huge implications for hospitality executives and other high-net-worth individuals. Gordon Schaller, managing partner of JMBM’s Orange County office, explains below.
BirchStreet Systems Attend BITAC Food & Beverage Event in Tampa
(Las Vegas, NV) BirchStreet Systems attended BITAC Food & Beverage Live from January 30 to February 2 at the Innisbrook Golf Resort in Tampa, FL. BirchStreet Systems Strategic Account Executive John Figliolini said, “The format of the event made for valuable and productive interactions between decision-makers and service providers.
Europe Hotel Transactions Bulletin - Week Ending 25 February 2022
HVS Hodges Ward Elliott advises on sale of Hotel Brooklyn in Manchester to CDL HVS Hodges Ward Elliott acted for Roundapple Hotel Partners in arranging the sale of the long-leasehold interest in the 189-room Hotel Brooklyn in Manchester, to Singaporean REIT CDL Hospitality Trusts. Located in Manchester’s city centre, the newly constructed four-star lifestyle hotel was completed in early 2020, just before the onset of the Covid-19 pandemic.
How to reposition hotel real estate: A methodology
Ever-changing market factors, including external economic forces, shifting demand patterns and changing competitive pressures, can all influence a property's success and constantly require hotel property owners to re-evaluate their asset's position to improve its image, profitability and value. The Basics Hotels are different from other types of real estate because they involve both a special purpose real estate and a daily operation business.
How can capital gains deferral and reinvestment in boutique or traditional hotels be efficiently reconciled in France? | By Christopher Boinet – Hospitality Net
The recent Covid crisis has highlighted the resilience of the hotel sector in France. An investment in a hotel (as in a boutique hotel) should also be regarded by investors as a “pleasure asset”. When benefiting from the French favourable tax reinvestment regime, what should investors be looking at if they wish to make the switch to hospitality?
Airbnb & France: Recent decisions of the French Supreme Court put a sharp brake on Parisian short-term rental activity | By Christopher Boinet – Hospitality Net
Opinion Article 1 March 2021 By Anne Epinat, Partner In Extenso Avocats and Christopher Boinet, Lawyer at the Paris Bar and Partner at In Extenso Avocats 1 minComments On behalf of owners, Airbnb rents out furnished apartments to short stay, non-resident transient visitors.
The five keys to successfully negotiating an off-plan hotel lease, for hotel owners | By Christopher Boinet – Hospitality Net
More than ever, off-plan hotel leases[1] are making headlines in the leisure real estate industry. Stemming from real estate law professional practices, off-plan hotel leases reconcile the legal and financial interests of three distinct actors: the developer (seller), the investor (owner) and the operator (tenant). In a nutshell, it is the owner who is at the hub of an off-plan lease agreement.
Buying a hotel: never without a good liability guarantee agreement! | By Christopher Boinet – Hospitality Net
With an asset and liability guarantee agreement (Garantie d'actif et de passif, or GAP, under French law), the buyer obtains a contractual warranty for ensuring that the price it is paying matches the value of the company being sold. A post-sale tax adjustment or industrial tribunal proceedings in favour of an employee? A GAP agreement covers disputes prior to the sale, if these disputes were undeclared or if insufficient provisions were made for them.
The Tough Negotiation Surrounding Guarantees In Off-Plan Hotel Lease Agreements* | By Christopher Boinet, Anne Epinat & Philippe Gauguier – Hospitality Net
Off-plan hotel leases are often complex and lengthy contracts to negotiate. The parties involved generally engage in several rounds of negotiations, and both the owner and tenant must bitterly debate the guarantees imposed by the former, whose financial stakes are high. During these discussions, the parties commonly debate three types of key guarantees in favour of the owner, enabling them to cover their financial risk during the different off-plan hotel lease drafting and execution phases. 1.
Five Essential Checkpoints For Successful Buy-Side Due Diligence | By Christopher Boinet & Anne Epinat & Christian Bardet – Hospitality Net
A proverb states that prudence does not avoid all misfortune, but a lack of prudence never fails to attract it. This is why due diligence is a vital step in buying a hotel. In a hotel acquisition context, the term "due diligence" refers to the investigations carried out by the prospective buyer. These investigations focus both on the hotel assets (i.e. the operating building as a whole) and the company that owns these assets or operates the hotel.
The Practice Of Key Money In Hotel Management Agreements In France | By Christopher Boinet – Hospitality Net
In hotel management agreements, hotel chains and owners regularly negotiate what is referred to in the industry as key money. This is the case when competing hotel chains invited to tender by owners are prepared to invest significantly in the long-term management of high-end properties considered strategic for their development.
Personal data protection and the hospitality industry in France | By Christopher Boinet & Sarra Jougla-Ygouf – Hospitality Net
France has just adopted the modifications to the Data Protection Act n°78-17, integrating the new General Data Protection Regulation (GDPR) measures. As a reminder, the GDPR - n°2016/679 of the European Parliament and of the Council, voted the 27 April 2016 - is a regulation in EU law on the protection of individuals with regard to the processing of personal data and on the free movement of such data. The act came into effect in all EU member states on the 25 May 2018.
French hotel, tourist residence and apart-hotel leases are evolving
French commercial leases and contract law governing hotels, hotel residences, tourist residences and restaurants constitute essential legal and economic stakes. In this sense, the 2014 Pinel Law represents a major legislative change for landlords and tenants. France counts over 17 000 hotels, 2 400 tourist residences and thousands of apart-hotels and restaurants, many of which are operated under commercial leases.
How Owners And Operators Successfully Negotiate In France ‘reverse’ Hotel Management Agreements
In France, the negotiation to determine whether the hotel's employees are employed by the owner or the operator is a contractual key matter. French owners require more frequently to pass the responsibility of employment to the operator, which has significant consequences on the negotiating and on the drafting of hotel management agreements.
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