A Partnership Deed For Hotel Business is essential when two or more individuals or entities decide to jointly operate a hotel business in India. This document is crucial for establishing clear terms of partnership and ensuring compliance with the Indian Partnership Act, 1932, along with various state-specific hospitality regulations. The deed should be prepared before commencing hotel operations and must include detailed provisions about capital contribution, profit sharing, operational management, and decision-making processes. It serves as a fundamental document for securing licenses, bank loans, and other necessary approvals for hotel operations. The agreement becomes particularly important in the Indian context where hotel businesses often operate as family-owned or closely-held partnerships, requiring clear documentation of rights, responsibilities, and succession planning.
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1. Parties: Details of all partners including names, addresses, and contact information
2. Background: Context of the partnership formation and brief description of the hotel business venture
3. Definitions: Key terms used throughout the agreement defined for clarity
4. Partnership Name and Business: Official name of the partnership and nature of hotel business
5. Term and Commencement: Duration of partnership and start date of operations
6. Capital Contribution: Initial and ongoing capital contributions from each partner
7. Profit and Loss Sharing: Ratio and method of distributing profits and losses
8. Management and Control: Partners' roles, responsibilities, and decision-making authority
9. Banking and Finance: Banking arrangements and financial management procedures
10. Books of Accounts: Accounting procedures, audit requirements, and financial record-keeping
11. Partner Meetings: Frequency, procedures, and voting rights for partnership meetings
12. Restrictions on Partners: Non-compete and other restrictive covenants
13. Addition and Retirement of Partners: Procedures for adding new partners or handling partner retirement
14. Death or Incapacity: Procedures in case of death or incapacity of partners
15. Dissolution and Termination: Circumstances and procedures for partnership dissolution
16. Dispute Resolution: Methods for resolving disputes between partners
17. Governing Law: Applicable laws and jurisdiction
18. General Provisions: Miscellaneous legal provisions including notices, amendments, etc.
1. Intellectual Property Rights: Ownership and usage of trademarks, brand names, and other IP (include if the hotel operates under a specific brand)
2. Employee Management: Specific provisions for hiring, firing, and managing hotel staff (include for larger operations)
3. Insurance: Detailed insurance requirements and responsibilities (include for higher-value properties)
4. Environmental Compliance: Specific environmental obligations and commitments (include for eco-sensitive areas or larger properties)
5. Foreign Investment: Provisions relating to foreign investment regulations (include if any partner is non-Indian)
6. Franchise Arrangements: Details of franchise relationships if the hotel operates under a franchise (include if applicable)
7. Property Management: Specific provisions for property maintenance and management (include for owned properties)
1. Schedule A - Capital Contribution Details: Detailed breakdown of each partner's capital contribution
2. Schedule B - Property Details: Complete description of hotel property, including location, facilities, and assets
3. Schedule C - Profit Sharing Mechanism: Detailed calculation method for profit sharing
4. Schedule D - Management Structure: Organizational chart and detailed management responsibilities
5. Schedule E - List of Assets: Comprehensive inventory of partnership assets
6. Appendix 1 - Operating Procedures: Standard operating procedures for hotel operations
7. Appendix 2 - Licenses and Permits: Copies of all relevant licenses and permits
8. Appendix 3 - Insurance Policies: Details of insurance coverage and policies
Relevant legal definitions
Clauses
Relevant Industries
Hospitality
Tourism
Food and Beverage
Real Estate
Leisure and Entertainment
Event Management
Accommodation Services
Restaurant and Catering
Travel and Tourism
Relevant Teams
Legal
Finance
Operations
Management
Compliance
Administration
Property Management
Risk Management
Business Development
Corporate Affairs
Relevant Roles
Hotel Owner
Managing Partner
General Manager
Operations Director
Legal Counsel
Company Secretary
Chief Financial Officer
Hotel Manager
Business Development Manager
Compliance Officer
Property Manager
Finance Director
Partnership Firm Partner
Hospitality Consultant
Risk Manager
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