This Hospitality Services Agreement (the "Agreement") is entered into as of _____________, 2025 (the "Effective Date"), by and between:
Truckee Flagship 10403, LLC, a [State] limited liability company ("Property Owner"), and
Guesthouse Hospitality Company, a [State] [entity type] ("Service Provider").
Property Owner and Service Provider are collectively referred to as the "Parties" and individually as a "Party."
Property Owner hereby engages Service Provider to provide comprehensive hospitality services for the property commonly known as Guesthouse located at [Property Address] (the "Property"), and Service Provider accepts such engagement, subject to the terms and conditions set forth in this Agreement.
Service Provider shall provide the following services (collectively, the "Services"):
In consideration for the Services, Property Owner shall pay Service Provider as follows:
3.1 Accommodation Revenue: Ten percent (10%) of all rental revenue received by Property Owner from guest room accommodations at the Property.
3.2 Hospitality Services Revenue: Eighty-five percent (85%) of all revenue received by Property Owner from hospitality services provided to guests, including but not limited to culinary services, food and beverage sales, and ancillary guest services.
3.3 Payment Terms: Compensation shall be calculated and paid monthly, within fifteen (15) days following the end of each calendar month, based on revenue received during that month.
4.1 Initial Term: This Agreement shall commence on the Effective Date and continue for an initial term of [___] years (the "Initial Term").
4.2 Renewal: Following the Initial Term, this Agreement shall automatically renew for successive [___]-year periods unless either Party provides written notice of non-renewal at least ninety (90) days prior to the end of the then-current term.
4.3 Termination for Cause: Either Party may terminate this Agreement for cause upon thirty (30) days' written notice if the other Party materially breaches this Agreement and fails to cure such breach within the notice period.
Service Provider shall perform all Services in accordance with the highest standards of hospitality excellence consistent with the Guesthouse brand and the principles of Empathy, Grace, and Courage. Service Provider shall maintain all necessary licenses, permits, and insurance required to perform the Services.
Property Owner shall maintain accurate records of all revenue subject to compensation under Section 3 and shall provide Service Provider with monthly statements detailing such revenue within ten (10) days following the end of each month. Service Provider shall have the right to audit such records upon reasonable notice.
Service Provider retains all rights, title, and interest in and to the Guesthouse brand, trademarks, trade dress, and related intellectual property. Property Owner is granted a non-exclusive license to use such intellectual property solely in connection with the operation of the Property during the term of this Agreement.
This Agreement shall be governed by and construed in accordance with the laws of the State of [___________], without regard to its conflicts of law principles.
This Agreement constitutes the entire agreement between the Parties with respect to the subject matter hereof and supersedes all prior negotiations, understandings, and agreements between the Parties.
By: _________________________
Name: _______________________
Title: ________________________
Date: ________________________
By: _________________________
Name: _______________________
Title: ________________________
Date: ________________________