COVID upended hotel management contracts forever

As a result of the pandemic, hotel management agreements are undergoing changes to better address the decision to shut down a hotel and handling of employees during a crisis and to allow flexibility when there are unforeseen circumstances affecting business, says Michael Kosmas, partner at Stroock & Stroock & Lavan who heads the law firm’s global hospitality and leisure practice. “It’s important not to say, well, COVID was once in a lifetime, now let’s go back to business as usual,” Kosmas says.