First-Class Hotel definition

First-Class Hotel means full-service hotels and full service all-suites hotels located in the United States of America that provide food and beverage service and meeting and banquet space and that are included in the upper upscale chain scale, as classified by Xxxxx Travel Research.

First-Class Hotel means a hotel or resort which is, or is of a quality so that it will be, rated as a three star or three diamond hotel or higher under the rating criteria established for hotels by the American Automobile Association, J.D. Power & Associates, Mobil Oil Company, or comparable hotel rating entity, and which includes operation of the hotel on a twenty-four hours per day/seven days a week basis with housekeeping services, food and beverage services, room services, banquet and meeting services, including at least 20,000 square feet of meeting/banquet space, concierge and bell services, and parking services.

First-Class Hotel means a full-service, first-class hotel rated in the “luxury” or “upper upscale” brand category.

Examples of First-Class Hotel in a sentence

• Commonwealth shall have 10 business days from receipt of such notice from the Company to notify the Company in writing that Commonwealth elects to manage, or cause one of its subsidiaries to manage, the First-Class Hotel pursuant to a management agreement that is no less favorable to the Company than the terms and conditions set forth in the form attached hereto as Annex A, together with any such other material modifications as agreed to by a majority of the Independent Directors.

• Not less than 30 days prior to the Company’s acquisition of a First-Class Hotel or the completion and opening of a First-Class Hotel, the Company will notify Commonwealth of the same and will make available to Commonwealth all information reasonably available to the Company with respect to such First-Class Hotel.

• Each of the Commonwealth Parties agrees not to manage any First-Class Hotel in a Competitive Set, unless waived by a majority vote of the Independent Directors.

• If Commonwealth (i) notifies the Company that Commonwealth or a subsidiary of Commonwealth does not intend to manage such First-Class Hotel or (ii) fails by the end of the 10 business day period to notify the Company of its election to manage the First-Class Hotel, then, in either event, the Company may offer management of such First-Class Hotel to other hotel management companies on such terms as the Company shall determine and Commonwealth shall have no further rights with respect thereto.