Hotel Expenses definition

Hotel Expenses means all expenses properly incurred in accordance with Generally Accepted Hotel Accounting Principles and the terms and conditions set out in this Agreement in connection with the earning of the Gross Revenue and chargeable to the Owners in accordance with this Agreement, including, without limitation: (i) the Base Fee; (ii) the Innisfree Marketing and Sales Expenses; (iii) the Innisfree Recoveries; (iv) the Accounting Fee; (v) any amount payable to and in respect of the Employees in accordance with this Agreement, including hiring costs and expenses, Fringe Benefits, withholding amounts and costs of termination; (vi) utility costs and charges; (vii) the cost of the Operating Supplies and Expendables; (viii) expenses in connection with the maintenance and repair of the Hotel Premises and the maintenance and repair of any Furniture, Fixtures and Equipment; (ix) the cost of operating and maintaining any parking facility at the Hotel; (x) travel agent commissions and credit card commissions; (xi) insurance premiums; (xii) deductibles paid in connection with claims on insurance policies required to be maintained under Article XII; and (xiii) the cost of filing any tax returns and reports in regards to the taxes described in Section 6.10(a); but excluding the following: (xiv) the Association Expenses; (xv) Special Assessments for capital improvements (xvi) the Incentive Fee; (xvii) depreciation and amortization; (xviii) capital lease payments; (xix) Capital Expenditures; (xx) any taxes personal to the Owners, including but not limited to income taxes, real property taxes and capital gains taxes; and (xxi) debt service payments payable by the Owners;
Sample 1Sample 2Sample 3
Hotel Expenses includes, inter alia, payment of the Base Management Fee and transfers to the Replacement Reserve, but it does not include Debt Service.
Sample 1Sample 2
Hotel Expenses means expenses incurred to carry out the operation of the Hotel excluding Strata Fees and Whistler Resort Association fees.
Sample 1

Examples of Hotel Expenses in a sentence

  • All Gross Revenue and Hotel Expenses shall be shared and no single Owner has a claim or liability for any specific or singular guest revenue or expense in regard to his particular strata lot.

  • The Gross Revenue and Hotel Expenses shall be shared and the Net Hotel Revenue shall be distributed to the Owners on the terms of this Agreement.


More Definitions of Hotel Expenses

Hotel Expenses. Is defined in Section 12.01 of the Management Agreement as "Deductions." The term "Hotel Expenses" includes, inter alia, payment of the Base Management Fee and transfers to the Replacement Reserve, but it does not include Debt Service.
Sample 1
Hotel Expenses means all costs, expenses and cash disbursements of any type (determined in accordance with the Uniform System of Accounts and generally accepted accounting principles, consistently applied), relating to or arising out of the ownership or operation of the Hotels, including, without limitation, taxes, capital improvements, rental and other payments under any Hotel Lease, debt service (interest and principal) on any indebtedness, expenses of operating, maintaining and repairing the Hotels and funding necessary reserves.
Sample 1
Hotel Expenses means all expenditure incurred in the operation of the Hotel and any off-sales including without limiting the generality of the aforegoing: 2.
Sample 1
Hotel Expenses means all expenses properly incurred in accordance with Generally Accepted Hotel Accounting Principles and the terms and conditions set out in this Agreement in connection with the earning of the Gross Revenue relating to Hotel Business as set out in Schedule 1, including, without limitation:
Sample 1
Hotel Expenses means any Hotel franchise fees and charges, and credit card fees and bank charges relating to the Rental Management Program. Hotel Expenses incurred by Manager in the operation of the Hotel shall be allocated to Owner based on the ratio of the Unit’s Gross Rental Income before Commissions to the aggregate Gross Rental Income from all Units in the Rental Management Program.
Sample 1

Related to Hotel Expenses

  • Travel Expenses means any costs incurred by Licensor associated with the transportation, storage or lodging of equipment, supplies, Licensor employees and other items necessary for business use from Licensor headquarters to Licensee’s facilities. Travel expenses may include, but are not limited to airfare, hotel costs, and meals if applicable. Any travel expenses paid by the Licensee shall be paid at allowable government travel rates consistent with Management Directive 230.10, unless otherwise first approved by the Licensee’s authorized representative.

  • Medical Expenses means those expenses that an Insured Person has necessarily and actually incurred for medical treatment on account of Illness or Accident on the advice of a Medical Practitioner, as long as these are no more than would have been payable if the Insured Person had not been insured and no more than other hospitals or doctors in the same locality would have charged for the same medical treatment.

  • Reimbursable Costs means expenses incurred by the employee in the course of engaging in the planned learning activity and include registration, tuition and examination fees as well as textbooks/discs and applicable taxes. They may also include reasonable, incremental meal, accommodation and travel expenses.

  • Reimbursable Expenses means all assignment-related costs [such as travel, translation, report printing, secretarial expenses, subject to specified maximum limits in the Contract].

  • Common Expenses means expenditures made by or financial liabilities of the association, together with any allocations to reserves.

  • Transfer expenses means all expenses of a transfer that the transfer agreement requires the payee to pay or have deducted from the gross advance amount, including, but not limited to, court filing fees, attorney fees, escrow fees, lien recordation fees, judgment and lien search fees, finders' fees, commissions, and other payments to a broker or other intermediary. Transfer expenses do not include preexisting obligations of the payee that are payable for the payee's account from the proceeds of a transfer.

  • Operating Costs means the incremental expenses incurred by the Recipient on account of Project implementation, management, and monitoring, including for office space rental, utilities, and supplies, bank charges, communications, vehicle operation, maintenance, and insurance, building and equipment maintenance, advertising expenses, travel and supervision, salaries of contractual and temporary staff, but excluding salaries, fees, honoraria, and bonuses of members of the Recipient’s civil service.