Hotel Revenue definition
Hotel Revenue means all revenues, income, Rents, issues, profits, termination or surrender fees, penalties and other amounts arising from the use or enjoyment of all or any portion of the Property, including, without limitation, the rental or surrender of any office space, retail space, parking space, halls, stores, and offices of every kind, the rental or licensing of signs, sign space or advertising space and all membership fees and dues, rentals, revenues, receipts, income, accounts, accounts receivable, cancellation fees, penalties, credit card receipts and other receivables relating to or arising from rentals, rent equivalent income, income and profits from guest rooms, meeting rooms, conference and banquet rooms, food and beverage facilities, health clubs, spas, vending machines, parking facilities, telecommunication and television systems, guest laundry, the provision or sale of other goods and services, and any other items of revenue, receipts or other income as identified in the Uniform System.
Hotel Revenue means all revenue, income and receipts from the Hotel, Conference Center and Restaurant, including without limitation guest room rental revenue, meeting room revenue, food revenue, beverage revenue, telephone revenue, rental revenue, miscellaneous revenue and other revenue, income and receipts from the Hotel, the Conference Center and the Restaurant of every kind that are received, accrue or are accounted for on an accrual basis in conformity with the then-current Uniform System of Accounts for the lodging industry, or any successor thereof. Each credit or installment transaction shall be treated as revenue for the full price in the month during which such credit or installment transaction is made, regardless of whether or when Tenant receives actual payment therefor. Hotel Revenue shall not include, or if included there shall be deducted (but only to the extent the same have been included as Hotel Revenue):
(i) transaction privilege, sales, use, excise and gross receipts taxes and the Development Surcharge on any of the foregoing transactions which are paid to the taxing authorities by Tenant;
(ii) service charges, interest and collection expenses received or receivable for credit transactions, as well as other charges or fees paid by Tenant to credit card companies, banks and similar organizations resulting from the use of credit or debit cards by guests, patrons or customers;
(iii) bad debts and charge backs, to the extent previously included in Hotel Revenue;
(iv) gross receipts of Tenant’s subtenants or concessionaires, but all rents or fees payable to Tenant by its subtenants and concessionaires shall be included as Hotel Revenue; provided, however, that if any subtenant or concessionaire is affiliated with Tenant, the rent and fees payable by such affiliated subtenant or concessionaire shall be subject to the reasonable approval of the Landlord;
(v) gratuities to Hotel employees, including, without limitation, gratuities or service charges added to a customer’s xxxx or statement in lieu of gratuities or tips which the Hotel manager and/or Tenant is obligated to turn over an employee as compensation;
(vi) insurance proceeds (except any insurance proceeds received in reimbursement for lost revenues);
(vii) proceeds from any Mortgage financing or refinancing;
(viii) receipts from condemnation (except as provided in Article 11 hereof); and
(ix) all sums and credits received in settlement of claims or loss or damage of merchandise, or otherwise against t...
Hotel Revenue means all revenues, income, receipts, rents, issues, profits, proceeds, accounts, termination or surrender fees, penalties, deposits (including Advance Deposits (net of any associated third party fees and expenses)), charges for services rendered and all other amounts arising from the use or enjoyment of all or any portion of the Properties, including without limitation, all hotel receipts, revenues and credit card receipts collected from guest rooms, restaurants, bars, and other food and beverage facilities, meeting rooms, banquet rooms, halls laundry facilities, parking facilities, spas and recreational facilities, all receivables, customer obligations, installment payment obligations and other obligations now existing or hereafter arising or created out of the sale, lease, sublease, license, concession or other grant of the right of the use and occupancy of property or rendering of services by Borrower or any operator or manager of the hotel or the commercial space located in the Improvements or acquired from others (including, without limitation, from the rental of any office space, retail space, guest rooms or other space, halls, stores, and offices, and deposits securing reservations of such space), all license, lease, sublease and concession fees and rentals, including of commercial space, retail space, sign space and advertising space, all health club membership fees, greens fees, food and beverage wholesale and retail sales (including minibar revenues), vending machine sales, and service charges, and Insurance Proceeds, if any, from business interruption or other loss of income insurance, but only to the extent Lender elects to treat such Insurance Proceeds as business or rental interruption Insurance Proceeds pursuant to Section 5.4(f) hereof. “Hotel Revenue” does not include Hotel Taxes.
Examples of Hotel Revenue in a sentence
Restricted for Other Purposes – consists of the on-Airport Hotel’s assets and liabilities (including the Hotel Trust accounts) except the Hotel Debt Service Fund trust account, the Hotel Revenue Stabilization Fund trust account, the Hotel Capitalized Interest trust account, and the Hotel’s capital lease obligations.
Hotel Revenue Pro forma adjustments for hotel revenue are derived from the historical financial statements of each of our investments.
Hotel Revenue Pro forma adjustments for hotel revenue are derived from the historical financial statements of our investments.
The Hotel Manager is entitled to charge a marketing fee at no more than 1% of the Total Hotel Revenue for each Fiscal Year for the purposes of participating in national and international advertising and mandatory corporate marketing programs approved by the Owner in the operating budget.
If Seller should receive any payment on account of any Hotel Revenue relating to periods of time after the Closing, Seller shall promptly remit such payment to Purchaser.
More Definitions of Hotel Revenue
Hotel Revenue means all revenues, income, Rents, issues, profits, termination or surrender fees, penalties and other amounts arising from the use or enjoyment of all or any portion of the Property, including, without limitation, the rental or surrender of any office space, retail space, parking space, halls, stores, and offices of every kind, the rental or licensing of signs, sign space or advertising space, rentals, revenues, receipts, income, accounts, accounts receivable, cancellation fees, penalties, credit card receipts and other receivables relating to or arising from rentals, rent equivalent income, income and profits from guest rooms, meeting rooms, conference and banquet rooms, food and beverage facilities, health clubs, spas, vending machines, parking facilities, telecommunication and television systems, guest laundry, the provision or sale of other goods and services, and any other items of revenue, receipts or other income as identified in the Uniform System; plus business interruption insurance Proceeds. Impositions shall mean all taxes (including all ad valorem, sales (including those imposed on lease rentals), use, single business, gross receipts, value added, intangible transaction, privilege or license or similar taxes), governmental assessments (including all assessments for public improvements or benefits, whether or not commenced or completed prior to the date hereof and whether or not commenced or completed within the term of this Agreement), water, sewer or other rents and charges, excises, levies, fees (including license, permit, inspection, authorization and similar fees), and all other governmental charges, in each case whether general or special, ordinary or extraordinary, or foreseen or unforeseen, of every character in respect of the Property and/or any Rents and Hotel Revenue (including all interest and penalties thereon), which at any time prior to, during or in respect of the term hereof may be assessed or imposed on or in respect of or be a Lien upon (a) Borrower (including all income, franchise, single business or other taxes imposed on Borrower for the privilege of doing business in the jurisdiction in which the Property is located), (b) the Property, or any other Collateral or any part thereof, or any Rents or Hotel Revenue therefrom or any estate, right, title or interest therein, or (c) any occupancy, operation, use or possession of, or sales from, or activity conducted on, or in connection with the Property or the leasing or use of ...
Hotel Revenue means all revenues, income, receipts, rents, issues, profits, proceeds, accounts, termination or surrender fees, penalties, deposits (including Advance Deposits), charges for services rendered and all other amounts arising from the use or enjoyment of all or any portion of the Properties, including without limitation, all hotel receipts, revenues and credit card receipts collected from guest rooms, restaurants, bars, and other food and beverage facilities, meeting rooms, banquet rooms, halls laundry facilities, parking facilities, spas and recreational facilities, all receivables, customer obligations, installment payment obligations and other obligations now existing or hereafter arising or created out of the sale, lease, sublease, license, concession or other grant of the right of the use and occupancy of property or rendering of services by Borrower or any operator or manager of the hotel or the commercial space located in the Improvements or acquired from others (including, without limitation, from the rental of any office space, retail space, guest rooms or other space, halls, stores, and offices, and deposits securing reservations of such space), all license, lease, sublease and concession fees and rentals, including of commercial space, retail space, sign space and advertising space, all health club membership fees, greens fees, food and beverage wholesale and retail sales (including minibar revenues), vending machine sales, and service charges, and Insurance Proceeds, if any, from business interruption or other loss of income insurance, but only to the extent Lender elects to treat such Insurance Proceeds as business or rental interruption Insurance Proceeds pursuant to Section 5.4(f) hereof. “Hotel Revenue” does not include Hotel Taxes.
Hotel Revenue means revenues from the Hotel from the rental of rooms, guest suites, conference and banquet rooms, food and beverage facilities, health clubs, spas or other amenities, telephone services, laundry, vending, television and parking, and all other rent equivalents, moneys payable as damages or in lieu of rent or rent equivalents, royalties (including, without limitation, all oil and gas or other mineral royalties and bonuses), income, receivables, receipts, revenues, deposits (including, without limitation, security, utility and other deposits), accounts, cash, issues, profits, charges for services rendered, and other consideration of whatever form or nature received by or paid to or for the account of or benefit of Hotel Fee Borrower, Operating Lessee Borrower or any of their agents or employees from any and all sources whatsoever, including without limitation (i) all such sums arising from or attributable to the Hotel Property (including, without limitation all Hotel Pass-Through Income); (ii) any sums payable to Hotel Fee Borrower and/or Operating Lessee Borrower under the terms of any Interest Rate Protection Agreement; (iii) proceeds, if any, from business interruption or other loss of income insurance (but not other types of insurance) and (iv) any and all proceeds of the foregoing.
Hotel Revenue means all revenues, income, Rents, issues, profits, termination or surrender fees, penalties and other amounts arising from the use or enjoyment of all or any portion of the Property, including, without limitation, the rental or surrender of any office space, retail space, parking space, halls, stores, and offices of every kind, the rental or licensing of signs, sign space or advertising space and all membership fees and dues, rentals, revenues, receipts, income, accounts, accounts receivable, cancellation fees, penalties, credit card receipts and other receivables relating to or arising from rentals, rent equivalent income, income and profits from guest rooms, meeting rooms, conference and banquet rooms, food and beverage facilities, health clubs, spas, vending machines, parking facilities, telecommunication and television systems, guest laundry, the provision or sale of other goods and services, and any other items of revenue, receipts or other income as identified in the Uniform System; plus Net Membership Cash Flow and business interruption insurance Proceeds. IMPOSITIONS shall mean all taxes (including all ad valorem, sales (including those imposed on lease rentals), use, single business, gross receipts, value added, intangible transaction, privilege or license or similar taxes), governmental assessments (including all assessments for public improvements or benefits, whether or not commenced or completed prior to the date hereof and whether or not commenced or completed within the term of this Agreement), water, sewer or other rents and charges, excises, levies, fees (including license, permit, inspection, authorization and similar fees), and all other governmental charges, in each case whether general or special, ordinary or extraordinary, or foreseen or unforeseen, of every character in respect of the Property and/or any Rents and Hotel Revenue (including all interest and penalties thereon), which at any time prior to, during or in respect of the term hereof may be assessed or imposed on or in respect of or be a Lien upon (a) Borrower (including all income, franchise, single business or other taxes imposed on Borrower for the privilege of doing business in the jurisdiction in which the Property is located), (b) the Property, or any other collateral delivered or pledged to Lender in connection with the Loan, or any part thereof, or any Rents or Hotel Revenue therefrom or any estate, right, title or interest therein, or (c) any occupancy, operation, u...
Hotel Revenue means (a) revenue derived from all hotel rooms and suites rented for part of a day, a week, a month or any longer period; (b) food and beverage revenue derived from food and beverage sales in restaurants, bars, banquet halls or elsewhere in a hotel and from the catering operations of the Real Estate held by the Trust conducted outside such Real Estate; (c) other food and beverage income derived from meeting and banquet room rental, cover and corkage charges and miscellaneous banquet income such as rental of audio/visual equipment; from the use of telephone, internet and other telecommunication devices in the hotel; (d) revenue derived from parking services rendered by the Real Estateheld by the Trust and from storage of merchandise; (e) revenue derived from all laundry and dry cleaning services rendered; (f) revenue derived from health center, swimming pool, spa and gym services such as membership fees, massages, treatments, sales of merchandise and other fees; and (g) from other miscellaneous operated departments in the Real Estate held by the Trust and from the Service Charge of the Real Estate held by the Trust;
Hotel Revenue means all revenues, income, Rents, issues, profits, termination or surrender fees, penalties and other amounts arising from the use or enjoyment of all or any portion of the Property, including, without limitation, the rental or surrender of any office space, retail space, parking space, halls, stores, and offices of every kind, the rental or licensing of signs, sign space or advertising space, rentals, revenues, receipts, income, accounts, accounts receivable, cancellation fees, penalties, credit card receipts and other receivables relating to or arising from rentals, rent equivalent income, income and profits from guest rooms, meeting rooms, conference and banquet rooms, food and beverage facilities, health clubs, spas, vending machines, parking facilities, telecommunication and television systems, guest laundry, the provision or sale of other goods and services, and any other items of revenue, receipts or other income as identified in the Uniform System; plus business interruption insurance Proceeds.
Hotel Revenue means (a) revenue derived from all hotel rooms and suites rented for part of a day, a week, a month or any longer period; (b) food and beverage revenue derived from food and beverage sales in restaurants, bars, banquet halls or elsewhere in a hotel and from the catering operations of the Real Estate held by the Trust conducted outside such Real Estate; (c) other food and beverage income derived from meeting and banquet room rental, cover and corkage charges and miscellaneous banquet income such as rental of audio/visual equipment; from the use of telephone, internet and other telecommunication devices in the hotel; (d) revenue derived from parking services rendered by the Real Estate held by the Trust and from storage of merchandise; (e) revenue derived from all laundry and dry cleaning services rendered; (f) revenue derived from health center, swimming pool, spa and gym services such as membership fees, massages, treatments, sales of merchandise and other fees; and (g) from other miscellaneous operated departments in the Real Estate held by the Trust and from the Service Charge of the Real Estate held by the Trust;