Luxury Hotel definition

Luxury Hotel means a hotel facility whose standards of operation and physical characteristics are substantially equal to or higher than the average standard of operation and physical characteristics of the five (5) hotels located in the City which reflect a quality standard of hotel operation at least equal to the higher of (i) the operation of the Hotel as managed and operated on the Effective Date, and (ii) the top tier of recognition as a so-called four (4) star hotel or equivalent rating (based on the criteria employed by the primary national hospitality industry rating services, including the Mobil Travel Guide, Conde Nast Traveler, and the American Automobile Association) (the “Luxury Hotel Competitive Set”). As of the Effective Date, the following hotels located in the City are considered to be included within the Luxury Hotel Competitive Set: the Park Hyatt Hotel; the Campton Place Hotel; the Huntington Hotel; the Fairmont Hotel; the Westin St. ▇▇▇▇▇▇▇ Hotel. It is recognized that not all services and facilities available in each Luxury Hotel will necessarily be provided by all Luxury Hotels, but that the composite of services, facilities, and amenities provided by each Luxury Hotel will cause such hotel to be deemed to constitute a Luxury Hotel. It is also recognized that during the Term of this Lease: (A) the list of the hotels comprising the Luxury Hotel Competitive Set may require modification as one or more existing hotels in the City is taken out of operation or suffers a decline or benefits from an improvement in its quality ratings and/or as new or remodeled hotels are added to the hotel market in the City and are operated in a manner that would qualify them for inclusion as part of the Luxury Hotel Competitive Set; and (B) the four-star quality rating for hotels in the City, as currently determined by the existing primary national hospitality rating services, includes a variety of hotels of different sizes, types, geographic locations and operations that fall within a quality range which varies from slightly less than five-star (or absolute top quality) status and slightly better than three-star (or somewhat lower quality) status. As used in this definition of Luxury Hotels, the term “top tier” hotels, when used to refer to hotels within the four-star or equivalent rating, shall refer to those hotels within the four-star or equivalent rating which occupy the top level of recognition within such four-star category (i.e., that are closest in ranking to f...
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Luxury Hotel means a single room occupancy multiple dwelling in which the rent on May 5, 1983, exclusive of governmentally assisted rental payments, charged for 75% or more of the total number of occupied individual dwelling units was more than 55 dollars per day for each unit rented on a daily basis, or more than 250 dollars per week for each unit rented on a weekly basis or more than 850 dollars per month for each unit rented on a monthly basis. For computation purposes, the rental value of units which were vacant on May 5, 1983 shall be deemed to be the rent charged for comparable occupied units in the property on such date.
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Luxury Hotel means a New AAA Four Diamond Hotel and/or a Renovated AAA Four Diamond Hotel, as applicable.
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Examples of Luxury Hotel in a sentence

  • The Client hereby indemnifies and holds the Hotel and Luxury Hotel Hotels International South Africa (Pty) Ltd and its shareholders, officers, directors, agents and employees harmless from and against any and all actions, costs, claims, losses, expenses and/or damages, including attorney's fees, including death and personal injuries and damage to property arising out of the gross negligence or willful misconduct of the Client or its employees or invitees.

  • In addition to the FF&E Reserve Account and the Escrow Account, Lessee shall establish and maintain, or shall cause the Operator to establish and maintain in the name of and for the benefit of the Hotel, adequate reserve accounts for the payment of all Impositions, insurance premiums, deferred maintenance, and capital repairs, replacements and improvements as shall be required to ensure the continued operation of the Hotel as a Luxury Hotel for the full Term of this Lease.

  • All Alterations shall be constructed in a first class manner, substantially in accordance with and without material deviation from, the approved Design Documents (where applicable), and subject to the requirements of all Entitlements applicable to the Premises and all other requirements of Applicable Laws and this Lease, using workmanship and materials of a quality consistent with the first class nature of the Premises and the operation of the Hotel as a Luxury Hotel, all at no cost or liability to Lessor.

  • To Sellers’ knowledge, as of the Effective Date, the Four Seasons Hotel satisfies the World Class Luxury Hotel standard (as defined in the Hotel Management Agreement and the Hotel License Agreement), and the Casino satisfies the design and maintenance standards of the Hotel Management Agreement.

  • Lessee shall leave the Premises, including all Improvements thereon, in first-class and serviceable condition and repair consistent with the operation of a Luxury Hotel, except for reasonable wear and tear, and except as otherwise expressly provided in Section 17.

  • In the event that any dispute arises between Lessee and Lessor as to whether the Hotel is being operated at any given time as a Luxury Hotel, such dispute shall, upon the request of either party, be resolved by arbitration pursuant to Section 18.

  • Lessee may use and store, or permit the use and storage of Hazardous Materials at the Premises to the extent that (i) such Hazardous Materials are commonly used and employed in the operation, maintenance, repair and servicing of a Luxury Hotel (“Permitted Materials”), and (ii) are used, stored, and disposed of in compliance with the requirements of all Applicable Laws.

  • In the event that the City believes that Owner is not complying with the Luxury Hotel and First Class Resort Standard, it shall notify Owner in writing, including the factual basis of its belief.

  • When and if during the Term, the period of temporary use shall terminate, Owner shall make all such restoration, repairs and alterations as shall be necessary to restore the Hotel to a World Class Luxury Hotel.

  • Lender and Laguna Beach Luxury Hotel LLC, a Delaware limited liability company (“LBLH”) previously entered into that certain Loan Agreement dated as of July 2, 2014 (the “Original Loan Agreement”).


More Definitions of Luxury Hotel

Luxury Hotel means a brand of First-Class Hotels categorized by the Rating Service as being “luxury.”
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Related to Luxury Hotel

  • Hotel means any establishment used for the purpose of temporary, overnight lodging for which a fee is paid and reservations are required.

  • Hotels means the hotel properties described in Exhibit A hereto, as it may be amended from time to time by mutual agreement of Lessee and Operator to add hotel properties or to delete hotel properties as a result of termination of this Agreement with respect to one or more hotel properties pursuant to the termination provisions set forth in this Agreement. “Hotel” shall mean any hotel set forth on Exhibit A as it may be amended from time to time.

  • Restaurant means a business location:

  • Restaurants means a business that prepares and serves food and drinks to customers.

  • Mixed-use project means a project comprising both a qualified