Agreement for a Hotel Plot (India) by OLL
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Agreement For a Hotel Plot
This Agreement Development for Hotel Plot is made at ———————– on this ______ day of ________ (hereinafter referred to as the ‘Agreement’).
BETWEEN
(Hereinafter referred to as ‘Owner’ which expression shall, unless repugnant to the context or meaning thereof include and be deemed to include its successors and assigns) of the First Part;
AND
(Hereinafter referred to as ‘the Developer’ which expression shall, unless repugnant to the context or meaning thereof include and be deemed to include its successors and assigns) of the Second Part;
AND
(Hereinafter referred to as ‘lessee ‘ (which expression shall unless repugnant to the context or meaning thereof include its successors and assigns) of the Third Part;
‘lessee ‘, Developer and ‘Owner’ are hereinafter individually referred to as the ‘Party’ and collectively as the ‘Parties’.
WHEREAS
A) The Owner is in lawful possession of the property by virtue of the allotment/sale deed vide which the said land was purchased by him. The Developer has entered into a development agreement pursuant to which the property is being developed for commercial purposes.
B) Whereas has approached the parties for taking the said land, structure on lease for establishing and running of its own brand on the following terms and conditions:
NOW THEREFORE THIS AGREEMENT TO LEASE WITNESSETH and it is hereby agreed by and between the Parties as under:
1. DEFINITIONS AND INTERPRETATION:
1.1 Definitions
In this Agreement, unless repugnant to or inconsistent with the context or meaning thereof, the following terms, when capitalized, shall have the meanings assigned herein when used in this Agreement. When not capitalized, such words shall be attributed to their ordinary meaning:
“Brand name” shall mean the brand name as given by him to his forthcoming project on the leased premises.
Commencement date shall mean the date of commencement of commercial operations of the after the Owner and the Developer obtains all requisite permissions/approval/ licenses including completion cum occupation certificate for the building and at least 50% of the total commercial area of the Land as allocated by the authority is constructed and become operational.
Competitor means a person or entity which is in the business. “Conditions Precedent” shall have the meaning ascribed to it under Clause 6. “Essential Portion” shall have the meaning ascribed to it under Clause 17.3 (e).
“Extension Period” shall have the meaning ascribed to it under Clause 6.5.
“Extended Term” shall have the meaning ascribed to it under Clause 7.3.
“Franchise Agreement” shall have the meaning ascribed to it under Recital B of the Agreement.
“Force Majeure” shall have the meaning ascribed to it under Clause 16.
“Hotel” Shall mean and include the substructure and superstructure of a fully furnished with the earmarked area constructed, developed, furnished, decorated by the Developer, from within and exterior as per design and specifications prescribed by.
“Lock-in Period” shall have the meaning ascribed to it under Clause 7.2.
“Intellectual Property Rights” shall have the meaning ascribed to it under Clause 23.1.
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This template outlines an agreement for the development and long-term lease of a hotel property. It establishes the roles of an Owner, a Developer, and a Lessee, covering construction specifications, brand licensing, and operational management for a period of up to 30 years.
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About this template
What is this template?
This is a tripartite development and lease agreement involving an owner, a developer, and a hospitality lessee. It contains specific 30-year lock-in provisions and detailed construction specifications unique to hotel branding. It is not a simple commercial lease or a standard construction contract as it merges property development with operational brand licensing.
When should you use it?
Use this when a hotel operator requires a bespoke facility built on third-party land in India under a long-term operational lease. Use a standard Commercial Lease Agreement instead if the building is already completed and does not require brand-specific construction.
What's inside
| Clause | Name | What it does |
|---|---|---|
| 3.1 | CONSTRUCTION | The Owner and Developer must complete construction and furnishing within 18 months of signing according to the Lessee's brand instructions. |
| 7.1 | TERM | The lease runs for a term of 30 years from the date commercial operations commence at the hotel. |
| 7.2 | LOCK-IN PERIOD | The parties are bound to the agreement for the entire 30-year duration, which is designated as a lock-in period. |
| 9.1 | SECURITY DEPOSIT | The Lessee pays a refundable interest-free security deposit equivalent to three months of lease rentals upon production of construction approvals. |
| 8.1 | RIGHT OF FIRST REFUSAL | The Lessee has 90 days to exercise a right to purchase the property if the Owner decides to sell. |
| 16.6 | FORCE MAJEURE | If force majeure conditions continue for more than 180 days, the parties must rework the agreement to reach an equitable solution. |
| 28.1 | ARBITRATION | Disputes are settled under the Indian Arbitration and Conciliation Act 1996 by a panel of three arbitrators. |
Who it's for
- a hospitality brand leasing a custom-built hotel plot from an Indian landowner and developer
- property owners in India entering a tripartite agreement for commercial hotel development
- developers managing the construction of branded hotel structures under long-term lease commitments
How long it runs and how it's signed
Law it's drafted under
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