Hotel World Network:
Steven Belmonte returned to his entrepreneurial roots in 2002 when he resigned from Cendant Corp. as President and CEO of Ramada and EVP of the Hotel Division. He had a desire to create a company from ground zero as he did in the early 1980s when he co-founded The Equity Hotel Corp., which quickly grew to be one of the Top 10 management and owning companies of its time under his direction.
After years in the industry, he felt he had a good handle on a service niche that literally did not exist. As an experienced hotel owner, manager and franchisor, he could lend his knowledge to hotel owners across America who are facing termination fees (liquidated damages) or seeking help selecting and negotiating a fair franchise agreement.
“Sure there were plenty of law firms out there, but more often that’s really not what owners’ need – unless of course they want nothing but a lawsuit,†Belmonte said. “My experience has been that many lawyers really don’t understand hotel franchising, and even fewer understand the climate and culture that exists at each of the numerous franchise companies.â€
He explained that an attorney could be very expensive, charging by the hour, and oftentimes, taking months to complete a
task. If an attorney does not understand or know the ins and outs of the franchise industry, Belmonte said he or she would need to learn – oftentimes at the hotelier’s expense. Read full article.
