Minsk Marriott Hotel – Minsk, Belarus
Office: Horwath HTL Switzerland
Category: Asset Management
Project Overview: The Minsk Marriott Hotel is part of a spectacular multi-use development including a sports and entertainment complex, which comprises a state-of-the-art sports arena for 3,000 people complete with cafes and bars, a modern gym, a wellness centre with spa services, a tennis and squash academy and a cinema. The hotel houses 217 deluxe guest rooms, including 25 suites, 940 m2 of transformable meeting and events space, which includes eight flexible conference rooms and a multifunctional space for collaboration, workshops and private meetings.
Horwath HTL was engaged by Falcon Investment Company to support them in their negotiations with Marriott International as their hotel operator of choice. Our scope of service included, but was not limited to the analysis of the contents of the proposed Management, Licensing and Royalty and the International Services Agreements, compilation of a report on the findings incl. recommendations, liaison with the legal advisors with regard to local regulations and negotiations with Marriott International Inc.
Horwath HTL Solution: Horwath HTL Switzerland provided a detailed review of the proposed contract drafts and recommendations for amendments. When Marriott International’s legal counsel recommended against signing a Management Contract because of the local Belarus laws, Horwath HTL successfully undertook the search and selection for a white label operator in connection with a Marriott Franchise Agreement and assisted with the contract negotiations.
Implementation: The hotel opened May 2016