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Wynn Tower Suites (2013) New York NEW YORK Baccarat Hotel New York (2018) Four Seasons Hotel New York Downtown (2017) Mandarin Oriental New York (2005) Park Hyatt New York (2015) The Dominick Hotel (2018) The Langham New York Fifth Avenue (2017) The Peninsula New York (1999) The Pierre New York-A Taj Hotel (2009)

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  • ISTAT Asia 9-11 May 2023 Grand Hyatt Hong Kong Hong Kong, China ISTAT EMEA 1-3 October 2023 Hilton London Metropole London, United Kingdom 2024 ISTAT Americas 3-5 March 2024 JW Marriott Austin Austin, TX, USA

What are the top international hotels?

  • Top International Hotels TP Universal Orlando UE Utell U_I Swallow Hotels_ UK Sierra Suites_ US UnirezUZ- VIP Erez VE 'VIP International Corporation VP SavoyHotels VY __ Woodfield Suites WF _Wingate_Hotelsls_ __ W_G WHotels 1WH
LA 9

202571v11

JEFFER MANGELS BUTLER & MITCHELL LLP

The Jim

Butler

JEFFER MANGELS BUTLER & MITCHELL LLP

1900 Avenue of the Stars ʌ Los Angeles, CA 90067 ʌ (310) 201-3526 ʌ jbutler@jmbm.com Buyingahotelisusuallyacomplexprocesswithalotofmovingparts.Justkeepingtrackofall

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jbutler@jmbm.com Page1

LA 9202571v11

JMBM's Hotel Acquisition Checklist

Page2

Jim Butler

J

EFFER MANGELS BUTLER & MITCHELL LLP

1900 Avenue of the Stars ʌ Los Angeles, CA 90067 ʌ (310) 201-3526 ʌ jbutler@jmbm.com

Purchase and sale of ____________ Hotel

File No. _____-________

Updated as of _________________

___ , 201__

Parties Address/Telephone/Fax/Email

Buyer____________________________

____________________________

TelephoneNo.(___)___Ͳ_____

Attention:____________________

TelephoneNo.(___)___Ͳ_____

FacsimileNo.(___)___Ͳ_____

EmailAddress

1900AvenueoftheStars,7thFloor

LosAngeles,CA90067Ͳ5010

Attention:___________________

TelephoneNo.(310)203Ͳ8080

FacsimileNo.(310)203Ͳ0567

EmailAddress

____________________________

TelephoneNo.(___)___Ͳ_____

Attention:____________________

TelephoneNo.(___)___Ͳ_____

FacsimileNo.(___)___Ͳ_____

EmailAddress

____________________________

TelephoneNo.(___)___Ͳ_____

Attention:____________________

TelephoneNo.(___)___Ͳ_____

FacsimileNo.(___)___Ͳ_____

EmailAddress

LA 9202571v11

JMBM's Hotel Acquisition Checklist

Page3

Jim Butler

J

EFFER MANGELS BUTLER & MITCHELL LLP

1900 Avenue of the Stars ʌ Los Angeles, CA 90067 ʌ (310) 201-3526 ʌ jbutler@jmbm.com

Parties Address/Telephone/Fax/Email

____________________________

TelephoneNo.(___)___Ͳ_____

Attention:____________________

TelephoneNo.(___)___Ͳ_____

FacsimileNo.(___)___Ͳ_____

EmailAddress

____________________________

TelephoneNo.(___)___Ͳ_____

Attention:____________________

TelephoneNo.(___)___Ͳ_____

FacsimileNo.(___)___Ͳ_____

EmailAddress

____________________________

TelephoneNo.(___)___Ͳ_____

Attention:____________________

TelephoneNo.(___)___Ͳ_____

FacsimileNo.(___)___Ͳ_____

EmailAddress

____________________________

TelephoneNo.(___)___Ͳ_____

Attention:____________________

TelephoneNo.(___)___Ͳ_____

FacsimileNo.(___)___Ͳ_____

EmailAddress

Seller____________________________

____________________________

TelephoneNo.(___)___Ͳ_____

Attention:____________________

TelephoneNo.(___)___Ͳ_____

FacsimileNo.(___)___Ͳ_____

EmailAddress

LA 9202571v11

JMBM's Hotel Acquisition Checklist

Page4

Jim Butler

J

EFFER MANGELS BUTLER & MITCHELL LLP

1900 Avenue of the Stars ʌ Los Angeles, CA 90067 ʌ (310) 201-3526 ʌ jbutler@jmbm.com

Parties Address/Telephone/Fax/Email

____________________________

TelephoneNo.(___)___Ͳ_____

Attention:____________________

TelephoneNo.(___)___Ͳ_____

FacsimileNo.(___)___Ͳ_____

EmailAddress

____________________________

TelephoneNo.(___)___Ͳ_____

Attention:____________________

TelephoneNo.(___)___Ͳ_____

FacsimileNo.(___)___Ͳ_____

EmailAddress

____________________________

TelephoneNo.(___)___Ͳ_____

Attention:____________________

TelephoneNo.(___)___Ͳ_____

FacsimileNo.(___)___Ͳ_____

EmailAddress

GroundLessor____________________________

____________________________

TelephoneNo.(___)___Ͳ_____

Attention:____________________

TelephoneNo.(___)___Ͳ_____

FacsimileNo.(___)___Ͳ_____

EmailAddress

____________________________

TelephoneNo.(___)___Ͳ_____

Attention:____________________

TelephoneNo.(___)___Ͳ_____

FacsimileNo.(___)___Ͳ_____

EmailAddress

LA 9202571v11

JMBM's Hotel Acquisition Checklist

Page5

Jim Butler

J

EFFER MANGELS BUTLER & MITCHELL LLP

1900 Avenue of the Stars ʌ Los Angeles, CA 90067 ʌ (310) 201-3526 ʌ jbutler@jmbm.com

Parties Address/Telephone/Fax/Email

____________________________

TelephoneNo.(___)___Ͳ_____

Attention:____________________

TelephoneNo.(___)___Ͳ_____

FacsimileNo.(___)___Ͳ_____

EmailAddress

Appraiser____________________________

____________________________

TelephoneNo.(___)___Ͳ_____

Attention:____________________

TelephoneNo.(___)___Ͳ_____

FacsimileNo.(___)___Ͳ_____

EmailAddress

____________________________

TelephoneNo.(___)___Ͳ_____

Attention:____________________

TelephoneNo.(___)___Ͳ_____

FacsimileNo.(___)___Ͳ_____

EmailAddress

____________________________

TelephoneNo.(___)___Ͳ_____

Attention:____________________

TelephoneNo.(___)___Ͳ_____

FacsimileNo.(___)___Ͳ_____

EmailAddress

____________________________

TelephoneNo.(___)___Ͳ_____

Attention:____________________

TelephoneNo.(___)___Ͳ_____

FacsimileNo.(___)___Ͳ_____

EmailAddress

LA 9202571v11

JMBM's Hotel Acquisition Checklist

Page6

Jim Butler

J

EFFER MANGELS BUTLER & MITCHELL LLP

1900 Avenue of the Stars ʌ Los Angeles, CA 90067 ʌ (310) 201-3526 ʌ jbutler@jmbm.com

Parties Address/Telephone/Fax/Email

____________________________

TelephoneNo.(___)___Ͳ_____

Attention:____________________

TelephoneNo.(___)___Ͳ_____

FacsimileNo.(___)___Ͳ_____

EmailAddress

____________________________

TelephoneNo.(___)___Ͳ_____

Attention:____________________

TelephoneNo.(___)___Ͳ_____

FacsimileNo.(___)___Ͳ_____

EmailAddress

____________________________

TelephoneNo.(___)___Ͳ_____

Attention:____________________

TelephoneNo.(___)___Ͳ_____

FacsimileNo.(___)___Ͳ_____

EmailAddress

____________________________

TelephoneNo.(___)___Ͳ_____

Attention:____________________

TelephoneNo.(___)___Ͳ_____

FacsimileNo.(___)___Ͳ_____

EmailAddress

____________________________

TelephoneNo.(___)___Ͳ_____

Attention:____________________

TelephoneNo.(___)___Ͳ_____

FacsimileNo.(___)___Ͳ_____

EmailAddress

LA 9202571v11

JMBM's Hotel Acquisition Checklist

Page7

Jim Butler

J

EFFER MANGELS BUTLER & MITCHELL LLP

1900 Avenue of the Stars ʌ Los Angeles, CA 90067 ʌ (310) 201-3526 ʌ jbutler@jmbm.com

Parties Address/Telephone/Fax/Email

____________________________

TelephoneNo.(___)___Ͳ_____

Attention:____________________

TelephoneNo.(___)___Ͳ_____

FacsimileNo.(___)___Ͳ_____

EmailAddress

____________________________

TelephoneNo.(___)___Ͳ_____

Attention:____________________

TelephoneNo.(___)___Ͳ_____

FacsimileNo.(___)___Ͳ_____

EmailAddress

Franchisor____________________________

____________________________

TelephoneNo.(___)___Ͳ_____

Attention:____________________

TelephoneNo.(___)___Ͳ_____

FacsimileNo.(___)___Ͳ_____

EmailAddress

____________________________

TelephoneNo.(___)___Ͳ_____

Attention:____________________

TelephoneNo.(___)___Ͳ_____

FacsimileNo.(___)___Ͳ_____

EmailAddress

LA 9202571v11

JMBM's Hotel Acquisition Checklist

Page8

Jim Butler

J

EFFER MANGELS BUTLER & MITCHELL LLP

1900 Avenue of the Stars ʌ Los Angeles, CA 90067 ʌ (310) 201-3526 ʌ jbutler@jmbm.com

Table Of Abbreviations

BBuyer

BCBuyer'sCounsel

CIRCirculated

DRDraft

ECEscrowCompany

FFile

FINFinal

INCIncomplete

LCLocalCounsel

LENLender

MManager

N/ANotApplicable

RRecord

RCVReceived

SSeller

SCSeller'sCounsel

TCTitleCompany

Schedule Of Documents

DocumentResponsible

party

Status

1. CertifiedCopyofPartnershipAgreementS

2. ConsentofPartnersSC

3. CertificateofLimitedPartnershipS

4. CertificateofGoodStandingͲStateofOrganizationSC

5. CertificateofGoodStandingͲStateinwhichHotelislocatedSC

6. FictitiousBusinessNameStatementS

LA 9202571v11

JMBM's Hotel Acquisition Checklist

Page9

Jim Butler

J

EFFER MANGELS BUTLER & MITCHELL LLP

1900 Avenue of the Stars ʌ Los Angeles, CA 90067 ʌ (310) 201-3526 ʌ jbutler@jmbm.com

DocumentResponsible

party

Status

7. CertifiedArticlesofIncorporationofGeneralPartnerofSellerS

8. CertifiedBylawsofGeneralPartnerofSellerS

9. CertificateofGoodStandingofGeneralPartnerofSellerSC

10. CorporateResolutionofGeneralPartnerofSellerSC

11. IncumbencyCertificateofGeneralPartnerofSellerSC

12. SSͲ4/TAXIDNUMBERS

limitedliabilitycompany)

1. CertifiedCopyofOperatingAgreementS

2. CertifiedCopyofArticlesofOrganization/Certificateof

FormationS

3. CertificateofGoodStandingͲStateofOrganizationSC

4. CertificateofGoodStandingͲStateinwhichHotelislocatedSC

5. AuthorizationofMembersSC

6. AuthorizationofManagerSC

7. IncumbencyCertificateSC

8. SSͲ4/TAXIDNUMBERS

III.ConveyanceAndClosingDocuments

1. PurchaseandSaleAgreementBC/SC

2. AssignmentofPurchaseandSaleAgreementtoBuyer's

NomineeBC

3. GroundLessor'sEstoppelCertificateandConsentBC

4. AssignmentofGroundLeaseBC

LA 9202571v11

JMBM's Hotel Acquisition Checklist

Page10

Jim Butler

J

EFFER MANGELS BUTLER & MITCHELL LLP

1900 Avenue of the Stars ʌ Los Angeles, CA 90067 ʌ (310) 201-3526 ʌ jbutler@jmbm.com

DocumentResponsible

party

Status

5. DeedinformusedinStatewhereHotelislocatedBC

6. SeparateDocumentaryTransferTaxDeclaration/Affidavitof

ValueTC

7. PreliminaryChangeofOwnershipReport(forCalifornia)orits

equivalentTC

8. OtherAffidavits/RequirementsforRecordationofDeedͲtobe

providedbyBuyer'slocalcounselTC

9. TenantEstoppelCertificatesBC

10. AssignmentandAssumptionofIntangiblePropertyBC

11. AssignmentofClaims(includinginsuranceproceedswhere

applicable)BC

12. AssignmentandAssumptionofLeases/Subleases(including

consentsofgroundlessor)BC

13. ServiceContractsandEquipmentLeases,AdvancedBooking

Agreements,EmploymentContractsBC

14. AssignmentandAssumptionofUnionContractsBC

15. BillofSaleBC

16. Seller'sClosingCertificate/AffirmationofWarranties,if

requiredbyPurchaseandSaleAgreementSC

17. Buyer'sClosingCertificate/AffirmationofWarranties,if

requiredbyPurchaseandSaleAgreementBC

18. PostͲClosingHoldbackEscrowAgreementBC

19. OccupancyTaxClearanceCertificateorConditionalCertificateLC/SC/M

20. SalesTaxClearanceCertificateLC/SC/M

21. EmployeeWithholdingTaxClearanceCertificateorConditional

WithholdingCertificateLC/SC/M

LA 9202571v11

JMBM's Hotel Acquisition Checklist

Page11

Jim Butler

J

EFFER MANGELS BUTLER & MITCHELL LLP

1900 Avenue of the Stars ʌ Los Angeles, CA 90067 ʌ (310) 201-3526 ʌ jbutler@jmbm.com

DocumentResponsible

party

Status

22. ResaleCertificate/Seller'sPermitforinventoryBC/LC

23. ExistingManagementAgreementBC

GeneralReleaseBC

24. NewManagementAgreementBC

25. ExistingFranchiseAgreementBC

GeneralReleaseBC

B.TerminationofFranchiseAgreementBC

26. NewFranchiseAgreement/PIPRequirementsSC

27. FranchiseDefaultNoticesBC

28. GolfBC

AgreementBC

AgreementsBC

AgreementsBC

29. OffͲSiteFacilitiesandAmenitiesAgreementsBC

andAmenitiesAgreementsBC

AgreementsBC

30. Covenants,ConditionsandRestrictionsBC/LC

LA 9202571v11

JMBM's Hotel Acquisition Checklist

Page12

Jim Butler

J

EFFER MANGELS BUTLER & MITCHELL LLP

1900 Avenue of the Stars ʌ Los Angeles, CA 90067 ʌ (310) 201-3526 ʌ jbutler@jmbm.com

DocumentResponsible

party

Status

B.AssignmentofDeclarant'sRightsBC/LC

31. AccountTransferLetterBC

32. MotorVehicleCertificatesofOwnership/BillsofSaleM

33. AssignmentofTradeNames/TrademarksandOtherIntellectual

PropertyBC/LC

34. PaymentofConveyanceTax(RealandPersonal)B

35. NoticestoTenantsofAssignmentB

36. NoticestoVendorsofAssignmentB

37. AttorneyClosingInstruction/RecordingLetterBC/SC

38. ProrationsScheduleB/S

39. Buyer'sSettlementStatementTC

40. Buyer'sExchangeDocumentswithQualifiedIntermediaryTC/BC

41. TitleRequirementsfromSeller(seealsoseparateTitlesection

below)TC/SC

C.Owner'sAffidavittoTitleCompanyTC/SC

1445)andEquivalentStateCertificateTC/SC

42. DocumentsPermittingContinuationofLiquorOperations

43. UpdatedRentRollS/M

LA 9202571v11

JMBM's Hotel Acquisition Checklist

Page13

Jim Butler

J

EFFER MANGELS BUTLER & MITCHELL LLP

1900 Avenue of the Stars ʌ Los Angeles, CA 90067 ʌ (310) 201-3526 ʌ jbutler@jmbm.com

DocumentResponsible

party

Status

44. UpdatedPersonalPropertyInventoryS/M

45. UpdatedListofReservationAgreementsandBookingsS/M

46. ScheduleofStoredLuggageS/M

47. Tradename/Trademarkfilings/TransfersS/SC

48. Buyer/ManagerPropertyandLiabilityInsuranceBC/M

49. [AnyotherclosingdocumentsrequiredbythePurchaseand

SaleAgreement]BC/SC/M

50. NoticetoUtilityCompaniesrechangeinownershipM

51. PaymentofDepositstoUtilityCompaniesrecontinuingserviceS

52. UtilityMeterReadingsLEN

53. HouseFundsM

54. TrayLedger(currentguestaccruedcharges)M

55. DeliveryofKeysM

IV.LoanDocuments

1. LoanAgreementLEN

2. PromissoryNoteLEN

3. MortgageorDeedofTrustLEN

4. CashManagementAgreementLEN

5. AssignmentofLeasesandRentsLEN

6. OtherAssignmentDocumentsLEN

7. EnvironmentalIndemnityAgreementLEN

8. Guaranty(ies)LEN

LA 9202571v11

JMBM's Hotel Acquisition Checklist

Page14

Jim Butler

J

EFFER MANGELS BUTLER & MITCHELL LLP

1900 Avenue of the Stars ʌ Los Angeles, CA 90067 ʌ (310) 201-3526 ʌ jbutler@jmbm.com

DocumentResponsible

party

Status

9. EstoppelCertificatesfromMajorTenantsLEN

10. FranchiseComfortLetterLEN

11. AssignmentandSubordinationofManagementAgreementLEN

12. InterestRateSwapAgreementLEN

13. UCCͲ1/UCCͲ1FixtureFilingLEN

14. [OtherLoanDocuments]LEN

15. Borrower'sCounsel'sLegalOpinionBC/LC

16. EscrowinstructionsfromLendertoTitleLEN

V.DueDiligenceItems-PropertyLEN

1. AppraisalB

2. PhysicalInspectionReports/SurveysB

A.StructuralB

B.SeismicB

C.MEPB

D.MoldB

E.ADAB

F.SoilsB

G.FireSystemsandHealthInspectionB

H.ElevatorSafetyInspectionsB

I.LEEDCertification/SurveyB

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