When it comes to booking hotel accommodations for corporate travelers, many companies prefer to negotiate with hotels for a discounted, pre-negotiated rate. This is known as a hotel corporate rate agreement, which can help save money for both the company and the hotel. In this article, we’ll be discussing about hotel corporate rate agreement sample.

A hotel corporate rate agreement is a contract between a hotel and a company, where the hotel agrees to provide a pre-negotiated discounted rate for the company’s employees or guests. The agreement typically includes details such as the length of the contract, the rate and any terms and conditions related to the agreement.

Here’s a sample hotel corporate rate agreement:

AGREEMENT

This Agreement (the “Agreement”) is made between XYZ Company (the “Company”) and ABC Hotel (the “Hotel”) for the purpose of setting forth the terms and conditions for the provision of accommodation services by the Hotel to the Company and its employees or guests.

TERM

This Agreement shall commence on (Date) and shall continue for a period of (Duration), unless earlier terminated in accordance with the provisions herein.

RATE

The Hotel agrees to provide the Company with a discounted rate of (Rate) per night for single/double occupancy, exclusive of applicable taxes. The rate is subject to change upon (Notice) days’ notice to the Company.

RESERVATION PROCEDURE

All reservations must be made through the Company’s designated travel coordinator. The Hotel will provide the Company with a unique corporate identification number to be used when making reservations. The Hotel will accept reservations subject to availability.

CANCELLATION AND NO-SHOW

All cancellations must be made (Number) hours prior to the scheduled arrival date. Failure to cancel or no-show will result in a penalty charge of (Amount) to the Company.

PAYMENT

The Hotel will invoice the Company monthly for all accommodation services provided, which shall be paid within (Number) days from the date of invoice.

TERMINATION

Either party may terminate this Agreement upon (Notice) days’ written notice to the other party.

CONFIDENTIALITY

The terms and conditions of this Agreement, as well as any information exchanged by the parties in connection with this Agreement, shall be kept confidential and shall not be disclosed without the prior written consent of the other party.

GENERAL

This Agreement contains the entire understanding of the parties and supersedes all prior and contemporaneous agreements and understandings, whether oral or written. This Agreement may not be amended or modified except in writing signed by both parties.

CONCLUSION

A hotel corporate rate agreement can be a mutually beneficial arrangement for both a company and a hotel, providing cost savings and convenience for employees or guests travelling for business purposes. Negotiating and signing a hotel corporate rate agreement can be a complex process, and it’s important to seek the advice of legal counsel before entering into any binding agreement. By using the above sample as a starting point, companies and hotels can tailor their own agreements to fit their specific needs and requirements.