What is the definition of 'Property' in the context of The Standardx Hosting Services Agreement?
The_Standardx Franchise · 2025 FDDAnswer from 2025 FDD Document
| This Hosting Services Agreement ("Agreement") is made this day of , 2025 | |
|---|---|
| (the "Effective Date"), by and between | |
| (Name of Franchisee) | |
| , a(n) ("Owner") and | |
| Hyatt Franchising, L.L.C., a Delaware limited liability company ("Hyatt"). | |
| Hyatt and Owner may be referred to | |
| herein individually as a "Party" or together as the "Parties." | |
| WHEREAS, Owner owns or will own the [BRAND] Hotel, which is or will be located at, | |
| , (the "Property"), and the Property is operated pursuant to a franchise agreement | |
Source: Item 18 — OTHER INCOME (LOSS), NET (FDD pages 187–399)
What This Means (2025 FDD)
According to The Standardx's 2025 Franchise Disclosure Document, the term "Property" refers to the physical location of The Standardx Hotel. The Hosting Services Agreement states that the Owner owns or will own The Standardx Hotel, which is or will be located at a specific address. This location is designated as the "Property" and is operated under a franchise agreement between the Owner and Hyatt.
In simpler terms, "Property" in this context means the specific hotel location that is the subject of the franchise agreement. This definition is important because the Hosting Services Agreement pertains to the services Hyatt provides in support of the Property Management System at that specific hotel location. The agreement ensures that the hosting and related services are tied to the physical hotel operating under The Standardx franchise.
For a prospective franchisee, understanding this definition is crucial as it clarifies that the services provided under the Hosting Services Agreement are directly linked to the franchisee's specific hotel location. This ensures that the franchisee understands that the agreement is specific to their hotel and its operations under The Standardx brand.