What is the 'Property' referring to in The Standardx agreement?

According to The Standardx's 2025 Franchise Disclosure Document, 'Property' refers to the physical hotel location owned by the franchisee. Specifically, the Central Hotel Services by Hyatt Master Agreement included as Exhibit L defines 'Property' as the physical location of the hotel. This location is identified by the hotel's name and address. The 'Property' is operated under a franchise agreement with Hyatt or its affiliate.

This definition is important because the Central Hotel Services by Hyatt Master Agreement outlines the services that Hyatt will provide to the franchisee in connection with the 'Property.' These services are part of various programs offered by Hyatt, such as the Field Marketing Program, Central Sales Services Program, and Revenue Management Services Program. The agreement specifies that these services are provided to the Owner in connection with the Property.

For a prospective The Standardx franchisee, understanding this definition is crucial because it clarifies the scope of the services provided by Hyatt and their direct connection to the franchisee's hotel location. The agreement ensures that the services are tailored to the specific 'Property' and its operations under the franchise agreement. This ensures that the franchisee receives the necessary support and services to effectively manage and operate the hotel.