In re-listening to SP on his most recent interview, it struck me that Tivus wants a partnership with Host. "No one else does this." is what I believe I heard SP state. So, this is not merely a simple deal where we contract with an outside firm to provide a service. It is much more detailed and legally complicated. It takes time to solidify.
"Partnership agreements are written documents that explicitly detail the relationship between the business partners, as well as their individual obligations and contributions to the partnership. Since partnership agreements should cover all possible business situations that could arise during the life of the partnership, the documents are often complex, and legal counsel in drafting and reviewing the finished contract is generally recommended. If a partnership does not have a partnership agreement in place when it dissolves, the guidelines of the Uniform Partnership Act and various state laws will determine how the assets and debts of the partnership are distributed."
If, indeed, this is just not a statement that SP has confused in translation, this is much more complex and moves us beyond a "contract" to a complex business relationship that I would view as very beneficial, but also potentially limiting. On the good side Host would be providing more business guidance for Tivus, but on the negative side, this relationship could also limit Tivus to restricted business with their partner, Host. That shrinks the market considerably. However, I doubt that is Host's intent. Growing this market would be in their interest.
I would love to hear from a few more folks relative to this relationship. We may have been stumbling over one of the most important elements of this Philly Marriott deal. GLTA. R3
AI
