Jason Arbuck, Shayne Kukulowicz, and William Onyeaju have authored a chapter for the Journal of Corporate Renewal titled “Contractual Agreements in the Canadian Hotel Industry: Managing the Competing Stakeholders in a Canadian Insolvency.”
Note the authors:
During the COVID-19 pandemic, the Canadian hotel industry suffered tremendous financial stress. This stress was lessened by financial support for the hotel sector by the federal and provincial governments. With such financial support coming to an end, and the emergence of supply challenges, higher interest rates, and rising costs due to inflation, the hotel industry remains under stress. While to date no material rise in Canadian hotel insolvencies has been observed, the industry remains on high alert.
Given this backdrop, US hotel stakeholders with interests north of the border should have a basic understanding of the Canadian insolvency regime and its treatment of hotel license and management agreements.
This article goes on to look at Canada’s insolvency regime, receiverships in the hotel and hospitality sector, and intellectual property and licensing issues.