$21 Million Eden Roc Hotel, Marriott Settlement Includes Future Franchising Deals
Mealey's (October 24, 2016, 10:40 AM EDT) -- NEW YORK — Marriott International Inc. and Eden Roc LLLP, the owner of the boutique Eden Roc Hotel in Miami Beach, Fla., on Oct.14 jointly announced in a press release the resolution of their ongoing litigation over management of the hotel, including future franchising opportunities (Eden Roc LLLP v. Marriott International Inc., et al., No. 651027/2012, N.Y. Sup., App. Div., 1st Dept.).
Under the terms of the agreement, Eden Roc will pay Marriott $10 million on signing and $11 million five years from now. Franchise Agreements...