Showing posts with label manager. Show all posts
Showing posts with label manager. Show all posts

Friday, July 20, 2012

Q1 Trademark

A recent interesting Federal Court decision in favour of Mantra, that decides that the onsite manager can own a trademark for its letting business, even if the trademark is similar to the building name.
See Mantra IP Pty Ltd v Spagnuolo [2012] FCA 769 (19 July 2012):
"Like the Chifley Tower, “Q1” was a sign devised by Sunland, a private entity, to, among other things, signify or name its private building development. When it chose the sign “Q1”, it did not adopt or incorporate a geographical name such as that of an established town, suburb or district, like Surfers Paradise, or the Gold Coast.  ... From this history, I do not consider there is any basis upon which any trader could claim to have any “common right of the public” to make honest use of the sign “Q1” as a trade mark. Put differently, there is nothing about the sign “Q1” that could be said to bring it within the “common heritage”..."

Friday, February 17, 2012

Government Review of Management Rights

The Queensland Government has issued a discussion paper on Management Rights in Community Titles Schemes, and is asking for community response to a number of questions.  If you own an apartment in a Queensland apartment building, it is well worth reading and responding.
The paper is available here.

Wednesday, December 21, 2011

The Oracle - Developer Wins Lawsuits

The developer of The Oracle at Broadbeach was sued by a number of people who purchased apartments off-the-plan and then, after the market dropped, did not want to settle.  The developer won the lawsuits, and the buyers have to pay significant damages to Niecon.

Interestingly, the judge's decision (which is long and complex) discussed issues about when a residential apartment building is and can be operated as a hotel or short stay letting operation.

"The contract provided that any authorisation of a person as a letting agent would be in the terms of the Caretaking and Letting Agreement annexed to the Disclosure Statement. That agreement provided for the entity appointed by the body corporate to operate a letting business, and to use certain common property for specified purposes. The letting business was not limited to long-term tenancies. Nothing in the Caretaking and Letting Agreement provided that the letting agent could not conduct its letting business so as to attract short-term tenants and holiday-makers. The letting business involved associated services commonly rendered in connection with letting lots in similar developments and “any other lawful activity.” This authorised the provision of services to guests occupying apartments, including guests staying for a short time who might require room service, a mini-bar and other “hotel-like services”."

"The fact that [the onsite manager] provides guests with certain “hotel-style services” does not mean that the tower has ceased to be a “residential tower” in the sense earlier described. The fact that some of the occupants are there for a short term does not mean that the tower is not a residential tower. The contractual promise of a lot in a residential tower relates to a tower used for residential purposes. The relevant provision distinguished the residential component from the retail component of the development. In its contractual context, a residential tower does not mean simply a tower for owners who are residents or long-term tenants."

Tuesday, December 20, 2011

Mirvac Sells Hotel Division to Accor

Mirvac announced today that it is selling its hotel division to Accor.  In Brisbane, Mirvac owns the management rights for Quay West in Alice Street and Sebel Suites in Charlotte Street.  Mirvac also owns the management rights for Sebel Maroochydore and Sebel Noosa, Cairns Harbour Lights, the Sea Temples in Far North Queensland.  Mirvac is managing the Soul complex on the Gold Coast under the Sea Temple brand.

This sale received international attention, probably because Accor is a French company.

Many investors have purchased strata titled apartments in Mirvac managed buildings.  For the most part, the income is pooled, and investors receive income based on lot entitlements.  It will be interesting to see if Accor will be able to manage such complex arrangements, where each hotel has, in effect, many different owners.

A message to Mirvac staff from management said the following:


"The strategic review has today culminated in the Board of Mirvac Group approving an important transaction involving the sale of Mirvac Hotels & Resorts to Accor Asia Pacific (“Accor”) and the sale of Mirvac’s 49% interest in the Mirvac Wholesale Hotel Fund  (owner of six of our largest hotels) to Accor and Singapore based investor Ascendas.

This transaction is a transforming event for our company. It will create new opportunities for staff, our owners and our customers. There are also some critical elements to the transaction that I will explain below that should encourage staff to embrace the opportunity to be part of one the world’s largest hotel companies. I can imagine you have many questions and I will attempt to touch on what I think are some of the major items.

What does this mean for Mirvac Hotels associates?
Under the terms of the sale contract Accor is obliged to offer employment to all staff on their prevailing terms and conditions.

How will our business transition to Accor?
The transition of our business into Accor will be a gradual and considered process to ensure minimal disruption. This means key elements of our business such as CRS, web site, sales & marketing programs, national training, STARS Program will initially continue as per usual.

What is the timing for the completion of the transaction?
Completion is subject to a number of consents and regulatory approvals which means the sale will not be completed until the second quarter of 2012. Until completion, it will be business as usual. Post completion it is anticipated there will be interchange of staff between Accor and Mirvac Hotels & Resorts that hopefully will give everyone the opportunity to enhance their career path."

Wednesday, June 8, 2011

Mosaic The Valley Adds Hotel

The Mosaic apartment development has added a 41 room hotel component. That is a small hotel. The hotel will be branded as a Grand Chifley hotel, operated by Constellation Hotels (that also appears to have purchased the management rights for the apartment building.) The hotel opening date is expected to be mid-2013. I am not sure if I would be happy with this if I had purchased an off-the-plan apartment in Mosaic prior to this announcement.

Sunday, September 13, 2009

Onsite or Offsite Real Estate Agent?