Amendment of the new Working Time Act The collective agreement provides for changes made by the new Working Time Act by revising the reference period for working time to 12 months. The royalties payable to operators will be at the heart of lenders` concerns, as they will affect the owner`s ability to repay the debt. While owners can apply for financing after the signing of the hotel management agreement, owners must consider the impact that the amount of fees payable to the operator will affect their ability to repay their debts and, therefore, influence the favourable nature of the financing conditions. In particular, the payment of an owner`s return, which can be used to repay a debt, is considered positive by lenders. Regardless of whether the hotel management agreement reserves the repayment of an owner, lenders will often attempt to subject certain fees to the payment of debts, especially in the event of enforcement as part of the financing. As a general rule, operators will object, but may accept subordinate incentive charges. You will find more reviews in our previous note on hotel financing. Collective agreement for the hotel, restaurant and leisure sectors (in summary) from February 1, 2018 to March 31, 2020 Promotion of the labour economy – The collective agreement contains provisions on employee management and the date of shift work. The changes will take effect from 1.1.2021. Extending daily rest.
The daily rest time between shifts is 11 hours. Employees in each position may decide to reduce the daily rest time to 8 hours. Level The collective agreement for employees in the hospitality, restaurant and leisure sectors sets out the minimum conditions to be met in the sector, including pay, working time, sick pay, work time compensation, etc. The conditions are minimum conditions that employers must meet for all their employees. The agreement applies to workers covered by the Working Time Act. The collective agreement for hotel, restaurant and leisure employees generally applies to workplaces such as: restaurants, cafes, pubs, nightclubs, caterers and personal canteens, kitchens and manufacturing services, hotels and other tourist accommodation establishments, spas and wellness centres, camping areas and caravans, holiday and holiday parks, rural tourist services , service and transport stations, cone centres, holiday centres and courses, convention and promotion centres, sales, marketing and placement of Finnish tourist services. Owners must ensure that the amount of royalties collected by the operator allows the owner to obtain an adequate return on investment and ensure that the operator`s primary compensation is calculated on the basis of gross operating profit, which encourages the operator to manage the hotel efficiently and generate profits. As a result, owners can strive to reduce basic royalties (based on revenue) and focus on incentive charges based on operating income.