Owner and Operator desire to evidence their agreement with respect to the operation, direction, management, and supervision of the Hotel. We will analyze a typical Operator form of performance standard, and later we will look at a model better suited to an Owner's interests.This Agreement shall constitute the entire Agreement between the Owner and the Manager regarding the management and operation of the Hotels. Hotel Management Agreements (HMAs) are contracts which defines the relationship between the hotel owners and management companies or operators. By signing the filled-out form, you: 1. In the immediate aftermath of the Great Recession, a handful of hotel owners especially of luxury hotels sought to rid. Hotel Management Agreements (HMAs) are contracts which defines the relationship between the hotel owners and management companies or operators. This Agreement shall have the meanings given such terms in the Management Agreement. Section, they shall have the meaning assigned to them in the Management Agreement (Hotel). Edit, sign, and share Property Manager Agreement - Ohio online.