Chapter 13 - THE NEW MANAGER

Three companies made final presentations.
Parker Management was one.
It knew the hotels best.
Its revised fee was competitive.
But another firm, NorthBridge Hospitality, offered:
4.6% base management fee,
centralized purchasing savings,
stronger audit rights,
and no related-party conflict.
Claire voted NorthBridge.
Thomas agreed.
Victoria voted Parker Management.
2-1.
Parker Management lost the contract.
Not because of the shrimp.
Because the independent bid was better.
Victoria still owned 28% of Parker Properties.
She continued receiving distributions.
She did not become poor.
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She lost control.
That was more realistic.