Ratchet See Anti-Dilution Adjustment. ... read more
R&M Repairs and Maintenance ... read more
Rack Rate The standard published rate for a hotel room before any discounts are applied (also known as the Walk-in Rate). ... read more
Radius Restriction or Restricted Area A restriction in a Management Agreement preventing a hotel chain from owning, operating and/or franchising another hotel within a specified distance (also known as Protected Area). ... read more
Redeemable Shares Shares (commonly Preference Shares) which give an investor the right to have them bought back by the company. The company must have available cash (distributable reserves) to pay for the Redeemed Shares. ... read more
Replacement Reserve See FF&E Reserve. ... read more
Research and Development (R&D) Tax Credits R&D Tax Credits are a UK tax relief available to innovative companies that invest in developing new products, processes or services. For companies which are yet to earn profits, R&D Tax Credits can amount to a cash payment from&nbs... read more
Reserved Matters See Consent Rights. ... read more
Restrictive Covenants Certain restrictions placed on shareholders (particularly Founders) by investors in an Investment Agreement as a condition of making an investment. The common restrictions are a promise not to compete against the busine... read more
Return on Investment (ROI) The amount of profit realised on an investment. ROI is normally expressed as a percentage. ... read more

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