GHM wins legal scrap with Lehman Brothers
GHM has been awarded damages after an international court found that its management of the Setai Miami was improperly terminated by the hotel’s owner, Lehman Brothers.
GHM is the principal hospitality interest of Adrian Zecha following the iconic hotelier’s departure from Amanresorts.
In a statement, GHM said that following two years of arbitration proceedings in Florida after the forceful takeover of The Setai Miami in the pre-dawn hours of March 31, 2012, the ICC International Court of Arbitration ruled that all previous allegations of mismanagement were baseless and awarded damages to GHM for improper termination of GHM’s hotel management agreement.
GHM said that in its findings the tribunal concluded that GHM complied with the contract in all respects and chided the owner’s attempts to find excuses to terminate the management agreement.
A Lehman Brothers expert at the trial had "conceded that GHM achieved RevPAR levels that were 76 percent higher than the competitive set".
GHM president Hans R. Jenni said: "Needless to say, we are very pleased with the tribunal’s conclusion, along with the complete and total legal victory.
"More importantly, it vindicates GHM of the wrongful accusations and upholds our reputation as a hotel management company of the highest repute and calibre."
Lehman has 30 days from the date of the tribunal’s decision to make full compensation to GHM.
Ian Jarrett
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
TAP Air Portugal to operate 29 flights due to strike on December 11
Qatar Airways offers flexible payment options for European travellers
Airlines suspend Madagascar services following unrest and army revolt
Air Mauritius reduces frequencies to Europe and Asia for the holiday season
Major rail disruptions around and in Berlin until early 2026