Let's learn more about the various ownership structures in the industry now that we have a better understanding of the various Hotels worldwide and their classifications.
Several ownership models, including independent, management contract, chains and franchise agreements, fractional ownership, and full ownership strata units, are used in the sector today. In more detail and with examples, each of these are discussed in this section. Independent hotels are owned and operated directly by their owners or small groups who provide the financial backing. A management system that is free from outside control is referred to as independent.
There are many independently branded hotels that are very well-established.
In every aspect of the business, these hotel companies have created their own standards, support systems, guidelines, and best practices. The location, product, service, experience, sales and marketing, and brand are all essential for that success, and independent hotels have the freedom to customize or adjust their processes The Wedgewood Hotel and Spa in Vancouver, founded by Eleni Skalbania, is an instance of an independent hotel. A management contract is yet another type of corporate structure. A management business provides this service to help a hotel or resort's owners. Owners have two primary alternatives for a management contract's framework.
One is to sign a separate franchise agreement in order to establish a brand, and after that, to hire a private, outside hotel management business to run the hotel.
One example of a hotel management company is SilverBirch Hotels, which oversees both independent hotels and lodgings affiliated with various well-known franchise brands, including Marriott, Hilton, and Radisson. ( Great Hotels of the World)
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