Hotel Property Categorization: Independent vs Chain Hotels
31 Questions
2 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

Which type of hotel property is not clearly associated with any other properties in terms of ownership and management?

  • Affiliated hotel
  • Chain hotel
  • Independent hotel (correct)
  • Family-run hotel
  • What is a disadvantage of an independent hotel?

  • Limited financial commitments
  • Access to management expertise (correct)
  • Lack of centralized control
  • Strong affiliation with other properties
  • What do chain hotels typically establish to limit affiliate actions?

  • Minimum set of standards (correct)
  • Strong affiliation with other properties
  • Maximum financial commitments
  • Lack of centralized control
  • What do some chain hotels focus solely on in terms of central functions?

    <p>Centralized purchasing, marketing, and advertising</p> Signup and view all the answers

    Which type of hotel property exercises tight control over the design, administration, and standards of affiliate properties?

    <p>Chain hotel</p> Signup and view all the answers

    In conventional methods, how are hotels evaluated and what do they heavily rely on?

    <p>Independently; amenities offered</p> Signup and view all the answers

    What is the main purpose of a management contract in the hotel industry?

    <p>To manage the business operations for a fee</p> Signup and view all the answers

    Which structure was chosen to simplify reality in hotel connections?

    <p>Tripartite structure</p> Signup and view all the answers

    What is the primary drawback for smaller hotels in relation to their level of comfort and attaining a higher classification?

    <p>Lack of an elevator</p> Signup and view all the answers

    What is the primary responsibility of the owner in a management contract?

    <p>Legal ownership of the property</p> Signup and view all the answers

    Which real estate investment trusts are mentioned as owners of hotels operated by management firms?

    <p>Marriott International and Starwood Lodging and Trust</p> Signup and view all the answers

    What is the primary purpose of purchasing franchise licenses for hotel properties?

    <p>To reduce investment risks and increase competitiveness</p> Signup and view all the answers

    What is the primary difference between management contracts and lease contracts?

    <p>The ownership transfer to the operator</p> Signup and view all the answers

    Which term refers to hotel-focused real estate investment trusts?

    <p>Starwood Lodging and Trust</p> Signup and view all the answers

    Why might finding statistical information on hotel connections be difficult?

    <p>Because the facts are broad and not easily accessible</p> Signup and view all the answers

    What is a common reason for smaller hotels to be prohibited from attaining a higher classification?

    <p>Lack of feature like an elevator</p> Signup and view all the answers

    What is the primary advantage of an independent hotel?

    <p>Freedom and independence in decision-making</p> Signup and view all the answers

    What distinguishes chain hotels from independent hotels in terms of ownership and affiliation?

    <p>Chain hotels establish a minimum set of standards and regulations</p> Signup and view all the answers

    What is a disadvantage of an independent hotel compared to a chain hotel?

    <p>Access to central purchasing, marketing, and advertising</p> Signup and view all the answers

    What do chain hotels focus on solely in terms of central functions according to the text?

    <p>Central purchasing, marketing, and advertising</p> Signup and view all the answers

    What is the primary drawback for a single property or independent hotel?

    <p>Dependency on another hotel's management expertise</p> Signup and view all the answers

    What is the main distinguishing factor between independent hotels and chain hotels mentioned in the text?

    <p>Control over individual property based on centralized organization</p> Signup and view all the answers

    What is a primary consideration for smaller hotels in attaining a higher classification?

    <p>The lack of a feature like an elevator</p> Signup and view all the answers

    How does the arrangement in a management contract resemble the partnership between an employer group and the owner of an employee cafeteria?

    <p>It involves managing business operations for a fee</p> Signup and view all the answers

    What is an alternative for the owner to structure the connection with the operator if unwilling to take on operational responsibility for the hotel?

    <p>Management agreement</p> Signup and view all the answers

    What is a disadvantage of smaller hotels in relation to their level of comfort and attaining a higher classification?

    <p>Lack of certain features like an elevator</p> Signup and view all the answers

    In what way does the operator manage the business operations on behalf of the owner in a management contract?

    <p>For a fee in exchange for services provided</p> Signup and view all the answers

    What is a primary purpose of purchasing franchise licenses for hotel properties?

    <p>To reduce investment risks and increase competitiveness</p> Signup and view all the answers

    What structure was chosen to simplify reality in hotel connections?

    <p>Tripartite structure</p> Signup and view all the answers

    Why might finding statistical information on the connections between hotel owners and operators be difficult?

    <p>'Statistical information is not widely available or easily accessible.'</p> Signup and view all the answers

    What is the primary difference between management contracts and lease contracts?

    <p>'Management contracts involve an operator managing business operations for a fee, while lease contracts involve the transfer of operational responsibility.'</p> Signup and view all the answers

    More Like This

    Use Quizgecko on...
    Browser
    Browser