chiapt1hotelops

A(n) _________ __________ _________ represents the owner in the operation of a hotel. A hotel may have both a __________ _________ and a(n) _________ ________ ___________ (This type of affiliation is a relatively new phenomenon)

Asset Management Company, Management Company, Asset Management Company

10.What do membership or marketing groups, also referred to as 3rd party distribution companies, provide hotels with?***

Better deals with OTA's and other benefits

8. What is an asset management company?

An Asset Management Company represents the owner in the operation of a hotel. A hotel may have both a Management Company and an Asset Management Company

11.Quasi chains or soft brands—what are they and what do they do?

Cross between a chain and marketing group Aka autograph by Marriott Luxury collection by starwood This let's appear more independent but also take advantage of all the benefits that the parent company offers

1. STR maintains a database of all the 160,000+ hotels in the world. What is this database called?

Census

Who are the players in the hotel industry?

Chain, Parent Company, Management Company, Owner, Asset Management Company

The ___________ represents the hotel brand, which is clearly displayed to the public on the building and in all interactions with the customer. STR uses Chain and _________ synonymously

Chain, brand

6. What is an independent hotel?

Not affiliated with a parent company

3. While Best Western appears to be one large brand, how does STR identify Best Western in terms of parent company and chains?

Parent company consisting of 3 chains BW, Plus, and Premier

_____________ hotels are not affiliated with a specific chain. They may be managed or owned by companies listed on pages to follow. They may also be members of various marketing groups.

Independent

12.Why do parent companies create multiple chains?***

To create interest amongst a bigger audience

biggest parent company?

marriott (used to be hilton before merger)

1) Most of the entities below are classified as "Chains". Which one is a "Parent Company" consisting of multiple chains? a) Hampton Inn b) Courtyard c) Starwood d) Holiday Inn Express

c

A corporate hotel is a chain hotel __________ and/or __________ by the ____________ or the __________ __________

owned, managed, chain, parent company

in the US there are more _______ ________ and less ________ _________

chain hotels, independent hotels

In recent years, several new chains have come into existence that some would say are really a cross between a ________ and a ___________ __________ for ____________ hotels. These chains have been created to be able to bring hotels under a ___________ ___________ _________. The hotels can take advantage of the benefits available from the _______ _________

chain, marketing group, independent, Parent Company flag, Parent Company.

In some cases, companies organize their hotels by different ________ that may not be obvious to the consumer or traveler, for example: Hampton Inn vs. Hampton Inn & Suites Holiday Inn vs. Holiday Inn Express Best Western vs. Best Western Plus and Best Western Premi

chains

) Which is a true statement about Parent Companies? a. Parent Companies and the related chains have changed over time b. Parent Companies must consist of no more than five chains c. Parent Companies can only consist of chains in a single Scale d. Parent Companies can only have hotels in a single country

a

4) Which is a true statement about independent hotels? a. Independent hotels are not affiliated with a specific chain b. Chain hotels outnumber independent hotels in every country of the world c. Independent hotels are mostly Luxury Class hotels in Urban Locations with more than 150 rooms d. Independent hotels may never be managed by an outside entity

a

5) Which is a true statement about Management Companies? a. Management companies have contracts where they receive payment for their services and/or some portion of profits b. Management companies may manage only one chain c. Management companies will always own the hotels they manage d. Management companies serve the exact same role as asset management companies

a

A ___________ hotel is a chain hotel run by a third party where the chain receives some sort of __________ ________.

franchise, franchise fee

A management company operates a hotel for ________ _________

another party

biggest chain in the world? (by rooms)

holiday inn

most people agree that ___________ was the first chain

holiday inn

Most __________ __________ will have a mixture of corporate and franchise hotels.

parent companies

___________ ___________ consist of multiple chains. Often the __________ ____________ will have a variety of different types of chains. (Some people may use the term "__________" as a synonym for these.)

parent companies, parent company, group

Real Estate Investment Trusts Membership and Marketing Groups Convention & Visitor Bureaus, Tourism and Travel Organizations Hotel Associations Developers, Consultants, Appraisers Wall Street, Accounting, Financial firms Media National & international hotel conferences Educational Community Governments (US, Australia) Hotel vendors (Starbucks, Samsung, ...)

companies/organizations related to the hotel industry

A ___________ _________ is a chain hotel owned and/or managed by the chain or the parent company.

corporate hotel

Most parent companies will have a mixture of ___________ and _________ ___________.

corporate, franchise hotels

What are the three different operation types? a. Corporate, Managed, Independent b. Managed, Franchise, Independent c. Managed, Clustered, Independent d. Corporate, Franchise, Independent

d

This kind of hotel is not affiliated with a chain or parent company.

independent

A ____________ ____________ company operates a hotel for another party.

management company

management companies have a _________ _________ where it receives payment and/or some portion of profits. Management companies may manage a variety of different __________ _________ as well as ___________ __________.

management contract, independent hotels, chain hotels

2. What is the difference between a chain and a brand?

they're basically the same according to str

A franchise hotel is a chain hotel run by a _______ ________ where the chain receives some sort of __________ fee.

third party, franchise

The US percentage of chain hotels versus independents (currently ___% vs. ___%) has changed dramatically in the last 50 years. In the mid 1900's, the percentages in the US were more like the current percentages outside the US (___% to ____%)

70, 30, 40, 60

Independent hotels are not affiliated with a specific chain but....

They may be managed or owned by companies and they may also be members of various marketing groups

What does STR stand for

smith travel research

In recent years, several new chains have come into existence that some would say are really a cross between a chain and a marketing group for independent hotels. These chains have been created to be able to bring hotels under a Parent Company flag. The hotels can take advantage of the benefits available from the Parent Company.

soft brand/quasi chains

Autograph by Marriott Luxury Collection by Starwood Andaz by Hyatt Ascend by Choice examples of?

soft brands

4. What is a corporate hotel?

A chain hotel owned and/or managed by the chain or the parent company

5. What is a franchise hotel?

A chain hotel run by a third party where the chain receives some sort of franchise fee

9. How does the percent of chain hotels vs. independent hotels differ from the US versus worldwide?

More chain hotels in the US

7. What is a management company and what does it do?

Operates a hotel for another party The company has a management contract where it receives payment and/or some portion of profits

_____ uses three different operation types

STR, Corporate, Franchise, Independent