Terms:

-Management Contracts

In the hospitality industry, management contracts provide hotel corporations the flexibility to grow.

-Feasibility study

In the hospitality industry, they examine the markets area’s demand and supply which will then determine the degree to which where the hotel project would be financially successful

-Franchising

In the industry, franchising allows hotel companies to expand their brand and helps businesses grow.

-Referral associations

In the industry, referral associations also help hotels become successful.

-Capital intensive

In the industry, it is the investment of large sums of money.

-Hotel classification system

In the industry, the hotel classification system is the ranking of different hotels. It includes star rating and letter grading.

-Management company

In the industry, the management company operates the hotel.

-A corporate hotel

In the industry, a corporate hotel is managed by the parent company.