Types Of Hotels: Ownership And Affiliation! Trivia Quiz
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The King James Hotel, a family-owned-and-operated property that is organized as a sole proprietorship, would be classified as:
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A chain property.
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A franchisee
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A corporate property.
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An independent property.
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The quiz below is perfect for testing your knowledge about types of hotels: ownership and affiliation. Being that the hotel industry is expensive to get in and holding your market share hotels have banded together and formed groups or used a common name to achieve just that. Let’s see what you know about these strategies and some of the ones See morein existence through the test. Give it a shot!
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Under most management contracts, who retains financial and legal responsibility for the property?
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The hotel chain
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The owners or developers
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The management company
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The franchisee
Correct Answer
A. The owners or developersExplanation
Under most management contracts, the owners or developers retain financial and legal responsibility for the property. This means that they are responsible for the financial obligations and legal liabilities associated with the property, even though it is being managed by a management company or operated as a franchise. The hotel chain or management company may provide guidance and support, but ultimately the owners or developers are accountable for the property.Rate this question:
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- 3.
A group of investors is planning to develop a conference center on the outskirts of a major city. Financing opportunities depend on assuring the bank that the property will be operated by a professional staff. Which of the following would be an option for the investor group if none of them has a hospitality management background?
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Forming a hotel chain
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Contracting with a management company
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Joining a referral group
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Becoming an independent property
Correct Answer
A. Contracting with a management companyExplanation
If none of the investors have a hospitality management background, the best option for the investor group would be to contract with a management company. This would allow them to hire professionals with the necessary expertise to operate the conference center effectively. By partnering with a management company, the investors can ensure that the property is run by experienced professionals, which will help them secure financing opportunities from the bank. This option provides the investor group with the assurance of having a professional staff without requiring them to have a background in hospitality management themselves.Rate this question:
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- 4.
Franchise organizations and referral groups generally provide affiliated hotels with all of the following except:
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Rating services.
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Centralized purchasing.
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Central reservations systems.
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Expanded advertising.
Correct Answer
A. Rating services.Explanation
Franchise organizations and referral groups typically offer affiliated hotels centralized purchasing, central reservations systems, and expanded advertising. These services help streamline operations, increase efficiency, and promote the hotels to a wider audience. However, rating services are usually not provided by these organizations. Hotels typically rely on independent rating agencies or customer reviews to assess their quality and performance.Rate this question:
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- 5.
Independent hotels are usually more centralized in management than chain hotels.
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True
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False
Correct Answer
A. FalseExplanation
Independent hotels have more autonomy not centralizationRate this question:
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- 6.
Developers that hire a management company would sign a management contract.
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True
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False
Correct Answer
A. TrueExplanation
Developers who hire a management company typically sign a management contract. This contract outlines the terms and conditions of the agreement between the developer and the management company. It specifies the responsibilities of both parties, including the services to be provided by the management company and the compensation to be paid by the developer. Signing a management contract is a common practice in the real estate industry as it helps to ensure a clear understanding of the roles and expectations between the developer and the management company.Rate this question:
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Franchising is when the franchisee grants the franchisor the right to conduct business according to a certain pattern.
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True
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False
Correct Answer
A. FalseExplanation
The explanation for the answer "False" is that franchising is when the franchisor grants the franchisee the right to conduct business according to a certain pattern. In franchising, the franchisee is the one who operates the business using the franchisor's established brand, systems, and support.Rate this question:
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Current Version
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Mar 21, 2022Quiz Edited by
ProProfs Editorial Team -
Feb 09, 2008Quiz Created by
Aoht
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