Two Major Challenges of Lodging Franchising Are Avoiding Financial Failure

question 21

Short Answer

Two major challenges of lodging franchising are avoiding financial failure by the franchisee and:
• Slow growth in the industry
• Decreased use of central reservation systems by guests due to increased availability of internet booking options
• Up-front fees are too high for potential franchisees
• Maintaining quality standards

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Definitions:

External Stimuli

Environmental factors or inputs that affect the senses and can influence behavior, reactions, and internal physiological states of an individual.

Internal Stimuli

Signals or events that originate within an organism, triggering psychological or physiological responses.

Consciousness

The state of being aware of and able to think about one's own existence, sensations, thoughts, and environment.

Circadian Rhythm

The biological clock that cycles daily, regulating physiological and behavioral processes such as sleep-wake patterns and hormone release.